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:
Coeur Mining Inc. (NYSE: CDE)(TSX: CDM) shares traded in the range of $9.83 to $10.31 Wednesday before settling to close at $9.83, a decrease of 3.06 percent. The stock appears to be facing some resistance at the $10.33, $10.96 and $11.46 levels. Shares of Coeur Mining have fallen approximately 10.0 percent year-to-date.
More information on Coeur Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CDE
Endeavour Silver Corp. (NYSE: EXK) shares traded in the range of $4.46 to $4.61 Wednesday before settling to close at $4.47, an increase of 1.13 percent. The stock appears to be facing some resistance at the $4.66 and $4.76 levels with some support at $4.44 and $4.32. Shares of Endeavour Silver have gained approximately 23.0 percent year-to-date
More information on Endeavour Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EXK
Hecla Mining Company (NYSE: HL) shares traded in the range of $3.07 to $3.16 Wednesday before settling to close at $3.09, a decrease of 0.64 percent. The stock appears to be facing some resistance at the $3.12 and $3.32 levels with some support at $2.99 and $2.81. Shares of Hecla Mining have gained approximately 1.0 percent year-to-date.
More information on Hecla Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HL
Silvercorp Metals Inc. (NYSE: SVM)(TSX: SVM) shares traded in the range of $2.51 to $2.62 Wednesday before settling to close at $2.52, flat for the day. The stock appears to be facing some resistance at the $2.52 and $2.73 levels with some support at $2.30 and $2.20. Shares of Silvercorp Metals have gained approximately 10.0 percent year-to-date
More information on Silvercorp Metals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SVM
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