Has the Australian Copper Industry valuation changed over the past few years?

Investors are optimistic on the Australian Copper industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 61.3x which is higher than its 3-year average PE of -2.1x. The 3-year average PS ratio of 3.0x is lower than the industry's current PS ratio of 5.1x.

How does Australian Copper compare with similar industries?

There are no additional sub-industries under this industry.

Australian (ASX) Copper Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 13 Aug 2026	AU$13.2b	AU$2.6b	AU$215.6m	51.1x	61.3x	5.1x
Sat, 11 Jul 2026	AU$11.7b	AU$2.6b	AU$218.8m	44.5x	53.7x	4.5x
Mon, 08 Jun 2026	AU$12.3b	AU$2.6b	AU$210.0m	46.1x	58.8x	4.8x
Wed, 06 May 2026	AU$9.3b	AU$2.6b	AU$213.0m	40.4x	43.8x	3.6x
Fri, 03 Apr 2026	AU$9.1b	AU$2.6b	AU$220.1m	37.8x	41.2x	3.4x
Sun, 01 Mar 2026	AU$11.1b	AU$2.6b	AU$203.5m	48.3x	54.5x	4.3x
Tue, 27 Jan 2026	AU$10.5b	AU$2.5b	AU$107.0m	40.5x	97.8x	4.3x
Thu, 25 Dec 2025	AU$9.7b	AU$2.5b	AU$111.2m	36.6x	86.8x	3.9x
Sat, 22 Nov 2025	AU$8.0b	AU$2.6b	AU$117.3m	29x	67.8x	3.1x
Mon, 20 Oct 2025	AU$9.8b	AU$3.1b	AU$29.2m	30.8x	335x	3.2x
Wed, 17 Sep 2025	AU$6.5b	AU$2.5b	AU$105.5m	24.5x	61.9x	2.6x
Fri, 15 Aug 2025	AU$5.9b	AU$2.3b	AU$71.3m	24x	82.7x	2.5x
Sun, 13 Jul 2025	AU$5.6b	AU$2.3b	AU$70.3m	22.9x	79.6x	2.4x
Tue, 10 Jun 2025	AU$5.9b	AU$2.3b	AU$71.4m	23.5x	82.4x	2.5x
Thu, 08 May 2025	AU$5.2b	AU$2.3b	AU$72.3m	21.4x	72.3x	2.2x
Sat, 05 Apr 2025	AU$4.5b	AU$2.4b	AU$79.7m	17.8x	56.4x	1.9x
Mon, 03 Mar 2025	AU$5.4b	AU$2.4b	AU$98.8m	20.5x	54.2x	2.2x
Wed, 29 Jan 2025	AU$5.0b	AU$2.1b	-AU$111,116,791.60	n/a	-44.6x	2.4x
Fri, 27 Dec 2024	AU$4.9b	AU$2.1b	-AU$111,174,040.00	n/a	-44.1x	2.4x
Sun, 24 Nov 2024	AU$5.1b	AU$2.0b	-AU$92,834,950.40	n/a	-55.4x	2.6x
Tue, 22 Oct 2024	AU$5.5b	AU$1.9b	-AU$92,102,864.80	n/a	-60.3x	2.9x
Thu, 19 Sep 2024	AU$4.4b	AU$1.9b	-AU$95,916,507.80	n/a	-46.1x	2.3x
Sat, 17 Aug 2024	AU$4.4b	AU$1.8b	-AU$272,548,570.00	n/a	-16.2x	2.5x
Mon, 15 Jul 2024	AU$4.7b	AU$1.8b	-AU$269,963,324.50	n/a	-17.3x	2.7x
Wed, 12 Jun 2024	AU$4.7b	AU$1.8b	-AU$273,169,650.00	n/a	-17.3x	2.6x
Fri, 10 May 2024	AU$5.0b	AU$1.8b	-AU$273,588,879.00	n/a	-18.3x	2.8x
Sun, 07 Apr 2024	AU$4.5b	AU$1.8b	-AU$273,519,007.50	n/a	-16.3x	2.5x
Tue, 05 Mar 2024	AU$3.9b	AU$1.8b	-AU$272,519,717.50	n/a	-14.2x	2.1x
Thu, 01 Feb 2024	AU$13.2b	AU$3.8b	-AU$55,981,201.00	45.6x	-235x	3.5x
Sat, 30 Dec 2023	AU$13.2b	AU$3.7b	-AU$53,443,662.00	45.6x	-247.8x	3.6x
Mon, 27 Nov 2023	AU$12.7b	AU$3.8b	-AU$55,872,891.00	45.6x	-227.7x	3.4x
Wed, 25 Oct 2023	AU$12.5b	AU$3.8b	-AU$58,735,359.00	45.6x	-213.4x	3.3x
Fri, 22 Sep 2023	AU$12.7b	AU$3.8b	-AU$56,573,550.00	45.6x	-224.5x	3.3x
Sun, 20 Aug 2023	AU$12.8b	AU$4.1b	AU$144.4m	53.2x	88.4x	3.1x


AU Market	1.31%
Materials	8.04%
Metals and Mining	8.24%
Copper	8.66%
Gold	16.96%
Silver	15.72%
Diversified Metals and Mining	6.96%
Precious Metals and Minerals	5.81%
Aluminum	1.58%
Steel	0.84%

Company	Last Price	7D	1Y	Valuation
SFR Sandfire Resources	AU$21.57	4.5% +AU$433.9m	84.0%	PE51.8x
FFM FireFly Metals	AU$1.99	8.7% +AU$123.0m	73.0%	PB3.1x
AIS Aeris Resources	AU$0.43	11.7% +AU$53.9m	115.0%	PE8.1x
HCH Hot Chili	AU$1.68	7.4% +AU$23.3m	161.7%	PB1.5x
AR1 Austral Resources Australia	AU$0.07	7.7% +AU$12.5m	n/a	PS24.7x

Announcement • Aug 04

Firefly Metals Announces High-Grade Drilling Results for Green Bay Copper-Gold Project

FireFly Metals Ltd. has returned more results which demonstrate the exceptional quality of the high-grade zones which will drive production when operations are resumed. The upper VMS zones continue to deliver high-grade copper and gold intersections, including: 11.5m @ 13.2% CuEq (11.1% Cu & 2.1g/t Au) in hole MUG26-101 (~ true thickness); 18.9m @ 8.2% copper equivalent (CuEq) (7.0% Cu & 1.3g/t Au) and a further zone of 11.1m @ 12.1% CuEq (9.5% Cu & 2.4g/t Au) in hole MUG26-079 (~ true thickness); 13.5m @ 11.1% CuEq (8.4% Cu & 2.6g/t Au) and a further zone of 18.9m @ 7.0% CuEq (6.3% Cu & 0.8g/t Au) in hole MUG26-083(~ true thickness); 19.8m @ 7.2% CuEq (6.6% Cu & 0.7g/t Au) in hole MUG26-086(~ true thickness). Drilling from the +800m-long high-grade Core Zone returned more significant results, including 65.3m @ 4.3% CuEq (3.6% Cu & 0.7g/t Au) in hole MUG26-060(~ true thickness). The high-grade Core Zone remains open with the deepest hole drilled to date returning 49.0m @ 6.1% CuEq. Significant intersections were also returned from close-spaced drilling in the footwall zone stringer-style mineralisation. These included: 36.9m @ 2.7% CuEq (2.6% Cu & 0.1g/t Au) and a further zone grading 21.4m @ 2.3% CuEq (2.2% Cu & 0.2g/t Au) in hole MUG20-067 (~ true thickness). These infill drilling results will be incorporated into an updated Mineral Resource Estimate (MRE) which will underpin the economic study set for release this month. The underground drilling has been aimed primarily at increasing Mineral Resources in the higher-confidence Measured & Indicated categories, pivotal to the economic studies. The results are particularly important because they demonstrate the strong continuity and grade of the mineralisation across the upper copper-gold Volcanogenic Massive Sulphide (VMS) lenses, the lower stringer-style copper footwall zone (FWZ) and the rich high-grade core zone (Core Zone) which marks the convergence of VMS and FWZ. The current Green Bay MRE stands at 50.4Mt @ 2.0% CuEq in the Measured & Indicated (M&I) categories and a further 29.3Mt @ 2.5% CuEq in the Inferred category. The high-grade Core Zone contains 8.8Mt @ 3.9% CuEq of M&I, and an additional 10.9Mt @ 3.8% CuEq of Inferred, Mineral Resource. Six rigs continue to operate underground at the Ming Mine. Three rigs continue with regional exploration drilling, including drilling of geophysical targets and maiden drilling at the Tilt Cove project. The Company is well funded to achieve its growth objectives with approximately AUD 196.4 million in cash and liquid investments (unaudited) as at 30 June 2026. The six-rig underground drilling program continued to focus on increasing data density in the higher-grade VMS and Core Zones of the deposit. These results will be incorporated into the imminent MRE update which will underpin the concurrent economic studies. The Preliminary Economic Assessment (PEA) remains on track for completion by the end of August 2026. The current MRE for the Green Bay project stands at 50.4Mt @ 2.0% CuEq M&I and 29.3Mt @ 2.5% CuEq Inferred. Infill drilling completed since the 18 November 2025 MRE (November 2025 MRE) is expected to convert much of the Mineral Resource into the higher-confidence M&I categories, allowing for the upcoming economic study to incorporate at least 70% M&I in the mine plan, and also paving the way for the declaration of a maiden Ore Reserve before the end of 2026. Drilling of the VMS lodes has confirmed the presence of strong copper and gold mineralisation to the west and down-plunge of existing mine development. This is significant because the strike width of the sulphide horizons now extends beyond 400m in places and significantly enhances the copper tonnes per vertical metre in the deposit. Recent intersections include 11.5m @ 13.2% CuEq, 13.5m @ 11.1% CuEq and 18.9m @ 8.2% CuEq. Infill drilling of the high-grade convergent Core Zone continues to return exceptional copper and gold intersections over considerable thicknesses. Latest results from the Core Zone included 65.3m @ 4.3% CuEq, further demonstrating continuity of what is shaping up as an economically significant part of future mining plans being considered in the upcoming economic studies. The Core Zone has a current Mineral Resource of 8.8Mt @ 3.9% CuEq M&I and 10.9Mt @ 3.8% CuEq Inferred with significant potential to grow. The deepest hole drilled to date returned an intersection of 49.0m @ 6.1% CuEq. Select holes were extended to test mineralisation in the lower FWZ that hosts copper stringer-style mineralisation. Results returned included thick high-grade zones of 36.9m @ 2.7% CuEq. Regional exploration is starting to accelerate following the winter period. Three surface rigs are currently testing geophysical anomalies at Green Bay. Maiden drilling at the Company’s Tilt Cove project has commenced with results pending. FireFly is well funded to continue its growth drilling, economic studies and pre-construction early works activities. The Company has approximately AUD 196.4 million in cash and liquid investments (unaudited) as at 30 June 2026. Drilling at the Ming underground copper-gold mine recommenced following FireFly’s acquisition of the Green Bay Copper-Gold Project in October 2023. In total, FireFly has completed 197,714m of underground diamond drilling up to 30 June 2026. This announcement contains the results of 42 completed drill holes. The drilling results focus on infill drilling and holes targeting the lateral margins of the mineralisation. Logging and analysis of additional drill holes is ongoing. There are two distinct styles of mineralisation present at the Ming Mine, consisting of a series of upper copper-gold rich VMS lenses underlain by the broad copper-rich stringer FWZ. This release contains final holes to be included in the MRE update that is currently underway. The FWZ is extensive, with the copper stringer mineralisation observed over thicknesses of approximately 150m and widths exceeding 200m. The known strike of the mineralisation defined to date is three kilometres and it remains open down-plunge. The high-grade Core Zone exists where the VMS converges with the upper FWZ mineralisation down-plunge. The Core Zone has a current Mineral Resource of 8.8Mt @ 3.9% CuEq M&I and 10.9Mt @ 3.8% CuEq Inferred. Six drill rigs are currently operating underground, with the focus split between both lateral step-out extension (two rigs) and infill Mineral Resource conversion drilling (four rigs). The majority of drilling reported in this announcement has been conducted from the 805L drill drive with several holes drilled from the 685L and 790L.

Australian (ASX) Copper Industry Analysis

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Latest News

SFR: Recent Downgrade May Signal Limited Upside Despite Rich Earnings Multiple

Consensus EPS estimates increase by 12%

Culpeo Minerals Limited has completed a Derivatives Offering in the amount of AUD 0.595042 million.

Firefly Metals Announces High-Grade Drilling Results for Green Bay Copper-Gold Project

Consensus revenue estimates increase by 22%, EPS downgraded

Hot Chili Limited Reports Drilling Results and Advances Maiden Mineral Resource Estimate for La Verde Discovery

HGO: Emily Star Development Will Support Future Upside While Keeping Risks Balanced

Price target increased by 13% to AU$0.85

Independent Non-Executive Director recently bought AU$60k worth of stock