Silver and gold stocks are hot right now. This is especially true since the global unrest took a new phase following recent comments by US President Trump this month. The China/U.S. trade deal is still likely far away and that brings more uncertainty across world markets. Needless to say, gold has begun to shine much brighter as a safe haven (no pun intended) and investors are paying attention to silver and gold stocks to buy.
Additionally, the figures related to retail sales have also beaten most estimates. These factors have now created optimism about the price of gold and silver. Hence, there has also been some positive action in certain silver and gold penny stocks. Here is a look at four of those, which have seen more attention recently.
Gold Penny Stock To Watch: RosCan Gold Corporation (ROS.V)
RosCan Gold (ROS.V Stock Report) has hit the screens of investors as a “new kid on the block” in gold stocks to watch. The specific locale of its operations has become a bigger attraction of this gold penny stock. That locale is West Africa. Why this region? West Africa’s mining development pipeline is strong and that’s according to Mining Intelligence. About 33% of all assets are in the production or construction stages.
Aside from 45% of all projects undergoing economic assessment studies, 74% of all exploration projects are focused on gold. That could mean big things for gold companies within this region and gold stocks to buy are beginning to build a bigger name for July.
Silver Penny Stock To Watch: Fortuna Silver Mines (FSM)
The next mining stock to watch is Fortuna Silver Mines Inc. (FSM Stock Report). This silver stock rose by as much as 14% on Tuesday after it easily surpassed its projections for silver production. During the first half of the year, the company produced 4.6 million ounces of silver. But it may be more impressive because that figure is 5% more than what the company had projected.
For the full year, the company has projected production in the range of 8.2 million ounces and 9 million ounces. Additionally, Fortuna also expects to produce 49,000 to 54,000 ounces of gold. The optimism about FSM stock is understandable based on this outlook.
Silver Penny Stock Gainers #2:
Americas Silver Corporation (USAS)
Americas Silver Corporation (USAS Stock Report) is another silver penny stock that recorded gains after the rise in the price of silver. But it should be pointed out that the USAS stock has risen by as much as 50% since the beginning of June. Tuesday the silver stock saw a 3% gain.
Back in May, the company announced its Q1, 2019 earnings. Among the highlights, Americas generated revenues of $17.80 million, which fell short of analysts’ estimates. Despite this, shares of USAS stock are up once again on Wednesday, hitting fresh 2019 highs.
Silver Penny Stock Gainers #3:
Endeavour Silver Corp (EXK)
Last but not least, Endeavour Silver Corp. (EXK Stock Report) was the other mining stock that experienced significant gains. This came after it announced that it had been awarded exploration rights at two sites in Durango State in Mexico. The stock rose by as much as 10% following the announcement. It’s believed that if the price of silver continues to rise, then EXK stock could be one to keep an eye on.
All four stocks mentioned here have been strong in recent days. With the rising price of gold and silver, they could prove to be interesting penny stocks to watch. However, it should be noted that the price of metals, silver, and gold can move in a different direction owing to global factors. So make sure that if you’re looking for silver or gold stocks, you follow the global economic trends closely.