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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies1169
  • 7D5.3%
  • 3M2.9%
  • 1Y107.4%
  • YTD15.2%

Over the last 7 days, the Metals and Mining industry has risen 5.3%, driven by gains from Wheaton Precious Metals of 7.1%. This takes the industry's 12 month performance to a gain of 107%. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

Has the Canadian Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026CA$1.0tCA$138.3bCA$27.1b18.6x37x7.2x
Thu, 12 Mar 2026CA$1.0tCA$136.3bCA$25.3b19.1x41.1x7.6x
Sat, 07 Feb 2026CA$933.4bCA$128.6bCA$19.3b24.6x48.2x7.3x
Mon, 05 Jan 2026CA$874.0bCA$125.5bCA$17.5b22.6x50x7x
Wed, 03 Dec 2025CA$816.7bCA$126.9bCA$18.4b20.6x44.3x6.4x
Fri, 31 Oct 2025CA$706.8bCA$118.9bCA$13.8b21.2x51.3x5.9x
Sun, 28 Sep 2025CA$732.6bCA$118.4bCA$12.1b21.6x60.6x6.2x
Tue, 26 Aug 2025CA$592.3bCA$118.4bCA$12.2b17.2x48.7x5x
Thu, 24 Jul 2025CA$543.0bCA$109.0bCA$8.1b17.3x67.3x5x
Sat, 21 Jun 2025CA$515.4bCA$110.1bCA$8.3b15.4x62.4x4.7x
Mon, 19 May 2025CA$417.7bCA$94.1bCA$5.6b13x74.8x4.4x
Wed, 16 Apr 2025CA$469.9bCA$105.2bCA$5.2b14.7x91x4.5x
Fri, 14 Mar 2025CA$440.3bCA$107.6bCA$5.3b11.8x83.7x4.1x
Sun, 09 Feb 2025CA$439.0bCA$111.3bCA$715.1m13.4x613.8x3.9x
Tue, 07 Jan 2025CA$404.0bCA$111.6bCA$504.5m13.4x800.7x3.6x
Thu, 05 Dec 2024CA$418.8bCA$109.9bCA$324.7m13.5x1289.8x3.8x
Sat, 02 Nov 2024CA$434.4bCA$108.1b-CA$566,512,321.6115.2x-766.9x4x
Mon, 30 Sep 2024CA$426.5bCA$105.0b-CA$393,933,221.3718.3x-1082.7x4.1x
Wed, 28 Aug 2024CA$411.2bCA$104.9b-CA$618,192,045.8016.3x-665.2x3.9x
Fri, 26 Jul 2024CA$395.7bCA$104.9b-CA$370,816,219.4416.2x-1067.2x3.8x
Sun, 23 Jun 2024CA$373.0bCA$104.9b-CA$563,697,498.6216.5x-661.7x3.6x
Tue, 21 May 2024CA$411.1bCA$104.3b-CA$925,232,305.9918.1x-444.3x3.9x
Thu, 18 Apr 2024CA$371.5bCA$103.9bCA$1.5b17.3x242.7x3.6x
Sat, 16 Mar 2024CA$330.2bCA$103.1bCA$1.4b13.4x241.8x3.2x
Mon, 12 Feb 2024CA$297.7bCA$100.0bCA$3.1b12.7x96.7x3x
Wed, 10 Jan 2024CA$336.5bCA$107.2bCA$1.7b12.8x193.7x3.1x
Fri, 08 Dec 2023CA$335.9bCA$108.3bCA$1.8b12.7x188.6x3.1x
Sun, 05 Nov 2023CA$335.3bCA$107.4bCA$1.7b14x197.9x3.1x
Tue, 03 Oct 2023CA$341.5bCA$106.0bCA$1.6b11.1x212.7x3.2x
Thu, 31 Aug 2023CA$365.7bCA$104.2bCA$1.6b11.3x225.5x3.5x
Sat, 29 Jul 2023CA$369.3bCA$101.5bCA$918.8m13.4x402x3.6x
Mon, 26 Jun 2023CA$354.5bCA$103.6bCA$2.3b12.6x151.3x3.4x
Wed, 24 May 2023CA$375.4bCA$105.5bCA$2.7b14.7x137.5x3.6x
Fri, 21 Apr 2023CA$399.2bCA$107.5bCA$5.2b13.3x76.5x3.7x
Price to Earnings Ratio

76.5x


Total Market Cap: CA$399.2bTotal Earnings: CA$5.2bTotal Revenue: CA$107.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 288.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Metals and Mining 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 37.0x which is lower than its 3-year average PE of 288x.
  • The 3-year average PS ratio of 8.8x is higher than the industry's current PS ratio of 7.2x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 73% per year over the last three years.
  • Revenues for these companies have grown 8.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Materials industry?

CA Market2.40%
Materials4.70%
Metals and Mining5.26%
Copper8.83%
Diversified Metals and Mining7.72%
Gold4.59%
Precious Metals and Minerals3.78%
Silver0.45%
Steel0.29%
Aluminum0%0
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 32.8%, which is lower than the prior year's growth of 1,436.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 73% over the next 5 years.
  • However this is lower than its past earnings growth rate of 188% per year.
  • In contrast, the Gold industry is expected to see its earnings grow by 18% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
WPM Wheaton Precious MetalsCA$199.817.1%
+CA$6.0b		74.9%PE44.7x
LUN Lundin MiningCA$39.4812.5%
+CA$3.8b		272.8%PE23.4x
ABX Barrick MiningCA$59.383.8%
+CA$3.6b		109.5%PE14.5x
K Kinross GoldCA$46.346.1%
+CA$3.2b		130.2%PE16.8x
TECK.B Teck ResourcesCA$79.187.6%
+CA$2.7b		69.1%PE27.7x

Latest News

NOU
CA$2.46
Nouveau Monde Graphite
7D
-22.2%
1Y
7.4%
IVN
CA$12.00
Ivanhoe Mines
7D
14.3%
1Y
-0.5%
LTH
CA$0.91
Lithium Ionic
7D
-33.0%
1Y
16.0%
OR
CA$54.44
OR Royalties
7D
-1.7%
1Y
72.4%
AG
CA$28.70
First Majestic Silver
7D
-3.7%
1Y
210.9%

AG: Jerritt Canyon Restart And Buybacks Will Support A Stronger Outlook

Analysts have raised their price target on First Majestic Silver from CA$21 to CA$40. This reflects updated views on its fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.
ABX
CA$59.38
Barrick Mining
7D
3.8%
1Y
109.5%
TECK.B
CA$79.18
Teck Resources
7D
7.6%
1Y
69.1%
GTWO
CA$11.90
G2 Goldfields
7D
105.9%
1Y
236.2%
EDV
CA$90.15
Endeavour Mining
7D
8.5%
1Y
141.2%

EDV: Mixed Rating Shifts And Gold Price Outlook Will Shape Returns

Endeavour Mining's updated fair value estimate has been trimmed by about CA$0.73 per share as analysts adjust price targets in light of recent mixed target moves and a slightly higher discount rate, while still reflecting solid long term assumptions on revenue growth, profit margins and future P/E levels. Analyst Commentary Recent Street research on Endeavour Mining has been mixed, with a cluster of price target changes and rating updates that give you a useful snapshot of how the stock is being viewed on both the upside and the downside.
RML
CA$1.08
Rusoro Mining
7D
-14.3%
1Y
54.3%
LUN
CA$39.48
Lundin Mining
7D
12.5%
1Y
272.8%

LUN: Future Returns Will Reflect Expanded Caserones Stake And Copper Exposure

The analyst price target for Lundin Mining has been raised by CA$0.60 to CA$39.14, with analysts attributing the change to updated assumptions for higher revenue growth, stronger profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research on Lundin Mining shows a mix of optimism and caution, with several firms adjusting price targets and ratings in different directions.
K
CA$46.34
Kinross Gold
7D
6.1%
1Y
130.2%
WPM
CA$199.81
Wheaton Precious Metals
7D
7.1%
1Y
74.9%

WPM: Higher P/E Assumptions And Robust Pipeline Will Drive Future Upside

The analyst price target for Wheaton Precious Metals has been revised from CA$180.53 to CA$235.28, with analysts attributing the change to a higher assumed future P/E multiple and updated Street research that reflects recent price target increases and an "extremely robust" opportunity pipeline. Analyst Commentary Recent Street research around Wheaton Precious Metals spans a range of views, from higher price targets tied to an "extremely robust" opportunities pipeline and updated metal price forecasts, to more cautious adjustments that flag potential risks around valuation, execution and long term growth expectations.
QIMC
CA$1.06
Quebec Innovative Materials
7D
-25.9%
1Y
523.5%
LUNR
CA$24.38
LunR Royalties
7D
-14.6%
1Y
n/a