As silver prices continue to rally higher, investors are turning their attention to the top silver producers in order to gain exposure to what could be an explosive move to the upside. Below is a list of the top silver producers based on their percentage of revenue from silver production:
1) HECLA MINING (NYSE: HL)
Founded in 1891, Hecla Mining is the oldest precious metals mining company listed on the New York Stock Exchange. The company is responsible for 1/3 of all silver produced in the United States and holds the largest silver reserve and resource in the country. In Q2 2020 Hecla produced 3.4 million ounces of silver and 59,982 ounces of gold while recognizing 24% higher revenue over the prior year period. The company has operating mines throughout the United States including Alaska, Idaho and Nevada as well as mines in Mexico and Canada.
2) SILVERCORP METALS (TSX: SVM)
Silvercorp Metals operates two producing mines in China. The company has a market cap of approximately C$1.04 billion and silver production represents roughly 54% of its revenue. Silvercorp is a good opportunity to gain access to the silver market, however it operates in the politically risky jurisdiction of China.
3) ENDEAVOUR SILVER (TSX: EDR)
Endeavour Silver operates three silver mines in Mexico. The company has a market cap of around C$381 million and generates roughly 47% of its revenue from silver. This makes Endeavour Silver a solid opportunity to leverage rising silver prices, however its actual silver output was less than 4.1 million ounces in full year 2019.
4) PAN AMERICAN SILVER (TSX: PAAS) (NASDAQ: PAAS)
Pan American Silver has nine mining operations across North and South America. The company currently has a market cap of approximately C$8.5 billion, but its silver production accounts for less than 30% of overall revenue.
5) COEUR MINING (NYSE: CDE)
Coeur Mining operates five mines throughout North America. The company has a market cap of approximately US$1.4 billion, however silver production represents less than 26% of its overall revenue.
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