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Canadian (TSX) Gold Industry Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies329
  • 7D-6.2%
  • 3M11.4%
  • 1Y110.2%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 6.2%, driven by a pullback from Barrick Mining of 5.9%. This takes the industry's 12 month performance to a gain of 110%. Looking forward, 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
Sun, 15 Mar 2026CA$674.0bCA$95.3bCA$24.3b19.8x27.7x7.1x
Tue, 10 Feb 2026CA$668.9bCA$87.9bCA$18.8b27.6x35.6x7.6x
Thu, 08 Jan 2026CA$647.6bCA$86.0bCA$17.2b23.4x37.7x7.5x
Sat, 06 Dec 2025CA$577.6bCA$85.2bCA$17.5b21.7x32.9x6.8x
Mon, 03 Nov 2025CA$495.4bCA$79.8bCA$13.7b23.4x36x6.2x
Wed, 01 Oct 2025CA$524.8bCA$78.6bCA$12.9b28x40.8x6.7x
Fri, 29 Aug 2025CA$432.5bCA$79.3bCA$12.6b21.5x34.3x5.5x
Sun, 27 Jul 2025CA$373.2bCA$72.9bCA$9.5b20.4x39.1x5.1x
Tue, 24 Jun 2025CA$349.9bCA$67.4bCA$9.0b16.8x39.1x5.2x
Thu, 22 May 2025CA$282.9bCA$50.3bCA$5.9b20.3x48x5.6x
Sat, 19 Apr 2025CA$331.0bCA$63.7bCA$7.2b19.2x46x5.2x
Mon, 17 Mar 2025CA$294.5bCA$65.2bCA$7.0b15.7x42.2x4.5x
Wed, 12 Feb 2025CA$278.5bCA$61.2bCA$2.8b18.4x98.4x4.6x
Fri, 10 Jan 2025CA$245.2bCA$61.6bCA$2.8b14.9x86.5x4x
Sun, 08 Dec 2024CA$242.1bCA$60.6bCA$2.7b13.9x90.3x4x
Tue, 05 Nov 2024CA$255.9bCA$56.1bCA$1.7b20x147.3x4.6x
Thu, 03 Oct 2024CA$243.3bCA$54.4bCA$1.5b18.1x165.1x4.5x
Sat, 31 Aug 2024CA$237.7bCA$54.7bCA$1.4b19.6x170.9x4.3x
Mon, 29 Jul 2024CA$227.1bCA$54.9bCA$1.8b19.9x123.9x4.1x
Wed, 26 Jun 2024CA$211.7bCA$54.7bCA$1.3b20.3x165.9x3.9x
Fri, 24 May 2024CA$221.2bCA$55.0bCA$1.3b19.1x176.8x4x
Sun, 21 Apr 2024CA$211.7bCA$54.4bCA$2.0b19.7x103.4x3.9x
Tue, 19 Mar 2024CA$186.3bCA$54.2bCA$2.1b16.4x89.1x3.4x
Thu, 15 Feb 2024CA$167.6bCA$53.1bCA$2.2b15.5x77.4x3.2x
Sat, 13 Jan 2024CA$199.5bCA$55.7bCA$602.5m15.1x331.2x3.6x
Mon, 11 Dec 2023CA$198.8bCA$56.3bCA$672.2m15.1x295.8x3.5x
Wed, 08 Nov 2023CA$199.2bCA$56.4bCA$914.8m15.6x217.8x3.5x
Fri, 06 Oct 2023CA$184.7bCA$55.0bCA$516.6m14x357.6x3.4x
Sun, 03 Sep 2023CA$202.3bCA$53.6bCA$578.1m15.7x349.9x3.8x
Tue, 01 Aug 2023CA$205.8bCA$51.5bCA$86.7m16.1x2373.7x4x
Thu, 29 Jun 2023CA$195.7bCA$51.6b-CA$51,403,778.0013x-3807.4x3.8x
Sat, 27 May 2023CA$211.5bCA$52.5bCA$74.2m15.2x2851.9x4x
Mon, 24 Apr 2023CA$226.4bCA$52.3bCA$663.3m17.5x341.3x4.3x
Wed, 22 Mar 2023CA$207.4bCA$52.9bCA$2.3b20.8x90.8x3.9x
Price to Earnings Ratio

90.8x


Total Market Cap: CA$207.4bTotal Earnings: CA$2.3bTotal Revenue: CA$52.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gold Industry Price to Earnings3Y Average 37.1x202420252026
Current Industry PE
  • 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 27.7x which is lower than its 3-year average PE of 37.1x.
  • The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 7.1x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 120% 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-1.70%
Materials-4.80%
Metals and Mining-5.80%
Gold-6.25%
Aluminum0%0
Copper-2.01%
Diversified Metals and Mining-4.14%
Steel-7.89%
Precious Metals and Minerals-9.79%
Silver-10.28%
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
WDO Wesdome Gold MinesCA$24.362.9%
+CA$202.8m		56.1%PE10.8x
CBR Cabral GoldCA$1.2041.2%
+CA$97.5m		269.2%PB25.1x
BSX Belo Sun MiningCA$1.299.3%
+CA$61.7m		616.7%PB44.2x
AAUC Allied GoldCA$42.65-0.1%
CA$22.2m		185.5%PS3.6x
RML Rusoro MiningCA$1.132.7%
+CA$18.8m		8.7%PE-10.1x

Latest News

HHE
CA$0.20
First Atlas Resources
7D
105.0%
1Y
141.2%
CBR
CA$1.20
Cabral Gold
7D
41.2%
1Y
269.2%
WPM
CA$192.13
Wheaton Precious Metals
7D
-3.8%
1Y
81.2%
SOI
CA$0.19
Sirios Resources
7D
-9.5%
1Y
322.2%
WDO
CA$24.36
Wesdome Gold Mines
7D
2.9%
1Y
56.1%
ABX
CA$58.09
Barrick Mining
7D
-5.9%
1Y
115.1%
EDV
CA$78.43
Endeavour Mining
7D
-8.6%
1Y
148.7%

EDV: Higher Gold Prices And Capital Returns Will Support Balanced Outlook

Analysts have nudged their fair value estimate for Endeavour Mining higher to CA$95.31 from CA$94.48, as a series of recent price target increases and rating upgrades have fed into slightly revised assumptions on growth, margins and future P/E. Analyst Commentary Recent Street research on Endeavour Mining has been active, with several large firms revisiting their price targets and ratings.
AGI
CA$62.95
Alamos Gold
7D
-7.1%
1Y
74.2%
PAAS
CA$77.04
Pan American Silver
7D
-4.8%
1Y
108.2%
AAUC
CA$42.65
Allied Gold
7D
-0.1%
1Y
185.5%

AAUC: Takeout Bid And Rising Production Will Define Future Return Balance

The analyst price target for Allied Gold has decreased by about CA$0.06 as analysts factor in updated views on revenue growth, profit margins, discount rates and future P/E assumptions, alongside recent takeout related downgrades from several firms. Analyst Commentary Recent Street research around Allied Gold has shifted quickly following the takeout offer, with several firms adjusting both ratings and price targets.
BSX
CA$1.29
Belo Sun Mining
7D
9.3%
1Y
616.7%
K
CA$41.97
Kinross Gold
7D
-5.1%
1Y
151.3%

K: Higher Future P/E Will Likely Overstate Benefits Of Ongoing Projects

Analysts have lifted their Kinross Gold price target from about CA$17.51 to roughly CA$24.28, citing updated assumptions for discount rate, revenue growth, profit margin, and future P/E that collectively reshape their valuation outlook. What's in the News Approved a quarterly dividend of $0.04 per common share for the fourth quarter of 2025, payable on March 26, 2026, to shareholders of record on March 11, 2026, with the payout classified as an eligible dividend for Canadian tax purposes and subject to withholding for non residents (Key Developments).
EQX
CA$20.01
Equinox Gold
7D
-11.3%
1Y
106.3%

EQX: Upgrades And Dividend Initiation Will Support Stronger Medium-Term Profitability

We are lifting our Equinox Gold fair value estimate to CA$33.85 from CA$27.97 as analysts raise price targets across the Street. This reflects updated assumptions for the discount rate, revenue growth, profit margins, and future P/E multiples following several recent upgrades and target hikes at major Canadian banks.
LUG
CA$104.24
Lundin Gold
7D
-9.1%
1Y
135.5%

LUG: Higher Discount Rate Will Cap Upside Despite Strong Mine Performance

The analyst price target for Lundin Gold has been reduced by CA$2 to reflect updated assumptions about slightly higher discount rates and lower profit margins. Analysts are also incorporating new Street research that has recently adjusted targets in both directions.
RML
CA$1.13
Rusoro Mining
7D
2.7%
1Y
8.7%
ZAU
CA$0.35
Zodiac Gold
7D
45.8%
1Y
483.3%