Penoles Poised for Payback From Gold and Silver Rally
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After two punishing years for Industrias Penoles SAB investors, the stock is poised for a rebound as the world’s biggest silver miner is having the best start in eight years from surging metal prices.
Penoles, the operator of seven silver, zinc and lead mines in Mexico, has returned 4.9 percent this year through Wednesday, the stock’s best start to a year since 2007. The eighth-best performer on Mexico’s benchmark IPC index this year, Penoles was the worst performer on the index the prior two years when it tumbled 56 percent.