Best silver stocks to buy in 2022

Silver is one of the most popular commodities to invest in, and silver stocks offer exposure to the performance of companies engaged in the silver industry. Find out our top picks on this page.
Updated: Sep 23, 2022
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This page lists the top five silver stocks that money can buy right now and explains what makes them stand out from the competition. We discuss each company’s origins, business model, and prospects moving forward. Read on to get started.

What are the top silver stocks to buy?

The table below contains the five best silver stocks right now. Our analysts have been hard and work investigating the market and reviewing different companies, so you can rest assured that our picks are worth their weight in gold (sorry, silver).

#Stock symbolCompany nameTrade now
1MAGMAG Silver Corp.
2FRFirst Majestic Silver Corp.
3WPMWheaton Precious Metals
4NEMNewmont Corporation
5PAASPan American Silver Corp.
List selected by our team of analysts, updated 21 October 2021.

1. MAG Silver Corp. (NYSE: MAG)

Incorporated in 2003 and based in Vancouver, Canada, MAG is an explorer and developer of silver, gold, lead, and zinc mining properties. The company’s flagship project is its 44% stake in the Juanicipio project located in Mexico. The remaining 56% of the joint venture is owned by Fresnillo plc.

The company is now shifting into a production phase, announcing the first production of silver, gold, lead and zinc from Juanicipio in October 2020. Led by experienced President, CEO and Director, George Paspalas, MAG will be hoping the commissioning of the Juanicipio beneficiation plant can take things to the next level.

The key reason MAG is on our list is its recent market performance. Since the start of 2020, MAG has been something of a turnaround story, surging in value and delivering good returns for shareholders. Investors will be hoping this multi-billion dollar company can continue to deliver in the coming years.

2. First Majestic Silver Corp. (TSE: FR)

Founded in 1979 and based in Vancouver, Canada, the company was originally called First Majestic Resource Corp., though it changed its name in November 2006 to reflect a new focus on silver. Similar to MAG, First Majestic Silver is involved in the acquisition, exploration, development, and production of silver and gold properties in Peru, Mexico, Argentina, and Bolivia.

FR’s two main projects are the wholly-owned San Dimas Silver/Gold Mine – which covers an area of 71,839 ha – and Santa Elena Silver/Gold Mine – which covers an area of 102,172 ha. The company has numerous other assets throughout South America within its portfolio making it a diversified option for silver investors.

This level of diversity is the main reason First Majestic Silver is on our list. The company’s performance has been solid in the last five years, and if it can monetise more of its many assets, investors could be set for even greater returns. Currently, FR earns around $15 million per quarter.

3. Wheaton Precious Metals (NYSE: WPM)

Founded in 2004 and (once again) based in Vancouver, Canada, Wheaton Precious Metals is a mining company that sells gold, silver, palladium, and cobalt internationally. The company was originally known as Silver Wheaton Corp., but. it changed its name in May 2017 to reflect a broader precious metals focus for the company.

WPM has agreements for 24 operating mining assets and 7 development stage projects, and it has managed to achieve some of the highest cash operating margins in the mining industry. These days, it is one of the world’s largest precious metals streaming companies, generating hundreds of millions of revenue per quarter and delivering a greater than 1% dividend yield to sweeten the deal for investors.

The company’s stellar financial performance along with its dividend makes it one of the best silver companies to invest in right now, and that is why it is on our list.

4. Newmont Corporation (NYSE: NEM)

Many of you will have already heard of Newmont given its enormous stature as the world’s largest gold mining company. However, you may not have realised there is also a substantial silver component to this story.

Founded in 1916 and headquartered in Denver, Colorado, the company owns gold, copper, silver, zinc, and lead assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. These days, the company produces around 30,000 ounces of silver per annum, making it a small but robust player within silver market.

In the last five years, the company’s share price performance has been stellar, and with a dividend yield of well over 3.5%, it is an investment opportunity that is hard to ignore, even for investors who want more of a silver focus. The company’s vast production portfolio, exploration credentials, strong balance sheet and shareholder rewards have all earned it a spot in our top five.

5. Pan American Silver Corp. (NASDAQ: PAAS)

Incorporated in 1979 and headquartered in Vancouver, Canada, Pan American Silver used to be known as Pan American Minerals Corp. before a name change in April 1995. The company is involved in the exploration, development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines across Canada, Mexico, Peru, Argentina, and Bolivia. 

With a huge variety of assets and over 7,000 employees, the company’s recent growth has been impressive, and it has also been able to provide a dividend yield of well over 1% to shareholders. It is now one of the world’s largest silver producers, extracting around 25 million ounces of silver, 160,000 ounces of gold, 55,000 ounces of zinc, 21,000 tonnes of lead, and 13,000 tonnes of copper each year.

The company’s share price accretion in the last five years has been strong, and combined with the company’s sheer stature and diversified portfolio of assets, that is why it is on this list.

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What is a silver stock?

Stocks represent ownership in a publicly listed company. So, silver stocks are the stocks of companies engaged in the silver industry in some capacity.

Generally, this includes silver explorers who are on the lookout for high-grade silver deposits, developers who want to build the infrastructure of a silver mine before selling it to a major mining company, and producers who want to process and sell silver metal and products. It also includes some manufacturers of goods that require silver in production.

While you can purchase silver outright in bar or coin form, investing in silver stocks gives you exposure to the market performance of silver companies.

Are silver shares a good investment?

Historically, the silver price generally correlates with the gold price, though it is less volatile and its cycles are less dramatic. Silver is classed as a safe haven asset since its price performance negatively correlates with stocks and bonds, meaning it is a good place to park capital during times of economic unrest.

Silver is a precious metal with demand in the silverware, jewellery and photography sectors, and it also has numerous uses in the industrial sector with things like photovoltaics. This robust macro story makes silver one of the most popular commodities for retail investors and institutional investors alike.

Since the silver price peaked at over $46/oz in 2011, it has been on the slide, but in the last few years, we have seen a price resurgence that has coincided with the gold bull market. Whether or not a specific silver stock is a good investment really depends on the quality of the individual company. So, if you have conducted due diligence and determined things appear positive, it could well be a good investment. In contrast, if there are some red flags, it may be best to steer clear.

Find out more about silver stocks by checking out the latest news articles about this particular industry in the section below.

Latest silver news

Perhaps nothing in the market should surprise us these days. Surging inflation has ravaged the economies of many a country, while supply chain bottlenecks continue to persist in a variety of sectors. Pent-up demand resulted in a meteoric rise in the price of essentials, with a high likelihood of this…
Inflation rose to four decades highs in the United States, triggering a hawkish reaction from the Federal Reserve. The Fed frontloaded multiple rate hikes, lifting the funds rate from close to zero levels to more appropriate levels given the rise in the prices of goods and services. But there is…
Silver extended its correction from its recent highs above $26, and we could see even lower prices in the weeks ahead if the U.S. dollar remains strong. The demand for the dollar continues to grow as the Federal Reserve continues to hike rates in an effort to stem soaring inflation.
Silver price has edged lower in Monday’s session as a reaction to a stronger US dollar and higher Treasury yields. In the ensuing sessions, the focus will be on the Fed interest rate decision scheduled for release on Wednesday. Investors will also be keen on the COVID-19 outbreak recorded in…
One of the most interesting markets in the first months of 2022 was the commodity market. In times when inflation rises to decades-high levels, commodities failed to fulfill their role as a hedge against rising prices. Not only that gold or silver did not make new highs in 2022, but…
Precious metals are likely the most polarized of all assets. Opinions often swing between gold and silver having no economic utility to being virtually hallowed. Others see precious metals as offering profitable short-horizon trading opportunities.    Here is a quick thought experiment. Imagine for a moment, that you wake up…

Sources & references
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Charlie Hancox
Financial Writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.