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Australian (ASX) Metals and Mining Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies686
  • 7D-3.4%
  • 3M0.3%
  • 1Y52.0%
  • YTD6.4%

Over the last 7 days, the Metals and Mining industry has dropped 3.4%, driven by Northern Star Resources declining 8.7%. This takes the industry's 12 month performance to a gain of 52%. 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
Wed, 01 Jul 2026AU$673.3bAU$208.2bAU$26.2b11.1x25.7x3.2x
Fri, 29 May 2026AU$711.2bAU$203.9bAU$25.4b12.6x28x3.5x
Sun, 26 Apr 2026AU$690.1bAU$203.1bAU$25.5b13.1x27x3.4x
Tue, 24 Mar 2026AU$586.3bAU$205.6bAU$26.1b11.9x22.5x2.9x
Thu, 19 Feb 2026AU$681.9bAU$196.6bAU$20.5b24.5x33.3x3.5x
Sat, 17 Jan 2026AU$676.8bAU$196.9bAU$19.0b25.4x35.5x3.4x
Mon, 15 Dec 2025AU$615.4bAU$198.5bAU$19.0b22.9x32.4x3.1x
Wed, 12 Nov 2025AU$569.4bAU$200.8bAU$19.3b21x29.5x2.8x
Fri, 10 Oct 2025AU$577.4bAU$199.9bAU$19.1b22.3x30.2x2.9x
Sun, 07 Sep 2025AU$515.0bAU$201.4bAU$19.3b16.3x26.7x2.6x
Tue, 05 Aug 2025AU$463.3bAU$205.3bAU$21.8b13.9x21.3x2.3x
Thu, 03 Jul 2025AU$442.2bAU$203.6bAU$21.5b13.8x20.6x2.2x
Sat, 31 May 2025AU$446.8bAU$206.6bAU$21.9b12.8x20.4x2.2x
Mon, 28 Apr 2025AU$427.0bAU$207.1bAU$22.0b12.1x19.4x2.1x
Wed, 26 Mar 2025AU$431.5bAU$209.1bAU$22.0b11.5x19.6x2.1x
Fri, 21 Feb 2025AU$451.2bAU$208.0bAU$24.7b12.9x18.2x2.2x
Sun, 19 Jan 2025AU$454.0bAU$214.6bAU$21.7b12.7x20.9x2.1x
Tue, 17 Dec 2024AU$444.7bAU$210.9bAU$21.2b12.7x21x2.1x
Thu, 14 Nov 2024AU$449.5bAU$207.0bAU$20.6b11.4x21.8x2.2x
Sat, 12 Oct 2024AU$473.1bAU$202.9bAU$20.2b12.4x23.4x2.3x
Mon, 09 Sep 2024AU$410.3bAU$204.8bAU$20.0b13.2x20.5x2x
Wed, 07 Aug 2024AU$434.6bAU$212.4bAU$21.6b12.7x20.1x2x
Fri, 05 Jul 2024AU$482.2bAU$206.8bAU$20.5b13.6x23.5x2.3x
Sun, 02 Jun 2024AU$500.4bAU$209.7bAU$21.0b14.8x23.8x2.4x
Tue, 30 Apr 2024AU$495.5bAU$211.7bAU$21.4b13.5x23.1x2.3x
Thu, 28 Mar 2024AU$482.8bAU$214.0bAU$21.7b12.5x22.3x2.3x
Sat, 24 Feb 2024AU$489.7bAU$212.0bAU$22.9b11x21.4x2.3x
Mon, 22 Jan 2024AU$536.1bAU$222.9bAU$32.7b11.7x16.4x2.4x
Wed, 20 Dec 2023AU$571.3bAU$220.1bAU$32.2b11.6x17.8x2.6x
Fri, 17 Nov 2023AU$541.1bAU$224.9bAU$33.2b10.3x16.3x2.4x
Sun, 15 Oct 2023AU$524.7bAU$229.9bAU$34.4b10.5x15.3x2.3x
Tue, 12 Sep 2023AU$518.3bAU$226.8bAU$34.1b11.2x15.2x2.3x
Thu, 10 Aug 2023AU$541.3bAU$236.2bAU$49.2b9.5x11x2.3x
Sat, 08 Jul 2023AU$532.4bAU$233.1bAU$48.6b10x11x2.3x
Price to Earnings Ratio

11x


Total Market Cap: AU$532.4bTotal Earnings: AU$48.6bTotal Revenue: AU$233.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 22.4x202420252026
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 25.7x which is higher than its 3-year average PE of 22.4x.
  • 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 3.7% 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 Market0.033%
Materials-2.87%
Metals and Mining-3.42%
Steel-0.98%
Precious Metals and Minerals-1.21%
Aluminum-1.97%
Diversified Metals and Mining-2.00%
Copper-2.64%
Silver-6.14%
Gold-9.31%
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 28.6%, 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 29% 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$59.920.7%
+AU$2.1b		61.1%PE20.5x
S32 South32AU$4.285.4%
+AU$985.0m		37.2%PE33.5x
EQR EQ ResourcesAU$0.299.3%
+AU$126.6m		541.3%PS19.8x
DRR Deterra RoyaltiesAU$4.714.4%
+AU$105.9m		22.3%PE13.9x
SLS Solstice MineralsAU$2.1333.1%
+AU$91.2m		769.4%PB19.7x

Latest News

BSL
AU$31.34
BlueScope Steel
7D
-4.4%
1Y
30.9%
GGP
AU$10.91
Greatland Resources
7D
-15.2%
1Y
55.2%
Narrative Update • Jun 30

GGP: Ore Reserve Uplift And Funding Progress Will Underpin Multi Year Output

Analysts now view Greatland Resources as fairly valued at A$17.70 per share, down from the previous A$19.00. This reflects updated views on discount rates, revenue growth, profit margins and future P/E assumptions following recent upgrades in Street research.
PDI
AU$0.70
Predictive Discovery
7D
-15.7%
1Y
81.8%
Narrative Update • Jun 30

PDI: Merger And Bankan Development Will Drive Future Production Upside

Analysts have modestly reduced their price target on Predictive Discovery to A$1.15 from A$1.25, reflecting updated assumptions around higher projected revenue growth, a lower estimated profit margin, and a reduced future P/E multiple. What's in the News Predictive Discovery completed a merger with Robex Resources, combining the Bankan Gold Project in Guinea with the producing Kiniéro and Nampala mines, according to recent news reports.
EQR
AU$0.29
EQ Resources
7D
9.3%
1Y
541.3%
NST
AU$18.80
Northern Star Resources
7D
-8.7%
1Y
0.2%
Narrative Update • Jun 30

NST: Future Upside Seen From Activist Pressure And Leadership Transition

Northern Star Resources' analyst price target has been revised from A$27.38 to A$25.74, with analysts pointing to updated fair value estimates, a slightly different discount rate and adjusted assumptions for revenue growth, profit margins and future P/E multiples. What’s in the News for Northern Star Resources Elliott Investment Management, which holds an ownership stake of more than A$1b in Northern Star Resources, is publicly pushing for a formal strategic review, potential sale options, and a stronger board, citing operational issues, governance concerns, and the handling of CEO succession (source: Elliott Investment Management, company statements).
PLS
AU$5.11
PLS Group
7D
-9.7%
1Y
273.0%
BHP
AU$59.92
BHP Group
7D
0.7%
1Y
61.1%
CIA
AU$3.94
Champion Iron
7D
2.6%
1Y
-7.9%
S32
AU$4.28
South32
7D
5.4%
1Y
37.2%
NIC
AU$0.96
Nickel Industries
7D
1.1%
1Y
34.3%
Narrative Update • Jun 24

NIC: Battery Metals Upswing And ENC Ramp Will Reset Earnings Narrative

Analysts have lowered their price target for Nickel Industries to A$1.19 from A$1.28, as a slightly higher discount rate offsets updated expectations for revenue growth, profit margins and a lower future P/E multiple. Analyst Commentary Recent commentary around Nickel Industries highlights how analysts are weighing growth opportunities against execution risks and valuation discipline, particularly as they adjust assumptions for revenue, margins and future P/E multiples.
LYC
AU$18.09
Lynas Rare Earths
7D
-6.5%
1Y
116.9%
Narrative Update • Jun 23

LYC: Long Dated Supply Contracts And Operational Issues Will Cap Rare Earth Upside

Analysts have made a small adjustment to Lynas Rare Earths' fair value estimate, with the target moving from A$10.03 to about A$10.00. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples.
EVN
AU$11.56
Evolution Mining
7D
-6.4%
1Y
47.8%
Narrative Update • Jun 23

EVN: Copper Support Will Likely Fail To Offset Execution And Cost Risks

Analysts have trimmed their fair value estimate for Evolution Mining to A$7.06 from A$7.41, citing revised assumptions around discount rates, revenue growth, margins and future P/E. They also point to recent rating upgrades that highlight the support from copper exposure during periods of gold price volatility.
MEI
AU$0.17
Meteoric Resources
7D
10.0%
1Y
37.5%
DRR
AU$4.71
Deterra Royalties
7D
4.4%
1Y
22.3%
Narrative Update • Jun 05

DRR: Royalty Cash Flows And Lithium Optionality Will Support A Balanced Outlook

Analysts have increased their A$ fair value estimate for Deterra Royalties from A$4.56 to A$4.65, citing a refreshed view on discount rates, revenue trends, profit margins, and future P/E assumptions following recent Street research. What's in the News J.P. Morgan maintained its Buy rating on Deterra Royalties with a price target of A$5.20, while Morgans also kept a Buy rating with a price target of A$5.10, following recent research coverage.
MI6
AU$0.69
Minerals 260
7D
-27.0%
1Y
475.0%
SLS
AU$2.13
Solstice Minerals
7D
33.1%
1Y
769.4%