Silver is a unique valuable metal. For many industrial applications, it is necessary. Silver is highly valued for electrical applications since it is the best electrical and thermal conductor of all metals. As a result of it, the industrial space accounts for more than half of the demand for silver.

Because silver has many of the same qualities as gold in investment, silver is also highly valued by investors. As inflation fear is spreading, more attention is being focused on gold and silver mining stocks as potential inflation hedges. As silver price rises, silver penny stocks may be valuable for generating profit.

Investing in silver stocks

The advantages of buying silver as an investment are similar to those of buying gold or other precious metals. Silver is valued by some of the investors as a diversification tool, a hedge against inflation, or a haven during economic downturns, due to its low correlation to stocks.

The acquisition, exploration, development, and production of mineral properties are the activities of silver mining companies. In addition to silver, these companies often mine for zinc, lead, copper, and gold.

Top Silver Stocks

Investors may choose to research top silver stocks with the best value, fastest growth, and the best performance.

In this article, we've compiled the list of 5 top silver mining stocks to invest in.

1. First Majestic Silver Corp

First Majestic Silver is a Canada-based silver-mining company operating four producing mines: the San Dimas and Santa-Elena silver-gold mines, Jerritt Canyon in Nevada, USA, and La Encantada silver mine in Mexico.

On May 24, First Majestic entered a definitive agreement to sell its La Guitarra Silver Mine in Mexico to Sierra Madre Gold and Silver Ltd. for a total of $35 million. First Majestic Silver will get 69 million Sierra Madre shares as part of the agreement, giving First Majestic 47% of the company's outstanding shares. The sale is expected to be finished in the year's second half.

First Majestic's 2022 guidance is set at 32.2 million to 35.8 million silver equivalent ounces, including 12.2 million to 13.5 million silver ounces, following record production in 2021. The company has disclosed Q1 and Q2 production numbers so far this year. The company generated 2.5 million ounces of silver and 7.2 million ounces of silver equivalent in the 1^st quarter and in the 2^nd quarter, it had 7.7 million silver equivalent ounces, including 2.8 million ounces of silver.

1. Pan American Silver Corp.

Pan American Silver considers itself the "top silver mining company in the world." Pan American Silver Corp runs nine mining operations in both North and South America, with four in Peru, two in Mexico, and one in Guatemala, Bolivia, Argentina, and Canada.

La Colorada, which is situated in Mexico, is the company's largest silver-producing mine.

Pan American Silver Corp. also focuses on producing gold, zinc, lead, and copper. The company engages in exploration, extraction, processing, refinement, and reclamation as part of its mining operations.

The Canadian stock ticker for Pan American Silver Corp. is PAAS.TO. The company's market valuation is currently over C$8.5 billion; however, less than 30% of revenue comes from silver production.

1. MAG Silver Corp

MAG Silver Corp (MAG) is a Canada-based mineral exploration and development company. Its focus is on acquiring, exploring, and developing silver projects in Mexico. Additionally, MAG owns a 44% interest in the Juanicipio project in Mexico's Zacatecas State's Fresnillo District. Vancouver, Canada, serves as the company headquarters of MAG Silver, which was founded in 2003. The company is also working to acquire a 100 percent interest in the U.S. state of Utah's Deer Trail exploration project.

In Canada, MAG Silver is traded using the ticker MAG.TO. On May 17, MAG released its Q1 2022 financial results. Compared to the same quarter last year, net income for the current quarter was $2.7 million. MAG did not give whole company sales numbers for the quarter.

1. Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a good investment choice if you are looking for silver mining stocks under $5.

Fortuna Silver Mine operates four silver mines in Argentina, Burkina Faso, Mexico, and Peru. The Séguéla gold project, which is constructing a new mine in Côte d'Ivoire, is heavily focused on operational sustainability.

Fortuna has spread the news this year about its Séguéla gold project. A 3,750 MT mill is being built at the site; according to the company's most recent update, as of June 15, the building was 61% finished.

The Canadian stock ticker for Fortuna Silver Mines is FVI.TO. On May 11, Fortuna released their Q1 2022 financial results. Sales increased by 54.8% year over year (YOY), while net income increased by 2.3%. Strong performance from the company's Lindero mine propelled sales growth.

1. Hecla Minning Company

Hecla Mining Company, the precious metals mining corporation, is headquartered in Coeur d'Alene, Idaho. It operates in the U.S. and internationally to find and develop precious and base metal resources both domestically and abroad.

The company offers unprocessed gold and silver bullion bars alongside bulk concentrations of lead, zinc, and other metals.

Hecla Mining Company announced its quarterly dividend in May, increasing it from the previous dividend of $0.00875 by 28.4% to $0.01125 per share. The company has an EPS of $0.06 in the first quarter of 2021, beating projections by $0.02. The revenue of Hecla Mining Company was $210.85 million, up 53.99% year-over-year (YOY) and beating estimates by $6.37 million. It has gained 7.18% in the last six months and 9.87% year to date. The company's gross profit margin is 47.78%.

Bottom line

Investing in top silver stocks is one of the several ways investors can get indirect exposure to the price of silver. Investors should note that silver and silver stocks are known for their volatility, and their prices fluctuate significantly in the short term. So, it's up to investors to do diligence and decide whether silver investments are suitable for their portfolios.