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Australian (ASX) Diversified Metals and Mining Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies462
  • 7D4.4%
  • 3M19.7%
  • 1Y42.7%
  • YTDn/a

The Diversified Metals and Mining industry is up 4.4% in the last week, with BHP Group up 4.1%. Meanwhile, 29Metals actually underperformed within the industry, shrinking 23% in the last week. In the last 12 months, the industry was up 43%. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026AU$397.7bAU$105.7bAU$8.9b21.2x44.5x3.8x
Fri, 26 Dec 2025AU$352.0bAU$108.6bAU$9.4b21.2x37.5x3.2x
Sun, 23 Nov 2025AU$312.8bAU$112.5bAU$9.7b16.6x32.4x2.8x
Tue, 21 Oct 2025AU$335.6bAU$112.0bAU$9.6b19.3x34.9x3x
Thu, 18 Sep 2025AU$295.0bAU$109.6bAU$9.2b14.2x32.2x2.7x
Sat, 16 Aug 2025AU$302.5bAU$117.0bAU$11.8b13.4x25.5x2.6x
Mon, 14 Jul 2025AU$275.5bAU$116.1bAU$11.7b13.5x23.6x2.4x
Wed, 11 Jun 2025AU$266.3bAU$117.0bAU$11.8b12.4x22.5x2.3x
Fri, 09 May 2025AU$256.6bAU$118.4bAU$12.1b11.7x21.2x2.2x
Sun, 06 Apr 2025AU$245.6bAU$124.6bAU$13.1b11.3x18.7x2x
Tue, 04 Mar 2025AU$276.1bAU$121.6bAU$12.5b11x22.1x2.3x
Thu, 30 Jan 2025AU$277.0bAU$124.1bAU$9.1b13x30.4x2.2x
Sat, 28 Dec 2024AU$278.0bAU$124.3bAU$9.2b13.4x30.3x2.2x
Mon, 25 Nov 2024AU$285.9bAU$119.8bAU$8.6b11.9x33.1x2.4x
Wed, 23 Oct 2024AU$299.5bAU$117.1bAU$8.4b12.7x35.8x2.6x
Fri, 20 Sep 2024AU$282.2bAU$115.3bAU$8.2b15x34.5x2.4x
Sun, 18 Aug 2024AU$279.9bAU$120.6bAU$9.1b15x30.7x2.3x
Tue, 16 Jul 2024AU$308.7bAU$119.0bAU$9.0b15.6x34.3x2.6x
Thu, 13 Jun 2024AU$313.9bAU$121.4bAU$9.2b15.2x34x2.6x
Sat, 11 May 2024AU$318.8bAU$121.6bAU$9.2b14.7x34.7x2.6x
Mon, 08 Apr 2024AU$318.7bAU$123.5bAU$9.3b14.2x34.4x2.6x
Wed, 06 Mar 2024AU$320.9bAU$124.7bAU$9.8b14.8x32.7x2.6x
Fri, 02 Feb 2024AU$336.2bAU$129.1bAU$21.2b9.7x15.9x2.6x
Sun, 31 Dec 2023AU$373.6bAU$124.7bAU$20.4b10.8x18.4x3x
Tue, 28 Nov 2023AU$339.3bAU$127.9bAU$21.0b9.6x16.2x2.7x
Thu, 26 Oct 2023AU$335.4bAU$132.1bAU$21.8b9.7x15.4x2.5x
Sat, 23 Sep 2023AU$341.0bAU$130.2bAU$21.7b8.4x15.7x2.6x
Mon, 21 Aug 2023AU$343.6bAU$141.6bAU$35.3b8.4x9.7x2.4x
Wed, 19 Jul 2023AU$361.9bAU$134.7bAU$33.5b9.2x10.8x2.7x
Fri, 16 Jun 2023AU$366.0bAU$134.8bAU$33.6b8.7x10.9x2.7x
Sun, 14 May 2023AU$355.3bAU$137.5bAU$34.2b8.5x10.4x2.6x
Tue, 11 Apr 2023AU$352.8bAU$137.5bAU$34.2b8.4x10.3x2.6x
Thu, 09 Mar 2023AU$376.3bAU$137.8bAU$34.9b9.4x10.8x2.7x
Sat, 04 Feb 2023AU$390.3bAU$132.7bAU$34.7b11.9x11.2x2.9x
Price to Earnings Ratio

11.2x


Total Market Cap: AU$390.3bTotal Earnings: AU$34.7bTotal Revenue: AU$132.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Diversified Metals and Mining Industry Price to Earnings3Y Average 24.6x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Diversified Metals and Mining industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 44.5x which is higher than its 3-year average PE of 24.6x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Diversified Metals and Mining industry have declined 36% per year over the last three years,
  • Revenues have also declined 7.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Australian Diversified Metals and Mining compare with similar industries?

AU Market1.41%
Materials3.40%
Metals and Mining3.59%
Diversified Metals and Mining4.45%
Silver11.34%
Precious Metals and Minerals7.05%
Gold4.14%
Copper3.93%
Aluminum0.75%
Steel-0.92%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
BHP BHP GroupAU$50.604.4%
+AU$10.8b		29.3%PE20x
S32 South32AU$4.569.1%
+AU$1.7b		38.6%PE45x
MIN Mineral ResourcesAU$63.413.0%
+AU$366.0m		74.9%PS2.8x
EQR EQ ResourcesAU$0.1946.2%
+AU$280.2m		533.3%PS13.4x
IPX IperionXAU$8.048.8%
+AU$218.2m		104.1%PB20.5x

Latest News

TGN
AU$0.30
Tungsten Mining
7D
46.3%
1Y
248.8%
NIC
AU$0.95
Nickel Industries
7D
3.2%
1Y
19.4%

NIC: Higher Nickel Price Assumptions Will Support Future Earnings Rerating

Narrative update Analysts have lifted their fair value estimate for Nickel Industries from A$1.04 to about A$1.11, citing updated commodity price assumptions and refreshed sector valuations. These factors also underpin a higher A$1.05 price target in recent Street research.
LTR
AU$2.14
Liontown
7D
-1.4%
1Y
217.0%

LTR: Execution And Commodity Price Risks Will Pressure Overextended Earnings Assumptions

Analysts have lifted their price target for Liontown from A$1.07 to A$1.63, citing adjustments to discount rates, revenue growth assumptions, profit margin forecasts and a lower future P/E multiple in their updated models. Analyst Commentary Analysts updating their models around the new A$1.63 price target are weighing both upside potential and execution risks around Liontown's growth plans and valuation reset.
BHP
AU$50.60
BHP Group
7D
4.4%
1Y
29.3%
MIN
AU$63.41
Mineral Resources
7D
3.0%
1Y
74.9%
S32
AU$4.56
South32
7D
9.1%
1Y
38.6%

S32: Mozal Power Uncertainty And Improved Margins Will Shape Steady Outlook

Analysts have lifted their price target on South32 to around A$4.15 from about A$3.50, pointing to updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of this change. What's in the News South32 plans to place the Mozal Aluminium operation on care and maintenance on or around 15 March 2026 after not securing a new electricity supply agreement beyond the expiry of the current deal in March 2026 (Key Developments).
ELV
AU$7.90
Elevra Lithium
7D
-18.1%
1Y
139.4%
PLS
AU$4.81
PLS Group
7D
-2.8%
1Y
103.8%

PLS: Rich Multiple Will Likely Outweigh Stronger Margins Going Forward

Analysts have raised their price target on PLS Group from A$2.10 to A$2.40, citing updated assumptions based on higher expected revenue, an improved profit margin profile and a lower future P/E estimate in their models. What's in the News PLS Group is the new corporate name for Pilbara Minerals Limited, following an official change on November 25, 2025.
CHN
AU$2.44
Chalice Mining
7D
-7.2%
1Y
119.8%
ILU
AU$6.46
Iluka Resources
7D
-2.6%
1Y
42.0%

ILU: Fair Value View Will Rely On Stronger Margins And P/E

Analysts have nudged their price target for Iluka Resources slightly lower to A$7.25 from A$7.45, citing updated assumptions that pair more moderate revenue growth with a higher profit margin outlook, as well as a richer future P/E multiple. Valuation Changes Fair Value Estimate: reduced slightly to A$7.25 from A$7.45, reflecting a modest adjustment to the overall valuation.
29M
AU$0.52
29Metals
7D
19.8%
1Y
123.9%

29M: Sector Downgrade And Richer Assumptions Will Likely Cap Future Upside

Narrative update on 29Metals The analyst price target for 29Metals has shifted modestly higher to A$0.45 from A$0.40, as analysts factor in updated assumptions across fair value, discount rate, revenue growth, profit margin and future P/E, even though one firm now rates the stock Underperform within its broader 2026 sector outlook. Analyst Commentary Recent research reflects a mixed stance on 29Metals, with the price target lifted to A$0.45 while the rating has shifted to Underperform within a broader sector review for 2026.
IGO
AU$9.10
IGO
7D
-1.2%
1Y
76.7%
WC8
AU$0.41
Wildcat Resources
7D
-12.9%
1Y
68.8%
EQR
AU$0.19
EQ Resources
7D
46.2%
1Y
533.3%
ARU
AU$0.27
Arafura Rare Earths
7D
-7.0%
1Y
96.3%
IPX
AU$8.04
IperionX
7D
8.8%
1Y
104.1%