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Australian (ASX) Diversified Metals and Mining Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies466
  • 7D-3.7%
  • 3M22.6%
  • 1Y54.0%
  • YTDn/a

Over the last 7 days, the Diversified Metals and Mining industry has dropped 1.6%, driven by BHP Group declining 4.5%. On the other hand Lynas Rare Earths is actually up 10%. This takes the industry's 12 month performance to a gain of 54%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Mar 2026AU$421.7bAU$109.5bAU$12.7b16.6x33.2x3.9x
Sun, 01 Feb 2026AU$391.8bAU$105.3bAU$8.9b21.5x44.2x3.7x
Tue, 30 Dec 2025AU$352.1bAU$108.7bAU$9.4b21.5x37.5x3.2x
Thu, 27 Nov 2025AU$324.1bAU$112.0bAU$9.6b17.3x33.8x2.9x
Sat, 25 Oct 2025AU$334.1bAU$111.9bAU$9.6b19.3x34.8x3x
Mon, 22 Sep 2025AU$292.3bAU$110.6bAU$9.2b14.7x31.6x2.6x
Wed, 20 Aug 2025AU$304.4bAU$113.9bAU$8.3b13.9x36.8x2.7x
Fri, 18 Jul 2025AU$275.0bAU$117.7bAU$11.9b13.5x23x2.3x
Sun, 15 Jun 2025AU$259.2bAU$117.3bAU$11.9b12.5x21.8x2.2x
Tue, 13 May 2025AU$260.4bAU$118.9bAU$12.2b12x21.4x2.2x
Thu, 10 Apr 2025AU$227.2bAU$124.5bAU$13.1b10.6x17.3x1.8x
Sat, 08 Mar 2025AU$265.1bAU$120.4bAU$12.3b10.9x21.5x2.2x
Mon, 03 Feb 2025AU$280.8bAU$124.3bAU$9.1b13.5x30.7x2.3x
Wed, 01 Jan 2025AU$276.7bAU$124.3bAU$9.2b13.4x30.2x2.2x
Fri, 29 Nov 2024AU$283.7bAU$119.8bAU$8.6b12.4x32.8x2.4x
Sun, 27 Oct 2024AU$300.5bAU$118.3bAU$8.5b14.6x35.3x2.5x
Tue, 24 Sep 2024AU$282.3bAU$115.6bAU$8.2b14.3x34.3x2.4x
Thu, 22 Aug 2024AU$286.0bAU$119.7bAU$8.9b15x32x2.4x
Sat, 20 Jul 2024AU$295.9bAU$120.3bAU$9.1b15.6x32.5x2.5x
Mon, 17 Jun 2024AU$306.5bAU$121.4bAU$9.2b15.3x33.2x2.5x
Wed, 15 May 2024AU$317.0bAU$121.5bAU$9.2b15.3x34.3x2.6x
Fri, 12 Apr 2024AU$329.6bAU$122.8bAU$9.3b13.7x35.4x2.7x
Sun, 10 Mar 2024AU$318.4bAU$122.8bAU$9.7b13.9x32.8x2.6x
Tue, 06 Feb 2024AU$323.7bAU$124.3bAU$20.7b10x15.6x2.6x
Thu, 04 Jan 2024AU$369.2bAU$126.0bAU$20.6b10.5x17.9x2.9x
Sat, 02 Dec 2023AU$337.6bAU$127.6bAU$20.9b9.8x16.1x2.6x
Mon, 30 Oct 2023AU$337.8bAU$132.1bAU$21.8b9.7x15.5x2.6x
Wed, 27 Sep 2023AU$333.0bAU$130.8bAU$21.9b8.4x15.2x2.5x
Fri, 25 Aug 2023AU$346.7bAU$128.9bAU$22.7b9.4x15.3x2.7x
Sun, 23 Jul 2023AU$360.7bAU$136.1bAU$33.9b8.6x10.6x2.6x
Tue, 20 Jun 2023AU$367.2bAU$134.2bAU$33.4b8.8x11x2.7x
Thu, 18 May 2023AU$353.8bAU$137.4bAU$34.2b8.4x10.3x2.6x
Sat, 15 Apr 2023AU$366.4bAU$135.3bAU$33.6b8.7x10.9x2.7x
Mon, 13 Mar 2023AU$358.9bAU$138.1bAU$34.9b8.7x10.3x2.6x
Price to Earnings Ratio

10.3x


Total Market Cap: AU$358.9bTotal Earnings: AU$34.9bTotal Revenue: AU$138.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Diversified Metals and Mining Industry Price to Earnings3Y Average 25.6x202420252026
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 33.4x which is higher than its 3-year average PE of 25.6x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Diversified Metals and Mining industry have declined 29% per year over the last three years,
  • Revenues have also declined 7.5% 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 Market-2.64%
Materials-3.53%
Metals and Mining-3.44%
Diversified Metals and Mining-3.67%
Precious Metals and Minerals3.79%
Aluminum-1.60%
Gold-1.88%
Silver-3.77%
Steel-5.36%
Copper-6.91%
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
LYC Lynas Rare EarthsAU$19.0010.2%
+AU$1.8b		165.0%PE232.2x
EQR EQ ResourcesAU$0.3335.4%
+AU$411.9m		598.9%PS23.6x
LIN Lindian ResourcesAU$0.7642.5%
+AU$376.5m		655.0%PB21.7x
IPX IperionXAU$7.298.5%
+AU$193.4m		109.5%PB18.9x
ILU Iluka ResourcesAU$6.444.0%
+AU$107.8m		54.4%PS2.7x

Latest News

FRS
AU$0.69
Forrestania Resources
7D
7.0%
1Y
3,325.0%
LYC
AU$19.00
Lynas Rare Earths
7D
10.2%
1Y
165.0%

LYC: Full Operations And Offtake Agreements Will Limit Upside At Current Levels

Analysts have lifted their price target for Lynas Rare Earths from A$15.87 to about A$16.65, reflecting updated assumptions for fair value, discount rate, growth and margins as they factor in ramped-up production and new offtake agreements. Analyst Commentary Bullish Takeaways Bullish analysts point to Lynas Rare Earths' position as a leading producer of separated rare earths outside China as an important support for the updated fair value assumptions.
IMD
AU$4.36
Imdex
7D
3.3%
1Y
43.9%

IMD: Future Returns Will Reflect Neutral Coverage And Execution Dependent Upside

Analysts have raised their Imdex fair value estimate from A$3.64 to A$4.35, citing updated assumptions for revenue growth, profit margins, the discount rate, and future P/E multiples following recent Street coverage that began with a neutral stance. Analyst Commentary Street coverage initiating with a neutral stance, alongside the higher A$4.35 fair value estimate, reflects a mix of optimism about Imdex’s opportunity set and caution around execution and valuation.
MIN
AU$56.06
Mineral Resources
7D
-7.3%
1Y
159.3%

MIN: Higher Assessed Fair Value Will Balance Evolving Risks And Opportunities

Analysts have increased their price target for Mineral Resources from A$46.58 to A$59.77. This change reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E, which they view as better aligned with the stock’s current risk and earnings profile.
PRN
AU$2.24
Perenti
7D
-8.2%
1Y
71.6%

PRN: Updated Guidance And Higher P/E Multiple Will Shape Fairly Balanced Outlook

Analysts have lifted their price target on Perenti from A$2.39 to A$2.50, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Perenti issued revised earnings guidance for fiscal 2026, now expecting revenue between $3.45b and $3.55b, compared with the prior range of $3.45b to $3.65b (Corporate guidance).
PLS
AU$4.81
PLS Group
7D
-8.4%
1Y
158.6%

PLS: Higher Margins And Solid Output Will Support Stronger Share Pricing

Analysts have nudged their price target for PLS Group higher to A$5.80 from A$5.60, pointing to updated assumptions that combine a slightly higher discount rate with revised expectations for revenue growth, profit margins and future P/E. What's in the News PLS Group reported production results for the first half of fiscal 2026, with output of 432.8 Kt compared with 408.3 Kt in the same period a year earlier (Key Developments).
IGO
AU$7.89
IGO
7D
-11.6%
1Y
99.7%
ILU
AU$6.44
Iluka Resources
7D
4.0%
1Y
54.4%

ILU: Demanding Margin Assumptions Will Drive Overvaluation Concerns Going Forward

Analysts have lifted their price target on Iluka Resources to A$5.00 from A$5.00, supported by updated assumptions for higher revenue growth, stronger profit margins and a lower future P/E multiple reflected in recent research such as Macquarie's upgrade. Analyst Commentary While the latest research includes more constructive assumptions on Iluka Resources, some bearish analysts are still flagging key risks that could cap upside for the shares.
BHP
AU$55.15
BHP Group
7D
-4.5%
1Y
40.6%
ARU
AU$0.26
Arafura Rare Earths
7D
6.3%
1Y
54.5%
NIC
AU$0.94
Nickel Industries
7D
-7.4%
1Y
24.5%

NIC: Higher Commodity Price Decks Will Support Future Earnings Rerating

Analysts have raised their fair value estimate for Nickel Industries from A$1.11 to A$1.17. This change reflects recent increases in sector price targets and updated commodity price assumptions across Australian base metal producers.
LTR
AU$1.55
Liontown
7D
-14.6%
1Y
136.6%

LTR: Higher P/E And Thinner Margins Will Likely Cap Future Upside

Narrative Update on Liontown The updated analyst price target for Liontown rises from A$0.50 to A$0.82. Analysts point to higher assumed revenue growth of about 46% and a richer future P/E of about 23x.
IPX
AU$7.29
IperionX
7D
8.5%
1Y
109.5%
VUL
AU$3.56
Vulcan Energy Resources
7D
-10.8%
1Y
-7.3%
EQR
AU$0.33
EQ Resources
7D
35.4%
1Y
598.9%
LIN
AU$0.76
Lindian Resources
7D
42.5%
1Y
655.0%