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Canadian (TSX) Silver Industry Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies30
  • 7D5.3%
  • 3M31.4%
  • 1Y247.8%
  • YTDn/a

In the last week, the Silver industry is up 5.3%, with First Majestic Silver up 6.8%. Meanwhile, Silver Storm Mining actually underperformed within the industry, shrinking 11% in the last week. This means that the industry has gained 248% over the past year. As for the next few years, earnings are expected to grow by 62% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026CA$38.9bCA$3.5bCA$82.6m86.2x470.3x11x
Sat, 13 Dec 2025CA$32.8bCA$3.5bCA$81.5m71.2x402.2x9.4x
Mon, 10 Nov 2025CA$23.5bCA$3.1b-CA$22,680,143.0052.6x-1036.4x7.5x
Wed, 08 Oct 2025CA$25.8bCA$2.8b-CA$21,205,530.3128.2x-1216.1x9.3x
Fri, 05 Sep 2025CA$24.1bCA$2.8bCA$121.3m22.1x198.2x8.7x
Sun, 03 Aug 2025CA$19.1bCA$2.3b-CA$84,012,573.5120.3x-226.9x8.4x
Tue, 01 Jul 2025CA$34.5bCA$7.9bCA$577.4m15.9x59.8x4.4x
Thu, 29 May 2025CA$30.2bCA$8.0bCA$607.6m12x49.8x3.8x
Sat, 26 Apr 2025CA$29.9bCA$7.3bCA$260.8m14.4x114.6x4.1x
Mon, 24 Mar 2025CA$30.6bCA$7.6bCA$313.1m17.9x97.6x4x
Wed, 19 Feb 2025CA$26.2bCA$7.2b-CA$6,367,765.1823x-4118.2x3.7x
Fri, 17 Jan 2025CA$23.7bCA$7.2b-CA$28,841,470.1521x-822.8x3.3x
Sun, 15 Dec 2024CA$24.5bCA$7.1b-CA$29,704,004.5120.8x-823.4x3.4x
Tue, 12 Nov 2024CA$25.8bCA$6.9b-CA$70,097,988.7021.6x-367.6x3.7x
Thu, 10 Oct 2024CA$24.2bCA$6.6b-CA$202,181,195.4223x-119.9x3.7x
Sat, 07 Sep 2024CA$19.7bCA$6.5b-CA$201,345,700.1917.4x-97.8x3x
Mon, 05 Aug 2024CA$22.0bCA$6.4b-CA$288,669,653.1816.1x-76.3x3.5x
Wed, 03 Jul 2024CA$21.0bCA$6.3b-CA$229,803,901.0016.5x-91.3x3.3x
Fri, 31 May 2024CA$25.0bCA$6.3b-CA$231,735,300.9919.8x-108.1x4x
Sun, 28 Apr 2024CA$21.7bCA$6.0b-CA$329,795,843.0227.5x-65.7x3.6x
Tue, 26 Mar 2024CA$16.2bCA$5.9b-CA$393,516,215.8751x-41.2x2.8x
Thu, 22 Feb 2024CA$14.2bCA$5.4b-CA$689,920,716.2829.5x-20.5x2.6x
Sat, 20 Jan 2024CA$15.1bCA$5.4b-CA$887,550,968.0031.3x-17x2.8x
Mon, 18 Dec 2023CA$17.4bCA$5.3b-CA$876,368,179.0036.9x-19.8x3.2x
Wed, 15 Nov 2023CA$14.5bCA$5.4b-CA$890,357,835.0036.3x-16.3x2.7x
Fri, 13 Oct 2023CA$15.7bCA$5.0b-CA$1,012,511,240.0036.1x-15.5x3.2x
Sun, 10 Sep 2023CA$16.5bCA$5.0b-CA$1,009,980,984.0038.5x-16.4x3.3x
Tue, 08 Aug 2023CA$17.3bCA$4.5b-CA$1,289,461,454.0059.8x-13.4x3.9x
Thu, 06 Jul 2023CA$16.2bCA$4.5b-CA$1,372,280,374.0056.9x-11.8x3.6x
Sat, 03 Jun 2023CA$17.8bCA$4.5b-CA$1,384,085,698.0065.4x-12.9x3.9x
Mon, 01 May 2023CA$20.3bCA$4.6b-CA$1,146,980,968.0075.8x-17.7x4.4x
Wed, 29 Mar 2023CA$16.7bCA$4.7b-CA$1,154,280,116.0070.7x-14.5x3.6x
Fri, 24 Feb 2023CA$14.5bCA$4.7b-CA$899,372,369.0023.2x-16.1x3.1x
Sun, 22 Jan 2023CA$17.1bCA$4.7b-CA$646,469,762.0045.2x-26.5x3.6x
Price to Earnings Ratio

-26.5x


Total Market Cap: CA$17.1bTotal Earnings: -CA$646,469,762.00Total Revenue: CA$4.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -167.5x202420252026
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 470x which is higher than its 3-year average PE of -168x.
  • The 3-year average PS ratio of 4.5x is lower than the industry's current PS ratio of 11.0x.
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 declined 9.3% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Comparison

How does Canadian Silver compare with similar industries?

CA Market1.33%
Materials4.37%
Metals and Mining4.61%
Silver5.29%
Gold5.40%
Copper2.70%
Diversified Metals and Mining2.54%
Precious Metals and Minerals1.24%
Steel1.02%
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$27.5410.8%
+CA$1.3b		241.7%PE142.6x
AYA Aya Gold & SilverCA$24.1818.4%
+CA$532.6m		100.7%PE1001.7x
EDR Endeavour SilverCA$15.5911.8%
+CA$482.5m		205.7%PS9.8x
SVM Silvercorp MetalsCA$13.9712.1%
+CA$332.7m		205.0%PE88.1x
DSV Discovery SilverCA$9.143.7%
+CA$266.6m		842.3%PE147.6x

Latest News

PSIL
CA$1.60
Pacifica Silver
7D
-1.2%
1Y
146.2%
DSV
CA$9.14
Discovery Silver
7D
3.7%
1Y
842.3%
EDR
CA$15.59
Endeavour Silver
7D
11.8%
1Y
205.7%

EDR: Terronera Commercial Production Will Support Stronger Long Term Upside Potential

Analysts have nudged their price target on Endeavour Silver slightly lower to US$15.71 from US$15.88, citing updated assumptions around higher projected revenue growth and profit margins, along with a reduced future P/E multiple. What's in the News Reported full year 2025 production of 6,486,661 silver oz and 37,164 gold oz, with total silver equivalent production of 11.2 million oz, including base metals (Key Developments).
SVM
CA$13.97
Silvercorp Metals
7D
12.1%
1Y
205.0%

SVM: Ecuador Project Progress And Index Additions Will Support Steady Outlook

Analysts have raised their price target on Silvercorp Metals by approximately $0.74 per share. They cite updated assumptions that include a higher fair value estimate, a revised discount rate, stronger revenue growth and profit margin expectations, and a lower future P/E multiple.
AYA
CA$24.18
Aya Gold & Silver
7D
18.4%
1Y
100.7%

AYA: Higher Metal Price Assumptions Will Test Cash Flow Resilience

Aya Gold & Silver's analyst fair value estimate has been revised higher to C$18.56 from C$14.15, as analysts adjust their targets to reflect updated price forecasts for gold and silver, along with revised expectations for growth, profitability and future P/E multiples. Analyst Commentary Recent Street research has pointed to higher fair value ranges for Aya Gold & Silver, with updated targets reflecting new gold and silver price assumptions as well as refreshed expectations for growth and profitability.
APM
CA$10.08
Andean Precious Metals
7D
5.4%
1Y
641.2%

APM: Steady Ore Sourcing And Expanded Drilling Will Support Balanced Prospects

Analysts have revised their price target on Andean Precious Metals to US$10.39 per share, reflecting updated assumptions around the discount rate, long term revenue growth, profit margin and future P/E multiple. What's in the News Silver Elephant Mining Corp.
AG
CA$27.54
First Majestic Silver
7D
10.8%
1Y
241.7%
IPT
CA$0.53
IMPACT Silver
7D
32.5%
1Y
140.9%

IMPACT Silver (CVE:IPT) Is Doing The Right Things To Multiply Its Share Price

Dec 29
IMPACT Silver (CVE:IPT) Is Doing The Right Things To Multiply Its Share Price
GGD
CA$3.24
GoGold Resources
7D
5.9%
1Y
129.8%

Revenues Not Telling The Story For GoGold Resources Inc. (TSE:GGD) After Shares Rise 31%

Dec 23
Revenues Not Telling The Story For GoGold Resources Inc. (TSE:GGD) After Shares Rise 31%
HAMR
CA$0.12
Silver Hammer Mining
7D
-11.1%
1Y
100.0%
MMN
CA$0.02
Monarca Minerals
7D
-20.0%
1Y
300.0%