So silver just had an absolutely wild run in early 2026 - hit over US$121 per ounce back in January, which got everyone talking about precious metals again. If you've been following the sector, you probably noticed how this price surge has been lifting up some of the best Canadian silver stocks across the TSX and TSXV. I've been watching this space pretty closely, and there are definitely some standouts worth knowing about.

What's interesting is that silver's got some real fundamentals backing it up right now. We're looking at a structural supply deficit, industrial demand is solid, and investment demand keeps climbing because silver offers that safe-haven play without the gold price tag. That combination has been pushing money into the mining side of things.

Let me walk you through five of the top Canadian silver stocks that have really performed this year. These are companies that have seen legitimate moves, not just noise.

First up is BP Silver on the TSXV - up about 56 percent year-to-date as of late March. They're working the Cosuño project in Bolivia, and they've been releasing some impressive drill results. One hole came back with 1,655 grams per ton of silver over a meter. That's the kind of grade that gets attention in the exploration space.

Highlander Silver is another one catching eyes - up over 41 percent. They've got assets across Latin America and just closed a merger with Bear Creek Mining in February. What really moved the needle was Eric Sprott throwing US$40 million into the company in January. When someone like Sprott is backing a play, people notice.

Honey Badger Silver is a bit further back at around 29 percent gains, but they just acquired the PC silver project in Canada's Northwest Territories - a permitted underground play with serious historical resources. They closed an C$11.5 million financing to fund that acquisition.

Now, if you want exposure to the bigger players among the best Canadian silver stocks, First Majestic Silver is the world's second-largest silver miner by market cap. Up about 23 percent year-to-date, they're producing serious volume - 15.4 million ounces in 2025 - and they're guiding for 13 to 14.4 million ounces in 2026. They've got four operating mines in Mexico plus their own bullion minting operation.

Finally, Silvercorp Metals - the fourth-largest silver miner globally - is up about 22 percent. They operate in China and just reported US$126.1 million in quarterly revenue, up 51 percent year-over-year. They're also building out a new satellite deposit.

The thing about this group is they've all benefited from the silver price momentum, but each has its own story. Some are pure exploration plays, others are established producers. If you're looking at the best Canadian silver stocks right now, it really depends whether you want exposure to discovery upside or production leverage. Either way, the sector's got tailwinds behind it.