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Brazilian (BOVESPA) Metals and Mining Industry Analysis

UpdatedNov 22, 2025
DataAggregated Company Financials
Companies12
  • 7D-0.8%
  • 3M17.6%
  • 1Y6.3%
  • YTD15.4%

The Metals and Mining is pretty flat in the last 7 days, but Companhia Brasileira de Alumínio has stood out, gaining 4.4%. The past year has been better, since the industry has gained 6.3% in that time. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 23 Nov 2025R$385.5bR$456.2bR$33.7b11.6x11.5x0.8x
Tue, 21 Oct 2025R$362.6bR$450.2bR$34.4b11.2x10.6x0.8x
Thu, 18 Sep 2025R$341.2bR$450.2bR$34.4b10.4x9.9x0.8x
Sat, 16 Aug 2025R$314.5bR$450.2bR$34.4b9.5x9.2x0.7x
Mon, 14 Jul 2025R$332.8bR$450.4bR$36.8b7.7x9x0.7x
Wed, 11 Jun 2025R$325.4bR$450.3bR$36.8b7.7x8.8x0.7x
Fri, 09 May 2025R$329.6bR$448.0bR$39.5b7.4x8.4x0.7x
Sun, 06 Apr 2025R$325.3bR$439.5bR$41.0b6.7x7.9x0.7x
Tue, 04 Mar 2025R$338.0bR$440.0bR$42.1b7.2x8x0.8x
Thu, 30 Jan 2025R$330.3bR$440.8bR$57.9b7.3x5.7x0.7x
Sat, 28 Dec 2024R$343.6bR$440.8bR$57.9b7.1x5.9x0.8x
Mon, 25 Nov 2024R$359.4bR$440.8bR$56.1b7.4x6.4x0.8x
Wed, 23 Oct 2024R$376.9bR$439.5bR$61.1b6.6x6.2x0.9x
Fri, 20 Sep 2024R$370.7bR$439.5bR$61.1b7x6.1x0.8x
Sun, 18 Aug 2024R$342.8bR$439.5bR$58.0b6.6x5.9x0.8x
Tue, 16 Jul 2024R$391.1bR$437.1bR$52.6b6.6x7.4x0.9x
Thu, 13 Jun 2024R$374.4bR$438.9bR$52.6b6.6x7.1x0.9x
Sat, 11 May 2024R$396.9bR$440.2bR$53.1b7.1x7.5x0.9x
Mon, 08 Apr 2024R$381.4bR$450.3bR$56.1b5.9x6.8x0.8x
Wed, 06 Mar 2024R$418.6bR$448.1bR$55.9b6.9x7.5x0.9x
Fri, 02 Feb 2024R$424.1bR$453.7bR$62.4b6.2x6.8x0.9x
Sun, 31 Dec 2023R$482.3bR$452.1bR$62.4b6.2x7.7x1.1x
Tue, 28 Nov 2023R$449.4bR$454.1bR$62.9b6x7.1x1x
Thu, 26 Oct 2023R$388.9bR$462.1bR$75.3b5.3x5.2x0.8x
Sat, 23 Sep 2023R$415.1bR$462.1bR$75.3b5.6x5.5x0.9x
Mon, 21 Aug 2023R$384.8bR$467.2bR$76.7b5.3x5x0.8x
Wed, 19 Jul 2023R$425.0bR$479.8bR$96.3b4.3x4.4x0.9x
Fri, 16 Jun 2023R$431.7bR$479.9bR$96.3b4.3x4.5x0.9x
Sun, 14 May 2023R$421.3bR$481.4bR$96.5b4.2x4.4x0.9x
Tue, 11 Apr 2023R$478.4bR$496.5bR$113.2b4.2x4.2x1x
Thu, 09 Mar 2023R$525.0bR$495.1bR$116.8b4.2x4.5x1.1x
Sat, 04 Feb 2023R$551.5bR$513.2bR$134.2b4.1x4.1x1.1x
Mon, 02 Jan 2023R$537.8bR$513.2bR$134.2b3.8x4x1x
Wed, 30 Nov 2022R$496.4bR$513.2bR$134.3b3.9x3.7x1x
Price to Earnings Ratio

3.7x


Total Market Cap: R$496.4bTotal Earnings: R$134.3bTotal Revenue: R$513.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Brazilian Metals and Mining Industry Price to Earnings3Y Average 6.7x202320242025
Current Industry PE
  • Investors are optimistic on the Brazilian Metals and Mining industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 11.4x which is higher than its 3-year average PE of 6.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.87x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 37% per year over the last three years,
  • Revenues have also declined 3.8% 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 Brazilian Materials industry?

BR Market-1.98%
Materials-0.68%
Metals and Mining-0.85%
Aluminum4.43%
Copper0%0
Steel-0.89%
Industry PE
  • Investors are most optimistic about the Aluminum industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 24.0% and investors are willing to pay a premium for that growth.
  • Investors are most pessimistic about the Steel industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 6.6x.
Forecasted Growth
  • Analysts are most optimistic on the Aluminum industry, expecting annual earnings growth of 24% over the next 5 years.
  • In contrast, the Steel industry is expected to see its earnings grow by 12% 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
CBAV3 Companhia Brasileira de AlumínioR$4.954.4%
+R$136.7m		-20.5%PE13.8x
BRAP3 BradesparR$16.501.9%
+R$121.9m		-1.0%PE5.7x

Latest News

CSNA3
R$8.10
Companhia Siderúrgica Nacional
7D
-6.4%
1Y
-27.1%
CBAV3
R$4.95
Companhia Brasileira de Alumínio
7D
4.4%
1Y
-20.5%

We Think That There Are Issues Underlying Companhia Brasileira de Alumínio's (BVMF:CBAV3) Earnings

Nov 15
We Think That There Are Issues Underlying Companhia Brasileira de Alumínio's (BVMF:CBAV3) Earnings
VALE3
R$65.16
Vale
7D
-0.2%
1Y
12.0%

VALE3: Revenue Momentum And Base Metals Performance Will Offset Market Caution

Analysts have modestly increased their price target for Vale, raising it by $0.76. This adjustment reflects stronger revenue growth forecasts and improved performance in the Base Metals segment.
CMIN3
R$5.59
CSN Mineração
7D
-4.4%
1Y
7.7%

CMIN3: Rising Discount Rate And Weak Margins Will Pressure Future Returns

Analysts have slightly lowered their price target for CSN Mineração from $5.42 to $5.39, citing reduced profit margin expectations and softer revenue growth forecasts as key factors in the adjustment. Valuation Changes Fair Value Estimate: Revised downward marginally from R$5.42 to R$5.39.
PMAM3
R$0.83
Paranapanema
7D
-12.6%
1Y
-17.8%

Paranapanema S.A.'s (BVMF:PMAM3) 32% Share Price Plunge Could Signal Some Risk

Oct 16
Paranapanema S.A.'s (BVMF:PMAM3) 32% Share Price Plunge Could Signal Some Risk
BRAP3
R$16.50
Bradespar
7D
1.9%
1Y
-1.0%