The market for silver stocks has grown exponentially in 2020. At the start of the year, the price of the metal was at just under $18. Now silver prices have reached the point of being at $25 per ounce. Often times the silver market will move similarly to the gold market. But the difference between the gold and silver market is, there is much more potential gains to be made with a smaller amount of money with silver stocks. This is because of the much lower cost of silver compared to gold. Silver also will move up and down based on the industrial demand for the metal.
There are plenty of silver stocks that have been trending in the market throughout 2020. Currently the things affecting gold and silver prices are the stimulus bill that was just passed. The stimulus bill that was passed has caused a slight drop in the price of these precious resources. This is because the stimulus checks being issued are not as large as some may have expected. But regardless of this, when money actually starts being given out it could potentially cause an uptick in silver stocks. This is something that only time will be able to tell. Regardless of what you here, it is still a great time to invest in silver stocks. Let’s take a look at four silver stocks that have been trending in the market throughout 2020, and could potentially close out strong.Silver Stocks To Watch Before 2021: Fortuna Silver Mines
The first silver stock to watch is Fortuna Silver Mines (FSM Stock Report). Fortuna does exploration, extracting, and processing of precious metals. It also dabbles in base metal deposits as well. Primarily the company explores for silver, gold, lead, and zinc deposits. Its main property is the Caylloma silver, lead, and. Zinc mine and the San Jose silver-gold mine. These are mainly located in Mexico, Argentina, Peru, among others. Let’s see what this company has been up to in recent history.
On December 1st, Fortuna provided an update on the status of disputed royalty at the San Jose Mine. Back in November, the company provided unconsolidated financial results. This included sales of $83.4 million, much higher than the $61.3 million from the previous year. Its net income was $16.1 million compared to a net loss of $1.9 million last year. Its adjusted net incole and adjusted EBITDA, as well as free cash flow grew exponentially as well. That is why FSM stock price has grown to be at $7.31 a share on average.Silver Stocks To Watch Before 2021: Hecla Mining Company
The next silver stock to watch is Hecla Mining Company (HL Stock Report). The company is a mining corporation that discovers, acquires, develops, and produces precious and base metal properties in the United States and a variety of other companies. The company offers lead, zinc and bulk concentrates as some of its assets. It also gives carbon materials to custom smelters, metal traders, and processors. Additionally Hecla sells unrefined gold and silver bullion bars to precious metal traders. It owns 100% interest in the Greens Creek mine, Hollister mine, and Midas mine. It has a variety of other properties in its portfolio as well.
On December 10th 2020, Hecla entered into a first nation cooperation agreement. This agreement is with the Coucil of the Abitibiwinni First Nation. It will provide participation in the Casa Berardi Mine through training programs, employment, and advancement opportunities as well. The President and CEO of the company, Phillips S. Baker Jr. said, “We are very pleased to have reached this agreement with the Council of the Abitibiwinni First Nation because of our mutual desire to protect the environment and our respect for Aboriginal people and their traditional way of life.” HL stock price is at $5.86 a share as of December 22nd 2020. At the start of 2020, HL stock was at just $3.40 a share on average. That is why HL stock is on this list of silver stocks to watch.[Read More] Which Mining Stocks May Pull Ahead As Vaccines Are Shipped? Silver Stocks To Watch Before 2021: Coeur Mining
Next up let’s talk about Coeur Mining (CDE Stock Report). Coeur Mining is a company that explores for, develops, and produced various different properties. These properties have a focus on gold, silver, zinc, and lead production. It has 100% interest in the Palmarejo mine that covers 112,520 net acres in Mexico. It also holds 100% interest in a variety of other mines scattered all over North America. Let’s look at what this mining company has been up to in its recent history.
On December 16th, Coeur Mining announced details for the expansion of its Rochester silver and gold mine located in Nevada. This showed significant reserve growth and befits of a larger scale expansion project. This includes an expected internal rate of return of 31% based on proven and probable mineral reserves. It also expects a 58% and 65% increase year over year in silver and gold reserves respectively. CDE stock price is at $9.40 a share on average as of December 22nd.Silver Stocks To Watch Before 2021: MAG Silver Corp.
Last but not least arrives MAG Silver Corp. (MAG Stock Report). MAG Silver Corp. is an acquisition, exploration, and developmental mining company. Its main focus is on mineral properties located in North America and South America. MAG actively explores for silver, gold, lead, and zinc deposits. Its main asset is a 44% interest in the Juanicipio project in the. Fresnillo District of Zacatecas State, Mexico.
MAG stock price is at $17.66 a share on average as of December 22nd 2020. At the start of 2020, MAG stock was at $11.30 a share on average. So this silver stock has experienced significant growth this year. Its most recent advancement was financial results in which the CEO George. Paspalas said, “We are very pleased with the progress at Juanicipio. The metallurgical response of the mineralization is correlating well with our expectations.” Currently we await to see what will come next from this silver stock.