Silvercorp Metals (SVM) Shares Rise 6.90% as Silver Prices Surpass $95
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Silver Price Surge: Amid rising political uncertainty, silver prices have climbed above $95 in pre-market trading on Tuesday, leading to a 6.90% increase in Silvercorp Metals' stock, indicating strong market demand for precious metals.
- Sector Performance: Other mining companies such as Hecla Mining, First Majestic Silver, and Endeavour Silver saw their shares rise by 6.56%, 5.5%, and 4.5% respectively, reflecting the overall benefit to the silver mining sector from rising silver prices and boosting investor confidence.
- Demand Drivers: Silver prices have surged over 200% in the past year, primarily driven by demand from AI and solar technology, highlighting silver's strategic importance in emerging technologies and reinforcing its market position.
- Economic Warning: Economist Peter Schiff warns that the economy is nearing a dollar crisis, suggesting that the recent surge in precious metals may signal deeper financial troubles ahead, urging investors to remain vigilant.
Analyst Views on AG
Wall Street analysts forecast AG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AG is 15.06 USD with a low forecast of 12.50 USD and a high forecast of 17.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
1 Buy
3 Hold
0 Sell
Hold
Current: 24.220
Low
12.50
Averages
15.06
High
17.50
Current: 24.220
Low
12.50
Averages
15.06
High
17.50
About AG
First Majestic Silver Corp. is a mining company. The Company is focused on silver and gold production in Mexico and the United States. It owns and operates approximately 350,000 hectares of land package, which include the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine, and a 70% joint venture interest in the Cerro Los Gatos Silver Mine as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, United States. The San Dimas Silver/Gold Mine is located over 130 kilometers (km) northwest of the city of Durango, Durango State, Mexico. The Santa Elena Silver/Gold Mine is located over 150 km northeast of the city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon. The Cerro Los Gatos Mine is located around 120 kms south of Chihuahua City, Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
