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Australian (ASX) Metals and Mining Industry Analysis

UpdatedNov 25, 2025
DataAggregated Company Financials
Companies675
  • 7D2.1%
  • 3M10.1%
  • 1Y25.3%
  • YTD27.4%

The Metals and Mining industry is up 2.1% in the last week, with BHP Group up 2.1%. In the last 12 months, the industry was up 25%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the Australian Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 26 Nov 2025AU$552.2bAU$201.5bAU$19.2b20.7x28.8x2.7x
Fri, 24 Oct 2025AU$572.5bAU$201.8bAU$19.3b23x29.6x2.8x
Sun, 21 Sep 2025AU$509.7bAU$200.5bAU$19.1b17.9x26.6x2.5x
Tue, 19 Aug 2025AU$500.5bAU$204.7bAU$21.3b15.2x23.5x2.4x
Thu, 17 Jul 2025AU$457.9bAU$204.3bAU$21.6b13.8x21.2x2.2x
Sat, 14 Jun 2025AU$449.7bAU$205.6bAU$21.8b12.9x20.6x2.2x
Mon, 12 May 2025AU$437.4bAU$206.5bAU$21.9b12.4x20x2.1x
Wed, 09 Apr 2025AU$395.1bAU$215.4bAU$23.5b11.2x16.8x1.8x
Fri, 07 Mar 2025AU$428.6bAU$207.9bAU$22.2b12.4x19.3x2.1x
Sun, 02 Feb 2025AU$451.8bAU$214.0bAU$21.6b13.4x21x2.1x
Tue, 31 Dec 2024AU$438.1bAU$213.5bAU$21.6b12.9x20.3x2.1x
Thu, 28 Nov 2024AU$447.6bAU$208.1bAU$20.8b11.7x21.5x2.2x
Sat, 26 Oct 2024AU$473.1bAU$205.0bAU$20.5b13.5x23.1x2.3x
Mon, 23 Sep 2024AU$437.3bAU$201.8bAU$20.1b12.5x21.8x2.2x
Wed, 21 Aug 2024AU$431.0bAU$206.6bAU$20.8b12.3x20.7x2.1x
Fri, 19 Jul 2024AU$471.1bAU$206.6bAU$20.5b14.3x23x2.3x
Sun, 16 Jun 2024AU$472.4bAU$210.1bAU$21.0b13.9x22.5x2.2x
Tue, 14 May 2024AU$497.0bAU$210.6bAU$21.1b14.9x23.5x2.4x
Thu, 11 Apr 2024AU$506.6bAU$212.0bAU$21.3b13.2x23.8x2.4x
Sat, 09 Mar 2024AU$492.3bAU$211.0bAU$21.9b12.8x22.5x2.3x
Mon, 05 Feb 2024AU$556.5bAU$224.8bAU$33.2b11.8x16.8x2.5x
Wed, 03 Jan 2024AU$590.1bAU$218.7bAU$31.9b12.7x18.5x2.7x
Fri, 01 Dec 2023AU$538.0bAU$222.9bAU$32.7b10.8x16.4x2.4x
Sun, 29 Oct 2023AU$554.4bAU$246.5bAU$32.9b10.2x16.8x2.2x
Tue, 26 Sep 2023AU$519.9bAU$226.4bAU$33.9b11.1x15.4x2.3x
Thu, 24 Aug 2023AU$527.5bAU$228.6bAU$40.4b10.2x13.1x2.3x
Sat, 22 Jul 2023AU$548.6bAU$231.6bAU$48.2b9.9x11.4x2.4x
Mon, 19 Jun 2023AU$558.7bAU$228.8bAU$47.4b10x11.8x2.4x
Wed, 17 May 2023AU$542.4bAU$233.0bAU$48.6b9.6x11.2x2.3x
Fri, 14 Apr 2023AU$560.0bAU$232.2bAU$48.5b9.6x11.6x2.4x
Sun, 12 Mar 2023AU$534.0bAU$231.3bAU$49.2b9.9x10.9x2.3x
Tue, 07 Feb 2023AU$574.7bAU$225.5bAU$52.2b12x11x2.5x
Thu, 05 Jan 2023AU$536.3bAU$225.9bAU$51.9b10.9x10.3x2.4x
Sat, 03 Dec 2022AU$548.0bAU$227.5bAU$52.4b11.9x10.5x2.4x
Price to Earnings Ratio

10.5x


Total Market Cap: AU$548.0bTotal Earnings: AU$52.4bTotal Revenue: AU$227.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 18.6x202320242025
Current Industry PE
  • Investors are optimistic on the Australian Metals and Mining industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 28.8x which is higher than its 3-year average PE of 18.6x.
  • The 3-year average PS ratio of 2.3x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 28% per year over the last three years,
  • Revenues have also declined 4.0% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Australian Materials industry?

AU Market0.92%
Materials2.07%
Metals and Mining2.14%
Silver11.07%
Gold5.57%
Steel4.81%
Precious Metals and Minerals1.71%
Diversified Metals and Mining0.033%
Aluminum-0.71%
Copper-1.01%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 21.7% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Copper industry, expecting annual earnings growth of 22% over the next 5 years.
  • In contrast, the Silver industry is expected to see its earnings decline by 35% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BHP BHP GroupAU$41.822.1%
+AU$4.4b		5.1%PE15.2x
FMG FortescueAU$21.505.6%
+AU$3.5b		15.3%PE12.7x
NST Northern Star ResourcesAU$26.764.6%
+AU$1.7b		51.9%PE28.5x
EVN Evolution MiningAU$11.655.5%
+AU$1.2b		133.0%PE25.5x
BSL BlueScope SteelAU$23.986.1%
+AU$600.8m		10.2%PE141.7x

Latest News

LYC
AU$15.00
Lynas Rare Earths
7D
-2.8%
1Y
118.3%

LYC: Upgrades And Exploration Momentum Will Offset Supply Chain Uncertainties Ahead

Analysts have raised their price target for Lynas Rare Earths from A$15.94 to A$16.44, citing discounted share prices as well as optimistic expectations for exploration growth and improved profitability metrics. Analyst Commentary Recent analyst reports provide fresh perspectives on Lynas Rare Earths' outlook, highlighting both optimism for growth and potential areas of caution.
BHP
AU$41.82
BHP Group
7D
2.1%
1Y
5.1%
ZIM
AU$17.10
Zimplats Holdings
7D
-3.4%
1Y
20.5%

Zimplats Holdings (ASX:ZIM) May Have Issues Allocating Its Capital

Nov 23
Zimplats Holdings (ASX:ZIM) May Have Issues Allocating Its Capital
FMG
AU$21.50
Fortescue
7D
5.6%
1Y
15.3%

FMG: Dividend Payout Will Weigh Against Sector Risks After Downgrade

Analysts have raised their price target for Fortescue slightly, increasing it to approximately A$18.99 per share from A$18.93. This adjustment follows minor revisions to revenue growth and profit margin forecasts based on their review of recent results.
ASN
AU$0.071
Anson Resources
7D
-29.0%
1Y
9.2%
BSL
AU$23.98
BlueScope Steel
7D
6.1%
1Y
10.2%
WGX
AU$6.01
Westgold Resources
7D
6.2%
1Y
114.6%

WGX: Share Buyback And Dividend Increases Are Expected To Boost Sentiment

Narrative Update on Westgold Resources: Analyst Price Target Adjustment Analysts have modestly revised their price target for Westgold Resources, maintaining their estimate at approximately $6.83 per share. Incremental changes in discount rates and forward earnings expectations are key factors influencing the updated valuation.
NST
AU$26.76
Northern Star Resources
7D
4.6%
1Y
51.9%

NST: Gold Price Momentum And Stake Sale Will Shape Performance Ahead

Narrative Update on Northern Star Resources The analyst price target for Northern Star Resources has been raised from A$18 to A$22, reflecting analysts' expectations of stronger growth prospects, supported by higher gold prices. Analyst Commentary Recent street research highlights a range of perspectives on Northern Star Resources following the increase in its price target.
S32
AU$3.21
South32
7D
2.9%
1Y
-14.9%

S32: Outlook Will Reflect Mine Sale Talks And Stable Operations Into 2026

South32’s analyst price target has been modestly raised from $3.30 to $3.32, as analysts cite improved revenue growth forecasts. This increase is partially offset by a slightly higher discount rate and a marginally lower profit margin outlook.
EVN
AU$11.65
Evolution Mining
7D
5.5%
1Y
133.0%

Evolution Mining Limited's (ASX:EVN) CEO Looks Like They Deserve Their Pay Packet

Nov 13
Evolution Mining Limited's (ASX:EVN) CEO Looks Like They Deserve Their Pay Packet
CYL
AU$6.93
Catalyst Metals
7D
-4.5%
1Y
150.2%

Shareholders May Not Be So Generous With Catalyst Metals Limited's (ASX:CYL) CEO Compensation And Here's Why

Nov 06
Shareholders May Not Be So Generous With Catalyst Metals Limited's (ASX:CYL) CEO Compensation And Here's Why
GGP
AU$7.41
Greatland Resources
7D
-3.6%
1Y
n/a
NVA
AU$1.09
Nova Minerals
7D
-9.2%
1Y
336.0%
SGM
AU$16.88
Sims
7D
11.9%
1Y
30.4%
BOC
AU$0.57
Bougainville Copper
7D
-47.2%
1Y
25.3%

Is Bougainville Copper (ASX:BOC) In A Good Position To Invest In Growth?

Oct 13
Is Bougainville Copper (ASX:BOC) In A Good Position To Invest In Growth?
MEI
AU$0.16
Meteoric Resources
7D
-8.6%
1Y
73.9%