Commodities took a hit overnight on news Fitch downgraded Japan’s soveriegn debt rating due to the country increasing its public sector debt load. This news sent the dollar up, but increased selling pressure in the commodities market. Spot silver prices are currently trading up at around $28.60, off its low of $28 earlier this morning.
Traders are now looking ahead to a EU leaders’ summit in Brussels on Wednesday to see what steps officials will take to control the EU debt crisis.
Silver Stocks
Silver Wheaton Corp. (NYSE:SLW) is up 1.10% today at $25.90. SLW has traded 2 million shares so far today and trades 5.6 million shares a day on average. SLW shares are up nearly $3 a share over the past week. The company has a market cap of 9.18 billion.
Hecla Mining Co. (NYSE:HL) is up 1.94% this morning at $4.2099. HL has traded 1.7 million shares so far today and trades 5.5 million shares a day on average. HL shares are up $0.50 a share in the past five days. The company has a market cap of 1.20 billion.
Silvercorp Metals Inc. (NYSE:SVM) is up 1.95% this morning at $5.74. SVM has traded 610 thousand shares so far today. SVM shares have rallied $0.75 a share since last Wednesday. The company has a market cap of 977.82 million.
Pan American Silver Corp. (NASDAQ:PAAS) is up 1.67% today at $16.69. PAAS has traded 643 thousand shares so far today and trades 2.04 million shares a day on average. PAAS shares are up $1.70 since last Thursday. The company has a market cap of 1.76 billion.
ProShares Ultra Silver (NYSEARCA:AGQ) is up 1.44% today at $42.35. AGQ has traded 671 thousand shares so far today and trades 2.1 million shares a day on average. AGQ shares are up more than $4 a share over the past five days.
iShares Silver Trust (NYSEARCA:SLV) is up 0.64% today at $27.86. SLV has traded 3.8 million shares so far today and trades 17.9 million shares a day on average. SLV shares have jumped nearly $2 a share since last Wednesday.
Endeavour Silver Corp. (NYSE:EXK) is up 1.54% this morning at $8.56. EXK has traded 559 thousand shares so far today and trades 1.3 million shares a day on average. EXK shares are up $1.10 a share over the past week. Endeavour announced today it discovered high grade silver-gold mineralization at its Jalisco, Mexico property. The company has a market cap of 747.47 million.
Silver Standard Resources Inc. (NASDAQ:SSRI) is up 1.02% today at $10.93. SSRI has traded 408 thousand shares so far today and trades 998 thousand shares a day on average. SSRI shares are up $0.70 a share this week. The company has a market cap of 881.60 million.
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