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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedOct 02, 2025
DataAggregated Company Financials
Companies1169
  • 7D6.7%
  • 3M42.1%
  • 1Y75.4%
  • YTD83.5%

Over the last 7 days, the Metals and Mining industry has risen 6.7%, and Wheaton Precious Metals contributed the most with a gain of 6.2%. During this same period, the St. Augustine Gold and Copper underperformed, falling 10%. This takes the industry's 12 month performance to a gain of 75%. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Oct 2025CA$742.5bCA$117.5bCA$12.2b23.9x61x6.3x
Sun, 31 Aug 2025CA$615.1bCA$117.5bCA$11.9b16.7x51.5x5.2x
Tue, 29 Jul 2025CA$531.8bCA$110.2bCA$8.6b18.5x62x4.8x
Thu, 26 Jun 2025CA$513.9bCA$109.9bCA$8.2b15.4x62.4x4.7x
Sat, 24 May 2025CA$435.6bCA$92.7bCA$5.4b13.9x80.5x4.7x
Mon, 21 Apr 2025CA$476.2bCA$104.5bCA$5.1b14.1x94.1x4.6x
Wed, 19 Mar 2025CA$467.3bCA$106.9bCA$5.2b12.6x90.3x4.4x
Fri, 14 Feb 2025CA$447.1bCA$112.1bCA$3.9b13.2x113.5x4x
Sun, 12 Jan 2025CA$410.4bCA$112.2bCA$536.7m13.5x764.6x3.7x
Tue, 10 Dec 2024CA$411.6bCA$110.6bCA$356.0m13.7x1156.2x3.7x
Thu, 07 Nov 2024CA$429.1bCA$105.8b-CA$246,334,766.3615x-1742x4.1x
Sat, 05 Oct 2024CA$420.2bCA$105.3b-CA$375,199,690.9117.8x-1119.9x4x
Mon, 02 Sep 2024CA$401.9bCA$105.1b-CA$687,231,329.6917.2x-584.9x3.8x
Wed, 31 Jul 2024CA$395.3bCA$105.1b-CA$291,796,421.8015.3x-1354.8x3.8x
Fri, 28 Jun 2024CA$376.8bCA$104.9b-CA$563,909,095.7215.6x-668.3x3.6x
Sun, 26 May 2024CA$396.6bCA$104.7b-CA$945,430,238.1618x-419.5x3.8x
Tue, 23 Apr 2024CA$376.5bCA$103.7bCA$1.5b17.5x249.4x3.6x
Thu, 21 Mar 2024CA$325.9bCA$102.8bCA$1.3b13.3x250.5x3.2x
Sat, 17 Feb 2024CA$296.7bCA$100.7bCA$5.0b12.7x59.8x2.9x
Mon, 15 Jan 2024CA$340.9bCA$107.3bCA$1.7b12.9x195.1x3.2x
Wed, 13 Dec 2023CA$325.5bCA$108.3bCA$1.8b12.4x182.8x3x
Fri, 10 Nov 2023CA$319.8bCA$109.5bCA$2.1b13.3x151.4x2.9x
Sun, 08 Oct 2023CA$339.2bCA$105.9bCA$1.6b11x212.7x3.2x
Tue, 05 Sep 2023CA$366.5bCA$104.6bCA$1.7b11.3x211.8x3.5x
Thu, 03 Aug 2023CA$364.9bCA$102.7bCA$708.2m11.9x515.3x3.6x
Sat, 01 Jul 2023CA$360.7bCA$104.0bCA$2.5b12x146.6x3.5x
Mon, 29 May 2023CA$365.5bCA$106.0bCA$2.8b14.5x132.9x3.4x
Wed, 26 Apr 2023CA$395.2bCA$108.4bCA$5.2b13.6x75.4x3.6x
Fri, 24 Mar 2023CA$363.4bCA$108.9bCA$6.9b13.6x52.7x3.3x
Sun, 19 Feb 2023CA$350.0bCA$111.5bCA$9.5b13.1x37x3.1x
Tue, 17 Jan 2023CA$369.7bCA$113.4bCA$12.0b12.6x30.8x3.3x
Thu, 15 Dec 2022CA$346.5bCA$114.1bCA$12.1b10.9x28.6x3x
Sat, 12 Nov 2022CA$331.3bCA$112.7bCA$13.5b9.2x24.5x2.9x
Mon, 10 Oct 2022CA$300.8bCA$115.9bCA$16.3b9.1x18.5x2.6x
Price to Earnings Ratio

18.5x


Total Market Cap: CA$300.8bTotal Earnings: CA$16.3bTotal Revenue: CA$115.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 285.6x202320242025
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 61.0x which is lower than its 3-year average PE of 286x.
  • The 3-year average PS ratio of 8.1x is higher than the industry's current PS ratio of 6.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 9.2% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

CA Market0.89%
Materials5.73%
Metals and Mining6.73%
Precious Metals and Minerals11.33%
Copper9.04%
Silver8.80%
Diversified Metals and Mining7.30%
Gold6.21%
Steel0.13%
Aluminum0%0
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 33.3%, which is higher than its past year's earnings growth of 27.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 78% over the next 5 years.
  • However this is lower than its past earnings growth rate of 403% per year.
  • In contrast, the Steel 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
WPM Wheaton Precious MetalsCA$155.426.2%
+CA$4.1b		86.8%PE64.1x
K Kinross GoldCA$35.479.6%
+CA$3.8b		168.9%PE20.3x
FNV Franco-NevadaCA$309.966.3%
+CA$3.5b		84.1%PE54.6x
TECK.B Teck ResourcesCA$61.5110.5%
+CA$2.9b		-13.1%PE144.3x
FM First Quantum MineralsCA$31.7710.4%
+CA$2.5b		66.0%PE93.4x

Latest News

OLA
CA$14.31
Orla Mining
7D
-2.3%
1Y
158.8%
SKE
CA$24.23
Skeena Resources
7D
-3.7%
1Y
114.0%
FM
CA$31.57
First Quantum Minerals
7D
9.9%
1Y
70.3%
ASE
CA$2.23
Asante Gold
7D
-3.5%
1Y
54.9%
LUN
CA$20.60
Lundin Mining
7D
7.6%
1Y
47.6%

Lundin Mining Corporation's (TSE:LUN) Shares Bounce 28% But Its Business Still Trails The Industry

Sep 30
Lundin Mining Corporation's (TSE:LUN) Shares Bounce 28% But Its Business Still Trails The Industry
IVN
CA$14.58
Ivanhoe Mines
7D
6.0%
1Y
-26.1%
ABX
CA$47.39
Barrick Mining
7D
-0.9%
1Y
76.1%
LAC
CA$9.56
Lithium Americas
7D
-7.0%
1Y
180.4%
K
CA$34.79
Kinross Gold
7D
5.6%
1Y
169.3%

Persistent Inflation And Uncertainty Will Sustain High Gold Prices

The upward revision in Kinross Gold’s analyst price target reflects increased optimism, driven by a higher future P/E ratio and slightly improved revenue growth forecasts, resulting in a new consensus price target of CA$27.44. What's in the News Kinross Gold added to the FTSE All-World Index.
WPM
CA$153.32
Wheaton Precious Metals
7D
2.4%
1Y
86.4%

Salobo III Streaming Deals Will Shape Future Metals Markets

Analysts have raised their price target for Wheaton Precious Metals to CA$150.28, citing stronger-than-expected recent results, optimism over commodity price trends, and the company’s new growth initiative with the Hemlo Mine acquisition. Analyst Commentary Bullish analysts are positive on the outlook for copper, aluminum, and gold prices, supporting higher valuation multiples for Wheaton Precious Metals.
SSRM
CA$32.83
SSR Mining
7D
-0.8%
1Y
320.4%

Rising Gold Demand And Reserve Expansion Will Unlock Future Value

Analysts have raised SSR Mining’s price target to CA$24.28, reflecting potential upside if Copler operations resume smoothly, though operational and geopolitical risks keep sentiment cautious and peer-relative discounts in place. Analyst Commentary Ongoing market caution following the leach pad slip and production suspension at Copler in Turkiye leads to shares trading at a discount to peers.
IMG
CA$18.57
IAMGOLD
7D
12.8%
1Y
166.4%
GSVR
CA$0.46
Guanajuato Silver
7D
-20.7%
1Y
87.8%
PAAS
CA$54.72
Pan American Silver
7D
6.6%
1Y
89.0%
TECK.B
CA$60.54
Teck Resources
7D
8.6%
1Y
-13.0%

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.
MAU
CA$6.73
Montage Gold
7D
-4.7%
1Y
251.4%