10 Best Silver Mining Stocks to Buy Right Now

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1) Royal Gold, Inc. (NASDAQ:RGLD)

Average Upside Potential: 20.0%

Number of Hedge Fund Holders: 30

Royal Gold, Inc. (NASDAQ:RGLD) acquires and manages precious metal streams, royalties, and related interests.  The company, through its wholly-owned subsidiary RGLD Gold AG, holds a life of mine purchase and sale agreement for 100% of the silver produced from Zone 5 at Khoemacau.

Khoemacau is a copper-silver mine which is located in the Kalahari copper belt in northwestern Botswana in the Kalahari Desert and is operated by a subsidiary of MMG Limited. MMG aims to expand the total production capacity at Khoemacau to 130,000 tonnes of copper in concentrate per year by building a new 4.5 million tonne per year process plant, increasing Zone 5 output, and developing additional deposits. It expects to start the expansion feasibility study by 2024 end, start construction in 2026, produce the first concentrate in 2028, and reach full capacity by 2029. Notably, any expanded production from the Zone 5 and Mango NE deposits falls in the area of interest covered by Royal Gold’s silver stream.

Royal Gold, Inc. (NASDAQ:RGLD) added that the Khoemacau stream fits into the production profile and is expected to add another component of growth.

In Q3 2024, Royal Gold, Inc. (NASDAQ:RGLD) recognized record total revenue of $193.8 million, comprising stream revenue of $133.1 million and royalty revenue of $60.8 million at an average gold price of $2,474 per ounce, an average silver price of $29.43 per ounce and an average copper price of $4.18 per pound. The growth in total revenue was mainly because of higher average gold, silver, and copper prices compared to the prior period. Given the positive outlook on silver demand, analysts believe that increased silver prices might support the company’s revenue.

Raymond James increased its price objective on the shares of Royal Gold, Inc. (NASDAQ:RGLD) from $184.00 to $186.00, giving an “Outperform” rating on 11th November.

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READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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