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 not too long ago 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 robust industrial demand and provide challenges. This robust momentum is pushing many mining shares increased. However some shares are nonetheless buying and selling at engaging valuations primarily based on their long-term development potential.
On this article, I’ll spotlight two mining shares that I feel are screaming buys in June and clarify why their greatest days would possibly 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 the USA. After a difficult 2024, the corporate began 2025 on a robust observe, posting document first-quarter income of US$243.9 million, reflecting a 130% YoY (year-over-year) improve with the assistance of hovering silver costs and elevated manufacturing.
Through the quarter, the Canadian miner’s silver output surged 88% YoY to hit 3.7 million ounces, whereas its complete 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 an enormous half by contributing practically one-third of silver equal ounces bought. These constructive elements, together with stronger outcomes from its San Dimas and Santa Elena mines, helped First Majestic obtain document mine working earnings of US$63.8 million final quarter.
AG inventory has jumped over 40% within the final 12 months to at the moment 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 robust returns within the years forward.
Hudbay Minerals inventory
Hudbay Minerals (TSX:HBM) could possibly be one other sensible wager proper now. This copper-focused miner is using on a wave of robust momentum, and its newest first-quarter outcomes solely added optimism. The corporate reported income of US$594.9 million and posted a document adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) of US$287.2 million.
This development was primarily attributable to its regular copper output and better-than-expected gold manufacturing. This explains why HBM inventory has surged greater than 44% to this point in 2025 to at the moment commerce at $14.58 per share and attain a market cap of $5.7 billion.
Should you don’t already know, Hudbay’s operations span Canada, Peru, and the U.S., and the corporate continues to concentrate on optimizing prices throughout its websites. In actual fact, within the newest quarter, all three of its operations posted enhancements in price management.
The corporate not too long ago acquired full possession of the Copper Mountain mine and acquired full allowing for its Copper World mission, which might considerably increase long-term copper output. For buyers trying to maintain high quality miners for the long run, Hudbay’s mixture of robust operations, a stable steadiness sheet, and promising development tasks makes it value contemplating proper now.
