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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies1163
  • 7D2.7%
  • 3M25.9%
  • 1Y118.5%
  • YTD111.3%

Over the last 7 days, the Metals and Mining industry has risen 2.7%, driven by gains from Barrick Mining of 4.0%. This means that the industry has gained 118% over the past year. As for the next few years, earnings are expected to grow by 28% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Dec 2025CA$852.6bCA$126.0bCA$17.6b21.2x48.5x6.8x
Mon, 17 Nov 2025CA$755.2bCA$126.9bCA$18.5b19.6x40.8x5.9x
Wed, 15 Oct 2025CA$748.0bCA$118.2bCA$12.3b23.8x60.7x6.3x
Fri, 12 Sep 2025CA$668.4bCA$118.3bCA$11.9b18.6x56.2x5.6x
Sun, 10 Aug 2025CA$563.9bCA$114.5bCA$11.4b17.3x49.6x4.9x
Tue, 08 Jul 2025CA$529.9bCA$109.5bCA$8.2b17.4x65x4.8x
Thu, 05 Jun 2025CA$513.8bCA$110.5bCA$8.5b15.5x60.8x4.7x
Sat, 03 May 2025CA$460.4bCA$106.4bCA$6.5b12.8x71.2x4.3x
Mon, 31 Mar 2025CA$461.8bCA$107.7bCA$5.3b13.6x87x4.3x
Wed, 26 Feb 2025CA$430.1bCA$106.0bCA$3.3b12.3x129.3x4.1x
Fri, 24 Jan 2025CA$409.7bCA$111.9bCA$682.8m13.7x600.1x3.7x
Sun, 22 Dec 2024CA$391.1bCA$111.8bCA$479.3m12.6x816x3.5x
Tue, 19 Nov 2024CA$399.4bCA$110.1bCA$488.1m12.9x818.3x3.6x
Thu, 17 Oct 2024CA$431.6bCA$106.4b-CA$373,069,729.0417.6x-1157x4.1x
Sat, 14 Sep 2024CA$405.9bCA$105.8b-CA$668,362,503.4316x-607.4x3.8x
Mon, 12 Aug 2024CA$371.3bCA$105.7b-CA$691,959,884.4714.7x-536.6x3.5x
Wed, 10 Jul 2024CA$391.4bCA$104.5b-CA$548,482,480.9615.5x-713.7x3.7x
Fri, 07 Jun 2024CA$384.8bCA$104.7b-CA$613,721,597.9417.2x-627.1x3.7x
Sun, 05 May 2024CA$374.4bCA$103.7bCA$41.2m17.1x9080.3x3.6x
Tue, 02 Apr 2024CA$346.0bCA$102.6bCA$1.5b14.6x231.3x3.4x
Thu, 29 Feb 2024CA$291.9bCA$103.0bCA$2.4b13.6x121.1x2.8x
Sat, 27 Jan 2024CA$333.0bCA$107.5bCA$1.7b12.7x194.4x3.1x
Mon, 25 Dec 2023CA$349.2bCA$106.4bCA$1.7b13.8x205.1x3.3x
Wed, 22 Nov 2023CA$327.1bCA$109.0bCA$1.7b12.1x193x3x
Fri, 20 Oct 2023CA$349.6bCA$106.2bCA$1.6b11.3x223.7x3.3x
Sun, 17 Sep 2023CA$366.6bCA$104.3bCA$1.7b11.3x218.6x3.5x
Tue, 15 Aug 2023CA$361.7bCA$104.2bCA$1.5b10.7x245.7x3.5x
Thu, 13 Jul 2023CA$372.7bCA$103.6bCA$2.4b11.8x152.3x3.6x
Sat, 10 Jun 2023CA$366.4bCA$104.4bCA$2.5b12.8x146.8x3.5x
Mon, 08 May 2023CA$407.4bCA$104.6bCA$3.4b16.9x118.8x3.9x
Wed, 05 Apr 2023CA$391.4bCA$107.2bCA$5.1b14.8x76.4x3.6x
Fri, 03 Mar 2023CA$354.7bCA$108.3bCA$8.1b14.2x43.8x3.3x
Sun, 29 Jan 2023CA$373.7bCA$112.8bCA$12.0b13x31.2x3.3x
Tue, 27 Dec 2022CA$341.0bCA$114.5bCA$12.1b11.6x28.2x3x
Price to Earnings Ratio

28.2x


Total Market Cap: CA$341.0bTotal Earnings: CA$12.1bTotal Revenue: CA$114.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 287.5x202320242025
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 48.5x which is lower than its 3-year average PE of 287x.
  • The 3-year average PS ratio of 8.4x is higher than the industry's current PS ratio of 6.8x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 3.2% 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 Market0.33%
Materials2.38%
Metals and Mining2.69%
Copper3.99%
Diversified Metals and Mining3.70%
Precious Metals and Minerals3.10%
Silver2.90%
Gold2.30%
Steel1.48%
Aluminum0%0
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 57.9%, which is higher than its past year's earnings decline of 11.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 75% over the next 5 years.
  • However this is lower than its past earnings growth rate of 496% per year.
  • In contrast, the Steel industry is expected to see its earnings grow by 8.3% 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
ABX Barrick MiningCA$61.624.0%
+CA$4.0b		177.3%PE21x
FM First Quantum MineralsCA$35.175.7%
+CA$1.6b		87.0%PE458.8x
WPM Wheaton Precious MetalsCA$164.881.9%
+CA$1.4b		100.8%PE54.2x
IVN Ivanhoe MinesCA$14.547.1%
+CA$1.4b		-16.2%PE48.9x
EDV Endeavour MiningCA$71.187.9%
+CA$1.3b		173.2%PE25.3x

Latest News

ABX
CA$61.62
Barrick Mining
7D
4.0%
1Y
177.3%
IVN
CA$14.54
Ivanhoe Mines
7D
7.1%
1Y
-16.2%
AYA
CA$19.90
Aya Gold & Silver
7D
-5.1%
1Y
83.6%
EDV
CA$71.18
Endeavour Mining
7D
7.9%
1Y
173.2%
PAAS
CA$71.13
Pan American Silver
7D
4.0%
1Y
140.7%
WPM
CA$164.88
Wheaton Precious Metals
7D
1.9%
1Y
100.8%

WPM Will Navigate Higher Metal Price Expectations Amid Mixed Macro Backdrop

Analysts have lifted their price targets for Wheaton Precious Metals into the low to mid $130 range, citing higher long term precious metal price forecasts, resilient demand amid macro headwinds, and ongoing capital returns and M&A momentum as support for a higher fair value, despite slightly lower growth and margin expectations. Analyst Commentary Recent Street research has highlighted a broadly constructive outlook for Wheaton Precious Metals, with multiple price target increases across North American and international markets.
ASE
CA$1.80
Asante Gold
7D
-9.5%
1Y
68.2%
PPTA
CA$38.18
Perpetua Resources
7D
-3.8%
1Y
114.0%
EQX
CA$19.57
Equinox Gold
7D
-3.3%
1Y
161.6%

EQX Will Benefit From Outperformance Upgrades And Stronger Medium-Term Profitability

The analyst price target for Equinox Gold has been raised sharply from approximately C$17 to about C$28 per share, as analysts point to stronger expected profitability and recent upgrades to Outperform, which support a higher valuation multiple despite slightly more conservative growth assumptions. Analyst Commentary Bullish analysts have turned increasingly positive on Equinox Gold as recent operational progress and a stronger gold price backdrop have improved confidence in the company’s medium term outlook.
TECK.B
CA$61.57
Teck Resources
7D
3.7%
1Y
4.6%
FNV
CA$292.25
Franco-Nevada
7D
-1.2%
1Y
75.1%

FNV: Future Royalty Cash Flows Will Benefit From Strong Precious Metal Prices

Analysts have modestly lowered their blended price target on Franco-Nevada by approximately $20 to around $225 per share. This reflects a balance between stronger royalty-driven cash flow potential amid firm commodity prices and heightened market volatility, as well as softer investor sentiment following the recent gold pullback.
SCZ
CA$11.71
Santacruz Silver Mining
7D
-16.4%
1Y
927.2%
K
CA$39.42
Kinross Gold
7D
2.5%
1Y
196.8%

K: Future Margins And Buybacks Are Expected To Balance Softer Production

Analysts have modestly raised their price target on Kinross Gold to approximately 38.33 dollars from about 37.79 dollars, citing slightly higher expected profitability and valuation multiples. These factors more than offset somewhat softer long term revenue growth assumptions and a marginally higher discount rate.
FM
CA$35.17
First Quantum Minerals
7D
5.7%
1Y
87.0%
CGG
CA$27.72
China Gold International Resources
7D
-4.0%
1Y
308.2%

There's Reason For Concern Over China Gold International Resources Corp. Ltd.'s (TSE:CGG) Massive 27% Price Jump

Dec 03
There's Reason For Concern Over China Gold International Resources Corp. Ltd.'s (TSE:CGG) Massive 27% Price Jump
LAC
CA$6.54
Lithium Americas
7D
-7.1%
1Y
53.2%