Three Mining Stocks To Buy As Silver Hits All-Time High

On Tuesday, silver prices pushed past $60 per ounce to set an all-time record.

Silver reached that unprecedented price after a roughly 5% rally on Tuesday. It has been an exceptional year for silver, which generally tends to be a volatile metal. Year-to-date silver is up 104%. Much of the demand has been driven by its use in industrial settings, the widespread uncertainty in the economy, which has pushed investors away from equities, and a persistent global supply shortage.

Those three factors combined to push the price of silver to its current record levels. As silver prices spiked, those of the more precious gold sank. Gold and silver prices tend to move together, but that is not always the case. On Tuesday, the spread between gold and silver prices reached its narrowest point in more than four years.

The price of gold is currently $4,241.20 an ounce. So far in 2025, gold is up 58%.

Silver, like gold, tends to attract investors during times of economic unease. When the U.S. rattled global markets with its widespread investors fled to the perceived safety of commodities like gold and silver. This naturally pushed the price up. However, silver also benefited from a surge in demand as a result of its use in emerging technologies like electric vehicles and photovoltaics. It is used in things like semiconductors and data centers that have powered the AI boom.

Mining Stocks Approach Buy Points

Certain mining stocks have climbed alongside precious metal prices. Leading the way is Pan American Silver (PAAS), which ended the day up more than 11%. The stock closed Tuesday at an all-time high of 48.41. On the day its trading volumes soared to more than 189% above the daily average. Since the start of the year Pan American Silver stock has advanced 126%, as gold and silver prices rise.

On Tuesday two other major mining stocks – Newmont Corporation (NEM) and Wheaton Precious Metals (WPM) – flashed major buy signals. Newmont rose almost 6% and Wheaton was up just over 4%. The day's gains saw both stocks bounce off the 50-day average. That move could offer investors an early entry point.

Newmont is currently in a cup base pattern with a buy point of 98.58, according to MarketSurge. It closed Tuesday at 94.09. However, that was above an early entry level of 93.98.

Wheaton is in a cup-with-handle pattern, per MarketSurge data. It's current price of 109.27 is about 2% below its formal entry point of 111.60. Shares jumped 4% on Tuesday.