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Canadian (TSX) Gold Industry Analysis

UpdatedSep 11, 2025
DataAggregated Company Financials
Companies332
  • 7D5.8%
  • 3M30.2%
  • 1Y93.2%
  • YTDn/a

The Gold industry is up 4.6% in the last week, with Barrick Mining up 8.7%. In the same time, Perpetua Resources was down 10%. This means that the industry has gained 91% over the past year. Earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Tue, 04 Apr 2023CA$222.2bCA$51.8bCA$642.4m23.3x345.8x4.3x
Thu, 02 Mar 2023CA$196.4bCA$52.7bCA$2.8b22.6x69.2x3.7x
Sat, 28 Jan 2023CA$215.1bCA$54.0bCA$5.1b19.9x42.3x4x
Mon, 26 Dec 2022CA$195.8bCA$55.1bCA$5.2b16.5x37.5x3.6x
Wed, 23 Nov 2022CA$186.7bCA$54.2bCA$5.2b15.6x35.8x3.4x
Fri, 21 Oct 2022CA$162.8bCA$56.1bCA$6.4b15.8x25.6x2.9x
Sun, 18 Sep 2022CA$163.6bCA$54.4bCA$6.1b13.6x26.8x3x
Price to Earnings Ratio

26.8x


Total Market Cap: CA$163.6bTotal Earnings: CA$6.1bTotal Revenue: CA$54.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gold Industry Price to Earnings3Y Average 37.5x202320242025
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 37.5x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 14% 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 Market1.17%
Materials4.79%
Metals and Mining5.23%
Gold5.78%
Diversified Metals and Mining6.10%
Steel3.46%
Precious Metals and Minerals1.52%
Copper1.30%
Aluminum0%0
Silver-0.06%
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
ABX Barrick MiningCA$40.929.3%
+CA$6.0b		52.4%PE18.2x
PAAS Pan American SilverCA$50.277.0%
+CA$4.2b		92.1%PE29.3x
FNV Franco-NevadaCA$275.755.1%
+CA$2.6b		67.4%PE48.8x
WPM Wheaton Precious MetalsCA$146.243.3%
+CA$2.1b		81.8%PE60.7x
K Kinross GoldCA$31.805.6%
+CA$2.0b		156.2%PE18.3x

Latest News

IMG
CA$15.12
IAMGOLD
7D
15.2%
1Y
125.3%
PAAS
CA$50.27
Pan American Silver
7D
7.0%
1Y
92.1%
NG
CA$9.18
NovaGold Resources
7D
-0.9%
1Y
69.7%
WPM
CA$146.24
Wheaton Precious Metals
7D
3.3%
1Y
81.8%

Salobo III Streaming Deals Will Shape Future Metals Markets

Analysts modestly raised their price targets for Wheaton Precious Metals to CA$148.53, reflecting strong year-to-date share performance, higher gold and silver prices, and confidence in its robust streaming portfolio, while also cautioning that the stock now appears fully valued after its recent rally. Analyst Commentary Bullish analysts cited rising gold and silver prices as supporting further upside in the company's valuation.
K
CA$31.80
Kinross Gold
7D
5.6%
1Y
156.2%
ASE
CA$1.64
Asante Gold
7D
-3.0%
1Y
18.8%
LUG
CA$93.88
Lundin Gold
7D
4.0%
1Y
232.9%
PPTA
CA$23.98
Perpetua Resources
7D
-9.6%
1Y
107.3%
GAU
CA$3.26
Galiano Gold
7D
-5.0%
1Y
69.8%
WDO
CA$19.18
Wesdome Gold Mines
7D
-1.7%
1Y
50.2%
EQX
CA$14.91
Equinox Gold
7D
18.5%
1Y
94.1%

Greenstone And Valentine Ramp-Ups Will Drive Enduring Potential

The consensus analyst price target for Equinox Gold has been modestly raised to CA$12.73, reflecting improved free cash flow prospects and increased scale following the Calibre Mining acquisition, though execution and sector risks temper optimism. Analyst Commentary Acquisition of Calibre Mining has positioned Equinox Gold as a major gold producer, anchored by significant assets such as the Greenstone and Valentine mines in Canada.
THX
CA$1.11
Thor Explorations
7D
-6.7%
1Y
246.9%

High Gold Expectations Will Invite Mounting Operational Risks

Despite the consensus analyst price target for Thor Explorations holding steady at CA$1.04, the significant rise in its future P/E ratio suggests expectations of lower future earnings growth or higher valuation risk. What's in the News Thor Explorations reported strong initial drilling results from its maiden campaign at the 100%-owned Guitry Gold Project in Côte d'Ivoire, with notable intersections including 14m at 2.59g/t Au from surface, 4m at 6.87g/t Au from 38m, 5m at 12.65g/t Au from 69m, and 17m at 2.16g/t Au from surface.
FNV
CA$275.75
Franco-Nevada
7D
5.1%
1Y
67.4%

Record Gold Prices And Acquisitions Will Unlock Future Markets

Franco-Nevada’s modest price target increase reflects analyst confidence in the company’s resilient deal pipeline and robust asset quality, resulting in a new consensus analyst price target of CA$279.07. Analyst Commentary Modest upward price target revisions followed the Q2 report and related model updates.
ABX
CA$40.92
Barrick Mining
7D
9.3%
1Y
52.4%

Further Upside For Barrick Mining Corporation (TSE:ABX) Shares Could Introduce Price Risks After 26% Bounce

Sep 03
Further Upside For Barrick Mining Corporation (TSE:ABX) Shares Could Introduce Price Risks After 26% Bounce
SAU
CA$0.36
St. Augustine Gold and Copper
7D
-10.0%
1Y
414.3%
AMX
CA$2.66
Amex Exploration
7D
-8.0%
1Y
125.4%