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Canadian (TSX) Materials Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies1210
  • 7D-3.6%
  • 3M27.6%
  • 1Y119.1%
  • YTD21.0%

Over the last 7 days, the Materials industry has dropped 3.6%, driven by Barrick Mining declining 6.3%. Over the past 12 months, the industry was up 119%. Earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

Has the Canadian Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026CA$1.2tCA$220.1bCA$27.8b19.2x41.9x5.3x
Sat, 31 Jan 2026CA$1.2tCA$209.4bCA$20.6b22.2x56.8x5.6x
Mon, 29 Dec 2025CA$985.2bCA$209.5bCA$20.7b20.7x47.6x4.7x
Wed, 26 Nov 2025CA$857.6bCA$213.9bCA$22.1b18.4x38.8x4x
Fri, 24 Oct 2025CA$791.8bCA$202.6bCA$15.9b19.7x49.9x3.9x
Sun, 21 Sep 2025CA$774.8bCA$201.2bCA$14.7b19x52.8x3.9x
Tue, 19 Aug 2025CA$656.8bCA$201.9bCA$14.8b15.9x44.4x3.3x
Thu, 17 Jul 2025CA$610.6bCA$193.1bCA$9.8b15.8x62.4x3.2x
Sat, 14 Jun 2025CA$600.9bCA$193.0bCA$9.8b16x61.3x3.1x
Mon, 12 May 2025CA$569.6bCA$195.6bCA$10.2b13.4x56.1x2.9x
Wed, 09 Apr 2025CA$480.7bCA$193.0bCA$7.0b11.9x68.9x2.5x
Fri, 07 Mar 2025CA$516.6bCA$192.9bCA$5.7b13.6x90x2.7x
Sun, 02 Feb 2025CA$503.1bCA$200.8bCA$1.7b13.2x296.8x2.5x
Tue, 31 Dec 2024CA$471.1bCA$198.9bCA$1.5b13.1x319.5x2.4x
Thu, 28 Nov 2024CA$490.5bCA$195.5bCA$1.3b14.1x384.6x2.5x
Sat, 26 Oct 2024CA$531.7bCA$193.2bCA$585.3m17.1x908.4x2.8x
Mon, 23 Sep 2024CA$498.2bCA$190.5bCA$1.1b17x446.9x2.6x
Wed, 21 Aug 2024CA$484.7bCA$191.0bCA$1.1b15.5x450.9x2.5x
Fri, 19 Jul 2024CA$489.2bCA$191.7bCA$1.5b16.3x327.2x2.6x
Sun, 16 Jun 2024CA$450.1bCA$192.4bCA$993.6m16.6x453x2.3x
Tue, 14 May 2024CA$471.5bCA$191.6bCA$1.1b16x412.7x2.5x
Thu, 11 Apr 2024CA$457.5bCA$191.4bCA$3.5b18.1x129x2.4x
Sat, 09 Mar 2024CA$399.7bCA$190.1bCA$3.4b15.4x117.7x2.1x
Mon, 05 Feb 2024CA$407.3bCA$199.9bCA$5.3b13.1x76.6x2x
Wed, 03 Jan 2024CA$425.9bCA$198.7bCA$5.3b13.9x80.7x2.1x
Fri, 01 Dec 2023CA$419.2bCA$201.0bCA$5.4b13x77.9x2.1x
Sun, 29 Oct 2023CA$424.4bCA$205.7bCA$7.2b11.3x58.6x2.1x
Tue, 26 Sep 2023CA$430.5bCA$202.4bCA$7.4b10.8x58x2.1x
Thu, 24 Aug 2023CA$443.4bCA$202.2bCA$7.3b11.6x61x2.2x
Sat, 22 Jul 2023CA$460.7bCA$207.6bCA$14.5b11.8x31.8x2.2x
Mon, 19 Jun 2023CA$450.6bCA$207.4bCA$14.4b11.8x31.3x2.2x
Wed, 17 May 2023CA$474.6bCA$210.4bCA$15.0b11.9x31.6x2.3x
Fri, 14 Apr 2023CA$502.1bCA$216.4bCA$21.2b12x23.6x2.3x
Sun, 12 Mar 2023CA$436.9bCA$222.2bCA$24.4b10.6x17.9x2x
Price to Earnings Ratio

17.9x


Total Market Cap: CA$436.9bTotal Earnings: CA$24.4bTotal Revenue: CA$222.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Materials Sector Price to Earnings3Y Average 258.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Materials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 41.9x which is lower than its 3-year average PE of 259x.
  • The industry is trading close to its 3-year average PS ratio of 5.2x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have grown 4.5% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Canadian Materials sector?

CA Market-0.89%
Materials-3.65%
Chemicals3.07%
Packaging1.88%
Basic Materials1.85%
Paper and Forestry Products-0.087%
Metals and Mining-4.19%
Industry PE
  • Investors are most optimistic about the Metals and Mining industry even though it's trading below its 3-year average PE ratio of 289x.
    • Analysts are expecting annual earnings growth of 24.5%, which is lower than the prior year's growth of 85.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Basic Materials industry, expecting annual earnings growth of 48% over the next 5 years.
  • However this is lower than its past earnings growth rate of 62% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 4.0% 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
AGI Alamos GoldCA$70.943.7%
+CA$1.1b		103.0%PE24.6x
AII Almonty IndustriesCA$26.6216.4%
+CA$1.0b		864.5%PS247x
HG HydroGraph Clean PowerCA$7.9250.3%
+CA$904.2m		2,300.0%PS31679x
SSRM SSR MiningCA$45.328.7%
+CA$736.0m		202.9%PE17.1x
NTR NutrienCA$100.441.3%
+CA$539.3m		40.3%PE15.6x

Latest News

FNV
CA$357.63
Franco-Nevada
7D
-5.0%
1Y
70.7%
HG
CA$7.92
HydroGraph Clean Power
7D
50.3%
1Y
2,300.0%
CCL.B
CA$91.73
CCL Industries
7D
3.1%
1Y
28.3%
WPM
CA$210.00
Wheaton Precious Metals
7D
-2.4%
1Y
106.3%

WPM: Long Term Metal Price Assumptions Will Restrain Upside Potential

The analyst price target for Wheaton Precious Metals has been revised slightly higher to CA$188. Analysts linked their updated views to refreshed 2026 metal price forecasts and company guidance that was broadly in line with expectations.
TECK.B
CA$75.78
Teck Resources
7D
-9.8%
1Y
27.1%

TECK.B: Elevated Expectations Will Depend On Merger Execution Risk

The analyst price target for Teck Resources in our model has been raised from CA$45.79 to CA$57.90, as analysts factor in updated assumptions around potential merger synergies, revised operating numbers, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research on Teck Resources has featured a series of price target revisions and rating changes that give you a mixed picture.
HBM
CA$33.83
Hudbay Minerals
7D
-10.7%
1Y
216.8%
K
CA$46.38
Kinross Gold
7D
-5.9%
1Y
182.5%
LUN
CA$39.19
Lundin Mining
7D
-8.7%
1Y
224.2%
HSLV
CA$10.32
Highlander Silver
7D
6.3%
1Y
473.3%
ABX
CA$63.85
Barrick Mining
7D
-6.3%
1Y
141.1%
AGI
CA$70.94
Alamos Gold
7D
3.7%
1Y
103.0%
NTR
CA$100.44
Nutrien
7D
1.3%
1Y
40.3%
FM
CA$37.78
First Quantum Minerals
7D
-7.7%
1Y
104.1%
SSRM
CA$45.32
SSR Mining
7D
8.7%
1Y
202.9%

SSRM: China Demand Weakness And Execution Risks Will Limit Upside Potential

The analyst price target for SSR Mining has increased slightly to CA$30.51 from CA$29.77, as analysts factor in more conservative assumptions for revenue growth and profit margins, along with Street research that incorporates recent guidance, buyback activity and updated commodity price forecasts. Analyst Commentary Recent Street research on SSR Mining has not moved in just one direction.
MX
CA$72.84
Methanex
7D
9.9%
1Y
22.6%
AII
CA$26.62
Almonty Industries
7D
16.4%
1Y
864.5%