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Australian (ASX) Metals and Mining Industry Analysis

UpdatedAug 25, 2026
DataAggregated Company Financials
Companies687
  • 7D6.2%
  • 3M5.6%
  • 1Y46.7%
  • YTD20.6%

In the last week, the Metals and Mining industry is up 6.2%, with BHP Group leading the way, up 6.0%. In the last 12 months, the industry was up 47%. 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
Tue, 25 Aug 2026AU$766.4bAU$214.6bAU$25.9b12.8x29.6x3.6x
Thu, 23 Jul 2026AU$667.3bAU$206.3bAU$25.9b10.8x25.8x3.2x
Sat, 20 Jun 2026AU$713.6bAU$205.9bAU$25.8b11.9x27.6x3.5x
Mon, 18 May 2026AU$721.2bAU$203.3bAU$25.3b13.3x28.5x3.5x
Wed, 15 Apr 2026AU$698.9bAU$203.6bAU$25.6b13.2x27.3x3.4x
Fri, 13 Mar 2026AU$667.7bAU$202.0bAU$24.3b18.5x27.5x3.3x
Sun, 08 Feb 2026AU$649.3bAU$191.4bAU$18.3b22.8x35.5x3.4x
Tue, 06 Jan 2026AU$636.8bAU$197.3bAU$19.1b25.3x33.4x3.2x
Thu, 04 Dec 2025AU$590.5bAU$199.7bAU$19.1b22.4x30.9x3x
Sat, 01 Nov 2025AU$573.0bAU$201.2bAU$19.3b21.7x29.8x2.8x
Mon, 29 Sep 2025AU$539.8bAU$201.0bAU$19.2b18.8x28.2x2.7x
Wed, 27 Aug 2025AU$508.0bAU$202.0bAU$18.3b13.9x27.8x2.5x
Fri, 25 Jul 2025AU$487.4bAU$202.5bAU$21.3b13.1x22.9x2.4x
Sun, 22 Jun 2025AU$430.0bAU$205.1bAU$21.7b13.2x19.8x2.1x
Tue, 20 May 2025AU$439.5bAU$206.1bAU$21.9b12.1x20.1x2.1x
Thu, 17 Apr 2025AU$416.0bAU$207.7bAU$22.2b12.2x18.8x2x
Sat, 15 Mar 2025AU$427.1bAU$208.9bAU$22.6b11.4x18.9x2x
Mon, 10 Feb 2025AU$460.8bAU$212.6bAU$21.4b13.7x21.5x2.2x
Wed, 08 Jan 2025AU$430.1bAU$212.7bAU$21.5b11.9x20x2x
Fri, 06 Dec 2024AU$456.7bAU$209.0bAU$20.9b12.4x21.8x2.2x
Sun, 03 Nov 2024AU$475.9bAU$206.6bAU$20.7b12.4x23x2.3x
Tue, 01 Oct 2024AU$492.8bAU$199.6bAU$19.9b12.9x24.8x2.5x
Thu, 29 Aug 2024AU$440.7bAU$203.7bAU$19.7b12.9x22.4x2.2x
Sat, 27 Jul 2024AU$450.1bAU$210.4bAU$21.3b13.3x21.1x2.1x
Mon, 24 Jun 2024AU$466.2bAU$208.7bAU$20.8b13.3x22.4x2.2x
Wed, 22 May 2024AU$522.4bAU$209.3bAU$21.0b14.9x24.9x2.5x
Fri, 19 Apr 2024AU$502.2bAU$214.9bAU$21.9b13.3x23x2.3x
Sun, 17 Mar 2024AU$469.9bAU$213.4bAU$21.9b12.5x21.4x2.2x
Tue, 13 Feb 2024AU$497.5bAU$209.8bAU$31.6b11.6x15.8x2.4x
Thu, 11 Jan 2024AU$556.0bAU$220.6bAU$32.3b12.3x17.2x2.5x
Sat, 09 Dec 2023AU$547.4bAU$222.7bAU$32.7b11x16.7x2.5x
Mon, 06 Nov 2023AU$527.8bAU$224.9bAU$33.4b10.6x15.8x2.3x
Wed, 04 Oct 2023AU$522.4bAU$228.3bAU$34.2b9.7x15.3x2.3x
Fri, 01 Sep 2023AU$536.5bAU$225.9bAU$34.0b11.3x15.8x2.4x
Price to Earnings Ratio

15.8x


Total Market Cap: AU$536.5bTotal Earnings: AU$34.0bTotal Revenue: AU$225.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Metals and Mining Industry Price to Earnings3Y Average 23.2x202420252026
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 29.6x which is higher than its 3-year average PE of 23.2x.
  • The 3-year average PS ratio of 2.6x 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 8.6% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Australian Materials industry?

AU Market0.24%
Materials5.75%
Metals and Mining6.25%
Gold9.72%
Diversified Metals and Mining6.32%
Copper4.88%
Silver3.39%
Precious Metals and Minerals2.82%
Aluminum1.11%
Steel-0.47%
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 23.9%, 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 24% 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 34% 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$67.676.0%
+AU$19.6b		58.7%PE25x
PDI Predictive DiscoveryAU$4.48426.5%
+AU$17.9b		852.1%PB110x
EVN Evolution MiningAU$15.8816.3%
+AU$4.5b		90.4%PE21.9x
NST Northern Star ResourcesAU$24.549.2%
+AU$2.9b		31.9%PE21x
GMD Genesis MineralsAU$8.6718.3%
+AU$1.8b		102.1%PE16.9x

Latest News

EVN
AU$15.88
Evolution Mining
7D
16.3%
1Y
90.4%
BHP
AU$67.67
BHP Group
7D
6.0%
1Y
58.7%
IMD
AU$3.61
Imdex
7D
-3.7%
1Y
22.4%
NST
AU$24.54
Northern Star Resources
7D
9.2%
1Y
31.9%
GMD
AU$8.67
Genesis Minerals
7D
18.3%
1Y
102.1%
Narrative Update • Aug 21

GMD: Production Outlook And Higher Margins Will Support Measured Future Repricing

Analysts have lifted their price target on Genesis Minerals to A$8.60 from A$8.33, citing updated expectations for profit margins and valuation that align with recent Street research, including the A$7.80 target in the latest coverage reinstatement. What’s in the News for Genesis Minerals No recent company specific news items for Genesis Minerals are available from the referenced primary sources as of 20 Aug 2026.
ARU
AU$0.21
Arafura Rare Earths
7D
-4.5%
1Y
13.5%
New Narrative • Aug 21

Long-Term NdPr Demand And Policy Support Will Drive This Rare Earths Upside Narrative

Catalysts About Arafura Rare Earths Arafura Rare Earths is developing the Nolans rare earths project, targeting production of NdPr and other rare earth oxides for magnet and clean energy supply chains. What are the underlying business or industry changes driving this perspective?
DRR
AU$4.27
Deterra Royalties
7D
-1.8%
1Y
4.4%
BSL
AU$31.03
BlueScope Steel
7D
-1.5%
1Y
36.8%
SRL
AU$16.42
Sunrise Energy Metals
7D
-3.4%
1Y
780.4%
VAU
AU$6.95
Vault Minerals
7D
16.0%
1Y
105.6%
Narrative Update • Aug 15

Valuation Update (Latest)

This is a simplified free cash flow valuation model. It uses the latest annualised quarterly free cash flow figure shown in the Regis-Vault merger presentation.
S32
AU$5.13
South32
7D
6.4%
1Y
76.9%
Narrative Update • Aug 14

S32: Aluminium Exit To Alcoa Will Refocus Portfolio Toward Copper And Manganese

Analysts have trimmed their fair value estimate for South32 to A$5.79 from A$5.96, reflecting recent reductions in the A$ price target along with updated assumptions for revenue growth, profit margins and the future P/E multiple. Analyst Commentary on South32 Recent research commentary around South32 points to a generally constructive stance, even with the trim to fair value.
SFR
AU$22.78
Sandfire Resources
7D
9.3%
1Y
80.8%
Narrative Update • Aug 08

SFR: Recent Downgrade May Signal Limited Upside Despite Rich Earnings Multiple

Analysts lifted their fair value estimate for Sandfire Resources from about A$15.09 to roughly A$16.05, even as an unchanged A$20 Street price target and a recent downgrade to Sector Perform signal a view that upside from current levels may be limited. What's in the News for Sandfire Resources No recent company specific news items or key developments for Sandfire Resources were provided in the available sources as of 6 Aug 2026.
PDI
AU$4.48
Predictive Discovery
7D
426.5%
1Y
852.1%
Narrative Update • Aug 05

PDI: Future Production Guidance Will Support Bullish Outlook For Gold Output

Analysts have adjusted their view on Predictive Discovery, trimming the indicative fair value from about A$1.57 to roughly A$1.49 as they factor in updated assumptions on growth, margins and future P/E multiples. What's in the News Predictive Discovery released its Quarterly Activities Report for the period ended 30 June 2026, highlighting operational performance at the Kiniéro and Nampala gold mines and progress at the Bankan Gold Project.
IPX
AU$3.05
IperionX
7D
-7.0%
1Y
-56.5%
G6M
AU$3.20
Group 6 Metals
7D
-17.7%
1Y
n/a
BRE
AU$4.10
Brazilian Rare Earths
7D
-4.7%
1Y
96.2%