In this article, we take a look at the 12 Best Silver Mining Stocks to Invest in Right Now.
Silver is an important metal. On the one hand, it is a precious metal because it is relatively rare and has monetary value. On the other hand, the metal has certain properties that make it valuable in many high‑tech and power applications. It is used in electronics, solar panels, automotive systems, medical applications, and specialized brazing/soldering.
In fact, silver’s usefulness in critical industries is one of the factors that Philip Newman, Managing Director at Metals Focus, cited as drivers for record prices this year. Newman noted during a presentation at the Silver Institute’s Annual Silver Industry Dinner in New York on November 13 that silver prices hit several record highs this year and had gained 67% year to date as of November 6. This performance far outpaces the 14% gain recorded by the S&P 500 in the same timeline. But Newman sees a problem: his organization’s – Metals Focus – estimates show that 2025 is the fifth consecutive year that the silver market is in deficit. Yet global supply will rise by only 1% by year-end 2025.
Be that as it may, investors see the dynamics as a great buying opportunity for silver-linked equities, particularly those mining for the metal. Data shows that by November 6, holdings of silver-backed exchange traded products (ETPs) had grown by about 18%. At the same time, the Nasdaq Sprott Silver Miners Index, which tracks silver-linked equities, is up 118.54% year to date as of November 20, 2025. This growth dwarfs the S&P 500’s 12.93% gain in the same period.
Against this backdrop, this article presents some of the best silver mining stocks to invest in right now.
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Our Methodology
To identify the best silver mining stocks to invest in right now, we reviewed a wide range of US-listed silver mining companies using data from various ETFs, the Finviz stock screener, CNN, and the Wall Street Journal. From that group, we selected stocks with a positive upside potential as of November 25 and also factored in hedge fund ownership based on Q2 2025 13F filings. The final list is ranked according to each stock’s projected upside.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Best Silver Mining Stocks to Invest in Right Now
12. Hecla Mining Company (NYSE:HL)
Stock Upside Potential: 3.36%
Number of Hedge Fund Holders: 34
Hecla Mining Company (NYSE:HL) is one of the best silver mining stocks to invest in right now. Early in November, BMO Capital’s Kevin O’Halloran lifted his price target on Hecla Mining Company (NYSE:HL) from $12 to $13.50 while keeping a Market Perform rating. His update came on the heels of a notably strong third quarter. According to O’Halloran, all four of Hecla’s operations outperformed expectations, and firmer metal prices gave the company’s results an additional boost.
On November 5, 2025, Hecla posted what it called record third-quarter figures. Strong silver prices, backed by tight cost control across the business, helped the company generate $409.5 million in revenue. Net income came in at $100.6 million, or $0.15 per share—comfortably ahead of what analysts were looking for. Adjusted EBITDA climbed to an all-time high of $195.7 million. Operating cash flow reached $148 million, and free cash flow landed at $90.1 million, both reflecting the company’s solid financial footing.
Hecla produced 4.6 million ounces of silver during the quarter. All-in sustaining costs averaged $11.01 per ounce, while by-product credits brought cash costs down to an impressive negative $2.03 per ounce. Silver made up nearly half of total revenue (48%), with gold contributing 37%, lead 10%, and zinc 6%. The company realized an average silver price of $42.58 per ounce, translating into margins of more than $31 per ounce. This strength allowed Hecla to reduce leverage to 0.3x and fully pay down its revolving credit facility. All four of its mines generated positive free cash flow, underscoring the resilience of its portfolio.
Looking ahead to 2025, Hecla tightened its production guidance and lowered its cost outlook. Long mine lives at Lucky Friday, Keno Hill, Greens Creek, and Casa Berardi provide a stable foundation for the company’s multi-metal production profile.
Hecla Mining Company (NYSE:HL) produces precious and base metals across the United States, Canada, Japan, Korea, and China. Its operations focus on silver, gold, lead, and zinc, along with carbon materials and doré for smelters, traders, and processors. The company’s flagship asset is the Greens Creek mine on Admiralty Island in southeast Alaska.
11. Fortuna Silver Mines Inc. (NYSE:FSM)
Stock Upside Potential: 10.78%
Number of Hedge Fund Holders: 24
Fortuna Silver Mines Inc. (NYSE:FSM) is one of the best silver mining stocks to invest in right now. On November 6, Scotiabank analyst Eric Winmill reaffirmed a Sector Perform rating on Fortuna Silver Mines Inc. (NYSE:FSM) stock, and kept the $10.50 price target.
Independently of the analyst action, on November 18, Fortuna reported a double-digit increase in gold reserves and a substantial boost to its resource inventory at its Séguéla Mine in Côte d’Ivoire. According to the company, proven and probable mineral reserves now total 1.2 million ounces of gold, an 11% increase compared to the estimate from December 31, 2024. The company also reported a 100% increase in indicated mineral resources (exclusive of reserves) to 794,000 ounces and a 15% increase in inferred mineral resources to 712,000 ounces. Fortuna stated that the resource expansion was due to exploration success across several deposits.
Commenting on the update, Jorge A. Ganoza, President and CEO, highlighted that the results are strategically important. “Continued exploration success over the last two years has created a clear pathway to not only extend the life of mine at Séguéla, but also to evaluate a further plant expansion and a potential increase in annual gold production,” he stated.
Ganoza added that the mine now holds its largest Mineral Resource inventory on record, and the company has initiated “aggressive infill drilling programs” and “advanced underground mining studies” to capture this value.
Fortuna Silver Mines Inc. (NYSE:FSM) is a Canadian precious metals mining company. It acquires, explores, develops, and operates silver and gold mines, with core assets including the San Jose underground silver-gold mine in Oaxaca, Mexico and the Caylloma silver mine in Peru.
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