Silver just hit some crazy numbers in early 2026 - we're talking triple digits that haven't been seen in decades. That US$121 peak in January got a lot of people looking at silver miners, especially up here in Canada where there are some solid plays on the TSX and TSXV.

The thing is, silver's still trading way above where it was 40 years ago even after pulling back recently. You've got structural supply issues supporting prices, industrial demand staying strong, and investors treating it as a cheaper alternative to gold when they want safe-haven assets. That's created some real opportunities for Canadian silver stocks.

I was checking the performance data from late March, and a few names really stood out. BP Silver on the TSXV was up over 56 percent year-to-date. They're working the Cosuño project in Bolivia and just released some impressive drill results - we're talking grades like 1,655 grams per ton silver over a meter. Started the year at C$0.62 and climbed to C$0.93 by late January before hitting C$1.32 in early March.

Highlander Silver caught my attention too with a 41 percent gain. They've got the Mercedes mine in Mexico producing gold and silver, plus the Corani project in Peru. What really moved the needle was Eric Sprott putting in a US$40 million investment in late January. That kind of backing from someone like Sprott usually signals confidence. Share price went from C$5.46 at the start of the year to over C$10 by early March.

Honey Badger Silver was up nearly 29 percent, sitting around C$0.285. They just closed a C$11.5 million private placement to fund their acquisition of the PC silver project in the Northwest Territories - that's a permitted underground project with serious historical resources already in place.

The bigger players also benefited. First Majestic Silver, the world's second-largest silver miner by market cap, climbed 23 percent. They produced 15.4 million ounces of silver last year and are guiding for 13 to 14.4 million ounces in 2026. Stock went from C$22 to over C$43 by late February.

Silvercorp Metals rounded out the top performers with a 21 percent gain. They're the fourth-biggest silver miner globally, operating in China, and just reported quarterly revenue up 51 percent year-over-year. Hit C$18.96 by late February.

If you're looking at the best silver stocks Canada has to offer right now, these are the names showing real momentum. The silver story isn't over - supply constraints and industrial demand are still there, and that's keeping the entire sector interesting to watch.