The S&P/TSX Index was up over 200 points in early afternoon trading on February 12. Mining stocks have surged on Monday after being battered to conclude the previous week. The spot price of gold was up 0.90% during the same trading period and silver had risen over 2.5%. However, some analysts are warning that the unveiling of the U.S. infrastructure plan, expected to be in the realm of $1.5 trillion, could put downward pressure on precious metals.
Argonaut Gold Inc. (TSX:AR) operates a number of gold mining projects in North America. The stock was up 4.87% in early afternoon trading. In January Argonaut announced that it had met its 2017 guidance of annual gold equivalent ounces (GEOs) with production of 126,704 – it had provided a guidance of 122,000 to 130,000. Argonaut provided a guidance of between 165,000 to 180,000 GEOs for its 2018 outlook.
Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) is a Vancouver-based miner and the largest silver producer in China. Shares of Silvercorp were up 8.39% in early afternoon trading, boosted by the surging spot price of silver. In the third quarter Silvercorp posted net income of $12.7 million or $0.08 per share compared to $13.1 million in the prior year.
Yamana Gold Inc. (TSX:YRI)(NYSE:AUY) is a Toronto-based gold producer, one of the largest in the world. Yamana Gold stock was up 4.63% in early afternoon trading. In its preliminary results Yamana beat its guidance for full-year gold production, silver production, and copper production. Shares have jumped 3.8% in 2018 thus far.
