Mining stocks fail to keep pace with skyrocketing silver prices
NEW YORK, NY, Sep 19, 2011 (MARKETWIRE via COMTEX) — With the price of Silver near 30 year highs, analysts and investors are beginning to question the underperformance of Silver mining and streaming stocks. Between January and August, the iShares Silver Trust ETF has close to doubled, while the XAU Index of precious metal mining stocks has fallen a surprising 4 percent. The Bedford Report examines the outlook for companies in the Silver Industry and provides equity research on Coeur d’Alene Mines CorporationCDE -1.87% CA:CDM -0.90% and Endeavour Silver Corporation EXK -0.65% CA:EDR -0.25% . Access to the full company reports can be found at:
Unlike gold, silver is a significant industrial metal. More than half of the demand for silver is industrial, as the metal can be used for batteries, brazing and soldering, bearings, high-end electronics and is also used in cutting edge solar technology. A study conducted earlier this year by the Silver Institute argues that “the rise in solar power is arguably the most significant development for silver demand in recent years. This year, demand is expected to reach nearly 70 million ounces, an increase of around 40 percent year-on-year.”
The Bedford Report releases stock research on the Silver Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
In the second quarter Coeur d’Alene reported net metal sales of $231.1 million represents 16% increase over prior quarter and is 129% higher than last year’s second quarter. The company is boosting its second half exploration expenditures by 67% to approximately $14.0 million to accelerate drilling activities at Palmarejo, Rochester and Joaquin due to ongoing positive results.
Endeavour Silver Corp., a mid-cap silver mining company, focuses on the growth of its silver production, reserves, and resources in Mexico and Chile. Silver production was up 3 percent year-on-year in the most recent quarter.
The Bedford Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer
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