Silver prices are dipping slightly on a strengthening dollar this morning. Meanwhile, Wall Street’s reaction to the economic data coming out is decidedly negative. Concerns are emerging out of all areas of the global economy. Be it China’s growth miss, Europe’s ongoing sovereign debt saga and the down tick in consumer sentiment. Gas prices may finally be emerging in the data points on how they are affecting consumers.
Currently the silver spot price is accelerating to the downside. At last check it was off 44 cents to $31.94.
Silver Stocks to Watch
Silver Wheaton Corp. (NYSE:SLW) is down 2.72% this morning at $31.17. SLW has traded 924 thousand shares so far today and trades 5.1 million shares a day on average. SLW shares rallied $1.50 yesterday, but are trending lower today as is the whole market. The company has a market cap of 11.02 billion.
iShares Silver Trust (NYSEARCA:SLV) is down 1.24% today at $31.04. SLV has traded 2.5 million shares so far today and averages 19.5 million shares. SLV shares are still up slightly on the week.
ProShares Ultra Silver (NYSEARCA:AGQ) is down 2.47% at $53.13. AGQ has traded 527 thousand shares this morning and trades 2.4 million shares a day on average. AGQ shares are up about $1 a share on the week thanks to yesterday’s $3 rally.
Hecla Mining Co. (NYSE:HL) is down 1.83% is down 1.83% this morning at $4.29. HL has traded 569 thousand shares in early trading and trades 6.1 million shares a day on average. HL shares are slipping as silver prices trend lower this morning. The company has a market cap of 1.22 billion.
Endeavour Silver Corp. (NYSE:EXK) is down 3.19% today at $9.10. EXK has traded 297 thousand shares so far today and trades 1.3 million shares a day on average. Endeavour Silver announced yesterday it saw a 19% jump in silver production in the first quarter. The company has a market cap of 796.98 million.
Pan American Silver Corp. (NASDAQ:PAAS) has dropped 1.95% this morning at $20.03. PAAS has traded 452 thousand shares so far today and trades 1.9 million shares a day on average. PAAS shares are slightly negative on the week. The company has a market cap of 2.10 billion.
Coeur d’Alene Mines Corporation (NYSE:CDE) is down 2.43% today at $22.46. CDE has traded 249 thousand shares so far today and trades 1.5 million shares a day on average. The company has a market cap of 2.02 billion.
Silver Standard Resources Inc. (NASDAQ:SSRI) is down 2.48% in early trading at $14.18. SSRI has traded 219 thousand shares so far today and trades just over a million shares a day on average. The company has a market cap of 1.14 billion.
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