CDECoeur Mining, Inc.

Coeur Mining produces silver and gold at several North American mines.

Silver is half an industrial metal and half a store of value: it rises with gold when investors seek shelter, but also depends on demand from the solar industry and electronics. Hence moves sharper than gold's in both directions.

The company spent years investing in expanding its mines and carrying debt, so its result is more sensitive to metal prices than a less leveraged producer's: when prices are high profit grows faster, when they are low it vanishes faster. As with any miner, ore grade and mining cost matter, not only the exchange quote. Gold now supplies a large share of revenue, which softens the swings that pure silver exposure would bring. The company pays no dividend.