Stockchase Opinions

Lyle SteinFirst Majestic SilverAG.TOBUYDec 30, 2011

Starting in 2010, their rapid production was appreciated by the street. It is now one of the growth darlings in the silver sector. They are producing silver at $10 an ounce so if silver is at $26, you have a $16 an ounce spread and those ounces are going up.
$17.18

Stock price when the opinion was issued

$21.89

As of Jun 10, 2026. Market Open.

precious metals
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RISKY

Likes silver, though prefers another name. Is a good spec.

DON'T BUY

First gold fell off, and then silver did the same thing. You're relying on the fickleness of investor appetite. A much tougher theme to play than just owning tech stocks that are changing the world.

He owns silver and gold, but bought at way lower levels. He'd rather put new $$ into nuts and bolts that he can be more sure of for the long term.

BUY

Laggard. Attractive entry point. Silver as a commodity is seeing higher highs and higher lows. Really likes the potential of silver longer term, especially for a Santa Claus rally.

BUY

It is one of the highest quality names in silver. However silver is a very volatile commodity and you shouldn't be aggressive with it. You could take a small position now and then wait for the higher moves which should start in October. Smaller moves could happen from now into July.

PAST TOP PICK
(A Top Pick Dec 23/21, Down 16%) Mainly silver. Had some lumpiness but operations on target now. Expecting 30 million ounces of silver equivalent in 2023. Should do well as a major silver producer. In response to a question re gold and silver he prefers gold as more stable.
TOP PICK
Fantastic company. Produces the most silver of companies with a market cap of over 1B. 56% of revenues come from silver, really high. Well situated in US and Mexico. Longer term, there will be a huge deficit due to demand from EVs, solar panels, infrastructure build out. Beaten up, but tends to be strong from now till February and can run to March/April. Yield is 0.17%. (Analysts’ price target is $20.72)
DON'T BUY
It is not his favourite precious metals stock because it has a pretty high cost basis. They are getting their act together from an operational basis. He was shorted but it broke out and he covered.
BUY
A high quality stock run by a hard-working CEO he admires. When silver moves up, FR will be a bellweather.
SHORT
Tons of leverage to this overpriced stock, because they have high-cost mines. He's short this stock. The next leg in precious metals will send higher-quality projects will outperform. There are better stocks than this.
WATCH
It's still not breaking out above $12, but if it does then it's good news. Huge. The longer the base, the greater the case, which could happen here after three years of a base.
PAST TOP PICK
(A Top Pick Apr 03/18, Up 3%) A premier silver producer in Mexico. Low production costs and well-managed. Should do well long-term given its ridiculous value, but now this sector isn't attracting much interest from, say, pension funds. Those funds should flow back in at some point.
PAST TOP PICK

(Past Top Pick, April 3, 2017, Up 29%) Best leveraged stock to the price of silver. It's a low-cost producer with high reserves in the ground. Great management in Mexico. Silver will do better than gold. This should do extremely well.

TOP PICK

This should be trading much higher. They just acquired Primero Mining and upgraded resources estimate with production rising. Costs remain steady. Has enjoyed a great run since 2015. Great entry point now. (Analysts' price target $11.16)

DON'T BUY

Silver producer in Mexico. It trades at a premium but he does not feel it is justified. There are better and cheaper silver names to own. They will have to invest quite a bit in an acquisition they just made. It will take about a year.

COMMENT

In the past, this has had very strong seasonality from approximately from the middle of December right through until the end of February. This year nothing happened. We are not getting the normal seasonality you would expect. (See Top Picks.)