As silver prices continue to rally higher toward decade highs, investors are turning their attention to the top silver mining companies in order to gain exposure to what could be an explosive move to the upside. Below is a list of the top silver mining companies based on their growth potential from silver production:
1) VIZSLA SILVER (TSX.V: VZLA)
Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla Silver has completed over 350,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted +65,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.
2) PAN AMERICAN SILVER (TSX: PAAS) (NASDAQ: PAAS)
Pan American Silver has nine mining operations across North and South America. The company currently has a market cap of approximately C$8.5 billion, but its silver production accounts for less than 30% of overall revenue.
3) HECLA MINING (NYSE: HL)
Founded in 1891, Hecla Mining is the oldest precious metals mining company listed on the New York Stock Exchange. The company is responsible for 1/3 of all silver produced in the United States and holds the largest silver reserve and resource in the country. In Q2 2020 Hecla produced 3.4 million ounces of silver and 59,982 ounces of gold while recognizing 24% higher revenue over the prior year period. The company has operating mines throughout the United States including Alaska, Idaho and Nevada as well as mines in Mexico and Canada.
4) COEUR MINING (NYSE: CDE)
Coeur Mining operates five mines throughout North America. The company has a market cap of approximately US$1.4 billion, however silver production represents less than 26% of its overall revenue.
5) FORTUNA SILVER MINES (TSX: FVI)
Fortuna Silver Mines Inc. is a Canadian precious metals mining company with operations in Peru, Mexico, and Argentina.
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