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Canadian (TSX) Silver Industry Analysis

UpdatedApr 16, 2026
DataAggregated Company Financials
Companies31
  • 7D4.7%
  • 3M1.4%
  • 1Y190.8%
  • YTDn/a

The Silver industry is up 5.6% in the last week, with Discovery Silver up 7.7%. Meanwhile, BP Silver actually underperformed within the industry, shrinking 8.0% in the last week. This means that the industry has gained 198% over the past year. Looking forward, earnings are forecast to grow by 33% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026CA$41.2bCA$4.7bCA$343.3m42.4x119.9x8.8x
Sat, 14 Mar 2026CA$42.2bCA$4.5bCA$229.0m40.1x184.5x9.3x
Mon, 09 Feb 2026CA$40.2bCA$3.5bCA$79.3m91.3x507.5x11.6x
Wed, 07 Jan 2026CA$34.4bCA$3.5bCA$81.9m80.9x420.3x9.8x
Fri, 05 Dec 2025CA$31.2bCA$3.5bCA$75.0m68.6x416.4x8.8x
Sun, 02 Nov 2025CA$25.4bCA$2.8b-CA$22,256,032.4826.1x-1140.8x9.1x
Tue, 30 Sep 2025CA$24.6bCA$2.8b-CA$21,261,219.5425.2x-1157.6x8.9x
Thu, 28 Aug 2025CA$22.0bCA$2.7bCA$118.3m21.4x186x8x
Sat, 26 Jul 2025CA$20.4bCA$2.2b-CA$82,271,998.3117.6x-248.1x9.1x
Mon, 23 Jun 2025CA$35.6bCA$7.9bCA$583.2m15.2x61x4.5x
Wed, 21 May 2025CA$27.9bCA$8.0bCA$606.3m11.4x46.1x3.5x
Fri, 18 Apr 2025CA$30.9bCA$7.3bCA$260.7m15.2x118.5x4.2x
Sun, 16 Mar 2025CA$30.4bCA$7.6bCA$367.6m17.9x82.6x4x
Tue, 11 Feb 2025CA$26.3bCA$7.2b-CA$27,718,907.7922.7x-950.4x3.7x
Thu, 09 Jan 2025CA$23.6bCA$7.2b-CA$28,882,581.9419.8x-817.4x3.3x
Sat, 07 Dec 2024CA$25.0bCA$7.1b-CA$37,033,459.8116.6x-674.2x3.5x
Mon, 04 Nov 2024CA$26.9bCA$6.7b-CA$203,263,598.2824.3x-132.3x4x
Wed, 02 Oct 2024CA$23.4bCA$6.5b-CA$200,179,356.0221.8x-117x3.6x
Fri, 30 Aug 2024CA$21.8bCA$6.5b-CA$201,136,991.3919.9x-108.3x3.4x
Sun, 28 Jul 2024CA$23.2bCA$6.4b-CA$230,980,360.3618.1x-100.6x3.7x
Tue, 25 Jun 2024CA$22.2bCA$6.3b-CA$229,683,838.1816.8x-96.6x3.5x
Thu, 23 May 2024CA$25.2bCA$6.3b-CA$237,277,338.8522.2x-106.4x4x
Sat, 20 Apr 2024CA$21.4bCA$6.0b-CA$336,434,447.8625.7x-63.7x3.6x
Mon, 18 Mar 2024CA$16.5bCA$5.9b-CA$415,005,240.8057.2x-39.8x2.8x
Wed, 14 Feb 2024CA$13.5bCA$5.4b-CA$693,230,998.3928.5x-19.5x2.5x
Fri, 12 Jan 2024CA$16.4bCA$5.4b-CA$884,456,782.0032.6x-18.5x3.1x
Sun, 10 Dec 2023CA$17.0bCA$5.4b-CA$885,588,684.0036.6x-19.2x3.1x
Tue, 07 Nov 2023CA$16.2bCA$4.9b-CA$1,017,856,401.0035.5x-15.9x3.3x
Thu, 05 Oct 2023CA$15.0bCA$5.0b-CA$1,014,136,358.0035.7x-14.8x3x
Sat, 02 Sep 2023CA$17.5bCA$4.9b-CA$1,012,792,088.0040.4x-17.3x3.5x
Mon, 31 Jul 2023CA$17.5bCA$4.4b-CA$1,368,607,201.0060.4x-12.8x3.9x
Wed, 28 Jun 2023CA$15.9bCA$4.4b-CA$1,363,716,543.0057.1x-11.7x3.6x
Fri, 26 May 2023CA$17.6bCA$4.6b-CA$1,391,885,625.0060.8x-12.7x3.8x
Sun, 23 Apr 2023CA$20.1bCA$4.6b-CA$1,145,806,816.0074.7x-17.5x4.3x
Price to Earnings Ratio

-17.5x


Total Market Cap: CA$20.1bTotal Earnings: -CA$1,145,806,816.00Total Revenue: CA$4.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -133.9x202420252026
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 114x which is higher than its 3-year average PE of -134x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 8.3x.
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 Market1.73%
Materials1.83%
Metals and Mining2.24%
Silver4.66%
Diversified Metals and Mining6.53%
Copper5.40%
Precious Metals and Minerals3.46%
Gold0.74%
Aluminum0%0
Steel-2.83%
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
DSV Discovery SilverCA$10.237.7%
+CA$591.9m		268.0%PE56.6x
SVM Silvercorp MetalsCA$16.979.1%
+CA$311.4m		213.1%PS7.5x
AYA Aya Gold & SilverCA$24.488.0%
+CA$258.8m		111.2%PE56x
NUAG New Pacific MetalsCA$7.2417.5%
+CA$198.9m		346.9%PB6x
AG First Majestic SilverCA$29.090.6%
+CA$88.9m		212.5%PE63.4x

Latest News

APM
CA$7.18
Andean Precious Metals
7D
-0.4%
1Y
275.9%
NUAG
CA$7.24
New Pacific Metals
7D
17.5%
1Y
346.9%
AYA
CA$24.48
Aya Gold & Silver
7D
8.0%
1Y
111.2%
AG
CA$29.09
First Majestic Silver
7D
0.6%
1Y
212.5%

AG: Jerritt Canyon Restart And Buybacks Will Support A Stronger Outlook

Analysts have raised their price target on First Majestic Silver from CA$21 to CA$40. This reflects updated views on its fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.
DSV
CA$10.23
Discovery Silver
7D
7.7%
1Y
268.0%
ZAC
CA$0.075
Zacatecas Silver
7D
-6.3%
1Y
7.1%
PSIL
CA$1.27
Pacifica Silver
7D
-2.3%
1Y
111.7%
SVM
CA$16.97
Silvercorp Metals
7D
9.1%
1Y
213.1%

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.
BPAG
CA$0.92
BP Silver
7D
-8.0%
1Y
n/a
GGD
CA$2.82
GoGold Resources
7D
4.8%
1Y
53.3%
SVRS
CA$0.52
Silver Storm Mining
7D
18.2%
1Y
271.4%
HAMR
CA$0.09
Silver Hammer Mining
7D
-5.3%
1Y
28.6%
SBMI
CA$0.23
Silver Bullet Mines
7D
-4.2%
1Y
31.4%
SLVR
CA$0.91
Silver Tiger Metals
7D
12.3%
1Y
188.9%
MSV
CA$0.47
Minco Silver
7D
-2.1%
1Y
184.8%