Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Metals and Mining Industry Analysis

UpdatedJun 21, 2026
DataAggregated Company Financials
Companies686
  • 7D0.05%
  • 3M17.6%
  • 1Y60.9%
  • YTD12.8%

Last week, the Metals and Mining industry hasn't moved much but Northern Star Resources is up 8.4% in that time. As for the the longer term, the industry is up 61% over the past 12 months. 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
Sun, 21 Jun 2026AU$713.6bAU$205.9bAU$25.8b11.9x27.6x3.5x
Tue, 19 May 2026AU$701.9bAU$203.2bAU$25.3b13x27.7x3.5x
Thu, 16 Apr 2026AU$705.1bAU$203.3bAU$25.6b13.3x27.6x3.5x
Sat, 14 Mar 2026AU$652.6bAU$203.6bAU$24.6b16.4x26.5x3.2x
Mon, 09 Feb 2026AU$649.4bAU$191.4bAU$18.3b22.8x35.5x3.4x
Wed, 07 Jan 2026AU$649.8bAU$196.7bAU$19.0b24x34.2x3.3x
Fri, 05 Dec 2025AU$591.6bAU$199.2bAU$19.1b21.9x31x3x
Sun, 02 Nov 2025AU$573.1bAU$201.2bAU$19.2b21.1x29.8x2.8x
Tue, 30 Sep 2025AU$542.1bAU$200.7bAU$19.1b19x28.3x2.7x
Thu, 28 Aug 2025AU$515.8bAU$202.4bAU$18.3b14.3x28.2x2.5x
Sat, 26 Jul 2025AU$477.7bAU$203.4bAU$21.4b13.5x22.3x2.3x
Mon, 23 Jun 2025AU$430.2bAU$206.0bAU$21.9b13.2x19.7x2.1x
Wed, 21 May 2025AU$439.3bAU$206.7bAU$22.0b12.2x20x2.1x
Fri, 18 Apr 2025AU$422.0bAU$208.1bAU$22.2b11.8x19x2x
Sun, 16 Mar 2025AU$426.7bAU$208.9bAU$22.5b11.3x18.9x2x
Tue, 11 Feb 2025AU$457.9bAU$212.6bAU$21.4b13.3x21.4x2.2x
Thu, 09 Jan 2025AU$436.9bAU$214.5bAU$21.7b12.2x20.1x2x
Sat, 07 Dec 2024AU$454.8bAU$209.5bAU$21.0b12.5x21.7x2.2x
Mon, 04 Nov 2024AU$476.1bAU$206.6bAU$20.7b12.4x23x2.3x
Wed, 02 Oct 2024AU$481.8bAU$199.9bAU$19.9b12.7x24.2x2.4x
Fri, 30 Aug 2024AU$437.8bAU$201.9bAU$19.6b15x22.3x2.2x
Sun, 28 Jul 2024AU$450.2bAU$210.6bAU$21.3b13.3x21.1x2.1x
Tue, 25 Jun 2024AU$459.8bAU$208.4bAU$20.8b13.1x22.2x2.2x
Thu, 23 May 2024AU$523.4bAU$209.4bAU$21.0b14.9x25x2.5x
Sat, 20 Apr 2024AU$502.2bAU$214.9bAU$21.9b13.3x23x2.3x
Mon, 18 Mar 2024AU$470.1bAU$213.4bAU$21.9b12.5x21.5x2.2x
Wed, 14 Feb 2024AU$499.1bAU$209.8bAU$31.5b11.8x15.8x2.4x
Fri, 12 Jan 2024AU$556.2bAU$220.8bAU$32.3b12.1x17.2x2.5x
Sun, 10 Dec 2023AU$547.5bAU$223.3bAU$32.9b11x16.7x2.5x
Tue, 07 Nov 2023AU$528.6bAU$224.9bAU$33.4b10.2x15.8x2.4x
Thu, 05 Oct 2023AU$522.4bAU$228.6bAU$34.2b9.7x15.3x2.3x
Sat, 02 Sep 2023AU$531.9bAU$225.5bAU$34.0b12.2x15.6x2.4x
Mon, 31 Jul 2023AU$548.5bAU$233.9bAU$48.8b10x11.2x2.3x
Wed, 28 Jun 2023AU$542.3bAU$232.9bAU$48.5b10x11.2x2.3x
Price to Earnings Ratio

11.2x


Total Market Cap: AU$542.3bTotal Earnings: AU$48.5bTotal Revenue: AU$232.9bTotal 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 27.6x 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 3.5x.
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 Market0.56%
Materials0.11%
Metals and Mining0.052%
Gold9.20%
Aluminum5.57%
Copper3.91%
Silver-0.92%
Steel-1.96%
Diversified Metals and Mining-2.28%
Precious Metals and Minerals-4.99%
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 28.2%, 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
NST Northern Star ResourcesAU$20.878.4%
+AU$2.3b		1.7%PE19.3x
EVN Evolution MiningAU$12.546.7%
+AU$1.6b		60.4%PE19.2x
GGP Greatland ResourcesAU$13.5911.0%
+AU$908.4m		n/aPE14.2x
RRL Regis ResourcesAU$6.9418.6%
+AU$825.4m		47.7%PE10.8x
VAU Vault MineralsAU$4.8019.7%
+AU$817.3m		80.1%PE60.2x

Latest News

S32
AU$4.13
South32
7D
-8.6%
1Y
43.4%
Narrative Update • Jun 19

S32: Citi Upgrade And Hermosa Progress Will Shape Future Copper And Aluminium Upside

Analysts have lifted the South32 price target to A$3.20 from A$3.00, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and a revised future P/E multiple. Analyst Commentary Recent Street research on South32 highlights a series of upward price target revisions that give you a clearer view of how external specialists are thinking about the stock's valuation and execution risk.
IPX
AU$4.36
IperionX
7D
-14.8%
1Y
1.6%
SMR
AU$2.46
Stanmore Resources
7D
-8.6%
1Y
27.5%
Narrative Update • Jun 17

SMR: Bullish Reversal Setup And Anglo Coal Bid Will Guide Shares

Analysts have modestly adjusted their price outlook for Stanmore Resources, reflecting updated assumptions around discount rates, revenue growth expectations, profit margins and future P/E levels. Together, these factors drive a slightly different A$ fair value view for the stock.
NST
AU$20.87
Northern Star Resources
7D
8.4%
1Y
1.7%
GGP
AU$13.59
Greatland Resources
7D
11.0%
1Y
n/a
BHP
AU$61.40
BHP Group
7D
-2.4%
1Y
69.6%
Analysis Article • Jun 17

BHP Group (ASX:BHP) Shares Could Be 46% Undervalued After Copper Growth News

BHP Group (ASX:BHP) is back in focus after a series of copper centric developments, including regulatory approval for large Argentine projects and changes to Australian mining agreements, which intersect with rising electrification demand and strong recent copper earnings contributions. See our latest analysis for BHP Group. Against this backdrop of copper focused news, BHP Group’s share price has moved to A$65.19, with strong recent momentum reflected in a 30.15% 90 day share price return...
PLS
AU$5.88
PLS Group
7D
-9.8%
1Y
378.0%
Narrative Update • Jun 17

PLS: Lithium Rebound And Project Restarts Will Test Elevated P/E

Analysts have adjusted their fair value estimate for PLS Group stock to A$5.70 from A$5.55, reflecting updated assumptions about revenue growth, profit margins and future P/E expectations. What’s in the News for PLS Group PLS Group stock rose nearly 10% as lithium prices remained strong and the company moved closer to restarting its Ngungaju plant, with the restart targeted for early July 2026.
PRU
AU$5.45
Perseus Mining
7D
11.7%
1Y
54.0%
New Narrative • Jun 17

Mega IPO Liquidity Cycles and Temporary Mispricing in Defensive Assets – A Perseus Mining Case Study

The recent SpaceX IPO has been a spectacular market event. What was already an eye-watering valuation at issuance increased dramatically almost immediately after public trading began, further reinforcing investor appetite for high-growth speculative opportunities.
RRL
AU$6.94
Regis Resources
7D
18.6%
1Y
47.7%
EVN
AU$12.54
Evolution Mining
7D
6.7%
1Y
60.4%
VAU
AU$4.80
Vault Minerals
7D
19.7%
1Y
80.1%
FMG
AU$19.75
Fortescue
7D
-2.3%
1Y
34.4%
New Narrative • Jun 15

Decarbonization And Green Metals Expansion Will Reshape Long Term Earnings Quality

Catalysts About Fortescue Fortescue is a global resources company focused on iron ore production, emerging green metals and energy technologies, and a growing portfolio of critical minerals projects. What are the underlying business or industry changes driving this perspective?
IGO
AU$8.17
IGO
7D
-7.8%
1Y
109.5%
GMD
AU$5.96
Genesis Minerals
7D
12.0%
1Y
29.3%
LTR
AU$1.98
Liontown
7D
-9.2%
1Y
202.3%
Narrative Update • Jun 08

LTR: Future Upside Will Likely Be Capped Despite Cash Flow Milestone

Analysts have lifted their fair value estimate for Liontown from A$0.82 to A$0.96, supported by updated assumptions for revenue growth, profit margins, and a lower expected future P/E multiple. What's in the News Liontown reported its first quarter of positive net cash flow since production began, with A$33 million generated in the March 2026 quarter, according to recent company updates.
PDI
AU$0.94
Predictive Discovery
7D
20.4%
1Y
142.3%
New Narrative • May 30

Permit Risks And Rising Costs Will Challenge Long Term Gold Expansion Potential

Catalysts About Predictive Discovery Predictive Discovery is a West African gold producer with two operating mines and the Bankan development project. What are the underlying business or industry changes driving this perspective?