Best Silver Stocks of 2019 on the TSX

The silver price was relatively flat during the second quarter of the year, and while it managed to hit a high of US$15.41 per ounce on June 24, it only rose just under 1 percent overall in Q2.

Although the white metal did not enjoy significant gains, some silver companies still managed to make progress and expand the resource potential of their assets. Now that Q2 has come to a close, the Investing News Network has rounded up the best silver stocks on the TSX that have seen the biggest share price gains year-to-date.

The list below was generated on July 2, 2019 using TradingView, and all companies listed had market caps above C$50 million at that time.

1. Excellon Resources (TSX:EXN)

Current price: C$1.04; year-to-date gain: 50.72 percent

Excellon Resources is focused on discovering high-grade silver and carbonate replacement deposit mineralization on the 21,000 hectare Platosa project, and epithermal silver mineralization on the 45,000 hectare Evolución property. It is also interested in capitalizing on current market conditions by acquiring undervalued projects in the Americas.

In May, the company announced that it produced 522,261 silver equivalent ounces in the first quarter of 2019 and that its revenue came in at US$5.2 million during the same timeframe, with an additional US$3.4 million in revenue realized in early Q2 2019 from Q1 production.

“We had a strong start to the year with the mine and mill performing well, both hitting records in March of 256 tonnes per day mined and over 10,000 tonnes processed, respectively,” stated Brendan Cahill, president and CEO of the company.

2. MAG Silver (TSX:MAG)

Current share price: C$14.03; year-to-date gain: 40.3 percent

MAG Silver is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. The miner’s main asset is the Juanicipio property in Mexico.

At the beginning of April, MAG’s silver and gold Juanicipio joint venture project with Fresnillo (LSE:FRES), held through Minera Juanicipio, received final approval from both of the miner’s boards, as well as from Minera Juanicipio shareholders.

Also at the beginning of the second quarter, the company released its 2018 annual report, placing its working capital at US$129,316, including cash and cash equivalents of US$130,180.

3. Americas Silver (TSX:USA)

Current price: C$3.12; year-to-date gain: 39.91 percent

Americas Silver is a low-cost growth company that says it has the ability to create significant shareholder value through near-term production and cash flow growth and continued targeted, accretive merger and acquisition activity.

On April 3, the company announced results from a prefeasibility study and initial mineral reserve estimate at its El Cajón and Zone 120 silver-copper deposits located close to Cosalá, Mexico.

Results include estimated probable mineral reserves of 2.9 million tonnes grading 157 grams per tonne silver and 0.42 percent copper containing 14.5 million ounces of silver and 26.5 million pounds of copper.

4. First Majestic Silver (TSX:FR)

Current price: US$10.39; year-to-date gain: 29.55 percent

First Majestic Silver is a silver-focused company producing out of Mexico. Currently, the company owns and operates seven silver producing mines with annual production from these assets projected to be between 27 and 30 million silver equivalent ounces per year.

In mid-April, the company revealed that it achieved total production of 6.3 million silver equivalent ounces in Q1 of this year. Total production consisted of 3.3 million ounces of silver, 32,037 ounces of gold, 2.7 million pounds of lead and 1.3 million pounds of zinc.

“La Encantada recorded a significant 60 percent increase in silver production in the quarter due to higher grades and tonnes processed,” said Keith Neumeyer, president and CEO of First Majestic. “Finally, we continue to expect our investments in new innovations such as high-intensity grinding and microbubbles to begin to bear fruit in the second half of 2019 with higher recoveries and production at the Santa Elena, La Encantada and La Parrilla operations.”

5. Wheaton Precious Metals (TSX:WPM)

Current price: C$31.32; year-to-date gain: 17.52 percent

Wheaton Precious Metals is one of the largest precious metals streaming companies in the world and has entered into 23 agreements with 17 operating partners. Its revenue is split between silver and gold.

At the beginning of May, the company announced that it generated approximately US$120 million in operating cash flow during the first quarter of this year. Additionally, the miner noted that it sold 4,294 ounces of the white metal.

With silver production down last quarter, the company stated, “The decrease in silver sales volume was due to the lower production levels coupled with negative changes in the balance of payable silver produced but not yet delivered to Wheaton.”

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Securities Disclosure: I, Nicole Rashotte, currently hold no direct investment interest in any company mentioned in this article.