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Canadian (TSX) Gold Industry Analysis

UpdatedApr 30, 2026
DataAggregated Company Financials
Companies329
  • 7D-9.3%
  • 3M-16.9%
  • 1Y77.5%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 9.3%, driven by a pullback from Wheaton Precious Metals of 14%. On the other hand Cambria Gold Mines is actually up 8.6%. In the past year, the industry has gained 78%. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

Has the Canadian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Apr 2026CA$621.6bCA$93.3bCA$24.6b17.8x25.3x6.7x
Sat, 28 Mar 2026CA$586.6bCA$95.3bCA$24.4b15.7x24.1x6.2x
Mon, 23 Feb 2026CA$735.4bCA$93.0bCA$23.1b23.6x31.9x7.9x
Wed, 21 Jan 2026CA$703.4bCA$85.9bCA$17.2b25.9x41x8.2x
Fri, 19 Dec 2025CA$600.9bCA$85.6bCA$17.1b22.5x35.2x7x
Sun, 16 Nov 2025CA$535.7bCA$86.2bCA$17.9b21.4x29.9x6.2x
Tue, 14 Oct 2025CA$524.9bCA$79.1bCA$13.0b27.4x40.5x6.6x
Thu, 11 Sep 2025CA$479.2bCA$79.9bCA$12.6b24.2x37.9x6x
Sat, 09 Aug 2025CA$398.2bCA$75.6bCA$11.6b20.3x34.3x5.3x
Mon, 07 Jul 2025CA$368.7bCA$72.4bCA$9.5b20.5x39x5.1x
Wed, 04 Jun 2025CA$351.6bCA$68.2bCA$9.0b17.6x39.1x5.2x
Fri, 02 May 2025CA$322.3bCA$63.7bCA$7.2b16.2x44.7x5.1x
Sun, 30 Mar 2025CA$305.3bCA$65.7bCA$7.4b16.9x41.3x4.6x
Tue, 25 Feb 2025CA$272.0bCA$63.9bCA$5.3b14.5x51.3x4.3x
Thu, 23 Jan 2025CA$249.7bCA$61.6bCA$2.8b16.9x88.2x4.1x
Sat, 21 Dec 2024CA$230.0bCA$61.5bCA$2.8b13.9x81.4x3.7x
Mon, 18 Nov 2024CA$229.7bCA$60.2bCA$2.6b15.2x87.9x3.8x
Wed, 16 Oct 2024CA$252.8bCA$55.6bCA$1.5b18.9x165.1x4.6x
Fri, 13 Sep 2024CA$233.8bCA$55.1bCA$1.4b18.2x166x4.2x
Sun, 11 Aug 2024CA$218.4bCA$55.1bCA$1.4b17.2x151.8x4x
Tue, 09 Jul 2024CA$221.9bCA$54.6bCA$1.3b21.9x171.4x4.1x
Thu, 06 Jun 2024CA$212.8bCA$54.8bCA$1.2b21.4x172.3x3.9x
Sat, 04 May 2024CA$207.7bCA$54.3bCA$2.2b18.1x95.6x3.8x
Mon, 01 Apr 2024CA$197.2bCA$53.6bCA$2.0b17.5x98.7x3.7x
Wed, 28 Feb 2024CA$167.1bCA$53.9bCA$3.8b14.3x44.4x3.1x
Fri, 26 Jan 2024CA$189.7bCA$55.9bCA$609.8m13.1x311x3.4x
Sun, 24 Dec 2023CA$204.9bCA$55.1bCA$615.7m16.7x332.8x3.7x
Tue, 21 Nov 2023CA$194.6bCA$56.8bCA$657.4m14x296x3.4x
Thu, 19 Oct 2023CA$202.4bCA$55.0bCA$497.8m15.5x406.5x3.7x
Sat, 16 Sep 2023CA$197.4bCA$53.3bCA$557.8m13.6x354x3.7x
Mon, 14 Aug 2023CA$203.3bCA$53.3bCA$538.1m11.2x377.7x3.8x
Wed, 12 Jul 2023CA$200.1bCA$51.5b-CA$49,278,912.0013.4x-4061.5x3.9x
Fri, 09 Jun 2023CA$211.6bCA$51.8b-CA$53,539,708.0014.6x-3952.7x4.1x
Sun, 07 May 2023CA$237.5bCA$51.1bCA$181.2m19.2x1311.2x4.6x
Price to Earnings Ratio

1311.2x


Total Market Cap: CA$237.5bTotal Earnings: CA$181.2mTotal Revenue: CA$51.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gold Industry Price to Earnings3Y Average 27x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Gold industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 27.0x.
  • The 3-year average PS ratio of 4.8x is lower than the industry's current PS ratio of 6.7x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 414% per year over the last three years.
  • Revenues for these companies have grown 22% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Canadian Gold compare with similar industries?

CA Market-1.68%
Materials-8.23%
Metals and Mining-9.15%
Gold-9.28%
Aluminum0%0
Steel-1.24%
Diversified Metals and Mining-7.01%
Precious Metals and Minerals-9.47%
Silver-10.14%
Copper-11.75%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CAMB Cambria Gold MinesCA$1.908.6%
+CA$51.6m		-69.6%PB3.1x
MGM Maple Gold MinesCA$3.1018.3%
+CA$33.6m		244.4%PB14.4x
AUXX Gold X2 MiningCA$1.39-6.7%
CA$27.5m		321.2%PB9.8x
SIG Sitka GoldCA$0.985.4%
+CA$21.1m		66.1%PB4.9x
KLDC Kirkland Lake DiscoveriesCA$0.5013.6%
+CA$12.3m		1,566.7%PB5x

Latest News

LUG
CA$90.05
Lundin Gold
7D
-15.1%
1Y
60.1%
WPM
CA$170.84
Wheaton Precious Metals
7D
-13.7%
1Y
48.4%

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.
AUXX
CA$1.39
Gold X2 Mining
7D
-6.7%
1Y
321.2%
CAMB
CA$1.90
Cambria Gold Mines
7D
8.6%
1Y
-69.6%
EDV
CA$76.47
Endeavour Mining
7D
-11.1%
1Y
104.7%
PAAS
CA$70.19
Pan American Silver
7D
-9.1%
1Y
102.2%
FNV
CA$312.76
Franco-Nevada
7D
-7.5%
1Y
32.0%
MGM
CA$3.10
Maple Gold Mines
7D
18.3%
1Y
244.4%
AGI
CA$55.93
Alamos Gold
7D
-9.4%
1Y
41.9%

AGI: Higher 2026 Metal Price Forecasts Will Support Dividend And Reserve Upside

Analysts have increased their CA$ price target on Alamos Gold by CA$8, citing updated metal price assumptions for 2026 and incremental adjustments to fair value, discount rate, margin and P/E inputs in their models. Analyst Commentary Recent research activity around Alamos Gold has centered on updated metal price assumptions for 2026 and refreshed valuation models, with several firms revising their price targets in both US$ and CA$ terms.
ABX
CA$52.58
Barrick Mining
7D
-5.6%
1Y
100.0%

ABX: Reko Diq Review And Project Delays Will Shape Future Upside

Analysts have raised their CA$ fair value estimate for Barrick Mining from about CA$65.36 to about CA$71.61, citing updated assumptions around discount rates, revenue growth, margins, and a slightly lower future P/E multiple that together support the higher price target. Analyst Commentary Analysts are updating their views on Barrick Mining in the context of broader sector research that has recently featured valuation resets and rating changes for peers.
KLDC
CA$0.50
Kirkland Lake Discoveries
7D
13.6%
1Y
1,566.7%
K
CA$40.86
Kinross Gold
7D
-8.4%
1Y
100.8%

K: Future Buybacks And Steady Output Will Likely Drive Stronger Cash Returns

Analysts have trimmed their fair value estimate for Kinross Gold to CA$53.46 from CA$54.39, reflecting updated assumptions around revenue growth, profit margins, the discount rate, and future P/E levels. What's in the News The Board of Directors authorized a new share buyback plan on March 19, 2026, signaling continued use of repurchases as a capital management tool (Key Developments).
SOI
CA$0.20
Sirios Resources
7D
5.3%
1Y
344.4%
SIG
CA$0.98
Sitka Gold
7D
5.4%
1Y
66.1%
MMY
CA$0.88
Monument Mining
7D
2.3%
1Y
95.6%
ANK
CA$0.32
Angkor Resources
7D
16.7%
1Y
65.8%