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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies688
  • 7D3.3%
  • 3M5.3%
  • 1Y63.0%
  • YTD19.0%

Over the last 7 days, the Metals and Mining industry has risen 3.3%, driven by gains from BHP Group of 3.7%. This means that the industry has gained 63% over the past year. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026AU$752.9bAU$203.0bAU$25.3b12.9x29.8x3.7x
Sat, 02 May 2026AU$681.4bAU$201.9bAU$25.4b12.8x26.9x3.4x
Mon, 30 Mar 2026AU$628.8bAU$207.9bAU$26.4b12.5x23.8x3x
Wed, 25 Feb 2026AU$713.1bAU$199.3bAU$23.3b22.6x30.6x3.6x
Fri, 23 Jan 2026AU$678.3bAU$195.1bAU$18.8b25.8x36.1x3.5x
Sun, 21 Dec 2025AU$605.1bAU$199.3bAU$19.1b23x31.7x3x
Tue, 18 Nov 2025AU$575.4bAU$201.1bAU$19.4b21.4x29.7x2.9x
Thu, 16 Oct 2025AU$588.4bAU$201.5bAU$19.3b22.6x30.5x2.9x
Sat, 13 Sep 2025AU$513.0bAU$199.4bAU$19.2b17.3x26.7x2.6x
Mon, 11 Aug 2025AU$482.9bAU$204.3bAU$21.6b14.5x22.3x2.4x
Wed, 09 Jul 2025AU$448.3bAU$204.1bAU$21.6b13x20.8x2.2x
Fri, 06 Jun 2025AU$451.6bAU$204.7bAU$21.6b12.3x20.9x2.2x
Sun, 04 May 2025AU$429.5bAU$206.1bAU$21.9b12x19.6x2.1x
Tue, 01 Apr 2025AU$423.2bAU$210.3bAU$22.6b11.7x18.7x2x
Thu, 27 Feb 2025AU$439.3bAU$207.3bAU$22.0b12.5x20x2.1x
Sat, 25 Jan 2025AU$446.8bAU$211.8bAU$21.4b12.5x20.9x2.1x
Mon, 23 Dec 2024AU$432.3bAU$213.2bAU$21.6b12.8x20.1x2x
Wed, 20 Nov 2024AU$447.9bAU$207.8bAU$20.8b11.9x21.6x2.2x
Fri, 18 Oct 2024AU$480.8bAU$203.8bAU$20.3b12.8x23.7x2.4x
Sun, 15 Sep 2024AU$431.4bAU$204.1bAU$20.0b14.9x21.6x2.1x
Tue, 13 Aug 2024AU$432.5bAU$209.7bAU$21.2b12.9x20.4x2.1x
Thu, 11 Jul 2024AU$468.7bAU$206.6bAU$20.5b13.7x22.9x2.3x
Sat, 08 Jun 2024AU$497.7bAU$209.4bAU$20.8b14.9x23.9x2.4x
Mon, 06 May 2024AU$490.3bAU$210.7bAU$21.3b14.1x23x2.3x
Wed, 03 Apr 2024AU$498.6bAU$214.8bAU$21.6b13.1x23.1x2.3x
Fri, 01 Mar 2024AU$484.5bAU$213.2bAU$22.1b13.5x21.9x2.3x
Sun, 28 Jan 2024AU$551.6bAU$223.2bAU$32.8b12x16.8x2.5x
Tue, 26 Dec 2023AU$579.7bAU$218.8bAU$31.9b11.7x18.2x2.6x
Thu, 23 Nov 2023AU$546.5bAU$223.6bAU$32.9b10.6x16.6x2.4x
Sat, 21 Oct 2023AU$516.7bAU$229.5bAU$34.3b9.9x15.1x2.3x
Mon, 18 Sep 2023AU$536.9bAU$226.7bAU$34.0b11.5x15.8x2.4x
Wed, 16 Aug 2023AU$531.3bAU$237.7bAU$49.5b10x10.7x2.2x
Fri, 14 Jul 2023AU$554.6bAU$229.1bAU$47.5b10.3x11.7x2.4x
Sun, 11 Jun 2023AU$541.3bAU$231.8bAU$48.3b10.1x11.2x2.3x
Price to Earnings Ratio

11.2x


Total Market Cap: AU$541.3bTotal Earnings: AU$48.3bTotal Revenue: AU$231.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 22x202420252026
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 29.8x which is higher than its 3-year average PE of 22.0x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.7x.
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 4.3% 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 Market0.79%
Materials3.24%
Metals and Mining3.27%
Diversified Metals and Mining4.55%
Copper4.36%
Aluminum2.01%
Steel1.08%
Gold0.61%
Precious Metals and Minerals0.59%
Silver-5.59%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 0.10x.
    • Analysts are expecting annual earnings growth of 27.0%, 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 27% 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?

CompanyLast Price7D1YValuation
BHP BHP GroupAU$62.803.7%
+AU$11.4b		65.4%PE22.2x
NST Northern Star ResourcesAU$20.3912.0%
+AU$3.1b		-3.0%PE18.8x
EVN Evolution MiningAU$12.103.9%
+AU$914.2m		33.4%PE18.5x
BSL BlueScope SteelAU$32.684.1%
+AU$560.5m		36.1%PE49.8x
SGM SimsAU$27.897.7%
+AU$386.5m		77.6%PS0.7x

Latest News

CIA
AU$4.34
Champion Iron
7D
-9.2%
1Y
-2.5%
NST
AU$20.39
Northern Star Resources
7D
12.0%
1Y
-3.0%
PLS
AU$6.14
PLS Group
7D
-2.5%
1Y
354.8%
Narrative Update • Jun 02

PLS: Record High Share Price Will Face Future P/E Headwinds

Analysts have nudged their fair value estimate for PLS Group from A$4.78 to A$5.55, reflecting updated assumptions around discount rates, long term revenue growth, profit margins and a higher future P/E multiple. What's in the News PLS Group shares reached an all time high after a 12 month rally, supported by strong lithium market conditions and higher production capacity.
S32
AU$4.75
South32
7D
1.7%
1Y
57.3%
Narrative Update • Jun 02

S32: Citi Upgrade And Hermosa Progress Will Shape Balanced Future Prospects

Analysts have lifted their South32 price target to A$3.00 from A$2.80, reflecting updated assumptions for slightly higher fair value, discount rate, revenue growth, profit margin and a modestly lower future P/E multiple. Analyst Commentary Recent research has focused on how updated assumptions feed into South32's valuation, with the higher price targets pointing to a reassessment of fair value rather than a change in rating stance in some cases.
SGM
AU$27.89
Sims
7D
7.7%
1Y
77.6%
Narrative Update • Jun 02

SGM: Elevated Lifecycle Services Expectations Will Pressure Future Return Profile

Analysts have lifted their price targets on Sims, with our fair value estimate moving from A$22.78 to A$23.36 as they factor in upgraded ratings, a higher A$20 Street target, and stronger Sims Lifecycle Services EBITDA supported by higher chip prices, resale volumes, and hyperscaler service fees. Analyst Commentary Recent research updates show a shift toward a more balanced view on Sims, with price targets aligning around A$20 and greater focus on the earnings power of Sims Lifecycle Services.
FMG
AU$21.02
Fortescue
7D
-3.5%
1Y
35.7%
New Narrative • Jun 01

Decarbonization Spend And Global Expansion Will Pressure Margins And Earnings Trajectory

Catalysts About Fortescue Fortescue is a global mining group focused on iron ore, with expanding exposure to copper, critical minerals and green energy technologies. What are the underlying business or industry changes driving this perspective?
ELV
AU$11.57
Elevra Lithium
7D
-6.3%
1Y
353.7%
BSL
AU$32.68
BlueScope Steel
7D
4.1%
1Y
36.1%
Narrative Update • Jun 01

BSL: Stable Assumptions And Modest P/E Outlook Will Shape Balanced Prospects

Analysts now place BlueScope Steel's fair value at about A$31.18 per share, up slightly from roughly A$30.96. This reflects updated assumptions around discount rates, steady revenue growth, profit margins and future P/E expectations.
BHP
AU$62.80
BHP Group
7D
3.7%
1Y
65.4%
BRE
AU$5.51
Brazilian Rare Earths
7D
-11.8%
1Y
194.7%
LYC
AU$18.71
Lynas Rare Earths
7D
-1.3%
1Y
102.1%
LTR
AU$2.28
Liontown
7D
-2.1%
1Y
253.5%
PDI
AU$0.79
Predictive Discovery
7D
10.6%
1Y
98.7%
New Narrative • May 30

Permit Risks And Rising Costs Will Challenge Long Term Gold Expansion Potential

Catalysts About Predictive Discovery Predictive Discovery is a West African gold producer with two operating mines and the Bankan development project. What are the underlying business or industry changes driving this perspective?
GGP
AU$13.35
Greatland Resources
7D
4.4%
1Y
n/a
EVN
AU$12.10
Evolution Mining
7D
3.9%
1Y
33.4%
SRL
AU$14.00
Sunrise Energy Metals
7D
-11.7%
1Y
3,011.1%