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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies677
  • 7D2.6%
  • 3M11.3%
  • 1Y46.2%
  • YTD4.5%

Over the last 7 days, the Metals and Mining industry has risen 2.6%, and Lynas Rare Earths contributed the most with a gain of 15%. In the last 12 months, the industry was up 46%. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026AU$653.9bAU$196.9bAU$19.0b24.8x34.4x3.3x
Thu, 11 Dec 2025AU$599.2bAU$198.6bAU$19.0b21.8x31.6x3x
Sat, 08 Nov 2025AU$552.4bAU$201.8bAU$19.5b20x28.3x2.7x
Mon, 06 Oct 2025AU$556.6bAU$199.8bAU$19.0b21.8x29.2x2.8x
Wed, 03 Sep 2025AU$516.9bAU$202.3bAU$19.5b15.7x26.6x2.6x
Fri, 01 Aug 2025AU$455.8bAU$206.1bAU$21.9b13.6x20.8x2.2x
Sun, 29 Jun 2025AU$439.9bAU$204.4bAU$21.6b12.9x20.3x2.2x
Tue, 27 May 2025AU$448.8bAU$204.7bAU$21.6b12.4x20.7x2.2x
Thu, 24 Apr 2025AU$421.8bAU$206.9bAU$22.0b11.9x19.2x2x
Sat, 22 Mar 2025AU$433.8bAU$209.6bAU$22.3b11.4x19.4x2.1x
Mon, 17 Feb 2025AU$461.0bAU$213.0bAU$22.3b13.5x20.7x2.2x
Wed, 15 Jan 2025AU$447.2bAU$214.9bAU$21.8b11.9x20.5x2.1x
Fri, 13 Dec 2024AU$464.5bAU$209.8bAU$21.0b13x22.1x2.2x
Sun, 10 Nov 2024AU$475.1bAU$206.0bAU$20.6b12.1x23.1x2.3x
Tue, 08 Oct 2024AU$483.7bAU$201.9bAU$20.0b12x24.1x2.4x
Thu, 05 Sep 2024AU$412.5bAU$204.0bAU$19.9b12.9x20.7x2x
Sat, 03 Aug 2024AU$444.5bAU$211.7bAU$21.5b13.3x20.7x2.1x
Mon, 01 Jul 2024AU$461.9bAU$208.1bAU$20.7b13.4x22.3x2.2x
Wed, 29 May 2024AU$510.2bAU$209.3bAU$21.0b14.9x24.3x2.4x
Fri, 26 Apr 2024AU$499.5bAU$213.0bAU$21.6b13.7x23.1x2.3x
Sun, 24 Mar 2024AU$481.7bAU$214.3bAU$21.8b12.2x22.1x2.2x
Tue, 20 Feb 2024AU$500.8bAU$208.1bAU$30.3b11.9x16.5x2.4x
Thu, 18 Jan 2024AU$539.9bAU$223.7bAU$32.9b11.7x16.4x2.4x
Sat, 16 Dec 2023AU$567.7bAU$220.4bAU$32.2b11.1x17.6x2.6x
Mon, 13 Nov 2023AU$524.2bAU$228.2bAU$33.8b10.3x15.5x2.3x
Wed, 11 Oct 2023AU$516.8bAU$227.3bAU$33.9b10.3x15.3x2.3x
Fri, 08 Sep 2023AU$521.8bAU$228.0bAU$34.4b12.1x15.2x2.3x
Sun, 06 Aug 2023AU$545.9bAU$236.0bAU$49.4b9.5x11.1x2.3x
Tue, 04 Jul 2023AU$550.8bAU$233.9bAU$48.8b10.1x11.3x2.4x
Thu, 01 Jun 2023AU$517.3bAU$238.2bAU$50.1b9.5x10.3x2.2x
Sat, 29 Apr 2023AU$544.0bAU$235.7bAU$49.5b9.6x11x2.3x
Mon, 27 Mar 2023AU$515.7bAU$229.8bAU$48.1b9.3x10.7x2.2x
Wed, 22 Feb 2023AU$561.4bAU$218.1bAU$46.6b11x12x2.6x
Fri, 20 Jan 2023AU$578.5bAU$225.6bAU$51.9b11.6x11.2x2.6x
Price to Earnings Ratio

11.2x


Total Market Cap: AU$578.5bTotal Earnings: AU$51.9bTotal Revenue: AU$225.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 19.6x202420252026
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 34.4x which is higher than its 3-year average PE of 19.6x.
  • The 3-year average PS ratio of 2.4x 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 28% per year over the last three years,
  • Revenues have also declined 4.4% 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 Market0.73%
Materials2.86%
Metals and Mining2.65%
Steel2.89%
Diversified Metals and Mining2.76%
Gold2.31%
Copper2.30%
Precious Metals and Minerals2.13%
Aluminum1.29%
Silver-1.92%
Industry PE
  • Investors are most optimistic about the Precious Metals and Minerals industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Gold industry, expecting annual earnings growth of 24% over the next 5 years.
  • However this is lower than its past earnings growth rate of 97% per year.
  • In contrast, the Silver industry is expected to see its earnings decline by 35% 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
LYC Lynas Rare EarthsAU$15.0614.5%
+AU$1.9b		108.9%PE1897.1x
BHP BHP GroupAU$47.580.8%
+AU$1.8b		18.5%PE18x
NST Northern Star ResourcesAU$26.354.8%
+AU$1.7b		54.1%PE28.1x
GGP Greatland ResourcesAU$12.6117.0%
+AU$1.2b		n/aPE25.2x
S32 South32AU$3.964.8%
+AU$806.0m		15.8%PE37.4x

Latest News

GGP
AU$12.61
Greatland Resources
7D
17.0%
1Y
n/a
LYC
AU$15.06
Lynas Rare Earths
7D
14.5%
1Y
108.9%
AIS
AU$0.60
Aeris Resources
7D
-9.7%
1Y
266.7%
EVN
AU$13.17
Evolution Mining
7D
2.7%
1Y
148.0%

EVN: Joint Venture Lithium Project Will Support Stronger Future Profitability

Analysts have lifted their price target on Evolution Mining from A$8.90 to A$14.25, citing updated assumptions around revenue growth, profit margins and a slightly higher future P/E multiple as key drivers of the change. What's in the News Surge Battery Metals USA Inc.
VUL
AU$4.67
Vulcan Energy Resources
7D
-4.5%
1Y
-22.2%
CIA
AU$6.41
Champion Iron
7D
-1.8%
1Y
10.1%

CIA: Rising P/E Assumptions Will Heighten Execution Risk At C$7

Analysts have lifted their price target on Champion Iron to C$7 from C$6, reflecting updated views on fair value, discount rates, revenue growth, profit margins, and future P/E assumptions. Analyst Commentary The move to a C$7 price target signals that some research desks still see upside in Champion Iron at current levels, but that does not mean the analyst community is uniformly positive.
NST
AU$26.35
Northern Star Resources
7D
4.8%
1Y
54.1%
FMG
AU$22.57
Fortescue
7D
-1.2%
1Y
22.0%

FMG: Dividend Payout Will Continue To Worsen Emerging Earnings Risk Profile

Analysts have nudged their price target for Fortescue slightly higher to A$19.33 from A$19.18, reflecting small adjustments to assumptions on discount rate, revenue growth, profit margin and future P/E expectations. Valuation Changes Fair Value: updated slightly from A$19.18 to A$19.33 per share.
S32
AU$3.96
South32
7D
4.8%
1Y
15.8%
SYR
AU$0.32
Syrah Resources
7D
-9.9%
1Y
36.2%

SYR: Shares Will Continue Rising As Stable Assumptions Support Future Earnings

Analysts have maintained their fair value estimate for Syrah Resources at A$0.48, with only minor adjustments to assumptions, including a slightly lower discount rate, a marginally different revenue growth outlook, and a largely unchanged future P/E and profit margin profile. Valuation Changes Fair Value: Unchanged at A$0.48 per share, with the updated model still pointing to a fair value of about A$0.48.
BHP
AU$47.58
BHP Group
7D
0.8%
1Y
18.5%

BHP: Commodity Cycles Legal Liabilities And Copper Projects Will Shape Future Performance

Analysts have trimmed their price target on BHP Group to £21.00 from £22.00, reflecting slightly updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E, while maintaining a neutral overall stance. Analyst Commentary Recent research on BHP Group has focused on fine tuning valuation assumptions rather than shifting the overall stance, with the latest move being a trim in the price target while keeping a neutral rating.
MIN
AU$60.50
Mineral Resources
7D
4.7%
1Y
69.1%

MIN: Bald Hill Sale And High Debt Will Pressure Future Returns

Analysts have raised their price target for Mineral Resources from A$15.00 to about A$21.79. They cite updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of this change.
CMM
AU$14.45
Capricorn Metals
7D
-0.8%
1Y
108.8%

Calculating The Fair Value Of Capricorn Metals Ltd (ASX:CMM)

Dec 30
Calculating The Fair Value Of Capricorn Metals Ltd (ASX:CMM)
LKE
AU$0.12
Lake Resources
7D
-23.3%
1Y
180.5%
LTR
AU$2.21
Liontown
7D
13.9%
1Y
309.3%

LTR: Higher Earnings Multiple Will Likely Prove Unsustainable Amid Moderating Outlook

Liontown's analyst price target has been lifted from A0.35 to A0.50 per share, as analysts factor in improved long term profit margins and a higher justified earnings multiple, despite moderating revenue growth expectations and a slightly higher discount rate. Valuation Changes Fair Value: raised from A$0.35 to A$0.50 per share, representing a substantial upward revision.
BGL
AU$1.69
Bellevue Gold
7D
-5.6%
1Y
57.2%