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The Zacks Analyst Blog Highlights: Fresnillo, Alexco, First Majestic and Fortuna

Zacks Equity Research
·6-min read

For Immediate Release

Chicago, IL – July 29, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Fresnillo plc FNLPF, Alexco Resource Corp. AXU, First Majestic Silver Corp. AG and Fortuna Silver Mines Inc. FSM.

Here are highlights from Tuesday’s Analyst Blog:

4 Stocks to Watch as Silver Inches Toward All-Time Highs

Gold and silver have been witnessing a rally over the past few months as an increasing number of people are trying to take refuge in safe-haven assets amid rising cases of coronavirus, fears of prolonged global recession and the ongoing uncertainty surrounding U.S.-China relation.

While gold price hit an all-time high on Jul 27, silver too will hit a six-year high anytime now. Besides the uncertainty over the global economy’s strength, another factor that has been playing a major role in silver’s rally is extra-loose monetary policies across the globe.

Silver Glitters More Than Gold

People have been flocking to gold lately as they are finding the yellow metal the best place to park their money during this time of market uncertainty. However, silver has been doing equally well and is not far behind the rally being enjoyed by the yellow metal. While gold hit an all-time high of $1,945 per ounce on Jul 27, silver managed to settle above the resistance at $23.25 and rallied toward $24.60.

The uncertainty over trade and the coronavirus crisis has made investors park their money in silver, which is considered an alternative investment to risky assets.

Multiple Factors Aiding Silver Price

A weaker U.S. dollar index following massive liquidity injections by the Fed along with exceptionally low interest rates globally, technical buying, and increasing consumer demand from China and India have been fueling the bull run of silver.

Hopes of another round of economic stimulus from central banks and worsening U.S.-China tensions should continue to drive further growth in the white metal. Silver is also considered as an industrial metal, with 50% of the metal’s total demand coming from industrial applications. Hence, the gradual reopening of global economies and a pickup in manufacturing activity will act as a tailwind to silver.

Moreover, growing demand in areas like 5G, solar panels and other electronic applications, shifting focus toward green energy, and growth in computer shipment and demand for sensors used in IoT and OLED lighting will continue to help silver in the long term.

Stocks to Watch

Given this scenario, it would be prudent to invest in silver stocks that have great potential and are poised to perform in the coming days.

Fresnillo plc is a silver and gold mining and exploration company. It also produces lead and zinc concentrates, silver precipitates, gold and silver dore bars, and leases mining equipment. 

The company’s expected earnings growth rate for the current year is 65.2%. The Zacks Consensus Estimate for current-year earnings has improved 81% over the past 60 days. Fresnillo Carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Alexco Resource Corp.is a precious metals’ exploration company with a silver focus and growing environmental services business. The company conducts mineral exploration in Canada, primarily in Yukon, and performs reclamation and remediation services at mine sites using its rights to certain patents and the expertise acquired by its officers

The company’s expected earnings growth rate for next year is more than 100%. Its shares have gained 41.2% over the past 30 days. Alexco Resourcehas a Zacks Rank #1.

First Majestic Silver Corp.is engaged in the production, development, exploration and acquisition of silver mines in Mexico. 

The company’s expected earnings growth rate for the current year is more than 100%. Its shares have gained 49.5% over the past 30 days. Alexco Resourcehas a Zacks Rank #3 (Hold).

Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag - Au Project located in Oaxaca, Mexico. 

The company’s expected earnings growth rate for the current year is more than 100%. Its shares have gained 49.1% over the past 30 days. Fortuna Silver Minescarries a Zacks Rank #3.

These Stocks Are Poised to Soar Past the Pandemic

The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.

Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.

See the 5 high-tech stocks now>>

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.


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Fortuna Silver Mines Inc. (FSM) : Free Stock Analysis Report
 
Alexco Resource Corp (AXU) : Free Stock Analysis Report
 
First Majestic Silver Corp. (AG) : Free Stock Analysis Report
 
Fresnillo PLC (FNLPF) : Free Stock Analysis Report
 
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