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Australian (ASX) Metals and Mining Industry Analysis

UpdatedMay 31, 2026
DataAggregated Company Financials
Companies690
  • 7D3.4%
  • 3M-2.3%
  • 1Y59.3%
  • YTD15.9%

The Metals and Mining industry is up 3.4% in the last week, with BHP Group up 4.3%. In the same time, Champion Iron was down 9.7%. This takes the industry's 12 month performance to a gain of 59%. 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
Sun, 31 May 2026AU$733.3bAU$202.7bAU$25.2b12.4x29.1x3.6x
Tue, 28 Apr 2026AU$694.6bAU$202.5bAU$25.4b13.1x27.3x3.4x
Thu, 26 Mar 2026AU$633.5bAU$206.1bAU$26.2b12.8x24.2x3.1x
Sat, 21 Feb 2026AU$687.1bAU$198.9bAU$23.2b22.2x29.7x3.5x
Mon, 19 Jan 2026AU$676.9bAU$197.3bAU$19.1b25.4x35.4x3.4x
Wed, 17 Dec 2025AU$594.7bAU$198.8bAU$19.0b22.4x31.3x3x
Fri, 14 Nov 2025AU$584.0bAU$200.1bAU$19.2b21.9x30.4x2.9x
Sun, 12 Oct 2025AU$562.8bAU$202.1bAU$19.4b21.8x29x2.8x
Tue, 09 Sep 2025AU$512.9bAU$200.7bAU$19.3b16.2x26.6x2.6x
Thu, 07 Aug 2025AU$473.6bAU$204.7bAU$21.7b14.3x21.9x2.3x
Sat, 05 Jul 2025AU$452.6bAU$203.8bAU$21.5b13.5x21.1x2.2x
Mon, 02 Jun 2025AU$446.8bAU$206.0bAU$21.8b12.8x20.5x2.2x
Wed, 30 Apr 2025AU$432.0bAU$207.1bAU$22.0b11.9x19.6x2.1x
Fri, 28 Mar 2025AU$435.2bAU$209.7bAU$22.1b11.8x19.7x2.1x
Sun, 23 Feb 2025AU$458.3bAU$206.1bAU$22.4b12.7x20.5x2.2x
Tue, 21 Jan 2025AU$453.8bAU$214.4bAU$21.7b12.6x20.9x2.1x
Thu, 19 Dec 2024AU$442.7bAU$211.8bAU$21.3b12.8x20.8x2.1x
Sat, 16 Nov 2024AU$442.4bAU$208.2bAU$20.8b11.6x21.3x2.1x
Mon, 14 Oct 2024AU$473.1bAU$202.5bAU$20.1b12.4x23.5x2.3x
Wed, 11 Sep 2024AU$409.1bAU$204.8bAU$20.0b13.1x20.5x2x
Fri, 09 Aug 2024AU$426.0bAU$210.7bAU$21.3b12.1x20x2x
Sun, 07 Jul 2024AU$480.2bAU$206.3bAU$20.5b13.7x23.5x2.3x
Tue, 04 Jun 2024AU$501.8bAU$209.8bAU$21.0b14.5x23.9x2.4x
Thu, 02 May 2024AU$488.2bAU$213.1bAU$21.6b13.2x22.6x2.3x
Sat, 30 Mar 2024AU$492.3bAU$214.5bAU$21.7b13.2x22.7x2.3x
Mon, 26 Feb 2024AU$489.8bAU$211.9bAU$22.5b12.2x21.8x2.3x
Wed, 24 Jan 2024AU$536.3bAU$223.3bAU$32.8b11.8x16.3x2.4x
Fri, 22 Dec 2023AU$572.3bAU$219.6bAU$32.1b12.2x17.8x2.6x
Sun, 19 Nov 2023AU$538.1bAU$224.7bAU$33.1b10.3x16.2x2.4x
Tue, 17 Oct 2023AU$524.7bAU$229.9bAU$34.4b10.5x15.3x2.3x
Thu, 14 Sep 2023AU$516.7bAU$226.8bAU$34.0b11.7x15.2x2.3x
Sat, 12 Aug 2023AU$542.1bAU$236.5bAU$49.2b9.6x11x2.3x
Mon, 10 Jul 2023AU$532.4bAU$233.1bAU$48.6b10x11x2.3x
Wed, 07 Jun 2023AU$533.2bAU$233.8bAU$48.8b10x10.9x2.3x
Price to Earnings Ratio

10.9x


Total Market Cap: AU$533.2bTotal Earnings: AU$48.8bTotal Revenue: AU$233.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 21.9x202420252026
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 29.1x which is higher than its 3-year average PE of 21.9x.
  • 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 20% per year over the last three years,
  • Revenues have also declined 4.6% 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 Market0.98%
Materials3.51%
Metals and Mining3.36%
Aluminum6.06%
Copper4.60%
Steel4.23%
Diversified Metals and Mining4.00%
Gold0.70%
Precious Metals and Minerals-2.10%
Silver-2.94%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 0.21x.
    • Analysts are expecting annual earnings growth of 26.9%, 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 27% 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$62.314.3%
+AU$13.0b		62.9%PE22.2x
FMG FortescueAU$22.313.8%
+AU$2.5b		45.0%PE13.2x
S32 South32AU$4.8110.6%
+AU$2.1b		57.7%PE39.3x
MIN Mineral ResourcesAU$73.475.5%
+AU$748.6m		231.1%PE36.1x
SGM SimsAU$26.8215.5%
+AU$693.7m		77.1%PS0.7x

Latest News

CIA
AU$4.45
Champion Iron
7D
-9.7%
1Y
2.8%
RRL
AU$6.12
Regis Resources
7D
-3.6%
1Y
20.9%
Narrative Update • May 30

RRL: Index Inclusion And Execution Discipline Will Shape Bullish Pricing Outlook

Analysts have lifted their A$ price target for Regis Resources, citing small changes in discount rate, revenue growth, profit margin assumptions and future P/E estimates, as reflected in recent research updates. Analyst Commentary Recent research suggests that, even with upward adjustments to price targets, some bearish analysts are stressing that the risk and reward profile for Regis Resources still needs careful scrutiny.
SFR
AU$19.63
Sandfire Resources
7D
5.3%
1Y
70.3%
Narrative Update • May 30

SFR: Fair Outlook Will Rely On Margins And Refined P/E Framework

Analysts have lifted their fair value estimate for Sandfire Resources from A$18.79 to A$19.05, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E. Analyst Commentary Analysts reviewing Sandfire Resources are focusing on how the updated assumptions for discount rates, revenue growth, profit margins and future P/E feed into the revised fair value estimate of A$19.05.
GGP
AU$13.65
Greatland Resources
7D
4.7%
1Y
n/a
S32
AU$4.81
South32
7D
10.6%
1Y
57.7%
ELV
AU$12.89
Elevra Lithium
7D
-6.1%
1Y
437.1%
MIN
AU$73.47
Mineral Resources
7D
5.5%
1Y
231.1%
Narrative Update • May 28

MIN: Richer P/E And Weaker Margins Will Limit Future Upside

Analysts have lifted their price target for Mineral Resources from A$32.52 to A$38.79, citing updated assumptions on discount rates, revenue trends, profit margins and future P/E that contribute to a higher assessed fair value. Valuation Changes Fair Value: raised from A$32.52 to A$38.79, reflecting a higher assessed valuation per share.
IMD
AU$4.07
Imdex
7D
-4.5%
1Y
42.8%
New Narrative • May 28

Subsurface Intelligence Demand Will Drive Long Term Potential In Critical Metals Exploration

Catalysts About Imdex Imdex provides subsurface intelligence technologies that help resource and earth science customers find, define and optimize the subsurface environment using sensors, drilling solutions and integrated software. What are the underlying business or industry changes driving this perspective?
FMG
AU$22.31
Fortescue
7D
3.8%
1Y
45.0%
BHP
AU$62.31
BHP Group
7D
4.3%
1Y
62.9%
SGM
AU$26.82
Sims
7D
15.5%
1Y
77.1%
ARU
AU$0.27
Arafura Rare Earths
7D
-14.5%
1Y
60.6%
VAU
AU$4.20
Vault Minerals
7D
-4.5%
1Y
43.6%
MLX
AU$1.58
Metals X
7D
-10.5%
1Y
198.1%
PRU
AU$5.17
Perseus Mining
7D
-1.3%
1Y
32.9%
Narrative Update • May 18

PRU: Underground Ramp Up And Outperformance Rating Will Support Future Upside

Analysts have modestly lifted their A$6.70 price target on Perseus Mining as they refresh assumptions around discount rates, revenue growth and future P/E multiples, and factor in the recent upgrade to Outperform from Sector Perform. Analyst Commentary Analysts pointing to the refreshed A$6.70 price target and the recent upgrade to Outperform see this as a reassessment of Perseus Mining’s risk and reward profile, rather than a short term call.
BSL
AU$31.72
BlueScope Steel
7D
5.2%
1Y
39.4%