Which TSXV-listed junior silver stocks are the top performers so far this year? We’ve compiled a list to guide investors.
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Editor's note — This article has been revised to remove Mantaro Silver; the company's share price was down year-to-date at the time of publication.
Silver attracted renewed attention in the first half of 2021, surging to a seven year high of US$28.55 per ounce. While silver's performance hasn't shone as brightly in the second half of the year, junior silver stocks are still enjoying share price gains.
Silver's price spike in February was initially linked to the WallStreetBets Reddit forum. The group responsible for driving up GameStop's (NYSE:GME) share price also targeted silver, drawing attention to the metal. While WallStreetBets has distanced itself from silver, retail interest was sparked elsewhere.
By the end of February, the excitement had waned, and silver slid to a three month low by the end of March, landing at US$25.25. In keeping with its volatile nature, silver rebounded to the US$28 level in mid-May only to slide to about US$22 in September; it climbed up to around US$24 in early November.
There is a silver lining to the white metal's lackluster performance — according to the Silver Institute, industrial demand for the metal is anticipated to touch a four year high in 2021 of 510 million ounces. The increase would mark a 9 percent year-over-year rise. Total silver demand is also projected to see an upswing, totaling 1.03 billion ounces, a six year high.
Below the Investing News Network has listed the best junior silver stocks on the TSXV by share price performance so far this year. All year-to-date and share price data was obtained on November 1, 2021, from TradingView. All junior silver stocks listed had market caps above C$10 million at that time.
1. Nevada Silver (TSXV:NSC)
Year-to-date gain: 328.35 percent; current share price: C$0.39
First up on this top junior silver stocks list is Nevada Silver, which has two advanced-stage exploration projects: the Corcoran silver-gold project in Nevada and the Emily manganese project in Minnesota.
The Corcoran project is located 22 kilometers east of Kinross Gold's (TSX:K,NYSE:KGC) Round Mountain gold mine in Nye County, Nevada. Nevada Silver initiated a drilling program on the project in early September and provided an update later in the month.
The company is new to the TSXV; it started trading on the exchange on May 7. Shares of Nevada Silver hit their highest point a few days later, closing at C$0.53 on May 11.
2. Rugby Mining (TSXV:RUG)
Year-to-date gain: 75 percent; current share price: C$0.14
Next on the top junior silver stocks list is the discovery-stage exploration company Rugby Mining is targeting precious metals and base metals in top mining jurisdictions in Chile, Colombia, Argentina, the Philippines and Australia. The company's main focus is the El Zanjon gold-silver project in Argentina.
Rugby further strengthened its project pipeline with the October acquisition of Proximo Resources, which controls gold and silver exploration assets in Chile and Argentina, including the drill-ready Salvadora silver-copper-gold project. Company shares peaked at C$0.16 on April 8.
3. Vizsla Silver (TSXV:VZLA)
Year-to-date gain: 61.27 percent; current share price: C$2.78
Vizsla Silver's flagship asset is its district-scale Panuco silver-gold project in Mexico's Sinaloa province. The company has the option to acquire 100 percent of this newly consolidated 9,386.5 hectare district, which includes over 75 kilometers of total vein extent, a 500 tonne per day mill, 35 kilometers of underground mines, plus tailings facilities, roads, power and permits.
Vizsla has been active throughout the year, and its share price reached its highest point so far in 2021 on October 25, when it hit C$3.11. The gain in value followed the company's release of positive drill results from its ongoing exploration campaign at Panuco.
4. Altaley Mining (TSXV:ATLY)
Year-to-date gain: 55.36 percent; current share price: C$0.43
Rounding out this list of top junior silver stocks is Altaley Mining, which has two wholly owned gold, silver and base metals mining projects in Mexico. At Campo Morado, the company is operating a polymetallic base metals mine currently producing at an average of 2,100 tonnes per day. Campo Morado is estimated to be Mexico's sixth largest zinc producer. The company's Tahuehueto mining project in Northwestern Durango state is nearing completion of the construction stage.
The Tahuehueto mine will include a 1,000 tonne per day processing facility for the production of gold, silver, lead and zinc in concentrates. Altaley is targeting initial pre-production by the end of the year, with a ramp up to full production capacity in Q1 2022.
The company's share price reached its highest point so far in 2021 on July 2, hitting C$0.80.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.