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

Investors are pessimistic on the Canadian Gold 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 17.2x which is lower than its 3-year average PE of 119x. The industry is trading close to its 3-year average PS ratio of 4.9x.

How does Canadian Gold compare with similar industries?

There are no additional sub-industries under this industry.

Canadian (TSX) Gold Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 30 Jul 2026	CA$561.6b	CA$110.8b	CA$32.7b	13.4x	17.2x	5.1x
Sat, 27 Jun 2026	CA$552.1b	CA$111.3b	CA$32.8b	13.4x	16.8x	5x
Mon, 25 May 2026	CA$610.6b	CA$108.3b	CA$32.0b	15x	19.1x	5.6x
Wed, 22 Apr 2026	CA$699.8b	CA$93.1b	CA$24.5b	18.5x	28.6x	7.5x
Fri, 20 Mar 2026	CA$631.5b	CA$95.4b	CA$24.3b	18.2x	25.9x	6.6x
Sun, 15 Feb 2026	CA$714.7b	CA$88.6b	CA$19.0b	26.5x	37.5x	8.1x
Tue, 13 Jan 2026	CA$677.0b	CA$86.2b	CA$17.2b	24.8x	39.3x	7.9x
Thu, 11 Dec 2025	CA$577.3b	CA$85.0b	CA$17.5b	22.6x	33x	6.8x
Sat, 08 Nov 2025	CA$492.3b	CA$83.5b	CA$15.8b	22.8x	31.2x	5.9x
Mon, 06 Oct 2025	CA$534.0b	CA$78.8b	CA$12.9b	26.1x	41.4x	6.8x
Wed, 03 Sep 2025	CA$442.9b	CA$79.5b	CA$12.6b	23.7x	35.3x	5.6x
Fri, 01 Aug 2025	CA$362.5b	CA$74.0b	CA$9.8b	20.2x	37.1x	4.9x
Sun, 29 Jun 2025	CA$339.2b	CA$67.2b	CA$8.9b	16.2x	38.1x	5x
Tue, 27 May 2025	CA$330.8b	CA$68.1b	CA$9.0b	19.1x	36.7x	4.9x
Thu, 24 Apr 2025	CA$328.0b	CA$63.9b	CA$7.2b	17.4x	45.3x	5.1x
Sat, 22 Mar 2025	CA$303.4b	CA$65.3b	CA$7.2b	16.7x	42x	4.6x
Mon, 17 Feb 2025	CA$270.4b	CA$62.0b	CA$3.9b	14.7x	69.5x	4.4x
Wed, 15 Jan 2025	CA$244.1b	CA$61.5b	CA$2.8b	14.6x	86.4x	4x
Fri, 13 Dec 2024	CA$249.2b	CA$60.9b	CA$2.7b	13.8x	92.3x	4.1x
Sun, 10 Nov 2024	CA$249.5b	CA$58.9b	CA$2.5b	15x	98.4x	4.2x
Tue, 08 Oct 2024	CA$243.5b	CA$54.9b	CA$1.5b	17.6x	162.4x	4.4x
Thu, 05 Sep 2024	CA$229.8b	CA$54.8b	CA$1.4b	18.3x	165.2x	4.2x
Sat, 03 Aug 2024	CA$231.9b	CA$55.3b	CA$1.8b	17.9x	130.5x	4.2x
Mon, 01 Jul 2024	CA$212.0b	CA$54.8b	CA$1.3b	20.5x	164.5x	3.9x
Wed, 29 May 2024	CA$222.6b	CA$54.6b	CA$1.3b	21.1x	177.9x	4.1x
Fri, 26 Apr 2024	CA$210.0b	CA$54.1b	CA$2.0b	19.4x	103.6x	3.9x
Sun, 24 Mar 2024	CA$186.6b	CA$54.5b	CA$2.0b	16.1x	92.8x	3.4x
Tue, 20 Feb 2024	CA$172.3b	CA$53.3b	CA$4.0b	15.1x	43.1x	3.2x
Thu, 18 Jan 2024	CA$189.7b	CA$56.1b	CA$617.8m	13.6x	307x	3.4x
Sat, 16 Dec 2023	CA$203.1b	CA$55.6b	CA$624.8m	16.8x	325x	3.7x
Mon, 13 Nov 2023	CA$190.4b	CA$57.1b	CA$1.2b	16.6x	164.6x	3.3x
Wed, 11 Oct 2023	CA$189.8b	CA$54.6b	CA$486.2m	14.6x	390.3x	3.5x
Fri, 08 Sep 2023	CA$197.3b	CA$53.9b	CA$595.9m	13.6x	331x	3.7x
Sun, 06 Aug 2023	CA$200.7b	CA$52.9b	CA$267.2m	13.8x	750.9x	3.8x


CA Market	0.66%
Materials	-0.64%
Metals and Mining	-1.01%
Gold	0.088%
Steel	0.42%
Aluminum	0%	0
Diversified Metals and Mining	-2.23%
Silver	-3.09%
Copper	-4.46%
Precious Metals and Minerals	-4.47%

Company	Last Price	7D	1Y	Valuation
CGG China Gold International Resources	CA$31.39	3.9% +CA$467.8m	164.0%	PE14.4x
LUG Lundin Gold	CA$82.54	0.8% +CA$154.8m	30.4%	PE15.6x
GORO Goldgroup Mining	CA$2.86	-21.4% CA$111.0m	-27.8%	PS6.9x
BSX Belo Sun Mining	CA$1.04	9.5% +CA$50.0m	271.4%	PB11x
KNT K92 Mining	CA$22.64	0.9% +CA$49.1m	58.1%	PE12.5x

Announcement • Jul 28

Lundin Gold Reports Further High-Grade Results At FDNS And Begins Development Toward FDN East Following Record Drill Result

Lundin Gold Inc. reported strong results from its ongoing conversion and near-mine exploration drilling programs at the Fruta del Norte gold mine in southeast Ecuador. The drilling programs continue to deliver positive results at FDN, FDN South (FDNS), and FDN East. With four gold-silver epithermal deposits identified to date, the Company has a significant pipeline to continue growing Mineral Resources and Mineral Reserves. FDNS exploration: High-grade intercepts at depth continue to extend mineralization beyond the current Mineral Resource envelope, highlighting the potential for further resource growth. FDNS conversion: Conversion drilling demonstrates continuity and grade in support of potential resource and reserve growth. FDNS development: Development is advancing through the deposit, with development crosscuts successfully intersecting modelled mineralization and providing initial development ore. FDN East: The highest-grade interval ever recorded at FDN East, together with continued success expanding high-grade mineralization to the east, reinforces confidence in the deposit's growth and conversion potential. Underground development toward FDN East is underway to accelerate drilling and support potential future production. FDN: Results extend the upper portion of the main FDN mineralized envelope close to existing underground infrastructure, highlighting additional near-mine resource growth opportunities. At FDNS, drilling continues to intercept exceptional grades over mineable widths, including several high-grade intercepts beyond the current Mineral Resource envelope. These results reinforce confidence that FDNS will continue to grow as the deposit advances toward future production. Development to the south has successfully intersected mineralized veins building confidence in the geological model. At FDN East, the highest-grade interval ever recorded at the deposit, combined with expanding mineralization to the east, further increases confidence in the deposit's growth and conversion potential. Underground development toward FDN East from FDN has commenced. This development is expected to provide improved access for exploration and conversion drilling while also establishing the initial infrastructure required to support potential future production. The advancement of FDNS, the growth of FDN East and ongoing success at FDN demonstrate the strength of the known epithermal exploration pipeline and provide multiple opportunities to create long-term value from the broader Fruta del Norte mineralized system. Conversion Drilling Program Highlights (not true widths): FDNS: Drill hole FDN-C26-443 intersected 199.90 grams per tonne (g/t) of gold (Au) over 6.90m from 66.60m, including 762.84 g/t Au over 1.80m. Drill hole FDN-C26-481 intersected 196.79 g/t Au over 4.50m from 161.35m, including 929.00 g/t Au over 0.90m. Drill hole FDN-C26-459 intersected 90.91 g/t Au over 6.80m from 137.40m, including 214.40 g/t Au over 2.45m. Drill hole FDN-C26-453 intersected 53.01 g/t Au over 8.40m from 31.30m, including 220.08 g/t Au over 1.85m. Exploration Drilling Program Highlights (not true widths): FDNS: Drill hole UGE-S-26-478 intersected 108.61 g/t Au over 11.75m from 177.80m, including 2,030.00 g/t Au over 0.40m. Drill hole UGE-S-26-497 intersected 67.19 g/t Au over 5.80m from 37.50m, including 552.00 g/t Au over 0.40m. Drill hole UGE-S-26-505 intersected 19.33 g/t Au over 5.35 from 56.95m, including 49.44 g/t Au over 2.00m. FDN East: Drill hole UGE-E-26-487 intersected 236.62 g/t Au over 3.95 m from 280.75m including 933.00 g/t Au over 1.00m. Drill hole FDNE-2026-466-D2 intersected 23.16 g/t Au over 6.25m from 429.05m, including 39.01 g/t Au over 3.00m. FDN: Drill hole UGE-26-520 intersected 9.32 g/t Au over 20.90 m from 50.90m including 18.85 g/t Au over 6.50m. Drill hole UGE-26-523 intersected 15.05 g/t Au over 8.05m from 45.60m, including 25.35 g/t Au over 2.45m. FDNS: Underground drilling programs continue to advance at FDNS, located directly south of the FDN deposit. In 2026, the Company declared an inaugural Mineral Reserve of 0.54 Moz (2.50 Mt at 6.66 g/t Au) approximately 18 months after the deposit's discovery. Following the declaration of the inaugural Mineral Reserve, the Company commenced underground development from the South Portal toward FDNS, taking the first round in April. Approximately 116 metres of development has been completed from the South Portal and 252 metres from existing access points on the 1170 level. Development crosscuts from these levels have successfully intersected mineralized veins, building confidence in the geologic model. The current conversion drilling program aims to upgrade Inferred Resources to the Indicated category and support further Mineral Reserve additions. Since January, approximately 12,678 metres of drilling has been completed across 110 holes and outstanding intercepts continue to be recorded along the entire extension of the FDNS deposit. Notably, holes FDN-C26-443, FDN-C25-459, and FDN-C26-481 have defined distinct higher-grade mineralized zones, providing areas for further drilling. The exploration drilling program continues to successfully intercept the continuity of the FDNS deposit beyond the current Mineral Resource. Holes UGE-S-26-478, UGE-S-26-497, and UGE-S-26-505 returned high-grade mineralized intercepts at depth, highlighting areas for further expansion. Five underground rigs are currently operating at FDNS. FDN East: FDN East is a buried epithermal system composed of multiple subparallel north-south trending veins located less than 100 metres from the main FDN mine infrastructure. FDN East has initially been defined over a 500-metre strike length, and the Company published an inaugural Mineral Resource estimate in 2026 of 0.42 Moz Au (2.17 Mt at 6.01 g/t Au). The FDN East deposit remains open in all directions and drilling has successfully expanded the mineralized footprint along strike to the north and to the south as well as toward the east. In the central portion of the deposit, hole UGE-E-26-487 returned the highest-grade intercept ever recorded at FDN East, highlighting the potential for the area to host high-grade mineralized zones. Surface hole FDNE-2026-466-D2 confirmed the continuity of the recently discovered high-grade veins in the eastern portion of the deposit and suggests further exploration potential to the east of the known limits of mineralization. Currently, two underground rigs and one surface rig are operating at FDN East.

Announcement • Jun 30

China Gold International Resources Corp Ltd Announces Completion Of Mineral Resource And Reserve Estimate Update And Ni43-101 Technical Report For Jiama Copper Polymetallic Project

China Gold International Resources Corp. Ltd. announced that it has completed mineral resource and reserve estimate update and the NI43-101 Technical Report with respect to the Mineral Resource and Reserve Estimates Update for the Jiama Copper Polymetallic Project in Tibet Autonomous Region, the People’s Republic of China. Following an extensive exploration campaign, the company has completed a major update to the Mineral Resource and Mineral Reserve estimates for the Jiama Copper Polymetallic Project. The updated Mineral Resource significantly expands the Project's scale and development potential, providing a robust foundation for future production expansion, mine life extension and further technical studies on larger-scale mining scenarios. The updated Mineral Resource and Mineral Reserve estimates have been depleted to account for production up to December 31, 2025. The significant increase in the updated estimates reflects the success of the company's multi-year exploration programs, which have substantially expanded the known mineralized system and delineated additional mineral resources and reserves at depth and in surrounding areas of the Jiama Project. Measured mineral resource increased 523% from 100 Mt to 623 Mt. Total mineral resource of metal amounts has increased significantly. Compared with resource estimate in 2012 by Mining One, the Measured and Indicated resources are 1,335 Mt with copper metal increasing by 3 million tonnes, gold by 7.12 million ounces, silver by 247.23 million ounces. The inferred resources are 454.7 Mt with copper metal increased by 1.74 million tons, gold by 2.72 million ounces, silver by 116.3 million ounces. The average grade of the updated Measured Mineral Resources is 0.69% Cu or 1.12% CuEq, while the average grade of the updated Inferred Mineral Resources is 0.65% Cu or 1.09% CuEq. Total reserve increased 51% from 440 Mt to 665 Mt. Compared to the 2013 Reserve Estimates by Mining One, the current open-pit ore reserves have dropped from 240 million tons to 110 million tons although it still can support more than 20 year mine life for two current open pit operation at the current mining capacities. Underground ore reserves have increased from 200 million tons in 2013 to 550 million tons, copper metal from 1.47 million tons to 5.2 million tons, molybdenum from 100,000 tons to 220,000 tons, gold from 2 million ounces to 8 million ounces, and silver from 88 million ounces to 354 million ounces. The average grade of the updated Mineral Reserve is 0.86% Cu or 1.40% CuEq. The new mineral resource provides basis for further studies on the proposed large open pit studies on the Jiama project. Jiama Copper polymetallic Project is a large metallic deposit of copper, molybdenum, gold, silver, lead, and zinc. Tibet Huatailong Mining Development Company, a subsidiary of China Gold International Resources Corporation, owns 100% of the Jiama project. Development of the Jiama copper polymetallic mine began at the beginning of this century. The first phase of the Jiama project's Tongqianshan and Niumatang open pit mine began commercial operation in 2010. The Phase II development and expansion was completed in 2018. Currently, the Jiama project is operating at a production rate of 34,000 tons per day and is expected to return to its designed capacity of 50,000 tons per day in 2028. Currently, Huatailong runs two open-pit mines and two underground mining districts in one underground mine at Jiama. The Jiama mining area is in the Gangdise Cu, Mo, Pb, Zn, Au and Ag metallogenic belt of the Tethys-Himalayan orogenic region, one of the world's major porphyry copper ore-forming regions. Mineral Resources are reported inclusive of Mineral Reserves. All Mineral Resource Estimates including Cu, Mo, Au, Ag, Pb, and Zn grade and their tonnages have been rounded to reflect the imprecise nature of the estimates for each classification category, therefore totals may not appear to sum correctly due to rounding. Tony (Yingting) Guo, PhD, PGeo and Chaoxian (Ian) Zhou, MSc estimated the Mineral Resources. This Mineral Resource Estimation (MRE) was estimated with an effective date of June 30, 2026, and depleted to account for annual production up until December 31, 2025. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. For the two existing open pit mining operation and two mining areas of the underground mine at Jiama, a Mineral Reserve estimate, dated effective June 30, 2026, has been completed by CGDI in accordance with the CIM Definition Standards and Best Practice Guidelines under NI43-101. The mineral reserves report date is June 30, 2026. All mineral reserves are determined according to the CIM standard specified in Canadian National Standard 43-101. Mineral reserves are estimated based on the following mining and economic factors: Open-pit mining: a) mining methods use a 5% dilution factor and a 95% mining recovery rate; b) The overall open-pit slope is 43 degrees; c) Copper price at $4.66 per pound; d) Overall copper processing and recovery rate is 85%. Underground mining: a) Mining dilution by 12%; b) Mining losses by 15% c) Beneficiation yield of 85%. Mineral reserves: Open-pit copper equivalent grade 0.61% CuEq, underground copper equivalent grade 1.56% CuEq; CuEq=Cu+0.01Ag+1.69Mo+0.79*Au; Cu, $4.66/lb, Mo, $20/lb, Ag, $40/oz and Au, $2,890/oz. The mineral reserve estimate was prepared by Dr. Siwei He, an external consultant at CGDI. He is a qualified QP under the Canadian NI43-101 standard. A Technical Report titled "NI43-101 Technical Report for the JIAMA Copper Polymetallic Mine, Tibet Autonomous Region, the People’s Republic of China" with an effective date of June 30, 2026 has been prepared by CGDI and will be filed on SEDAR+. Mr. Tony Guo, a geology consultant to CGDI, a registered geologist (P.Geo) from the Province of British Columbia, Canada, a QP member of the American Mining and Metallurgical Association, and a Qualified Person as defined by NI43-101, reviewed the data supporting the Mineral Resource and Mineral Reserve estimates. He also supervised the estimation work and reviewed all sections of the Technical Report relating to resource and reserve estimates. Mr. Guo has approved the scientific and technical information in this release pertaining to the Jiama Project’s Mineral Resources and Mineral Reserves. Dr. He Siwei, a mining engineering consultant to CGDI, a registered Mining Engineer (P.Eng) from the Province of British Columbia, Canada, a Qualified Person as defined by NI43-101, has reviewed the data for the Mineral Reserves estimates and completed the Reserves estimate of this Technical Report. Mr. He has approved the scientific or technical information pertaining to the Jiama Project’s Mineral Reserves in this release.

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Latest News

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Consensus EPS estimates fall by 13%

Now 21% undervalued after recent price drop

China Gold International Resources Corp Ltd Announces Completion Of Mineral Resource And Reserve Estimate Update And Ni43-101 Technical Report For Jiama Copper Polymetallic Project