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3 Silver Penny Stocks to Consider Adding to Your Portfolio Right Now

Silver prices continue to push the $18 mark and could head higher still, shining the spotlight on silver penny stocks with major upside potential. Although…

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Silver prices continue to push the $18 mark and could head higher still, shining the spotlight on silver penny stocks with major upside potential.

Although silver failed to settle above $18.50 this week, the white metal is finding support at $17.50 and is expected to remain elevated in the coming months. According to CIBC analysts, silver will average around $18 an ounce this year and $19 in 2021, while Degussa Goldhandel is suggesting silver price could go as high as $22 in 2020.

Investor interest in silver is already heating up. Last year, investor demand climbed 12% to 186.1 million ounces, its highest jump since 2015, and silver exchange-traded funds (ETFs) boosted their holdings by 13% to 728.9 million ounces, the most significant annual growth since 2010.

If you don’t have any silver in your portfolio, don’t worry, there are plenty of shiny silver penny stocks to choose from that could offer plenty of upside. The following small-cap silver stocks, which are all under $5, are working in Mexico, the most prolific silver mining regions in the world.

Shiny Silver Penny Stocks: Fortuna Silver Mines (TSX:FVI) (NYSE:FSM)

First on the list of shiny silver penny stocks to buy is Fortuna Silver Mines, a precious metals mining company operating two low-cost underground mines in Peru and Mexico and developing a fully permitted gold project in Argentina.

Despite posting a loss in its Q1 2020 results due to pandemic-related shutdowns, the company still ended the quarter with $88.5 million cash and cash equivalents. Fortuna Silver resumed production at its San Jose mine on May 26 at a capacity of 3,000 tonnes per day, and both analysts and investors have their eye on the company.

PI Financial upgraded its rating to “BUY” on May 31 and offered Fortuna Silver Mines a 12-month price target of $6.80, while BMO Capital Partners gave the company an “Outperform” rating and a $7.50 price target.

At the same time, a number of institutional investors and hedge fund managers have been increasing their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in Fortuna Silver Mines by 29.1% during Q4 2019 and now owns 22,485 shares of the company’s stock after acquiring an additional 5,075 shares in the last quarter. Credit Suisse AG boosted its stake in Fortuna Silver Mines by 5.0% during Q4, while Profund Advisors LLC boosted its stake in Fortuna by 19.1%.

On Friday, FSM stock was down 0.81% to $4.89, but the stock is still up over 20% since the beginning of the year.

Shiny Silver Penny Stocks: Endeavour Silver Corp. (TSX:EDR) (NYSE:EXK)

Next on the list of shiny silver penny stocks to buy is Endeavour Silver Corp., a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. The company is also advancing the Terronera Mine project towards a development decision and exploring its portfolio of exploration and development projects in Chile and Mexico with the goal of becoming a premier senior silver producer.

>> Top Low Float Stocks Under $5 This Week

Like Fortuna, Endeavour Silver experienced a minor setback earlier in the year due to forced shutdowns at Mexico mines, but the company has since restarted operations and is ready to capitalize on rising gold prices.

On June 2, Endeavour announced that exploration drilling through Q1 intersected new high-grade gold-silver mineralization in the Santa Cruz vein on the El Curso property at the Guanacevi mine in Mexico, with 12 of 18 holes hitting high grades over minable widths.

“Last year at Guanacevi, we were successful in outlining new resources on the El Curso property, and we commenced mining there in late Q3 2019,” said Endeavour Silver director and CEO Brandford Cooke. “This year, we continue to discover new resources in the Santa Cruz vein on El Curso which should add to our mine life at Guanacevi.”

On Thursday, EXK stock was down 0.45% at $2.23 and is down 7.46% since the beginning of the year, but analysts see the stock going higher. HC Wainwright has offered the company a “BUY” rating and a 12-month price target of $3, which suggests a potential upside of 34.52% from its current price.

Endeavour Silver Corp. has a market cap of $320.75 million, with 143,838,000 shares issued.

Shiny Silver Penny Stocks: Kootenay Silver Inc. (TSXV:KTN)

silver penny stocks

Last, but definitely not least on the list of shiny silver penny stocks to buy is Kootenay Silver, a silver exploration company actively engaged in the discovery and development of mineral projects in Mexico and in British Columbia, Canada.

Like its Mexico-based peers, Kootenay Silver was forced to temporarily suspend operations and has returned with a bang.

Since reopening, the company has released promising assay results from its Copalito silver-gold project, which included 22 meters averaging 106 grams per ton (g/t) silver including 244 g/t silver and 1.09 g/t gold over 3.0 meters including 286 g/t silver over 1.0 meters and 360 g/t silver and 0.1 g/t gold over 1.0 meters within 250 g/t silver and 0.247 g/t gold over 5.0 meters.

A week later, the company announced assay results from an additional four holes at the Columba, which included 2,010 g/t silver over 1.0 meter within 762 g/t silver over 2.8 meters and 865 g/t over 2 meters within 317 g/t over 6 meters.

Apart from its ongoing drilling success, Kootenay Silver has also attracted a number of big-name investors, including gold market guru Eric Sprott, who fully subscribed to the company’s $5 million private placement in August 2019.

KTN stock was down 1.35% on Friday at C$0.36 and is up nearly 10% since the beginning of 2020. An analyst at Fundamental Research has given the company a “BUY” rating and a 12-month price target of C$0.57, while Mackie has offered a “Speculative BUY” rating and expects the stock to C$0.55.

Takeaway

The silver market is on fire right now, and silver prices are expected to stay elevated as more demand comes into the market. The silver supply squeeze, due to depleting reserves and temporary shutdowns, paired with the growing demand, is creating a winning combo for silver, and now is absolutely the perfect time to get in.

If you don’t already own silver, these three silver penny stocks are a great place to start. If you want to check out other potential winners, here are a few other silver stocks that have caught our eye.

Are there any silver penny stocks on your radar lately? Let us know in the comments!

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Growing Number Of Doctors Say They Won’t Get COVID-19 Booster Shots

Growing Number Of Doctors Say They Won’t Get COVID-19 Booster Shots

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

A…

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Growing Number Of Doctors Say They Won’t Get COVID-19 Booster Shots

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

A growing number of doctors say that they will not get COVID-19 vaccine boosters, citing a lack of clinical trial evidence.

I have taken my last COVID vaccine without RCT level evidence it will reduce my risk of severe disease,” Dr. Todd Lee, an infectious disease expert at McGill University, wrote on Twitter.

A vial of the Pfizer-BioNTech COVID-19 vaccine is seen in a file photograph. (Justin Sullivan/Getty Images)

Lee was pointing to the lack of randomized clinical trial (RCT) results for the updated boosters, which were cleared in the United States and Canada in the fall of 2022 primarily based on data from experiments with mice.

Lee, who has received three vaccine doses, noted that he was infected with the Omicron virus variant—the vaccines provide little protection against infection—and described himself as a healthy male in his 40s.

Dr. Vinay Prasad, a professor of epidemiology and biostatics at the University of California, San Francisco, also said he wouldn’t take any additional shots until clinical trial data become available.

“I took at least 1 dose against my will. It was unethical and scientifically bankrupt,” he said.

Allison Krug, an epidemiologist who co-authored a study that found teenage boys were more likely to suffer heart inflammation after COVID-19 vaccination than COVID-19 infection, recounted explaining to her doctor why she was refusing a booster and said her doctor agreed with her position.

She called on people to “join the movement to demand appropriate evidence,” pointing to a blog post from Prasad.

“Pay close attention to note this isn’t anti-vaccine sentiment. This is ‘provide [hard] evidence of benefit to justify ongoing use’ which is very different. It is only fair for a 30 billion dollar a year product given to hundreds of millions,” Lee said.

Dr. Mark Silverberg, who founded the Toronto Immune and Digestive Health Institute; Kevin Bass, a medical student; and Dr. Tracy Høeg, an epidemiologist at the University of California, San Francisco, joined Lee and Prasad in stating their opposition to more boosters, at least for now.

Høeg said she did not need clinical trials to know she’s not getting any boosters after receiving a two-dose primary series, adding that she took the second dose “against my will.”

I also had an adverse reaction to dose 1 moderna and, if I could do it again, I would not have had any covid vaccines,” she said on Twitter. “I was glad my parents in their 70s could get covid vaccinated but have yet to see non-confounded data to advise them about the bivalent booster. I would have liked to see an RCT for the bivalent for people their age and for adults with health conditions that put them at risk.”

The U.S. Food and Drug Administration (FDA) granted emergency use authorization to updated boosters, or bivalent shots, from Pfizer and Moderna in August 2022 despite there being no human data.

Observational data suggests the boosters provide little protection against infection and solid shielding against severe illness, at least initially.

Five months after the authorization was granted, no clinical trial data has been made available for the bivalents, which target the Wuhan strain as well as the BA.4 and BA.5 subvariants of Omicron. Moderna presented efficacy estimates for a different bivalent, which has never been used in the United States, during a recent meeting. The company estimated the booster increased protection against infection by just 10 percent.

The FDA is preparing to order all Pfizer and Moderna COVID-19 vaccines be replaced with the bivalents. The U.S. Centers for Disease Control and Prevention, which issues recommendations on vaccines, continues advising virtually all Americans to get a primary series and multiple boosters.

Professor Calls for Halt to Messenger RNA Vaccines

A professor, meanwhile, became the latest to call for a halt to the Pfizer and Moderna vaccines, which are both based on messenger RNA technology.

At this point in time, all COVID mRNA vaccination program[s] should stop immediately,” Retsef Levi, a professor of operations management at the Massachusetts Institute of Technology, said in a video statement. “They should stop because they completely failed to fulfill any of their advertised promise[s] regarding efficacy. And more importantly, they should stop because of the mounting and indisputable evidence that they cause unprecedented level of harm, including the death of young people and children.”

Levi was referring to post-vaccination heart inflammation, or myocarditis. The condition is one of the few that authorities have acknowledged is caused by the messenger RNA vaccines.

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Tyler Durden Thu, 02/02/2023 - 19:10

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Apple Pares Much Of Drop During Earnings Call

Apple Pares Much Of Drop During Earnings Call

Update 6:00pm:  Apple has staged a remarkable reversal after hours, and erased almost the entire…

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Apple Pares Much Of Drop During Earnings Call

Update 6:00pm:  Apple has staged a remarkable reversal after hours, and erased almost the entire loss after the company said that it expects a 5% impact from FX rates in Q2, and also expects iPhone revenue growth to accelerate in Q2. CEO Tim Cook was also asked whether the move to higher ASPs for the iPhone is sustainable in light of the sharp decline in sales, and whether this will continue in a worsening economy. Cook said the 14 Pro and 14 Pro Max did extremely well until the supply-chain constraints. He says this is definitely a “strong Pro cycle” and credits the new features in the device. He says he’s happy that Apple is now shipping to the demand.

Tim Cook also said that AI is critical to Apple and mentions features like crash-and-fall detection and the use of AI in features like EKG on the Apple Watch. He says AI will effect everything the company does, including all products and services.

Apple is quite bullish on India and other emerging markets, with CEO Tim Cook saying the company will soon open its first retail stores in India. He also said Apple saw marked improvement in China in December (versus November) after another round of Covid re-openings.

As Bloomberg notes, the company also stuck to a line that revenue and sales of individual product categories would have been higher if not for supply-chain constraints and issues stemming from the macroeconomic environment.

* * *

With both Amazon and Google sliding after reporting disappointing earnings and mixed guidance, it was all up to the world's biggest company, AAPL, to provide some hail mary for the tech earnings season which for better or worse is concentrated in a one hour stretch this afternoon. Alas, it was not meant to be and after missing on the top and bottom line, AAPL has joined the parade of selling and tumbled after hours due to numbers which the market was clearly not impressed with.

  • EPS $1.88 vs. $2.10 y/y, missing estimate $1.94
  • Gross margin $50.33 billion, -7.2% y/y, missing estimate $52.03 billion
  • Revenue $117.15 billion, -5.5% y/y, missing estimate $121.14 billion
    • Products revenue $96.39 billion, -7.7% y/y, missing estimate $98.98 billion
    • IPhone revenue $65.78 billion, -8.2% y/y, missing estimate $68.3 billion
    • Mac revenue $7.74 billion, -29% y/y, missing estimate $9.72 billion
    • IPad revenue $9.40 billion, +30% y/y, beating estimate $7.78 billion
    • Wearables, home and accessories $13.48 billion, -8.3% y/y, missing estimate $15.32 billion
    • Service revenue $20.77 billion, +6.4% y/y, beating estimate $20.47 billion
    • Greater China rev. $23.91 billion, -7.3% y/y, beating estimate $21.8 billion
  • Cash and cash equivalents $20.54 billion, -45% y/y, estimate $29.91 billion

And here is AAPL's diluted EPS in context: needless to say, could have been better.

Commenting on the quarter, Tim Cook said that “during the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base.”

CFO Luca Maester chimed in: “our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop. We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter. The strength of our ecosystem, unmatched customer loyalty, and record sales spurred our active installed base of devices to a new all-time high. This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year.”

Going back to the results, Apple missed consensus revenue in most product categories, with the exception of iPads, to wit:

  • IPhone revenue $65.78 billion, missing estimate $68.3 billion
  • Mac revenue $7.74 billion, missing estimate $9.72 billion
  • Wearables, home and accessories $13.48 billion, missing estimate $15.32 billion
  • IPad revenue $9.40 billion, beating estimate $7.78 billion

Of note: Apple recorded its first decline in iPhone revenue since the third quarter of 2020; yet in context, the 8% drop was still less than the 20% decrease reported by Samsung. Other major smartphone providers that have yet to report are expecting to see double-digit losses. Ironically, Apple may have fared comparatively well on smartphone revenue.

The silver lining: service revenue $20.77 billion, +6.4% y/y, beating estimates of $20.47 billion...

... and rose 6.5% Y/Y, an improvement from last quarter's 5.0%

One other place where investors were pleasantly surprised was China sales, which at $23.91 billion, beat the estimate of $21.8 billion by more than $2 billion.

None of that changes the fact that AAPL's sales by region were uniformly negative across the board.

And another potential problem: AAPL's gross cash continues to slide, dropping to $165 billion, the lowest since June 2014...

... while cash net of debt rebounded modestly from $49 billion to $54 billion, just above a 12 year low with the company having spent hundreds of billions on stock buybacks. Let's hope that Apple doesn't actually need to use that cash.

Commenting on the results, Bloomberg writes that the results show that Apple hasn’t been able to dodge the tech slowdown afflicting many of its competitors. Demand for smartphones and computers has slumped in the past year, and Covid-19 restrictions in China added to Apple’s woes during the holiday sales period. Timing was another issue: The company didn’t launch new Macs and HomePods until recent weeks, missing the end of the first quarter.

In response to these disappointing earnings, the stock predictably slumped as much as 4% before recouping some losses, although even with the drop it is back to where it was... yesterday.

Tyler Durden Thu, 02/02/2023 - 18:05

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Apple Slides After Missing On Top And Bottom-Line, First iPhone Revenue Drop Since 2020

Apple Slides After Missing On Top And Bottom-Line, First iPhone Revenue Drop Since 2020

With both Amazon and Google sliding after reporting…

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Apple Slides After Missing On Top And Bottom-Line, First iPhone Revenue Drop Since 2020

With both Amazon and Google sliding after reporting disappointing earnings and mixed guidance, it was all up to the world's biggest company, AAPL, to provide some hail mary for the tech earnings season which for better or worse is concentrated in a one hour stretch this afternoon. Alas, it was not meant to be and after missing on the top and bottom line, AAPL has joined the parade of selling and tumbled after hours due to numbers which the market was clearly not impressed with.

  • EPS $1.88 vs. $2.10 y/y, missing estimate $1.94
  • Gross margin $50.33 billion, -7.2% y/y, missing estimate $52.03 billion
  • Revenue $117.15 billion, -5.5% y/y, missing estimate $121.14 billion
    • Products revenue $96.39 billion, -7.7% y/y, missing estimate $98.98 billion
    • IPhone revenue $65.78 billion, -8.2% y/y, missing estimate $68.3 billion
    • Mac revenue $7.74 billion, -29% y/y, missing estimate $9.72 billion
    • IPad revenue $9.40 billion, +30% y/y, beating estimate $7.78 billion
    • Wearables, home and accessories $13.48 billion, -8.3% y/y, missing estimate $15.32 billion
    • Service revenue $20.77 billion, +6.4% y/y, beating estimate $20.47 billion
    • Greater China rev. $23.91 billion, -7.3% y/y, beating estimate $21.8 billion
  • Cash and cash equivalents $20.54 billion, -45% y/y, estimate $29.91 billion

And here is AAPL's diluted EPS in context: needless to say, could have been better.

Commenting on the quarter, Tim Cook said that “during the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base.”

CFO Luca Maester chimed in: “our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop. We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter. The strength of our ecosystem, unmatched customer loyalty, and record sales spurred our active installed base of devices to a new all-time high. This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year.”

Going back to the results, Apple missed consensus revenue in most product categories, with the exception of iPads, to wit:

  • IPhone revenue $65.78 billion, missing estimate $68.3 billion
  • Mac revenue $7.74 billion, missing estimate $9.72 billion
  • Wearables, home and accessories $13.48 billion, missing estimate $15.32 billion
  • IPad revenue $9.40 billion, beating estimate $7.78 billion

Of note: Apple recorded its first decline in iPhone revenue since the third quarter of 2020; yet in context, the 8% drop was still less than the 20% decrease reported by Samsung. Other major smartphone providers that have yet to report are expecting to see double-digit losses. Ironically, Apple may have fared comparatively well on smartphone revenue.

The silver lining: service revenue $20.77 billion, +6.4% y/y, beating estimates of $20.47 billion...

... and rose 6.5% Y/Y, an improvement from last quarter's 5.0%

One other place where investors were pleasantly surprised was China sales, which at $23.91 billion, beat the estimate of $21.8 billion by more than $2 billion.

None of that changes the fact that AAPL's sales by region were uniformly negative across the board.

Commenting on the results, Goldman writes that the results show that Apple hasn’t been able to dodge the tech slowdown afflicting many of its competitors. Demand for smartphones and computers has slumped in the past year, and Covid-19 restrictions in China added to Apple’s woes during the holiday sales period. Timing was another issue: The company didn’t launch new Macs and HomePods until recent weeks, missing the end of the first quarter.

In response to these disappointing earnings, the stock predictably slumped as much as 4% before recouping some losses, although even with the drop it is back to where it was... yesterday.

Tyler Durden Thu, 02/02/2023 - 17:01

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