Gold may be the king of metals but this week silver is shining through. The yellow metal hit a five-year low on Monday, forcing investors to pull away and reconsider other precious metals. Prices for gold dropped all the way to $1,080.00 an ounce -- its lowest levels since February 2010 --- before rebounding to trade above $1,100.
“We expect further losses in gold,” Commerzbank analyst Daniel Briesemann said. “Gold prices are falling against the weaker dollar, declining equity markets -- those are clearly bad signs. Everything speaks against rising gold prices.”
While gold continues to crash and burn, we examine three stocks in silver that investors should watch out for.
Hecla Mining Company (NYSE:HL)
Hecla Mining produced roughly 11 million ounces of the metal in 2014 and expects to produce around 10.5 million ounces in 2015, according to Mining Global.
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Shares for the company have been on the rise and the short term target price has been estimated at $3.17. Many sources believe the target price for the stock could hit as high as $4.
According to the American Trade Journal, shares for Helca Mining rose 6.76 percent on Tuesday and made it ways into the gainers of the day.
Coeur Mining Inc (NYSE:CDE)
Precious metals miner Coeur Mining is an intriguing choice for investors right now as the company’s stock rose 3.87 percent on Tuesday. After starting at $4.18 the stock hit $4.355 as a peak level and $4.16 as the lowest level, settling at $4.28.
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According to the American Trade Journal, the daily volume was measured at 3,115,253 shares. The 52-week high of the share price for Coeur Mining is $8.94 and the 52-week low is $3.37. The company has a market cap of $588 million.
First Majestic Silver Corp (NYSE:AG)
First Majestic Silver is garnering a lot of attention lately as the stock received a short term price target of $6.44, including estimates going as high as $7. On Tuesday, stock for the company rose 4.35 percent, opening trading at $3.9 before hitting $4.01 as a peak level and $3.77 as the lowest level.
According to the Insider Trading Report, the 50-day moving average for the stock is $4.82 and the 200 day moving average is recorded at $5.38. S&P 500 has rallied 7.3 percent during the last 52-weeks.
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