Small-Cap Silver Miners Up 9% Compared To Their Lows On Record – (HL, CDE, SVM, EXK, SSRI)
Companies in the Silver industry have been facing challenges for much of the year as both pricing and demand levels fluctuated, making it difficult to boost revenues. Hecla Mining Company (NYSE:HL) shows this trend. The company has currently faced revenue declines for three straight quarters. Moreover, increased production costs and higher expenses have also been weighing on miners. Silvercorp Metals Inc. (NYSE:SVM) mentioned these reasons in its latest earnings release as contributors to the drop witnessed in adjusted profit.
On an upbeat note, industry wide production levels are hopeful and could put a number of silver miners in a position to rebound when demand and pricing levels improve. Looking ahead, the short-term forecast for industry players continues to be challenging, barring a sudden spike in demand or drastic improvement from the industrial sector.
Hecla Mining Company (NYSE:HL) together with its subsidiaries, discovers, acquires, develops, produces, and markets precious and base metals worldwide. Hecla Mining Company shares are trading 25.54% above their 52 week low price after the last close and 42.31% below the 52 week high. Its latest closing price was down -6.16% from the average-price of 200 days while it kept its distance from the SMA50 at +1.33% and +2.91% compared with the SMA 20.
Shares of Coeur d’Alene Mines Corporation (NYSE:CDE) were 30.69% off 52 week lows as of the latest close and 36.11% below the 52 week high. Its latest closing price was down -13.74% from the average-price of 200 days while it maintained a distance from the SMA 50 at -14.16% and -18.80% compared with the SMA 20. CDE together with its subsidiaries, engages in the ownership, operation, exploration, and development of silver and gold mining properties primarily located in the United States, Mexico, Bolivia, Argentina, and Australia.
Silvercorp Metals Inc. (USA) (NYSE:SVM) together with its subsidiaries, engages in the acquisition, exploration, development and mining of precious and base metal properties in China and Canada. The stock’s latest price traded at 12.10% off 52 week lows after the closing bell yesterday and was 45.17% behind its 52 week high. Its latest closing price was -18.45% below the SMA200 while the distance from the SMA 50 and SMA 20 was -2.95% and -4.93% respectively.
Endeavour Silver Corp. (CAN) (NYSE:EXK) is trading 9.24% higher than the 52 week low price and 39.54% below the 52 week high. The stock’s latest closing price was -17.58% down from the average-price of 200 days while it kept its distance from the SMA50 at -6.59% and -0.30% compared with the SMA 20. EXK, a mid-cap silver mining company, focuses on the growth of its silver production, reserves, and resources in Mexico and Chile.
Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) engages in the acquisition, exploration, development, and operation of silver-dominant resource properties. Silver Standard Resources Inc so far this year has moved down -8.10% and its monthly performance stands at -3.50%. The stock was up 26.24% from its 52 week low and was 60.00% below the 52 week high. Its latest closing price was down -10.34% from the average-price of 200 days while it kept its distance from the SMA50 at +4.79% and +2.28% compared with the SMA 20.
Disclosure: The views and opinions expressed in this article are exclusively those of the authors who have no stake in any stocks mentioned, and hold no plan to acquire any stake within the next 5 days.
