Silver is valued both as an industrial metal and as a precious metal. It is used in jewellery, electronics, and photography. Many investors use it as a safe haven in times of economic turmoil and sometimes as a hedge against inflation. Silver mining companies are engaged in the acquisition, exploration, development, and production of mineral properties. These companies often mine for other metals and minerals besides silver, such as zinc, lead, copper, and gold. Silver is often a byproduct produced from mining these other metals. Some big names in the industry include Wheaton Precious Metals Corp. (WPM), Hecla Mining Co. (HL), and SSR Mining Inc. (SSRM).
Silver stocks, represented by the Global X Silver Miners ETF (SIL), have outperformed the broader market over the last year. SIL has provided a total return of 47.3% over the past 12 months, more than double the Russell 1000's total return of 22.2%, as of December 8, 2020. All statistics in the tables below are as of December 9.
Here are the top 3 silver stocks with the best value, the fastest growth, and the most momentum.
Best Value Silver Stocks
These are the silver stocks with the lowest 12-month trailing price-to-earnings (P/E) ratio. Because profits can be returned to shareholders in the form of dividends and buybacks, a low P/E ratio shows you’re paying less for each dollar of profit generated.
|Best Value Silver Stocks|
|Price ($)||Market Cap ($B)||12-Month Trailing P/E Ratio|
|Silvercorp Metals Inc. (SVM)||6.14||1.1||25.6|
|Fortuna Silver Mines Inc. (FSM)||6.84||1.3||57.0|
|Pan American Silver Corp. (PAAS)||31.33||6.6||108.0|
- Silvercorp Metals Inc.: Silvercorp Metals is a Canada-based mining company that acquires, explores, and develops mineral properties in China. The company produces silver, lead, and zinc metals.
- Fortuna Silver Mines Inc.: Fortuna Silver Mines is a Canada-based mining company focused on silver mining in Latin America. The company operates silver, lead, zinc, and gold mines. Fortuna posted net income of $13.1 million as sales rose 36.1% in Q3 2020, which ended September 30, 2020. It was a significant improvement from the net loss of $7.7 million reported in the year-ago quarter. The company said that it withdrew its production and cost guidance for the year due to uncertainties related to the impact of the COVID-19 pandemic.
- Pan American Silver Corp.: Pan American Silver is a Canada-based mining company focused on the production of sliver, gold, zinc, lead, and copper. The company's mining activities include exploration, extraction, processing, refining, and reclamation. It has operations in the U.S. as well as Latin America. Pan American posted net earnings growth of 73.0% despite a 14.7% decline in revenue in Q3 2020, which ended September 30, 2020. The company said that the revenue decline reflected lower volumes of metal sold, partially offset by strong realized precious metal prices. The company said that the decrease in revenue was more than offset by lower cost of sales. Some of the company's operations ran at limited workforce levels due to COVID-19 related protocols, and two of its mines in Peru suspended operations for most of Q3.
Fastest Growing Silver Stocks
These are the silver stocks with the highest year-over-year (YOY) earnings per share (EPS) growth for the most recent quarter. Rising earnings show that a company’s business is growing and is generating more money that it can reinvest or return to shareholders.
|Fastest Growing Silver Stocks|
|Price ($)||Market Cap ($B)||EPS Growth (%)|
|First Majestic Silver Corp. (AG)||11.37||2.5||250.0|
|Pan American Silver Corp. (PAAS)||31.33||6.6||72.2|
|Silvercorp Metals Inc. (SVM)||6.14||1.1||28.6|
- First Majestic Silver Corp.: First Majestic Silver is a Canada-based mining company engaged in the acquisition, exploration, development, and production of mineral properties. Its primary focus is on silver production in Mexico. The company reported net earnings growth of 261.6% on revenue growth of 29.8% in Q3 2020, which ended September 30, 2020. Net income was boosted by several factors: lower general and administrative expenses and share-based payments compared to the year-ago quarter; and by gains on divestitures of exploration projects and unrealized gains on foreign currency reserves. First Majestic said that all three of its operations have resumed normal operations after temporary suspensions during the second quarter related to the pandemic.
- Pan American Silver Corp.: See above for company description.
- Silvercorp Metals Inc.: See above for company description.
Silver Stocks with the Most Momentum
These are the silver stocks that had the highest total return over the last 12 months.
|Silver Stocks with the Most Momentum|
|Price ($)||Market Cap ($B)||12-Month Trailing Total Return (%)|
|Fortuna Silver Mines Inc. (FSM)||6.84||1.3||114.4|
Endeavour Silver Corp. (EXK)
|MAG Silver Corp. (MAG)||16.83||1.6||62.0|
|Global X Silver Miners ETF (SIL)||N/A||N/A||47.3|
- Fortuna Silver Mines Inc.: See above for company description.
- Endeavour Silver Corp.: Endeavour Silver is a Canada-based mining company focused on silver properties in Mexico. It engages in property acquisition, exploration, development, mineral extraction, processing, refining, and reclamation. The company announced in mid-September the appointment of Donald Gray to the role of Chief Operating Officer (COO), replacing Godfrey Walton, who will be retiring at the end of the year.
- MAG Silver Corp.: MAG Silver is a Canada-based mineral exploration and development company. The company is focused on exploring for silver, lead, and zinc within the Mexican silver belt.
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YCharts. "Financial Data." Accessed Dec. 9, 2020.
Fortuna Silver Mines Inc. "Fortuna reports consolidated financial results for the third quarter 2020." Accessed Dec. 9, 2020.
Pan American Silver Corp. "Pan American Silver reports cash flow from operations of $114.9 million in Q3 2020 and increases dividend by 40%." Accessed Dec. 9, 2020.
Pan American Silver Inc. "THIRD QUARTER REPORT TO SHAREHOLDERS For the period ending September 30, 2020," Page 17. Accessed Dec. 9, 2020.
First Majestic Silver Corp. "CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 AND 2019," Page 1. Accessed Dec. 9, 2020.
First Majestic Silver Corp. "MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE QUARTER ENDED SEPTEMBER 30, 2020," Page 8. Accessed Dec. 9, 2020.
Endeavour Silver Corp. "ENDEAVOUR SILVER APPOINTS DON GRAY AS COO, AWARDS FEASIBILITY STUDY FOR TERRONERA PROJECT TO WOOD PLC." Accessed Dec. 9, 2020.