After a lackluster jobs report it did not take long for the rumor mill to get cranked up. This time it was all about QE3. The silver bull’s dream policy. The questions that remain outstanding are what is the catalyst to cause it and what shape it would take? Silver prices have been drifting all over a range in recent weeks as external forces pulled them in differing directions. Today it seems investors are looking to hedge their bets on a possible downturn in the labor market.
Currently, the silver spot price is up 76 cents to $32.37 per ounce.
Silver Stocks
Hecla Mining Co. (NYSE:HL) is up 4.56% today at $4.3707. HL has traded 1.9 million shares so far today and trades 6.3 million shares a day on average. HL shares have rallied nearly $0.30 a share in the past few days. The company has a market cap of 1.24 billion.
Silver Wheaton Corp. (NYSE:SLW) is up 2.79% today at $31.44. SLW has traded 1.6 million shares so far today and trades 5.1 million shares a day on average. SLW shares have been trading between $31.50 and $30.00 over the past week or so. The company has a market cap of 11.05 billion.
iShares Silver Trust (NYSEARCA:SLV) is up 2.64% this morning at $31.45. SLV has traded 7.1 million shares so far today and trades 19.6 million shares a day on average. SLV shares are up $1 a share from its low of $30.40 on Tuesday.
ProShares Ultra Silver (NYSEARCA:AGQ) is up 4.98% today at $54.41. AGQ has tarded 912 thousand shares in early trading and trades 2.4 million shares a day on average. AGQ shares have jumped more than $3 a share in the past few days.
Endeavour Silver Corp. (NYSE:EXK) is up 4.49% today at $9.28. EXK has traded 456 thousand shares a day on average and trades 1.3 million shares a day on average. EXK shares have jumped more than $0.60 a share in the past 3 days. The company has a market cap of 816.29 million.
Silvercorp Metals Inc. (NYSE:SVM) is up 3.54% in early trading at $6.73. SVM has traded 293 thousand shares so far today and trades 1.6 million shares a day on average. SVM shares have climbed more than $0.40 a share since Tuesday. The company has a market cap of 1.15 billion.
Great Panther Silver Ltd. (AMEX:GPL) is up 4.35% today at $2.16. GPL has traded 250 thousand shares so far today and trades 878 thousand shares a day on average. GPL shares are up about $0.20 a share in the past two days. The company has a market cap of 295.43 million.
Silver Standard Resources Inc. (NASDAQ:SSRI) is up 3.10% this morning at $14.29. SSRI has traded 251 thousand shares so far today and trades over a million shares a day on average. SSRI shares are up nearly $1 a share from yesterday’s intraday low. The company has a market cap of 1.16 billion.
About Martin Stephenson
