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Australian (ASX) Metals and Mining Industry Analysis

UpdatedAug 28, 2025
DataAggregated Company Financials
Companies674
  • 7D3.8%
  • 3M14.3%
  • 1Y15.1%
  • YTD16.2%

Over the last 7 days, the Metals and Mining industry has risen 3.8%, driven by gains from BHP Group of 2.3%. In the last 12 months, the industry was up 15%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Fri, 26 May 2023AU$527.3bAU$236.0bAU$49.4b9.5x10.7x2.2x
Sun, 23 Apr 2023AU$552.7bAU$233.0bAU$48.7b9.5x11.3x2.4x
Tue, 21 Mar 2023AU$512.2bAU$228.7bAU$47.9b9.1x10.7x2.2x
Thu, 16 Feb 2023AU$565.6bAU$225.6bAU$52.2b11.7x10.8x2.5x
Sat, 14 Jan 2023AU$580.2bAU$224.2bAU$51.4b11.9x11.3x2.6x
Mon, 12 Dec 2022AU$557.6bAU$227.5bAU$52.4b11.4x10.6x2.5x
Wed, 09 Nov 2022AU$491.6bAU$235.8bAU$55.0b9.7x8.9x2.1x
Fri, 07 Oct 2022AU$492.5bAU$235.5bAU$55.0b9.4x9x2.1x
Sun, 04 Sep 2022AU$456.4bAU$225.5bAU$53.0b9.2x8.6x2x
Price to Earnings Ratio

8.6x


Total Market Cap: AU$456.4bTotal Earnings: AU$53.0bTotal Revenue: AU$225.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 17x202320242025
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 28.2x which is higher than its 3-year average PE of 17.0x.
  • The 3-year average PS ratio of 2.3x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 30% per year over the last three years,
  • Revenues have also declined 3.5% 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 Market0.59%
Materials3.41%
Metals and Mining3.85%
Silver9.56%
Gold7.08%
Precious Metals and Minerals6.72%
Copper6.09%
Diversified Metals and Mining4.06%
Aluminum2.15%
Steel-1.29%
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% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Aluminum industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Steel industry is expected to see its earnings decline by 3.3% 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$43.012.3%
+AU$4.8b		6.1%PE15.8x
EVN Evolution MiningAU$8.504.9%
+AU$805.4m		102.4%PE18.5x
NST Northern Star ResourcesAU$18.873.1%
+AU$800.0m		25.8%PE20.1x
LYC Lynas Rare EarthsAU$14.735.4%
+AU$701.6m		109.8%PE271.1x
WAF West African ResourcesAU$3.0415.6%
+AU$467.8m		117.9%PE10.6x

Latest News

S32
AU$2.70
South32
7D
-7.2%
1Y
-12.9%
LYC
AU$14.73
Lynas Rare Earths
7D
5.4%
1Y
109.8%
IGO
AU$5.10
IGO
7D
-3.6%
1Y
-4.1%
FMG
AU$19.34
Fortescue
7D
-1.9%
1Y
4.2%
PRU
AU$3.86
Perseus Mining
7D
7.5%
1Y
43.0%
BHP
AU$43.01
BHP Group
7D
2.3%
1Y
6.1%

Expanding Copper Production And Potash Entry Will Diversify Portfolio, But Analysts Forecast Earnings Decline

Consensus analyst reasoning reflects cautious optimism for BHP Group, as improved underlying fiscal results and modest upgrades to revenue forecasts are tempered by ongoing execution risks, cost inflation, and less compelling valuation following a share price rally—resulting in a moderate increase in the analyst price target from A$41.44 to A$42.94. Analyst Commentary Bearish analysts pointed to execution risk related to significant cost overruns (“cost blow out”) at Jansen Stage 1, weighing on future outlook.
EVN
AU$8.50
Evolution Mining
7D
4.9%
1Y
102.4%

Gold Safe-Haven Demand Will Boost Outlook While Costs Persist

Despite a notable downgrade in consensus revenue growth forecasts and an increase in the future P/E multiple, Evolution Mining’s consensus analyst price target has only marginally increased from A$7.12 to A$7.22. What's in the News Reported FY25 gold production of 750,512 oz (up from 716,700 oz) and copper production of 76,261 oz (up from 67,862 oz).
RMS
AU$3.09
Ramelius Resources
7D
6.6%
1Y
40.5%
WAF
AU$3.04
West African Resources
7D
15.6%
1Y
117.9%
IMD
AU$2.99
Imdex
7D
-12.1%
1Y
35.9%
NST
AU$18.87
Northern Star Resources
7D
3.1%
1Y
25.8%

Impressive Earnings May Not Tell The Whole Story For Northern Star Resources (ASX:NST)

Aug 27
Impressive Earnings May Not Tell The Whole Story For Northern Star Resources (ASX:NST)
SMR
AU$1.91
Stanmore Resources
7D
-12.8%
1Y
-35.7%
VAU
AU$0.53
Vault Minerals
7D
12.8%
1Y
65.6%

Vault Minerals Limited (ASX:VAU) Surges 25% Yet Its Low P/S Is No Reason For Excitement

Aug 24
Vault Minerals Limited (ASX:VAU) Surges 25% Yet Its Low P/S Is No Reason For Excitement
RSG
AU$0.66
Resolute Mining
7D
-9.7%
1Y
-4.4%
BSL
AU$22.96
BlueScope Steel
7D
-4.4%
1Y
11.5%
NIC
AU$0.72
Nickel Industries
7D
-2.7%
1Y
-13.3%