While the broad based U.S. stock market indexes are hovering around the flat-line in 2016, mining stocks have been on an absolute tear. The average silver miner has more than doubled year-to-date, whereas 17 of 29 gold miners with a market valuation in excess of $200 million have at least doubled in value. In fact, out of 39 qualifying miners (silver included) with a valuation above $200 million, just one is up less than 49% year-to-date! Sorry Primero Mining shareholders.
Mining stocks have had such an incredible run this year thanks to the combination of rising underlying commodity prices and shrinking operating costs.