2 Silver Mining Stocks Wall Street Forecasts More Than 45% Rally By StockNews
© Reuters 2 silver mining stocks Wall Street predicts rally of more than 45%
The silver mining industry is hurtling out of its pandemic-induced lows as demand for silver rises from reopened industries and investors looking for a safe place to store value. In addition, analysts forecast significant growth in the silver production rate over the long term. With that in mind, Wall Street analysts expect SSR Mining (NASDAQ 🙂 and Silvercorp (SVM) to appreciate more than 45% in value in the near future. So let’s look at these names. The pandemic has had a detrimental impact on the silver mining industry over the past year, with eight of the top silver producers reporting a decline in production.
However, with mining resuming as economies around the world gradually reopened, analysts expect global silver production to grow 8.1% to 918.3 million ounces in 2021. Silver production is also expected to exceed one billion ounces by 2024 and grow at an annual rate of 3.2%.
Given the promising industry outlook, Wall Street analysts are forecasting silver mining stocks, SSR Mining Inc. (SSRM) and Silvercorp Metals Inc . (NYSE 🙂 will rebound more than 45% in the short term.
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