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Canadian (TSX) Materials Sector Analysis

UpdatedSep 15, 2025
DataAggregated Company Financials
Companies1218
  • 7D2.9%
  • 3M24.2%
  • 1Y53.9%
  • YTD55.7%

In the last week, the Materials industry is up 3.8%, with Teck Resources up 22%. Meanwhile, Lundin Gold actually underperformed within the industry, shrinking 6.0% in the last week. This takes the industry's 12 month performance to a gain of 54%. Looking forward, earnings are forecast to grow by 22% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Sep 2025CA$759.1bCA$202.5bCA$14.6b18.3x51.9x3.7x
Wed, 13 Aug 2025CA$642.1bCA$199.3bCA$14.9b16.2x43x3.2x
Fri, 11 Jul 2025CA$607.0bCA$192.9bCA$9.8b15.7x62.2x3.1x
Sun, 08 Jun 2025CA$597.8bCA$194.2bCA$10.1b15.4x59.2x3.1x
Tue, 06 May 2025CA$539.8bCA$190.7bCA$8.0b12.9x67.2x2.8x
Thu, 03 Apr 2025CA$538.6bCA$193.7bCA$7.0b13.4x77x2.8x
Sat, 01 Mar 2025CA$504.8bCA$194.0bCA$5.0b12.1x101.9x2.6x
Mon, 27 Jan 2025CA$499.5bCA$198.8bCA$1.6b14.6x303.1x2.5x
Wed, 25 Dec 2024CA$471.8bCA$199.2bCA$1.5b12.9x319.1x2.4x
Fri, 22 Nov 2024CA$492.1bCA$194.9bCA$1.3b13.9x387.7x2.5x
Sun, 20 Oct 2024CA$532.3bCA$192.7bCA$1.5b18.1x358.6x2.8x
Tue, 17 Sep 2024CA$491.2bCA$190.7bCA$1.1b16.7x440.6x2.6x
Thu, 15 Aug 2024CA$463.6bCA$191.7bCA$1.1b16.7x426x2.4x
Sat, 13 Jul 2024CA$484.9bCA$191.5bCA$1.1b16.1x445.8x2.5x
Mon, 10 Jun 2024CA$459.3bCA$192.7bCA$995.0m17x461.6x2.4x
Wed, 08 May 2024CA$465.5bCA$192.4bCA$2.1b18.4x218.1x2.4x
Fri, 05 Apr 2024CA$443.7bCA$190.1bCA$3.5b17.7x126.4x2.3x
Sun, 03 Mar 2024CA$382.3bCA$190.8bCA$4.6b14.4x83.9x2x
Tue, 30 Jan 2024CA$409.5bCA$199.5bCA$5.3b12.9x77.4x2.1x
Thu, 28 Dec 2023CA$433.9bCA$197.4bCA$5.2b13.9x83.5x2.2x
Sat, 25 Nov 2023CA$410.9bCA$201.7bCA$5.4b11.8x76.6x2x
Mon, 23 Oct 2023CA$429.3bCA$204.9bCA$7.5b11x57.6x2.1x
Wed, 20 Sep 2023CA$442.1bCA$201.4bCA$7.5b11.3x59.1x2.2x
Fri, 18 Aug 2023CA$432.4bCA$202.1bCA$7.3b11.1x59.1x2.1x
Sun, 16 Jul 2023CA$460.5bCA$207.6bCA$14.5b10.8x31.8x2.2x
Tue, 13 Jun 2023CA$450.0bCA$209.0bCA$14.6b11.8x30.8x2.2x
Thu, 11 May 2023CA$489.6bCA$211.6bCA$16.7b12.7x29.2x2.3x
Sat, 08 Apr 2023CA$481.2bCA$218.4bCA$21.4b11.8x22.5x2.2x
Mon, 06 Mar 2023CA$463.7bCA$219.8bCA$24.4b11.4x19x2.1x
Wed, 01 Feb 2023CA$479.8bCA$223.0bCA$29.0b11.8x16.5x2.2x
Fri, 30 Dec 2022CA$434.7bCA$225.7bCA$29.4b10.3x14.8x1.9x
Sun, 27 Nov 2022CA$433.0bCA$223.4bCA$29.1b9.9x14.9x1.9x
Tue, 25 Oct 2022CA$405.9bCA$224.8bCA$33.2b8x12.2x1.8x
Thu, 22 Sep 2022CA$403.2bCA$221.0bCA$32.5b9x12.4x1.8x
Price to Earnings Ratio

12.4x


Total Market Cap: CA$403.2bTotal Earnings: CA$32.5bTotal Revenue: CA$221.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Materials Sector Price to Earnings3Y Average 253.4x202320242025
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 51.9x which is lower than its 3-year average PE of 253x.
  • The 3-year average PS ratio of 4.8x is higher than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 23% per year over the last three years,
  • Revenues have also declined 2.9% 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 Canadian Materials sector?

CA Market1.06%
Materials2.86%
Metals and Mining3.29%
Chemicals-0.23%
Paper and Forestry Products-0.69%
Packaging-1.07%
Basic Materials-2.32%
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 285x.
    • Analysts are expecting annual earnings growth of 22.8%, which is lower than the prior year's growth of 27.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Basic Materials industry, expecting annual earnings growth of 77% over the next 5 years.
  • This is better than its past earnings decline of 28% per year.
  • In contrast, the Packaging industry is expected to see its earnings grow by 3.7% 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
TECK.B Teck ResourcesCA$57.9919.6%
+CA$4.6b		-9.3%PE136.3x
FM First Quantum MineralsCA$26.326.6%
+CA$1.3b		56.9%PE77.9x
CGG China Gold International ResourcesCA$24.7515.9%
+CA$1.3b		363.5%PE24.1x
K Kinross GoldCA$32.223.4%
+CA$1.3b		150.5%PE18.5x
FNV Franco-NevadaCA$277.781.9%
+CA$1.0b		63.6%PE49.2x

Latest News

LUG
CA$88.14
Lundin Gold
7D
-6.6%
1Y
199.5%
FNV
CA$277.78
Franco-Nevada
7D
1.9%
1Y
63.6%
IMG
CA$15.46
IAMGOLD
7D
11.0%
1Y
108.6%
CGG
CA$24.75
China Gold International Resources
7D
15.9%
1Y
363.5%
TECK.B
CA$57.99
Teck Resources
7D
19.6%
1Y
-9.3%

Rising Copper Production And ESG Focus Will Create Opportunities

The consensus analyst price target for Teck Resources has increased to CA$59.61, primarily reflecting optimism over its transformative merger with Anglo American and improved copper exposure, despite some concerns about operational issues, integration risks, and valuation. Analyst Commentary The merger of equals between Teck Resources and Anglo American is viewed as transformative, creating the world’s fifth-largest copper producer and potentially catalyzing further consolidation across the global mining sector.
NTR
CA$78.88
Nutrien
7D
-0.4%
1Y
24.6%
K
CA$32.22
Kinross Gold
7D
3.4%
1Y
150.5%
ASE
CA$1.54
Asante Gold
7D
-6.7%
1Y
4.1%
TCL.A
CA$19.89
Transcontinental
7D
-3.4%
1Y
19.4%
CCL.B
CA$80.04
CCL Industries
7D
-1.1%
1Y
-1.8%
AG
CA$14.59
First Majestic Silver
7D
11.7%
1Y
74.1%

Exploration At Navidad And Santo Niño Will Uplift Silver Prospects

The consensus price target for First Majestic Silver has risen to CA$14.75, primarily reflecting a much higher future P/E ratio, which suggests increased optimism about the company’s growth prospects despite steady discount rates. What's in the News Positive drilling results at San Dimas confirmed and expanded mineralization, upgrading Inferred to Indicated Mineral Resources and identifying new high-grade targets, including the unexplored Coronado vein.
PPTA
CA$23.99
Perpetua Resources
7D
-3.9%
1Y
97.0%
EQX
CA$14.71
Equinox Gold
7D
8.2%
1Y
71.6%

Greenstone And Valentine Ramp-Ups Will Drive Enduring Potential

The consensus analyst price target for Equinox Gold has been modestly raised to CA$12.73, reflecting improved free cash flow prospects and increased scale following the Calibre Mining acquisition, though execution and sector risks temper optimism. Analyst Commentary Acquisition of Calibre Mining has positioned Equinox Gold as a major gold producer, anchored by significant assets such as the Greenstone and Valentine mines in Canada.
VNP
CA$14.95
5N Plus
7D
-5.1%
1Y
106.8%
LAR
CA$4.17
Lithium Argentina
7D
-8.6%
1Y
21.2%
FM
CA$26.32
First Quantum Minerals
7D
6.6%
1Y
56.9%