Narrative Update • May 24
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Canadian (TSX) Silver Industry Analysis
UpdatedJun 06, 2026
DataAggregated Company Financials
Companies31
- 7D-16.4%
- 3M-23.6%
- 1Y103.1%
- YTDn/a
Over the last 7 days, the Silver industry has dropped 16%, driven by a pullback from First Majestic Silver of 19%. Meanwhile, BP Silver actually outperformed within the industry, gaining 5.7% in the last week. In the past year, the industry has gained 103%. Looking forward, earnings are forecast to grow by 23% annually.
Industry Valuation and Performance
Has the Canadian Silver Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 06 Jun 2026 | CA$38.3b | CA$6.1b | CA$874.9m | 22.6x | 43.8x | 6.3x |
| Mon, 04 May 2026 | CA$37.3b | CA$4.7b | CA$330.0m | 37.3x | 112.9x | 8x |
| Wed, 01 Apr 2026 | CA$35.1b | CA$4.8b | CA$351.4m | 37.4x | 99.8x | 7.4x |
| Fri, 27 Feb 2026 | CA$49.6b | CA$4.3b | CA$265.1m | 49.3x | 187x | 11.4x |
| Sun, 25 Jan 2026 | CA$48.2b | CA$3.5b | CA$80.7m | 113x | 596.6x | 13.8x |
| Tue, 23 Dec 2025 | CA$33.6b | CA$3.5b | CA$81.3m | 78.2x | 413.5x | 9.6x |
| Thu, 20 Nov 2025 | CA$24.6b | CA$3.6b | CA$111.2m | 57.7x | 221.6x | 6.9x |
| Sat, 18 Oct 2025 | CA$29.7b | CA$2.8b | -CA$21,110,367.25 | 27.9x | -1409.2x | 10.7x |
| Mon, 15 Sep 2025 | CA$22.0b | CA$2.8b | -CA$21,668,909.42 | 21.2x | -1015.4x | 8x |
| Wed, 13 Aug 2025 | CA$20.7b | CA$2.3b | -CA$60,838,796.61 | 18.2x | -339.7x | 9.1x |
| Fri, 11 Jul 2025 | CA$18.9b | CA$2.2b | -CA$81,451,571.46 | 18x | -232.1x | 8.4x |
| Sun, 08 Jun 2025 | CA$35.8b | CA$7.9b | CA$581.0m | 15.6x | 61.7x | 4.5x |
| Tue, 06 May 2025 | CA$27.6b | CA$7.3b | CA$259.6m | 14.3x | 106.3x | 3.8x |
| Thu, 03 Apr 2025 | CA$29.5b | CA$7.6b | CA$272.0m | 14.8x | 108.4x | 3.9x |
| Sat, 01 Mar 2025 | CA$26.8b | CA$7.6b | CA$214.7m | 37.4x | 124.7x | 3.5x |
| Mon, 27 Jan 2025 | CA$24.4b | CA$7.2b | -CA$29,054,243.75 | 21x | -839.8x | 3.4x |
| Wed, 25 Dec 2024 | CA$22.9b | CA$7.2b | -CA$28,857,887.98 | 19.3x | -794.2x | 3.2x |
| Fri, 22 Nov 2024 | CA$24.9b | CA$7.0b | -CA$32,819,922.61 | 17.4x | -758.1x | 3.6x |
| Sun, 20 Oct 2024 | CA$27.9b | CA$6.7b | -CA$203,048,992.34 | 25.3x | -137.5x | 4.2x |
| Tue, 17 Sep 2024 | CA$23.5b | CA$6.5b | -CA$201,038,974.75 | 20.9x | -117x | 3.6x |
| Thu, 15 Aug 2024 | CA$21.1b | CA$6.5b | -CA$225,444,976.30 | 18.9x | -93.7x | 3.2x |
| Sat, 13 Jul 2024 | CA$25.4b | CA$6.3b | -CA$229,376,248.68 | 18.3x | -110.7x | 4x |
| Mon, 10 Jun 2024 | CA$22.3b | CA$6.3b | -CA$230,805,567.92 | 17.2x | -96.8x | 3.5x |
| Wed, 08 May 2024 | CA$21.8b | CA$6.0b | -CA$318,826,285.75 | 23.3x | -68.5x | 3.7x |
| Fri, 05 Apr 2024 | CA$20.2b | CA$5.9b | -CA$328,739,926.05 | 24.9x | -61.4x | 3.4x |
| Sun, 03 Mar 2024 | CA$14.4b | CA$5.8b | -CA$490,783,522.59 | 31x | -29.3x | 2.5x |
| Tue, 30 Jan 2024 | CA$15.2b | CA$5.4b | -CA$884,874,743.00 | 30.7x | -17.2x | 2.8x |
| Thu, 28 Dec 2023 | CA$18.1b | CA$5.3b | -CA$875,969,283.00 | 37.2x | -20.7x | 3.4x |
| Sat, 25 Nov 2023 | CA$16.3b | CA$5.4b | -CA$885,191,828.00 | 38.3x | -18.4x | 3x |
| Mon, 23 Oct 2023 | CA$16.7b | CA$5.0b | -CA$1,013,518,463.00 | 38.6x | -16.4x | 3.3x |
| Wed, 20 Sep 2023 | CA$16.9b | CA$4.9b | -CA$999,286,698.00 | 40.2x | -16.9x | 3.5x |
| Fri, 18 Aug 2023 | CA$16.5b | CA$4.9b | -CA$1,083,975,042.00 | 40.3x | -15.2x | 3.4x |
| Sun, 16 Jul 2023 | CA$17.9b | CA$4.4b | -CA$1,367,460,180.00 | 59.4x | -13.1x | 4x |
| Tue, 13 Jun 2023 | CA$17.4b | CA$4.5b | -CA$1,379,112,557.00 | 64.4x | -12.6x | 3.9x |
Price to Earnings Ratio
-12.6x
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 43.8x which is higher than its 3-year average PE of -129x.
- The 3-year average PS ratio of 5.2x is lower than the industry's current PS ratio of 6.3x.
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 grown 11% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Comparison
How does Canadian Silver compare with similar industries?
| CA Market | -1.18% | |
| Materials | -10.09% | |
| Metals and Mining | -10.84% | |
| Silver | -16.44% | |
| Aluminum | 0% | 0 |
| Steel | -4.54% | |
| Copper | -8.57% | |
| Diversified Metals and Mining | -9.36% | |
| Gold | -11.24% | |
| Precious Metals and Minerals | -13.64% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| BPAG BP Silver | CA$0.93 | 5.7% +CA$3.3m | n/a | PB5.6x | |
| ZAC Zacatecas Silver | CA$0.08 | 14.3% +CA$2.1m | -5.9% | PB0.5x | |
| RSMX Regency Silver | CA$0.12 | 4.3% +CA$690.1k | -14.3% | PB1.4x |