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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedAug 05, 2026
DataAggregated Company Financials
Companies1192
  • 7D5.1%
  • 3M-8.4%
  • 1Y56.6%
  • YTD-1.1%

Over the last 7 days, the Metals and Mining industry has dropped 2.9%, driven by Almonty Industries declining 9.9%. In contrast, Teck Resources has gained 10.0%. Over the past 12 months, the industry was up 56%. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 05 Aug 2026CA$815.8bCA$163.4bCA$37.6b14.3x21.7x5x
Fri, 03 Jul 2026CA$849.2bCA$161.3bCA$36.2b14.5x23.4x5.3x
Sun, 31 May 2026CA$974.0bCA$157.2bCA$35.1b16.5x27.7x6.2x
Tue, 28 Apr 2026CA$960.4bCA$138.0bCA$27.1b18.3x35.4x7x
Thu, 26 Mar 2026CA$855.1bCA$138.1bCA$26.0b16.4x32.9x6.2x
Sat, 21 Feb 2026CA$1.0tCA$134.3bCA$23.2b22.7x44.7x7.7x
Mon, 19 Jan 2026CA$987.5bCA$126.9bCA$17.7b24.6x55.7x7.8x
Wed, 17 Dec 2025CA$847.7bCA$125.7bCA$17.5b21.2x48.5x6.7x
Fri, 14 Nov 2025CA$774.0bCA$125.8bCA$18.2b20.5x42.5x6.2x
Sun, 12 Oct 2025CA$747.4bCA$117.9bCA$12.3b24x60.9x6.3x
Tue, 09 Sep 2025CA$648.8bCA$118.1bCA$12.0b20x54.1x5.5x
Thu, 07 Aug 2025CA$546.1bCA$112.5bCA$10.1b18.8x54.1x4.9x
Sat, 05 Jul 2025CA$528.6bCA$109.1bCA$8.1b16.8x65.3x4.8x
Mon, 02 Jun 2025CA$488.9bCA$110.8bCA$8.6b14.8x56.7x4.4x
Wed, 30 Apr 2025CA$473.0bCA$105.4bCA$5.9b13.3x80.6x4.5x
Fri, 28 Mar 2025CA$464.2bCA$107.2bCA$5.1b14.6x90.8x4.3x
Sun, 23 Feb 2025CA$426.8bCA$105.3bCA$3.1b12.2x138.6x4.1x
Tue, 21 Jan 2025CA$407.8bCA$111.5bCA$676.3m13.6x603x3.7x
Thu, 19 Dec 2024CA$401.0bCA$112.2bCA$489.5m13.1x819.2x3.6x
Sat, 16 Nov 2024CA$396.3bCA$109.7bCA$404.5m13x979.6x3.6x
Mon, 14 Oct 2024CA$430.7bCA$106.5b-CA$379,954,524.1617.8x-1133.6x4x
Wed, 11 Sep 2024CA$377.1bCA$105.9b-CA$691,127,774.8615.2x-545.6x3.6x
Fri, 09 Aug 2024CA$359.1bCA$105.3b-CA$189,382,488.3814.3x-1896.4x3.4x
Sun, 07 Jul 2024CA$394.0bCA$104.5b-CA$548,683,440.1715.7x-718x3.8x
Tue, 04 Jun 2024CA$396.2bCA$104.5b-CA$855,183,192.1617x-463.3x3.8x
Thu, 02 May 2024CA$373.1bCA$103.4b-CA$70,872,264.3517x-5264.4x3.6x
Sat, 30 Mar 2024CA$345.9bCA$102.4bCA$1.8b13.9x188x3.4x
Mon, 26 Feb 2024CA$296.2bCA$102.1bCA$3.0b13.9x99.3x2.9x
Wed, 24 Jan 2024CA$324.1bCA$107.6bCA$1.8b13.3x185x3x
Fri, 22 Dec 2023CA$343.1bCA$106.5bCA$1.7b13.7x201.3x3.2x
Sun, 19 Nov 2023CA$327.8bCA$109.0bCA$1.7b12.3x192.5x3x
Tue, 17 Oct 2023CA$346.8bCA$105.6bCA$1.5b11.4x223.8x3.3x
Thu, 14 Sep 2023CA$355.2bCA$104.3bCA$1.7b11.2x205.5x3.4x
Sat, 12 Aug 2023CA$366.8bCA$104.0bCA$1.4b11x257.6x3.5x
Price to Earnings Ratio

257.6x


Total Market Cap: CA$366.8bTotal Earnings: CA$1.4bTotal Revenue: CA$104.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 274.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Metals and Mining 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 21.7x which is lower than its 3-year average PE of 275x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 5.0x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 198% per year over the last three years.
  • Revenues for these companies have grown 16% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market0.73%
Materials4.37%
Metals and Mining5.12%
Copper10.42%
Silver8.36%
Diversified Metals and Mining6.46%
Precious Metals and Minerals5.32%
Gold3.78%
Steel0.039%
Aluminum0%0
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 136x.
    • Analysts are expecting annual earnings growth of 8.5%, which is lower than the prior year's growth of 87.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Steel industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 33% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 8.5% 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$91.0210.0%
+CA$4.0b		102.8%PE17.9x
FM First Quantum MineralsCA$42.1212.3%
+CA$3.8b		80.5%PS4.3x
WPM Wheaton Precious MetalsCA$162.425.1%
+CA$3.6b		20.3%PE29.1x
ABX Barrick MiningCA$53.743.6%
+CA$3.2b		73.0%PE10.5x
LUN Lundin MiningCA$37.708.6%
+CA$2.5b		161.6%PE19.2x

Latest News

ETG
CA$2.44
Entrée Resources
7D
-9.6%
1Y
12.4%
K
CA$33.18
Kinross Gold
7D
-0.09%
1Y
32.6%
ELD
CA$44.73
Eldorado Gold
7D
-1.5%
1Y
41.2%
Narrative Update • Aug 03

ELD: Future Returns Will Rely On Projects Ramping As Leadership Changes Proceed

Analysts have trimmed their CA$ price target on Eldorado Gold, reflecting updated assumptions that include a lower fair value estimate, a slightly higher discount rate, more moderate expectations for revenue growth and a reduced future P/E multiple, partly offset by stronger profit margin expectations. What's in the News for Eldorado Gold Exyn Technologies reported that its Exyn Nexys autonomous mapping solution at Eldorado Gold's Tüprag mine in Turkey reduced underground survey times from 40 minutes to 5 minutes and expanded mapping coverage by 300%, helping access previously unreachable mineral resources.
CGG
CA$33.29
China Gold International Resources
7D
9.6%
1Y
175.4%
AAUC
CA$26.37
Allied Gold
7D
-10.6%
1Y
42.2%
AGI
CA$40.42
Alamos Gold
7D
-0.7%
1Y
11.8%
DRX
CA$15.51
ADF Group
7D
-10.1%
1Y
78.3%
HBM
CA$34.79
Hudbay Minerals
7D
13.1%
1Y
173.9%
FM
CA$42.12
First Quantum Minerals
7D
12.3%
1Y
80.5%
WPM
CA$162.42
Wheaton Precious Metals
7D
5.1%
1Y
20.3%
Narrative Update • Jul 29

WPM: Streaming Portfolio And Robust 2026 Output Will Drive Future Upside

Analysts have trimmed their consolidated fair value estimate for Wheaton Precious Metals to CA$242.72 from CA$249.81. This reflects recent reductions in Street price targets as firms reassess commodity price assumptions, portfolio growth options, and near term margin pressure across gold and silver producers.
LUN
CA$37.70
Lundin Mining
7D
8.6%
1Y
161.6%
TECK.B
CA$91.02
Teck Resources
7D
10.0%
1Y
102.8%
Narrative Update • Jul 27

TECK.B: Anglo Merger And Copper Expansion Will Shape Future Cash Generation Risk Balance

The analyst price target for Teck Resources has been revised to CA$86.76 from CA$85.00. This reflects recent Street research that highlights ongoing strong cash generation and exposure to energy transition metals as key supports for the updated outlook.
BSX
CA$0.99
Belo Sun Mining
7D
-7.5%
1Y
247.4%
ABX
CA$53.74
Barrick Mining
7D
3.6%
1Y
73.0%
Narrative Update • Jul 22

ABX: Buyback And North American Spin Off Plan Will Drive Future Upside

Barrick Mining's analyst price target has been revised to CA$68 from CA$72. Analysts point to moderated revenue growth expectations, a slightly higher discount rate, and a lower future P/E assumption, partly offset by a small improvement in projected profit margins.
FNV
CA$307.76
Franco-Nevada
7D
3.5%
1Y
30.6%
Narrative Update • Jul 21

FNV: Cobre Panama Restart And Mixed Commodity Outlook Will Shape Outlook

Franco-Nevada's analyst price target has been trimmed to about CA$271 from roughly CA$280 as analysts factor in lower gold price assumptions, mixed near term sector conditions, and updated commodity forecasts, while still seeing relatively strong margins for many gold producers. Analyst Commentary Recent research on Franco-Nevada points to a more cautious tone, with several firms cutting price targets as they refresh gold and silver price assumptions and factor in tougher operating conditions for miners.
AII
CA$15.51
Almonty Industries
7D
-9.9%
1Y
173.1%