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Australian (ASX) Metals and Mining Industry Analysis

UpdatedNov 05, 2025
DataAggregated Company Financials
Companies677
  • 7D-0.4%
  • 3M17.2%
  • 1Y16.0%
  • YTD25.2%

Over the last 7 days, the Metals and Mining industry has remained flat. As for the the longer term, the industry is up 16% over the past 12 months. 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
Wed, 05 Nov 2025AU$556.9bAU$202.1bAU$19.4b20.3x28.7x2.8x
Fri, 03 Oct 2025AU$554.4bAU$199.8bAU$18.9b22.1x29.4x2.8x
Sun, 31 Aug 2025AU$514.9bAU$201.5bAU$19.4b15.6x26.6x2.6x
Tue, 29 Jul 2025AU$471.3bAU$204.4bAU$21.6b13.1x21.8x2.3x
Thu, 26 Jun 2025AU$429.1bAU$205.0bAU$21.7b12.7x19.8x2.1x
Sat, 24 May 2025AU$445.0bAU$205.7bAU$21.8b12.4x20.4x2.2x
Mon, 21 Apr 2025AU$422.0bAU$207.7bAU$22.2b11.8x19x2x
Wed, 19 Mar 2025AU$438.2bAU$208.0bAU$22.2b11.7x19.8x2.1x
Fri, 14 Feb 2025AU$460.3bAU$215.0bAU$22.7b13.4x20.3x2.1x
Sun, 12 Jan 2025AU$441.5bAU$215.8bAU$21.9b12x20.1x2x
Tue, 10 Dec 2024AU$452.3bAU$208.9bAU$20.9b12.5x21.6x2.2x
Thu, 07 Nov 2024AU$470.6bAU$206.5bAU$20.7b12x22.8x2.3x
Sat, 05 Oct 2024AU$478.4bAU$200.9bAU$19.9b12.1x24.1x2.4x
Mon, 02 Sep 2024AU$440.9bAU$202.6bAU$19.7b13.3x22.4x2.2x
Wed, 31 Jul 2024AU$443.2bAU$210.8bAU$21.1b13.2x21.1x2.1x
Fri, 28 Jun 2024AU$465.6bAU$208.3bAU$20.7b13.3x22.5x2.2x
Sun, 26 May 2024AU$508.1bAU$210.2bAU$21.1b15x24.1x2.4x
Tue, 23 Apr 2024AU$496.2bAU$215.0bAU$21.9b13.5x22.7x2.3x
Thu, 21 Mar 2024AU$480.5bAU$214.2bAU$21.8b11.9x22x2.2x
Sat, 17 Feb 2024AU$498.5bAU$209.0bAU$30.5b11.8x16.3x2.4x
Mon, 15 Jan 2024AU$556.6bAU$221.1bAU$32.4b12.1x17.2x2.5x
Wed, 13 Dec 2023AU$543.6bAU$223.1bAU$32.8b10.4x16.6x2.4x
Fri, 10 Nov 2023AU$524.5bAU$227.3bAU$33.7b10.1x15.6x2.3x
Sun, 08 Oct 2023AU$511.8bAU$227.7bAU$33.9b9.8x15.1x2.2x
Tue, 05 Sep 2023AU$540.7bAU$225.7bAU$34.1b11.7x15.9x2.4x
Thu, 03 Aug 2023AU$547.6bAU$235.6bAU$49.2b9.5x11.1x2.3x
Sat, 01 Jul 2023AU$543.9bAU$234.7bAU$49.0b10x11.1x2.3x
Mon, 29 May 2023AU$521.7bAU$237.0bAU$49.8b9.7x10.5x2.2x
Wed, 26 Apr 2023AU$544.0bAU$234.6bAU$49.2b9.6x11.1x2.3x
Fri, 24 Mar 2023AU$512.5bAU$228.1bAU$47.6b9.3x10.8x2.2x
Sun, 19 Feb 2023AU$562.8bAU$225.5bAU$51.1b11x11x2.5x
Tue, 17 Jan 2023AU$581.6bAU$223.8bAU$51.3b11.9x11.3x2.6x
Thu, 15 Dec 2022AU$545.5bAU$226.2bAU$52.0b11.3x10.5x2.4x
Sat, 12 Nov 2022AU$516.4bAU$232.5bAU$54.0b10.3x9.6x2.2x
Price to Earnings Ratio

9.6x


Total Market Cap: AU$516.4bTotal Earnings: AU$54.0bTotal Revenue: AU$232.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 18.3x202320242025
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 28.7x which is higher than its 3-year average PE of 18.3x.
  • The 3-year average PS ratio of 2.3x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 29% per year over the last three years,
  • Revenues have also declined 4.6% 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-2.08%
Materials-0.68%
Metals and Mining-0.36%
Precious Metals and Minerals5.93%
Gold2.79%
Copper1.06%
Silver0.71%
Steel-0.30%
Diversified Metals and Mining-1.74%
Aluminum-2.63%
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 21.3% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Gold industry, expecting annual earnings growth of 22% over the next 5 years.
  • However this is lower than its past earnings growth rate of 97% per year.
  • In contrast, the Steel industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
NST Northern Star ResourcesAU$23.912.5%
+AU$843.3m		34.9%PE25.5x
MIN Mineral ResourcesAU$46.029.2%
+AU$761.5m		20.5%PS2x
CMM Capricorn MetalsAU$13.007.4%
+AU$388.5m		110.4%PE37.3x
CIA Champion IronAU$5.5314.7%
+AU$378.6m		-6.7%PE22.2x
WGX Westgold ResourcesAU$5.308.2%
+AU$377.8m		69.9%PE144.1x

Latest News

LYC
AU$13.85
Lynas Rare Earths
7D
-12.4%
1Y
76.4%
WGX
AU$5.30
Westgold Resources
7D
8.2%
1Y
69.9%

WGX: Share Buyback And New Exploration Spend Will Drive Shareholder Returns

Analysts have increased their price target for Westgold Resources from $6.51 to $6.83. This change is due to improved profit margin forecasts and a slight acceleration in expected revenue growth.
GGP
AU$7.34
Greatland Resources
7D
7.5%
1Y
n/a
CIA
AU$5.53
Champion Iron
7D
14.7%
1Y
-6.7%
MIN
AU$46.02
Mineral Resources
7D
9.2%
1Y
20.5%
NST
AU$23.91
Northern Star Resources
7D
2.5%
1Y
34.9%

NST: Gold Price Strength And Stake Sale Will Shape Earnings Outlook

Analysts have raised their price target for Northern Star Resources by A$4 to A$22. This reflects increased confidence in the company’s fair value amid forecasts of stronger gold prices and improved financial performance.
BHP
AU$42.54
BHP Group
7D
-1.8%
1Y
-0.2%

BHP: Earnings Outlook Will Balance Inflation Risks And China Demand Uncertainty

BHP Group’s analyst price target was recently lowered by £1.00 to £21.00 per share. Analysts cite softer assumptions for profit margin and revenue growth as factors contributing to their revised outlook.
S32
AU$3.06
South32
7D
-3.2%
1Y
-18.4%

S32: Upcoming Asset Sale And Production Outlook Will Affect Future Returns

Analysts have modestly increased their price target for South32, raising the fair value estimate from $3.26 to $3.30. They cite updated views on discount rates as well as the outlook for growth and profitability.
CMM
AU$13.00
Capricorn Metals
7D
7.4%
1Y
110.4%
RSG
AU$0.88
Resolute Mining
7D
-12.4%
1Y
15.0%
ARU
AU$0.27
Arafura Rare Earths
7D
-29.3%
1Y
82.8%
EVN
AU$10.38
Evolution Mining
7D
1.5%
1Y
102.7%

Rising Gold Prices And Margins Will Increase Confidence Despite Market Uncertainty

Analysts have raised their price target for Evolution Mining from A$8.72 to A$9.93. They cite stronger gold prices, improved revenue growth forecasts, and higher expected profit margins as key drivers behind the update.
RRL
AU$6.30
Regis Resources
7D
5.4%
1Y
139.5%

Upward Momentum In Gold Prices And Cash Flow Will Drive Medium Term Strength

The analyst price target for Regis Resources has increased from A$5.57 to A$6.29. Analysts point to stronger gold prices, improved revenue growth forecasts, and rising profit margins as factors supporting the upward revision.
FMG
AU$20.49
Fortescue
7D
-1.1%
1Y
7.3%

Raising Risks And Downgrade Signals Caution For Margins Ahead

Fortescue's analyst price target has been raised modestly from A$18.14 to A$18.52 as analysts factor in improved profit margins and a slightly lower discount rate following the latest financial updates. Analyst Commentary Recent commentary from market observers highlights a mix of optimism and caution regarding Fortescue's outlook.
BSL
AU$21.82
BlueScope Steel
7D
-2.5%
1Y
6.1%
IPX
AU$6.29
IperionX
7D
-9.2%
1Y
88.3%