Silver prices rallied Wednesday despite upbeat economic data. Silver for March delivery gained roughly 4.0 percent, its largest spike since September 19th, to close at $19.830 a troy ounce on the Comex division of the New York Mercantile Exchange. Additionally, the iShares Silver Trust ETF (NYSEARCA: SLV) posted a gained of 3.15 percent Wednesday. Over the past few months, any economic data supporting a stronger U.S. economy would have pressured prices for gold and silver lower. "What we are seeing today may prove to be the early stage of another substantial short-covering rally into year-end," said Peter Grant, USAGold Chief Market Analyst.
Coeur Mining Inc. (NYSE: CDE) shares traded in the range of $10.37 to $10.84 Wednesday before settling to close at $10.80, an increase of 3.75 percent. The stock appears to be facing some resistance at the $11.06 and $11.58 levels with some support at $10.79. Shares of Coeur Mining have fallen approximately 56.0 percent in 2013.
More information on Coeur Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CDE
Hecla Mining Company (NYSE: HL) shares traded in the range of $2.74 to $2.86 Wednesday before settling to close at $2.83, an increase of 4.04 percent. The stock appears to be facing some resistance at the $2.85 and $2.93 levels with some support at $2.67. Shares of Hecla Mining have fallen approximately 50.0 percent in 2013.
More information on Hecla Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HL
Pan American Silver Corp. (NASDAQ: PAAS)(TSX: PAA) shares traded in the range of $10.10 to $10.59 Wednesday before settling to close at $10.54, an increase of 4.56 percent. The stock appears to be facing some resistance at the $10.76 and $11.13 levels with some support at $10.40. Shares of Pan American Silver have fallen approximately 43.0 percent in 2013.
More information on Pan American Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PAAS
Silvercorp Metals Inc. (NYSE: SVM) shares traded in the range of $2.39 to $2.50 Wednesday before settling to close at $2.42 a share. The stock appears to be facing some resistance at the $2.49 and $2.70 levels with some support at $2.37. Shares of Silvercorp Metals have fallen approximately 52.0 percent in 2013.
More information on Silvercorp Metals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SVM
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