"While gold is in the limelight, silver -- often called the 'poor man’s gold' -- has actually outperformed," says Mark Skousen.

In his premium trading service, The Hedge Fund Trader, the advisor looks at Hecla Mining (NYSE: HL), the largest producer of silver in the United States. Here's the leading advisor's review.

"Silver is benefiting from two trends: a bet on the recovery in the global industrial world (where silver is used in photography, appliances, and production processes) and its rising value as a monetary metal.

"Demand for silver coins, such as the American eagle silver dollar, has overwhelmed producers.
 
"The use of silver in industrial applications fell to 447.2 million ounces in 2008, down from 453.5 million ounces the year before, according to The Silver Institute, a nonprofit industry group.
 
"A good play on silver is Hecla Mining, the oldest U.S.-based precious metals mining company in North America and the largest producer of silver in the United States. 

"Headquartered in Coeur d’Alene, Idaho, Hecla owns the Lucky Friday mine in Idaho and recently acquired 100% ownership of the sixth-largest silver mine in the world, the Greens Creek joint venture in Alaska. 
 
"This transaction has dramatically increased Hecla’s annual silver production in 2009. Hecla is expected to produce 10.5 to 11 million ounces this year, while at the same time sharply reducing its cash cost per ounce of silver by a third to less than $3.00 per ounce of silver. 

"Hecla should be highly profitable as it enters 2010, a big turnaround (it lost $80 million in 2008). CEO Phillips S. Baker, Jr., states, 'If prices for metals remain at their current levels, we should generate substantially more operating cash flow this year than anytime in Hecla’s hundred year history.'
 
"In fact, revenues rose 35% to $74 million in the most recent quarter ended June 30. In our view, it’s time to look at silver. Let’s buy Hecla Mining."