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Australian (ASX) Diversified Metals and Mining Industry Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies461
  • 7D-0.3%
  • 3M14.7%
  • 1Y39.2%
  • YTDn/a

Last week, the Diversified Metals and Mining industry hasn't moved much but Lynas Rare Earths is up 8.9% in that time. The past year has been better, since the industry has gained 39% in that time. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 24 Jan 2026AU$388.1bAU$107.3bAU$9.2b21.1x42.3x3.6x
Mon, 22 Dec 2025AU$338.7bAU$110.4bAU$9.3b19.9x36.2x3.1x
Wed, 19 Nov 2025AU$317.4bAU$111.9bAU$9.6b16.7x33.2x2.8x
Fri, 17 Oct 2025AU$339.8bAU$111.8bAU$9.6b19.4x35.5x3x
Sun, 14 Sep 2025AU$293.1bAU$109.8bAU$9.1b14.1x32.2x2.7x
Tue, 12 Aug 2025AU$296.2bAU$116.9bAU$11.8b13.3x25.1x2.5x
Thu, 10 Jul 2025AU$264.0bAU$116.9bAU$11.8b13.2x22.3x2.3x
Sat, 07 Jun 2025AU$264.0bAU$117.3bAU$11.9b12.1x22.3x2.3x
Mon, 05 May 2025AU$257.3bAU$118.0bAU$12.0b11.8x21.4x2.2x
Wed, 02 Apr 2025AU$262.2bAU$121.1bAU$12.5b11.7x20.9x2.2x
Fri, 28 Feb 2025AU$279.1bAU$120.4bAU$12.2b11.5x22.9x2.3x
Sun, 26 Jan 2025AU$279.4bAU$122.7bAU$9.0b12.8x31.2x2.3x
Tue, 24 Dec 2024AU$277.7bAU$123.8bAU$9.1b13.2x30.5x2.2x
Thu, 21 Nov 2024AU$286.2bAU$119.8bAU$8.6b12.2x33.2x2.4x
Sat, 19 Oct 2024AU$300.5bAU$116.7bAU$8.3b13.2x36.2x2.6x
Mon, 16 Sep 2024AU$279.0bAU$117.1bAU$8.5b14.7x32.9x2.4x
Wed, 14 Aug 2024AU$283.1bAU$121.8bAU$9.2b16.2x30.7x2.3x
Fri, 12 Jul 2024AU$307.7bAU$119.4bAU$9.0b16.7x34.1x2.6x
Sun, 09 Jun 2024AU$320.9bAU$122.0bAU$9.3b16.2x34.6x2.6x
Tue, 07 May 2024AU$316.5bAU$121.2bAU$9.2b15.2x34.3x2.6x
Thu, 04 Apr 2024AU$319.9bAU$124.7bAU$9.3b13.9x34.3x2.6x
Sat, 02 Mar 2024AU$325.1bAU$123.8bAU$9.8b16.7x33x2.6x
Mon, 29 Jan 2024AU$339.4bAU$128.2bAU$21.0b10x16.1x2.6x
Wed, 27 Dec 2023AU$366.4bAU$125.0bAU$20.4b10x17.9x2.9x
Fri, 24 Nov 2023AU$343.8bAU$128.4bAU$21.1b9.8x16.3x2.7x
Sun, 22 Oct 2023AU$333.2bAU$132.5bAU$21.9b9.7x15.2x2.5x
Tue, 19 Sep 2023AU$352.2bAU$130.3bAU$21.7b8.2x16.3x2.7x
Thu, 17 Aug 2023AU$342.0bAU$141.1bAU$35.3b8.4x9.7x2.4x
Sat, 15 Jul 2023AU$368.0bAU$133.8bAU$33.2b9x11.1x2.8x
Mon, 12 Jun 2023AU$359.0bAU$135.9bAU$33.9b8.4x10.6x2.6x
Wed, 10 May 2023AU$358.0bAU$135.5bAU$33.6b8.4x10.6x2.6x
Fri, 07 Apr 2023AU$352.7bAU$136.6bAU$34.0b8.4x10.4x2.6x
Sun, 05 Mar 2023AU$383.1bAU$134.9bAU$34.2b9.7x11.2x2.8x
Tue, 31 Jan 2023AU$400.0bAU$132.2bAU$34.1b11.9x11.7x3x
Price to Earnings Ratio

11.7x


Total Market Cap: AU$400.0bTotal Earnings: AU$34.1bTotal Revenue: AU$132.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Diversified Metals and Mining Industry Price to Earnings3Y Average 24.5x202420252026
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 42.3x which is higher than its 3-year average PE of 24.5x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Diversified Metals and Mining industry have declined 35% per year over the last three years,
  • Revenues have also declined 6.6% 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-0.11%
Materials-0.074%
Metals and Mining-0.13%
Diversified Metals and Mining-0.34%
Silver5.74%
Gold2.54%
Copper0.14%
Precious Metals and Minerals-0.32%
Aluminum-1.00%
Steel-4.03%
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$16.868.9%
+AU$1.4b		158.6%PE2123.9x
PLS PLS GroupAU$5.088.5%
+AU$1.3b		119.9%PS21.3x
S32 South32AU$4.395.5%
+AU$1.0b		24.0%PE42.4x
MIN Mineral ResourcesAU$62.304.2%
+AU$495.8m		75.9%PS2.7x
IPX IperionXAU$8.3716.7%
+AU$402.8m		112.4%PB20.8x

Latest News

S32
AU$4.39
South32
7D
5.5%
1Y
24.0%

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).
BHP
AU$48.43
BHP Group
7D
-1.1%
1Y
23.2%

BHP: Commodity Cycles Legal Risks And Copper Exposure Will Shape Future Performance

Analysts have lifted their fair value estimate for BHP Group from $44.58 to $49.00, citing updated assumptions for revenue growth, profit margins and future P/E that align with the recent price target increase of 100 GBp reported in Street research. Analyst Commentary Recent Street research on BHP Group has focused on aligning price targets and fair value estimates with updated assumptions for revenue, margins and future P/E multiples, with JPMorgan lifting its price target by 100 GBp. Bullish Takeaways Bullish analysts see the higher price target and fair value estimate as consistent with updated revenue and margin assumptions, which they view as better reflecting BHP Group's current earnings power.
LYC
AU$16.86
Lynas Rare Earths
7D
8.9%
1Y
158.6%

LYC: Full Operations And Offtake Ramp Will Test Stretch Rare Earth Expectations

Analysts have nudged their Lynas Rare Earths price targets higher into the mid A$16 to high A$17 range, pointing to fresh Buy ratings, an Outperform initiation, and a slightly adjusted discount rate alongside updated assumptions for revenue growth, margins, and future P/E as full operations and new offtake agreements come through. Analyst Commentary Recent research on Lynas Rare Earths has leaned positive, with several firms either initiating or upgrading ratings while setting price targets in the mid A$16 to high A$17 range.
ASM
AU$1.82
Australian Strategic Materials
7D
154.5%
1Y
271.4%
PRN
AU$2.89
Perenti
7D
-4.0%
1Y
115.7%

PRN: Slight Model Adjustments Will Support A Measured Fair Value Outlook

Analysts have reduced their price target on Perenti, citing a slightly higher discount rate and revised revenue growth assumptions, along with a marginally lower future P/E. Together, these factors contribute to a more conservative valuation framework, while their fair value estimate remains at A$3.10.
MIN
AU$62.30
Mineral Resources
7D
4.2%
1Y
75.9%

MIN: Bald Hill Sale And Iron Ore Strength Will Support Future Upside

Analysts have kept their fair value estimate for Mineral Resources steady at A$68.00. Updated assumptions point to higher revenue growth, a slightly lower profit margin, a marginally reduced discount rate and a modestly lower future P/E multiple as the key drivers behind the unchanged price target.
PLS
AU$5.08
PLS Group
7D
8.5%
1Y
119.9%

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.
IMD
AU$3.77
Imdex
7D
-2.3%
1Y
50.8%

IMD: Future Returns Will Reflect Steady Profitability And Balanced Market Expectations

Analysts have nudged their price target on Imdex slightly higher to A$3.63, with only small adjustments to inputs like the discount rate, expected revenue growth, profit margin, and future P/E helping to support the new figure. Valuation Changes Fair Value Estimate held steady at A$3.63 per share based on the updated inputs.
29M
AU$0.43
29Metals
7D
-28.1%
1Y
97.7%

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$9.31
IGO
7D
4.8%
1Y
77.3%
MAH
AU$0.69
Macmahon Holdings
7D
-3.5%
1Y
119.0%

MAH: Higher Discount Rate And Richer P/E Will Restrain Future Upside

Narrative Update on Macmahon Holdings The analyst price target for Macmahon Holdings has shifted from A$0.49 to A$0.65. Analysts point to updated assumptions for discount rate, revenue growth, profit margin and future P/E as the key drivers behind the change.
BMC
AU$3.19
BMC Minerals
7D
-3.3%
1Y
n/a
KGL
AU$0.25
KGL Resources
7D
-13.8%
1Y
194.1%
EQR
AU$0.15
EQ Resources
7D
47.6%
1Y
369.7%
WA1
AU$17.41
WA1 Resources
7D
-4.7%
1Y
27.8%
IPX
AU$8.37
IperionX
7D
16.7%
1Y
112.4%