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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJul 30, 2026
DataAggregated Company Financials
Companies685
  • 7D-0.07%
  • 3M-0.6%
  • 1Y39.9%
  • YTD5.3%

Over the last 7 days, the Metals and Mining industry has remained flat, although notably Lynas Rare Earths declined by 8.3%. As for the the longer term, the industry is up 40% over the past 12 months. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Jul 2026AU$667.0bAU$207.2bAU$26.0b10.9x25.6x3.2x
Sat, 27 Jun 2026AU$678.3bAU$207.9bAU$26.1b11.3x25.9x3.3x
Mon, 25 May 2026AU$709.2bAU$203.6bAU$25.4b12.6x27.9x3.5x
Wed, 22 Apr 2026AU$705.6bAU$202.9bAU$25.5b13.7x27.7x3.5x
Fri, 20 Mar 2026AU$608.6bAU$204.9bAU$26.1b13.2x23.3x3x
Sun, 15 Feb 2026AU$678.6bAU$191.9bAU$18.9b24.2x35.8x3.5x
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
Price to Earnings Ratio

11.1x


Total Market Cap: AU$545.9bTotal Earnings: AU$49.4bTotal Revenue: AU$236.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 22.8x202420252026
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 25.6x which is higher than its 3-year average PE of 22.8x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.2x.
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 4.2% 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 Market2.05%
Materials0.25%
Metals and Mining-0.066%
Steel1.28%
Precious Metals and Minerals0.12%
Gold-0.06%
Diversified Metals and Mining-0.29%
Silver-0.99%
Copper-1.66%
Aluminum-2.78%
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 25.1%, 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 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 111% 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
BHP BHP GroupAU$60.180.7%
+AU$2.1b		49.6%PE20.7x
FMG FortescueAU$19.082.7%
+AU$1.6b		4.9%PE10.9x
NST Northern Star ResourcesAU$20.701.7%
+AU$498.4m		30.0%PE19x
MIN Mineral ResourcesAU$55.623.7%
+AU$392.8m		80.7%PE27.4x
CMM Capricorn MetalsAU$13.456.3%
+AU$365.4m		47.3%PE26.5x

Latest News

MIN
AU$55.62
Mineral Resources
7D
3.7%
1Y
80.7%
EVN
AU$11.41
Evolution Mining
7D
0.4%
1Y
55.7%
LTR
AU$1.11
Liontown
7D
-10.5%
1Y
34.8%
GGP
AU$10.23
Greatland Resources
7D
-2.4%
1Y
84.0%
DVP
AU$4.60
Develop Global
7D
-20.6%
1Y
2.7%
SGM
AU$24.93
Sims
7D
-4.8%
1Y
54.9%
Narrative Update • Jul 28

SGM: FY26 Guidance Strength Will Likely Mask Overvaluation Risk

Analysts have lifted the Sims price target to A$31 from A$19, citing FY26 guidance that sits about 15% ahead of consensus at the midpoint and an associated 14% increase in their FY26 EBIT outlook. What's in the News for Sims No recent Sims specific news items were available from the provided sources as of 28 Jul 2026.
SMR
AU$2.43
Stanmore Resources
7D
-11.6%
1Y
6.1%
Narrative Update • Jul 28

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

Analysts have raised their price target for Stanmore Resources from A$3.35 to A$3.90, citing updated assumptions for revenue growth, profit margins and a lower forecast P/E multiple. What’s in the News for Stanmore Resources No recent news stories for Stanmore Resources are available from the specified primary sources.
NST
AU$20.70
Northern Star Resources
7D
1.7%
1Y
30.0%
Narrative Update • Jul 28

NST: Leadership Renewal And Project Execution Are Expected To Unlock Further Upside

Northern Star Resources’ analyst price target has been revised from A$25.74 to A$24.82 as analysts factor in updated fair value estimates, slightly higher discount rates, more moderate revenue growth and profit margin expectations, and a higher future P/E assumption. What's in the News Northern Star Resources has appointed Suresh Vadnagra as Managing Director and CEO, effective 5 October 2026.
IGO
AU$6.92
IGO
7D
3.3%
1Y
49.1%
CMM
AU$13.45
Capricorn Metals
7D
6.3%
1Y
47.3%
RMS
AU$3.18
Ramelius Resources
7D
2.6%
1Y
21.8%
LYC
AU$14.10
Lynas Rare Earths
7D
-8.3%
1Y
31.3%
SRL
AU$13.66
Sunrise Energy Metals
7D
-7.3%
1Y
1,201.0%
FMG
AU$19.08
Fortescue
7D
2.7%
1Y
4.9%
Narrative Update • Jul 22

FMG: China Ore Curbs And Green Energy Spend Will Shape Future Returns

Analysts have reduced their price target on Fortescue to A$18.65 from A$19.23, citing concerns about potential pressure on future cash flows from higher mine replacement and decarbonization spending. What’s in the News for Fortescue China’s state procurement agency, China Mineral Resources Group, has restricted deliveries of Fortescue’s lower grade Super Special Fines and Fortune Fines while price negotiations are stalled, according to recent reporting.
BHP
AU$60.18
BHP Group
7D
0.7%
1Y
49.6%
Narrative Update • Jul 20

BHP: Potash Overruns And Impairment Will Restrain Future Project Returns

The analyst fair value estimate for BHP Group has been raised from A$40.94 to A$43.59 as analysts recalibrate their models following a series of mixed price target revisions that reflect updated views on project capex, impairment charges, and sector risk. Analyst Commentary Recent research on BHP Group shows a mix of cautious and supportive views, with several firms adjusting price targets and ratings as new information on project spending, impairments, and macro risks has emerged.
NIC
AU$0.79
Nickel Industries
7D
-9.7%
1Y
3.9%
Narrative Update • Jul 08

NIC: ENC Ramp And Margin Upside Will Reset Earnings Narrative

Analysts have lifted their fair value estimate for Nickel Industries to A$1.26 from A$1.19, citing updated assumptions that pair slightly lower revenue growth with a higher projected profit margin and a modestly lower future P/E multiple. Analyst Commentary Recent commentary around Nickel Industries highlights how analysts are thinking about the balance between valuation, execution risk and growth potential, even as they refine fair value estimates and underlying assumptions.