Canadian mining stocks have outperformed the broader market in the last few weeks as investors respond to rising commodity prices and continued optimism in global demand. Gold prices recently soared to an all-time high, while silver is trading near its highest level in over a decade. Copper has also seen a strong rally, reflecting strong industrial demand and supply challenges. This strong momentum is pushing many mining stocks higher. But some stocks are still trading at attractive valuations based on their long-term growth potential.
In this article, I’ll highlight two mining stocks that I think are screaming buys in June and explain why their best days might still be ahead.
First Majestic Silver stock
First Majestic Silver (TSX:AG) is starting to shine as silver prices hit multi-year highs. This Vancouver-based miner mainly focuses on silver and gold production in Mexico and the United States. After a challenging 2024, the company started 2025 on a strong note, posting record first-quarter revenue of US$243.9 million, reflecting a 130% YoY (year-over-year) increase with the help of soaring silver prices and increased production.
During the quarter, the Canadian miner’s silver output surged 88% YoY to hit 3.7 million ounces, while its total silver equivalent production rose 49% from a year ago to 7.7 million ounces. Its Cerro Los Gatos mine, which it acquired in January, played a big part by contributing nearly one-third of silver equivalent ounces sold. These positive factors, along with stronger results from its San Dimas and Santa Elena mines, helped First Majestic achieve record mine operating earnings of US$63.8 million last quarter.
AG stock has jumped over 40% in the last year to currently trade at $11.42 per share with a market cap of $5.5 billion. For long-term investors looking for silver exposure with real momentum, First Majestic has the potential to deliver strong returns in the years ahead.
Hudbay Minerals stock
Hudbay Minerals (TSX:HBM) could be another smart bet right now. This copper-focused miner is riding on a wave of strong momentum, and its latest first-quarter results only added optimism. The company reported revenue of US$594.9 million and posted a record adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of US$287.2 million.
This growth was mainly due to its steady copper output and better-than-expected gold production. This explains why HBM stock has surged more than 44% so far in 2025 to currently trade at $14.58 per share and reach a market cap of $5.7 billion.
If you don’t already know, Hudbay’s operations span Canada, Peru, and the U.S., and the company continues to focus on optimizing costs across its sites. In fact, in the latest quarter, all three of its operations posted improvements in cost control.
The company recently acquired full ownership of the Copper Mountain mine and received full permitting for its Copper World project, which could significantly boost long-term copper output. For investors looking to hold quality miners for the long term, Hudbay’s combination of strong operations, a solid balance sheet, and promising growth projects makes it worth considering right now.
