Investing in the precious metal industry can be achieved in many unique ways. Buying stocks of successful silver companies is becoming an increasingly popular option. Finding the right silver company to invest in can be somewhat tricky.
Wheaton Precious Metals Corporation
By far one of the more unique silver mining stocks to invest in has to be Wheaton Precious Metals Corp. It is a company that has generated major success by exploring the silver streaming venture. This means that no active exploration or development of silver mines has taken place under its corporate banner.
Moreover, Wheaton invests in the production of silver through other mining companies. This is achieved by agreeing upon long-term contracts that could yield to securing silver at a cheaper price than the market value.
First Majestic Silver Corporation
One of the bigger companies active in the exploration, development, and production of silver, First Majestic Silver Corp. has made a lot of headlines. The company is also known for its acquisition of existing silver mines, which allowed it to surpass the $1 billion market cap not that long ago.
While its current market cap may seem steep, many investors believe the venture has tremendous upside potential. By owning and operating several silver mines, the sky is the proverbial limit. However, this company’s market position also makes it more prone to losses if the silver price were to retrace. For now, that seems unlikely, but it is crucial to be wary of this aspect.
Endeavour Silver Corporation
Most silver bugs will be familiar with the name of this company. It is a Canadian firm active in the space of developing, acquiring, exploring, and producing silver and silver mines. It also has diversified its portfolio by dedicating resources to gold. Playing both markets have proven to be a successful strategy over the years.
What makes Endeavour Silver Corporation worthwhile is its high grade of silver production. It is virtually unmatched in the industry as a whole. Several of its current mines also have future potential, although that is an aspect no one should actively gamble on.
Being the oldest silver and gold mining company in North America has its own particular appeal. Hecla Mining Company has been around for nearly 10 years now, and still manages to be very successful year over year. It boasts low-cost silver mining operations in the US, which allows it to turn a profit more often than not.
Additionally, Hecla Mining’s gold ventures should not be overlooked either. Its Quebec operation is of great value, and other operations across the US, Canada, and Mexico will yield significant resources following the COVID-19 pandemic. Certainly a company to keep an eye on, given its track record.
Pan American Silver Corp.
Focusing its attention on Mexico and South America has paid dividends for Pan American Silver Corp. By exploring, developing, and producing silver from various locations, the company has gained a lot of momentum. Interestingly enough, other precious metals discovered while extracting silver ore – such as gold and copper – are also sold whenever possible.
The outlook for Pan American Silver Corp. seems positive. This is primarily due to the current bullish silver price momentum. Additionally, the company’s overall production seems to keep increasing every year, yielding higher profits to boot.