Silver Prices Drift Higher. Silver Stocks to Watch » Active Investor

Silver Prices Drift Higher. Silver Stocks to Watch » Active Investor


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With most major global markets closed today for May Day, silver is drifting around without any real sense of direction. A beat on the ISM top-line number is boosting the market, but if you get into the internals there is a sense of storm clouds building.

What silver and gold in this case need is a firm indication from the Fed on what it will do. With Europe is a near constant state of teetering on the edge of disaster, the US has so far been able to decouple away from that. The main report that will be a good tell on where the Fed might head will be the NFP report on Friday. If it disappoints in a big way it could push the Fed into some sort of action. For silver bulls it is all about QE.

Currently, the silver spot price is off its session highs, up 18 cents to $31.19 per ounce.

Silver Stocks

Silver Wheaton Corp (NYSE:SLW) is up 0.46% this morning at $30.67. SLW has traded 1.29 million shares so far today and trades 5.09 million shares a day on average. SLW shares are up 5.78% over the past five days. The company has a market cap of 10.79 billion.

ProShares Ultra Silver (NYSEARCA:AGQ) is up 0.66% in early trading at $50.26. AGQ has traded 468 thousand shares so far today and trades 2.2 million shares a day on average. AGQ shares are up more than $3 a share from a low of $47 last Wednesday.

iShares Silver Trust (NYSEARCA:SLV) is up 0.46% today at $30.26. SLV has traded 3.6 million shares so far today and trades 18.2 million shares a day on average. SLV shares are up $1 a share after hitting a weekly low of $29.20 last Wednesday.

Hecla Mining Co. (NYSE:HL) is up nearly 1% this morning at $4.32. HL trades 717 thousand shares so far today and averages 5.7 million shares a day. HL shares have jumped $0.25 a share, or about 4%, in the past week. The company has a market cap of 1.22 billion.

Silvercorp Metals Inc. (NYSE:SVM) is up 1.15% this morning at $7.01. SVM has traded 660 thousand shares so far today and trades 1.5 million shares a day on average. Silvercorp will release fourth quarter results on May 9 and hold a conference call the next day. SVM shares are up more than 9% since last Wednesday. The company has a market cap of 1.19 billion.

Pan American Silver Corp. (NASDAQ:PAAS) is down 1.18% in early trading at $19.29. PAAS has traded 745 thousand shares so far today and trades 1.8 million shares a day on average. PAAS shares are up 3.23% over the past week. The company has a market cap of 2.01 billion.

Endeavour Silver Corp. (NYSE:EXK) is up 0.81% this morning at $9.35. EXK has traded nearly 400 thousand shares in early trading and trades 1.2 million shares a day on average. EXK shares are up nearly 12% over the past five days. The company has a market cap of 816.73 million.

Great Panther Silver Ltd (AMEX:GPL) is up 1.84% today at $2.2201. GPL has traded 405 thousand shares this morning and trades 791 thousand shares a day on average. GPL shares are up 16.58% over the past week. The company has a market cap of 309.17 million.

Silver Standard Resources Inc. (NASDAQ:SSRI) is up 1.25% today at $14.60. SSRI has traded 320 thousand shares so far today and averages 913 thousand shares a day. SSRI shares are up nearly 8% over the past week. The company has a market cap of 1.18 billion.

First Majestic Silver Corp. (NYSE:AG) is up 1.59% today at $16.02. AG has traded 179 thousand shares so far today and averages 706 thousand shares a day. AG shares are up more than 7% since last Wednesday. The company has a market cap of 1.69 billion.