Is Warren Buffett buying silver?

While Warren Buffett isn't a fan of investing in gold, he has bought silver in the past. His company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), accumulated 3,500 tons of silver in 1997. However, he sold his entire silver investment by 2006. As of early May 2026, Buffett hadn't bought more silver.

Are silver stocks a good investment?

Silver stocks can be a good investment. Demand for silver is rising due to its importance in lower-carbon energy, which should enable mining companies to produce more silver. It should also help drive silver prices higher over the long term. A rising production and pricing combination could enable silver stock investments to produce attractive returns over the long run.

Do silver stocks pay dividends?

Yes, some silver stocks pay dividends. Many pay dividends based on their financial results. For example, First Majestic Silver's dividend policy is to pay 2% of its quarterly net revenue as dividends. Others, like Wheaton Precious Metals, pay a progressive dividend that increases with cash flow (it increased its dividend by 18% in 2026).

What are the most undervalued silver stocks?

Among the largest silver mining stocks that trade on a major U.S. stock exchange, these were the most undervalued in early 2026:Fortuna Mining Company (NYSE: FSM): 10.6 times earningsCompania de Minas Buenaventura (NYSE: BVN): 12.6 times.Pan American Silver: 20.4 timesCouer Mining (NYSE: CDE): 24.7 times.

What is the best silver stock to buy?

The best silver stock to buy is Wheaton Precious Metals. The precious metals streaming company has a high exposure to silver (46% of its revenue through 2030) and low fixed operating costs ($12.50 an ounce through 2030). It also has a strong balance sheet, enabling it to continue growing its streaming portfolio. These factors position it to outperform silver's price in the coming years.

Best Silver Stocks for 2026 and How to Invest

By Matthew DiLallo – Updated May 5, 2026 at 2:19 PM EST | Fact-checked by Frank Bass

Key Points

Silver is an important metal in the tech industry and a safe-haven investment like gold, driving its dual demand.
Top silver stocks include First Majestic, Pan American Silver, and Wheaton Precious Metals.
Wheaton Precious Metals offers a lower-risk silver investment with its streaming business model.

Silver stocks are publicly traded companies that focus on producing silver, a metal with a rare mix of industrial and investment appeal. Silver is essential to modern technology, thanks to its unmatched electrical and thermal conductivity, which is why more than half of global demand comes from industrial uses.

At the same time, silver attracts investors for many of the same reasons as gold. It’s widely seen as a safe-haven asset that can help hedge against inflation, cushion portfolios during economic downturns, and add diversification. Here’s how to invest in silver without buying the physical metal itself.

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Top silver stocks in 2026

Many metals companies produce silver, but it’s rarely their main focus. Most miners focus on industrial metals like iron ore, copper, and aluminum, with silver often a byproduct of those mines.

Precious metals miners, on the other hand, usually prioritize gold. As a result, even companies that focus on mining silver often get around half of their revenue from it. That narrows the field for investors, but a handful of silver stocks still stand out:

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Ticker Information Table
Name and ticker	Market cap	Dividend yield	Industry
First Majestic Silver (NYSE:AG)	$9.3 billion	0.10%	Metals and Mining
Pan American Silver (NYSE:PAAS)	$22.3 billion	1.36%	Metals and Mining
Wheaton Precious Metals (NYSE:WPM)	$56.4 billion	0.56%	Metals and Mining
iShares Silver Trust (NYSEMKT:SLV)	$0.0 thousand	0.00%	Capital Markets

Data as of May 20, 2026. Showing 4 of 4 tickers.

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1. First Majestic Silver

First Majestic (AG +6.16%) is one of the purest plays on silver in the mining sector. The company generated an industry-leading 58% of its revenue from silver in 2025. Although it's a Canadian company, First Majestic focuses on Mexico because it produces more silver than any other country. The company's operations span three world-class mining districts in Mexico.

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NYSE: AG

First Majestic Silver

Today's Change

(6.16%) $1.16

Current Price

$19.94

Key Data Points

Market Cap

$9.3B

Day's Range

$18.64 - $20.05

52wk Range

$5.72 - $32.03

Volume

11M

Avg Vol

18M

Gross Margin

42.98%

Dividend Yield

0.10%

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First Majestic meaningfully expanded its silver operations by acquiring Gatos Silver in early 2025. That deal gave it a 70% interest in the Los Gatos joint venture, a silver, lead, and zinc mine in Mexico.

First Majestic's focus on producing silver positions it to outperform silver prices. It can increase production while reducing costs, thereby growing profits faster than silver prices.

However, its business model also makes it vulnerable to operational problems and cost overruns. Mining issues, management missteps, and exposure to other commodities can weigh on a silver mining company's stock performance.

First Majestic believes it can be a long-term outperformer. It has a strong financial position, allowing it to invest millions of dollars each year in finding and developing new silver mines. It has also spent heavily to acquire other silver mines, including spending $970 million in early 2025 for Gatos Silver.

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2. Pan American Silver

Pan American Silver (PAAS +3.71%) bills itself as the world's premier silver mining company. It has grown into one of the largest silver-focused companies by market cap through a series of acquisitions. In 2025, the company closed its latest deal, buying MAG Silver for $2.1 billion. The deal gave it a stake in the large-scale, high-grade Juanipio Silver Mine.

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NYSE: PAAS

Pan American Silver

Today's Change

(3.71%) $1.96

Current Price

$54.83

Key Data Points

Market Cap

$22B

Day's Range

$52.86 - $55.17

52wk Range

$23.36 - $69.99

Volume

Avg Vol

6.6M

Gross Margin

42.92%

Dividend Yield

1.36%

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That deal added to its already robust silver portfolio. Pan America has 10 producing silver and gold mines across North and South America. It also has several silver growth catalysts, including potential projects at its La Colorada Skarn, Escobal, and Navidad mines. These mines give it substantial silver and gold reserves (452 million and 6.3 million ounces, respectively).

Pan American Silver stands out for its rock-solid balance sheet, including $1.3 billion of cash and short-term investments as of early May 2026. In addition, its business generates free cash flow, enabling it to fund expansions while returning cash to investors via share repurchases and dividends (it hiked its payout 29% in early 2026). The combination of financial strength and long-term upside to silver makes Pan American Silver a potentially compelling option for investors.

3. Wheaton Precious Metals

Wheaton Precious Metals (WPM +2.46%) is a precious metals streaming company. Instead of operating physical mines, Wheaton provides mining companies (including Pan American Silver and First Majestic) with cash to cover portions of their mine development costs.

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NYSE: WPM

Wheaton Precious Metals

Today's Change

(2.46%) $3.06

Current Price

$127.20

Key Data Points

Market Cap

$56B

Day's Range

$123.00 - $127.95

52wk Range

$83.60 - $165.76

Volume

67K

Avg Vol

2.4M

Gross Margin

74.68%

Dividend Yield

0.56%

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In exchange, the company receives the right to buy some of the metal produced by the mines at fixed prices. Its vision is to be the world's premier precious metals investment vehicle. The company's portfolio features 23 operating mines and another 26 development projects.

It expects to get about 46% of its revenue from silver, another 52% from gold, and the remaining from palladium, platinum, and cobalt through 2030. The company anticipates its production will rise from 860,000-940,000 gold equivalent ounces (GEOs) in 2026 to an average of 1.2 million GEOs by 2030 as more of its partners' development projects come online and start producing.

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Wheaton has low fixed costs of $12.50 per ounce of silver and $650 per ounce of gold through 2030. Any price above that level generates profit for the company.

The company's focus on streaming enables it to generate significant cash. Wheaton uses the money to invest in new streams and pay dividends to shareholders. In early 2026, it paid $4.3 billion to BHP Group (BHP +2.05%) for its 33.75% share of the silver produced at the Antamina mine in Peru, at a cost equal to 20% of the spot price of silver. The company also has a progressive dividend policy, paying out an industry-leading 25% of its cash flow in dividends.

Wheaton's business model enables it to profit from rising silver prices like a mining company. However, it entails fewer risks and potential cost overruns than physical mining, making it a lower-risk way to invest in precious metals like silver.

4. iShares Silver Trust

The iShares Silver Trust (SLV +2.73%) is an exchange-traded fund (ETF) that focuses on physical silver. The silver ETF aims to track silver's price by owning silver bars stored in bank vaults in London and New York City. It had over $35 billion in assets under management in May 2026.

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NYSEMKT: SLV

iShares Silver Trust

Today's Change

(2.73%) $1.83

Current Price

$68.73

Key Data Points

Day's Range

$67.33 - $69.33

52wk Range

$29.78 - $109.83

Volume

20M

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Because the ETF holds physical silver, it tracks the price of the precious metal relatively closely. The chart below shows how the price of iShares Silver Trust shares has moved with silver's price.

Silver price chart May 2026 — Image source: YCharts.

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The ETF has largely tracked silver's price over the long term. Investors get this solid performance at a reasonable cost, as the fund's annual expense ratio is 0.5%, a good ETF expense ratio overall. It's a small price to pay to invest in silver without owning the precious metal or facing the operational risks of silver mining stocks.

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Future Outlook for the Silver Industry

In early 2026, J.P. Morgan (JPM +2.15%) Global Research forecast that silver would average $81 per ounce this year. That's more than double its average in 2025, when its price surged 130%. Silver has been on the rise due to industrial demand and uncertainty over tariffs. A silver price above $80 would enable silver producers to generate significant earnings and cash flow. That would allow them to strengthen their balance sheets, invest in development projects, and return additional cash to investors via dividends and repurchases.

Is investing in silver stocks right for you?

There are many reasons to consider investing in silver stocks. Some benefits of buying these stocks include:

Silver is an inflation hedge.
It's a potential safe-haven investment.
It's benefiting from growing industrial demand. (The fast-growing solar energy and electric vehicle (EV) industries are two notable industrial demand drivers.)
Easier to own than physical silver.

However, investing in silver stocks also has its drawbacks.

The price of silver can be volatile, ebbing and flowing as economic, inflationary, and geopolitical fears rise and subside.
The rise of cryptocurrencies could affect investor demand for silver.
The potential for mine cost overruns could cause a silver mining stock to underperform its price.

Weighing these benefits and risks is essential before adding silver stocks to your portfolio. With demand coming from investors, consumers, and industry alike, silver is playing a growing role in the global economy. For the right investor, silver mining stocks or silver-focused ETFs could be a useful way to add diversification.

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FAQ

Investing in silver stocks FAQ

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About the Author

Matt DiLallo has been a contributing Motley Fool stock analyst specializing in the energy, industrials, and real estate sectors since 2012. He also covers dividend-paying stocks, pre-IPO companies, ETFs, and other investing topics. He holds an MBA from Liberty University.

TMFmd19

@MatthewDiLallo

Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Best Silver Stocks for 2026 and How to Invest

Key Points

Top silver stocks in 2026

1. First Majestic Silver

Key Data Points

2. Pan American Silver

Key Data Points

3. Wheaton Precious Metals

Key Data Points

4. iShares Silver Trust

Key Data Points

Future Outlook for the Silver Industry

Is investing in silver stocks right for you?

Related investing topics

Best Mining Stocks to Buy in 2026: Your Complete Guide

Best Metal Stocks of 2026: Your Guide to Investing in Metal

Best Materials Stocks of 2026 and How to Invest in Them

5 Best Steel Stocks to Buy in 2026

FAQ

Investing in silver stocks FAQ

Is Warren Buffett buying silver?

Is Warren Buffett buying silver?

Are silver stocks a good investment?

Are silver stocks a good investment?

Do silver stocks pay dividends?

Do silver stocks pay dividends?

What are the most undervalued silver stocks?

What are the most undervalued silver stocks?

What is the best silver stock to buy?

What is the best silver stock to buy?

About the Author

Read Next

Stocks Mentioned

Premium Investing Services

Top silver stocks in 2026

1. First Majestic Silver

Key Data Points

2. Pan American Silver

Key Data Points

3. Wheaton Precious Metals

Key Data Points

4. iShares Silver Trust

Key Data Points

Future Outlook for the Silver Industry

Is investing in silver stocks right for you?

Best Mining Stocks to Buy in 2026: Your Complete Guide

Best Metal Stocks of 2026: Your Guide to Investing in Metal

Best Materials Stocks of 2026 and How to Invest in Them

5 Best Steel Stocks to Buy in 2026

Investing in silver stocks FAQ

Is Warren Buffett buying silver?

Is Warren Buffett buying silver?

Are silver stocks a good investment?

Are silver stocks a good investment?

Do silver stocks pay dividends?

Do silver stocks pay dividends?

What are the most undervalued silver stocks?

What are the most undervalued silver stocks?

What is the best silver stock to buy?

What is the best silver stock to buy?