Will silver rise to USD 130? First Majestic Silver, Pan American Silver, Silver North shares!

First Majestic Silver: Super bull sees silver at USD 130!

Will Keith Neumeyer be proven right in the end? The CEO of First Majestic Silver sees the price of silver at USD 100 per ounce in the longer term – perhaps even USD 130. After the spectacular rally this year, the super bull's optimism no longer seems unrealistic. He cites structural supply deficits, increasing industrial use (including solar, e-mobility, electronics), and undervaluation relative to gold as reasons for his prediction. The year 2025 gives his forecast a boost. The USD 40 mark was recently broken, marking a 14-year high. The reason for this is less the supply deficit and more the combination of geopolitical uncertainty, tariffs, and monetary policy shifts.

Interest rate speculation and a weaker dollar support the investment case, while geopolitical risks increase safe-haven demand. At the same time, optimists emphasize the supply gap in the physical market and declining inventories; some even proclaim a decoupling of gold. The data on supply, recycling, and inventories remains controversial; in addition, cyclical weaknesses in individual industry trends are dampening short-term consumption.

Neumeyer leads the silver bulls with his price target. The experts' forecast range is broad. Some market observers and fund managers believe that USD 50 is achievable in the short term and triple-digit prices are possible in the medium term. Others believe that the current level will be maintained for the time being, with upward and downward outliers. Frequent arguments for higher prices include rising government deficits, tight supply, as silver is often a by-product, and robust solar demand.

Silver North Resources: News flow as a turbo for the stock

An exciting explorer stock in the silver sector is Silver North Resources. The Canadians have several projects in the famous Yukon area.

Most recently, the completion of the 2025 exploration program on the Veronica section in southern Yukon was reported. A total of 453 soil and 26 rock samples were collected. Initial observations show the presence of galena mineralization in a geologically promising stratigraphic package. According to CEO Jason Weber, this could be indicative of a carbonate replacement deposit (CRD) system, comparable to the nearby high-grade Silvertip mine. The results tie in with older data from 2016, which had already identified a multi-element anomaly area with silver, lead, and zinc values. The identification of galena in outcrops and boulders confirms the potential, which has hardly been tested by drilling or trenching to date. The current program, therefore, represents an important step in the further evaluation of the Veronica area. Analytical laboratory results for the collected samples are expected in October.

Silver North had previously reported on the start of this year's exploration at its flagship Haldane project in the historic Keno Hill District. Approximately 2,500 meters of diamond drilling is planned in ten holes at four locations. It is accessible by road and directly adjacent to Hecla Mining's producing Keno Hill Mine. High-grade silver veins with considerable thicknesses have already been identified, including sections with up to 1,088 g/t silver and significant amounts of gold, lead and zinc. The new drilling program is intended to expand the zone further. In addition, drilling could follow at Bighorn, where silver-bearing quartz-siderite-galena veins have already been identified. The work is scheduled for completion by the end of October 2025.

This should generate further news flow in the coming weeks and drive the stock higher.

Pan American: Billion-dollar acquisition and Buy recommendation

Pan American Silver ranks among the world's major silver producers, with operations and exploration projects across North and South America, including Mexico, Peru, Chile, Argentina, Bolivia, and Brazil. Recently, the Company has been in the spotlight primarily due to its acquisition of MAG Silver, which secures Pan American a 44% stake in the Juanicipio project in Mexico. It is considered low-cost and high-grade, which fits in well with Pan American's strategic orientation. The Company paid USD 2.1 billion for it.

Pan American reported record results for Q2 2025, producing 5.1 million ounces of silver, generating record cash flow, and raising its dividend by 20%. In addition, the Company announced the discovery of several new high-grade silver zones at its La Colorada mine.

Analysts rate the Company positively overall. According to marketscreener.com, 6 out of 9 analysts recommend buying the stock. RBC Capital Markets recently raised its price target for Pan American Silver from USD 34 to USD 42, maintaining its "Outperform" rating. The stock is currently trading between USD 36 and USD 37.

Silver continues to have a bright future ahead of it. Shares in producers and explorers should benefit from this. At Silver North Resources, the expected positive news flow could serve as an additional boost to the share price. Pan American and First Majestic are among the core investments.