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.
7. Pan American Silver Corp. (NYSE:PAAS)
Stock Upside Potential: 19.34%
Number of Hedge Fund Holders: 41
Pan American Silver Corp. (NYSE:PAAS) is one of the best silver mining stocks to invest in right now. On November 19, RBC Capital reiterated a Buy rating for Pan American Silver Corp. (NYSE:PAAS) and set a $45 price target. The update follows the company’s strong Q3 2025 performance, which featured record free cash flow.
During the quarter, the company’s revenue of $854.6 million missed the expected $860.78 million. Likewise, the adjusted EPS came in at $0.48, missing the $0.51 analyst estimates. But the misses aside, the company’s free cash flow hit a record $251.7 million. According to management, this surge came on the back of the integration of high-margin production from the newly acquired Juanicipio mine and strong metal prices.
Regarding operations, the company produced 5.5 million ounces of silver and 183,500 ounces of gold during the quarter. Management noted that while silver output benefited from a one-month contribution from the Juanicipio acquisition, gold production was slightly softer due to technical issues at the Cerro Moro and El Peñon mines.
And confident in its cash generation, the Board increased the quarterly dividend by approximately 16% to $0.14 per share. Management also lifted its full-year 2025 silver production guidance to 22.0–22.5 million ounces, citing the immediate positive impact of the Juanicipio integration.
Pan American Silver Corp. (NYSE:PAAS) is a Canadian mining company that acquires, explores, develops, and operates silver and gold mines throughout the Americas. Its main products are silver bullion and gold bullion extracted from high-grade underground and open-pit mines.
10. SSR Mining Inc. (NASDAQ:SSRM)
Stock Upside Potential: 20.58%
Number of Hedge Fund Holders: 22
SSR Mining Inc. (NASDAQ:SSRM) is one of the best silver mining stocks to invest in right now. On November 24, Bank of America Securities (BofA) lowered the price target on SSR Mining Inc. (NASDAQ:SSRM) stock to $18 from $18.70 while keeping an Underperform rating.
This action was part of BofA’s wider update to forecasts for North American metals and mining companies under coverage. The analysts described the overall conditions in the mining sector as “tough” due to slower demand for commodities in China. This, the firm stated, puts pressure on prices and operations, though this could get balanced out by stronger buying in the US and Europe as economies there pick up.
In a separate update, SSR Mining reported Q3 2025 earnings on November 4 and revenue came in at $385.8 million, a 50% increase from Q3 2024. According to management, the growth was due to the February 2025 acquisition of the Cripple Creek & Victor (CC&V) mine, which contributed $98.2 million in sales, alongside higher realized metal prices across its diversified portfolio of gold, silver, copper, lead, and zinc.
SSR Mining Inc. (NASDAQ:SSRM) is a diversified precious metals producer. The company’s Puna mine in Argentina is one of the largest primary silver mines in the world. Besides Puna, the company maintains exposure to silver through royalties and development projects such as Pitarrilla in Mexico.
9. Skeena Resources Ltd. (NYSE:SKE)
Stock Upside Potential: 26.41%
Number of Hedge Fund Holders: 14
Skeena Resources Ltd. (NYSE:SKE) is one of the best silver mining stocks to invest in right now. On November 19, RBC Capital reiterated an Outperform rating on Skeena Resources Ltd. (NYSE:SKE) and kept the price target unchanged at C$34.
Independently of the analyst action, Skeena released its Q3 2025 results on November 14 where it stated that it did not generate any revenue. Management explained that the company is still in the pre-production stage and all spending during the quarter went to development rather than sales. The net loss improved to C$36.8 million from C$84.9 million in Q3 2024, driven by lower exploration costs as drilling focused on efficient resource upgrades instead of broad expansion, as noted by management. However, the company missed the tighter consensus of C$0.06 loss due to rising admin expenses from equity incentives.
During the quarter, assets grew to C$647.2 million from C$274.4 million at year-start, led by C$437.7 million in mineral properties (up from C$144.2 million) as Eskay investments ramped. Also, operating cash use dropped to C$17.8 million from C$41.0 million, thanks to C$48.9 million non-cash derivative gains and reduced fieldwork, according to management.
Skeena Resources Ltd. (NYSE:SKE) is a Canadian mining exploration and development company, mainly targeting silver. The company is advancing Eskay Creek toward production through open-pit development, and is progressing the Snip Project, another past-producing high-grade mine.
8. Silvercorp Metals Inc. (NYSE:SVM)
Stock Upside Potential: 31.25%
Number of Hedge Fund Holders: 15
Silvercorp Metals Inc. (NYSE:SVM) is one of the best silver mining stocks to invest in right now. On November 10, Roth MKM analyst Joseph Reagor reaffirmed a Buy rating for Silvercorp Metals Inc. (NYSE:SVM) and set a price target of $8.25 per share.
Four days earlier, Silvercorp reported its Q2 2026 earnings, where revenue grew by 23% year-over-year to $83.3 million. Management explained that the revenue growth was fueled by a 28% increase in realized silver prices and a 37% jump in gold prices. However, this figure slightly missed analyst consensus estimates, which were targeted around $84 million. The company reported a net loss of $11.5 million ($0.05 per share), a sharp decline from the $17.7 million in the same period last year. This loss was triggered by a $53.2 million non-cash charge related to the “mark-to-market” valuation of convertible notes, noted management.
During that quarter, Silvercorp produced 1.7 million ounces of silver and 2,085 ounces of gold. However, management cautioned, production costs ticked higher, with cash costs per ounce of silver equivalent rising to $0.002 (compared to negative $0.73 last year) as the volume of ore processed increased by 15%. As such, the company is proceeding with its fiscal 2026 production guidance, which anticipates processing between 1.33 and 1.37 million tons of ore.
Silvercorp Metals Inc. (NYSE:SVM) is a Canadian mining company. It acquires, explores, develops, and operates silver-lead-zinc mines, primarily in China’s Ying Mining District and the GC Mine in Guangdong Province. Its main products are silver, lead, and zinc concentrates, with gold as a smaller by-product.
6. McEwen Mining Inc. (NYSE:MUX)
Stock Upside Potential: 37.58%
Number of Hedge Fund Holders: 22
McEwen Mining Inc. (NYSE:MUX) is one of the best silver mining stocks to invest in right now. On November 7, H.C. Wainwright maintained a Buy rating and a $21.50 per share price target on McEwen Mining Inc. (NYSE:MUX) stock. The analyst, Heiko Ihle, rested his thesis on McEwen’s steps toward growth and building value, driven by high metal prices and wins in exploration work. Ihle sees the company making good use of current strong gold and silver prices to improve cash flow, even with some dips in output, and likes how ongoing drilling at key sites sets up bigger production down the line.
Separately, McEwen reported Q3 2025 earnings on November 6 in which it posted $50.5 million in total revenue. This figure undershot analyst estimates by 23.55%, with management attributing this to lower production volumes that reduced gold equivalent ounces (GEOs) sold to 14,968 from 21,350 a year earlier. As a result, the company recorded a net loss of $500,000 ($0.01 per share), which is still an improvement from the $2.1 million loss in Q3 2024. Management noted that higher metal prices cushioned the impact of operational shortfalls.
McEwen Inc. (formerly McEwen Mining Inc. (NYSE:MUX)) is a Canadian-headquartered mining company focused on precious metals, particularly gold and silver, and also copper. The company has production, development, and exploration projects across Argentina, Mexico, and the United States.
5. Endeavour Silver Corp. (NYSE:EXK)
Stock Upside Potential: 38.30%
Number of Hedge Fund Holders: 14
Endeavour Silver Corp. (NYSE:EXK) is one of the best silver mining stocks to invest in right now. On November 10, Alliance Global Partners raised its price target for Endeavour Silver Corp. (NYSE:EXK) to $7.75 from $6 and maintained a Buy rating on the stock. The firm’s decision is based on what it described as Endeavour’s mixed Q3 2025 earnings report.
In the Q3 2025 earnings report, Endeavour reported $111 million in revenue, which is 109% higher than Q3 2024. The growth was driven by record silver sales and higher metal prices. However, this fell short of analyst estimates by 9.32%. EPS also undershot expectations by 131.85% – the reported EPS was -$0.01 against the projected $0.0314.
Silver production soared 102% to 1.77 million ounces, thanks to the new contribution from the Kolpa mine and higher throughput at Guanaceví, noted management. However, gold production dropped 22% to 7,285 ounces due to lower grades at Bolañitos.
Commenting on the earnings, CEO Dan Dickson described the quarter as “transformational” but acknowledged the short-term financial noise. To him, the derivative losses, while hurting reported earnings, are a non-cash reflection of the company’s hedging strategy in a rising price environment.
Endeavour Silver Corp. (NYSE:EXK) is a Canadian mid-tier precious metals mining company. It engages in the acquisition, exploration, development, extraction, processing, and refining of mineral properties, primarily in Mexico and Peru. Its main products are silver bullion and gold bullion.
4. First Majestic Silver Corp. (NYSE:AG)
Stock Upside Potential: 43.88%
Number of Hedge Fund Holders: 21
First Majestic Silver Corp. (NYSE:AG) is one of the best silver mining stocks to invest in right now. On November 6, H.C. Wainwright maintained a Buy rating for First Majestic Silver Corp. (NYSE:AG) and also kept its target price for the shares at $17.50 per share. The firm explained that its decision is due to a combination of factors, including robust Q3 2025 financial results and First Majestic’s strategic acquisitions.
Speaking of the Q3 2025 earnings, First Majestic released the report on November 5, in which revenue surged 95% year-over-year to $285.1 million. Management explained that 56% of this income came from silver sales. Despite the record growth, the revenue missed expectations by 8.58%. The EPS was a miss as well; adjusted EPS came in at $0.07, falling short of the expected $0.11.
According to management, the impressive revenue growth was due to unprecedented silver output. The company produced 3.9 million ounces of silver, a 96% increase compared to the 2.0 million ounces produced in Q3 2024. And total production reached 7.7 million Silver Equivalent (AgEq) ounces, a 39% increase year-over-year from 5.5 million AgEq ounces.
First Majestic Silver Corp. (NYSE:AG) is a Canadian mining company focused on the acquisition, exploration, development, and production of silver and gold properties in North America. Its main products are silver bullion and gold bullion.
3. Coeur Mining, Inc. (NYSE:CDE)
Stock Upside Potential: 53.18%
Number of Hedge Fund Holders: 44
Coeur Mining, Inc. (NYSE:CDE) is one of the best silver mining stocks to invest in right now. On November 4, Coeur Mining, Inc. (NYSE:CDE) was one of the two top picks in the Materials Sector among analysts. Accordingly, BMO Capital analyst Kevin O’Halloran reiterated a Buy rating on the stock and maintained a price target of $23. Likewise, Roth MKM maintained a Buy rating, setting a price target of $20.
In a different update, Coeur Mining acquired New Gold Inc. on November 3. The all-stock transaction was valued at approximately $7 billion, and its finalization created a leading precious metals producer focused exclusively on North America. According to the company, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold share held. This exchange ratio implies a value of $8.51 per share, representing a 16% premium to New Gold’s closing price on October 31, 2025. Upon completion, existing Coeur shareholders will own approximately 62% of the combined entity, while New Gold shareholders will hold the remaining 38%.
Coeur Mining, Inc. (NYSE:CDE) is a US-based diversified precious metals producer. It acquires, explores, develops, and operates gold and silver mines across North America. Its main products are silver bullion and gold bullion.
2. Seabridge Gold Inc. (NYSE:SA)
Stock Upside Potential: 66.81%
Number of Hedge Fund Holders: 22
Seabridge Gold Inc. (NYSE:SA) is one of the best silver mining stocks to invest in right now. On November 12, Seabridge Gold Inc. (NYSE:SA) released its Q3 2025 financial results, in which it reported a widened net loss as it ramped up investment in its major exploration projects. Net loss touched $32.3 million ($0.32 per share) for the quarter, which is wider than the $27.6 million ($0.31 per share) posted in Q3 2025.
Seabridge invested a record $52.9 million in mineral interests this quarter, almost double the $28.1 million spent in Q3 2024. Management stated that this capex jump reflects their continued aggressive exploration and development, especially at major projects like Iskut (Snip North discovery) and KSM. As a result, net working capital stood at $83.2 million as of September 30, 2025, more than double the $37.8 million reported at December 31, 2024.
The company updated that regarding the KSM project, fieldwork and partnership discussions are ongoing. Also, court hearings on legal challenges to the project’s “substantially started” designation are now complete. This regulatory milestone is crucial for maintaining development timelines and legitimizing the $5.9 billion KSM asset, noted management.
Seabridge Gold Inc. (NYSE:SA) is a Canadian exploration and development company. The company is known for its massive gold, copper, and silver resources in North America. Its main products are gold bullion, copper concentrate, and significant silver reserves.
1. Gold Resource Corporation (NYSE:GORO)
Stock Upside Potential: 87.18%
Number of Hedge Fund Holders: 2
Gold Resource Corporation (NYSE:GORO) is one of the best silver mining stocks to invest in right now. On November 6, H.C. Wainwright reaffirmed a Buy rating for Gold Resource Corporation (NYSE:GORO) stock, and also kept the price target unchanged at $1.25 per share. The firm stated that Gold Resource shows clear signs of financial recovery shown in its Q3 2025 results, which include higher revenue and a smaller net loss than the year before. They pointed out that these changes come from big jumps in silver output at the Don David Gold Mine in Mexico, thanks to better ore quality and higher metal prices.
Two days earlier, on November 4, Gold Resource reported a net loss of $4.7 million ($0.03 per share) for Q3 2025, which was slightly below analyst expectations. Management explained that the miss was due mainly to reduced tons milled and lower gold equivalent ounces sold compared to the prior year. Nevertheless, year-over-year, total metal production rose for gold (1,646 ounces before payables, up from 944) and silver (453,057 ounces, up from 194,525).
Gold Resource Corporation (NYSE:GORO) is a gold and silver producer with operations centered on the Don David Gold Mine in Oaxaca, Mexico. Its flagship Arista underground polymetallic deposit produces gold and silver doré as well as copper, lead, and zinc concentrates that contain silver.
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