Canadian mining shares have outperformed the broader market in the previous few weeks as buyers reply to rising commodity costs and continued optimism in world demand. Gold costs lately soared to an all-time excessive, whereas silver is buying and selling close to its highest stage in over a decade. Copper has additionally seen a robust rally, reflecting sturdy industrial demand and provide challenges. This sturdy momentum is pushing many mining shares greater. However some shares are nonetheless buying and selling at enticing valuations based mostly on their long-term progress potential.
On this article, I’ll spotlight two mining shares that I feel are screaming buys in June and clarify why their finest days may nonetheless be forward.
First Majestic Silver inventory
First Majestic Silver (TSX:AG) is beginning to shine as silver costs hit multi-year highs. This Vancouver-based miner primarily focuses on silver and gold manufacturing in Mexico and america. After a difficult 2024, the corporate began 2025 on a robust notice, posting report first-quarter income of US$243.9 million, reflecting a 130% YoY (year-over-year) enhance with the assistance of hovering silver costs and elevated manufacturing.
Throughout the quarter, the Canadian miner’s silver output surged 88% YoY to hit 3.7 million ounces, whereas its whole silver equal manufacturing rose 49% from a 12 months in the past to 7.7 million ounces. Its Cerro Los Gatos mine, which it acquired in January, performed a giant half by contributing practically one-third of silver equal ounces offered. These constructive components, together with stronger outcomes from its San Dimas and Santa Elena mines, helped First Majestic obtain report mine working earnings of US$63.8 million final quarter.
AG inventory has jumped over 40% within the final 12 months to at present commerce at $11.42 per share with a market cap of $5.5 billion. For long-term buyers in search of silver publicity with actual momentum, First Majestic has the potential to ship sturdy returns within the years forward.
Hudbay Minerals inventory
Hudbay Minerals (TSX:HBM) might be one other good wager proper now. This copper-focused miner is using on a wave of sturdy momentum, and its newest first-quarter outcomes solely added optimism. The corporate reported income of US$594.9 million and posted a report adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) of US$287.2 million.
This progress was primarily because of its regular copper output and better-than-expected gold manufacturing. This explains why HBM inventory has surged greater than 44% thus far in 2025 to at present commerce at $14.58 per share and attain a market cap of $5.7 billion.
In case you don’t already know, Hudbay’s operations span Canada, Peru, and the U.S., and the corporate continues to give attention to optimizing prices throughout its websites. The truth is, within the newest quarter, all three of its operations posted enhancements in price management.
The corporate lately acquired full possession of the Copper Mountain mine and acquired full allowing for its Copper World undertaking, which might considerably increase long-term copper output. For buyers seeking to maintain high quality miners for the long run, Hudbay’s mixture of sturdy operations, a stable stability sheet, and promising progress tasks makes it price contemplating proper now.
