Silver Miners Near Record Low Valuations vs. Silver

If you look at this following chart of the Silver Miners ETF (SIL)/Silver ETF (SLV) price ratio… it shows that silver miners are near record lows vs. silver prices.

This morning, the SIL/SLV ratio hit a new 8-month low of 1.24 and is approaching the February 2024 all-time low of 1.10.

So far this cycle, the SIL/SLV ratio has yet to even touch the long-term average of 1.83, which shows you how early we are!

At some point in 2026, the SIL/SLV ratio is likely to return to 2.50+.

Between now and then… we strongly believe Highlander Silver (TSX: HSLV), Contango ORE (CTGO), and Minaurum Silver (TSXV: MGG) will be the top performing silver stocks.

We believe $50+ per oz silver will be permanent and even if silver trades sideways to slightly lower in 2026, shares of Highlander Silver (TSX: HSLV), Contango ORE (CTGO), and Minaurum Silver (TSXV: MGG) will be significantly higher one year from now.

Past performance is not an indicator of future returns. NIA is not an investment advisor. Always do your own research. NIA’s President has purchased 125,000 shares of HSLV and can buy or sell shares at any time. NIA’s President has purchased 5,000 shares of CTGO in the open market and intends to buy more shares. NIA has received compensation from CTGO of US$80,000 cash for a ten-month marketing contract. NIA is receiving compensation from MGG of US$100,000 cash for a twelve-month marketing contract and previously received US$60,000 cash for past marketing contracts which have since expired. This message is for informational and educational purposes only.