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Australian (ASX) Metals and Mining Industry Analysis

UpdatedAug 30, 2026
DataAggregated Company Financials
Companies688
  • 7D2.7%
  • 3M4.3%
  • 1Y46.9%
  • YTD20.9%

The Metals and Mining industry is up 2.7% in the last week, with BHP Group up 3.3%. In the same time, Greatland Resources was down 6.2%. This takes the industry's 12 month performance to a gain of 47%. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 30 Aug 2026AU$768.6bAU$219.5bAU$29.4b13x26.1x3.5x
Tue, 28 Jul 2026AU$671.1bAU$206.1bAU$25.9b11.1x26x3.3x
Thu, 25 Jun 2026AU$693.6bAU$208.2bAU$26.2b11.8x26.5x3.3x
Sat, 23 May 2026AU$709.1bAU$203.8bAU$25.4b12.6x27.9x3.5x
Mon, 20 Apr 2026AU$707.9bAU$202.7bAU$25.5b12.9x27.8x3.5x
Wed, 18 Mar 2026AU$640.1bAU$203.3bAU$25.9b14.2x24.8x3.1x
Fri, 13 Feb 2026AU$696.2bAU$190.8bAU$18.7b24.9x37.2x3.6x
Sun, 11 Jan 2026AU$653.2bAU$197.2bAU$19.1b24.5x34.2x3.3x
Tue, 09 Dec 2025AU$593.4bAU$198.8bAU$19.0b21.8x31.2x3x
Thu, 06 Nov 2025AU$546.9bAU$202.0bAU$19.5b19.9x28x2.7x
Sat, 04 Oct 2025AU$556.6bAU$200.0bAU$19.1b21.8x29.2x2.8x
Mon, 01 Sep 2025AU$514.9bAU$201.6bAU$19.4b15.4x26.6x2.6x
Wed, 30 Jul 2025AU$469.6bAU$204.7bAU$21.6b12.9x21.7x2.3x
Fri, 27 Jun 2025AU$430.3bAU$204.1bAU$21.6b12.7x20x2.1x
Sun, 25 May 2025AU$445.2bAU$205.0bAU$21.7b12.4x20.5x2.2x
Tue, 22 Apr 2025AU$422.1bAU$206.7bAU$22.0b11.8x19.2x2x
Thu, 20 Mar 2025AU$436.2bAU$208.7bAU$22.2b11.6x19.6x2.1x
Sat, 15 Feb 2025AU$460.9bAU$213.4bAU$22.3b13.5x20.6x2.2x
Mon, 13 Jan 2025AU$441.6bAU$215.8bAU$21.9b12x20.2x2x
Wed, 11 Dec 2024AU$467.2bAU$209.9bAU$21.0b12.6x22.2x2.2x
Fri, 08 Nov 2024AU$471.0bAU$204.9bAU$20.5b12.2x23x2.3x
Sun, 06 Oct 2024AU$478.4bAU$201.6bAU$20.0b11.9x23.9x2.4x
Tue, 03 Sep 2024AU$434.9bAU$202.5bAU$19.6b12.9x22.2x2.1x
Thu, 01 Aug 2024AU$453.0bAU$211.8bAU$21.2b13.5x21.4x2.1x
Sat, 29 Jun 2024AU$461.9bAU$208.3bAU$20.7b13.5x22.3x2.2x
Mon, 27 May 2024AU$508.1bAU$210.2bAU$21.1b15x24.1x2.4x
Wed, 24 Apr 2024AU$499.7bAU$214.3bAU$21.8b12.8x22.9x2.3x
Fri, 22 Mar 2024AU$487.0bAU$212.4bAU$21.5b12.4x22.6x2.3x
Sun, 18 Feb 2024AU$498.5bAU$208.9bAU$30.5b11.8x16.3x2.4x
Tue, 16 Jan 2024AU$551.8bAU$221.5bAU$32.5b11.8x17x2.5x
Thu, 14 Dec 2023AU$545.0bAU$223.8bAU$33.0b10.4x16.5x2.4x
Sat, 11 Nov 2023AU$524.2bAU$228.4bAU$33.9b10.3x15.5x2.3x
Mon, 09 Oct 2023AU$511.8bAU$227.7bAU$33.9b9.8x15.1x2.2x
Wed, 06 Sep 2023AU$538.5bAU$228.3bAU$34.5b12.5x15.6x2.4x
Price to Earnings Ratio

15.6x


Total Market Cap: AU$538.5bTotal Earnings: AU$34.5bTotal Revenue: AU$228.3bTotal 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 26.1x 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 3.5x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 5.1% 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 Market0.22%
Materials2.47%
Metals and Mining2.74%
Precious Metals and Minerals7.38%
Copper6.85%
Silver4.53%
Diversified Metals and Mining2.98%
Gold2.28%
Steel1.57%
Aluminum-2.38%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry, which is trading close to its 3-year average PE ratio of 29.1x.
    • Analysts are expecting annual earnings growth of 12.0%, which is lower than the prior year's growth of 31.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Gold industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 92% 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$67.303.3%
+AU$10.9b		55.8%PE24.9x
S32 South32AU$5.257.4%
+AU$1.6b		93.0%PE15.9x
NST Northern Star ResourcesAU$24.783.4%
+AU$1.2b		31.2%PE21.2x
FMG FortescueAU$18.071.8%
+AU$984.1m		-6.4%PE13.9x
PLS PLS GroupAU$5.365.7%
+AU$935.2m		118.8%PE32.9x

Latest News

S32
AU$5.25
South32
7D
7.4%
1Y
93.0%
MIN
AU$65.46
Mineral Resources
7D
-1.3%
1Y
75.0%
PRU
AU$6.73
Perseus Mining
7D
10.1%
1Y
78.0%
Analysis Article • Aug 28

Perseus Mining Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

It's been a pretty great week for Perseus Mining Limited ( ASX:PRU ) shareholders, with its shares surging 10% to...
ELV
AU$8.30
Elevra Lithium
7D
-8.6%
1Y
112.8%
GGP
AU$12.66
Greatland Resources
7D
-6.2%
1Y
129.3%
FMG
AU$18.07
Fortescue
7D
1.8%
1Y
-6.4%
BHP
AU$67.30
BHP Group
7D
3.3%
1Y
55.8%
MAH
AU$0.98
Macmahon Holdings
7D
-4.8%
1Y
126.4%
CMM
AU$17.23
Capricorn Metals
7D
-1.5%
1Y
68.4%
SFR
AU$23.34
Sandfire Resources
7D
7.8%
1Y
86.4%
Narrative Update • Aug 26

SFR: Recent Downgrades Will Likely Cap Further Upside Near Term

Analysts have reset their fair value estimate for Sandfire Resources from A$16.05 to A$19.20. This reflects recent price target moves and comments that consistent operational delivery and a copper supportive macro backdrop are now largely captured in the stock, with limited further upside identified at current levels.
PRN
AU$2.29
Perenti
7D
-6.1%
1Y
-3.0%
PLS
AU$5.36
PLS Group
7D
5.7%
1Y
118.8%
Narrative Update • Aug 26

PLS: Expansion Plans And Policy Engagement Will Test Moderating Future P/E

Analysts have reduced their price target for PLS Group to A$5.20 from A$5.51, reflecting updated views on revenue growth assumptions, profit margins and a lower future P/E multiple. What’s in the News for PLS Group PLS Group has awarded TOMRA Mining a contract to supply 22 X-ray transmission ore sorters for the proposed P2000 expansion at the Pilgangoora lithium operation in Western Australia.
NST
AU$24.78
Northern Star Resources
7D
3.4%
1Y
31.2%
Narrative Update • Aug 25

NST: Activist Pressure And Leadership Shift Are Expected To Unlock Future Upside

Analysts have trimmed their A$ fair value estimate for Northern Star Resources from about A$35.00 to roughly A$32.79, reflecting updated assumptions around revenue growth, profit margins and the stock’s future P/E multiple. What’s in the News for Northern Star Resources Elliott Investment Management, with about a 5.6% stake in Northern Star Resources, has publicly called for a substantial board overhaul and a full strategic and operational review to address what it describes as governance and execution issues.
EVN
AU$15.67
Evolution Mining
7D
2.1%
1Y
80.9%
DRR
AU$4.14
Deterra Royalties
7D
-5.3%
1Y
-1.2%
LTR
AU$1.20
Liontown
7D
-5.9%
1Y
27.1%
Narrative Update • Aug 14

LTR: Index Inclusion Will Support Future Re Rating Potential

Analysts have trimmed their fair value estimate for Liontown to A$1.49 from A$1.58, reflecting slightly higher discount rate assumptions, a modestly lower revenue growth outlook, and a somewhat stronger projected profit margin on a lower future P/E multiple. What’s in the News for Liontown Liontown Limited (ASX:LTR) has been added to the S&P/ASX 100 Index, reflecting its inclusion in a larger capitalization benchmark.