The Year Silver Went Parabolic: 5 Metal Miners To Add To Your Portfolio
Just one day after breaking through $60, silver surged again climbing above $61 per ounce on Wednesday and setting a fresh all-time high.
It's a continuation of the extraordinary rally that began earlier this year, when the metal, after decades of quiet, hesitant moves, finally woke up and began running in a league of its own.
What started as a catch-up trade to gold has now become one of the most dramatic breakouts in modern commodity history.
Year-to-date, silver has gained 112%, on track for its best run since 1979.
The Silver Supercycle Is Here
Investors are again piling into silver ahead of what is widely expected to be the Federal Reserve's third 25-basis-point rate cut of the year, with Chair Jerome Powell's press conference now carrying outsized importance for the 2026 policy path.
Lower rates weaken the dollar, suppress real yields, and tend to light a fire under precious metals — and silver, already the standout of 2025, is reacting first.
According to Crescat Capital's analyst Otavio "Tavi" Costa, silver is living "a moment of profound significance," driven by long-term inflationary pressures, financial repression, and a monetary system under strain.
Even after its historic run, Costa noted that silver still trades nearly 80% below its inflation-adjusted peak in 1980.
And while spot silver prices make headlines, the real fireworks are in the miners.
Silver miners have transformed from cyclical laggards into some of the most explosive equity opportunities in the entire market.
The Global X Silver Miners ETF (NYSE:SIL) is now up 147% this year, edging out even the explosive 141% rally in the VanEck Gold Miners ETF (NYSE:GDX). Both funds are crushing every equity sector, including the AI darlings and semiconductor heavyweights.
Chart: A Historic Year For The Mining Industry: Precious Metal Miners Rallied Over 140% YTD
5 Silver Miners to Consider Adding to Your Portfolio
Below are five companies at the center of this new precious metal cycle, each with some degree of exposure to silver.
1. Wheaton Precious Metals Corp. (NYSE:WPM)
Weight in SIL ETF: 22.26%
YTD Return: +95.74%
12-Month Target Implied Upside: +23.88%
Wheaton Precious Metals is the largest component of the Global X Silver Miners ETF, with a 22.3% weighting. Its shares have surged nearly 96% year-to-date, driven by rising silver and gold prices.
The Vancouver-based company operates a streaming model, buying production rights in exchange for upfront capital—providing diversified exposure to gold, silver, palladium and cobalt across four continents.
With analysts seeing another 24% upside from current levels, it remains a core holding for silver-focused investors.
2. Americas Gold And Silver Corp. (NYSE:USAS)
Weight in SIL ETF: 0.83%
YTD Return: +426.74%
Median Target Upside: +23.55%
The Toronto-based Americas Gold and Silver has emerged as one of 2025's biggest gainers, soaring 427% and outperforming most miners globally.
Despite a small 0.8% weight in the ETF, the company is leveraged to silver, zinc and lead production across the Americas.
After rebranding in 2019, the company has sharpened its focus on scaling its silver output — a move that couldn't have come at a better time.
Analysts remain bullish, with median price targets suggesting another 24% upside.
3. Coeur Mining Inc. (NYSE:CDE)
Weight in SIL ETF: 7.45%
YTD Return: +180.94%
Median Target Upside: +30.68%
Coeur Mining remains one of the heavyweight producers in the silver complex, with operations across North America.
The company's Rochester expansion — now one of the largest open-pit silver operations in North America — has transformed its production profile at precisely the moment silver is hitting all-time highs.
Despite being up already 181% year-to-date, Wall Street analysts continue to see upside here, projecting a 31% surge over the next 12 months.
4. Aya Gold & Silver Inc. (OTC:AYASF)
Weight in SIL ETF: 1.3%
YTD Return: +75.51%
Median Target Upside: +25.02%
Aya is the purest silver play on this list. Its flagship Zgounder mine in Morocco ranks among the highest-grade primary silver assets globally.
The company's limited exposure to gold makes it an attractive option for those seeking direct correlation to silver prices during this historic run.
5. New Pacific Metals Corp. (NYSE:NEWP)
Weight in SIL ETF: 0.23%
YTD Return: +162.71%
Median Target Upside: +33.72%
New Pacific Metals is one of the fastest-appreciating exploration-stage silver companies in 2025, delivering a 163% year-to-date surge.
The Vancouver-based company is focused primarily on Bolivia, one of the most geologically prospective silver regions in the world.
Its flagship Silver Sand Project, along with the Carangas and Silverstrike discoveries, positions New Pacific as one of the most promising pure-play silver developers globally.
Wall Street analysts see an additional ~34% upside from here, reflecting both metals-price leverage and the long-term optionality embedded in its Bolivian assets.
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Image created using artificial intelligence via Midjourney.