Best Silver Stocks to Buy for a Rainy Day

Hassan Maishera - November 29, 2019

Investors have mostly had their eyes on gold as it remains the most popular precious metal. However, silver has a wide range of industrial uses, which has seen silver stocks continue to perform well in the market.

While the gold price has surged by 16% since the start of 2019, Silver has grown by just 8% during that period. However, some silver mining companies have performed excellently in recent quarters due to demand in several industries such as dentistry, medical instruments, electrical contacts, solar panels, and water filtration.

Silver Stock to Buy Cheap

Investors seeking relief from the volatile equity markets sometimes look to silver stocks due to the low-cost investment involved. Here are a few silver stocks you can buy for a rainy day.

First Majestic Silver Corp. (AG)

Canadian-based First Majestic Silver Corp is one of the world’s largest silver miners. First Majestic Silver’s is up by 67% already this year. At its current price, First Majestic Silver’s stock could be an excellent silver stock to buy.

silver stocks

First Majestic Silver Corp. is one of the leading silver companies in the world.

In the third quarter of 2019, revenues for the First Majestic Silver Corp went up by 10%. The company recorded an income of $97 million, mainly due to the increasing silver prices during the quarter. The adjusted earnings were $0.06 during the previous quarter.

Pan American Silver (PAAS)

Pan American Silver is another Canadian multinational silver mining company. With most of its operations in Latin America, this company is one of the biggest silver producers in the world. This stock might have substantial upward potential.

According to their third-quarter earnings report, Pan American Silver demonstrated strong metrics in virtually all areas. The company raked in $352.2 million during the three months period. The adjusted earnings were $74.2 million or $0.35 per share. The EPS was better than expected as Wall Street analysts had expected the company’s EPS to be $0.23.

Wheaton Precious Metals Corp. (WPM)

Wheaton Precious Metals Corp. doesn’t actually mine silver. However, it remains the largest manufacturer and dealer in the world. Instead of getting its hands dirty with the actual mining, Wheaton invests in silver mines and trades its silver reserves for enhanced profits. Shares are up by 42% so far this year, and it could see a further uptrend.

silver stocks

Wheaton Precious Metals is the largest silver dealer on the planet, but the firm doesn’t actually mine its own silver.

On November 14, Wheaton Precious Metals Corp reported strong quarterly earnings. The revenue for Q3 was $224 million following the sales of Gold, Silver, and Palladium. The revenue was up by 20% from the same quarter of 2018.

Fortuna Silver Mines Inc. (FSM)

Fortuna Silver Mines is another Canadian silver mining company that primarily operates in Latin America. The company’s stock has underperformed this year, but it could be an excellent silver stock to buy ahead of a rainy day.

The company also mines Gold, however over 50% of its sales came from Silver. While its metrics might not be as strong as the others, Fortuna Silver Mines could be an excellent silver stock to buy now.

More Silver Stocks to Buy Now

Silver stocks are not as glamorous as gold stocks. However, they offer a reliable hedge to volatile equity markets. Subscribe to the Dork and stay informed on all of the best silver stocks. You can also follow Stock Dork on Twitter and Facebook to track of all the latest stock market news. Furthermore, remember to sign up for mobile Dork Alerts to get all the hottest stock picks, insights, and analysis delivered to your phone.

Hassan Maishera is a cryptocurrency expert and a Stock Dork freelance contibutor.

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