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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJun 16, 2026
DataAggregated Company Financials
Companies687
  • 7D4.8%
  • 3M15.0%
  • 1Y62.1%
  • YTD17.5%

In the last week, the Metals and Mining industry is up 4.8%, with BHP Group up 6.4%. In the last 12 months, the industry was up 62%. 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
Tue, 16 Jun 2026AU$743.8bAU$204.8bAU$25.6b12.2x29x3.6x
Thu, 14 May 2026AU$745.9bAU$201.4bAU$25.3b13.5x29.5x3.7x
Sat, 11 Apr 2026AU$689.1bAU$204.5bAU$25.7b13x26.8x3.4x
Mon, 09 Mar 2026AU$682.0bAU$203.7bAU$24.8b18.4x27.5x3.3x
Wed, 04 Feb 2026AU$673.5bAU$191.7bAU$18.3b25.1x36.8x3.5x
Fri, 02 Jan 2026AU$624.9bAU$197.6bAU$19.1b24.2x32.7x3.2x
Sun, 30 Nov 2025AU$581.0bAU$200.4bAU$19.2b22x30.2x2.9x
Tue, 28 Oct 2025AU$574.1bAU$200.8bAU$19.2b22.3x30x2.9x
Thu, 25 Sep 2025AU$530.5bAU$200.3bAU$19.1b18.6x27.8x2.6x
Sat, 23 Aug 2025AU$499.6bAU$204.6bAU$19.1b14.3x26.2x2.4x
Mon, 21 Jul 2025AU$466.7bAU$204.6bAU$21.6b13.6x21.6x2.3x
Wed, 18 Jun 2025AU$446.0bAU$204.1bAU$21.6b12.9x20.7x2.2x
Fri, 16 May 2025AU$441.0bAU$206.9bAU$22.0b11.9x20x2.1x
Sun, 13 Apr 2025AU$406.7bAU$209.5bAU$22.5b11.5x18.1x1.9x
Tue, 11 Mar 2025AU$426.9bAU$208.1bAU$22.3b12.4x19.2x2.1x
Thu, 06 Feb 2025AU$454.5bAU$212.4bAU$21.4b13.2x21.3x2.1x
Sat, 04 Jan 2025AU$439.4bAU$213.9bAU$21.7b12.3x20.3x2.1x
Mon, 02 Dec 2024AU$453.3bAU$207.1bAU$20.7b12x21.9x2.2x
Wed, 30 Oct 2024AU$478.1bAU$206.5bAU$20.7b12.9x23.1x2.3x
Fri, 27 Sep 2024AU$468.5bAU$199.9bAU$19.9b13.4x23.5x2.3x
Sun, 25 Aug 2024AU$438.4bAU$205.4bAU$20.2b13.1x21.7x2.1x
Tue, 23 Jul 2024AU$458.0bAU$208.2bAU$20.7b13.6x22.1x2.2x
Thu, 20 Jun 2024AU$466.0bAU$208.8bAU$20.8b13.3x22.4x2.2x
Sat, 18 May 2024AU$512.4bAU$209.7bAU$21.0b15.2x24.4x2.4x
Mon, 15 Apr 2024AU$508.5bAU$214.1bAU$21.7b13.7x23.4x2.4x
Wed, 13 Mar 2024AU$478.6bAU$211.7bAU$22.0b12.9x21.8x2.3x
Fri, 09 Feb 2024AU$502.7bAU$210.6bAU$31.6b11.8x15.9x2.4x
Sun, 07 Jan 2024AU$567.6bAU$220.4bAU$32.3b12x17.6x2.6x
Tue, 05 Dec 2023AU$543.5bAU$221.8bAU$32.5b11x16.7x2.5x
Thu, 02 Nov 2023AU$521.9bAU$228.9bAU$34.2b10.4x15.3x2.3x
Sat, 30 Sep 2023AU$518.0bAU$226.2bAU$33.8b10.9x15.3x2.3x
Mon, 28 Aug 2023AU$519.8bAU$227.2bAU$37.6b10.6x13.8x2.3x
Wed, 26 Jul 2023AU$553.8bAU$231.3bAU$48.1b9.8x11.5x2.4x
Fri, 23 Jun 2023AU$554.7bAU$231.3bAU$48.1b9.9x11.5x2.4x
Price to Earnings Ratio

11.5x


Total Market Cap: AU$554.7bTotal Earnings: AU$48.1bTotal Revenue: AU$231.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 22.2x202420252026
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 29.0x which is higher than its 3-year average PE of 22.2x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.6x.
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 4.0% 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 Market3.00%
Materials4.77%
Metals and Mining4.76%
Silver9.41%
Copper6.76%
Gold5.43%
Diversified Metals and Mining5.17%
Steel1.63%
Aluminum0.50%
Precious Metals and Minerals-2.70%
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
BHP BHP GroupAU$65.186.4%
+AU$20.0b		74.1%PE22.9x
EVN Evolution MiningAU$12.9310.2%
+AU$2.4b		52.8%PE19.8x
PLS PLS GroupAU$6.489.6%
+AU$1.8b		394.7%PS21.6x
NST Northern Star ResourcesAU$20.794.6%
+AU$1.3b		0.5%PE19.2x
FMG FortescueAU$20.821.4%
+AU$892.8m		32.4%PE12.1x

Latest News

BHP
AU$65.18
BHP Group
7D
6.4%
1Y
74.1%
PLS
AU$6.48
PLS Group
7D
9.6%
1Y
394.7%
MIN
AU$71.43
Mineral Resources
7D
5.7%
1Y
204.6%
LYC
AU$17.88
Lynas Rare Earths
7D
-1.5%
1Y
92.7%
RRL
AU$6.63
Regis Resources
7D
11.1%
1Y
36.1%
Narrative Update • Jun 13

RRL: Index Inclusion And Canaccord Upgrade Will Support Bullish Pricing Outlook

Analysts have adjusted their price target on Regis Resources to A$7.00, reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E. Together, these factors support a slightly refined view of the stock's risk and earnings profile.
SFR
AU$20.87
Sandfire Resources
7D
8.2%
1Y
82.9%
Narrative Update • Jun 13

SFR: Fair Outlook Will Depend On Margins And Index Inclusion

Analysts have raised their price target for Sandfire Resources to A$19.40 from about A$19.05, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margins and future P/E multiples that are currently informing broader Street research views. What's in the News Sandfire Resources Limited (ASX:SFR) has been added to the FTSE All-World Index (USD), reflecting inclusion in a widely tracked global equity index.
NST
AU$20.79
Northern Star Resources
7D
4.6%
1Y
0.5%
BC8
AU$1.05
Black Cat Syndicate
7D
-7.1%
1Y
19.4%
New Narrative • Jun 11

Costly Expansion And Volatile Ore Grades Will Test This Gold Producer’s Long Term Potential

Catalysts About Black Cat Syndicate Black Cat Syndicate is a multi asset gold producer with two operating mines and two development projects in Western Australia. What are the underlying business or industry changes driving this perspective?
EVN
AU$12.93
Evolution Mining
7D
10.2%
1Y
52.8%
Narrative Update • Jun 05

EVN: Copper Exposure And Lithium JV Will Support More Resilient Margins

Narrative Update on Evolution Mining The analyst price target for Evolution Mining has been revised slightly higher to A$13.91, with analysts noting expectations for wider margins supported by copper exposure and updated commodity price assumptions following recent upgrades across several firms. Analyst Commentary Recent research updates on Evolution Mining have focused on valuation, copper exposure and revised commodity price assumptions, with several firms revisiting their ratings and targets following share price moves and changes to their forecasts.
FMG
AU$20.82
Fortescue
7D
1.4%
1Y
32.4%
Narrative Update • Jun 04

FMG: Renewable Push And Legal Compensation Will Pressure Future Returns

Analysts have trimmed their price target for Fortescue from about A$19.56 to around A$18.91, reflecting slightly higher assumed discount rates and modestly softer long term profit margins and P/E expectations in their models. What's in the News Fortescue has started building the 690MW Turner River solar farm in Western Australia's Pilbara region as part of its Pilbara Green Grid renewable energy initiative, source: recent company news.
CRN
AU$0.25
Coronado Global Resources
7D
-16.7%
1Y
66.7%
Narrative Update • Jun 03

CRN: Leadership Change And Stable Fair Value Are Expected To Support Earnings

Analysts have made a minor adjustment to their fair value estimate for Coronado Global Resources, maintaining it at A$0.57, reflecting updated assumptions on discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Coronado Global Resources reported unaudited production results for the quarter ended March 31, 2026, with ROM production of 5.4 Mt and saleable production of 3.0 Mt, compared with 5.8 Mt ROM and 3.5 Mt saleable in the previous quarter.
SMR
AU$2.68
Stanmore Resources
7D
-6.9%
1Y
39.6%
Narrative Update • Jun 02

SMR: Anglo Coal Bid And Funding Plans Will Shape Future Upside

Analysts have trimmed their price target on Stanmore Resources to A$2.80 from A$2.80, reflecting slightly lower assumed revenue growth and discount rate, along with a small uplift in expected profit margins and a modestly lower future P/E multiple. What's in the News Stanmore Resources is reported to be a leading bidder for Anglo American's Queensland coal portfolio, valued at more than A$5b, in a sale process that could conclude within two to three weeks.
S32
AU$4.47
South32
7D
-3.5%
1Y
49.0%
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.
TOK
AU$1.26
Tolu Minerals
7D
-23.6%
1Y
51.8%
DTR
AU$0.13
Dateline Resources
7D
-16.1%
1Y
30.0%
ZIM
AU$15.00
Zimplats Holdings
7D
-4.2%
1Y
-1.6%