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6 Precious Metals Stocks Set to Explode

Endeavour Silver

Endeavour Silver (EXK - Get Report) is a Canadian mineral company engaged in the evaluation, acquisition, exploration, development and exploitation of mineral properties. The Company produces silver-gold from its underground mines at Guanacevi and Guanajuato in Mexico. Endeavour's current market cap is $911.29 million and so far in 2011 the stock is up nicely by around 24%.

This is a stock I last highlighted back on Feb. 28 as a buying opportunity when it was trading at around $7.50 a share. It's now above $11 a share. Just for context, in the same piece I also highlighted Coeur d'Alene Mines (CDE) at around $31.50 a share -- it's now above $37 -- and First Majestic Silver (AG) at around $15.50 -- it's now over $26. The only bad call I had in that piece was Mines Management (MGN), which was at $3.50 and is now trading around $3 a share.

Related: 7 Mining Stocks Analysts Expect to Soar

Back to Endeavour: This hot silver play has already started to break out above some recent overhead resistance at around $10 to $10.33 a share. This move is coming on massive volume, which registered over 4.8 million shares on Tuesday (an up day) versus the three-month average volume of 2.3 million shares.

The stock is now trading at brand new all-time highs, and I expect it to continue to soar higher. I think it goes to $15 a share and if the uptrend is strong enough it could have a shot at $20 a share. The trade here is easy to manage from a risk/reward basis. Buy it on any pullback and stay with it as long as the stock doesn't trade below the breakout levels I cited above.

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SYM TRADE IT LAST %CHG
AXU $0.48 0.00%
EXK $2.15 0.00%
MGH $0.26 0.00%
NG $4.08 0.00%
NSU $4.06 0.00%

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