European woes returned to the market today as leaders convene for a summit on the burgeoning Greek debt crisis. While promising to do all they can to keep Greece within the union, the uncertainty is causing headaches across the market.
Silver prices, along with gold, are taking sizable hits from the lack of a clear path for Greece. Once the EU stops flailing around and provides a clear path for Greece, most analysts expect the metals to start recovering some of their steep losses.
Currently the silver spot price is down over 80 cents.
Silver Stocks
Silver Wheaton Corp. (NYSE:SLW) is down 3.26% today at $24.63. SLW has traded 1.6 million shares this morning and trades 5.6 million shares a day on average. SLW shares are down more than $1 a share from yesterday’s high of around $26.20. The company has a market cap of 8.76 billion.
Hecla Mining Co. (NYSE:HL) is down 1.72% today at $4. HL has traded 1.04 million shares so far today and trades 5.5 million shares a day on average. HL shares are down more than $0.20 in the past two days. The company has a market cap of 1.14 billion.
Pan American Silver Corp. (NASDAQ:PAAS) is down 2.41% this morning at $15.87. PAAS has traded 629 thousand shares so far today and trades 2 million shares a day on average. PAAS shares are down more than $1.50 a share since yesterday. The company has a market cap of 1.68 billion.
Endeavour Silver Corp. (NYSE:EXK) is down 3.99% today at $7.95. EXK has traded 519 thousand shares so far today and trades 1.3 million shares a day on average. EXK shares jumped yesterday following news that the company discovered high grade gold and silver mineralization at one of its properties in Mexico. The stock is diving today as commodity prices get hit hard ahead of EU summit.
ProShares Ultra Silver (NYSEARCA:AGQ) is down 6.66% this morning at $38.05. AGQ has traded 1.1 million shares so far today and trades 2.1 million shares a day on average. AGQ shares are down more than $4 a share over the past two days.
iShares Silver Trust (NYSEARCA:SLV) is down 3.40% today at $26.41. SLV has traded 8.4 million shares so far today and trades 17.8 million shares a day on average. SLV shares are down $1.50 a share since yesterday’s midday high of nearly $28.
Silvercorp Metals inc. (NYSE:SVM) is down 4.36% this morning at $5.49. SVM has traded 430 thousand shares so far today and trades 1.5 million shares a day on average. SVM shares are selling off as silver prices dip. SVM was in a decent rally over the last five days as it rose from $5.20 to $5.80. The company has a market cap of 936.87 million.
Coeur d’Alene Mines Corporation (NYSE:CDE) is down 2.50% today at $16.40. CDE has traded 367 thousand shares so far today and trades 1.6 million shares a day on average. CDE shares are down more than $1 a share over the past few days. The company has a market cap of 1.46 billion.
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