NEW YORK, NY -- (Marketwire) -- 08/24/12 -- Silver stocks have been surging in the last month as silver prices have rebounded on renewed optimism in Europe. The Global X Silver Miners (SIL) has soared over 16 percent in the last month, nearly double the iShares Silver Trust ETF (SLV) gain of 9 percent over the same period. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Coeur d'Alene Mines Corp. (NYSE: CDE) and Hecla Mining Company (NYSE: HL).
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Recent financial results of silver miners have shown that silver prices are having a negative impact on profits. While some miners have seen production rise, revenues have fallen as a result of lower prices. Silver prices have fallen approximately 23 percent from the second quarter of last year. Despite the low prices silver companies appear to be optimistic going forward. Companies such as -- First Majestic and Coeur d'Alene -- have begun share repurchase programs, while others have expanded their portfolios by either acquiring or investing in other companies.
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Coeur d'Alene Mines is the largest U.S.-based primary silver producer and a growing gold producer. The company has built and commenced production from three wholly-owned, long-lived mines between 2008 and 2010. Coeur d'Alene recently acquired 1,851,852 common shares of Huldra Silver Inc. at a purchase price of Cad$1.08 per share.
Hecla Mining Company is a leading low cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico. The company recently reported it had acquired 20,000,000 common shares of Dolly Varden Silver Corporation for $3.2 million.
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