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Canadian (TSX) Gold Industry Analysis

UpdatedDec 14, 2025
DataAggregated Company Financials
Companies325
  • 7D5.3%
  • 3M23.6%
  • 1Y130.6%
  • YTDn/a

In the last week, the Gold industry is up 5.3%, with Wheaton Precious Metals up 8.1%. This takes the industry's 12 month performance to a gain of 131%. Earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Dec 2025CA$604.5bCA$85.5bCA$17.1b22.7x35.4x7.1x
Tue, 11 Nov 2025CA$501.5bCA$83.6bCA$15.7b23.3x32x6x
Thu, 09 Oct 2025CA$534.8bCA$78.8bCA$12.9b26.9x41.4x6.8x
Sat, 06 Sep 2025CA$456.6bCA$79.9bCA$12.6b23.3x36.2x5.7x
Mon, 04 Aug 2025CA$366.3bCA$75.2bCA$10.7b21.1x34.1x4.9x
Wed, 02 Jul 2025CA$339.2bCA$66.8bCA$8.8b16.5x38.4x5.1x
Fri, 30 May 2025CA$334.4bCA$68.5bCA$9.1b16.4x36.9x4.9x
Sun, 27 Apr 2025CA$320.4bCA$63.8bCA$7.2b17.9x44.6x5x
Tue, 25 Mar 2025CA$300.7bCA$65.2bCA$7.2b16x41.7x4.6x
Thu, 20 Feb 2025CA$270.5bCA$62.1bCA$3.9b15.6x69.4x4.4x
Sat, 18 Jan 2025CA$243.7bCA$61.9bCA$2.9b15.4x85.3x3.9x
Mon, 16 Dec 2024CA$241.9bCA$61.0bCA$2.8b13.7x86.9x4x
Wed, 13 Nov 2024CA$235.5bCA$59.0bCA$2.5b14.5x93x4x
Fri, 11 Oct 2024CA$241.2bCA$55.4bCA$1.5b18.2x159.8x4.4x
Sun, 08 Sep 2024CA$224.4bCA$55.0bCA$1.4b18.1x159.8x4.1x
Tue, 06 Aug 2024CA$227.9bCA$55.0bCA$1.8b18x128.3x4.1x
Thu, 04 Jul 2024CA$211.4bCA$54.6bCA$1.3b21.1x164.5x3.9x
Sat, 01 Jun 2024CA$222.2bCA$54.6bCA$1.3b20.7x174.4x4.1x
Mon, 29 Apr 2024CA$212.6bCA$54.1bCA$2.0b18.9x103.8x3.9x
Wed, 27 Mar 2024CA$187.2bCA$54.4bCA$2.0b16.2x93.8x3.4x
Fri, 23 Feb 2024CA$169.6bCA$53.5bCA$3.4b14.6x49.6x3.2x
Sun, 21 Jan 2024CA$189.4bCA$55.9bCA$607.2m14.8x311.9x3.4x
Tue, 19 Dec 2023CA$201.0bCA$55.6bCA$651.7m16.7x308.5x3.6x
Thu, 16 Nov 2023CA$193.9bCA$57.0bCA$741.1m16.5x261.6x3.4x
Sat, 14 Oct 2023CA$197.7bCA$54.8bCA$499.6m15.1x395.7x3.6x
Mon, 11 Sep 2023CA$196.7bCA$53.8bCA$585.7m13.7x335.7x3.7x
Wed, 09 Aug 2023CA$199.2bCA$53.0bCA$397.6m12.9x501x3.8x
Fri, 07 Jul 2023CA$195.7bCA$52.0b-CA$18,007,589.0012.9x-10870.2x3.8x
Sun, 04 Jun 2023CA$213.4bCA$52.1b-CA$37,882,470.0014.9x-5632.9x4.1x
Tue, 02 May 2023CA$227.3bCA$52.5bCA$742.6m15.9x306.1x4.3x
Thu, 30 Mar 2023CA$218.6bCA$52.5bCA$2.2b22.9x98x4.2x
Sat, 25 Feb 2023CA$188.0bCA$53.0bCA$3.1b18.6x61.2x3.5x
Mon, 23 Jan 2023CA$214.4bCA$54.3bCA$5.1b20.4x41.9x4x
Wed, 21 Dec 2022CA$193.7bCA$55.2bCA$5.2b16.5x37x3.5x
Price to Earnings Ratio

37x


Total Market Cap: CA$193.7bTotal Earnings: CA$5.2bTotal Revenue: CA$55.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gold Industry Price to Earnings3Y Average 38x202320242025
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 38.0x.
  • The 3-year average PS ratio of 4.3x 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 48% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Market0.76%
Materials3.83%
Metals and Mining4.01%
Gold5.26%
Silver6.73%
Precious Metals and Minerals4.54%
Copper2.22%
Steel1.14%
Aluminum0%0
Diversified Metals and Mining-1.19%
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
WPM Wheaton Precious MetalsCA$161.748.1%
+CA$5.5b		87.6%PE53.3x
ABX Barrick MiningCA$59.264.3%
+CA$4.2b		147.9%PE20.3x
PAAS Pan American SilverCA$68.4111.5%
+CA$3.0b		116.4%PE33.1x
FNV Franco-NevadaCA$295.695.2%
+CA$2.8b		73.8%PE45x
GMIN G Mining VenturesCA$40.3920.6%
+CA$1.6b		274.0%PE27.3x

Latest News

GMIN
CA$40.39
G Mining Ventures
7D
20.6%
1Y
274.0%
SAU
CA$0.31
St. Augustine Gold and Copper
7D
-6.1%
1Y
313.3%
SEA
CA$41.12
Seabridge Gold
7D
-0.6%
1Y
115.7%
ASE
CA$1.99
Asante Gold
7D
-14.6%
1Y
71.6%
ABX
CA$59.26
Barrick Mining
7D
4.3%
1Y
147.9%

ABX: Activist-Led Split, Payout Moves And Leadership Change Will Shape Outlook

Analysts have modestly raised their price target on Barrick Mining to approximately $62 per share from about $59.50, citing slightly stronger expectations for revenue growth and valuation multiples, despite a marginally lower projected profit margin. What's in the News Barrick's board, under pressure from activist investor Elliott Investment Management, has approved exploring a major corporate split that would spin off its premier North American mining assets into a new listed company.
ELD
CA$47.69
Eldorado Gold
7D
10.9%
1Y
110.2%

ELD: Rising Reserves And Buybacks Will Support Future Share Price Momentum

Analysts have nudged their price target on Eldorado Gold slightly higher to reflect a modest uptick in forecast revenue growth and valuation multiples, partially offset by a small reduction in expected profit margins and a higher discount rate that tempers the overall upside. What's in the News Updated Mineral Reserve and Mineral Resource estimates as of September 30, 2025 show Proven and Probable gold reserves rising to 12.5 million ounces, roughly 5 percent higher than the prior statement.
K
CA$38.46
Kinross Gold
7D
1.9%
1Y
176.7%

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.
AGI
CA$52.99
Alamos Gold
7D
6.2%
1Y
94.6%

AGI: Rising Price Objective Will Support Upside From Stronger Fourth Quarter Output

Alamos Gold's analyst price target has been raised modestly, with analysts citing sustained operational momentum and an updated valuation framework. Despite slightly higher discount rates and softer growth and margin assumptions, this framework still supports multiple expansion and a new target of about C$51 per share.
WPM
CA$161.74
Wheaton Precious Metals
7D
8.1%
1Y
87.6%

WPM: Rising Gold And Silver Prices Will Drive Long-Term Upside

Analysts have nudged their price targets on Wheaton Precious Metals modestly higher, with incremental increases such as BofA's move to $133 and Scotiabank's lift to $128. These adjustments reflect expectations of stronger precious metals pricing and resilient demand despite a mixed global macro backdrop.
CGG
CA$28.88
China Gold International Resources
7D
-2.0%
1Y
305.0%

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
PAAS
CA$68.41
Pan American Silver
7D
11.5%
1Y
116.4%

Pan American Silver Corp. (TSE:PAAS) Stock Rockets 31% As Investors Are Less Pessimistic Than Expected

Dec 02
Pan American Silver Corp. (TSE:PAAS) Stock Rockets 31% As Investors Are Less Pessimistic Than Expected
FNV
CA$295.69
Franco-Nevada
7D
5.2%
1Y
73.8%

FNV: Rising Precious Metal Prices And New Asset Contributions Will Drive Upside Momentum

The analyst consensus price target for Franco-Nevada has edged higher from approximately $341.26 to $343.38. Analysts cite ongoing strong commodity prices, updated royalty valuations, and continued optimism for key asset contributions as supporting factors behind the modest increase.
RML
CA$0.96
Rusoro Mining
7D
-8.6%
1Y
5.5%
NG
CA$13.36
NovaGold Resources
7D
-1.7%
1Y
174.3%
NFG
CA$3.93
New Found Gold
7D
-8.8%
1Y
70.9%
BYN
CA$0.94
Banyan Gold
7D
-6.0%
1Y
408.1%