After getting crushed for weeks, silver seems to have found its bottom and is rocketing off of it. Approaching $29 per ounce, the metal is being buoyed be renewed talks of QE3 and further monetary easing. The ongoing EU saga is also helping push the metal off its lows. Silver bulls are counting on a deteriorating atmosphere there which will have investors rushing into safe havens such as gold and silver.
The current silver spot price is up 86 cents to $28.91.
Silver Stocks
Silver Wheaton Corp. (NYSE:SLW) is up 3.57% this morning at $25.41. SLW has traded 2.2 million shares so far today and trades 5.6 million shares a day on average. SLW shares have jumped more than $2 a share in the past three days. The company has a market cap of 9.01 billion.
ProShares Ultra Silver (NYSEARCA:AGQ) is up 4.37% today at $42.23. AGQ has traded 614 thousand shares so far today and trades 2.1 million shares a day on average. AGQ shares have rallied more than $4 a share since Wednesday.
iShares Silver Trust (NYSEARCA:SLV) is up 2.32% today at $27.88. SLV has traded 4.5 million shares this morning and trades 18.1 million shares a day on average. SLV shares have rallied $2 a share since yesterday.
Hecla Mining Co. (NYSE:HL) is up 2.31% today at $3.98. HL has traded 1.3 million shares so far today and trades 5.7 million shares a day on average. HL shares are up $0.30 a share in the past two days. The company has a market cap of 1.13 billion.
Pan American Silver Corp. (NASDAQ:PAAS) is up 1.06% this morning at $16.20. PAAS has traded 640 thousand shares so far today and trades 2 million shares a day on average. PAAS shares have rallied more than $1 a share in the past day. The company has a market cap of 1.69 billion.
Coeur d’Alene Mines Corporation (NYSE:CDE) is up 0.65% today at $16.91. CDE has traded 658 thousand shares so far today and trades 1.6 million shares a day on average. CDE shares have been in a downtrend most of the week, falling about $2 a share since Monday. The company has a market cap of 1.51 billion.
Silvercorp Metals Inc. (NYSE:SVM) is up 5.94% today at $5.7071. SVM has traded 459 thousand shares so far today and trades 1.4 million shares a day on average. Silvercorp Metals missed EPS estimates by $0.02 and missed on revenue for its latest quarterly report. The company did increase its quarterly dividend to $0.025 per share. Silvercorp reported record silver production of 5.6 million ounces. The company has a market cap of 967.41 million.
Endeavour Silver Corp. (NYSE:EXK) is up 4.80% today at $8.30. EXK has traded 421 thousand shares so far today and trades 1.3 million shares a day on average. EXK shares have rallied about $1 a share in the past couple of days. The company has a market cap of 720.18 million.
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