| How Silver Mining Companies Are Performing | |
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Gold Is on a Winning Streak as Global Markets Slump (Continued from Prior Part) Silver: precious or industrial?
The current turmoil in the stock markets has hurt most market participants. Investors are thus opting for safer investments like gold and silver. There has also been increased investment in the Treasuries since the global rout began. Silver has been the second best precious metal and has gained about 2.1% since the first trading day of January. The current unrest has also brought down most commodities that have extensive industrial usage like platinum and copper. Silver is ranked as the fourth best commodity among the 24 commodities listed on the S&P GSCI (Goldman Sachs Commodity Index). During such turbulent times, silver tilts towards its precious metal side rather than the industrial metal side.
Below is a chart that shows the technicals of silver-based mining companies, which make up 8.3% of the Market Vectors Gold Miners ETF (GDX).
Most of the mining companies are still trading in the red despite a rise in gold and silver. The four silver mining companies discussed here are Silver Wheaton (SLW), Pan American Silver (PAAS), Coeur Mining (CDE), and Hecla Mining (HL). All these four companies have relative strength indicators close to 30, which signifies undervaluation and a possible pullback in prices. The current trading prices are also significantly below their 100-day moving average prices, which further points towards possible undervaluation.
The target price ranges for SLW and CDE are almost double the current price levels, whereas PAAS and HL are currently at a 22.9% and 30.9% discount from their 100-day moving average price. The GDX ETF is also trading at a 9.1% discount from its 100-day moving average price $14.2.
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Silver Wheaton est une société basée au Canada. Silver Wheaton est productrice d'argent, de cuivre, d'or, de plomb, de silica et de zinc au Canada, au Mexique, au Perou, au Portugal, en Grece et en Suede, en développement de projets d'argent, de cuivre, d'or et de zinc au Canada et au Chili, et détient divers projets d'exploration au Portugal et en Argentine. Ses principaux projets en production sont ZINKGRUVAN en Suede, KENO HILL (BELLEKENO) et MINTO MINE au Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN et G-9 CAMPO MORADO au Mexique, YAULIYACU au Perou, STRATONI en Grece et NEVES-CORVO au Portugal, ses principaux projets en développement sont PASCUA LAMA au Chili et KUTCHO CREEK au Canada et ses principaux projets en exploration sont PROMOTORIO DURANGO et MONTOROS au Mexique, ALJUSTREL au Portugal et LOMA DE LA PLATA (NAVIDAD) en Argentine. Silver Wheaton est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,4 milliards (992,0 millions US$, 902,8 millions €). La valeur de son action a atteint son plus bas niveau récent le 09 mars 2007 à 10,01 , et son plus haut niveau récent le 15 mai 2017 à 28,53 . Silver Wheaton possède 47 442 200 actions en circulation. |