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Canadian (TSX) Silver Industry Analysis

UpdatedDec 22, 2025
DataAggregated Company Financials
Companies30
  • 7D1.3%
  • 3M36.3%
  • 1Y224.3%
  • YTDn/a

In the last week, the Silver industry is up 3.0%, with First Majestic Silver up 5.3%. Meanwhile, Aya Gold & Silver actually underperformed within the industry, shrinking 5.1% in the last week. This takes the industry's 12 month performance to a gain of 227%. Looking forward, earnings are forecast to grow by 58% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Dec 2025CA$33.6bCA$3.5bCA$81.7m76.2x411.2x9.6x
Wed, 19 Nov 2025CA$24.7bCA$3.5bCA$110.3m57x224.1x7x
Fri, 17 Oct 2025CA$28.9bCA$2.8b-CA$21,045,669.4830x-1374.7x10.4x
Sun, 14 Sep 2025CA$22.0bCA$2.8b-CA$21,668,909.4221.2x-1015.4x8x
Tue, 12 Aug 2025CA$20.6bCA$2.3b-CA$77,130,439.3117.9x-266.9x9x
Thu, 10 Jul 2025CA$18.4bCA$2.2b-CA$81,430,773.1717.4x-226x8.2x
Sat, 07 Jun 2025CA$36.2bCA$7.9bCA$581.7m15.6x62.3x4.6x
Mon, 05 May 2025CA$27.6bCA$7.3bCA$259.5m14.1x106.3x3.8x
Wed, 02 Apr 2025CA$30.0bCA$7.6bCA$271.8m14.6x110.5x4x
Fri, 28 Feb 2025CA$28.1bCA$7.6bCA$214.3m37.5x131.1x3.7x
Sun, 26 Jan 2025CA$24.4bCA$7.2b-CA$29,054,243.7521x-839.8x3.4x
Tue, 24 Dec 2024CA$22.7bCA$7.2b-CA$28,915,140.2619.3x-784.9x3.1x
Thu, 21 Nov 2024CA$25.5bCA$7.0b-CA$32,785,484.7317.9x-777.5x3.6x
Sat, 19 Oct 2024CA$25.5bCA$6.7b-CA$203,048,992.3425.3x-125.6x3.8x
Mon, 16 Sep 2024CA$23.5bCA$6.5b-CA$201,081,683.0821.3x-117x3.6x
Wed, 14 Aug 2024CA$20.9bCA$6.5b-CA$224,854,699.8918.4x-92.9x3.2x
Fri, 12 Jul 2024CA$24.3bCA$6.3b-CA$229,392,257.0618.4x-105.9x3.9x
Sun, 09 Jun 2024CA$22.3bCA$6.3b-CA$230,805,567.9217.2x-96.8x3.5x
Tue, 07 May 2024CA$21.6bCA$6.0b-CA$322,008,740.1723x-67.1x3.6x
Thu, 04 Apr 2024CA$18.6bCA$5.9b-CA$328,388,939.4825.8x-56.7x3.2x
Sat, 02 Mar 2024CA$13.7bCA$5.8b-CA$490,825,985.5931x-28x2.4x
Mon, 29 Jan 2024CA$15.2bCA$5.4b-CA$886,423,589.0030.7x-17.1x2.8x
Wed, 27 Dec 2023CA$17.9bCA$5.3b-CA$878,101,171.0037x-20.4x3.4x
Fri, 24 Nov 2023CA$16.3bCA$5.5b-CA$889,249,594.0037.1x-18.3x3x
Sun, 22 Oct 2023CA$16.7bCA$5.0b-CA$1,013,558,347.0038.6x-16.4x3.3x
Tue, 19 Sep 2023CA$17.6bCA$4.9b-CA$1,001,885,856.0041.4x-17.5x3.6x
Thu, 17 Aug 2023CA$16.5bCA$4.9b-CA$1,084,284,257.0040.4x-15.2x3.4x
Sat, 15 Jul 2023CA$17.9bCA$4.4b-CA$1,367,460,180.0059.4x-13.1x4x
Mon, 12 Jun 2023CA$17.4bCA$4.5b-CA$1,377,607,747.0064.6x-12.7x3.9x
Wed, 10 May 2023CA$20.3bCA$4.6b-CA$1,271,885,442.0077.2x-15.9x4.4x
Fri, 07 Apr 2023CA$17.7bCA$4.6b-CA$1,137,653,899.0079.8x-15.5x3.8x
Sun, 05 Mar 2023CA$15.2bCA$4.7b-CA$907,675,469.0035.7x-16.7x3.2x
Tue, 31 Jan 2023CA$16.5bCA$4.7b-CA$646,723,167.0041.6x-25.5x3.5x
Thu, 29 Dec 2022CA$16.8bCA$4.8b-CA$652,532,128.0045x-25.7x3.5x
Price to Earnings Ratio

-25.7x


Total Market Cap: CA$16.8bTotal Earnings: -CA$652,532,128.00Total Revenue: CA$4.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Silver Industry Price to Earnings3Y Average -177.4x202320242025
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 411x which is higher than its 3-year average PE of -177x.
  • The 3-year average PS ratio of 4.3x is lower than the industry's current PS ratio of 9.6x.
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 declined 10.0% 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 Market0.36%
Materials2.73%
Metals and Mining2.95%
Silver1.32%
Precious Metals and Minerals3.79%
Diversified Metals and Mining3.74%
Gold2.90%
Copper2.71%
Steel0.66%
Aluminum0%0
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$23.094.5%
+CA$491.2m		191.9%PE120.3x
EDR Endeavour SilverCA$13.184.8%
+CA$176.5m		146.8%PS8.3x
SVRS Silver Storm MiningCA$0.4918.1%
+CA$55.5m		476.5%PB7.1x
SVM Silvercorp MetalsCA$12.001.8%
+CA$46.3m		177.8%PE76.2x
EXN Excellon ResourcesCA$0.4928.9%
+CA$36.9m		444.4%PB4.6x

Latest News

SLVR
CA$0.68
Silver Tiger Metals
7D
-19.0%
1Y
231.7%
SVM
CA$12.00
Silvercorp Metals
7D
1.8%
1Y
177.8%
EDR
CA$13.18
Endeavour Silver
7D
4.8%
1Y
146.8%

Endeavour Silver Corp.'s (TSE:EDR) Shares Leap 30% Yet They're Still Not Telling The Full Story

Dec 21
Endeavour Silver Corp.'s (TSE:EDR) Shares Leap 30% Yet They're Still Not Telling The Full Story
GGD
CA$2.79
GoGold Resources
7D
-5.1%
1Y
149.1%
KUYA
CA$0.81
Kuya Silver
7D
20.9%
1Y
230.6%
AG
CA$23.09
First Majestic Silver
7D
4.5%
1Y
191.9%
AYA
CA$19.90
Aya Gold & Silver
7D
-4.9%
1Y
79.1%
DSV
CA$8.40
Discovery Silver
7D
-3.9%
1Y
1,100.0%
APM
CA$10.08
Andean Precious Metals
7D
-2.0%
1Y
641.2%

APM: Ore Supply Shift And Drilling Progress Will Support Balanced Future Prospects

Analysts have modestly raised their price target on Andean Precious Metals from approximately $9.92 to $10.39 per share, citing a higher expected future price to earnings multiple that more than offsets slightly softer assumptions for revenue growth and profit margins. What's in the News Completion of a five day arbitration hearing in Vancouver over an unpaid USD 1,000,000 additional consideration tied to prior silver price thresholds, with a final award expected before the end of 2025 (Silver Elephant arbitration) Phase 3 drilling at the Golden Queen mine progresses, with 20 core holes completed at the Hilltop area and all intersecting projected veins, supporting potential mine life extension and pit expansions (Golden Queen exploration update) Approval of an additional 3,800 metres of core drilling at Golden Queen, bringing total Phase 3 drilling to 8,100 metres to further define and expand current mining zones along strike (Golden Queen exploration update) Advancement of San Bartolome’s transition to a mineral purchase model, including implementation of a long term oxide ore supply agreement with COMIBOL and active community negotiations to secure permits and social licenses (San Bartolome and COMIBOL strategy) Exploration campaigns launched across multiple Bolivian projects, including Ánimas, Turqui, Santa Isabel, Tacobamba and Trapiche, targeting roughly 5,500 metres of shallow drilling and delineation of about 800,000 tonnes of new oxide material (Bolivia exploration programs) Valuation Changes Fair Value: increased modestly from CA$9.92 to CA$10.39 per share, reflecting a slightly higher intrinsic valuation.
EXN
CA$0.49
Excellon Resources
7D
28.9%
1Y
444.4%

Is Excellon Resources (CVE:EXN) Using Too Much Debt?

Dec 12
Is Excellon Resources (CVE:EXN) Using Too Much Debt?
RSMX
CA$0.14
Regency Silver
7D
-22.2%
1Y
-12.5%
NUAG
CA$4.93
New Pacific Metals
7D
2.1%
1Y
172.4%
DEF
CA$0.23
Defiance Silver
7D
-6.0%
1Y
23.7%
KTN
CA$2.38
Kootenay Silver
7D
15.5%
1Y
153.2%
SVRS
CA$0.49
Silver Storm Mining
7D
18.1%
1Y
476.5%
PSIL
CA$1.79
Pacifica Silver
7D
-8.7%
1Y
297.8%