5 Top Canadian Silver Stocks of 2025
Silver-mining companies and juniors have seen support from a strong silver price in 2025. The white metal has gained steadily since the start of the year, rising 11.47 percent to breach the US$32 per ounce mark.
Silver’s dual function as a monetary and industrial metal offers great upside. Demand from energy transition sectors, especially for use in the production of solar panels, has created tight supply and demand forces.
Demand is already outpacing mine supply, making for a positive situation for silver-producing companies.
So far, aboveground stockpiles have been keeping the price in check, but the expectation is those stocks will be depleted in 2025 or 2026, further restricting the supply side of the market.
How has silver’s price movement benefited Canadian silver stocks on the TSX, TSXV and CSE? The five companies listed below have seen the best performances since the start of the year. Data was gathered using TradingView’s stock screener on February 12, 2025, and all companies listed had market caps over C$10 million at that time.
Year-to-date gain: 125.35 percent
Market cap: C$616.71 million
Share price: C$1.6
Discovery Silver is a precious metals development company focused on advancing its Cordero silver project in Mexico. Additionally, it is looking to become a gold producer with its recently announced acquisition of the producing Porcupine Complex in Ontario, Canada.
Cordero is located in Mexico’s Chihuahua State and is composed of 26 titled mining concessions covering approximately 35,000 hectares in a prolific silver and gold mining district.
A 2024 feasibility study for the project outlined proven and probable reserves of 327 million metric tons of ore containing 302 million ounces of silver at an average grade of 29 grams per metric ton (g/t) silver, and 840,000 ounces of gold at an average grade of 0.08 g/t gold. The site also hosts significant zinc and lead reserves.
The report also indicated favorable economics for development. At a base case scenario of US$22 per ounce of silver and US$1,600 per ounce of gold, the project has an after-tax net present value of US$1.18 billion, an internal rate of return of 22 percent and a payback period of 5.2 years.
Discovery’s shares gained significantly on January 27, after the company announced it had entered into a deal to acquire the Porcupine Complex in Canada from Newmont (TSX:NGT,NYSE:NEM).
The Porcupine Complex is made up of four mines including two which are already in production: Hoyle Pond and Borden. Additionally, a significant portion of the complex is located in the Timmins Gold Camp, a region known for historic gold production.
Discovery anticipates production of 285,000 ounces of gold annually over the next 10 years and has a mine life of 22 years. Inferred resources at the site point to significant expansion, with 12,493.5 million ounces of gold, from 254.5 million metric tons of ore with an average grade of 1.53…
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