‘Silver Lining’ Emerges as Precious Metal Gains Momentum. 3 Stocks With Bullish Technicals.

Silver’s recent move has captured the spotlight. (Ore Huiying/Bloomberg)

Key Points

• Silver has outperformed gold over the last three months, with its ETF rising 24%, driven by industrial demand and a high gold-to-silver ratio.
• Wheaton Precious Metals has increased 92% year to date, with a potential target of $127 by year-end based on current chart patterns.
• Hecla Mining has surged over 140% year to date, with a recent breakout suggesting a measured target of $16 by early 2026.

Gold has delivered strong performance in 2025, benefiting from a weak dollar and persistent geopolitical tensions. But it’s silver that has now captured the spotlight.

Indeed silver has now overtaken gold, judging by the iShares Silver Trust and SPDR Gold Shares. Over the last three-month period, the silver ETF has risen 24%, almost doubling the advance of its gold counterpart. This could be due to its industrial appeal with demand for solar, electric vehicles, and electronic sectors on the rise. Additionally, the gold to silver ratio—measuring the ounces of silver it takes to buy an ounce of gold—is high by historical standards: the current ratio is around 85x compared with a ~55x average over the last 100 years. This is a good sign that silver prices could still have runway to move higher, even as silver nears all time highs near $50 made back in 1980, the precious metal is at a big inflection point. Let’s look at a couple names that look poised to benefit.

The iShares Silver Trust closed at $41.86 Friday.

The silver ETF’s return this week caught gold for first time in 2025.

Wheaton Precious Metals, a diversified precious metals streaming company, has soared 92% year to date and offers a modest 0.6% dividend yield. The stock is trading just 2% below its all-time high and has shown remarkable consistency, posting declines in only nine weeks this year. A breakout above the $64.07 double bottom pivot in February set the stage for sustained momentum, followed by a clean bull flag breakout in July. Currently, WPM is forming yet another bullish flag pattern, despite a brief hiccup on Aug. 8, when a bearish filled in candle emerged at the very round $100 level. Friday’s breakout above the $109 trigger targets a measured move to $127 by year-end.

Wheaton Precious Metals closed at $109.04 Friday.

After a brief rejection at the $100 level, WPM appears more confident above it now.

Hecla Mining, a gold and silver producer operating across the U.S. and Canada, has surged over 140% year to date, offering a small 0.2% dividend yield. After trading in a tight range from November through August, the stock decisively broke out above a bullish inverse head and shoulders pattern on Aug. 8, fueled by an 18% gap following a strong earnings report. Since then, Hecla has gained in seven of the past eight weeks, including two impressive weekly gains of 24% and 33%. The stock is setting up once again with a bull flag forming, presenting a clear entry point above the $12 trigger. A breakout above there could propel the stock toward a measured target of $16 by early 2026.

Hecla Mining closed at $11.67 Friday.

Hecla Mining’s tight consolidation after big run suggests its next move could be higher.

Triple Flag Precious Metals , a Canadian gold and silver streaming and royalty company, has delivered an impressive 88% return in 2025 while offering a 0.8% dividend yield. The stock currently trades just 3% below its 52-week high and has maintained notable resilience, never falling for more than two consecutive weeks all year. Triple Flag broke out decisively from a double bottom pivot at $22.17 on June 2, surging over 5%. It then surpassed a $25.46 cup base breakout trigger on Aug. 7, gaining 7.5%. A new bull flag began with a precise retest of that breakout on Aug. 19. A breakout above the $29 bull flag pivot projects a measured move to $33 by late Q4.

Triple Flag Precious Metals closed at $28.63 Friday.

Higher highs and higher lows for TFPM since start of 2025 portend good things into year end.

Write to Doug Busch at douglas.busch@barrons.com