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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies686
  • 7D0.4%
  • 3M4.0%
  • 1Y45.9%
  • YTD7.0%

Over the last 7 days, the Metals and Mining industry has remained flat, although notably Fortescue declined by 3.7%. The past year has been better, since the industry has gained 46% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Jul 2026AU$694.4bAU$207.2bAU$26.0b11.6x26.7x3.4x
Mon, 01 Jun 2026AU$733.3bAU$202.7bAU$25.2b12.4x29.1x3.6x
Wed, 29 Apr 2026AU$689.5bAU$202.8bAU$25.5b12.8x27.1x3.4x
Fri, 27 Mar 2026AU$628.5bAU$207.1bAU$26.3b12.5x23.9x3x
Sun, 22 Feb 2026AU$687.1bAU$197.9bAU$22.9b22.3x30x3.5x
Tue, 20 Jan 2026AU$681.6bAU$197.0bAU$19.1b26.5x35.8x3.5x
Thu, 18 Dec 2025AU$606.7bAU$199.2bAU$19.1b22.7x31.8x3x
Sat, 15 Nov 2025AU$574.9bAU$201.3bAU$19.4b21.1x29.7x2.9x
Mon, 13 Oct 2025AU$562.8bAU$201.7bAU$19.5b21.8x28.9x2.8x
Wed, 10 Sep 2025AU$513.1bAU$200.2bAU$19.2b17x26.7x2.6x
Fri, 08 Aug 2025AU$475.7bAU$204.2bAU$21.6b14.5x22x2.3x
Sun, 06 Jul 2025AU$452.7bAU$203.9bAU$21.5b13.5x21x2.2x
Tue, 03 Jun 2025AU$442.7bAU$205.3bAU$21.7b12.5x20.4x2.2x
Thu, 01 May 2025AU$429.8bAU$207.2bAU$22.1b12.1x19.5x2.1x
Sat, 29 Mar 2025AU$438.0bAU$209.6bAU$22.1b11.8x19.8x2.1x
Mon, 24 Feb 2025AU$458.3bAU$206.1bAU$22.4b12.7x20.5x2.2x
Wed, 22 Jan 2025AU$458.2bAU$214.0bAU$21.7b12.6x21.1x2.1x
Fri, 20 Dec 2024AU$433.4bAU$213.3bAU$21.5b12.8x20.1x2x
Sun, 17 Nov 2024AU$442.3bAU$208.6bAU$20.9b11.6x21.2x2.1x
Tue, 15 Oct 2024AU$473.1bAU$202.5bAU$20.1b12.4x23.5x2.3x
Thu, 12 Sep 2024AU$417.4bAU$204.8bAU$20.0b13.3x20.9x2x
Sat, 10 Aug 2024AU$434.5bAU$210.2bAU$21.3b12.6x20.4x2.1x
Mon, 08 Jul 2024AU$480.2bAU$206.3bAU$20.5b13.7x23.5x2.3x
Wed, 05 Jun 2024AU$497.2bAU$209.9bAU$21.0b14.7x23.7x2.4x
Fri, 03 May 2024AU$489.6bAU$211.7bAU$21.4b13.9x22.8x2.3x
Sun, 31 Mar 2024AU$492.4bAU$214.4bAU$21.6b13.2x22.8x2.3x
Tue, 27 Feb 2024AU$488.1bAU$211.7bAU$22.0b12.1x22.2x2.3x
Thu, 25 Jan 2024AU$544.0bAU$222.9bAU$32.7b11.5x16.6x2.4x
Sat, 23 Dec 2023AU$573.6bAU$218.5bAU$31.9b11.7x18x2.6x
Mon, 20 Nov 2023AU$538.2bAU$224.7bAU$33.1b10.3x16.2x2.4x
Wed, 18 Oct 2023AU$524.7bAU$229.9bAU$34.4b10.5x15.3x2.3x
Fri, 15 Sep 2023AU$522.2bAU$226.4bAU$34.0b11.7x15.3x2.3x
Sun, 13 Aug 2023AU$542.1bAU$237.2bAU$49.4b9.6x11x2.3x
Tue, 11 Jul 2023AU$529.2bAU$234.2bAU$48.9b10.3x10.8x2.3x
Price to Earnings Ratio

10.8x


Total Market Cap: AU$529.2bTotal Earnings: AU$48.9bTotal Revenue: AU$234.2bTotal 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 3.7% 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-0.19%
Materials0.36%
Metals and Mining0.37%
Silver6.65%
Precious Metals and Minerals4.40%
Diversified Metals and Mining1.17%
Copper-0.40%
Gold-0.62%
Steel-2.09%
Aluminum-3.79%
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 28.7%, 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 29% 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$60.502.6%
+AU$7.7b		56.2%PE20.8x
NST Northern Star ResourcesAU$22.167.6%
+AU$2.2b		20.5%PE20.5x
EVN Evolution MiningAU$12.824.8%
+AU$1.2b		64.1%PE19.6x
S32 South32AU$4.166.4%
+AU$1.1b		33.3%PE32.8x
GMD Genesis MineralsAU$6.2916.7%
+AU$1.0b		48.7%PE18x

Latest News

NST
AU$22.16
Northern Star Resources
7D
7.6%
1Y
20.5%
GMD
AU$6.29
Genesis Minerals
7D
16.7%
1Y
48.7%
FMG
AU$18.36
Fortescue
7D
-3.7%
1Y
12.4%
S32
AU$4.16
South32
7D
6.4%
1Y
33.3%
GGP
AU$11.77
Greatland Resources
7D
-2.9%
1Y
70.6%
RMS
AU$3.21
Ramelius Resources
7D
7.0%
1Y
34.9%
Narrative Update • Jul 02

RMS: Expanded Production Pipeline And Cash Position Will Support Future Upside

Ramelius Resources’ analyst price target has been revised to A$5.27 from A$5.60 as analysts factor in updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E expectations. What’s in the News for Ramelius Resources Ramelius Resources has completed the acquisition of Spartan Resources, adding the high grade Never Never gold deposit to its Mt Magnet operations, according to recent reports.
BHP
AU$60.50
BHP Group
7D
2.6%
1Y
56.2%
SMR
AU$2.30
Stanmore Resources
7D
-3.8%
1Y
16.2%
Narrative Update • Jul 01

SMR: Potential Queensland Coal Acquisition Will Support A Bullish Long-Term Outlook

Analysts have trimmed their fair value estimate for Stanmore Resources to A$3.35 from A$3.70, citing updated assumptions for revenue growth, profit margins, a slightly higher discount rate and a lower future P/E multiple. What’s in the News for Stanmore Resources Stanmore Resources is reported to be a leading contender for Anglo American's Queensland coal portfolio, a transaction valued at more than A$5b, with final bids expected in late April or early May.
BSL
AU$31.32
BlueScope Steel
7D
-6.4%
1Y
30.0%
MAH
AU$0.88
Macmahon Holdings
7D
-8.9%
1Y
182.3%
PLS
AU$5.23
PLS Group
7D
3.8%
1Y
245.2%
Narrative Update • Jul 01

PLS: Lithium Expansion And Ore Sorting Investments Will Support Stronger Future Pricing

Analysts have lifted their price target for PLS Group to A$7.70 from A$6.70, citing updated assumptions for fair value, discount rates, revenue growth, profit margins and future P/E multiples that reshape their view of the stock’s potential risk and reward profile. What’s in the News for PLS Group PLS Group reported a 47% revenue increase for the first half of 2026 and returned to profitability, supported by operations at its Pilgangoora hard rock lithium mine, which is described as one of the largest globally.
SGM
AU$25.32
Sims
7D
-10.2%
1Y
57.7%
Narrative Update • Jun 30

SGM: Higher FY26 EBIT Outlook Will Test Recycled Metals Recovery

Analysts have raised their Sims price target from A$25.13 to A$29.13, citing recent research that reflects higher FY26 guidance, a stronger EBIT outlook, and slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News for Sims Sims Limited upgraded its FY2026 underlying EBIT guidance to A$420 million to A$435 million, according to recent coverage of the stock.
LYC
AU$18.22
Lynas Rare Earths
7D
-1.7%
1Y
120.3%
Narrative Update • Jun 23

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

Analysts have made a small adjustment to Lynas Rare Earths' fair value estimate, with the target moving from A$10.03 to about A$10.00. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples.
EVN
AU$12.82
Evolution Mining
7D
4.8%
1Y
64.1%
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.
CMM
AU$14.03
Capricorn Metals
7D
14.5%
1Y
49.4%
MI6
AU$0.76
Minerals 260
7D
-10.6%
1Y
533.3%