Further Upside For Nickel Mines Limited (ASX:NIC) Shares Could Introduce Price Risks After 29% Bounce
Nickel Mines Limited ( ASX:NIC ) shares have continued their recent momentum with a 29% gain in the last month alone...
Has the Australian Metals and Mining Industry valuation changed over the past few years?
|Sat, 27 Nov 2021||AU$467.6b||AU$190.1b||AU$36.1b||14.6x|
|Mon, 25 Oct 2021||AU$451.7b||AU$184.5b||AU$34.7b||14.6x|
|Wed, 22 Sep 2021||AU$434.1b||AU$188.3b||AU$38.2b||11.9x|
|Fri, 20 Aug 2021||AU$471.5b||AU$183.9b||AU$37.2b||12.2x|
|Fri, 04 Jun 2021||AU$485.6b||AU$162.6b||AU$29.2b||14.4x|
|Mon, 08 Mar 2021||AU$475.3b||AU$144.6b||AU$21.3b||13.5x|
|Thu, 10 Dec 2020||AU$382.9b||AU$146.7b||AU$21.1b||12.6x|
|Wed, 02 Sep 2020||AU$373.1b||AU$143.1b||AU$20.8b||12.5x|
|Sat, 06 Jun 2020||AU$331.7b||AU$160.1b||AU$25.5b||12.9x|
|Tue, 10 Mar 2020||AU$301.8b||AU$148.8b||AU$23.8b||10.2x|
|Mon, 02 Dec 2019||AU$332.0b||AU$148.9b||AU$23.8b||12.7x|
|Thu, 05 Sep 2019||AU$326.0b||AU$141.7b||AU$22.0b||13.8x|
|Sun, 09 Jun 2019||AU$321.2b||AU$136.3b||AU$21.5b||13.6x|
|Sat, 02 Mar 2019||AU$316.3b||AU$133.8b||AU$20.8b||13.3x|
|Tue, 04 Dec 2018||AU$271.1b||AU$128.9b||AU$18.4b||11.1x|
Current Industry PE: Investors are relatively neutral on the industry at the moment, considering it's trading close to its 3-year average PE ratio of 12.7x. It appears they believe that earnings will grow in-line with historical growth rates.
Past Earnings Growth: The earnings for companies in the Metals and Mining industry have grown 25% per year over the last three years, and revenues for these companies have grown 14% per year. This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Which industries have driven the changes within the Australian Metals and Mining industry?
|Diversified Metals and Mining||2.76%|
|Precious Metals and Minerals||-9.96%|
Industry PE: Investors are most optimistic about the Silver industry, which is trading close to its 3-year average PE ratio of 51.7x. It looks like they are confident that earnings will grow faster in the future than they have historically. Meanwhile, investors are most pessimistic about the Steel industry, which is trading below its 3-year average of 9.6x.
Forecasted Growth: Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 8.6% over the next 5 years. However this is lower than its past earnings growth rate of 18% per year. Meanwhile, the Steel industry is expected to see its earnings decline by 32% per year over the next few years.
Which companies have driven the market over the last 7 days?
Northern Star Resources
Gold Road Resources
Fortescue Metals Group