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Canadian (TSX) Silver Industry Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies30
  • 7D9.9%
  • 3M12.5%
  • 1Y254.5%
  • YTDn/a

In the last week, the Silver industry is up 9.9%, with First Majestic Silver up 11%. In the last 12 months, the industry was up 254%. Looking forward, earnings are forecast to grow by 35% annually.

Industry Valuation and Performance

Has the Canadian Silver Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Apr 2026CA$39.3bCA$4.8bCA$349.7m38.5x112.3x8.2x
Wed, 04 Mar 2026CA$51.7bCA$4.5bCA$230.3m44.5x224.5x11.5x
Fri, 30 Jan 2026CA$48.1bCA$3.4bCA$78.8m106.1x610.5x14x
Sun, 28 Dec 2025CA$34.5bCA$3.5bCA$80.4m75.3x428.6x9.9x
Tue, 25 Nov 2025CA$23.6bCA$3.6bCA$87.8m58.7x268.4x6.6x
Thu, 23 Oct 2025CA$24.5bCA$2.8b-CA$21,155,737.5925.6x-1157.3x8.8x
Sat, 20 Sep 2025CA$20.9bCA$2.7b-CA$21,764,072.4821.7x-959.6x7.6x
Mon, 18 Aug 2025CA$21.4bCA$2.7bCA$108.4m20.8x197x7.8x
Wed, 16 Jul 2025CA$20.7bCA$2.3b-CA$81,398,130.1219x-253.8x9.2x
Fri, 13 Jun 2025CA$35.9bCA$7.9bCA$576.7m15.9x62.3x4.6x
Sun, 11 May 2025CA$30.6bCA$8.0bCA$639.8m15.4x47.8x3.8x
Tue, 08 Apr 2025CA$24.9bCA$7.5bCA$270.2m12.8x92x3.3x
Thu, 06 Mar 2025CA$26.7bCA$7.5bCA$222.0m38.6x120.1x3.5x
Sat, 01 Feb 2025CA$26.6bCA$7.3b-CA$28,210,511.2721.8x-943.7x3.7x
Mon, 30 Dec 2024CA$22.8bCA$7.2b-CA$28,788,493.8919.2x-792x3.2x
Wed, 27 Nov 2024CA$24.3bCA$7.0b-CA$38,239,028.6617.1x-634.8x3.4x
Fri, 25 Oct 2024CA$29.2bCA$6.7b-CA$203,465,171.3925.5x-143.3x4.4x
Sun, 22 Sep 2024CA$23.6bCA$6.5b-CA$200,834,519.9821.4x-117.5x3.6x
Tue, 20 Aug 2024CA$22.1bCA$6.6b-CA$198,367,543.0419.7x-111.2x3.4x
Thu, 18 Jul 2024CA$25.8bCA$6.3b-CA$229,997,144.9618.6x-112.3x4.1x
Sat, 15 Jun 2024CA$21.8bCA$6.3b-CA$230,517,417.1617x-94.7x3.5x
Mon, 13 May 2024CA$23.0bCA$6.3b-CA$248,043,352.7320.5x-92.7x3.7x
Wed, 10 Apr 2024CA$21.3bCA$5.9b-CA$329,092,703.3726.7x-64.8x3.6x
Fri, 08 Mar 2024CA$15.6bCA$5.9b-CA$406,334,574.4034.6x-38.4x2.7x
Sun, 04 Feb 2024CA$15.1bCA$5.4b-CA$886,703,334.0030.7x-17x2.8x
Tue, 02 Jan 2024CA$17.4bCA$5.3b-CA$877,860,833.0035.8x-19.9x3.3x
Thu, 30 Nov 2023CA$17.8bCA$5.4b-CA$883,210,346.0039.1x-20.1x3.3x
Sat, 28 Oct 2023CA$16.3bCA$5.0b-CA$1,020,513,954.0036.5x-16x3.2x
Mon, 25 Sep 2023CA$16.2bCA$4.9b-CA$1,001,391,538.0038.2x-16.1x3.3x
Wed, 23 Aug 2023CA$16.9bCA$4.9b-CA$1,085,847,800.0040.9x-15.6x3.4x
Fri, 21 Jul 2023CA$18.1bCA$4.4b-CA$1,363,539,318.0059.7x-13.3x4.1x
Sun, 18 Jun 2023CA$16.7bCA$4.4b-CA$1,365,690,037.0061.4x-12.2x3.8x
Tue, 16 May 2023CA$18.9bCA$4.6b-CA$1,362,506,714.0062.5x-13.8x4.1x
Thu, 13 Apr 2023CA$21.8bCA$4.6b-CA$1,141,587,656.0081.6x-19.1x4.7x
Price to Earnings Ratio

-19.1x


Total Market Cap: CA$21.8bTotal Earnings: -CA$1,141,587,656.00Total Revenue: CA$4.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -135.1x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Silver industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 112x which is higher than its 3-year average PE of -135x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 8.2x.
Past Earnings Growth
  • Total earnings for the Silver industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Comparison

How does Canadian Silver compare with similar industries?

CA Market3.31%
Materials8.47%
Metals and Mining9.53%
Silver9.95%
Copper10.28%
Gold10.19%
Precious Metals and Minerals8.57%
Diversified Metals and Mining6.35%
Steel3.55%
Aluminum0%0
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AG First Majestic SilverCA$30.4311.3%
+CA$1.5b		293.2%PE65.4x
DSV Discovery SilverCA$9.6315.3%
+CA$1.0b		480.1%PE52.4x
AYA Aya Gold & SilverCA$22.1915.6%
+CA$427.7m		145.5%PE49.9x
EDR Endeavour SilverCA$13.3010.6%
+CA$378.5m		184.2%PS6x
SVM Silvercorp MetalsCA$15.319.6%
+CA$295.9m		225.1%PS6.6x

Latest News

APM
CA$6.85
Andean Precious Metals
7D
8.6%
1Y
411.2%

APM: Refined Earnings Assumptions And Production Profile Will Support Future Upside

Analysts have trimmed their price target on Andean Precious Metals to CA$14 from CA$15, reflecting updated views on revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Analysts are recalibrating expectations for Andean Precious Metals, with the new CA$14 price target indicating refined views on earnings power and how much investors may be willing to pay for that earnings stream through the P/E multiple.
AG
CA$30.43
First Majestic Silver
7D
11.3%
1Y
293.2%
DSV
CA$9.63
Discovery Silver
7D
15.3%
1Y
480.1%
AYA
CA$22.19
Aya Gold & Silver
7D
15.6%
1Y
145.5%
NUAG
CA$6.02
New Pacific Metals
7D
14.4%
1Y
336.2%
EDR
CA$13.30
Endeavour Silver
7D
10.6%
1Y
184.2%

EDR: 2026 Production Ramp Up Is Expected To Unlock Further Upside

Analysts have kept their CA$23.10 price target for Endeavour Silver unchanged, citing only very small adjustments to inputs such as the discount rate, long term revenue growth, profit margin assumptions and future P/E. Taken together, these factors support a steady view of fair value at this stage.
TUF
CA$0.26
Honey Badger Silver
7D
-3.8%
1Y
183.3%
SVM
CA$15.31
Silvercorp Metals
7D
9.6%
1Y
225.1%

SVM: Ecuador Cost Revisions And El Domo Timeline Will Drive Upside

Analysts now see Silvercorp Metals' fair value holding around CA$18.94 per share, with recent CA$0.50, CA$1.00, CA$4.50 and CA$5.00 target changes reflecting refreshed views on growth, margins and future P/E assumptions across the latest research updates. Analyst Commentary Street research around Silvercorp Metals has recently included both higher and lower price targets, along with at least one downgrade, which signals that not every analyst is comfortable with the current risk and reward trade off.
GGD
CA$2.69
GoGold Resources
7D
10.2%
1Y
85.5%
MMN
CA$0.01
Monarca Minerals
7D
-33.3%
1Y
0%