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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJun 29, 2026
DataAggregated Company Financials
Companies686
  • 7D-4.9%
  • 3M6.3%
  • 1Y51.6%
  • YTD7.2%

Over the last 7 days, the Metals and Mining industry has dropped 4.9%, driven by a pullback from BHP Group of 0.9%. On the other hand Lindian Resources is actually up 8.0%. Over the past 12 months, the industry was up 52%. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Jun 2026AU$678.3bAU$208.0bAU$26.2b11.3x25.9x3.3x
Wed, 27 May 2026AU$722.9bAU$203.0bAU$25.3b13x28.6x3.6x
Fri, 24 Apr 2026AU$699.1bAU$203.3bAU$25.6b13.9x27.3x3.4x
Sun, 22 Mar 2026AU$602.5bAU$205.2bAU$26.0b12.6x23.2x2.9x
Tue, 17 Feb 2026AU$673.7bAU$191.8bAU$18.9b24.3x35.6x3.5x
Thu, 15 Jan 2026AU$672.2bAU$197.4bAU$19.1b25.1x35.2x3.4x
Sat, 13 Dec 2025AU$614.5bAU$198.2bAU$18.9b22.3x32.5x3.1x
Mon, 10 Nov 2025AU$552.5bAU$201.6bAU$19.5b20x28.4x2.7x
Wed, 08 Oct 2025AU$564.9bAU$199.9bAU$19.1b22.6x29.6x2.8x
Fri, 05 Sep 2025AU$512.8bAU$202.0bAU$19.4b15.9x26.4x2.5x
Sun, 03 Aug 2025AU$456.0bAU$205.7bAU$21.8b13.4x20.9x2.2x
Tue, 01 Jul 2025AU$435.2bAU$204.3bAU$21.6b12.5x20.2x2.1x
Thu, 29 May 2025AU$445.8bAU$206.0bAU$21.8b12.5x20.4x2.2x
Sat, 26 Apr 2025AU$427.0bAU$207.2bAU$22.1b12.1x19.4x2.1x
Mon, 24 Mar 2025AU$433.9bAU$210.0bAU$22.2b11.4x19.6x2.1x
Wed, 19 Feb 2025AU$460.2bAU$210.0bAU$27.8b13.6x16.6x2.2x
Fri, 17 Jan 2025AU$447.5bAU$214.5bAU$21.7b12.3x20.6x2.1x
Sun, 15 Dec 2024AU$455.3bAU$210.8bAU$21.2b12.5x21.5x2.2x
Tue, 12 Nov 2024AU$458.8bAU$205.9bAU$20.6b11.7x22.3x2.2x
Thu, 10 Oct 2024AU$466.4bAU$202.9bAU$20.2b11.9x23.1x2.3x
Sat, 07 Sep 2024AU$410.3bAU$203.6bAU$19.9b13.2x20.7x2x
Mon, 05 Aug 2024AU$445.9bAU$211.5bAU$21.5b13.3x20.8x2.1x
Wed, 03 Jul 2024AU$465.4bAU$208.5bAU$20.7b13.2x22.4x2.2x
Fri, 31 May 2024AU$496.2bAU$209.9bAU$21.0b14.4x23.6x2.4x
Sun, 28 Apr 2024AU$492.3bAU$212.4bAU$21.5b13.6x22.9x2.3x
Tue, 26 Mar 2024AU$481.7bAU$214.1bAU$21.7b12.7x22.2x2.3x
Thu, 22 Feb 2024AU$486.9bAU$210.6bAU$22.2b11.1x21.9x2.3x
Sat, 20 Jan 2024AU$536.1bAU$222.8bAU$32.7b11.7x16.4x2.4x
Mon, 18 Dec 2023AU$567.9bAU$220.7bAU$32.3b11.1x17.6x2.6x
Wed, 15 Nov 2023AU$529.4bAU$227.9bAU$33.8b10.3x15.7x2.3x
Fri, 13 Oct 2023AU$525.0bAU$227.3bAU$33.9b10.4x15.5x2.3x
Sun, 10 Sep 2023AU$516.7bAU$228.2bAU$34.3b11.2x15x2.3x
Tue, 08 Aug 2023AU$544.0bAU$236.2bAU$49.4b9.5x11x2.3x
Thu, 06 Jul 2023AU$552.2bAU$233.7bAU$48.8b10.1x11.3x2.4x
Price to Earnings Ratio

11.3x


Total Market Cap: AU$552.2bTotal Earnings: AU$48.8bTotal Revenue: AU$233.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 22.4x202420252026
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 25.9x which is higher than its 3-year average PE of 22.4x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.3x.
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-0.91%
Materials-4.38%
Metals and Mining-4.91%
Aluminum-2.21%
Steel-2.61%
Diversified Metals and Mining-4.92%
Gold-5.91%
Precious Metals and Minerals-7.66%
Copper-8.87%
Silver-9.90%
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?

CompanyLast Price7D1YValuation
LIN Lindian ResourcesAU$0.958.0%
+AU$128.1m		879.4%PB11.6x
SLS Solstice MineralsAU$2.2935.5%
+AU$103.3m		825.3%PB21.2x
BCI BCI MineralsAU$0.396.8%
+AU$73.4m		14.7%PS299.8x
DRR Deterra RoyaltiesAU$4.652.6%
+AU$63.5m		23.7%PE13.8x
BMC BMC MineralsAU$2.965.7%
+AU$43.9m		n/aPB41.9x

Latest News

BHP
AU$59.82
BHP Group
7D
-0.9%
1Y
62.8%
SFR
AU$19.01
Sandfire Resources
7D
-8.2%
1Y
69.4%
Narrative Update • Jun 27

SFR: Rising Copper Prices May Not Justify Rich Earnings Multiple

Analysts have lifted their price target on Sandfire Resources from A$11.45 to about A$15.09, citing updated assumptions for revenue growth, profit margins, and a lower expected future P/E multiple as key drivers of the new valuation view. What’s in the News for Sandfire Resources Sandfire Resources is focusing on its dual hub production model at the MATSA complex in Spain and the Motheo project in Botswana, aiming to align output with elevated copper prices and demand linked to clean energy and data center projects, according to recent reports.
MIN
AU$62.15
Mineral Resources
7D
-6.7%
1Y
188.3%
Narrative Update • Jun 26

MIN: Higher Fair Value Will Rely On Execution At Onslow Iron

Analysts have raised their price target on Mineral Resources from A$75.00 to A$87.00, citing updated assumptions related to discount rates, revenue growth, profit margins and future P/E expectations. What’s in the News for Mineral Resources Mineral Resources has resumed operations at the Bald Hill lithium mine, supported by a record half-year across its lithium and iron ore businesses.
BCI
AU$0.39
BCI Minerals
7D
6.8%
1Y
14.7%
Narrative Update • Jun 26

BCI: Higher Revenue Outlook Will Support A Stronger Future Earnings Multiple

Analysts have lifted their fair value estimate for BCI Minerals from A$0.50 to A$0.63 per share, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E. What’s in the News for BCI Minerals No recent company specific news items for BCI Minerals were provided in the supplied sources.
ARR
AU$0.38
American Rare Earths
7D
13.4%
1Y
55.1%
PDI
AU$0.71
Predictive Discovery
7D
-26.8%
1Y
84.4%
PLS
AU$5.08
PLS Group
7D
-8.1%
1Y
280.5%
LIN
AU$0.95
Lindian Resources
7D
8.0%
1Y
879.4%
EVN
AU$12.39
Evolution Mining
7D
-4.4%
1Y
59.1%
Narrative Update • Jun 23

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

Analysts have trimmed their fair value estimate for Evolution Mining to A$7.06 from A$7.41, citing revised assumptions around discount rates, revenue growth, margins and future P/E. They also point to recent rating upgrades that highlight the support from copper exposure during periods of gold price volatility.
NST
AU$20.12
Northern Star Resources
7D
-5.1%
1Y
8.5%
GGP
AU$12.02
Greatland Resources
7D
-12.1%
1Y
69.1%
MMI
AU$1.79
Metro Mining
7D
6.5%
1Y
37.7%
Narrative Update • Jun 16

MMI: Stock Split And 2026 Shipment Guidance Will Support Future Upside

Analysts have kept their A$ price target for Metro Mining steady, making only minor model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. As a result, the headline valuation story remains effectively unchanged for you.
VSL
AU$5.25
Vulcan Steel
7D
4.4%
1Y
-9.8%
New Narrative • Jun 15

Late Cycle Roofing Expansion And Hybrid Sites Will Reshape This Australasian Metals Supplier

Catalysts About Vulcan Steel Vulcan Steel supplies steel and metal products across Australia and New Zealand through an integrated network of processing, distribution and roofing businesses. What are the underlying business or industry changes driving this perspective?
DRR
AU$4.65
Deterra Royalties
7D
2.6%
1Y
23.7%
Narrative Update • Jun 05

DRR: Royalty Cash Flows And Lithium Optionality Will Support A Balanced Outlook

Analysts have increased their A$ fair value estimate for Deterra Royalties from A$4.56 to A$4.65, citing a refreshed view on discount rates, revenue trends, profit margins, and future P/E assumptions following recent Street research. What's in the News J.P. Morgan maintained its Buy rating on Deterra Royalties with a price target of A$5.20, while Morgans also kept a Buy rating with a price target of A$5.10, following recent research coverage.
SLS
AU$2.29
Solstice Minerals
7D
35.5%
1Y
825.3%
BMC
AU$2.96
BMC Minerals
7D
5.7%
1Y
n/a