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Best Stocks of the Top-Performing ETF of the Past Month
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iShares MSCI Global Silver and Metals Miners ETF (SLVP - Free Report) topped the list of best-performing ETFs in the past month, gaining 27.4%. Being a leveraged play, metal miners tend to experience more gains than their bullion cousins in a rising metal market (read: Gold ETFs Outperform in March).
Though most of the stocks in the fund’s portfolio delivered strong returns, a few were up more than 25% in a month. These include Coeur Mining Inc. (CDE - Free Report) , Endeavour Silver Corporation (EXK - Free Report) , Silvercorp Metals (SVM - Free Report) , Seabridge Gold (SA - Free Report) and SilverCrest Metals Inc. (SILV - Free Report) .
The grey metal has been on the rise over the past month on renewed expectations of a Fed rate cut in June. A lower interest rate environment raises demand for silver as the precious metals do not pay any interest, making them less appealing compared to alternative investments like bonds.
As the global economy is improving, industrial and manufacturing demand is picking up, driving silver prices higher. The white metal is used in a wide range of industrial applications. About half of the metal’s total demand comes from industrial applications, while 30% comes from jewelry/silverware/coins and medal manufacturers.
The Silver Institute predicts 2024 to be a banner year for silver, with prices potentially hitting a decade-high. Global demand is expected to reach 1.2 billion ounces this year, which would mark the second-highest level on record, given the continued strength of industrial end-uses and a recovery in jewelry and silverware demand. The institute sees a 9% increase in demand for silverware and a 6% rise in jewelry demand this year, with India expected to drive the jump in jewelry purchases. A projected recovery in consumer electronics will also provide a boost to the silver market (read: Time to Buy India ETFs?).
Further, the global push for green energy, increasing demand in areas like 5G, a rebound in global computer shipments, the photovoltaics (PV) and automotive industries, and new sources of demand for sensors used in IoT and OLED lighting will continue to boost silver demand. Silver is largely used for manufacturing solar panels and electric vehicles and will play a key role in the shift to 5G wireless network technology.
Let’s take a closer look at the fundamentals of SLVP.
SLVP in Focus
iShares MSCI Global Silver and Metals Miners ETF follows the MSCI ACWI Select Silver Miners Investable Market Index, providing investors exposure to companies that derive the majority of revenues from silver exploration or metals mining. It holds 34 stocks in its basket, with Canadian firms making up the lion’s share at 67.4%, while the United States rounds off the next spot with double-digit exposure.
iShares MSCI Global Silver and Metals Miners ETF has AUM of $169.1 million and an average daily volume of about 100,000 shares. It charges 39 bps in annual fees (see: all the Materials ETFs here).
Best Performing Stocks of SLVP
Coeur Mining operates as a primary silver and gold producer with precious metals mines in the Americas. The stock gained 41.7% in a month and accounts for a 0.7% share in the ETF.
Coeur Mining has an estimated earnings growth of 78.3% for this year. It currently carries a Zacks Rank #3 (Hold) and has a Growth Score of A.
Endeavour Silver is a small-cap silver mining company focused on the growth of silver production, reserves and resources in Mexico. It jumped about 40.7% and makes up for 2.3% share in SLVP.
Endeavour Silver has an estimated earnings growth rate of 500% for this year and currently has a Zacks Rank #3.
Silvercorp Metals is engaged in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the People's Republic of China. It explores for silver, gold, lead and zinc properties. The stock accounts for a 2.6% share in the SLVP portfolio and has surged about 29% in the past month.
Seabridge Gold is a global leader in gold and mining listings. It has rallied 27.1% in a month and makes up for 0.6% in SLVP’s portfolio.
SA has an estimated earnings growth rate of 138.5% for this year and a Zacks Rank #3.
SilverCrest Metals is focused on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico. The stock has gained about 27% in a month and makes up for a 4.2% share in SLVP’s basket.
SilverCrest Metals’ earnings are expected to decline 41.87% this year. It currently has a Zacks Rank #4 (Sell) and a Growth Score of A.
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Best Stocks of the Top-Performing ETF of the Past Month
iShares MSCI Global Silver and Metals Miners ETF (SLVP - Free Report) topped the list of best-performing ETFs in the past month, gaining 27.4%. Being a leveraged play, metal miners tend to experience more gains than their bullion cousins in a rising metal market (read: Gold ETFs Outperform in March).
Though most of the stocks in the fund’s portfolio delivered strong returns, a few were up more than 25% in a month. These include Coeur Mining Inc. (CDE - Free Report) , Endeavour Silver Corporation (EXK - Free Report) , Silvercorp Metals (SVM - Free Report) , Seabridge Gold (SA - Free Report) and SilverCrest Metals Inc. (SILV - Free Report) .
The grey metal has been on the rise over the past month on renewed expectations of a Fed rate cut in June. A lower interest rate environment raises demand for silver as the precious metals do not pay any interest, making them less appealing compared to alternative investments like bonds.
As the global economy is improving, industrial and manufacturing demand is picking up, driving silver prices higher. The white metal is used in a wide range of industrial applications. About half of the metal’s total demand comes from industrial applications, while 30% comes from jewelry/silverware/coins and medal manufacturers.
The Silver Institute predicts 2024 to be a banner year for silver, with prices potentially hitting a decade-high. Global demand is expected to reach 1.2 billion ounces this year, which would mark the second-highest level on record, given the continued strength of industrial end-uses and a recovery in jewelry and silverware demand. The institute sees a 9% increase in demand for silverware and a 6% rise in jewelry demand this year, with India expected to drive the jump in jewelry purchases. A projected recovery in consumer electronics will also provide a boost to the silver market (read: Time to Buy India ETFs?).
Further, the global push for green energy, increasing demand in areas like 5G, a rebound in global computer shipments, the photovoltaics (PV) and automotive industries, and new sources of demand for sensors used in IoT and OLED lighting will continue to boost silver demand. Silver is largely used for manufacturing solar panels and electric vehicles and will play a key role in the shift to 5G wireless network technology.
Let’s take a closer look at the fundamentals of SLVP.
SLVP in Focus
iShares MSCI Global Silver and Metals Miners ETF follows the MSCI ACWI Select Silver Miners Investable Market Index, providing investors exposure to companies that derive the majority of revenues from silver exploration or metals mining. It holds 34 stocks in its basket, with Canadian firms making up the lion’s share at 67.4%, while the United States rounds off the next spot with double-digit exposure.
iShares MSCI Global Silver and Metals Miners ETF has AUM of $169.1 million and an average daily volume of about 100,000 shares. It charges 39 bps in annual fees (see: all the Materials ETFs here).
Best Performing Stocks of SLVP
Coeur Mining operates as a primary silver and gold producer with precious metals mines in the Americas. The stock gained 41.7% in a month and accounts for a 0.7% share in the ETF.
Coeur Mining has an estimated earnings growth of 78.3% for this year. It currently carries a Zacks Rank #3 (Hold) and has a Growth Score of A.
Endeavour Silver is a small-cap silver mining company focused on the growth of silver production, reserves and resources in Mexico. It jumped about 40.7% and makes up for 2.3% share in SLVP.
Endeavour Silver has an estimated earnings growth rate of 500% for this year and currently has a Zacks Rank #3.
Silvercorp Metals is engaged in the acquisition, exploration, development, and mining of precious and base metal mineral properties in the People's Republic of China. It explores for silver, gold, lead and zinc properties. The stock accounts for a 2.6% share in the SLVP portfolio and has surged about 29% in the past month.
Silvercorp Metals has an estimated earnings growth rate of 68.4% for the fiscal year (ending March 2025). It carries a Zacks Rank #2 (Buy) and has a favorable Value Score of B. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Seabridge Gold is a global leader in gold and mining listings. It has rallied 27.1% in a month and makes up for 0.6% in SLVP’s portfolio.
SA has an estimated earnings growth rate of 138.5% for this year and a Zacks Rank #3.
SilverCrest Metals is focused on the acquisition, exploration, advancement and development of base mineral and precious metals properties primarily in Mexico. The stock has gained about 27% in a month and makes up for a 4.2% share in SLVP’s basket.
SilverCrest Metals’ earnings are expected to decline 41.87% this year. It currently has a Zacks Rank #4 (Sell) and a Growth Score of A.