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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies687
  • 7D-4.6%
  • 3M16.7%
  • 1Y62.8%
  • YTD12.1%

Over the last 7 days, the Metals and Mining industry has dropped 4.6%, driven by BHP Group declining 8.1%. This takes the industry's 12 month performance to a gain of 63%. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026AU$709.4bAU$206.1bAU$25.8b11.6x27.5x3.4x
Thu, 21 May 2026AU$684.3bAU$203.8bAU$25.4b12.4x27x3.4x
Sat, 18 Apr 2026AU$705.8bAU$202.7bAU$25.5b12.9x27.7x3.5x
Mon, 16 Mar 2026AU$651.0bAU$204.7bAU$25.0b15.2x26x3.2x
Wed, 11 Feb 2026AU$678.2bAU$190.5bAU$18.1b24.8x37.4x3.6x
Fri, 09 Jan 2026AU$651.6bAU$197.1bAU$19.1b24.8x34.2x3.3x
Sun, 07 Dec 2025AU$598.5bAU$198.7bAU$19.0b21.9x31.5x3x
Tue, 04 Nov 2025AU$566.6bAU$201.1bAU$19.2b20.8x29.5x2.8x
Thu, 02 Oct 2025AU$543.2bAU$199.8bAU$18.8b21x28.9x2.7x
Sat, 30 Aug 2025AU$514.1bAU$202.0bAU$19.5b15.6x26.4x2.5x
Mon, 28 Jul 2025AU$477.7bAU$203.4bAU$21.4b13.5x22.3x2.3x
Wed, 25 Jun 2025AU$435.9bAU$204.7bAU$21.7b12.7x20.1x2.1x
Fri, 23 May 2025AU$447.7bAU$206.7bAU$22.0b12.4x20.4x2.2x
Sun, 20 Apr 2025AU$422.0bAU$207.7bAU$22.2b11.8x19x2x
Tue, 18 Mar 2025AU$437.1bAU$208.4bAU$22.5b11.4x19.4x2.1x
Thu, 13 Feb 2025AU$456.8bAU$213.1bAU$21.6b13.5x21.1x2.1x
Sat, 11 Jan 2025AU$441.1bAU$214.8bAU$21.8b12x20.3x2.1x
Mon, 09 Dec 2024AU$454.9bAU$210.1bAU$21.1b12.5x21.6x2.2x
Wed, 06 Nov 2024AU$472.3bAU$205.1bAU$20.5b12.4x23.1x2.3x
Fri, 04 Oct 2024AU$484.2bAU$200.8bAU$19.9b12.1x24.3x2.4x
Sun, 01 Sep 2024AU$440.9bAU$202.6bAU$19.7b13.3x22.4x2.2x
Tue, 30 Jul 2024AU$455.0bAU$210.6bAU$21.0b13.3x21.6x2.2x
Thu, 27 Jun 2024AU$467.4bAU$208.3bAU$20.7b13.3x22.5x2.2x
Sat, 25 May 2024AU$508.0bAU$210.4bAU$21.1b15x24.1x2.4x
Mon, 22 Apr 2024AU$496.2bAU$215.0bAU$21.9b13.5x22.7x2.3x
Wed, 20 Mar 2024AU$480.5bAU$214.2bAU$21.8b11.8x22.1x2.2x
Fri, 16 Feb 2024AU$490.4bAU$209.3bAU$30.6b11.6x16x2.3x
Sun, 14 Jan 2024AU$556.6bAU$221.1bAU$32.4b12.1x17.2x2.5x
Tue, 12 Dec 2023AU$544.1bAU$223.6bAU$32.9b10.7x16.5x2.4x
Thu, 09 Nov 2023AU$522.0bAU$226.8bAU$33.8b10.1x15.5x2.3x
Sat, 07 Oct 2023AU$511.8bAU$228.4bAU$34.1b9.8x15x2.2x
Mon, 04 Sep 2023AU$532.0bAU$226.2bAU$34.2b12.2x15.6x2.4x
Wed, 02 Aug 2023AU$554.0bAU$234.4bAU$48.9b9.7x11.3x2.4x
Fri, 30 Jun 2023AU$542.3bAU$234.4bAU$48.9b10x11.1x2.3x
Price to Earnings Ratio

11.1x


Total Market Cap: AU$542.3bTotal Earnings: AU$48.9bTotal Revenue: AU$234.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 22.3x202420252026
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 27.5x which is higher than its 3-year average PE of 22.3x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.4x.
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 Market-0.91%
Materials-4.41%
Metals and Mining-4.62%
Aluminum4.02%
Gold1.83%
Copper-2.01%
Steel-4.81%
Precious Metals and Minerals-5.56%
Diversified Metals and Mining-6.63%
Silver-10.65%
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 28.1%, 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 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
LYC Lynas Rare EarthsAU$18.593.4%
+AU$614.0m		102.5%PE227.2x
SRL Sunrise Energy MetalsAU$17.886.0%
+AU$155.2m		1,864.8%PS20660.9x
EQR EQ ResourcesAU$0.2710.4%
+AU$126.6m		657.1%PS17.8x
MI6 Minerals 260AU$0.953.8%
+AU$79.4m		730.4%PB10.9x
BCI BCI MineralsAU$0.387.1%
+AU$73.4m		8.7%PS288.2x

Latest News

IGO
AU$7.52
IGO
7D
-14.3%
1Y
86.1%
EQR
AU$0.27
EQ Resources
7D
10.4%
1Y
657.1%
RRL
AU$6.76
Regis Resources
7D
1.0%
1Y
45.7%
VAU
AU$4.76
Vault Minerals
7D
1.1%
1Y
83.1%
BHP
AU$59.92
BHP Group
7D
-8.1%
1Y
64.3%
Narrative Update • Jun 22

BHP: Copper Strength And Jansen Risks Will Shape Fairly Valued Outlook

The analyst price target for BHP Group has been revised higher to A$61.02 from A$55.62, as analysts incorporate updated assumptions around revenue growth, profit margins, and a slightly lower discount rate, despite mixed reactions to the Jansen Potash capex increase and related impairment. Analyst Commentary Recent research on BHP Group shows a split view, with some bullish analysts focusing on long term growth optionality and others highlighting execution risks and valuation constraints after the Jansen Potash updates.
NST
AU$20.62
Northern Star Resources
7D
-3.2%
1Y
4.1%
EVN
AU$12.64
Evolution Mining
7D
-3.4%
1Y
64.6%
Analysis Article • Jun 21

Evolution Mining (ASX:EVN) Shares Could Be 9.9% Undervalued After Net Cash Shift

Evolution Mining (ASX:EVN) is back in focus after reports of record cash generation, a shift to a net cash position and a broker upgrade, all occurring as firm gold prices support sector interest. See our latest analysis for Evolution Mining. At a latest share price of A$12.54, Evolution Mining has seen short term share price momentum soften after a 1 day decline of 5.07%. However, the 1 year total shareholder return of 64.53% and 3 year total shareholder return above 3x indicate that longer...
BCI
AU$0.38
BCI Minerals
7D
7.1%
1Y
8.7%
S32
AU$4.14
South32
7D
-3.0%
1Y
41.8%
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.
SRL
AU$17.88
Sunrise Energy Metals
7D
6.0%
1Y
1,864.8%
Analysis Article • Jun 17

Sunrise Energy Metals (ASX:SRL) Shares Could Be 12% Below Fair Value After Agni Deal

Sunrise Energy Metals (ASX:SRL) has come into focus after committing a US$5 million equity investment in Agni Semiconductor, a move tied directly to its Syerston scandium project and broader battery metals and energy transition themes. See our latest analysis for Sunrise Energy Metals. The recent Agni Semiconductor deal lands at a time when Sunrise Energy Metals’ share price has been very strong, with a 7 day share price return of 30.45% and a 90 day share price return of 126.43%. The 1 year...
PLS
AU$5.47
PLS Group
7D
-11.6%
1Y
325.7%
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.
FMG
AU$19.27
Fortescue
7D
-6.2%
1Y
26.5%
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?
MIN
AU$64.95
Mineral Resources
7D
-8.2%
1Y
202.7%
LYC
AU$18.59
Lynas Rare Earths
7D
3.4%
1Y
102.5%
MI6
AU$0.95
Minerals 260
7D
3.8%
1Y
730.4%
A1M
AU$0.75
AIC Mines
7D
9.5%
1Y
150.0%