Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Silver Industry Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies30
  • 7D9.0%
  • 3M11.7%
  • 1Y191.1%
  • YTDn/a

Over the last 7 days, the Silver industry has risen 4.4%, driven by gains from First Majestic Silver of 7.9%. This means that the industry has gained 159% over the past year. Looking forward, earnings are forecast to grow by 39% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026CA$35.1bCA$4.8bCA$351.4m37.4x99.8x7.4x
Fri, 27 Feb 2026CA$49.6bCA$4.3bCA$265.1m49.3x187x11.4x
Sun, 25 Jan 2026CA$48.2bCA$3.5bCA$80.7m113x596.6x13.8x
Tue, 23 Dec 2025CA$33.6bCA$3.5bCA$81.3m78.2x413.5x9.6x
Thu, 20 Nov 2025CA$24.6bCA$3.6bCA$111.2m57.7x221.6x6.9x
Sat, 18 Oct 2025CA$29.7bCA$2.8b-CA$21,110,367.2527.9x-1409.2x10.7x
Mon, 15 Sep 2025CA$22.0bCA$2.8b-CA$21,668,909.4221.2x-1015.4x8x
Wed, 13 Aug 2025CA$20.7bCA$2.3b-CA$60,838,796.6118.2x-339.7x9.1x
Fri, 11 Jul 2025CA$18.9bCA$2.2b-CA$81,451,571.4618x-232.1x8.4x
Sun, 08 Jun 2025CA$35.8bCA$7.9bCA$581.0m15.6x61.7x4.5x
Tue, 06 May 2025CA$27.6bCA$7.3bCA$259.6m14.3x106.3x3.8x
Thu, 03 Apr 2025CA$29.5bCA$7.6bCA$272.0m14.8x108.4x3.9x
Sat, 01 Mar 2025CA$26.8bCA$7.6bCA$214.7m37.4x124.7x3.5x
Mon, 27 Jan 2025CA$24.4bCA$7.2b-CA$29,054,243.7521x-839.8x3.4x
Wed, 25 Dec 2024CA$22.9bCA$7.2b-CA$28,857,887.9819.3x-794.2x3.2x
Fri, 22 Nov 2024CA$24.9bCA$7.0b-CA$32,819,922.6117.4x-758.1x3.6x
Sun, 20 Oct 2024CA$27.9bCA$6.7b-CA$203,048,992.3425.3x-137.5x4.2x
Tue, 17 Sep 2024CA$23.5bCA$6.5b-CA$201,038,974.7520.9x-117x3.6x
Thu, 15 Aug 2024CA$21.1bCA$6.5b-CA$225,444,976.3018.9x-93.7x3.2x
Sat, 13 Jul 2024CA$25.4bCA$6.3b-CA$229,376,248.6818.3x-110.7x4x
Mon, 10 Jun 2024CA$22.3bCA$6.3b-CA$230,805,567.9217.2x-96.8x3.5x
Wed, 08 May 2024CA$21.8bCA$6.0b-CA$318,826,285.7523.3x-68.5x3.7x
Fri, 05 Apr 2024CA$20.2bCA$5.9b-CA$328,739,926.0524.9x-61.4x3.4x
Sun, 03 Mar 2024CA$14.4bCA$5.8b-CA$490,783,522.5931x-29.3x2.5x
Tue, 30 Jan 2024CA$15.2bCA$5.4b-CA$884,874,743.0030.7x-17.2x2.8x
Thu, 28 Dec 2023CA$18.1bCA$5.3b-CA$875,969,283.0037.2x-20.7x3.4x
Sat, 25 Nov 2023CA$16.3bCA$5.4b-CA$885,191,828.0038.3x-18.4x3x
Mon, 23 Oct 2023CA$16.7bCA$5.0b-CA$1,013,518,463.0038.6x-16.4x3.3x
Wed, 20 Sep 2023CA$16.9bCA$4.9b-CA$999,286,698.0040.2x-16.9x3.5x
Fri, 18 Aug 2023CA$16.5bCA$4.9b-CA$1,083,975,042.0040.3x-15.2x3.4x
Sun, 16 Jul 2023CA$17.9bCA$4.4b-CA$1,367,460,180.0059.4x-13.1x4x
Tue, 13 Jun 2023CA$17.4bCA$4.5b-CA$1,379,112,557.0064.4x-12.6x3.9x
Thu, 11 May 2023CA$19.6bCA$4.6b-CA$1,278,431,790.0071.9x-15.3x4.3x
Sat, 08 Apr 2023CA$17.7bCA$4.6b-CA$1,142,938,646.0079.6x-15.5x3.8x
Price to Earnings Ratio

-15.5x


Total Market Cap: CA$17.7bTotal Earnings: -CA$1,142,938,646.00Total Revenue: CA$4.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -135.6x202420252026
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 122x which is higher than its 3-year average PE of -136x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 7.6x.
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 Market2.38%
Materials7.97%
Metals and Mining9.01%
Silver8.96%
Gold9.95%
Copper7.57%
Precious Metals and Minerals6.59%
Diversified Metals and Mining6.28%
Aluminum0%0
Steel-3.15%
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$29.827.9%
+CA$1.1b		214.6%PE64.1x
DSV Discovery SilverCA$8.9410.5%
+CA$691.6m		340.4%PE48.8x
AYA Aya Gold & SilverCA$21.2215.8%
+CA$414.6m		92.0%PE47.9x
SVM Silvercorp MetalsCA$14.9611.6%
+CA$342.3m		173.5%PS6.5x
EDR Endeavour SilverCA$12.985.1%
+CA$186.3m		140.8%PS5.9x

Latest News

AYA
CA$21.22
Aya Gold & Silver
7D
12.8%
1Y
104.2%
AG
CA$29.82
First Majestic Silver
7D
7.9%
1Y
214.6%

AG: Index Inclusion And Capital Returns Will Support Rich Multiple

Analysts have kept the fair value estimate for First Majestic Silver steady at CA$35.00, with only modest tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E feeding into the updated price target rationale. What's in the News First Majestic Silver is being added to the FTSE All-World Index (USD), which can affect how index-tracking funds and ETFs treat the stock (Index Constituent Adds).
APM
CA$6.95
Andean Precious Metals
7D
9.4%
1Y
326.4%
NUAG
CA$5.77
New Pacific Metals
7D
14.3%
1Y
272.3%
EDR
CA$12.98
Endeavour Silver
7D
5.1%
1Y
140.8%

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.
SVM
CA$14.96
Silvercorp Metals
7D
11.6%
1Y
173.5%

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.
DSV
CA$8.94
Discovery Silver
7D
10.5%
1Y
340.4%
GGD
CA$2.66
GoGold Resources
7D
6.8%
1Y
55.6%
SNAG
CA$0.27
Silver North Resources
7D
-6.9%
1Y
134.8%
SVRS
CA$0.46
Silver Storm Mining
7D
-1.1%
1Y
240.7%
SBMI
CA$0.22
Silver Bullet Mines
7D
-8.3%
1Y
22.2%
KS
CA$0.23
Klondike Silver
7D
-8.0%
1Y
15.0%