Metals are still going strong with gold hovering over $700. Silver has managed to break $12.50 and the USD Index has managed to stay under $80. It will be interesting to see the COT report this week. I expect to see a decrease in commercial shorts again and an increase in commercial long positions. Prices of stocks in PM miners still remain relatively low. Here are my top 3 silver mining picks. You will notice that all three silver miners follow my recent theme of buying stocks with all cash and no debt positions. Hecla Mining Company (
HL: 7.59
-3.92%, vol: 1,700,700)
Market Cap: 950.26 Million
Trailing P/E: 17.79
Forward P/E: 20.79
Cash Position: 180.64M
Debt: 0
ROE: 23.73%
ROA: 6.16%
52-week range: $4.90-$9.89
On September 3rd, I wrote
this article about possible investments in IAMGOLD Corporation (
IAG: 7.57
-3.69%, vol: 1,124,800) and HL. My price target to buy HL was under $7. I now view HL as an attractive investment at the recent price range of $7.50-$7.80.
Pan American Silver Corporation (
PAAS: 24.99
-3.07%, vol: 1,410,723)
Market Cap: 1.97 Billion
Trailing P/E: 23.61
Forward P/E: 16.08
Cash Position: 143.73 Million
Debt: 0
ROE: 16.65%
ROA: 8.93%
52-week range: $17.50-$32.46
Silver Wheaton Corporation (
SLW: 12.08
-2.19%, vol: 2,209,300)
Market Cap: 2.77 Billion
Trailing P/E: 32.34
Forward P/E: 31.12
Cash Position: 40.33 Million
Debt: 0
ROE: 14.06%
ROA: 8.46%
52-week range: $7.95-$14.92
*Disclaimer: The author holds no positions in any of the stocks mentioned above.
Linear Mode
