5 Best Silver Mining Stocks To Buy Today

In this article, we will discuss the 5 Best Silver Mining Stocks to Buy Today. If you want to read our analysis of the silver market, you can head on to the 10 Best Silver Mining Stocks to Buy Today.

5. MAG Silver Corp. (NYSE:MAG)

Number of Hedge Fund Holders: 12

Headquartered in Canada, MAG Silver Corp. (NYSE:MAG) is involved in development and exploration activities. The company is concerned with securing access to district-scale projects, mainly in the Americas, and exploring and developing mines. Its primary business comes from the Juanicipio Project, located in Mexico.

The construction work and upgradation of the electric grid systems were completed last month on the company’s Juanicipio Project. MAG Silver Corp. (NYSE:MAG) is expected to ramp up production at the site during Q4 2022. MAG Silver Corp. (NYSE:MAG) owns a 44% stake in Juanicipio Mine, and the site is expected to produce over 11 million oz of silver and 44k oz of gold annually.

MAG Silver Corp. (NYSE:MAG) output of silver and gold will increase significantly in 2023 with the addition of the production from the mine, which can prove to be a catalyst for earnings growth for the company. The stock of the company is down 19.6% YTD as of October 20, 2022, which presents an attractive entry point for long-term holders as the company ramps up production in 2023 to become a significant silver mining company.

Sprott Asset Management held the highest stake in MAG Silver Corp. (NYSE:MAG) at the end of the June quarter, with an investment value of approximately $62 million in the company. 12 hedge funds are currently bullish on MAG Silver Corp. (NYSE:MAG) as per Insider’s Monkey database.