Is It Time For These Silver Stocks To Rally?
If you have taken a look at the price of silver stocks in the last year, you know how important they are to the mining sector. Silver stocks have experienced something that not many metal assets will hypothetically get to experience ever again. The pandemic caused this massive momentum for all types of mining stocks. Silver was one of the lucky ones, and saw a huge increase in price throughout all of last year.
In fact, silver reached a new all time high in the market in 2020. This momentum already attracted a lot of new traders to the metal that didn’t already have it in their portfolio. That was the case until early February 2021 came around. Media reported that Reddit traders boosted the price of silver, and the metal subsequently reached $30 per ounce. Unfortunately for bullish investors, this momentum only lasted for a day.
Silver was able to hold on to a little bit of the momentum this caused, but not much. But one key thing did happen as a result of these media reports and the sudden surge in price of silver stocks. It brought a lot of attention to the metal. This Reddit craze attracted new investors that had never previously even thought about adding silver to their portfolio. While some may have left after the bearish after effects, some stayed as well. Industrial demand for the metal is also increasing at the moment. So there are many factors that lead some investors to believe that silver has the opportunity to move up in the market. There are plenty of silver stocks increasing in price that show this as well. Presented below will be four silver stocks to watch in March 2021.Top Silver Stocks To Watch
- Silvercorp Metals Inc. (NYSE: SVM)
- MAG Silver Corp. (NYSE: MAG)
- Great Panther Mining Limited (NYSE: GPL)
- SilverCrest Metals Inc. (NYSE: SILV)
First up on this list of silver stocks to watch is Silvercorp Metals Inc. Silvercorp Metals is a silver company that acquires, explores, develops, and mines mineral properties located in China. The company will mostly search for silver, gold, lead, and zinc too. It holds interest in the Ying silver-lead-zinc project and the GC silver-lead-zinc mine. Let’s dive right into the company’s recent market performance and financials in March 2021.
At the start of earnings season on February 4th, Silvercorp was one of the first to report. Silvercorp announced mined ore increases of 6% year over year. It also increased its gold and zinc sold by 14% and 7% in the quarter, with decreases in silver and lead. The company’s revenue of $53.3 million was 20% higher than the previous year’s quarter. Now in 2021, the company expects more increases in its production in certain areas.MAG Silver Corp.
The next silver stock to watch is MAG Silver Corp. MAG Silver Corp. is a mining company that will primarily acquire land, explore it, and develop mineral properties within. It searches for silver, gold, lead, and zinc deposits respectively. Currently the company holds a 44% interest in the Juanicipio project in Mexico. This project is a joint project between Fresnillo plc and MAG. The latest significant update from the company arrived on January 27th, 2021.
MAG Silver announced the fourth quarter production from the Juanicipio Project. 30,397 tons of development material were processed in the quarter. This makes total production for the quarter on a 100% basis of 230 thousand silver ounces and 443 gold ounces. George Paspalas, the President and CEO of the company added, “We’ve now successfully milled close to 73,000 tonnes of development material at the Fresnillo plant since early August of 2020 generating cash-flow to help offset capex and gaining valuable metallurgical understanding at the same time”. The company expects to continue its processes throughout 2021, and lead it towards commercial production.Great Panther Mining Limited
Now let’s talk about Great Panther Mining Limited. Great Panther Mining Limited is a mining and exploration company that actively searches for silver, gold, lead, copper, and zinc ores. It operates the Tucano gold mine in Brazil, as well as other mines located in Mexico. It additionally operates the Argosy project out in Canada. Time to check out Great Panther’s most recent market momentum as of March 2021.
[Read More] Looking For Silver Stocks To Buy? 4 To Watch
GPL stock is just near the cusp of reaching $1 a share again. GPL stock price is at $0.94 a share on average as of March 2nd, 2021. A new update is expected very soon from Great Panther that could be make or break for GPL stock reaching that price point. On March 4th, 2021 the company will be releasing its fiscal year 2020 financial results before market open. It will be very interesting to see how this report affects GPL stock.SilverCrest Metals Inc.
The final silver stock to watch on this list is SilverCrest Metals Inc. SilverCrest Metals is a mining company that will actively acquire land, explore, and develop different properties. The properties in mention focus on precious metals, and are located in Mexico. SilverCrest’s main resources searched for are silver and gold. Present day it runs the Las Chispas project holding 28 concessions totally 1400.96 hecatares, in Sonora, Mexico. Let’s check out the recent performance of the final silver stock to watch on this list.
On February 24th, the company announced the initial drill results for its El Picacho Property. In this announcement it reported 41 initial drill holes with 21 drill hole intercepts that average 4.1 meters. The drilling has discovered a near parallel vein to El Picacho Vein with 7 drill hole intercepts, which has expanded the mineralized footprint of the company.