Below you can see our list of the 5 best silver stocks to buy right now. For a detailed discussion as well as a more comprehensive list of silver stocks please see the 12 best silver stocks to buy right now.
5. Coeur Mining Inc (NYSE:CDE)
No of HFs: 15
Total Value of HF Holdings: $44 Million
Coeur Mining Inc is a precious mining company operating five mines located in North America.
The top hedge fund holder is Eric Sprott’s Sprott Asset Management with $17 million invested in the stock at the end of September.
During the third quarter of 2020, the company’s revenue increased by 49% quarter-over-quarter to $229.7 million. Gold and silver production increased by 23% quarter-over-quarter to 95,995 million ounces.
4. Hecla Mining Co (NYSE:HL)
No of HFs: 17
Total Value of HF Holdings: $43 Million
Hecla Mining Co is the largest primary silver producer in the US with operating mines located in North America. The company is well known for its Silver Valley located in Idaho, which has the second-largest deposits of silver in the country.
The top hedge fund holder is Jim Simon’s Renaissance Technologies with more than $14 million invested in the stock at the end of September.
During the third quarter Hecla reported cash and cash equivalents of approximately $97 million. The strong operating performance was from an increase in silver production and managing all mines during the recent pandemic. Phillips S. Baker, Js. President and CEO said
“This operating performance combined with higher silver prices allowed us to close the quarter with $97 million of cash and cash equivalents while fully repaying our revolving credit facility. Given our free cash flow generation, we expect to spend about $5 million more in exploration, and based on our realized silver price for the quarter being above $25, we expect the silver-linked dividend to be triggered.”
3. SSR Mining, Inc. (NASDAQ:SSRM)
No of HFs: 18
Total Value of HF Holdings: $306 Million
SSR Mining, Inc. is a gold, silver, zinc, and tin producer based in Vancouver. The company owns the largest silver mine in Argentina.
The company’s diamond drilling program for the Çöpler copper-gold porphyry target found positive results. Rod Antal, the president, and CEO said,
“The C2 results are another example of the long-term potential of Çöpler. It has long been contemplated that there are copper-gold porphyries associated with the Çöpler mineralization and recent in-pit exploration mapping identified mineralization and structures pointing to the possibility of a porphyry. Drilling began mid-year with the first four holes all returning long mineralized intercepts. While we are in the early stage for this exploration target, we are excited by the potential of C2 for a large volume and higher-grade zone close to what will be the ultimate bottom of the Çöpler Main pit. Drilling is continuing with three drills exploring the extent of the mineralization while we also start metallurgical test work programs. C2 is another excellent example of our organic growth opportunities”
During the third quarter of the year, the company reported a net income of $26.8 million or $0.19 per share and an adjustable attributable net income of $67.8 million or $0.49 per share.
Pixabay/Public Domain
2. Pan American Silver Corp (NASDAQ:PAAS)
No of HFs: 28
Total Value of HF Holdings: $498 Million
Pan American Silver Corp is the world’s premier silver mining company based in Canada. The company has mines located in Mexico, Peru, Bolivia, and Argentina.
The top hedge fund holder is David Greenspan’s Slate Path Capital with $133 million invested in the stock at the end of September.
During the third quarter of 2020, the company had revenue of $300.4 million and a net income of $65.3 million.
Pixabay/Public Domain
1. Wheaton Precious (NYSE:WPM)
No of HFs: 29
Total Value of HF Holdings: $1.8 billion
Wheaton Precious is one of the world’s largest precious metal streaming companies that produce over 26 million ounces.
For this stock, the top hedge fund holder is Jean-Marie Eveillard’s First Eagle Investment Management with $899 million invested in the stock at the end of September.
During the quarter ending September 30, 2020, the company’s reported revenue was $307 million representing a 37% increase relative to the third quarter of 2019.
Please also see Top 10 Earnings Growth Stocks with Dividends for 2021 and 10 largest silver producing countries
