The highest prevailing silver prices in the better part of a decade fueled big growth in profits, sales, and operating cash flows. And with silver remaining high despite being in a healthy correction, silver miners’ super-bullish trend of fast-improving fundamentals is likely to continue. That portends much-higher silver-stock prices as their metal’s next bull-market upleg gets underway. This silver-stock bull has lots of room to run.
James McDonald, President and CEO, states “We are very pleased the first ever drill program conducted on Copalito has shown excellent grade potential and continuity of vein structures. This indicates the potential for discovery and delineation of high-grade resources is good.”
The metals remain in a trading range as do the mining stocks likely due to the both the upcoming election and the announcement of the next stimulus bill, which is coming closer to both parties agreeing on. I don’t think we will get one before the Nov 3rd.
This was another week full of production results from gold and silver producers. This is far and away the most companies I’ve ever seen reporting quarterly production numbers instead of waiting until earnings. Again, this is likely because investors who know production numbers ahead of earnings could lead to buying earlier, pushing up stock prices.
Endeavour Silver (NYSE: EXK; TSX: EDR) is a mid-tier, primary silver producer that operates three underground, silver-gold mines in Mexico. It is nearing a turnaround with significant production growth ahead.
All bull markets naturally flow then ebb, taking two steps forward before retreating one step back. Their price action gradually meanders around uptrends. This normal upleg-correction pattern keeps sentiment balanced, extending bull markets’ longevity. And it is a huge boon for traders, greatly expanding bulls’ potential gains. Look to aggressively buy silver and its miners’ stocks as this silver correction runs its course.