Since the start of the new year, the price of silver ran from ran from about $22 to a high of $27.50.
While it has since pulled back, don’t write off the metal just yet.
Analysts at BMO Capital, as noted by Kitco.com, just revised 21 out of 26 commodities it covers. In the precious metals space, the firm revised their 2022 gold price by 8% and silver by 12%. “The storm of supply disruptions, logistic issues, sanctions, financial short squeezes and purchasing manager panic has seen some of the most dramatic metals and bulk commodity price moves seen in history over Q1 2022,” noted the BMO analysts.
That’s all positive news for companies such as Reyna Silver Corp. (TSXV: RSLV) (OTCQX: RSNVF), Hecla Mining Company (NYSE: HL), SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM), Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS), and First Majestic Silver Corp. (NYSE: AG) (TSX:FR).