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Canadian (TSX) Silver Industry Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies30
  • 7D-6.7%
  • 3M74.3%
  • 1Y243.1%
  • YTDn/a

Over the last 7 days, the Silver industry has dropped 7.9%, driven by First Majestic Silver declining 9.0%. Over the past 12 months, the industry was up 229%. 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
Thu, 19 Feb 2026CA$39.3bCA$3.6bCA$39.5m97.2x993.5x11x
Sat, 17 Jan 2026CA$39.4bCA$3.5bCA$83.0m99.1x475.1x11.1x
Mon, 15 Dec 2025CA$32.6bCA$3.5bCA$81.5m71.2x400.1x9.3x
Wed, 12 Nov 2025CA$25.5bCA$3.1b-CA$21,997,943.4758.5x-1161.5x8.2x
Fri, 10 Oct 2025CA$27.2bCA$2.8b-CA$21,090,548.4427.6x-1289.3x9.7x
Sun, 07 Sep 2025CA$23.4bCA$2.8bCA$121.6m22.3x192x8.5x
Tue, 05 Aug 2025CA$19.1bCA$2.3b-CA$84,087,137.8520.3x-226.7x8.4x
Thu, 03 Jul 2025CA$18.4bCA$2.2b-CA$81,522,080.4617.4x-226x8.3x
Sat, 31 May 2025CA$30.2bCA$7.9bCA$582.3m14.7x51.9x3.8x
Mon, 28 Apr 2025CA$29.5bCA$7.3bCA$260.8m14.4x113.2x4x
Wed, 26 Mar 2025CA$30.8bCA$7.6bCA$316.2m18.2x97.4x4.1x
Fri, 21 Feb 2025CA$26.0bCA$7.4bCA$208.8m41.8x124.6x3.5x
Sun, 19 Jan 2025CA$24.0bCA$7.3b-CA$28,651,086.7221x-838.2x3.3x
Tue, 17 Dec 2024CA$24.4bCA$7.1b-CA$29,664,824.1520.6x-823x3.4x
Thu, 14 Nov 2024CA$24.7bCA$7.0b-CA$39,904,730.2617.9x-618.2x3.5x
Sat, 12 Oct 2024CA$25.7bCA$6.6b-CA$202,635,539.3623.8x-126.7x3.9x
Mon, 09 Sep 2024CA$19.7bCA$6.5b-CA$201,345,700.1917.4x-97.8x3x
Wed, 07 Aug 2024CA$22.0bCA$6.3b-CA$287,304,919.3015.7x-76.7x3.5x
Fri, 05 Jul 2024CA$22.6bCA$6.3b-CA$229,140,696.8717.2x-98.7x3.6x
Sun, 02 Jun 2024CA$24.7bCA$6.3b-CA$231,234,467.5319.5x-106.9x3.9x
Tue, 30 Apr 2024CA$21.7bCA$6.0b-CA$329,717,012.3727.3x-65.7x3.6x
Thu, 28 Mar 2024CA$16.9bCA$5.9b-CA$338,365,347.9220.9x-50x2.9x
Sat, 24 Feb 2024CA$14.1bCA$5.8b-CA$489,530,705.7429.7x-28.8x2.4x
Mon, 22 Jan 2024CA$14.9bCA$5.4b-CA$885,782,686.0031.4x-16.9x2.8x
Wed, 20 Dec 2023CA$17.8bCA$5.3b-CA$881,683,992.0037.4x-20.2x3.3x
Fri, 17 Nov 2023CA$16.2bCA$5.5b-CA$889,452,960.0037.3x-18.2x3x
Sun, 15 Oct 2023CA$16.1bCA$5.0b-CA$1,010,725,317.0038.3x-16x3.2x
Tue, 12 Sep 2023CA$16.7bCA$4.9b-CA$1,006,605,800.0039x-16.6x3.4x
Thu, 10 Aug 2023CA$16.8bCA$4.5b-CA$1,261,705,364.0037.1x-13.3x3.7x
Sat, 08 Jul 2023CA$16.1bCA$4.5b-CA$1,372,607,428.0056x-11.7x3.6x
Mon, 05 Jun 2023CA$17.8bCA$4.5b-CA$1,384,045,765.0065.5x-12.9x3.9x
Wed, 03 May 2023CA$20.8bCA$4.7b-CA$1,150,924,813.0077.1x-18.1x4.5x
Fri, 31 Mar 2023CA$17.1bCA$4.6b-CA$1,139,375,285.0073.7x-15x3.7x
Sun, 26 Feb 2023CA$14.0bCA$4.7b-CA$902,183,683.0022.9x-15.5x3x
Price to Earnings Ratio

-15.5x


Total Market Cap: CA$14.0bTotal Earnings: -CA$902,183,683.00Total Revenue: CA$4.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -144.3x202420252026
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 -145x.
  • The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 11.7x.
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 Market0.084%
Materials-2.60%
Metals and Mining-2.70%
Silver-6.75%
Steel1.04%
Aluminum0%0
Gold-1.59%
Copper-4.76%
Diversified Metals and Mining-4.96%
Precious Metals and Minerals-6.48%
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
SCRI Silver Crown RoyaltiesCA$16.556.8%
+CA$4.9m		152.7%PS70.1x
SBMI Silver Bullet MinesCA$0.266.3%
+CA$2.2m		75.9%PB40.3x
SNAG Silver North ResourcesCA$0.283.6%
+CA$1.1m		137.5%PB3.2x
HAMR Silver Hammer MiningCA$0.129.5%
+CA$1.0m		-17.9%PB1.3x

Latest News

AYA
CA$22.84
Aya Gold & Silver
7D
-7.5%
1Y
90.5%

AYA: Higher Silver Output And Exploration Success Will Support Undervalued Shares

Aya Gold & Silver's analyst fair value estimate has moved from CA$23.65 to CA$32.93, supported by a series of recent price target increases from firms such as Stifel, CIBC, BMO Capital, Scotiabank, and Raymond James that cite updated assumptions around growth, profitability, and valuation multiples. Analyst Commentary Bullish Takeaways Bullish analysts are lifting their price targets in sizeable C$4 to C$10 increments, which signals greater conviction in the company’s ability to support a higher fair value over time.
AG
CA$30.98
First Majestic Silver
7D
-4.2%
1Y
306.0%

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).
APGO
CA$4.13
Apollo Silver
7D
-17.2%
1Y
189.8%
DSV
CA$9.81
Discovery Silver
7D
-11.1%
1Y
517.0%
SNAG
CA$0.28
Silver North Resources
7D
3.6%
1Y
137.5%
SVM
CA$14.91
Silvercorp Metals
7D
-4.2%
1Y
184.5%
EDR
CA$15.97
Endeavour Silver
7D
-4.9%
1Y
183.7%

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).
SBMI
CA$0.26
Silver Bullet Mines
7D
6.3%
1Y
75.9%
HAMR
CA$0.12
Silver Hammer Mining
7D
9.5%
1Y
-17.9%
NUAG
CA$4.97
New Pacific Metals
7D
-7.4%
1Y
201.2%
SCRI
CA$16.55
Silver Crown Royalties
7D
6.8%
1Y
152.7%
SVRS
CA$0.59
Silver Storm Mining
7D
-22.4%
1Y
280.6%