Silver is often outshone by gold as an investment. Gold has a price advantage and strong historical growth. However, silver is the more versatile metal in terms of its industrial applications. Silver is used extensively in the alternative energy market, particularly in photovoltaic panel manufacturing. It is essential to the solar industry, with one-fifth of all global silver demand linked to renewables.
Americas Gold & Silver Corp. (NYSE: USAS) is a mining company with gold and silver operations in both Mexico and the United States. Recent price growth in both the gold and silver markets makes it a top alternative bargain pick today.
Sales performance at the company has been mixed in recent years, with high volatility in precious metal pricing. However, 2020 could be a year of strong growth, especially with a precarious global economy sending gold and silver prices to new highs. Earnings are expected to increase by 155.36% this year, which could generate new investor interest and stock price growth.
Out of seven top analysts surveyed by FactSet, six recommend a BUY rating on this stock. The average target price of $4.53 suggests a strong upside for investors who buy today. With its growth potential and strength in the precious metal market, this is an alternative stock to consider in July.
- 1 Year Price Growth: 69%
- YTD Price Growth: 20%
- 3 Month Price Growth: 70%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.