The silver price was up 17.7 percent year-to-date as of 5:00 p.m. EST on April 13, and many market watchers believe the metal will only continue to rise.
Worldwide uncertainty fueled by US President Donald Trump, upcoming elections in Europe and other factors have sent investors flocking to precious metals, which are viewed as safe-haven assets. And of course, some gold– and silver-focused companies have also been benefiting.
The list below was generated using The Globe and Mail’s market data filter, and it shows the TSX-listed silver companies that saw the biggest share price gains from January 1 to April 12. Only companies with market caps above $50 million are included. You can click here to view our list of the top-performing TSXV-listed silver stocks in Q1.
1. Silvercorp Metals (TSX:SVM,OTCMKTS:SVMLF)
Current price: $5.37; year-to-date gain: 71.57 percent
Silvercorp Metals is a silver producer with multiple mines in China, among other properties. So far this year it has released a slew of news, including results from 2016 exploration at its SGX and LMW mines, both located in China. After those results came out, the company published an updated NI 43-101 technical report for its SGX, HZG, HPG, TLP, LME and LMW mines.
Most recently, a subsidiary of Silvercorp entered into a royalty purchase and sale agreement with Maverix Metals (TSXV:MMX). Under the agreement, Maverix will acquire a 2.5-percent net smelter return royalty on Silvercorp’s BC-based Silvertip mine for up to 6,600,000 common shares.
2. Silver Bear Resources (TSX:SBR,OTCMKTS:SVBRF)
Current price: $0.40; year-to-date gain: 60 percent
Silver Bear Resources is focused on the development of its Mangazeisky silver project, located in Russia. Mangazeisky holds the Vertikalny deposit, which the company says is one of the highest-grade silver deposits in the world.
In February, Silver Bear released an update on Mangazeisky and announced certain agreements in principle with two of its major shareholders. Among other things, the two shareholders agreed to a revised funding package and development schedule for the project. Commissioning is now expected to begin in mid-2017; construction activities are currently taking place.
3. Levon Resources (TSX:LVN,OTCMKTS:LVNVF)
Current price: $0.46; year-to-date gain: 56.9 percent
Levon Resources is advancing the Mexico-based Cordero silver-gold-zinc–lead porphyry project. The company says the project holds one of the largest silver resources in the world; it has an indicated resource of 488.6 million ounces of silver and an inferred resource of 44.4 million ounces of silver. Cordero’s indicated resource also includes 1.37 million ounces of gold, 9 billion pounds of zinc and 4.7 billion pounds of lead.
So far this year Levon has released just one piece of news. On April 4, it announced plans to complete 5,000 meters of close-spaced infill drilling within the Cordero Felsic Dome portion of the 2014 resource for Cordero. It will be testing for near-surface, high-grade mineralization within the modeled open pit containing the 2014 resource.
4. MAG Silver (TSX:MAG,NYSEMKT:MAG)
Current price: $18.64; year-to-date gain: 26.12 percent
MAG Silver is focused on moving forward at high-grade silver projects located within Mexico’s Fresnillo Silver Trend. The company’s Juanicipio project is a joint venture with Fresnillo (LSE:FRES), while it wholly owns its Cinco de Mayo and Guigui projects. All are situated in Mexico.
2017 news from MAG has centered on Juanicipio. In February, it released results from 13 exploration and infill drill holes completed at the project, and in March it provided an update on the project. Notably, it said that a new resource estimate for the project is underway; a revised mine plan for the project will also be completed, and startup is now slated for the first half of 2019.
5. Silver Standard Resources (TSX:SSO,NASDAQ:SSRI)
Current price: $15.04; year-to-date gain: 25.23 percent
Silver Standard Resources operates three mines: the Nevada-based Marigold gold mine, the Seabee gold operation in Canada and the Pirquitas silver mine in Argentina. Pirquitas achieved commercial production in 2009, and in 2016 produced a record 10.4 million ounces of silver.
The company has released a fair amount of news this year, but one of its most notable announcements was the news that it has decided to exercise its option to form a joint venture with Golden Arrow Resources (TSXV:GRG). The two companies will work together to develop the Argentina-based Chinchillas silver project, with Silver Standard being the operator and taking a 75-percent stake in the project.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Levon Resources is a client of the Investing News Network. This article is not paid-for content.
This article is updated each quarter. Please scroll to the top for the most recent information.
Best Silver Stocks of 2016 on the TSX
By Priscila Barrera, January 3, 2017
Silver price has been on the rise in 2016 after it fared poorly in 2015. Prices have increased significantly year-to-date due to a weak US dollar, Brexit results and the US Federal Reserve announcements.
Silver didn’t fare well in 2015 dropping drastically from $18.29 an ounce at the beginning of 2015 to $13.83 early this year. But after the US election, silver jumped to as far as $18.84 and analysts forecast a lift throughout 2017.
In 2016, some of the best silver stocks on the TSX reached over 400 percent year-to-date gains. You can find them in the list below that was generated using The Globe and Mail’s market data filter, and does not include companies with a market cap of less than $50 million. Price and gains are as of January 3, 2017.
1. Northern Dynasty Minerals (TSX:NDM)
Price as of January 3, 2017: $2.59
Gain in 2016: 559.52 percent.
Topping the list of best silver stocks of 2016 is Northern Dynasty Minerals. The company owns 100% of the Pebble project, a copper-gold-molybdenum-silver deposit in southwest Alaska. It has been determined that the deposit contains 57 billion lb copper, 70 million oz gold, 3.4 billion lb molybdenum and 344 million oz silver as reported by the company.
2. Excellon Resources (TSX:EXN)
Price as of January 3, 2017: $1.77
Gain in 2016: 429.03 percent.
Excellon’s 100%-owned La Platosa Mine in Durango is Mexico’s highest grade silver mine, containing lead and zinc by-products. The company is also engaged in the exploration and evaluation of mining properties in Ontario and Quebec.
3. Silvercorp Metals (TSX:SVM)
Price as of January 3, 2017: $3.36
Gain in 2016: 374.24 percent.
Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China. The Company is the primary silver producer in that country through the operation of over four silver-lead-zinc mines in the Ying Mining District in Henan Province.
They reported silver production of over 46 million ounces to date and lead-zinc production of over 689 million pounds to date. They also announced that their silver, lead and zinc sales were up 44%, 51%, and 27%, respectively, from the prior year period, to approximately 1.8 million ounces silver, 19.9 million pounds lead, and 5.9 million pounds zinc.
4. Gabriel Resources (TSX:GBU)
Price as of January 3, 2017: $0.56
Gain in 2016: 278.57 percent
Gabriel Resources is a Canadian-based resource company focused on permitting and developing its world class Rosia Montana gold and silver project in Romania. Rosia Montana has been mined for 2,000 years and most recently by the state until 2006.
There has been an ongoing controversy involving local residents about this development. But Gabriel Resources said the $1.5 billion project to build Europe’s largest gold mine would provide a major boost for Romania’s lagging economy and create hundreds of jobs for the Transylvania region.
5. Americas Silver (TSX:USA)
Price as of January 3, 2017: $3.75
Gain in 2016: 191.67 percent
Last but not least, Americas Silver is a junior silver producer with assets in the Americas. The company owns and operates the Cosalá Operations in Sinaloa, Mexico and the Galena Mine Complex in Idaho, USA.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.