The silver sector holds a unique position in the market, as it serves both industrial and investment demands. Silver, often considered a safe-haven asset alongside gold, provides investors with a hedge against economic uncertainty and inflation. Meanwhile, its widespread industrial use in electronics, solar panels, and other applications drives demand for the metal. Silver stocks, including mining and production companies, offer investors exposure to the performance of silver and its associated markets. While silver prices can be volatile, these stocks have the potential for significant returns. Particularly during periods of economic instability or when industrial demand is strong.
When considering an investment in silver stocks, it is essential to evaluate the financial health, operational efficiency, and growth prospects of individual companies. Investors should also monitor macroeconomic factors. For example, global growth, inflation rates, and currency fluctuations can impact thesilver market
Additionally, technological advancements and the adoption of renewable energy technologies, which rely on silver for efficient performance, can influence the demand for silver and the performance of silver stocks. On that note, here are three silver stocks to watch in the stock market right now.
Silver Stocks To Invest In [Or Avoid] Now
First Majestic Silver (AG Stock)
First Majestic Silver Corp. (AG) is a publicly listed mining corporation concentrating on silver and gold extraction in Mexico and the United States. The company owns and manages several mines, including the San Dimas Silver/Gold Mine, the La Encantada Silver Mine, the Santa Elena Silver/Gold Mine, and the Jerritt Canyon Gold Mine.
In mid-February, First Majestic Silver reported its fourth-quarter 2022 earnings results. Diving in, the company notched in a loss of $0.07 per share, with revenue of $148.2 million for Q4 2022. This is in comparison to Wall Street’s consensus estimates which were a loss of $0.04 with revenue estimates of $156.0 million.
Over the last month of trading, shares of AG stock have rebounded by 16.33%. While, during Wednesday’s mid-morning trading action, AG stock is trading lower on the day so far by 1.58% at $7.48 per share.
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Second, Wheaton Precious Metals Corp (WPM) is a prominent precious metals streaming company that offers investors exposure to both silver and gold through agreements with mining companies.
Meanwhile, last month Wheaton Precious Metals Corp. announced its Board of Directors has declared the first quarterly cash dividend of 2023, amounting to US$0.15 per common share. Shareholders of record as of March 24, 2023, will receive the dividend, which will be distributed around April 6, 2023, with the ex-dividend trading date set for March 23, 2023. This results in an annual dividend yield of 1.21%.
Moving along, in the last month of trading, shares of WPM stock have jumped by 19.90%. Meanwhile, on Wednesday, WPM stock opened lower by 1.12% on the day so far, trading at $49.46 a share.
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Pan American Silver (PAAS Stock)
Lastly, Pan American Silver Corp. (PAAS) is one of the world’s largest primary silver producers with operations across the Americas, including Mexico, Peru, and Bolivia, offering investors a well-established player in the silver mining industry with a solid track record.
At the end of March, Pan American Silver Corp. and Yamana Gold Inc. announced the completion of Pan American’s previously disclosed acquisition of all issued and outstanding common shares of Yamana. This follows Yamana’s sale of its Canadian assets, including specific subsidiaries and partnerships holding Yamana’s interests in the Canadian Malartic mine, to Agnico Eagle Mines Limited. The acquisition was executed through a plan of arrangement under the Canada Business Corporations Act.
Looking at the last month of trading, shares of PAAS stock have recovered by 18.82%. Meanwhile, during Wednesday’s mid-morning trading session, PAAS stock is trading slightly higher on the day by 0.47% at $19.16 a share.
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