The 7 Best Silver Mining Stocks To Invest In Now

TipsForTraders | February 28, 2024

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These 7 mining stock are worth taking a deeper dive on…..

In the dynamic world of precious metals investments, silver stands out for its industrial and monetary value, offering a lucrative opportunity for those looking to diversify their portfolios.

Amidst a myriad of options, our analysts have found seven silver mining stocks that have emerged as top contenders for investors keen on tapping into the sector’s potential. These selections are not just random picks; they are driven by robust hedge fund interest, promising financial performance, and strategic operations that set them apart from their peers.

  1. Pan American Silver Corp. (NYSE:PAAS): With a strong buy average share price target and a 60% upside, Pan American Silver Corp. is a leader in the silver mining industry. Boasting 22 hedge fund investors in Q4 2023, its strategic operations in Vancouver, Canada, make it a prime choice for investors seeking growth.
  2. Hecla Mining Company (NYSE:HL): Known for its lucrative properties in Alaska, Hecla Mining Company is a significant player with a buy rating and a promising average share price target of $5.74. Supported by 14 hedge funds, its strategic investments offer a solid case for potential investors.
  3. Fortuna Silver Mines Inc. (NYSE:FSM): This Canadian mining company, with operations across Peru and Mexico, stands out for beating analyst EPS estimates in recent quarters. Eighteen hedge funds have taken notice, marking it as a compelling option for those looking to invest in silver.
  4. Royal Gold, Inc. (NASDAQ:RGLD): As a metals streaming company with a global presence, Royal Gold, Inc. has secured a cash flow agreement that extends the life of a Canadian mine. With 23 hedge funds backing it, its strong financial position and strategic advantage make it an attractive investment.
  5. MAG Silver Corp. (NYSE:MAG): With the highest upside among our picks, MAG Silver Corp. offers a 105% potential increase. Fourteen hedge funds have invested in this diversified metals miner with operations in Mexico, highlighting its growth potential.
  6. Coeur Mining, Inc. (NYSE:CDE): An American gold and silver mining company with a presence in the U.S., Canada, and Mexico, Coeur Mining has shown a 4.5% annual revenue growth despite mixed earnings results. With 14 hedge funds interested, it presents a nuanced but promising investment opportunity.
  7. Southern Copper Corporation (NYSE:SCCO): Although rated hold on average, Southern Copper Corporation stands out for beating analyst EPS estimates in three of its last four quarters. With 22 hedge funds investing and a robust $288 million stake from Fisher Asset Management, it offers a stable investment option with potential for growth.

Investing in silver mining stocks offers a unique blend of risk and reward, with these seven companies demonstrating significant potential for growth, backed by strategic operations and hedge fund interest. As the global economy continues to evolve, the silver mining sector remains a vibrant field for investors looking to capitalize on precious metals’ enduring value.

At Tips4Traders, we recognize the importance of making informed investment decisions. These seven silver mining stocks represent a curated selection poised for success in the current market climate. As always, investors are encouraged to conduct their research and consider their financial goals and risk tolerance before diving into the silver mining sector. With the right strategy, investing in silver mining stocks can be a glittering addition to any diversified investment portfolio but as always, we recommend talking to a professional for proper advice.