More silver miners reporting earnings and doing great
As much as I like SLW, I also consider EXK best of breed. EXK reported earnings after the close in which analysts are now reporting their earnings "missed" by 4 cents. Sounds negative....right? But they don't report the great tactical strategy executed by management as to why earnings were lower than expected. Here's the reason:
"Management elected to not to sell all the silver and gold produced during the 3rd quarter due to the falling precious metal prices. As a result, precious metals held in inventory at quarter-end increased 270,536 oz silver and 2,420 oz gold. Given that silver and gold prices are already rebounding in the 4th quarter, these inventories should substantially enhance our future financial results when sold."
If EXK had sold all their mined silver and gold during the 3rd quarter, they would have exceeded earnings expectations by 35%. With silver prices expected to trend up through 2012, EXK should continue to be best of breed.