Silver Mining Stocks
Top 10 of 39 SIL holdings, updated
As of 12 October 2026, silver mining stocks are losing ground: still ahead of the S&P 500 over the longer run, but behind over the past month. SIL trails the S&P 500 by 12.7 points over one month and ranks #109 of 115 groups Zensei tracks. 5 of the 12 silver mining stocks Zensei prices in SIL beat the fund this month.
Where silver mining stocks stand now
As of 12 October 2026, Silver Miners (SIL) ranks #109 of the 115 groups Zensei tracks by one-month return against the S&P 500, among the market's weakest pockets. It is losing its lead. It built a 27.7-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 12.7 points behind the market — the Cooling quadrant of the rotation map.
On the shorter tape, SIL's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. SIL's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Global X Silver Miners ETF, whose 39 tracked holdings are led by Wheaton Precious Metals Corp, Pan American Silver Corp and Coeur Mining Inc. Weighted by portfolio, the fund's holdings trade at roughly 15.4× earnings. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
Top silver mining stocks right now
The largest silver mining stocks by weight in SIL, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of SIL
- 1Wheaton Precious Metals Corp23.5%
- 2Pan American Silver Corp11.3%
- 3Coeur Mining IncCDE10.7%
- 4Hecla Mining CoHL4.8%
- 5Industrias Penoles Sab de Cv4.7%
Strongest this month
1-month return, holdings Zensei prices
- 1Compania de Minas Buenaventura SaaBVN−5.0%
- 2Aya Gold & Silver IncAYA−5.4%
- 3Triple Flag Precious Metals CorpTFPM−7.8%
- 4Mcewen IncMUX−10.3%
- 5Highlander Silver CorpHSLV−10.4%
Silver Mining Stocks vs the S&P 500
Over the week to 12 October 2026, SIL fell 0.0% while the S&P 500 rose 0.4%. SIL and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means SIL won that window.
Prices as of · computed from daily adjusted closes · how we measure
Silver Miners on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are silver mining stocks expensive?
The price-to-earnings ratio of SIL as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
SIL holdings: the silver mining stocks inside
As of 12 October 2026, 5 of the 12 silver mining stocks Zensei prices in SIL beat the fund over the past month. 0 of them beat the S&P 500. The strongest is Compania de Minas Buenaventura Saa (BVN); the weakest is Coeur Mining Inc (CDE). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | Wheaton Precious Metals Corp | 23.5% | — | — | No price data | ||
| 2 | Pan American Silver Corp | 11.3% | — | — | No price data | ||
| 3 | CDECoeur Mining Inc | 10.7% | −18.6% | +7.5% | −7.9 pts | Weak | Broken |
| 4 | HLHecla Mining Co | 4.8% | −14.8% | +10.5% | −4.2 pts | Weak | Broken |
| 5 | Industrias Penoles Sab de Cv | 4.7% | — | — | No price data | ||
| 6 | First Majestic Silver | 4.5% | — | — | No price data | ||
| 7 | Ssr Mining Inc | 4.3% | — | — | No price data | ||
| 8 | Or Royalties Inc | 4.1% | — | — | No price data | ||
| 9 | Fresnillo PLC | 4.0% | — | — | No price data | ||
| 10 | BVNCompania de Minas Buenaventura Saa | 3.7% | −5.0% | +8.4% | +5.6 pts | Accelerating | Strong |
All 39 SIL holdings by weight: Wheaton Precious Metals Corp 23.5%, Pan American Silver Corp 11.3%, Coeur Mining Inc (CDE) 10.7%, Hecla Mining Co (HL) 4.8%, Industrias Penoles Sab de Cv 4.7%, First Majestic Silver 4.5%, Ssr Mining Inc 4.3%, Or Royalties Inc 4.1%, Fresnillo PLC 4.0%, Compania de Minas Buenaventura Saa (BVN) 3.7%, Discovery Mining Ltd 3.6%, Aya Gold & Silver Inc (AYA) 2.4%, Korea Zinc Co Ltd 2.3%, Fortuna Mining Corp 2.2%, Endeavour Silver Corp (EXK) 1.6%, Silvercorp Metals Inc (SVM) 1.5%, Hochschild Mining PLC 1.4%, Triple Flag Precious Metals Corp (TFPM) 1.4%, Vizsla Silver Corp (VZLA) 0.8%, Abrasilver Resource Corp 0.8%, Gogold Resources Inc 0.8%, Americas Gold and Silver Corp 0.6%, Mcewen Inc (MUX) 0.6%, Avino Silver & Gold Mines Ltd (ASM) 0.6%, Hycroft Mining Holding Corp (HYMC) 0.5%, Kingsgate Consolidated Ltd 0.5%, Santacruz Silver Mining Ltd 0.5%, Highlander Silver Corp (HSLV) 0.5%, New Pacific Metals Corp 0.4%, Integra Resources Corp 0.3%, Silver Tiger Metals Inc 0.2%, Unico Silver Ltd 0.2%, Andean Silver Ltd 0.1%, Andean Precious Metals Corp 0.1%, Guanajuato Silver Co Ltd 0.1%, Silver Mines Ltd 0.1%, Blackrock Silver Corp 0.1%, Sotkamo Silver AB 0.1%, Aftermath Silver Ltd 0.1%.
Silver Mining Stocks: common questions
What are the top 3 silver mining stocks?
As of 12 October 2026, the three largest silver mining stocks in SIL by fund weight are Wheaton Precious Metals Corp (23.5%), Pan American Silver Corp (11.3%) and Coeur Mining Inc (CDE) (10.7%). Fund weight shows size inside the fund, not a recommendation.
Which silver mining stocks are beating the sector?
As of 12 October 2026, 5 of the 12 silver mining stocks Zensei prices in SIL beat the fund over the past month. The strongest over the past month is Compania de Minas Buenaventura Saa (BVN). The list above shows every holding with its weight and returns.
Are silver mining stocks outperforming the S&P 500?
No. As of 12 October 2026, SIL trails the S&P 500 by 12.7 points over the past month.
Is it a good time to invest in silver mining stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, silver mining stocks are ahead of the S&P 500 over the longer window but behind over the past month, a fading lead. The rotation map and the read on this page show whether that trend is building or fading.
What is SIL?
SIL is Global X Silver Miners ETF. Zensei uses it to measure silver mining stocks against the S&P 500 (SPY).
What stocks does SIL own?
As of 12 October 2026, the largest of the 39 positions Zensei tracks in SIL are Wheaton Precious Metals Corp, Pan American Silver Corp, Coeur Mining Inc, Hecla Mining Co, Industrias Penoles Sab de Cv. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is silver miners in right now?
As of 12 October 2026, silver miners is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: losing ground
Related sectors
Track silver miners against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.