Precious metal prices spiked Wednesday as disappointing employment numbers raised speculation that the Federal Reserve would continue on with stimulus measures. The iShares Silver Trust ETF (NYSEARCA: SLV) gained 1.71 percent to close at 19.07. On Wednesday, Automatic Data Processing Inc. and Moody's Analytics reported U.S. businesses added 175,000 jobs in January, which was below economists’ forecasts of 189,000 jobs according to Dow Jones Newswires. The Bureau of Labor Statistics' employment situation report is scheduled to be released Friday. Here is how some silver stocks reacted Wednesday:
First Majestic Silver Corp. (NYSE: AG) shares traded in the range of $10.25 to $10.66 Wednesday before settling to close at $10.26, a decrease of 2.01 percent. The stock appears to be facing some resistance at the $10.29 and $11.01 levels with some support at $9.03. Shares of First Majestic Silver have gained approximately 5.0 percent year-to-date.
More information on First Majestic Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AG
Pan American Silver Corp. (NASDAQ: PAAS)(TSX: PAA) shares traded in the range of $12.57 to $12.95 Wednesday before settling to close at $12.63, a decrease of 0.55 percent. The stock appears to be facing some resistance at the $13.25 and $13.83 levels with some support at $12.55 and $12.14. Shares of Pan American Silver have gained approximately 8.0 percent year-to-date
More information on Pan American Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PAAS
Silver Wheaton Corp. (NYSE: SLW)(TSX: SLW) shares traded in the range of $21.63 to $22.06 Wednesday before settling to close at $21.74, a decrease of 0.14 percent. The stock appears to be facing some resistance at the $22.49 and $22.99 levels with some support at $21.37 and $20.37. Shares of Silver Wheaton have gained approximately 8.0 percent year-to-date.
More information on Silver Wheaton and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SLW
Silver Standard Resources Inc. (NASDAQ: SSRI)(TSX: SSO) shares traded in the range of $7.76 to $8.20 Wednesday before settling to close at $8.03, an increase of 6.22 percent. The stock appears to be facing some resistance at the $8.47 and $9.88 levels with some support at $7.73 and $7.40. Shares of Silver Standard Resources have gained approximately 15.0 percent year-to-date.
More information on Silver Standard Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SSRI
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: editor@wallstreetfundamentals.com