"I think an excellent way to profit from higher silver prices is to buy Silver Standard Resources (NASDAQ: SSRI)," says Jim Powell in Growth Stock Alert. Here's his new buy.

"Unlike gold mining companies, of which there are dozens, there are only five major publicly-traded silver producers. The limited number of investment options concentrates Wall Street's interest when silver is hot, and can send prices sharply up.

"Silver Standard controls the world's largest published in-ground silver resources of any publicly-traded silver company. The company has properties in Argentina, Mexico, Chile, Peru, Canada, the U.S. and Australia. All
properties have either been purchased (a rarity in the mining industry) or optioned at a fraction of the current
silver price.

"In an industry where most silver is found as a by-product from mining other metals, it is also significant that the company's output is approximately 72% silver. The remaining metals produced are gold, tin, zinc, copper and lead - none of which is more than 8% of the total output.

"Silver Standard's status as a pure-play further concentrates interest in the company when silver is in the spotlight. Silver Standard is also leveraged by the high cost of extracting the metal.

"Once silver prices cross the breakeven point, nearly every dollar goes to profits. Silver Standard must be considered speculative. But if you are willing to accept the risk, and a probable roller coaster ride, the stock could be very rewarding."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.