EXK - Why Endeavour Silver Jumped Another 12% at the Open on July 22
Shares of precious metals miner Endeavour Silver (NYSE: EXK) rose a little more than 12% at the open of trading on July 22. At this point the stock has more than doubled over the last month, with a particularly steep ascent over the last week or so. The stock is up around 40% over the last five days alone. What's going on?
The truth is that nothing in particular has dramatically changed at Endeavour Silver itself. What has changed is investors' opinions on precious metals, with silver being the biggest beneficiary. To put some numbers on that, SPDR Gold Shares, an exchange-traded fund (ETF) that owns physical gold, is up around 6.5% over the past month. Meanwhile, iShares Silver Trust, which owns physical silver, has advanced 26% over the same span. And much of that outsized gain has come over the past week or so, with iShares Silver Trust up more than 14% over the last five days. Silver was up sharply again today, as well.
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