Top 5 Canadian Silver Stocks in 2026

1. Honey Badger Silver (TSXV:TUF)

Year-to-date gain: 305.26 percent
Market cap: C$116.70 million
Share price: C$0.77

Honey Badger Silver is an exploration-stage company with a large portfolio of greenfield and brownfield projects in Canada's Northwest Territories, as well as Yukon and Nunavut.

This includes the newly required PC silver project in the Northwest Territories. PC is a permitted underground silver-zinc-lead project that hosts a large, high-grade historical resource base with significant existing underground and development infrastructure.

Honey Badger's share price started out the year at C$0.19 and traded fairly sideways over the first quarter. However, its activities in the second quarter helped boost the stock.

In mid-April, Honey Badger closed on an C$11.5 million private placement to fund the costs associated with the acquisition.

By late May, the company had outlined its primary near-term priorities for advancing the PC silver project back into production. Those top priorities include securing site access via the buildout of an all-season road, refurbishing the existing mill and surface infrastructure at the PC Silver Mine, and drill work to expand the existing resource base.

Honey Badger anticipates the completion of an updated Preliminary Economic Assessment and updated Mineral Resource Estimate for the property in Q3 2026.

Shares of Honey Badger reached a year-to-date high of C$1.17 on May 26.

2. Aya Gold & Silver (TSX:AYA)

Year-to-date gain: 39.95 percent
Market cap: C$3.71 billion
Share price: C$28.13

Aya Gold & Silver is a precious metals mining company with feasibility-stage and producing assets in Morocco’s Anti-Atlas fault, which the company says is considered one of Africa’s most resource rich, underexplored and mining-friendly regions.

Aya’s Zgounder mine is a primary silver doré producer with a new processing facility. The company’s project pipeline includes the Boumadine polymetallic project. In 2025, the company produced 5.0 million ounces of silver equivalent, tripling its previous year production following the ramp-up of operations at Zgounder. Its full-year 2025 revenues increased by five-fold year-over-year (YoY) to US$202 million.

After starting 2026 at a share price of C$19.43, Aya's stock had managed a climb to C$29.53 on February 27. However, by the end of Q1 that share value had fallen back to C$17.46 per share.

A series of positive news flow in Q2 helped raise share value once again. In mid-May, Aya reported its Q1 2026 its financial and operational results for the period ending March 31, 2026. Its production totalled 1.5 million ounces of silver equivalent, up 40 percent YoY; meanwhile, revenue were up 247 percent YoY and up 56 percent quarter-over-quarter (QoQ) to US$117 million. Aya's cash flow was up 785 percent YoY and up 107 percent QoQ to US$70 million.

In mid-May, Aya reported drill results from its 2026–2027 infill and expansion drill program at the Boumadine project, confirming strong high-grade continuity along the Boumadine Main Trend. This included its best drill intercept to date in terms of grade-thickness: 890 g/t silver equivalent over 51.5 meters.

Aya's share price reached its highest year-to-date value of C$29.77 on June 2, the same day the company released its latest high-grade silver drill results from its exploration work at Zgounder. Some of the intercept highlights consist of 1,867 g/t silver over 6.0 meters, including 5,100 g/t silver over 2.0 meters in the open-pit area.

Aya Gold & Silver was added to the VanEck Gold Miners ETF (ARCA:GDX) on June 19.

3. AbraSilver Resource Corp. (TSXV:ABRA)

Year-to-date gain: 32.66 percent
Market cap: C$2.16 billion
Share price: C$14.46

AbraSilver Resource is an exploration and development company focused on its flagship Diablillos silver-gold project in the Argentine Puna region of Argentina's Salta Province.

The December 2024 prefeasibility study estimates an after tax net present value of US$747 million, an internal rate of return of 27.6 percent and a payback period of 2 years, at a base case silver price of US$25.50 per ounce and gold price of US$2,050 per ounce. The study anticipates an average annual production of 7.6 million ounces of silver and 72,000 ounces of gold over the 14 year mine life.

AbraSilver shares started the year at C$10.59 and rose to C$17.61 per share by February 27. After pulling back to C$12.59 by the end of the first quarter, its positive results in the Q2 gave the stock plenty of upside.

On April 27, AbraSilver announced it received approval for its environmental impact statement from the Salta Province government. A few days later, the company shared new assay results from its ongoing phase 4 drill program, confirming strong continuity of mineralization between the Oculto and JAC zones and expansion potential at Oculto East.

AbraSilver released an updated mineral resource estimate (MRE) for Diablillos on May 6, representing a substantial increase from the July 2025 MRE. Measured & Indicated resources now total 232 million tonnes, containing approximately 248 million ounces of silver and 2.54 million ounces of gold.

Shares in AbraSilver peaked at a year-to-date high of C$19.02 on May 13.

In late June, the company published a definitive feasibility study for Diablillos showcasing a after-tax NPV of C$4.2 billion, 42 percent IRR and payback in less than two years, with production of more than 20 million silver-equivalent ounces annually in the first five years.

A few days later, the project received government approval of the Environmental Impact Assessment which represents the final major environmental permit required to begin development and construction. Management expects to make a final investment decision by Q2 2027.

4. Silvercorp Metals (TSX:SVM)

Year-to-date gain: 31.77 percent
Market cap: C$3.33 billion
Share price: C$15.47

Silvercorp Metals is the world's fourth biggest silver-mining company by market cap. It operates two silver mines in China: the Ying Mining District in Henan and the GC mine in Guangdong.

In its operations report for its third fiscal quarter of 2026, the company reported total silver production for the quarter of 1.9 million ounces, a 4 percent decrease from the same period last year.

Silvercorp also shared that it is constructing the Kuanping project as a satellite deposit for the Ying mine, with minor ore production to begin in June. The company released its latest quarterly revenue figures on February 9, outlining US$126.1 million, up 51 percent over the same period last year.

After starting the year with a share price of C$11.45, the company had climbed to C$15.74 on January 16. Shares of Silvercorp rose to a year-to-date high of C$18.96 on February 27.

5. BP Silver (TSXV:BPAG)

Year-to-date gain: 56.25 percent
Market cap: C$46.1 million
Share price: C$1

BP Silver is an exploration company focused on its flagship Cosuño silver project in Bolivia.

Covering approximately 3,375 hectares, the project hosts a 10.5 square kilometer alteration zone with at least four primary exploration targets identified within the southern area.

Shares of BP Silver began the year at C$0.62 before tracking the price of silver higher to hit C$0.93 on January 29. BP Silver released assay results from the first two holes of its Phase I drill program at Cosuño on February 2. Highlights from the results include 29 meters at 56 grams per metric ton (g/t) silver and 0.28 g/t gold.

On February 27, the company announced assay results from the final eight holes of the 11 hole drill program at Cosuño. This time, high grades were on display, with one hole delivering 600.4 g/t silver over 5 meters; that includes an intersection of 1,655 g/t silver over 1 meter.

BP Silver's stock value reached a year-to-date high of C$1.32 on March 2.

2. Highlander Silver (TSX:HSLV)

Year-to-date gain: 41.3 percent
Market cap: C$1.49 million
Share price: C$7.63

Highlander Silver has a portfolio of precious metal assets in Latin America. In Mexico, the company operates the Mercedes gold-silver mine. In Peru, it is advancing the Corani silver project and the San Luis gold-silver project. Late last year, the company announced a merger with Bear Creek Mining; it was completed in February.

Shares of Highlander kicked off the year trading at C$5.46, and by January 28 had hit C$7.89.

On January 27, Highlander announced a US$40 million strategic investment by Eric Sprott through the purchase of common shares in the company. Its other major shareholders include the Augusta Group and Lundin family.

“The additional capital will allow us to accelerate growth plans within our portfolio, which includes the bonanza grade San Luis gold-silver project, one of the highest M&I resource grade projects in either the gold or silver sectors, and one of the largest permitted primary silver deposits in the world in the Corani silver project after the closing of the previously announced combination with Bear Creek Mining," stated Daniel Earle, president and CEO of Highlander.

Highlander's share price reached its highest year-to-date value of C$10.42 on March 2.

4. First Majestic Silver (TSX:AG)

Year-to-date gain: 23.26 percent
Market cap: C$14.19 billion
Share price: C$28.77

First Majestic Silver is the world’s second biggest silver miner by market cap.

It operates four mines in Mexico: Durango's San Dimas silver-gold mine, the Santa Elena silver-gold mine in Sonora, the La Encantada silver mine in Coahuila and the Los Gatos silver mine in Chihuahua. Los Gatos, in which Japan's Dowa Holdings (TSE:5714,OTCPL:DWMNF) owns a 30 percent share, also produces zinc, lead and gold as by-products.

Additionally, First Majestic mints and sells silver bullion from its First Mint facility in Nevada, US.

On January 15, the company reported that its 2025 silver production came in at 15.4 million ounces.

First Majestic's production guidance for 2026 is set at 13 million to 14.4 million ounces of silver, with silver equivalent all-in sustaining costs at US$26.15 to US$27.91 per ounce.

First Majestic’s stock value rose from C$22.06 to a year-to-date high of C$43.64 on February 27.