In this article, we will discuss: 11 Best Silver Mining Stocks to Buy According to Hedge Funds.
Silver mining stocks are ownership in firms that explore, develop, and produce silver. These businesses mine silver from the earth, frequently along with other metals, including zinc, lead, and gold.
HSBC raised its projection for the price of silver on August 8th, citing the strength of gold and geopolitical unpredictability as major factors. According to the bank, average silver prices will rise from $30.28 to $35.14/oz in 2025, from $33.96 to $26.95 in 2026, and from $28.30 to $31.79 in 2027. According to HSBC, spot gold, which is up 29% so far this year and reached a record $3,500/oz in April, has brought silver under a “strong gravitational pull.” The increase is “due more to silver’s relationship with gold than (to) underlying fundamentals.”
Industrial silver demand is expected to decline in 2025, following four years of record growth, but is anticipated to rebound in 2026, driven by the photovoltaic and electronics sectors. On the other hand, demand for jewelry and silverware is expected to decline due to high prices, but previous solid purchases have already restrained coin and bar sales. As per HSBC, the silver deficit would rise from 167 million ounces in 2024 to 206 million ounces in 2025 before falling to 126 million ounces in 2026.
With that said, here are the 11 Best Silver Mining Stocks to Buy According to Hedge Funds.
An aerial view of the 1,840 mineral claims spread out over a 274 square mile area for the Pebble Copper-Gold-Molybdenum-Silver-Rhenium project.
Our Methodology
We sifted through ETFs and online rankings to form an initial list of the 11 Best Silver Mining Stocks to Buy According to Hedge Funds. From the resultant dataset, we chose 11 stocks with the highest number of hedge fund investors, using Insider Monkey’s database of 1000 hedge funds in Q2 2025 to gauge hedge fund sentiment for stocks. We have used the stock’s market cap as of August 31 as a tie-breaker in case two or more stocks have the same number of hedge funds invested.
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11. Endeavour Silver Corp. (NYSE:EXK)
Number of Hedge Fund Holders: 14
Endeavour Silver Corp. (NYSE:EXK) produced 2.5 million silver equivalent ounces in Q2 2025, a 13% increase over the previous year. The business sold 1,455,680 ounces of silver at $32.95 and 7,706 ounces of gold at $3,320, bringing in $85.3 million, a 46% increase in revenue. Operating cash flow from the mine surged 21% to $22.9 million, although costs stayed favorable at $15.35/oz in cash costs and $25.16/oz AISC. It had $52.5 million in cash at the end of the quarter.
The company expanded the Terronera credit facility from $120 million to $135 million and completed the $50 million acquisition of Minera Kolpa, advancing strategic ambitions. Production was raised by Kolpa’s integration and Terronera, which achieved 1,900-2,000 tpd throughput and recovery rates of 71% silver and 67% gold in late July, approaching commercial output despite commissioning losses. Endeavour Silver Corp. (NYSE:EXK) also started using Versamet to service its $35 million copper stream. Dan Dickson, the CEO, highlighted the company’s improved production base and methodical capital management while stressing operational efficiency and growth momentum. It is one of the Best Silver Mining Stocks.
10. Silvercorp Metals, Inc. (NYSE:SVM)
Number of Hedge Fund Holders: 15
Market Cap as of August 31: $1.06 billion
Silvercorp Metals, Inc. (NYSE:SVM) analyst Joe Reagor of Roth Capital increased the firm’s price target from $6.25 to $6.75 on July 1 and maintained a Buy recommendation on the shares. The analyst tells investors in a research note that the company is upgrading its model on miners after increasing its projected gold pricing. The average gold price per ounce is estimated to be $3,294 for Q2, $3,300 for Q3, and $3,150 for Q4 2025.
Silvercorp Metals, Inc. (NYSE:SVM) is a mineral exploration company that acquires, explores, develops, and mines mineral properties. The company’s producing mines are in China, and it has exploration and development projects in both China and Ecuador. Its portfolio of projects includes the Condor gold project in Ecuador and the El Domo copper-gold project. It also operates many silver-lead-zinc mines in China, including the GC mine in Guangdong Province and the Ying Mining District in Henan Province. The sale of silver concentrates accounts for the majority of the company’s revenue. Its reportable operating areas are the Ying Mining District and GC Mine in China, which generate the most revenue, as well as the El Domo and Condor projects in Ecuador. It is among the Best Silver Mining Stocks.
9. Compañía de Minas Buenaventura S.A.A. (NYSE:BVN)
Number of Hedge Fund Holders: 15
Market Cap as of August 31: $4.86 billion
Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) reported strong second-quarter 2025 results, with EBITDA from direct operations jumping to $130.1 million from $107.2 million in the second quarter of 2024. Net income also went up to $98.2 million from $74.4 million in the previous year. EBITDA was $256.4 million and net income was $245.2 million for the first half of 2025, both of which were significantly higher than the same period the previous year. The business reported a leverage ratio of 0.56x, net debt of $271.7 million, and cash of $588.5 million. The remaining $149 million in 2026 notes issued by Buenaventura were similarly repaid on July 23, 2025.
The operational outcomes were mixed. El Brocal’s restart caused copper production to surge by 28% year over year. However, reduced production at Orcopampa and Tambomayo resulted in a 11% decline in silver output and a 19% drop in gold production. Lead output increased 2% while zinc production shot up by 22%. Buenaventura invested $82.2 million in mining and plant development to move on with its San Gabriel project. Furthermore, Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) started selling Cerro Verde’s copper concentrate, selling 20k WMT in 2Q25 out of the approximately 40k WMT anticipated for the year. It is ranked ninth on our list of the Best Silver Mining Stocks.
8. First Majestic Silver Corp. (NYSE:AG)
Number of Hedge Fund Holders: 21
First Majestic Silver Corp. (NYSE:AG) reported positive exploration results from its San Dimas Silver/Gold Mine in Durango, Mexico, following expanded drilling efforts. The program intersected high-grade silver and gold mineralization close to underground development with the goal of finding new veins and upgrading Inferred to Indicated Mineral Resources. The West Block’s recently discovered Coronado vein produced a noteworthy high-grade intercept, showcasing the possibility of finding new mineral resources. Veins at Elia, Sinaloa, Roberta, and Santa Teresa also yielded promising findings. President and CEO Keith Neumeyer pointed out San Dimas as a key asset, citing “untapped potential” in previously mined but undiscovered areas.
San Dimas is a major section of First Majestic Silver Corp. (NYSE:AG)’s long-term expansion strategy and one of its major working mines. Its standing as a superior asset is further supported by the 2025 drilling campaign, as extensions at several veins show potential for resource expansion. The mineralization profile of the district is further improved by the discovery of the Coronado vein. It is among the Best Silver Mining Stocks.
7. McEwen Inc. (NYSE:MUX)
Number of Hedge Fund Holders: 22
Market Cap as of August 31: $624.93 million
McEwen Inc. (NYSE:MUX) reversed a $13.0 million loss in Q2 2024 with a Q2 2025 net income of $3.0 million. Gross profit climbed to $12.3 million on a 26% margin, while adjusted EBITDA increased from $7.2 million to $17.3 million. Revenue reached $46.7 million from 14,549 GEOs, with an average realized gold price of $3,298 per GEO. Cash and equivalents climbed to $53.6 million, with working capital at $61.8 million, up from -$6.5 million at the end of 2024.
Consolidated output, including the 49%-owned San José Mine, was 27,554 GEOs, with expenses per GEO of $1,906 cash and $2,120 AISC, slightly higher than Q2 2024. Production increases during H2 2025 are expected to reduce unit costs. McEwen Inc. (NYSE:MUX)’s subsidiary McEwen Copper spent $7.0 million on the Los Azules Feasibility Study, which will capture future development expenditures, and $5.4 million on exploration throughout Grey Fox, Gold Bar, Lookout Mountain, and Windfall. The Froome West and Stock mining ramp developments are advanced by Fox Complex. There were no lost-time events, showing continued high safety. The full-year guidance, which supports the firm’s objective to increase gold and silver production by 2030, is reiterated at 120,000-140,000 GEOs. It is one of the Best Silver Mining Stocks.
6. SSR Mining Inc. (NASDAQ:SSRM)
Number of Hedge Fund Holders: 22
Market Cap as of August 31: $3.91 billion
SSR Mining Inc. (NASDAQ:SSRM) produced 120,191 gold equivalent ounces at an AISC of $2,068/oz, which led to the company’s record Q2 2025 net income of $90.1 million ($0.42/share) and adjusted net income of $110.1 million ($0.51/share). Liquidity was $912.1 million, which included $412.1 million in cash, while operating cash flow was $157.8 million with $98.4 million in free cash flow. The notable contribution of 44,062 ounces of gold at an AISC of $1,339/oz by CC&V resulted in mine site free cash flow of about $85 million during its first full quarter under SSR Mining Inc. (NASDAQ:SSRM).
The firm maintained its 2025 gold equivalent ounce projection of 410,000-480,000. There is currently no restart schedule for Çöpler, and reclamation expenses climbed by $12.9 million, bringing the total remediation estimates to $262.9-312.9 million. The anticipated 2026 silver output at Puna is 7-8 million ounces, which exceeds previous forecasts, extending the mine’s life. Furthermore, Hod Maden made progress, spending $16.2 million in Q2, which set up SSR Mining Inc. (NASDAQ:SSRM) for long-term portfolio expansion. It is ranked sixth on our list of the Best Silver Mining Stocks.
5. Fortuna Mining Corp. (NYSE:FSM)
Number of Hedge Fund Holders: 24
Market Cap as of August 31: $2.37 billion
Fortuna Mining Corp. (NYSE:FSM) announced new drilling findings from the Kingfisher and Sunbird deposits at its Séguéla Mine in Côte d’Ivoire on August 18, 2025. Highlights at Kingfisher included 4.5 g/t Au across 37.4 meters from 79 meters in hole SGRD2363. Mineralization was verified up to 250 meters along strike and 300 meters below the surface. Results at Sunbird showed 2.1 g/t Au over 8.4 meters and 5.6 g/t Au over 4.9 meters, as well as 11.2 g/t Au over 5.6 meters and 8.5 g/t Au over 7.0 meters from 566 meters in hole SGRD2431.
Paul Weedon, SVP of Exploration, stated that the Kingfisher infill program extended depth and strike potential while confirming broad mineralization. The results show that mineralization is still accessible both at depth and along strike, supporting the mine’s long-term expansion potential. Sunbird drilling is also continuing to develop the mineralized envelope and boost geological confidence. It is among the Best Silver Mining Stocks.
4. MAG Silver Corp. (NYSE:MAG)
Number of Hedge Fund Holders: 24
Market Cap as of August 31: $2.54 billion
Pan American Silver Corp. and MAG Silver Corp. (NYSE:MAG) announced on August 25, 2025, that Pan American’s purchase of all outstanding MAG Silver Corp. (NYSE:MAG) shares was authorized by Mexico’s Federal Economic Competition Commission, or COFECE. The acquisition is anticipated to close on September 4, 2025, after obtaining all necessary regulatory, shareholder, and judicial approvals. MAG Silver Corp. (NYSE:MAG) shareholders must vote by August 27, 2025, for either $20.54 in cash per share or the default of $0.0001 in cash plus 0.755 Pan American shares, subject to proration, with the total consideration limited to $500 million in cash and the remainder in Pan American shares.
Pan American, a prominent producer of gold and silver with operations throughout the Americas, is growing as a result of this deal. MAG Silver Corp. (NYSE:MAG) is recognized for owning a 44% share in the Juanicipio Mine in the Fresnillo Silver Trend in Mexico. The company also has exploration properties in Utah and the Abitibi region of Canada. The purchase provides growth assets in important mining jurisdictions and unifies Pan American’s silver portfolio. It is one of the Best Silver Mining Stocks.
3. Hecla Mining Company (NYSE:HL)
Number of Hedge Fund Holders: 34
Roth Capital elevated its price objective for Hecla Mining Company (NYSE:HL) from $6 to $6.50 on August 7, 2025, while maintaining a Neutral rating. According to the firm’s analyst, Q2 2025 outcomes showed exceptional quarterly performance and exceeded all expectations. Although Hecla Mining Company (NYSE:HL) confirmed its silver production guidance and made a minor upward revision to its gold production guidance for the year, Roth warned that the second quarter might be a peak for the company.
Hecla Mining Company (NYSE:HL)’s stronger-than-expected Q2 results prompted the slight price target revision, although Roth Capital’s Neutral rating reflects restrained confidence. The miner signals a modest rise in gold production, but it continues to steer a stable output of silver, which is a key component of its operation. Despite recent operational improvement, the firm believes there is limited near-term upside, with future performance dependent on continued production delivery. A cautious outlook for 2025 counterbalances the improved quarterly performance reflected in the revised target of $6.50. It is among the Best Silver Mining Stocks.
2. Pan American Silver Corp. (NYSE:PAAS)
Number of Hedge Fund Holders: 41
Pan American Silver Corp. (NYSE:PAAS) will sell its 80% stake in the La Pepa Project to Mineros S.A. for $40 million on August 11, 2025, granting Mineros complete ownership. The current joint venture between the firms will end as a result of the agreement, which is structured through the purchase of all shares of Minera Cavancha SpA. The deadline for closing is September 30, 2025, at the latest. According to CEO David Londoño, the action increases Mineros’ exposure to Chile, a crucial mining jurisdiction, and solidifies the company’s growth pipeline.
According to estimations made on October 31, 2021, the La Pepa Project in Chile’s Maricunga Gold Belt contains substantial resources, including 1.15 million oz Au (Measured), 1.04 million oz Au (Indicated), and 366 koz Au (Inferred). Drilling programs verified high mineralization continuity, which was intended as an open-pit heap-leaching operation. Mineros is planning to conduct a preliminary economic assessment to determine feasibility based on the 2021 Mineral Resource estimate, assuming a long-term gold price of $1,650/oz. It is ranked second on our list of the Best Silver Mining Stocks.
1. Coeur Mining, Inc. (NYSE:CDE)
Number of Hedge Fund Holders: 44
Roth Capital upgraded Coeur Mining, Inc. (NYSE:CDE)’s price target to $13 from $12 on August 7, while retaining a Buy rating, following better-than-expected Q2 2025 results. The business produced another “strong” quarter, according to analyst Joe Reagor, with performance just beyond the company’s projections. He also stated that the firm’s financial achievements reinforced its balance sheet, setting the miner up for greater production expansion in the second half of the year.
The upward revision follows Coeur Mining, Inc. (NYSE:CDE)’s Q2 performance, which showed consistent operational momentum and was above Roth Capital’s expectations. Reagor noted that these outcomes have strengthened the company’s balance sheet, strengthening investor trust and financial flexibility. The company is viewed as being in a strong position to maintain growth, with additional production improvements predicted in H2 2025. It is the Best Silver Mining Stock.
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