Vizsla (VZLA): Analyst Downgrade Amid Security Concerns, Long-Term Growth in Focus

Vizsla Silver (NYSEAMERICAN:VZLA) is one of the best silver stocks to watch for in 2026, with more than 80% upside potential—the highest on our list. On March 5, Vizsla Silver (NYSEAMERICAN:VZLA) confirmed the death of two additional workers with three still missing, following an attack in the Mexican state of Sinaloa.

In late January, 10 of the company’s workers were abducted from the Panuco project in Mexico. The 10 were kidnapped from a silver miner in an area under the control of “Los Chapitos,” a faction of the Sinaloa cartel.

The attack has already prompted analysts at National Bank Financial to downgrade the stock to Sector Perform from Outperform. The downgrade comes amid concerns that insecurity in one of the company’s key silver mines poses significant risks to its outlook.

The attack has also forced a change of focus to supporting the affected people and collaborating with government agencies. Initially, Vizsla had priced a $250 million of convertible senior notes. The company plans to use net proceeds from the offering to finance exploration and development works at the Panuco project.

Vizsla Silver Corp. (NYSEAMERICAN:VZLA) is a Canadian mineral exploration and development company focused on advancing its 100%-owned Panuco silver-gold project in Sinaloa, Mexico, toward production. The company is developing what is considered a high-grade, large-scale, and potentially world-class district-scale asset, aiming for first production in late 2027.

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