After getting pummeled for multiple sessions, silver prices are finally starting to get their legs back under them. Also the hint of QE3 or further easing is getting the silver bulls excited once again. As the EU continues to fumble about for a solution to the growing sovereign debt contagion, most analysts expect a return to the rally heyday for both gold and silver.
Currently silver is up 67 cents to nearly $28 per ounce. Silver watches are waiting to see if it it can reclaim the $30 level and push higher out of that old range it was in before this pullback.
Silver Stocks
Silver Wheaton Corp. (NYSE:SLW) is up 4.81% this morning at $24.65. SLW is seeing heavy volume already today with 3.3 million shares and trades 5.5 million shares a day on average. SLW shares have dipped more than $2 a share in the past week as Euro concerns sent the overall market lower. The company has a market cap of 8.61 billion.
Hecla Mining Co. (NYSE:HL) is up 4.28% today at $3.90. HL has traded 2 million shares so far today and trades 5.7 million shares a day on average. HL shares are have dropped as much as $0.40 a share in the past five days. HL shares have bounced back though over the previous two days by $0.20 a share. The company has a market cap of 1.11 billion.
ProShares Ultra Silver (NYSEARCA:AGQ) is up 6.06% today at $40.25. AGQ has traded 1 million shares so far today and trades 2.1 million shares a day on average. AGQ shares are rising today as silver prices jump.
iShares Silver Trust (NYSEARCA:SLV) is up 2.89% today at $27.13. SLV has traded 7.3 million shares so far today and should eclipse its daily average of 17.9 million shares. Traders are pouring back into commodities as the overall market continues lower.
Pan American Silver Corp. (NASDAQ:PAAS) is up 7.93% this morning at $16.08. PAAS has traded 1.7 million so far today and is nearing its daily average of 1.9 million shares. Pan American Silver announced earlier this week it will restart a share repurchase program for up to 5.3 million shares. The company has a market cap of 1.66 billion.
Endeavour Silver Corp. (NYSE:EXK) is up 5.30% today at $7.95. EXK has traded 717 thousand shares so far today and trades 1.2 million shares a day on average. EXK shares have dropped as much as $1 a share over the past week. The company has a market cap of 702.57 million.
Silver Standard Resources Inc. (NASDAQ:SSRI) is up 2.46% today at $10.44. SSRI has traded 783 thousand shares so far today and trades 977 thousand shares a day on average. SSRI shares have slipped as much as $2 a share this week before bouncing today. The company has a market cap of 848.64 million.
Great Panther Silver Ltd (AMEX:GPL) is up 11.04% today at $1.71. GPL has traded 485 thousand shares so far today and trades 787 thousand shares a day on average. GPL shares fell as much as $0.40 a share earlier this week before rallying today. The company has a market cap of 263.81 million.
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