Hecla Mining and Silver Wheaton Well Prepared for Swings in Silver Prices
The Bedford Report Provides Equity Research on Silver Wheaton & Hecla Mining
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/15/11 -- Silver stocks have been exceptionally volatile of late as concerns surrounding the global economy led analysts to question industrial demand for the metal. While silver is considered a safe haven asset, half of the metals demand comes from industrial consumption which could drop off in the event of a long-term economic slowdown. The Bedford Report examines the outlook for companies in the Silver Industry and provides equity research on Silver Wheaton Corporation (NYSE: SLW) (TSX: SLW) and Hecla Mining Co. (NYSE: HL). Access to the full company reports can be found at:
Disappointing reports on jobless claims and factory orders have created doubt about industrial demand for silver, which is used for batteries, brazing and soldering, bearings and high-end electronics. The Commerce Department said factory orders fell 0.8 percent in June, indicating lower demand for factory goods for the second time in three months.
In China, roughly 70 percent of the country's silver demand comes from the industrial sectors. Chinese customs data for June showed that net silver imports had fallen for the third consecutive month, with June levels of 175 mt down 46 percent from a year ago.
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Despite near term headwinds, silver companies such as Hecla Mining and Silver Wheaton remain confident in the silver market. Randy Smallwood, CEO of Silver Wheaton, said earlier this summer that silver prices could reach $50 in the next two to three years. In the most recent quarter Silver Wheaton's revenue more than doubled compared with Q2 2010, to a record US$194.8 million, on silver equivalent sales of 5.1 million ounces.
Hecla Mines has a reputation of being one of the most cost effective silver miners, allowing it to better navigate swings in silver prices. In 2010, Hecla was the lowest-cost primary silver producer in the US, producing 10.6 million ounces of silver at an average total cash cost per ounce of negative $1.46.
The Bedford Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 15.08.2011 - 06:16 Uhr
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