Silver is valued both as an industrial metal and as a precious metal. It is used in jewelry, electronics, and photography. Many investors use it as a safe haven in times of economic turmoil and sometimes as a hedge against inflation. Silver mining companies are engaged in the acquisition, exploration, development, and production of mineral properties. These companies often mine for other metals and minerals besides silver, such as zinc, lead, copper, and gold. Silver is often a byproduct produced from mining these other metals. Some big names in the industry include Wheaton Precious Metals Corp. (WPM), Hecla Mining Co. (HL), and SSR Mining Inc. (SSRM). Silver futures rallied in the wake of Russia’s invasion of Ukraine, but they have drifted downward since then.
Silver Stocks, represented by the Global X Silver Miners ETF (SIL), have underperformed the broader market over the past year. SIL has provided a total return of -30.9% over the past 12 months, well below the benchmark Russell 1000’s total return of -17.0%. These market performance numbers and all statistics in the tables below are as of Sept. 29, 2022.
Here are the top three silver stocks with the best value, the fastest growth, and the best performance.
These are the silver stocks with the lowest 12-month trailing price-to-earnings (P/E) ratio. Because profits can be returned to shareholders in the form of dividends and buybacks, a low P/E ratio shows you’re paying less for each dollar of profit generated.