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Canadian (TSX) Silver Industry Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies30
  • 7D3.4%
  • 3M66.6%
  • 1Y249.4%
  • YTDn/a

The Silver industry is up 3.4% in the last week, with First Majestic Silver up 4.1%. In the same time, Apollo Silver was down 10%. In the last 12 months, the industry was up 249%. Looking forward, earnings are forecast to grow by 60% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Feb 2026CA$41.7bCA$3.5bCA$39.0m99x1069.9x11.8x
Wed, 14 Jan 2026CA$38.9bCA$3.5bCA$82.6m86.2x470.3x11x
Fri, 12 Dec 2025CA$31.8bCA$3.5bCA$81.5m74.9x390.1x9.1x
Sun, 09 Nov 2025CA$23.5bCA$3.1b-CA$22,680,143.0052.6x-1036.4x7.5x
Tue, 07 Oct 2025CA$25.0bCA$2.8b-CA$21,213,883.7028.7x-1177.1x9x
Thu, 04 Sep 2025CA$24.1bCA$2.7bCA$120.2m22.5x200.3x8.8x
Sat, 02 Aug 2025CA$19.1bCA$2.3b-CA$84,012,573.5120.3x-227.8x8.5x
Mon, 30 Jun 2025CA$34.5bCA$7.9bCA$581.3m15.3x59.4x4.4x
Wed, 28 May 2025CA$30.4bCA$7.9bCA$602.4m12x50.5x3.8x
Fri, 25 Apr 2025CA$29.7bCA$7.3bCA$261.1m14.6x113.9x4.1x
Sun, 23 Mar 2025CA$30.6bCA$7.6bCA$313.1m17.9x97.6x4x
Tue, 18 Feb 2025CA$26.2bCA$7.2b-CA$6,444,415.0922.7x-4069.2x3.7x
Thu, 16 Jan 2025CA$23.9bCA$7.2b-CA$29,032,129.5020.8x-822.1x3.3x
Sat, 14 Dec 2024CA$25.1bCA$7.1b-CA$29,706,613.3420.7x-845.7x3.5x
Mon, 11 Nov 2024CA$25.8bCA$6.9b-CA$70,098,782.3721.6x-367.6x3.7x
Wed, 09 Oct 2024CA$24.2bCA$6.6b-CA$201,601,452.5522.9x-120.1x3.7x
Fri, 06 Sep 2024CA$20.3bCA$6.5b-CA$200,860,248.2118x-101.2x3.1x
Sun, 04 Aug 2024CA$22.0bCA$6.4b-CA$288,669,653.1816.1x-76.3x3.5x
Tue, 02 Jul 2024CA$21.5bCA$6.3b-CA$230,646,627.6216.3x-93.4x3.4x
Thu, 30 May 2024CA$25.6bCA$6.3b-CA$232,522,116.5020.3x-110x4.1x
Sat, 27 Apr 2024CA$21.7bCA$6.0b-CA$332,178,613.3527.5x-65.2x3.6x
Mon, 25 Mar 2024CA$16.2bCA$5.9b-CA$394,095,199.9051.4x-41.1x2.7x
Wed, 21 Feb 2024CA$14.2bCA$5.4b-CA$690,647,313.6329.1x-20.5x2.6x
Fri, 19 Jan 2024CA$15.1bCA$5.4b-CA$888,626,689.0031x-16.9x2.8x
Sun, 17 Dec 2023CA$17.6bCA$5.3b-CA$876,368,179.0036.9x-20.1x3.3x
Tue, 14 Nov 2023CA$14.8bCA$5.5b-CA$895,230,214.0033.6x-16.6x2.7x
Thu, 12 Oct 2023CA$15.7bCA$4.9b-CA$1,007,456,438.0037.6x-15.6x3.2x
Sat, 09 Sep 2023CA$16.6bCA$5.0b-CA$1,009,980,984.0038.5x-16.4x3.3x
Mon, 07 Aug 2023CA$17.3bCA$4.5b-CA$1,289,461,454.0059.8x-13.4x3.9x
Wed, 05 Jul 2023CA$16.6bCA$4.4b-CA$1,367,517,555.0059x-12.2x3.7x
Fri, 02 Jun 2023CA$18.1bCA$4.5b-CA$1,384,356,317.0066.6x-13.1x4x
Sun, 30 Apr 2023CA$20.3bCA$4.6b-CA$1,146,980,968.0075.8x-17.7x4.4x
Tue, 28 Mar 2023CA$16.3bCA$4.7b-CA$1,145,050,166.0045.8x-14.2x3.5x
Thu, 23 Feb 2023CA$14.8bCA$4.8b-CA$646,742,638.0023.5x-22.9x3.1x
Price to Earnings Ratio

-22.9x


Total Market Cap: CA$14.8bTotal Earnings: -CA$646,742,638.00Total Revenue: CA$4.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -147.3x202420252026
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 1kx which is higher than its 3-year average PE of -148x.
  • The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 11.8x.
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 9.6% 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 Market1.92%
Materials4.91%
Metals and Mining5.19%
Silver3.45%
Gold6.75%
Steel3.08%
Diversified Metals and Mining2.18%
Copper0.78%
Aluminum0%0
Precious Metals and Minerals-1.52%
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
SVM Silvercorp MetalsCA$14.972.3%
+CA$82.9m		190.1%PS6.6x
SNAG Silver North ResourcesCA$0.280%
CA$6.3m		137.5%PB3.2x
APM Andean Precious MetalsCA$9.030.1%
+CA$1.6m		478.8%PE12.8x
MSV Minco SilverCA$0.462.2%
+CA$616.3k		148.6%PE3.2x

Latest News

AG
CA$31.28
First Majestic Silver
7D
-3.0%
1Y
306.2%

AG: Future Production Outlook And New Discoveries Will Drive Bullish Repricing

Analysts have lifted their price target on First Majestic Silver from about CA$12.50 to CA$35.00, citing updated assumptions for higher revenue growth, wider profit margins, and a lower future P/E multiple as the key drivers of the change. What's in the News Issued new consolidated production guidance for 2026, with expected silver output of 13.0 million to 14.4 million ounces, gold of 116,000 to 129,000 ounces, lead of 34 million to 38 million pounds, zinc of 52 million to 58 million pounds, and copper of 1.1 million to 1.3 million pounds (Key Developments).
APM
CA$9.03
Andean Precious Metals
7D
0.1%
1Y
478.8%

Operational Setbacks And Policy Risks Will Define Mine Life Yet Leave Upside Potential

Catalysts About Andean Precious Metals Andean Precious Metals operates precious metals mines, with producing assets focused on silver and gold in Bolivia and the United States. What are the underlying business or industry changes driving this perspective?
GGD
CA$3.18
GoGold Resources
7D
-2.5%
1Y
100.0%
APGO
CA$4.35
Apollo Silver
7D
-13.9%
1Y
234.6%
DSV
CA$10.18
Discovery Silver
7D
-1.2%
1Y
544.3%
SNAG
CA$0.28
Silver North Resources
7D
0%
1Y
137.5%
SVM
CA$14.97
Silvercorp Metals
7D
2.3%
1Y
190.1%
EDR
CA$16.01
Endeavour Silver
7D
-3.1%
1Y
178.9%

EDR: New Mine Ramp Up And Higher Margins Will Drive Bullish Outlook

Analysts have raised their price target on Endeavour Silver to $23.00 from $18.46, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E that they believe better reflect the company’s current risk and earnings profile. What's in the News Endeavour Silver issued consolidated production guidance for 2026, with silver output from Terronera, Guanaceví and Kolpa projected between 8.3 million oz and 8.9 million oz, and gold output from Terronera and Guanaceví expected between 46,000 oz and 48,000 oz (Key Developments).
AYA
CA$23.40
Aya Gold & Silver
7D
-2.8%
1Y
100.0%

AYA: Record Production And Boumadine Progress Will Drive Bullish Repricing

Narrative Update The analyst price target for Aya Gold & Silver has been modestly adjusted to reflect updated views on fair value, discount rates, revenue growth, profit margins and future P/E assumptions, supported by recent Street research in which several firms raised their targets by C$4, C$8 and C$10. Analyst Commentary Recent Street research on Aya Gold & Silver reflects a cluster of price target increases, with adjustments of C$4, C$8 and C$10 from different firms.
SLVR
CA$0.92
Silver Tiger Metals
7D
-11.5%
1Y
187.5%
NUAG
CA$4.98
New Pacific Metals
7D
-4.8%
1Y
191.2%
MSV
CA$0.46
Minco Silver
7D
2.2%
1Y
148.6%