Just been looking at how Canadian silver stocks have been absolutely crushing it since silver's wild run earlier this year. When silver hit that US$121.62 per ounce back in January, it wasn't just a price spike—it triggered a whole wave of attention on some seriously underrated miners, especially the ones trading on TSX, TSXV and CSE.

The structural supply deficit for silver is real, and we're seeing both industrial demand and investment inflows treating it as a cheaper gold alternative. That combo has been lifting a lot of boats in the Canadian silver stocks space. Let me break down the five that have performed best year-to-date based on data from late March.

BP Silver on TSXV is up 56% so far, sitting at around C$46.1 million market cap. They're running the Cosuño project in Bolivia and just released some pretty solid drill results—one hole came back with 600.4 g/t silver over 5 meters. That's the kind of grade that gets people's attention.

Highlander Silver caught a massive bid after Eric Sprott dropped US$40 million into the company in January. They're up 41% and now trading around C$7.63. They've got the Mercedes mine in Mexico and are advancing projects in Peru. The San Luis gold-silver project is supposedly one of the highest grade resources in the sector.

Honey Badger Silver is up almost 29% with a C$31.93 million market cap. They just closed an C$11.5 million placement to fund their newly acquired PC silver project in the Northwest Territories. That's positioned them nicely for some serious exploration upside.

First Majestic is the heavyweight here—world's second largest silver miner by market cap. They're up 23% and trading at C$28.77. Running four mines in Mexico plus their bullion operation, they've got 13 to 14.4 million ounces of silver production guidance for 2026.

Silvercorp Metals rounds out the top five, up 22% and valued at nearly C$3 billion. They operate in China and just reported a 51% revenue jump to US$126.1 million in their latest quarter, though silver production was down slightly.

What's interesting is these canadian silver stocks have been riding both the commodity cycle and solid fundamentals. If you're looking at exposure to silver without buying the metal itself, this sector's worth monitoring on Gate or your local exchange. The supply-demand story isn't going away anytime soon.