In the last month, SVM stock has increased by 23.75% on the NYSE American to $4.95 after experiencing a low of $2.03 in March. The latest offer, which came from an unnamed mining company, represents a premium of about 35% to the implied value of the Silvercorp arrangement agreement, but otherwise is fairly similar. (TSX:GUY) and its Aurora underground project in Guyana however, several other companies are eyeing GUY, and the bidding war has begun to heat up. Silvercorp has also signed an agreement to acquire Guyana Goldfields Inc. In fiscal 2020, the company saw a net income of $34.3 million, or $0.20 per share, and cash flow from operations of $77.2 million. Not only did the company achieve its full-year production target, but it has also surpassed its fiscal 2020 guidance. While some miners have been forced to temporarily suspend operations due to the global pandemic, Silvercorp Metals has managed to ramp up its efforts. (TSX:SVM) (NYSEAMERICAN:SVM)Īt the top of the list of hot silver penny stocks to buy is Silvercorp Metals, a Canadian mining company that produces silver, lead, and zinc in concentrates from mines in China. 3 Hot Silver Penny Stocks to Buy: Silvercorp Metals Inc. Investors who want to get in on silver should consider these three hot silver penny stocks to add some sparkle to their portfolios. The gold-silver ratio has since retreated back to 95:1, but this is still significantly higher than usual and could signal big things for the silver price in the months to come.
In fact, the gold-silver price ratio hit an all-time high of 127:1 in March. Silver has been trading at a steep discount compared to gold for quite some time. “Silvers 2019 gains, despite weak fundamentals, confirms that it is still a precious metal, and can play a role as a currency hedge or quality asset, as well as provide relatively cheap optionality on further gold upside.”
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