2 Strong Buy Silver Stocks Under $20

of silver market It’s a patient study for investors, and its performance has lagged that of gold, which has soared recently. New record high Over $2,000 per ounce. In 2023, gold futures will be (GCJ24) Most active silver futures up 13.45% (SIK24) With an increase of just 0.19%, the price volatility for these two metals continues this year.

From the beginning of 2023, iShares Silver Trust will (SLV) SPDR Gold stock had a net gain of just 1.4%. (GLD) This is an increase of nearly 18% over the same period.

But a glimmer of hope may be closer than it seems. Against the backdrop of record prices for gold and rising demand for silver for industrial uses, silver’s current narrow trading range could portend a significant breakout. If silver is able to break above looming technical resistance around $26 an ounce, it could spark an investment rush and propel both the metal and related mining stocks to new heights.

With this in mind, two silver mining stocks have emerged as interesting prospects, with both companies receiving “strong buy” ratings from analysts and trading below $20 per share. is poised to benefit from a potential rise inFor investors who think that Silver is undervalued at current levelsthese two mining stocks are worth a look.

1. MAG Silver Stock

MAG Silver Corporation (mug) is a silver-focused mining company primarily engaged in the exploration and development of high-grade projects. Its superior capabilities are not limited to extraction. We are also actively exploring other potential locations, including the Deer Trail CRD project in Utah.

Looking at MAG’s stock performance, the stock has declined 18% over the past 52 weeks. However, MAG is up nearly 13% from its 52-week low on March 1st.

In fundamental terms, MAG Silver moves from development to production; Juanicipio project achieves nameplate capacity The facility processed 1.27 million tonnes of mineralized material in 2023, increasing sequentially from the third quarter to the fourth quarter.Joint venture with Fresniro (FNLPF) Also produced during the year were 16.8 million ounces of silver and 36,732 ounces of gold.

mug silver will Report fourth quarter earnings On March 25th, the consensus was Earnings of $0.13 per share. This follows MAG’s third-quarter earnings report that missed his EPS estimates, even though sales rose 151.5% year-over-year to his $125.05 million.

Analyst sentiment on MAG Silver is overwhelmingly positive, with a consensus rating of Strong Buy. Of the 12 analysts, 7 recommend a “strong buy,” 3 recommend a “moderate buy,” and 2 maintain a “hold.” The average price target is set at $15.36, which represents a significant upside of approximately 70.5% from current levels.

2. Pan American Silver Stock

pan american silver company (PAAS) is a mining company with a significant presence in the silver industry, known for its operational efficiency and sustainable mining practices. The company operates mines in various countries including Peru, Mexico, Argentina, Bolivia, and most recently Acquisition of Yamana Gold.

PAAS stock is down 12.5% ​​over the past 52 weeks, but has rebounded 13.9% since hitting a 52-week low in February.

Pan American Silver’s latest financial results, released on February 22, were mixed. Loss of $0.04 per share The expected profit was less than $0.08.However, revenue for the quarter was $669.6 million, topping the Street. Looking ahead, analysts expect full-year earnings for fiscal 2024 to be $0.24 per share and revenue to increase 10.1% to $2.55 billion.

The company also maintains its commitment to returning value to shareholders through regular dividend payments, increasing its dividend for the past four years. PAAS pays a quarterly dividend of $0.10 per share and at current levels its yield is 2.89%.

Analysts are optimistic about PAAS, with a consensus rating of Strong Buy. Nine analysts have provided recommendations, with seven recommending a “strong buy,” one recommending a “moderate buy,” and one recommending a “hold.” The average price target of $20.19 suggests an upside potential of nearly 46% from current levels.

On the date of publication, Evebu Jones I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words
of silver market It’s a patient study for investors, and its performance has lagged that of gold, which has soared recently. New record high Over $2,000 per ounce. In 2023, gold futures will be (GCJ24) Most active silver futures up 13.45% (SIK24) With an increase of just 0.19%, the price volatility for these two metals continues this year.From the beginning of 2023, iShares Silver Trust will (SLV) SPDR Gold stock had a net gain of just 1.4%. (GLD) This is an increase of nearly 18% over the same period.

www.barchart.com
But a glimmer of hope may be closer than it seems. Against the backdrop of record prices for gold and rising demand for silver for industrial uses, silver’s current narrow trading range could portend a significant breakout. If silver is able to break above looming technical resistance around $26 an ounce, it could spark an investment rush and propel both the metal and related mining stocks to new heights. With this in mind, two silver mining stocks have emerged as interesting prospects, with both companies receiving “strong buy” ratings from analysts and trading below $20 per share. is poised to benefit from a potential rise inFor investors who think that Silver is undervalued at current levelsthese two mining stocks are worth a look.1. MAG Silver StockMAG Silver Corporation (mug) is a silver-focused mining company primarily engaged in the exploration and development of high-grade projects. Its superior capabilities are not limited to extraction. We are also actively exploring other potential locations, including the Deer Trail CRD project in Utah. Looking at MAG’s stock performance, the stock has declined 18% over the past 52 weeks. However, MAG is up nearly 13% from its 52-week low on March 1st.www.barchart.com
In fundamental terms, MAG Silver moves from development to production; Juanicipio project achieves nameplate capacity The facility processed 1.27 million tonnes of mineralized material in 2023, increasing sequentially from the third quarter to the fourth quarter.Joint venture with Fresniro (FNLPF) Also produced during the year were 16.8 million ounces of silver and 36,732 ounces of gold.

mug silver will Report fourth quarter earnings On March 25th, the consensus was Earnings of $0.13 per share. This follows MAG’s third-quarter earnings report that missed his EPS estimates, even though sales rose 151.5% year-over-year to his $125.05 million.Analyst sentiment on MAG Silver is overwhelmingly positive, with a consensus rating of Strong Buy. Of the 12 analysts, 7 recommend a “strong buy,” 3 recommend a “moderate buy,” and 2 maintain a “hold.” The average price target is set at $15.36, which represents a significant upside of approximately 70.5% from current levels. www.barchart.com
2. Pan American Silver Stockpan american silver company (PAAS) is a mining company with a significant presence in the silver industry, known for its operational efficiency and sustainable mining practices. The company operates mines in various countries including Peru, Mexico, Argentina, Bolivia, and most recently Acquisition of Yamana Gold. PAAS stock is down 12.5% ​​over the past 52 weeks, but has rebounded 13.9% since hitting a 52-week low in February.www.barchart.com
Pan American Silver’s latest financial results, released on February 22, were mixed. Loss of $0.04 per share The expected profit was less than $0.08.However, revenue for the quarter was $669.6 million, topping the Street. Looking ahead, analysts expect full-year earnings for fiscal 2024 to be $0.24 per share and revenue to increase 10.1% to $2.55 billion.

The company also maintains its commitment to returning value to shareholders through regular dividend payments, increasing its dividend for the past four years. PAAS pays a quarterly dividend of $0.10 per share and at current levels its yield is 2.89%. Analysts are optimistic about PAAS, with a consensus rating of Strong Buy. Nine analysts have provided recommendations, with seven recommending a “strong buy,” one recommending a “moderate buy,” and one recommending a “hold.” The average price target of $20.19 suggests an upside potential of nearly 46% from current levels.
www.barchart.com
On the date of publication, Evebu Jones I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/2-strong-buy-silver-stocks-under-$20 2 Strong Buy Silver Stocks Under $20