8 Best Silver Mining Stocks to Buy

6. Fortuna Mining Corp (NYSE:FSM)

Stock Upside Potential: 33.82%

Number of Hedge Fund Holders: 32

Fortuna Mining Corp (NYSE:FSM) is one of the best silver mining stocks to buy. The stock has gained around 58% over the past year.

On April 17, Fortuna Mining Corp (NYSE:FSM) detailed plans to repurchase up to 5% of its outstanding shares under a fresh buyback program. This program will commence on May 4, 2026, and remain in effect until May 3, 2027. During this period, Fortuna plans to buy back around 15.2 million shares of its stock.

The repurchased shares will be canceled, the management said. This is in keeping with the practice under Fortuna’s previous buyback program that is due to expire on May 1. Under the previous program, Fortuna bought back 3.4 million shares and subsequently canceled them.

While announcing the fresh buyback program, Fortuna noted that sometimes its shares trade at prices that do not reflect their underlying value. In light of this, the company’s board is convinced that buying back shares for cancellation would be a good use of corporate funds.

Fortuna exited 2025 with $704.0 million in total liquidity. That included $381.5 million in net cash, which increased sharply from $58.8 million at the end of 2024.

Notably, Fortuna’s fresh buyback program comes when the company’s cash position has strengthened and mineral reserves increased. At the end of March 2026, Fortuna’s proven and probable mineral reserve stood at 3.0 million gold equivalent ounces, representing a 15% YoY increase.

Fortuna Mining Corp (NYSE:FSM), based in Canada, is a precious metals mining company operating in several countries in America and Africa. It has projects in Argentina, Côte d’Ivoire, Peru, and Senegal. The company was founded in 2005, and it was previously known as Fortuna Silver Mines Inc.

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