Australian (ASX) Metals and Mining Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 26 Jun 2026	AU$674.7b	AU$208.1b	AU$26.2b	11.1x	25.8x	3.2x
Sun, 24 May 2026	AU$709.2b	AU$203.6b	AU$25.4b	12.6x	27.9x	3.5x
Tue, 21 Apr 2026	AU$707.1b	AU$203.0b	AU$25.5b	13.4x	27.7x	3.5x
Thu, 19 Mar 2026	AU$642.1b	AU$203.8b	AU$26.0b	13.9x	24.7x	3.2x
Sat, 14 Feb 2026	AU$678.5b	AU$192.3b	AU$19.0b	24.2x	35.7x	3.5x
Mon, 12 Jan 2026	AU$653.3b	AU$197.2b	AU$19.1b	24.5x	34.2x	3.3x
Wed, 10 Dec 2025	AU$589.7b	AU$198.7b	AU$19.0b	21.1x	31x	3x
Fri, 07 Nov 2025	AU$556.8b	AU$201.4b	AU$19.4b	20.5x	28.7x	2.8x
Sun, 05 Oct 2025	AU$556.6b	AU$199.9b	AU$19.0b	21.8x	29.2x	2.8x
Tue, 02 Sep 2025	AU$517.2b	AU$201.3b	AU$19.3b	15.8x	26.7x	2.6x
Thu, 31 Jul 2025	AU$469.3b	AU$205.0b	AU$21.6b	12.4x	21.7x	2.3x
Sat, 28 Jun 2025	AU$439.9b	AU$204.2b	AU$21.6b	12.9x	20.4x	2.2x
Mon, 26 May 2025	AU$445.2b	AU$205.0b	AU$21.7b	12.4x	20.5x	2.2x
Wed, 23 Apr 2025	AU$423.9b	AU$207.1b	AU$22.1b	12.1x	19.2x	2x
Fri, 21 Mar 2025	AU$434.1b	AU$209.7b	AU$22.4b	11.6x	19.4x	2.1x
Sun, 16 Feb 2025	AU$460.9b	AU$213.1b	AU$22.3b	13.5x	20.7x	2.2x
Tue, 14 Jan 2025	AU$441.0b	AU$215.8b	AU$21.9b	12x	20.1x	2x
Thu, 12 Dec 2024	AU$465.9b	AU$211.0b	AU$21.2b	12.7x	22x	2.2x
Sat, 09 Nov 2024	AU$475.1b	AU$204.9b	AU$20.4b	12.1x	23.2x	2.3x
Mon, 07 Oct 2024	AU$478.4b	AU$201.6b	AU$20.0b	11.9x	23.9x	2.4x
Wed, 04 Sep 2024	AU$427.9b	AU$203.6b	AU$19.8b	13.3x	21.6x	2.1x
Fri, 02 Aug 2024	AU$451.3b	AU$211.3b	AU$21.5b	13.6x	21x	2.1x
Sun, 30 Jun 2024	AU$461.9b	AU$208.1b	AU$20.7b	13.4x	22.3x	2.2x
Tue, 28 May 2024	AU$510.2b	AU$209.8b	AU$21.0b	14.9x	24.3x	2.4x
Thu, 25 Apr 2024	AU$499.4b	AU$213.1b	AU$21.6b	13.7x	23.1x	2.3x
Sat, 23 Mar 2024	AU$481.7b	AU$214.3b	AU$21.8b	12.1x	22.1x	2.2x
Mon, 19 Feb 2024	AU$498.5b	AU$208.9b	AU$30.5b	11.8x	16.3x	2.4x
Wed, 17 Jan 2024	AU$543.3b	AU$222.7b	AU$32.7b	11.9x	16.6x	2.4x
Fri, 15 Dec 2023	AU$545.0b	AU$220.4b	AU$32.3b	10.9x	16.9x	2.5x
Sun, 12 Nov 2023	AU$524.2b	AU$228.2b	AU$33.8b	10.3x	15.5x	2.3x
Tue, 10 Oct 2023	AU$512.4b	AU$228.4b	AU$34.1b	9.8x	15x	2.2x
Thu, 07 Sep 2023	AU$538.4b	AU$227.7b	AU$34.3b	12x	15.7x	2.4x
Sat, 05 Aug 2023	AU$545.9b	AU$236.5b	AU$49.5b	9.5x	11x	2.3x
Mon, 03 Jul 2023	AU$544.4b	AU$233.7b	AU$48.8b	10x	11.2x	2.3x

Current Industry PE

Investors are optimistic on the Australian Metals and Mining industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 25.8x which is higher than its 3-year average PE of 22.3x.

The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.2x.

Past Earnings Growth

The earnings for companies in the Metals and Mining industry have declined 19% per year over the last three years,
Revenues have also declined 3.8% per year.
This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Australian Materials industry?


AU Market	-1.83%
Materials	-8.42%
Metals and Mining	-9.00%
Aluminum	-0.64%
Steel	-4.42%
Silver	-8.90%
Diversified Metals and Mining	-9.12%
Copper	-10.96%
Gold	-11.19%
Precious Metals and Minerals	-12.58%

Industry PE

Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio.

Analysts are expecting annual earnings growth of 28.4%, which is lower than the prior year's growth of 111.4% per year.

Forecasted Growth

Analysts are most optimistic on the Copper industry, expecting annual earnings growth of 28% over the next 5 years.
However this is lower than its past earnings growth rate of 111% per year.

In contrast, the Silver industry is expected to see its earnings decline by 5.9% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
LYC Lynas Rare Earths	AU$18.54	2.0% +AU$362.3m	108.8%	PE226.6x
LIN Lindian Resources	AU$0.92	11.5% +AU$173.8m	848.5%	PB11.3x
BCI BCI Minerals	AU$0.41	15.7% +AU$161.6m	15.7%	PS311.3x
BSL BlueScope Steel	AU$33.46	0.7% +AU$96.3m	45.0%	PE51x
DRR Deterra Royalties	AU$4.58	3.4% +AU$79.4m	21.2%	PE13.6x

Victory Metals Limited Receives AUD 350,000 Funding From Resources Technology And Critical Minerals Trailblazer

Victory Metals Limited had been awarded AUD 350,000 in cash funding from the Resources Technology and Critical Minerals (RTCM) Trailblazer to support the Company’s rare earth processing research and development program over the next two years. The RTCM Trailblazer is led by Curtin University, in partnership with The University of Queensland and James Cook University and is supported by the Australian Government’s Department of Education Trailblazer Universities Program. Over the two-year term, the funding will embed dedicated full-time researchers at Curtin University working alongside Victory’s technical team to further develop and optimise the Company’s rare earth processing flowsheet and the metallurgical work that underpins its 100% owned North Stanmore Heavy Rare Earth Project near Cue in Western Australia. The program is focused on strengthening the recovery and separation of the high value heavy rare earth elements, including dysprosium, terbium and yttrium, that distinguish North Stanmore as one of Australia’s largest heavy rare earth-enriched regolith deposits. Importantly, while the program runs over two years, it is fully integrated with Victory’s broader development pathway and is designed to facilitate, not delay the Company’s move into commercial production. Victory has secured AUD 350,000 in cash funding from the Resources Technology and Critical Minerals (RTCM) Trailblazer, the Federal Government backed program led by Curtin University, to support the Company’s rare earth processing research and development over the next two years. The funding is non-dilutive and leverages Victory’s existing commitments to Curtin University and to its recently commissioned rare earths pilot plant in Burswood, Perth. The grant will fund dedicated full-time research staff at Curtin working alongside Victory to advance and help commercialise its heavy rare earth processing technology. It follows the recent commissioning of Victory’s North Stanmore rare earths pilot plant in Perth, officially opened by the Honourable Madeleine King MP, Federal Minister for Resources. The award deepens Victory’s partnership with Curtin and the Federal Government as Australia builds a secure, Western-aligned rare earths supply chain. The Resources Technology and Critical Minerals (RTCM) Trailblazer is led by Curtin University in partnership with The University of Queensland and James Cook University, together with more than 50 industry partners across Australia. It is supported by the Australian Government’s Trailblazer Universities Program, administered by the Department of Education, and is one of six university-led Trailblazers established under that program. The RTCM Trailblazer is designed to transform the way industry, universities and researchers work together, building new research capabilities and driving the commercialisation of university research across the resources technology and critical minerals sector. By co-funding industry-led projects alongside its university and industry partners, it accelerates technology readiness, de-risks the pathway from research to commercial outcomes, and helps build sovereign capability in the critical minerals essential to Australia’s economic and strategic future.

Australian (ASX) Metals and Mining Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Victory Metals Limited Receives AUD 350,000 Funding From Resources Technology And Critical Minerals Trailblazer

PLS Group Expands Lithium Supply Chain With Latin Resources Acquisition and POSCO Investment

Hermosa Project Moves Toward Key US Permits as South32 Targets 2027 Production

Bald Hill Lithium Mine Restarts as Onslow Iron Hits Full Capacity and Succession Plans Unfold

FMG: Green Shipping Plans And Native Title Ruling Will Shape Future Returns

LYC: Long Dated Supply Contracts And Operational Issues Will Cap Rare Earth Upside

Kangankunde Targets Q4 2026 Output as Lindian Resources Ends Sales Pact

PRN: Contract Wins And Higher Margins Will Shape Fairly Balanced Outlook

EVN: Copper Support Will Likely Fail To Offset Execution And Cost Risks

BHP: Copper Strength And Jansen Risks Will Shape Fairly Valued Outlook

Elliott Management Presses Northern Star Resources for Review and Board Refresh After CEO Exit

Price target increased by 28% to AU$0.63

Investor sentiment improves as stock rises 23%

Astron Limited Announces Appointment of Marcelo Bastos as Independent Non-Executive Director, Effective from July 1, 2026

New minor risk - Share price stability

New major risk - Shareholder dilution