Shares of London-based Hochschild Mining, the second largest silver producer company in the world, closed Wednesday up 5.91 percent to £523.50 ($829.24), solidly outpacing the day's rise in the price of silver.

The most actively traded silver contract on the Comex rose 2.13 percent to $33.81 in late-afternoon trading. Precious metals prices showed strong growth in the month of January, with silver prices alone rising approximately 19 percent on positive economic news.

Hochschild's gains exceeded those of its rivals and the broader equity markets.

Shares of Silver Wheaton, a major silver-streaming company, rose 2.27 percent to $36.42 by late-afternoon trading, shares of silver miner Thor Industries rose 1.04 percent to $30.98, while shares of silver miner Pan American Silver rose 2.88 percent to $23.55.

The Dow Jones Industrial Average rose 0.84 percent to 12,738.75 in late-afternoon trading, while the Nasdaq rose 1.18 percent to 2,847.00 and the S&P 500 rose 1.04 percent to 1,326.03.

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