With the increasing use of silver across several industries and the rising safe-haven demand for it amid the current economic uncertainties, the white metal is expected to continue rallying in price. So, we think it could be wise to add silver mining stocks Fortuna (FSM), Silvercorp (SVM), Avino (ASM), and Great Panther (GPL) to one’s watch list. Wall Street analysts expect these stocks to rally significantly in the coming months. So read on.Retail investors piled into physical silver at the beginning of the year, causing a ‘silver squeeze.’ But silver prices have remained below $24 per troy ounce lately. And according to Coin Price Forecast, the white metal’s price is expected to hit $30 by the middle of 2024 and $40 by the middle of 2025.
The consumer price index increased 5.4% in July, and the International Monetary Fund (IMF) warned that inflation could be persistent. This should drive the safe-haven demand for precious metals. In addition, silver is seeing rising demand from electronics manufacturers and the auto industry.
So, we think it could be wise to look into Canada-based silver mining stocks Fortuna Silver Mines Inc . (NYSE:FSM), Silvercorp Metals Inc . (NYSE:SVM), Avino Silver & Gold Mines Ltd. (ASM), and Great Panther Mining Limited (GPL). Wall Street analysts expect these stocks to rally significantly in the near term.