Silver stocks have been quite popular in the market for the past year and a half. When the pandemic crossed the globe in 2020, the momentum began to build. Last year, as a result of this, silver reached a new all-time high price. Many silver stocks followed suit as a result. Then, shortly after the GameStop mania, retail investors moved their interest to silver equities. Silver stocks had a temporary surge in popularity as a result of this.
Now that the year is 2021, a variety of factors are hurting the mining industry. Inflation fears are rampant in the stock market right now. In many other parts of the world, the pandemic is still going strong. Although things have cooled down in the United States, the impacts are still being felt in other countries. In the long run, this may have an impact on the supply of metals like silver.
Silver is a desirable commodity since it is a valuable metal that is also used in industrial applications. Because many industrial enterprises are currently operating at full capacity, the metal’s production numbers are improving. The Global X Silver Miners ETF (NYSE: SIL) is tracked by several silver equities. As a result, if this ETF rises or falls, numerous silver stocks are likely to follow suit. With all of this in mind, let’s take a look at three silver stocks that are currently performing well in the market.Top Silver Stocks To Watch
- SilverCrest Metals Inc. (NYSE: SILV)
- Americas Gold and Silver Corporation (NYSE: USAS)
- Fortuna Silver Mines Inc. (NYSE: FSM)
SilverCrest Metals Inc. is a mining firm that seeks to purchase, investigate, and develop various sites. These precious metals-focused sites are located in Mexico. Silver and gold are the primary resources sought after by SilverCrest. It now manages the Las Chispas project in Sonora, Mexico, which consists of 28 concessions totaling 1400.96 hectares.
On September 9th, the company reported results from its 2021 infill and expansion drilling in the Babicanora area. Planned infill drilling for the Babi Vista Vein, Babi Vista Vein Splay, and Granditas Vein 1 Vein are nearing completion at the moment. The company’s drilling programs intend to increase drill density in an area. During the first 7 months of the year, 80,632 meters in 176 drill holes have been completed at Las Chispas.
CEO of SilverCrest, N. Eric Fier said, “SilverCrest’s strategy for its infill drilling program is to efficiently use our capital to optimize the LOM through increasing confidence in high-grade Inferred Resource veins proximal to planned underground infrastructure. The infill program has confirmed the presence and continuity of multi-kilogram per tonne silver equivalent grades within the footprints that helped define the veins in the 2021 Feasibility Study.” On October 7th, SILV stock went up 1.3% in the market. Will SILV be on your list of silver stocks to watch?Americas Gold and Silver Corporation (NYSE: USAS)
When mentioning silver penny stocks, it is hard to leave out Americas Gold and Silver Corporation. Americas Gold and Silver Corporation acquires, develops, explores at, and operates various mineral properties. Most if not all of the company’s assets are located in the United States. It previously held a 100% interest in the CosalAj operations consisting of 67 mining concessions.
In September, the company announced that it has continued to add silver ounces to the Galena Complex. The company also surpassed its target additions for the year. On a consolidated and attributable basis, estimated contained metal in the proven and probable reserve totaled 32.5 million ounces of silver.
President and CEO of Americas Gold and Silver Corporation, Darren Blasutti said, “The increase in silver resources at the Galena Complex surpassed the Company’s target of adding 50 million ounces year over year and for all of the Phase 1 drilling program by over 80%, continuing to demonstrate the significant potential of the operation.” Now USAS stock is up 6% in the market with higher than average volume on October 7th. Will USAS be on your silver stock watchlist in October?Fortuna Silver Mines Inc. (NYSE: FSM)
Fortuna Silver Mines is a precious metals mining company that explores, extracts, and processes various precious metals. The company is actively looking for silver, gold, zinc, and lead resources. The Cayloma and San Jose mines are its primary assets, although it also manages the Lindero Gold Project.
On September 29th, the company announced a positive construction decision for bits Seguela gold project in Cote d’Ivoire. The company will proceed with the construction of an open-pit mine at the location. Back in July, Fortuna successfully acquired Roxgold Inc. Now it will be interesting to see how FSM stock performs in the future.
Jorge A. Ganoza, President and CEO of the company said, “With a nine-year mine life in reserves, 130,000 ounces of annual gold production in the initial six years, and compelling economics, Séguéla is planned to become our fifth operating mine with first gold by mid-2023.” Now that you have the latest on Fortuna, will it make your silver stock watchlist?Top Silver Stocks To Buy?
When it comes to investing in silver stocks, creating an investment plan can be really beneficial. This can be as basic as keeping up with current events. But what kind of news is most beneficial to this industry? Sector news, business news, and global news can all influence these mining stocks. With all of this information in mind, which silver stocks will you be keeping an eye on this month?