In the last month, silver stocks became more of a talking point than they normally are. We will get into that, but how did all of this start? The pandemic accelerated the price of silver to new highs in the market during 2020. As more reopening started around the world, the price of silver went up even more. This was as a result of the industrial demand for the metal as operations continued for many build sites and businesses. Once again, silver received a boost in early February.
This boost came as reports were released saying Reddit traders have shifted their focus to silver. While many Redditors denied that this was true, what was undeniable was the rise up in price that silver experienced. At one point in the day silver prices reached $30 per ounce, a price that had not been seen in a long time. The hype quickly died down and brought silver stocks and prices back down the next day. But silver has actually held on to some of those gains.
The metal is at $27 per ounce on average at the moment, when before the phenomenon it was at $25 per ounce. This could be related to silver stocks but also could not be.Recently a report came out from the U.S. Labor Department regarding jobless reports. It stated that jobless claims went down week over week, but not by a large number.
While it is good for the world that this number is falling, it could be troubling for all mining stocks. Regardless, unemployment numbers are still very high at the moment. This is part of the reason why mining stocks have been able to stay at key price points. Now let’s look at four silver stocks to watch in the market at the moment.Top Silver Stocks To Watch
- Avino Silver & Gold Mines Ltd. (NYSE: ASM)
- Almaden Minerals Ltd. (NYSE: AAU)
- Franco-Nevada Corporation (NYSE: FNV)
- Pan American Silver Corp. (NASDAQ: PAAS)
The first silver stock to watch on this list is Avino Silver & Gold Mines Ltd. Avino is a mining company that will acquire, explore, mine, and advance various mineral properties. The company’s properties are located in Mexico and Canada. It actively owns 42 mineral claims, and leases four mineral claims. Avino also has 24 exploitation concessions covering 1200+ hectares of land. So what has this company been up to in 2021 so far?
On January 13th, Avino announced a 60% increase in its measured and indicated mineral resources. The number jumped to 75.9 million ounces of silver equivalent at the Avino property. The President and CEO David Wolfin stated, “The updated mineral resource estimate provides us with a robust long-term outlook. With several areas on the property that have yet to be explored, there is a strong in-situ potential for further potential resource extension.” That is the latest update that has come from Avino.Almaden Minerals Ltd.
Next up on this silver stock list is Almaden Minerals Ltd. Almaden Minerals is an exploration stage company that acquires, explores, and develops different mineral properties throughout Canada and Mexico. Almaden actively searches for gold, silver, and copper deposits in these locations. The company owns 7,200 hectares, 100% interest, of the Ixtaca (Tuligtic) project in Mexico. So now you may be wondering, how is Almaden Minerals performing in 2021 so far?
Its most recent update comes from February 3rd, 2021. This when Almaden outlined its Ixtaca Project plans for this year. The company believes that the project has “many natural advantages” which will make it have lots of positive contribution to the local and regional area. Morgan Poliquin, President and CEO of Almaden said, “Our intention moving forward is to seek opportunities to allow for robust dialogue on the nature of these potential contributions, and to submit a new MIA which clearly reflects the current priorities in Mexico.”Franco-Nevada Corporation
Now let us talk about Franco-Nevada Corporation. Franco-Nevada is a royalty and stream mining company that focuses on gold, and also searches for silver and platinum group metals. Furthermore the company works with gas and energy comprising oil too. Its primary focus for the company is energy and mining. Now that you have a short description about the company, let’s look at its recent performance and advancements.[Read More] Top Mining Stocks To Buy Or Sell Mid February
The company’s most recent update was on February 10th. It announced that its 2020 financial and operational results will be released very soon. The expected date for this to take place is March 10th after the U.S. market closes. That is the latest that has been heard from Franco-Nevada.Pan American Silver Corp.
The final silver stock to watch is Pan American Silver Corp. Pan American Silver will engage in exploring, developing, extracting, processing, refining, and reclamation of silver mines. Its mines are located in Mexico, Canada, Argentina, Peru, and Bolivia. The company will then sell its gold, zinc, lead, and copper. Let’s dive into its recent news and advancements now that it is mid February 2021.
The latest update from this silver company is from January 19th, 2021. This is where the company announced its preliminary 2020 production results and its 2021 guidance. In terms of the 2021 guidance, Michael Steinmann the President and CEO of Pan American said, “We are expecting a 35% increase in silver production relative to 2020 and record gold production in 2021, despite our assumption that COVID-19 will continue to have an impact on operations.” Pan American was still able to perform despite negatives brought on by the pandemic.