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 August 2026, Buffett's company 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 (0.2% yield in September 2026). Meanwhile, Pan American Silver's enhanced shareholder return framework aims to return 35%-40% of its annual attributable free cash flow to shareholders through a combination of dividends (1.3% yield) and share repurchases. Others, like Wheaton Precious Metals, pay a progressive dividend that increases with cash flow. It increased its dividend by 18% in 2026, and yielded 0.5% in early September.

What are the most undervalued silver stocks?

Among the largest silver mining stocks that trade on a major U.S. stock exchange, the most undervalued in August 2026 were:Fortuna Mining Company (NYSE: FSM): 11.2 times earningsCompania de Minas Buenaventura (NYSE: BVN): 11.7 timesPan American Silver: 16.3 timesCouer Mining (NYSE: CDE): 21.6 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.

4 Best Silver Stocks for 2026 and How to Invest

By Matthew DiLallo – Updated Sep 1, 2026 at 2:55 PM EST | Fact-checked by Frank Bass

Key Points

Invest in silver stocks for diversification and inflation protection.
First Majestic's revenue surged by 57% in the second quarter of 2026 due to rising silver production and higher prices.
Wheaton Precious Metals to grow its annual gold equivalent ounces to 1.2 million by 2030, supporting its progressive dividend program.

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. Many view it 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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Ticker Information Table
Name and ticker	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Dividend yield	Industry
First Majestic Silver (NYSE:AG)	$10.1 billion	0.22%	Metals and Mining
Pan American Silver (NYSE:PAAS)	$21.5 billion	1.32%	Metals and Mining
Wheaton Precious Metals (NYSE:WPM)	$68.5 billion	0.50%	Metals and Mining
iShares Silver Trust (NYSEMKT:SLV)	$0.0 thousand	0.00%	Capital Markets

Data as of Sep 1, 2026. Showing 4 of 4 total entries.

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1. First Majestic Silver

First Majestic Silver (AG -2.06%) is one of the purest plays on silver in the mining sector. The company generated a peer-leading 63% of its revenue from silver in the first-half of 2026 (and 92% from precious metals). 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

Premium Feature

Moneyball Superscore

71/100

Today's Change

(-2.21%) $-0.46

Current Price

$20.13

Key Data Points

Market Cap

$10B

Day's Range

$19.55 - $20.77

52wk Range

$9.00 - $32.03

Volume

9.3M

Avg Vol

11M

Gross Margin

49.63%

Dividend Yield

0.22%

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First Majestic's focus on producing silver positions it to outperform as silver prices rise. It can increase production while reducing costs, thereby growing profits faster than silver prices. For example, its revenue surged 57% in the second quarter to $415.5 million, driven by higher silver production and surging silver prices. Meanwhile, First Majestic's free cash flow jumped 150% to about $195 million.

The silver miner is returning more money to shareholders through an updated dividend policy. It now targets paying out about 2% of its quarterly net revenue. As a result, it increased its dividend by 217% in the second quarter of 2026 compared to the prior year.

First Majestic is also using its cash flow to invest in the discovery and development of new silver mines. In June 2026, First Majestic agreed to invest another $12 million to advance underground access at Santo Niño, positioning it for near-term drilling and further advancing the Navidad discovery.

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2. Pan American Silver

Pan American Silver (PAAS -2.81%) 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 purchase gave it a stake in the large-scale, high-grade Juanipio Silver Mine.

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NYSE: PAAS

Pan American Silver

Premium Feature

Moneyball Superscore

72/100

Today's Change

(-2.83%) $-1.47

Current Price

$50.45

Key Data Points

Market Cap

$22B

Day's Range

$49.72 - $52.05

52wk Range

$33.08 - $69.99

Volume

2.2M

Avg Vol

4.7M

Gross Margin

43.92%

Dividend Yield

1.32%

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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.

Pan American Silver stands out for its rock-solid balance sheet, including $1.8 billion of cash and short-term investments as of the end of the second quarter. 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). Pan American aims to return 35%-40% of its annual cash flow to investors, targeting up to $1 billion in 2026 (it returned a record $300 million to shareholders in the second quarter).

3. Wheaton Precious Metals

Wheaton Precious Metals (WPM -2.92%) 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

Premium Feature

Moneyball Superscore

76/100

Today's Change

(-2.90%) $-4.38

Current Price

$146.45

Key Data Points

Market Cap

$69B

Day's Range

$144.03 - $149.74

52wk Range

$92.56 - $165.76

Volume

1.6M

Avg Vol

2.2M

Gross Margin

75.21%

Dividend Yield

0.50%

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In exchange, the company receives the right to buy some of the metal produced by the mines at fixed prices. For example, in early 2026, it paid $4.3 billion to BHP Group (BHP -0.95%) 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's portfolio currently features 22 operating mines, 20 development projects, and 15 exploration and other assets.

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 to 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 begin producing.

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, which it uses to invest in new streams and pay dividends to shareholders. The company also has a progressive dividend policy, paying out an industry-leading 25% of its cash flow in dividends. It raised its payment by 18% in 2026.

4. iShares Silver Trust

The iShares Silver Trust (SLV -3.40%) is the largest exchange-traded fund (ETF) focused on investing in 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 almost $34.7 billion in assets under management (holding approximately 493.8 million ounces of silver) as of September 2026.

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NYSEMKT: SLV

iShares Silver Trust

Today's Change

(-3.42%) $-2.06

Current Price

$58.08

Key Data Points

AUM

$35B

Expense Ratio

0.50%

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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.

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SLV vs silver sept 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.

How to buy silver stocks

Open your brokerage account: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the silver stock: Enter the ticker into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in silver stocks

Benefits of investing in silver stocks:

Inflation hedge: Silver has historically held its value as the dollar weakened.
Industrial demand growth: Increased use in solar and automative manufacturing supports long-term demand.
Safe-haven appeal: Silver tends to hold up during market selloffs.

Risks of investing in silver stocks:

Underperformance potential: Mining cost overruns, mismanagement, excessive debt levels, and other issues can cause silver mining stocks to underperform silver prices.
Volatility: Silver prices can swing wildly.
New competition: The rise of cryptocurrencies could affect future investor demand for silver.

Methodology: How these stocks were chosen

While silver is a vital metal with both investment and industrial uses, few mining companies focus on it. These investments stood out because they offer the purest exposure to silver in the sector. They're also among the largest players in the industry, making them less risky than other silver-focused investment options.

Should you invest in silver stocks?

Demand for silver is rising from investors, consumers, and industrial sources. For investors seeking greater diversification, growth potential, and inflation protection, silver mining stocks or silver-focused ETFs could be a great addition to a portfolio.

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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.

4 Best Silver Stocks for 2026 and How to Invest

Key Points

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

How to buy silver stocks

Benefits and risks of investing in silver stocks

Methodology: How these stocks were chosen

Should you invest in silver stocks?

Related investing topics

5 Best Mining Stocks for 2026 and How to Invest

5 Best Metals Stocks for 2026 and How to Invest

7 Best Materials Stocks for 2026 and How to Invest

5 Best Steel Stocks for 2026 and How to Invest

Investing in silver stocks: FAQ

About the Author

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Investing in silver stocks: FAQ

Is Warren Buffett buying silver?

Are silver stocks a good investment?

Do silver stocks pay dividends?

What are the most undervalued silver stocks?

What is the best silver stock to buy?

How to buy silver stocks

Benefits and risks of investing in silver stocks

Methodology: How these stocks were chosen

Should you invest in silver stocks?

Related investing topics

4 top silver stocks for 2026

1. First Majestic Silver

2. Pan American Silver

4. iShares Silver Trust

Key Data Points

Key Data Points

3. Wheaton Precious Metals

Key Data Points

Key Data Points