The broader market rally is keeping silver in check this morning. With spot prices down 15 cents to $31.65, silver continues to be stuck in a range waiting for the next shoe to drop to move it in either direction.
Silver bulls did get a boost from Thomson Reuters GFMS today when they released their forecast for silver for the second half of 2012. The global head for metal analytics said that by the end of 2012, a breakout to the upside is probably. They see silver nearing $40 per ounce.
Silver Stocks
ProShares Ultra Silver (NYSEARCA:AGQ) is up 0.10% this morning at $52.22. AGQ has traded 278 thousand shares this morning and trades 2.4 million shares a day on average. AGQ shares are up slightly this week.
iShares Silver Trust (NYSEARCA:SLV) is up 0.13% today at $30.84. SLV has traded 2.3 million shares so far today and trades 19.2 million shares a day on average. SLV shares are pretty much flat on the week.
Hecla Mining Co. (NYSE:HL) is up 1.46% today at $4.1699. HL has traded 1.2 million shares this morning and trades 5.9 million shares a day on average. HL shares are rebounding somewhat today after the stock dropped about $0.10 a share yesterday. The company has a market cap of 1.20 billion.
Silver Wheaton Corp. (NYSE:SLW) is up 0.61% in early trading at $29.67. SLW has traded 795 thousands shares so far today and trades 5.3 million shares a day on average. SLW shares have dropped $1 a share since Tuesday. The company has a market cap of 10.49 billion.
Coeur d’Alene Mines Corporation (NYSE:CDE) is down 0.14% today at $21.83. CDE has traded 377 thousand shares so far today and trades 1.5 million shares a day on average. CDE shares have fallen about $0.80 a share this week. The company has a market cap of 1.98 billion.
Pan American Silver Corp. (NASDAQ:PAAS) is up 0.47% this morning at $19.36. PAAS has traded 247 thousand shares so far today and trades 2.02 million shares a day on average. PAAS shares have fallen as much as $1 a share this week. The company has a market cap of 2.03 billion.
Silvercorp Metals Inc. (NYSE:SVM) is up 0.15% today at $6.66. SVM has traded 222 thousand shares this morning and trades 1.6 million shares a day on average. SVM has seen choppy trading this week with a high of over $6.80 and a low of $6.50. The company has a market cap of 1.15 billion.
Silver Standard Resources Inc. (NASDAQ:SSRI) is down 0.15% today at $13.66. SSRI has traded 182 thousand shares so far today and trades 986 thousand shares a day on average. SSRI shares have fallen $0.60 a share this week. The company has a market cap of 1.12 billion.
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