Which junior silver stocks are the top performers so far this year? We’ve compiled a list of top Canadian silver stocks to guide investors.
Click here to read the latest best junior silver stocks article.
Silver started 2022 with an unimpressive performance, but since the beginning of February the white metal's price has been mostly on the way up, reaching a high of US$26.36 per ounce.
Silver's strong performance this year follows a weak 2021. However, experts that the Investing News Network spoke with at the end of last year were mostly positive with their predictions for the precious metal’s outlook.
Some of the top silver stocks year-to-date have seen similar movements to the silver price so far this year, although they have all released significant news as well.
The best silver stocks list below was generated on March 28, 2022, using TradingView’s stock screener. Companies on the TSXV were considered, and all the silver stocks listed had market caps above C$10 million at that time.
Year-to-date gain: 69.7 percent; current share price: C$0.28
Canada Silver Cobalt Works is a dual-focused company targeting the clean energy revolution with its properties in Canada. Its two major projects are the Castle East silver-cobalt project in Ontario and the Graal battery metals project in Quebec. The past-producing Castle mine at Castle East reportedly produced 9.5 million ounces of silver and 136 metric tonnes of cobalt before it closed in 1989 due to low silver prices.
Canada Silver Cobalt Works saw its share price increase in mid-January, when it reported drill results from Castle East, and in February, the company shared its 2022 outlook and 2021 summary of company operations.
Since then, the company has released multiple exploration updates. It entered into an option agreement to acquire the Allsopp property, which will allow it to expand its Eby-Otto gold property, and also announced new drill intercepts at Castle East, with a highlight grade of 5,887.59 grams per tonne (g/t) over 0.53 meters. Lastly, Canada Silver Cobalt Works announced positive assay results from Graal, including 2.08 percent nickel and 3.75 percent copper. After releasing this last news, the company's share price spiked significantly, and it has remained raised.
2. Outcrop Silver & Gold (TSXV:OCG)
Year-to-date gain: 59.38 percent; current share price: C$0.255
Outcrop Silver & Gold (TSXV:OCG) is a silver and gold exploration company with a portfolio of five projects in Colombia. Its flagship asset is its Santa Ana silver project, which is the country’s highest-grade silver property. The company is performing ongoing drilling at the asset, and its highest-grade drill intercept as of November 2021 was 0.95 meters at 5,550 g/t silver and 70 g/t gold.
Outcrop’s share price jumped on January 18 alongside the silver price, five days after the company announced the appointment of Paul Taggar as its new CFO and provided a letter to shareholders reflecting on its growth in 2021. Since its share price jump, Outcrop has released news about further high-grade discoveries at Santa Ana and has shared its 2022 exploration plans for the project.
3. Stroud Resources (TSXV:SDR)
Year-to-date gain: 59.32 percent; current share price: C$0.47
Stroud Resources is focused on its Santo Domingo silver-gold project in Mexico's Hostotipaquillo region in the province of Jalisco. The region has a mining history dating back to the 1500s, and Stroud is the first company to explore Santo Domingo with modern techniques. The property has a measured and indicated mineral resource of 25.74 million silver equivalent (AgEq) ounces and an inferred resource of 13.39 million AgEq ounces.
The precious metals explorer's share price rose first in mid-January from C$0.25 on January 7 to C$0.42 on January 14. The company released news on January 12, sharing that a drill program at Santo Domingo had intersected high-grade silver, with a highlight of 371.6 g/t AgEq ounces over 9.95 meters, including 1,187 g/t AgEq over 1 meter. In late January, Stroud's share price fell, and stayed down through news of further drill results and the commencement of a Phase 2 drilling program at the property.
However, its share price began a sharp jump back up on March 9 to C$0.49 and has remained elevated since. The company has not released any news in March.
4. Santacruz Silver Mines (TSXV:SCZ)
Year-to-date gain: 45.16 percent; current share price: C$0.45
Santacruz Silver Mines is a South American silver miner with producing assets in Bolivia and Mexico, as well as an exploration project in Bolivia. The company's Bolivar and Porco operations are part of a joint venture agreement with the Bolivian government, which owns 55 percent compared to Santacruz's 45 percent.
Santacruz's share price has slowly risen throughout the year. At the beginning of February, the company shared its 2021 operating results, including its total production numbers. The company put out 1.289 million silver ounces, as well as sizeable amounts of zinc, copper and lead, for 3.2 million AgEq ounces. The company gave special mention to its Zimapan mine, which it said had an excellent year.
On March 21, the company acquired producing assets in Bolivia from Glencore (LSE:GLEN,OTC Pink:GLCNF). “This is a significant acquisition for Santacruz that creates a leading mid-tier silver producer in the Americas," Santacruz CEO Carlos Silva said in a press release.
5. Summa Silver (TSXV:SSVR)
Year-to-date gain: 32.65 percent; current share price: C$1.30
Summa Silver is a silver and gold exploration company with projects in Nevada and New Mexico, both in prolific silver districts. Its Nevada property, the Hughes project, is located on the Walker Lane trend, and its Mogollon project in New Mexico is on a significant past-producing silver- and gold-bearing vein field.
In February, Summa Silver closed an C$11.5 million private placement that included investments from Eric Sprott and First Majestic Silver (TSX:FR,NYSE:AG). Additionally, the company has been performing exploration at its Mogollon property in 2022, with first results highlighting 450 g/t AqEq over 11.6 meters, including 1,940 g/t over 0.9 meters. Later, on March 28, the company announced it was expanding its Hughes property with the acquisition of 1,446 additional acres of land alongside it.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Silver Cobalt Works is a client of the Investing News Network. This article is not paid-for content.
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