Despite Low Prices Silver Miners Remain Optimistic Going Forward
Five Star Equities Provides Stock Research on Silver Wheaton and Silvercorp Metals
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/24/12 -- Silver stocks have been surging in the last month as silver prices have rebounded on renewed optimism in Europe. The Global X Silver Miners (SIL) has soared over 16 percent in the last month, nearly double the iShares Silver Trust ETF (SLV) gain of 9 percent over the same period. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Silver Wheaton Corp. (NYSE: SLW)(TSX: SLW) and Silvercorp Metals Inc. (NYSE: SVM)(TSX: SVM).
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Recent financial results of silver miners have shown that silver prices are having a negative impact on profits. While some miners have seen production rise, revenues have fallen as a result of lower prices. Silver prices have fallen approximately 23 percent from the second quarter of last year. Despite the low prices silver companies appear to be optimistic going forward. Companies such as -- First Majestic and Coeur d'Alene -- have begun share repurchase programs, while others have expanded their portfolios by either acquiring or investing in other companies.
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Silver Wheaton is the largest silver streaming company in the world. Based upon its current agreements, forecast 2012 attributable production is approximately 28 million silver equivalent ounces. The company earlier this month reported it had acquired 100% of the silver production from Hudbay Minerals' currently producing flagship mine, 777.
Silvercorp is engaged in the acquisition, exploration, development and mining of high-grade silver-related mineral properties in China and Canada. The company recently reported intercept of 4.55 meters grading 2,196 grams per ton silver at their LM Mine in the Ying Mining District of China.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 24.08.2012 - 12:20 Uhr
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