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Australian (ASX) Metals and Mining Industry Analysis

UpdatedAug 03, 2026
DataAggregated Company Financials
Companies689
  • 7D1.1%
  • 3M-2.6%
  • 1Y43.1%
  • YTD4.7%

Over the last 7 days, the Metals and Mining industry has risen 1.1%, driven by gains from BHP Group of 1.0%. In the same time, Fortescue was down 5.3%. In the last 12 months, the industry was up 43%. 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
Mon, 03 Aug 2026AU$664.7bAU$205.4bAU$25.7b10.7x25.9x3.2x
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
Price to Earnings Ratio

11x


Total Market Cap: AU$541.3bTotal Earnings: AU$49.2bTotal Revenue: AU$236.2bTotal 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 25.9x 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 20% per year over the last three years,
  • Revenues have also declined 4.5% 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 Market1.96%
Materials1.11%
Metals and Mining1.15%
Precious Metals and Minerals5.66%
Silver4.27%
Copper2.75%
Diversified Metals and Mining1.62%
Gold0.73%
Steel-0.82%
Aluminum-4.46%
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 24.7%, 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$60.721.0%
+AU$3.2b		53.4%PE21.2x
MIN Mineral ResourcesAU$57.735.5%
+AU$598.1m		87.7%PE28.5x
S32 South32AU$4.581.8%
+AU$358.2m		55.8%PE36.6x
BSL BlueScope SteelAU$33.452.0%
+AU$293.4m		44.8%PE51x
NIC Nickel IndustriesAU$0.815.2%
+AU$173.7m		11.6%PS1.5x

Latest News

FMG
AU$17.80
Fortescue
7D
-5.3%
1Y
-2.5%
CIA
AU$3.31
Champion Iron
7D
-16.8%
1Y
-19.9%
Analysis Article • Aug 01

Earnings Miss: Champion Iron Limited Missed EPS And Analysts Are Revising Their Forecasts

It's been a sad week for Champion Iron Limited ( ASX:CIA ), who've watched their investment drop 13% to AU$3.41 in the...
S32
AU$4.58
South32
7D
1.8%
1Y
55.8%
Narrative Update • Jul 31

S32: Aluminum Asset Sale Will Expose Portfolio To Execution Risk

South32's updated analyst price target has been revised to A$2.86 from A$4.07, reflecting analysts' reassessment of fair value, growth expectations and margin assumptions following recent sector research and transaction commentary. Analyst Commentary Recent Street research on South32 points to a more mixed backdrop, with some analysts revisiting their assumptions on pricing, margins and execution risk following transaction news and sector updates.
LTR
AU$0.99
Liontown
7D
-19.2%
1Y
19.3%
Narrative Update • Jul 30

LTR: Index Inclusion And Project Progress Will Support Future Re Rating

Analysts have reduced their fair value estimate for Liontown from A$2.00 to about A$1.58. This reflects updated assumptions for a slightly higher discount rate, more moderate revenue growth, lower profit margins and a modestly lower future P/E multiple.
MIN
AU$57.73
Mineral Resources
7D
5.5%
1Y
87.7%
NIC
AU$0.81
Nickel Industries
7D
5.2%
1Y
11.6%
Narrative Update • Jul 29

NIC: Higher Margin Outlook And Project Commissioning Will Support Future Upside

Analysts have reduced their fair value estimate for Nickel Industries to A$1.80 from A$2.00, citing a slightly higher discount rate, more measured revenue growth expectations, stronger projected profit margins, and a lower future P/E multiple in their updated price target work. Analyst Commentary Recent Street research on other nickel related and mining focused companies gives some context for how bullish analysts are thinking about valuation, growth, and execution risks.
ILU
AU$6.22
Iluka Resources
7D
6.7%
1Y
16.9%
PLS
AU$4.08
PLS Group
7D
-4.0%
1Y
142.1%
Narrative Update • Jul 29

PLS: Downstream Expansion And Ngungaju Restart Will Support Stronger Future Pricing

Analysts have trimmed their fair value estimate for PLS Group from A$7.70 to A$7.30, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E as the key drivers of the revised price target. What’s in the News for PLS Group PLS Group is expanding downstream lithium processing at its Pilgangoora project, moving further along the battery materials supply chain beyond spodumene concentrate production.
SMR
AU$2.31
Stanmore Resources
7D
-15.1%
1Y
7.4%
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$19.91
Northern Star Resources
7D
-2.2%
1Y
23.2%
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
2.5%
1Y
49.5%
BSL
AU$33.45
BlueScope Steel
7D
2.0%
1Y
44.8%
Narrative Update • Jul 27

BSL: Steel Pricing Momentum And Solid Balance Sheet Will Shape Fair Outlook

Analysts have lifted the fair value estimate for BlueScope Steel from A$33.19 to A$34.38. They point to support from recent research that highlights positive steel pricing, spreads, earnings momentum, a strong balance sheet and improving free cash flow.
CMM
AU$12.79
Capricorn Metals
7D
-6.6%
1Y
41.3%
LYC
AU$14.04
Lynas Rare Earths
7D
-5.6%
1Y
24.8%
BHP
AU$60.72
BHP Group
7D
1.0%
1Y
53.4%
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.
ZIM
AU$14.33
Zimplats Holdings
7D
6.9%
1Y
-7.5%