How to Buy Canadian Silver Stocks
If you want to explore the investment potential of the silver market in Canada
, you have three main options: first, you can go to your local precious metal shop and purchase physical silver in the form of silver coins or bullions
, then you can shop around for high-yield silver stocks and, third, you can explore the sophisticated market of silver futures. The problem with buying physical silver is that it will hardly produce any yield on your investment, while silver futures are primarily available to institutional investors such as governments and state-run companies. So it logically follows, then, that the middle way is the best way to your silver bonanza. As to the how-to part of this task, suffice it to say that you can buy silver stocks online
or, if you are a brick-and-mortar fellow, you can go to a silver stocks broker and ask him or her to set up an investment plan for you.
First consider the amount of money you can reasonably spend on silver stock. It is important to get an idea of your budget for investment. Then monitor closely the silver index which represents a composite of various companies producing precious metals
. The index shows the price levels in the silver industry and will give you an idea of the current situation on the market. As a next step, determine a price level you are willing to pay for silver stocks that look like a reasonable investment. Upon finding out which companies are sound, you have to make up your mind on how much you will pay per share of stock at the current market price. Buy stock
at the price you have set, either by using the services of a broker
or through a financial company
. Make sure you have placed a limit order, allowing you to establish price you want to pay for certain silver stocks.
It is also a good idea to get familiar some of the high-yield, growth-oriented silver corporations in Canada, so that you know what investment options to discuss with your broker.
The Goldbank Mining Corporation is one of the top-gain silver producing Canada-based companies today. Listed at the Toronto Stock Exchange
under the ticker GLB, the company is mainly focused on the exploration stage of the silver mining process. Goldbank is developing silver exploration projects throughout Canada, as well as in Peru and Argentina. The company has released on the market 12.5 million shares, and it has a market capitalization of over half a million CAD.
Harvest Gold Corp. is another high-yield, growth-oriented gold and silver producer based in Canada. The company’s shares (over 44 million of them in market circulation as of May 2010) are traded on the Toronto Stock Exchange under the symbol HVG. Harvest Gold Corporation is developing gold and silver projects in Nevada in the United States, as well as in Canada’s province of Manitoba. The company’s market capitalization is 6.25 million CAD and its trade volume is over 336,000 CAD.
Abcourt Mines Inc. is a Canadian silver producing company focused on mining, exploring and developing of silver projects throughout Canada, but mainly in the north-western parts of Quebec
. As of May 2010, the company announced a trade volume of 172,000 CAD and market capitalization of close to nine million CAD. The Company is publicly traded on the Toronto Stock Exchange under the stock tier ABI and has released on the market over 74 million shares.