Charles Oliver, HBSc CFAPan American SilverPAAS.TOPAST TOP PICKAug 05, 2014

Once a bull market starts to really mature, silver has a tendency to outperform. It's now doing that. It's famously volatile. Always stay with the best-in-class operators and the best assets. 

This name is the institutional favourite, who are fairly sticky holders. Acquisition of MAG Silver really structurally improves its cost structure, which is world class. Cashflow growth in the precious metals miners is off the charts. His guess is that silver and gold prices will continue to go higher. Margins should improve. Leader in the group, though will have corrections. In Mexico and Peru, both pretty good jurisdictions.

Classic inflation hedge if you think one of the biggest risks to portfolios is inflation. Makes a pretty good duo with WPM.

Is bullish metals. Is one of the largest silver producers, based around the world, with strong production. Is increasing output in Latin America. A little sensitive to commodity price swings. 

Prefers silver to gold right now, and this is a name he likes. In addition to its being a safe haven, you get the added benefit of industrial demand with EVs and electronics. 

Probably the premier silver company. 

Bottomed in March 2024, moved very quickly upwards since then. Up ~45% in last 12 months. Still upside to silver. Acquisition is helping in terms of synergies. Prefers bullion, as miners can face operational and management challenges. See his Top Picks.

Sold off aggressively after acquisition. Reasonably good job paying down debt. Guatemalan assets will probably restart in 2024. He notes that he's a close personal friend of the CEO.

They had operational problems in Mexico, but they remain a major silver and gold producer. They just took over the Latin American operations of Yamana in tandem with Agnico; this will double their gold production. They have a warrant to reopen a mine in Guatemala, and might reopen. Gold and silver is the place to be.

If central banks continue to print money, bodes well for hard assets. Gold is trending higher again, a hedge against inflation. Jury is still out, as we don't have runaway inflation. He isn't saying there will be, but there is a risk. Fed is willing to let inflation run hot. Don't have all your money in gold, but a percentage in gold or the precious metals (miners) does make sense. He owns Kirkland Lake and Pan American Silver. These two are the top miners based on his metrics.

Has recommended it before. Even though it's doubled, it still holds value because of a new discovery in a Mexican silver mine. It's the second-biggest silver miner in the world. If they can re-open a Guatemalan mine, it would double their production. They're raising their dividend. (Analysts’ price target is $34.54)