FSM - Why Silver Miners Like Coeur Mining Endeavour Silver and Fortuna Silver Mines Took Off Today
Shares of silver-heavy precious-metals miner Coeur Mining (NYSE: CDE) jumped 9% at the open on July 27. Although that was an impressive gain, it wasn't as good as the initial bump at Fortuna Silver Mines (NYSE: FSM), which rose 10%. And those gains weren't as impressive as the nearly 14% gain at Endeavour Silver (NYSE: EXK). That said, by 11 a.m. or so EDT, all three had given back some of their early advances, but were still holding on to material gains running between roughly 8% and 11%.
The big story here is pretty straightforward: precious metals were showing material gains. Silver, as has been the case in recent months, was the better performer. The companies that mine for the metal went along for the ride. Nothing surprising. That said, there are two interesting things going on that investors need to take into consideration.
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