Mots clés associés :
Zinc |
| How Silver Prices Are Influencing Major Silver Miners | |
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How the 2015 Fall in Metals Has Impacted Miners Differently (Continued from Prior Part) Silver miners
Many of the metal miners that have their core mining assets in silver have seen their prices fall in the past two years. The decline is most likely due to the drastically falling price of silver, which has retreated a whopping 12% in 2015. The current close of $14 for silver is about 30% lower than its $20 price at the beginning of 2014.
Mining companies like First Majestic Silver (AG), Silver Wheaton (SLW), Pan American Silver (PASS), Coeur Mining (CDE), and Hecla Mining (HL) are primarily into silver exploration, but they also mine a few other metals like zinc and lead. However, a significant portion of their revenue comes from silver.
Correlation coefficient
As the above graph visibly shows, silver miners have clearly followed a similar path to silver in the past two years, though some are more sensitive to silver prices than others. We will examine the correlation coefficient of these mining stocks with silver to give us an idea of their relative price performance.
AG, SLW, PAAS, CDE, and HL have a correlation coefficient with silver of 0.97, 0.88, 0.96, 0.92, and 0.77, respectively. Thus, First Majestic Silver (AG) is the most responsive to the price changes in silver. A 0.97 correlation suggests that about 97% of the time AG would move in the same direction as silver. The least correlated with silver is Hecla Mining at 0.77.
100-day moving average
Among the five silver miners, CDE and HL are all currently trading at a 13.3% and 5.7% discount, respectively, from the 100-day moving average price. The possibility of reversion exists when the trading prices hold below the 100-day moving averages. The five stocks mentioned above together make up 9.1% of the Market Vectors Gold Miners ETF (GDX).
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Silver Wheaton
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PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Silver Wheaton est une société basée au Canada. Silver Wheaton est productrice d'argent, de cuivre, d'or, de plomb, de silica et de zinc au Canada, au Mexique, au Perou, au Portugal, en Grece et en Suede, en développement de projets d'argent, de cuivre, d'or et de zinc au Canada et au Chili, et détient divers projets d'exploration au Portugal et en Argentine. Ses principaux projets en production sont ZINKGRUVAN en Suede, KENO HILL (BELLEKENO) et MINTO MINE au Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN et G-9 CAMPO MORADO au Mexique, YAULIYACU au Perou, STRATONI en Grece et NEVES-CORVO au Portugal, ses principaux projets en développement sont PASCUA LAMA au Chili et KUTCHO CREEK au Canada et ses principaux projets en exploration sont PROMOTORIO DURANGO et MONTOROS au Mexique, ALJUSTREL au Portugal et LOMA DE LA PLATA (NAVIDAD) en Argentine. Silver Wheaton est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 12,6 milliards CA$ (9,2 milliards US$, 8,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 09 mars 2007 à 10,01 CA$, et son plus haut niveau récent le 15 mai 2017 à 28,53 CA$. Silver Wheaton possède 441 520 000 actions en circulation. |