Boreal Data - A Ground Truth for Mining in Canada

Producer Equities: March 2026

March 2026 was certainly a volatile month for the mining sector. We track four major players—Barrick, Teck, HudBay, and Agnico—capture their closing prices weekdays at 4 p.m. ET in Canadian dollars. Let’s just say those weeks were a bit of a rollercoaster, with a pronounced dip in the middle of the month followed by a late recovery.

Barrick Gold

Barrick opened the month strong at $69.17 on March 2nd. However, the first three weeks saw a steady erosion in price. The stock tumbled significantly mid-month, hitting a low of $50.96 on March 20th. That was a rough patch. But the final week brought some relief, with the price bouncing back to close the month at $56.85 on the 31st.

Teck Resources

Teck followed a similar trajectory. It started March at $78.49 but faced headwinds early on. The slide continued through the middle of the month, with the share price bottoming out at $62.24 on March 20th. Like its peers, Teck managed to recover some ground in the final stretch, ending the month at $71.74.

HudBay Minerals

HudBay saw some of the sharpest swings relative to its price. Opening at $36.56, the stock drifted downward for most of the month. The low point came on March 20th, when shares touched $24.75. The rebound was spirited, though. By March 31st, HudBay had climbed back to $29.13.

Agnico Eagle

Agnico Eagle, trading at a higher price point, mirrored the sector’s volatility. It began the month at $344.78. The selling pressure was evident, pushing the stock down to a monthly low of $248.30 on the 20th. That’s a significant drop. However, buyers stepped back in late in the month, lifting the price to $282.37 by the closing bell on the 31st.

The Raw Data

That wraps up the mining stock activity for March. It was a month defined by a broad mid-month sell-off and a subsequent rally. If you want to dig into the specific daily closing figures, head over to the full raw data post for March.

Raw data logs

March 2026 Raw Data

About This Data

This post provides a raw, monthly snapshot of key indicators for the Canadian mining sector. We track commodity prices, major producer stock prices, currency data, and sector support equities to offer a neutral, on-the-ground perspective. The data is compiled from Monday to Friday and published at the start of the following month to give a clear view of market activity over that period.

Why These Metrics?

Commodity Prices: Spot prices for gold, silver, copper, nickel, zinc, and lead reflect global supply and demand, investor sentiment, and the health of the broader economy.
Producer Stocks: We track major producers across gold and base metals to gauge the market’s valuation of key industry players.
Sector Support: We track leading equipment and industrial suppliers to provide insight into capital expenditure and the operational health of the mining sector.
Dealer Prices: Gold and silver dealer prices provide insight into the physical retail market, showing what investors are paying to hold the actual metals.
FOREX (CAD/USD): The exchange rate between the Canadian and U.S. dollar is critical, as it directly impacts the revenue of Canadian mining companies, which typically sell their products in USD.

FOREX CAD / USD

March	$1.00 CAD	USD
2		0.7306
3		0.7308
4		0.7319
5		0.7312
6		0.7346
9		0.7367
10		0.7371
11		0.7360
12		0.7344
13		0.7291
16		0.7313
17		0.7300
18		0.7296
19		0.7284
20		0.7290
23		0.7290
24		0.7290
25		0.7246
26		0.7223
27		0.7207
30		0.7181
31		0.7174

Barrick, Teck, HudBay, Agnico Stock CAD

March	BARRICK	TECK	HUDBAY	AGNICO
2	69.17	78.49	36.56	344.78
3	63.30	75.73	34.10	320.47
4	63.85	76.32	33.83	318.15
5	62.01	74.16	31.48	303.00
6	61.73	69.85	30.28	300.11
9	62.27	69.52	30.55	305.64
10	62.65	72.05	31.26	308.43
11	61.73	75.03	30.56	302.51
12	60.64	71.50	29.74	297.69
13	58.09	68.43	28.42	284.98
16	58.91	68.96	28.90	287.22
17	58.65	68.79	29.05	287.05
18	55.45	67.51	27.25	268.76
19	51.15	65.23	25.58	253.41
20	50.96	62.24	24.75	248.30
23	51.68	66.56	25.83	252.12
24	52.43	67.17	26.03	252.57
25	53.92	70.14	27.67	265.81
26	51.91	67.28	26.05	260.02
27	53.43	67.33	27.01	268.22
30	53.50	67.23	26.53	266.85
31	56.85	71.74	29.13	282.37

⚠️ Barrick, Teck, HudBay, Agnico Stock in CAD
The above reflects the Toronto Stock Exchange’s closing prices.
It is not a pure gold, silver or base metal price indicator (influenced by market).
It is not financial advice—only raw data for your independent research.
For physical gold/silver & base metal prices, refer to spot and dealer data below.

Sector Support

March	Finning	Toromont
2	97.96	213.79
3	93.34	210.32
4	93.15	207.06
5	88.75	204.27
6	87.62	199.61
9	88.44	200.32
10	89.80	201.68
11	89.66	201.79
12	89.74	196.69
13	89.66	197.65
16	90.05	199.80
17	91.10	199.80
18	88.66	196.20
19	82.95	192.66
20	80.65	190.06
23	86.46	195.90
24	87.16	194.32
25	88.10	193.77
26	86.50	190.54
27	85.35	189.99
30	83.63	189.96
31	86.08	194.76

CAD Spot Gold Silver

March	GOLD	SILVER
2	7,314.53	123.95
3	7,031.17	113.80
4	7,053.45	114.67
5	6,947.37	112.29
6	7,017.63	114.44
9	6,985.25	118.68
10	7,057.92	119.93
11	6,984.38	114.89
12	6,950.05	114.41
13	6,883.03	110.35
16	6,860.38	110.83
17	6,849.13	108.31
18	6,641.11	104.05
19	6,376.78	99.46
20	6,163.47	92.91
23	6,093.42	95.49
24	6,253.60	100.18
25	6,212.62	97.46
26	6,103.10	94.99
27	6,242.80	96.74
30	6,281.89	97.21
31	6,533.97	104.24

Base Metals

March	COPPER	NICKEL	ZINC	LEAD
2	18,202.84	23,700.20	4,564.01	2,636.32
3	17,602.75	23,279.80	4,558.62	2,651.19
4	17,722.59	23,686.04	4,539.92	2,617.03
5	17,484.22	23,686.04	4,461.69	2,591.44
6	17,306.71	23,284.20	4,403.75	2,585.86
9	17,382.53	23,430.54	4,453.94	2,566.37
10	17,620.83	23,581.23	4,516.04	2,566.10
11	17,289.40	23,691.68	4,459.99	2,573.70
12	17,533.36	23,696.36	4,455.74	2,578.28
13	17,573.51	23,357.67	4,462.87	2,560.83
16	17,539.88	23,708.82	4,435.39	2,562.44
17	17,387.77	23,379.00	4,369.43	2,588.11
18	16,978.02	23,333.41	4,271.91	2,562.67
19	16,298.48	22,359.43	4,168.57	2,519.32
20	16,348.24	22,952.97	4,165.16	2,543.00
23	16,546.93	22,820.68	4,189.12	2,565.19
24	16,463.86	23,165.77	4,177.16	2,553.72
25	16,636.52	23,521.50	4,170.65	2,578.96
26	16,642.49	23,620.22	4,264.29	2,558.81
27	16,804.45	23,648.41	4,286.68	2,579.51
30	16,915.19	23,781.04	4,342.41	2,600.71
31	16,829.49	23,446.26	4,437.35	2,592.63

Dealer Prices

March	G – 1 oz bar Dealer Buys	G – 1 oz coin Dealer Buys	G – 1 oz bar Dealer Sells	G – 1 oz coin Dealer Sells	S – 1 oz bar Dealer Buys	S – 1 oz coin Dealer Buys	S – 1 oz bar Dealer Sells	S – 1 oz coin Dealer Sells
2	6,947	7,130	7,452	7,488	111.74	119.18	134.33	132.47
3	6,669	6,845	7,154	7,189	102.34	109.16	123.03	121.33
4	6,706	6,882	7,193	7,228	103.36	110.25	124.26	122.53
5	6,594	6,768	7,073	7,108	101.30	108.05	121.78	120.09
6	6,674	6,849	7,158	7,193	103.13	110.01	123.99	122.27
9	6,628	6,802	7,109	7,144	106.92	114.05	128.54	126.76
10	6,712	6,888	7,199	7,234	108.05	115.26	129.90	128.10
11	6,659	6,834	7,142	7,177	104.11	111.05	125.17	123.43
12	6,604	6,778	7,084	7,118	103.34	110.23	124.24	122.51
13	6,559	6,732	7,036	7,070	99.76	106.41	119.93	118.27
16	6,511	6,682	6,984	7,018	99.98	106.65	120.20	118.53
17	6,505	6,677	6,978	7,012	97.54	104.04	117.27	115.64
18	6,302	6,468	6,760	6,793	94.12	100.40	113.16	111.59
19	6,044	6,203	6,483	6,515	89.36	95.32	107.43	105.94
20	5,865	6,019	6,291	6,321	83.88	89.47	100.84	99.44
23	5,795	5,948	6,216	6,246	86.06	91.80	103.46	102.03
24	5,934	6,090	6,365	6,396	90.14	96.15	108.37	106.87
25	5,906	6,061	6,335	6,366	87.73	93.58	105.47	104.01
26	5,795	5,947	6,216	6,246	85.72	91.43	103.05	101.62
27	5,939	6,096	6,371	6,402	87.19	93.00	104.82	103.37
30	5,967	6,124	6,400	6,432	87.56	93.40	105.27	103.81
31	6,203	6,366	6,653	6,686	93.96	100.22	112.96	111.39

Sources:

Bank of Canada
Investing.com
KITCO
Canada Gold – Ottawa

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Monthly mining insights

Spot vs. Dealer: Real Cost of Buying and Selling in February 2026

The following is not really about mining per se but it can be considered interesting…

Spot prices can be thought of as theoretical. If you walk into a dealer with an ounce of gold, you’re not getting spot. And if you want to buy one? You’re paying a premium. Here’s the breakdown of those dollar differences for February 2026.

Gold: The Buy-Side Gap

When selling a 1 oz gold bar to a dealer, the gap was substantial. On February 2nd, spot gold sat at $6,530.20, but dealers were buying bars at $6,211. That’s a difference of $319.20 you’d leave on the table. The gap fluctuated throughout the month. On the 16th, it narrowed slightly to $313.97—the smallest spread. But by the 27th, with spot at $7,201.84 and dealers buying at $6,832, the gap had widened to $369.84.

Gold: The Sell-Side Premium

Buying from a dealer tells a different story. On February 2nd, the premium over spot was relatively modest—just $72.80. Dealers were selling at $6,603 while spot was $6,530.20. But that premium wasn’t consistent. On February 16th, the sell premium spiked to $192.03. By month’s end, it had tightened again to $126.16 on the 27th.

Silver: A Wider Relative Spread

Silver showed even more dramatic spreads on a percentage basis. On February 5th—the day silver spot crashed to $95.45—dealers were buying bars at just $86.43. That’s an $9.02 gap, but percentage-wise, it’s nearly 9.5% below spot. On the selling side that same day, dealers wanted $103.90, an $8.45 premium over spot.

Throughout the month, the silver buy-side gap ranged from $8.34 on the 16th to $12.67 on the 27th. The sell premium hovered between $7.52 and $10.76.

What This Means

For gold in February, dealers typically paid between $313 and $370 less than spot when buying, while charging $72 to $192 over spot when selling. That’s a total spread ranging from roughly $400 to $550 per ounce.

For silver, the absolute numbers look smaller—gaps of $8 to $13 on buys, premiums of $7 to $11 on sells. But proportionally, that’s a much bigger bite. The total spread on silver often exceeded $20 per ounce on a metal trading around $100 to $128.

The Raw Data

The spreads tell the real story of what it costs to participate in the physical market. For the complete daily breakdown, check out the full raw data post for February.