The 10 Best Silver Mining Stocks in 2021

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In this article, we take a look at the 10 best silver mining stocks in 2021. You can skip our in-depth analysis of silver mining companies and their future prospects and jump straight to the The 5 best silver mining stocks in 2021.

In uncertain times, investors often take refuge in precious metals. Precious metals, especially gold and silver, become an integral part of investor portfolios, especially during inflation. Gold has always been central to the precious metals industry, but the situation reversed in 2020 as silver stocks continued to outperform gold stocks. Silver prices hit one earlier this year Eight year high when Reddit’s WallStreetBets piled into the metal.

According to the data collected by Fact set In April 2021, silver rose 70% in 2020 compared to gold, which rose 4% over the same period. One reason for this growth is the industrial use of silver, particularly in solar products, electric vehicles, and semiconductors. A report published by The Silver Institute says the auto industry is projected to consume 61 million ounces of silver in 2021. That number could reach 88 million ounces in five years.

According to a report by The Silver Institute, Physical investments such as bullion coins and bars are projected to hit 257 million ounces in 2021, a six-year high. The ETFMG Prime Junior Silver Miners ETF (SILJ), which owns many well-known silver stocks such as Pan American Silver Corp. (NASDAQ: PAAS), SSR Mining Inc. (NASDAQ: SSRM), Hecla Mining Company (NYSE: HL), Yamana Gold Inc. (NYSE: AUY) and Fortuna Silver Mines Inc. (NYSE: FSM), won 27.93% last year, in line with the Russell 1000’s return of 28.2% over the same period.

Recently, Bank of America named silver an “important metal for future technology” and forecast the metal’s average value at $ 27.71 an ounce in 2021. The bank claimed that silver will benefit from growing demand for solar panels and electrical appliances . SSR Mining Inc. (NASDAQ: SSRM) and Pan American Silver Corp. (NASDAQ: PAAS) are among the bank’s top picks in the precious metals sector.

Photo of Scottsdale Mint At Unsplash

Our methodology:

With that in mind, let’s analyze the list of the best silver mining stocks in 2021. In selecting these stocks, we took into account hedge fund sentiments, analyst ratings, long-term growth potential and fundamentals.

Why pay attention to hedge fund sentiment when choosing stocks?

Insider Monkey’s research identified a select group of hedge fund holdings ahead of time that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. 100.1% for the S&P 500 ETF (SPY). Our stock selection outperformed the market by more than 86 percentage points (see the details here). Because of this, we believe that hedge fund sentiment is an extremely useful indicator that investors should look out for. You can subscribe to our free newsletter on our homepage to get our stories in your inbox.

Best Silver Mining Stocks in 2021

10. Gatos Silver, Inc. (NYSE: GATO)

Number of hedge fund holders: 2

Gatos Silver, Inc. (NYSE: GATO) is an American silver mining and exploration company focused on high-grade silver deposits in geopolitically stable areas. The company was founded in 2009 and is headquartered in Colorado, USA. It ranks tenth on our list of the best silver mining stocks in 2021.

In July 2021, Gatos Silver, Inc. (NYSE: GATO) signed an agreement with the Bank of Montreal for a $ 50 million revolving credit facility (RCF) that provides the company with financial flexibility. The company reported net income of $ 13.5 million for the second quarter, compared to a net loss of $ 10.6 million for the same period last year. In July, RBC Capital raised Gatos Silver, Inc. (NYSE: GATO) to outperform with a target price of $ 18 from $ 15. Analyst Michael Siperco expects the company to benefit from the RCF to accelerate exploration of the Los Gatos district.

As of the second quarter of 2021, 2 hedge funds hold positions in Gatos Silver, Inc. (NYSE: GATO) valued at $ 30.6 million.

9. Endeavor Silver Corp. (NYSE: EXK)

Number of hedge fund holders: 8

Endeavor Silver Corp. (NYSE: EXK) is a precious metals mining company that operates three underground silver-gold mines in Mexico. The Company’s Terronera mining project aims to become a leading senior silver producer. It ranks ninth on our list of the best silver mining stocks in 2021.

In the second quarter of 2021, Endeavor Silver Corp. (NYSE: EXK) reported $ 47.7 million in revenue, up 136% year over year. The company sold 1.1 million ounces of silver at an average price of $ 26.82 an ounce. Silver production showed a growth of 80% compared to the same quarter of the previous year. Recently, HC Wainwright announced its price target on Endeavor Silver Corp. (NYSE: EXK) was raised to $ 6.75 and the share was rated “Buy”.

In the second quarter of 2021, 8 hedge funds hold positions in Endeavor Silver Corp. (NYSE: EXK) worth $ 6.45 million. Renaissance Technologies is the company’s largest shareholder, with shares valued at $ 3.7 million.

In addition to Pan American Silver Corp. (NASDAQ: PAAS), SSR Mining Inc. (NASDAQ: SSRM), Hecla Mining Company (NYSE: HL), Yamana Gold Inc. (NYSE: AUY), Fortuna Silver Mines Inc. (NYSE: FSM), and First Majestic Silver Corp. . (NYSE: AG), investors and analysts are also looking to Endeavor Silver Corp. given the company’s long-term growth potential. (NYSE: EXK).

8. First Majestic Silver Corp. (NYSE: AG)

Number of hedge fund holders: 11

First Majestic Silver Corp. (NYSE: AG) is a Canadian mining company focused on gold and silver production in Mexico and the United States. The company generates 60% of its revenue from silver production and sales. First Majestic Silver Corp. (NYSE: AG) has four gold and silver mines with over 5,400 direct employees. It ranks eighth on our list of the best silver mining stocks in 2021.

In the second quarter of 2021, First Majestic Silver Corp. (NYSE: AG) earnings per share of $ 0.05, compared to $ 0.03 for the previous quarter. Revenues for the quarter were $ 154.1 million compared to $ 34.9 million for the same period last year. First Majestic Silver Corp. (NYSE: AG) also announced a quarterly dividend of $ 0.006 per share, up 33% from the previous dividend. In July, HC Wainwright raised its price target for First Majestic Silver Corp. (NYSE: AG) to $ 25 with the stock rated “Buy”.

As of the second quarter of 2021, 11 hedge funds hold positions in First Majestic Silver Corp. (NYSE: AG) worth $ 39.5 million.

7. Turquoise Hill Resources Ltd. (NYSE: TRQ)

Number of hedge fund holders: 11

Turquoise Hill Resources Ltd. (NYSE: TRQ) ranks seventh on our list of the best silver mining stocks in 2021. It is a Canada-based mineral exploration and development company specializing in the exploration and mining of silver, gold and copper. The company is the subsidiary of the multinational metals and mining company Rio Tinto Group (NYSE: RIO).

In the second quarter of 2021, Turquoise Hill Resources Ltd. (NYSE: TRQ) posted a GAAP EPS of $ 0.48, beating the market consensus by $ 0.09. The company’s revenue also showed a year-over-year growth of 14.3% to $ 317 million. Silver revenue accounted for $ 2.9 million of gross sales. In August, Scotiabank Turquoise Hill Resources Ltd. (NYSE: TRQ) as ‘Outperform’ with a price target of C $ 30.

Of the 873 hedge funds tracked by Insider Monkey, 11 hedge funds have positions in Turquoise Hill Resources Ltd. (NYSE: TRQ) worth $ 620.3 million.

In addition to Pan American Silver Corp. (NASDAQ: PAAS), SSR Mining Inc. (NASDAQ: SSRM), Hecla Mining Company (NYSE: HL), Yamana Gold Inc. (NYSE: AUY), Fortuna Silver Mines Inc. (NYSE: FSM), and First Majestic Silver Corp. . (NYSE: AG) investors and analysts are also paying attention to Turquoise Hill Resources Ltd. (NYSE: TRQ) given the company’s long-term growth potential.

6. MAG Silver Corp. (NYSE: MAG)

Number of hedge fund holders: 13

MAG Silver Corp. (NYSE: MAG) is a Canadian exploration and development company specializing in the exploration of mineral properties. The company operates mineral-dominated projects with a focus on silver mining. It ranks sixth on our list of the best silver mining stocks in 2021.

The joint venture between MAG Silver Corp. (NYSE: MAG) and Minera Juanicipio are expected to develop an underground mine with a processing facility of 4,000 tons per day by Q4 2021. The company produced 404,518 ounces of silver in the second quarter of 2021 at an average price of $ 27.17 an ounce. In July, the National Bank raised its price target on MAG Silver Corp. (NYSE: MAG) at C $ 31, with the stock rated “Outperform”.

In the second quarter of 2021, 13 hedge fund positions tracked by Insider Monkey had positions in MAG Silver Corp. (NYSE: MAG) held, up from 12 in the previous quarter. These shares are valued at $ 120.8 million.

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Disclosure. None. The 10 Best Silver Mining Stocks in 2021 was originally published on Insider Monkey.


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