Eric Sprott does not run a quiet book. When 2176423 Ontario Ltd., the private company through which he typically reports purchases, writes a cheque, the junior-mining tape notices. That reflex is rational and dangerous at the same time. It is rational because Sprott has spent decades concentrating personal capital in gold and silver equities, often at the exploration and restart end of the curve. It is dangerous because junior mining stocks can fall 50% or more even when the metal is rising, because his filings lag the market, and because his risk tolerance is not a retail investor’s risk tolerance.
This article is a filing-based survey of Eric Sprott mining investments as they stood in public records through late August 2026. It is not a list of Eric Sprott stock picks to buy. It is not investment advice. Junior miners can go to zero. Past performance is not indicative of future results.
Who Eric Sprott Is — and What He Is Not
Eric Sprott is a Canadian resource investor and the founder of the firm that became Sprott Inc. Forbes, in a May 2026 profile, estimated his fortune near $3.3 billion, down from a peak it put near $4.6 billion, and wrote that about 98% of that fortune sat in gold and silver. The same piece said he held stakes in roughly 120 mining outfits but was concentrated in fewer than ten. Those two facts — extreme concentration in precious metals, and a long tail of smaller tickets — are the shape of the Eric Sprott portfolio.
He is not the same legal person as Sprott Asset Management or Sprott Inc.’s 13F book. The institutional 13F filed for the period ended June 30, 2026, showed large positions in names such as Sprott Inc. itself, Sprott Focus Trust, Agnico Eagle Mines, Coeur Mining, Wheaton Precious Metals, Equinox Gold, Pan American Silver, and others. That is a regulated asset manager’s U.S.-reportable book. Eric Sprott’s personal Canadian early-warning reports and SEDI filings are a different pile of paper. Mixing them is how “Sprott is buying Agnico” becomes a headline that does not describe the man whose name is on the junior private placements.
Sprott-branded ETFs are a third pile. The Sprott Silver Miners & Physical Silver ETF (SLVR), as of August 27, 2026, was weighted toward First Majestic, the Sprott Physical Silver Trust, Aya Gold & Silver, Wheaton, Endeavour Silver, Silvercorp, AbraSilver, Americas Gold and Silver, and a long list of smaller silver equities. Those weights are index-and-mandate decisions, not Eric Sprott’s personal ticket sizes.
This article focuses on the personal book: 2176423 Ontario Ltd., early-warning reports, SEDI transactions, Form 4s where they exist, and company press releases that name him as a subscriber.
How to Read the Eric Sprott Portfolio Without Fooling Yourself
Canadian early-warning reports trigger around 10% ownership and at subsequent 2% moves. Many of Sprott’s smaller tickets never appear in that system. SEDI captures insider-style filings when he is a reporting insider or a 10% holder. U.S. Form 4s capture some Hycroft activity. Press releases capture private placements. No single screen is complete.
Share counts go stale. A GuruFocus compilation dated August 28, 2026, still carried some positions off last-reported transaction dates from 2024 and 2025. Market prices move daily. Percentage ownership changes when companies issue stock. Treat every figure below as “last publicly reported,” not as a live blotter.
Sprott’s own early-warning language is almost boilerplate and should be taken at face value: securities are held for investment purposes; he has a long-term view; he may buy more or sell depending on market conditions. That is not a promise to average down. It is not a promise not to sell.
The Concentration Problem: A Few Names Do Most of the Work
Forbes’s May 2026 reporting put Hycroft Mining Holding Corp. as Sprott’s largest personal investment at the time, a stake it valued around $1.3 billion, built from a 2019 entry into a debt-heavy Nevada gold-silver project that had not yet been producing when he first wrote the cheque. Discovery — later referred to in some 2026 databases as Discovery Mining Ltd. and long known to the market as Discovery Silver — was described as the second-largest holding after a 2025 Ontario gold-project acquisition that re-rated the stock.
A GuruFocus holdings table updated around August 28, 2026, listed 36 stocks in one compilation and ranked Discovery, Jaguar Mining, Freegold, and Andean Precious Metals among the largest Canadian-line items by marked value at then-current prices. A separate GuruFocus file focused on Hycroft showed about 37.4 million HYMC shares as of an April 24, 2026 Form 4, when he added 100,000 shares. Those databases do not always reconcile with one another in real time. They do agree on the shape: a short list of large, concentrated bets, then a swarm of junior tickets.
That is the opposite of a diversified “best mining stocks 2026” ETF. It is a personal balance sheet that can tolerate a name going to zero because another name went up tenfold. Most readers cannot underwrite that.
Hycroft Mining: The Anchor of the Personal Book
Hycroft (NASDAQ: HYMC) is the holding that most clearly answers “which mining stocks has Eric Sprott invested in” at scale. The Nevada project’s size, not its smoothness, is the point of the story Sprott has told in interviews over the years. Forbes noted that the shares had soared since the start of 2025 even though active operations were still early and the company had a long history of debt and restart risk.
A large, concentrated, still-developing gold-silver asset in a single U.S. jurisdiction is not a beginner’s mining stock. Grade, recoveries, permitting, funding, and execution can each reset the equity. Sprott’s continued buying, including the April 2026 add, is a data point about his conviction. It is not evidence that the next buyer will be paid for waiting.
Junior Mining Network’s late-August 2026 tracker still listed Hycroft among companies in the Sprott orbit, with a market capitalization in the multi-billion-dollar range after the 2025–2026 re-rating. Market caps in that tape move with the metal and with sentiment. They are not intrinsic value.
Discovery: From Silver Explorer to a Larger Canadian Mining Stock
Discovery’s path is the other core chapter. Sprott backed the company when it was a silver-focused explorer with Cordero in Mexico. The January 2025 purchase of a large Ontario gold project, as Forbes recounted, changed the equity’s identity and the value of his stake. By 2026 some ownership tables still showed tens of millions of shares and a position large enough to dominate one compilation of his Canadian holdings.
Institutional holders in 2026 also included Newmont and large gold-equity funds. That mix — a founder-style early backer plus senior-producer and ETF money — is what happens when a junior becomes a mid-tier Canadian mining stock. It does not remove project, permitting, or metals-price risk. It does change liquidity and who the next seller might be.
Readers looking at Discovery as an “Eric Sprott silver stock” should note the evolution. The company is no longer only a silver story. Treating it as a pure silver proxy is a category error.
Eric Sprott Silver Stocks: The Names That Keep Recurring
Silver is the metal most closely identified with Eric Sprott silver investments. The personal book in 2026 still showed repeated activity in silver developers, restarters, and producers.
AbraSilver Resource (TSX: ABRA) appeared on Junior Mining Network’s late-August list of companies Sprott has invested in, with a market capitalization in the multi-billion Canadian-dollar area after the silver bull market of 2025–2026. Americas Gold and Silver (TSX: USA / USAS) sat in the same neighborhood of the tracker. Highlander Silver (TSX: HSLV) was another mid-cap silver name on that list.
Blackrock Silver (TSXV: BRC) showed SEDI activity into 2025 and a large share count in holdings compilations. Silverco Mining (TSXV: SICO) appeared both as a warrant-exercise name in May 2026 and as a mid-hundreds-of-millions-dollar company on the JMN roster. Outcrop Silver, Kootenay Silver, Honey Badger Silver, and Silver Storm are further down the curve: smaller, more speculative, and more dependent on the next financing.
Silver Storm Mining (TSXV: SVRS) was the most recent high-visibility cheque. On August 21, 2026, the company announced a C$7.5 million non-brokered placement of 15 million units at C$0.50, with Sprott subscribing for the entire announced ticket to fund drilling at the La Parrilla silver complex in Durango, Mexico. By August 26 the first tranche of a larger upsized raise had closed at C$14.625 million, and the company said 2176423 Ontario Ltd. then beneficially owned about 110.8 million shares and 20.8 million warrants, or roughly 12.9% non-diluted and 15.0% partially diluted. That is a classic Sprott pattern: back a restart, take paper and warrants, accept dilution as the price of keeping the lights on.
None of these Eric Sprott silver stocks is a recommendation. Silver equities leverage the metal in both directions. August 2026 already showed how fast silver can rally toward $70 and then give back several dollars on a Federal Reserve speech. Equity beta is larger than that.
Canadian Gold Juniors and Mid-Tiers in the Book
The gold side of Eric Sprott junior miners is not a single theme. Jaguar Mining (TSX: JAG) is a producing Brazilian operator that appeared as a 10% holding in some compilations, with more than 33 million shares last reported. Freegold Ventures (TSX: FVL) is an Alaska-focused explorer with a very large share count in older filings — more than 131 million shares in one table — which means percentage ownership and per-share value can diverge from headline share counts.
Amex Exploration / Amex Gold Mining (TSXV: AMX) is a Quebec gold story that has been in the book for years. Heliostar Metals (TSXV: HSTR) is a Mexico-centered gold name with a large last-reported share position. New Found Gold (TSX: NFGC) remains on the JMN “companies Sprott has invested in” list as a Newfoundland gold explorer whose market cap and narrative have swung with drill results more than with quarterly cash flow. Lavras Gold, Westhaven, and other smaller TSX Venture names populate the tail.
Goldgroup Mining appeared in a July 20, 2026 early-warning-style release after a plan of arrangement with Gold Resource Corporation. Sprott’s vehicle received additional Goldgroup shares in the exchange and reported about 10.1 million shares plus warrants, or roughly 7.5% non-diluted and 10.1% partially diluted — a decrease in percentage terms from the prior report. That filing is a useful reminder: not every “Sprott headline” is an increase. Mergers, conversions, and dilution cut the other way.
Andean Precious Metals and the Fact That He Also Sells
Andean Precious Metals (TSX: APM) belongs in any honest survey because it breaks the myth that the Eric Sprott portfolio only grows. SEDI-style records in September 2025 showed open-market and other dispositions, including a large block. Holdings tables in 2026 still listed tens of millions of shares, but the path was not one-way.
That matters for readers who treat every historical buy as a permanent endorsement. Insiders and 10% holders sell for taxes, for rebalancing, for opportunity cost, and because a thesis is complete. A 2024 buy date on a table is not a 2026 buy signal.
MAX Power: The Non-Precious-Metals Exception That Still Fits the Pattern
Not every 2026 ticket was gold or silver. On August 24–25, 2026, MAX Power Mining (CSE: MAXX) said Sprott’s vehicle had exercised 12,138,548 warrants for about C$6.0 million, lifting beneficial ownership from 19.32% to 47,123,527 shares, or 24.35% of 193.5 million shares outstanding, with 16.5 million warrants still behind. Shareholders had already approved a control-person resolution so he could keep accumulating without triggering a formal takeover bid.
MAX Power is a Saskatchewan natural-hydrogen explorer, not a silver miner. The structure of the trade is still pure Sprott: early paper, warrants, a control-person threshold, and a willingness to own a quarter of a pre-revenue story. Hydrogen exploration risk is not gold-deposit risk. Lumping MAXX into “Eric Sprott silver investments” would be inaccurate. Including it in Eric Sprott investments 2026 is mandatory if the question is what he is actually funding.
SEDI also showed 2026 activity in Manganese X Energy and Benton Resources — small, speculative Canadian names that illustrate the tail of the book. Those tickets can be rounding errors for him and portfolio-defining for a retail account that copies the last press release.
Which Junior Miners Does Eric Sprott Own?
There is no complete public list. The workable answer is a stack of buckets.
Bucket one: large, long-held concentrated positions reported as 10% holdings or close to it at various dates — Hycroft, Discovery, Jaguar, Freegold, and, at times, Andean, Blackrock Silver, Silver Storm, MAX Power, Cerro de Pasco, Heliostar, Amex, Silverco, Erdene, 1911 Gold, Honey Badger, Kootenay.
Bucket two: companies on industry trackers such as Junior Mining Network’s “companies Eric Sprott has invested in,” which in late August 2026 also included AbraSilver, Americas Gold and Silver, Highlander Silver, New Found Gold, Outcrop Silver, Lavras Gold, and others. Presence on that list means a historical or current investment, not necessarily a current 10% stake.
Bucket three: 2026 flow. Warrant exercises and placements in MAX Power, Silver Storm, Silverco, Honey Badger, Goldgroup (via merger), Storm Exploration (a C$2 million investment reported August 21, 2026), Benton, and Manganese X.
If a name is not in an early-warning report this month, he may still own it. If a name was in a 2021 filing, he may have sold it. Verify on SEDAR+, SEDI, EDGAR, and the company’s last news release before treating any ticker as current.
Which Mining Stocks Has Eric Sprott Invested In?
Beyond the juniors, the public record over the past several years has included Dolly Varden Silver, Apollo Silver (a January 2026 PIPE in PitchBook’s deal list), Tudor Gold, Excellon, and a long series of private placements that never became household tickers. Forbes’s “120 mining outfits” line is the right order of magnitude even if no journalist can name all 120 from memory.
The institutional Sprott complex separately owns or has owned senior Canadian mining stocks such as Agnico Eagle, Wheaton, Pan American, and IAMGOLD inside funds and 13F accounts. Those are relevant to people who buy Sprott-branded products. They are not a substitute for the personal early-warning file.
Junior Mining Stocks to Watch — A Framework, Not a Shopping List
The phrase “junior mining stocks to watch” is doing too much work in most coverage of Sprott. Watching is not owning. A watchlist built from his flow can be a research queue. It should not be a buy list.
A filing-based watch process looks like this.
Read the last early-warning report, not the headline. Note non-diluted versus partially diluted ownership, warrant coverage, and whether the percentage rose because he bought or because the share count fell.
Read the use of proceeds. Silver Storm said the August money was for surface and underground drilling at La Parrilla and for working capital. That is a restart-and-drill ticket. MAX Power said warrant proceeds accelerate a hydrogen delineation program. Different commodity, different failure modes.
Read the cap table. A 24% holder who can keep buying under a control-person resolution changes governance and float. A 5% holder in a fully funded producer does not.
Read the metal. Eric Sprott silver stocks live and die with silver’s industrial-and-monetary tape. Gold juniors live and die with ounces, grades, and the gold price. Hydrogen and manganese names do not hedge either metal.
Read liquidity. Many TSX Venture names in the book trade thinly. A retail order that is small for Sprott can be the day’s volume.
Then decide whether the equity belongs in your account at all. For most people, the honest answer to “best mining stocks 2026” is not a C$0.50 unit with half a warrant. It is a diversified producer, a royalty, physical metal, or nothing. That is a suitability point, not a prediction about which junior will work.
Why Canadian Mining Stocks Dominate the Book
Sprott is Canadian. The exchanges he uses — TSX, TSX Venture, CSE — are where junior gold and silver issuers raise money. Private placements with warrants are the native financing tool of that market. Early-warning reports are the native disclosure tool. That is why Eric Sprott investments cluster in Canadian mining stocks even when the rocks are in Mexico, Nevada, Brazil, Mongolia, or Saskatchewan.
Jurisdiction still matters. Mexico hosts La Parrilla, Cordero’s original silver identity, Blackrock’s exploration story, and several other names in the orbit. Nevada hosts Hycroft. Brazil hosts Jaguar. Canada hosts Discovery’s Ontario gold leg, Amex, New Found Gold, and MAX Power. A single personal portfolio therefore carries political, permitting, community, and currency risk across several countries. Copying “the Sprott book” as if it were one Canada-only trade misses that.
The 2026 Tape Around These Names
Precious-metals equities in 2026 have already lived through a January blow-off in gold and silver, a violent correction after the Warsh Fed nomination, a midyear grind, and an August rebound that ran into another hawkish Fed speech on August 28. High-beta silver developers moved more than the metal in both directions. That is the operating environment for Eric Sprott mining investments this year, not a smooth bull market.
Sprott has, in past interviews and secondary coverage, discussed much higher silver prices as a cycle scenario, including figures far above the 2026 spot market. Scenario talk from a concentrated holder is not a price target, and it is not research a fiduciary can lean on without independent work. If silver is $66 and someone on the internet says $150, the equity math can look like a lottery ticket. Lottery tickets expire worthless more often than they pay.
Risks Specific to Following a Celebrity Resource Investor
Capacity. He can own 20% of a company and still sleep. A follower who puts 20% of a retirement account in the same name is running a different experiment.
Information lag. By the time a placement closes and a press release hits, the stock has often already moved.
Warrants. Many of his tickets include warrants. Followers who buy only common shares in the open market do not have the same payoff profile.
Dilution. The companies he funds issue stock. Ownership percentages and per-share value can fall while the project gets funded. That can be good for the mine and bad for the last buyer of common.
Key-person and crowding risk. A known 10% holder who sells, or who simply stops showing up in the next raise, can remove the bid that late arrivals assumed was permanent.
Commodity risk. Gold, silver, and hydrogen are not one market. A correct silver thesis does not save a hydrogen duster.
Fraud, execution, and geology risk. Juniors fail for ordinary reasons: the hole is barren, the permit is late, the mill does not work, the community blockade holds. Famous backers do not inoculate a deposit.
People Also Asked
Which junior miners does Eric Sprott own?
Public records in 2026 repeatedly tied him to Hycroft, Discovery, Jaguar, Freegold, Andean Precious Metals, Blackrock Silver, Silver Storm, Silverco, Highlander Silver, Americas Gold and Silver, AbraSilver, Amex, Heliostar, New Found Gold, MAX Power, Cerro de Pasco, Erdene, Honey Badger Silver, 1911 Gold, Goldgroup, and a longer tail of TSX Venture issuers. Ownership percentages change. Confirm on SEDAR+ and SEDI.
Which mining stocks has Eric Sprott invested in?
The same list, plus historical placements in names such as Dolly Varden, Apollo Silver, Tudor Gold, Excellon, Benton, Manganese X, Storm Exploration, and many others disclosed over years of early-warning reports. The institutional Sprott complex separately holds senior producers inside funds. That is not his personal blotter.
What Investors Should Actually Watch
If the goal is to watch rather than to imitate, the useful objects are not tickers. They are documents.
Watch early-warning reports for 2% changes in the large holdings. Watch SEDI for open-market selling in names he previously only bought. Watch whether new money is going into producers, restarters, or greenfield hydrogen. Watch warrant expiry calendars, because exercises can be liquidity events for the issuer and dilution events for other holders. Watch the metal. A book that is 98% gold and silver will mark to market with the Fed and with industrial silver demand whether or not the next drill hole is pretty.
That is a research program. It is not a substitute for a financial plan.
Conclusion
Eric Sprott’s 2026 mining book is still what it has been for years: a concentrated precious-metals fortune, a handful of large personal bets, and a continuous drip of junior financings. The names that mattered most in public filings through late August were Hycroft and Discovery at the top, a cluster of Canadian and Mexico-facing silver and gold equities in the middle, and fresh cheques into Silver Storm and MAX Power at the edge.
Which stocks should investors watch? Watch the filings. Watch the metal. Watch whether a company can fund a mine without destroying the equity. Do not watch Sprott’s last placement and call it due diligence.
Canadian mining stocks in the junior tier are speculative. Eric Sprott investments can be a map of where one experienced buyer is willing to take geological and financing risk. They are not a recommended portfolio. Anyone who treats them as Eric Sprott stock picks ready to copy is accepting his drawdowns without his capital, his access, or his time horizon.
Important information
This article is for informational and educational purposes only. It does not constitute investment advice, tax advice, legal advice, or an offer, solicitation, or recommendation to buy, sell, or hold any security, including any stock mentioned. Holdings attributed to Eric Sprott, 2176423 Ontario Ltd., Sprott Inc., Sprott Asset Management, or Sprott-branded ETFs are taken from third-party compilations, company press releases, SEDI, SEDAR+, Form 4, and 13F sources available as of late August 2026 and may be incomplete, lagged, or superseded. Share counts, percentages, and market values change. Junior mining and exploration companies involve a high risk of loss, including the possible loss of the entire amount invested. Forward-looking statements about projects, metals prices, and potential returns are uncertain and may prove incorrect. Readers should verify primary filings and consult a licensed adviser before making decisions. The author and publisher accept no liability for actions taken on the basis of this article. Past performance is not indicative of future results. This communication does not consider any individual’s objectives or financial situation.