In this article, we will be looking at the 5 best silver mining stocks to invest in. If you want to see our detailed analysis of the precious metals industry, go directly to the 10 Best Silver Mining Stocks to Invest In.
5. SSR Mining Inc. (NASDAQ: SSRM)
Number of Hedge Fund Holders: 16
SSR Mining Inc. (NASDAQ: SSRM) acquires and develops precious metal resource properties in Turkey and the Americas. The company focuses on silver, gold, lead, and zinc deposits, and ranks 5th on our list of the best silver mining stocks to invest in.
This May, National Bank raised its price target on SSR Mining Inc. (NASDAQ: SSRM) to $28.95 while retaining its Outperform rating on the stock. In the first quarter of 2021, SSR Mining Inc. (NASDAQ: SSRM) had an EPS of $0.47, beating estimates by $0.08. The company’s revenue was $369.33 million, up 124.79% year over year and beating estimates by $40.66 million, and it has a gross profit margin of 51.67%.
By the end of the first quarter of 2021, 16 hedge funds out of the 866 tracked by Insider Monkey held stakes in SSR Mining Inc. (NASDAQ: SSRM). The total value of their stakes was roughly $178 million. This is compared to 18 hedge fund holders in the previous quarter with a total stake value of about $237 million.
Palm Valley Capital mentioned SSR Mining Inc. (NASDAQ: SSRM) in its first-quarter 2021 investor letter. Here’s what they said:
“As precious metals and precious metal miners underperformed during the quarter, several of the mining stocks on our possible buy list became more attractively priced. After declining 33% from the beginning of the year, we purchased SSR Mining, an intermediate gold company with four producing mines located in the United States, Turkey, Canada, and Argentina. In 2021, the company expects to produce 720,000 to 800,000 gold-equivalent ounces with all-in sustaining costs of $1,050 to $1,110 per ounce. At current gold prices, we expect SSR Mining to generate meaningful free cash flow this year, adding to its cash balance. Currently, the company’s balance sheet is very strong and liquid with $470 million in net cash, $1.2 billion in net working capital, and $3.9 billion in tangible book value. We were happy to purchase SSR Mining at a discount to our valuation of its net assets. In addition to being cheap, we think it’s a nice inflation hedge.”