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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedMay 06, 2026
DataAggregated Company Financials
Companies1172
  • 7D-3.5%
  • 3M-11.3%
  • 1Y77.2%
  • YTD0.9%

Over the last 7 days, the Metals and Mining industry has dropped 3.5%, driven by pullbacks in Kinross Gold and Wheaton Precious Metals of 6.0% and 3.6%, respectively. Meanwhile, Lithium Americas actually outperformed within the industry, gaining 12% in the last week. In the past year, the industry has gained 77%. Earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 06 May 2026CA$880.5bCA$141.3bCA$28.3b16.1x31.1x6.2x
Fri, 03 Apr 2026CA$963.2bCA$140.0bCA$26.7b18.2x36x6.9x
Sun, 01 Mar 2026CA$1.2tCA$135.2bCA$24.8b24.5x46.4x8.5x
Tue, 27 Jan 2026CA$1.1tCA$125.8bCA$17.5b27.9x61x8.5x
Thu, 25 Dec 2025CA$896.2bCA$125.0bCA$17.4b21.9x51.5x7.2x
Sat, 22 Nov 2025CA$722.6bCA$127.7bCA$18.7b18.6x38.7x5.7x
Mon, 20 Oct 2025CA$759.7bCA$118.0bCA$12.3b22.5x61.7x6.4x
Wed, 17 Sep 2025CA$678.7bCA$117.0bCA$11.9b19x57.2x5.8x
Fri, 15 Aug 2025CA$569.5bCA$117.6bCA$11.8b18.3x48.3x4.8x
Sun, 13 Jul 2025CA$529.8bCA$109.6bCA$8.2b16.7x64.8x4.8x
Tue, 10 Jun 2025CA$515.2bCA$110.6bCA$8.5b15.5x60.7x4.7x
Thu, 08 May 2025CA$485.7bCA$108.3bCA$7.4b14.2x65.3x4.5x
Sat, 05 Apr 2025CA$444.6bCA$106.9bCA$5.4b12.5x82.9x4.2x
Mon, 03 Mar 2025CA$426.1bCA$107.1bCA$3.5b11.6x123.3x4x
Wed, 29 Jan 2025CA$406.5bCA$112.0bCA$676.2m14.1x601.2x3.6x
Fri, 27 Dec 2024CA$394.8bCA$112.1bCA$517.7m12.2x762.5x3.5x
Sun, 24 Nov 2024CA$420.8bCA$109.2bCA$323.7m12.5x1300x3.9x
Tue, 22 Oct 2024CA$451.5bCA$107.1b-CA$296,563,951.5217.9x-1522.4x4.2x
Thu, 19 Sep 2024CA$412.4bCA$106.0b-CA$630,317,177.2816.2x-654.2x3.9x
Sat, 17 Aug 2024CA$392.8bCA$106.3b-CA$635,441,908.5714.3x-618.2x3.7x
Mon, 15 Jul 2024CA$413.4bCA$104.5b-CA$487,740,656.0714.7x-847.5x4x
Wed, 12 Jun 2024CA$382.2bCA$105.2b-CA$614,982,271.9116.2x-621.4x3.6x
Fri, 10 May 2024CA$383.7bCA$104.2b-CA$479,368,125.5217.6x-800.5x3.7x
Sun, 07 Apr 2024CA$367.9bCA$102.7bCA$1.4b17.6x259.5x3.6x
Tue, 05 Mar 2024CA$312.7bCA$102.9bCA$2.4b15x127.8x3x
Thu, 01 Feb 2024CA$332.1bCA$107.5bCA$1.7b12.8x191x3.1x
Sat, 30 Dec 2023CA$346.6bCA$106.3bCA$1.7b14x204.5x3.3x
Mon, 27 Nov 2023CA$330.9bCA$108.5bCA$1.7b11.8x194.4x3x
Wed, 25 Oct 2023CA$345.8bCA$106.1bCA$1.5b10.8x228.1x3.3x
Fri, 22 Sep 2023CA$352.7bCA$104.9bCA$1.6b10.6x219.1x3.4x
Sun, 20 Aug 2023CA$346.5bCA$104.3bCA$1.4b12.1x247x3.3x
Tue, 18 Jul 2023CA$374.3bCA$103.7bCA$2.4b12.1x153.1x3.6x
Thu, 15 Jun 2023CA$367.6bCA$104.3bCA$2.5b13.2x149.4x3.5x
Sat, 13 May 2023CA$394.0bCA$106.0bCA$3.0b15.4x129.7x3.7x
Price to Earnings Ratio

129.7x


Total Market Cap: CA$394.0bTotal Earnings: CA$3.0bTotal Revenue: CA$106.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 287.1x202420252026
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 31.1x which is lower than its 3-year average PE of 287x.
  • The 3-year average PS ratio of 8.9x is higher than the industry's current PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 110% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market0.48%
Materials-2.94%
Metals and Mining-3.48%
Steel1.67%
Aluminum0%0
Diversified Metals and Mining-2.26%
Silver-2.54%
Gold-3.74%
Precious Metals and Minerals-3.85%
Copper-4.37%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 106x.
    • Analysts are expecting annual earnings growth of 14.4%, which is lower than the prior year's growth of 42.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 56% over the next 5 years.
  • However this is lower than its past earnings growth rate of 147% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 14% 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
LAC Lithium AmericasCA$7.5011.6%
+CA$270.9m		81.2%PB1.8x
MAU Montage GoldCA$13.06-4.7%
CA$266.5m		229.0%PB33.1x
LAR Lithium ArgentinaCA$14.167.4%
+CA$160.5m		407.5%PB2.2x
PMET PMET ResourcesCA$6.4211.7%
+CA$123.2m		189.2%PB3.7x
EDV Endeavour MiningCA$78.890.5%
+CA$89.3m		90.9%PE16.3x

Latest News

PMET
CA$6.42
PMET Resources
7D
11.7%
1Y
189.2%
AGI
CA$52.95
Alamos Gold
7D
-7.2%
1Y
41.0%
PAAS
CA$68.94
Pan American Silver
7D
-3.8%
1Y
99.9%
ABX
CA$52.76
Barrick Mining
7D
-1.5%
1Y
98.9%
FM
CA$31.54
First Quantum Minerals
7D
-8.0%
1Y
63.9%
FNV
CA$307.08
Franco-Nevada
7D
-3.4%
1Y
29.8%

FNV: Cobre Panama Progress And Commodity Leverage Will Drive Future Upside Potential

The Analyst Price Target for Franco-Nevada has been raised by CA$11.74, with analysts pointing to updated metal price assumptions, stronger projected profit margins near 72.0%, and the stock's leverage to commodity prices as key drivers for the change. Analyst Commentary Recent research updates on Franco-Nevada point to a cluster of higher price targets, with analysts largely focused on metal price assumptions, asset specific developments and the company’s leverage to commodity prices when they think about valuation and execution risk.
K
CA$39.21
Kinross Gold
7D
-6.0%
1Y
86.7%
MAU
CA$13.06
Montage Gold
7D
-4.7%
1Y
229.0%
EDV
CA$78.89
Endeavour Mining
7D
0.5%
1Y
90.9%
LUG
CA$87.29
Lundin Gold
7D
-8.2%
1Y
41.5%
WPM
CA$170.70
Wheaton Precious Metals
7D
-3.6%
1Y
44.6%

WPM: Robust Streaming Pipeline And New Leadership Will Drive Future Upside

Analysts have lifted their fair value estimate for Wheaton Precious Metals from CA$259.57 to CA$355.72, citing updated assumptions for revenue growth, margins, and future P/E multiples following a series of recent price target revisions across the Street. Analyst Commentary Recent Street research on Wheaton Precious Metals has leaned positive overall, with several bullish analysts revising price targets higher and highlighting potential growth levers around the company’s asset base and development pipeline.
LAR
CA$14.16
Lithium Argentina
7D
7.4%
1Y
407.5%
ODV
CA$4.29
Osisko Development
7D
4.3%
1Y
57.5%
ALS
CA$50.99
Altius Minerals
7D
3.2%
1Y
91.9%
LAC
CA$7.50
Lithium Americas
7D
11.6%
1Y
81.2%
CAD
CA$2.78
Colonial Coal International
7D
13.9%
1Y
58.9%