SOURCE: The Bedford Report

The Bedford Report

August 15, 2011 08:16 ET

Hecla Mining and Silver Wheaton Well Prepared for Swings in Silver Prices

The Bedford Report Provides Equity Research on Silver Wheaton & Hecla Mining

NEW YORK, NY--(Marketwire - Aug 15, 2011) - Silver stocks have been exceptionally volatile of late as concerns surrounding the global economy led analysts to question industrial demand for the metal. While silver is considered a safe haven asset, half of the metals demand comes from industrial consumption which could drop off in the event of a long-term economic slowdown. The Bedford Report examines the outlook for companies in the Silver Industry and provides equity research on Silver Wheaton Corporation (NYSE: SLW) (TSX: SLW) and Hecla Mining Co. (NYSE: HL). Access to the full company reports can be found at:

Disappointing reports on jobless claims and factory orders have created doubt about industrial demand for silver, which is used for batteries, brazing and soldering, bearings and high-end electronics. The Commerce Department said factory orders fell 0.8 percent in June, indicating lower demand for factory goods for the second time in three months.

In China, roughly 70 percent of the country's silver demand comes from the industrial sectors. Chinese customs data for June showed that net silver imports had fallen for the third consecutive month, with June levels of 175 mt down 46 percent from a year ago. releases stock research on the Silver Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Despite near term headwinds, silver companies such as Hecla Mining and Silver Wheaton remain confident in the silver market. Randy Smallwood, CEO of Silver Wheaton, said earlier this summer that silver prices could reach $50 in the next two to three years. In the most recent quarter Silver Wheaton's revenue more than doubled compared with Q2 2010, to a record US$194.8 million, on silver equivalent sales of 5.1 million ounces.

Hecla Mines has a reputation of being one of the most cost effective silver miners, allowing it to better navigate swings in silver prices. In 2010, Hecla was the lowest-cost primary silver producer in the US, producing 10.6 million ounces of silver at an average total cash cost per ounce of negative $1.46.

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