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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies1179
  • 7D-10.0%
  • 3M-9.5%
  • 1Y62.8%
  • YTD-1.8%

In the last week, the Metals and Mining industry is down 10.0% with Wheaton Precious Metals down the most at 12%. Meanwhile, LunR Royalties actually outperformed within the industry, gaining 12% in the last week. This takes the industry's 12 month performance to a gain of 63%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Jun 2026CA$820.1bCA$159.1bCA$35.6b14.1x23.1x5.2x
Mon, 11 May 2026CA$974.6bCA$149.3bCA$32.0b16.7x30.4x6.5x
Wed, 08 Apr 2026CA$954.8bCA$139.2bCA$27.4b17.4x34.9x6.9x
Fri, 06 Mar 2026CA$1.1tCA$136.4bCA$25.0b19.1x42.7x7.8x
Sun, 01 Feb 2026CA$959.5bCA$125.0bCA$17.4b24x55.3x7.7x
Tue, 30 Dec 2025CA$873.8bCA$125.2bCA$17.4b23x50.1x7x
Thu, 27 Nov 2025CA$773.9bCA$127.3bCA$18.6b19.6x41.6x6.1x
Sat, 25 Oct 2025CA$716.5bCA$118.2bCA$13.3b21.2x53.8x6.1x
Mon, 22 Sep 2025CA$691.6bCA$117.3bCA$11.9b20.4x58x5.9x
Wed, 20 Aug 2025CA$572.2bCA$118.4bCA$12.1b15.6x47.2x4.8x
Fri, 18 Jul 2025CA$524.5bCA$110.0bCA$8.2b16.2x63.7x4.8x
Sun, 15 Jun 2025CA$522.8bCA$109.9bCA$8.2b16x63.6x4.8x
Tue, 13 May 2025CA$490.0bCA$111.6bCA$8.6b13.4x57.2x4.4x
Thu, 10 Apr 2025CA$404.7bCA$106.1bCA$5.3b12.3x76.9x3.8x
Sat, 08 Mar 2025CA$434.6bCA$107.1bCA$4.4b11.8x97.9x4.1x
Mon, 03 Feb 2025CA$420.6bCA$112.9bCA$692.3m13.1x607.5x3.7x
Wed, 01 Jan 2025CA$386.6bCA$111.9bCA$491.9m13x786x3.5x
Fri, 29 Nov 2024CA$412.0bCA$109.6bCA$367.7m13x1120.6x3.8x
Sun, 27 Oct 2024CA$447.2bCA$107.4b-CA$846,804,717.4817.4x-528.1x4.2x
Tue, 24 Sep 2024CA$419.4bCA$105.6b-CA$629,794,981.2516.2x-666x4x
Thu, 22 Aug 2024CA$409.2bCA$105.8b-CA$657,117,674.6015.5x-622.7x3.9x
Sat, 20 Jul 2024CA$398.4bCA$104.6b-CA$28,176,625.2215.8x-14140.8x3.8x
Mon, 17 Jun 2024CA$370.9bCA$105.1b-CA$571,847,219.0616.2x-648.6x3.5x
Wed, 15 May 2024CA$388.8bCA$104.3b-CA$491,269,542.5916.2x-791.3x3.7x
Fri, 12 Apr 2024CA$376.3bCA$103.3bCA$1.5b18x257.9x3.6x
Sun, 10 Mar 2024CA$321.7bCA$102.7bCA$1.2b14.8x259.7x3.1x
Tue, 06 Feb 2024CA$302.5bCA$100.5bCA$3.1b12.6x96.8x3x
Thu, 04 Jan 2024CA$340.6bCA$107.0bCA$1.7b13.1x197.6x3.2x
Sat, 02 Dec 2023CA$341.8bCA$107.7bCA$1.7b13.8x197.7x3.2x
Mon, 30 Oct 2023CA$347.2bCA$107.0bCA$1.4b11.9x254.5x3.2x
Wed, 27 Sep 2023CA$340.1bCA$105.1bCA$1.6b10.7x212.3x3.2x
Fri, 25 Aug 2023CA$356.1bCA$104.4bCA$1.4b11.6x254.4x3.4x
Sun, 23 Jul 2023CA$372.5bCA$103.8bCA$2.4b12.7x152.8x3.6x
Tue, 20 Jun 2023CA$366.4bCA$103.7bCA$2.4b12.3x153.6x3.5x
Price to Earnings Ratio

153.6x


Total Market Cap: CA$366.4bTotal Earnings: CA$2.4bTotal Revenue: CA$103.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 283.3x202420252026
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 23.1x which is lower than its 3-year average PE of 283x.
  • The 3-year average PS ratio of 9.0x is higher than the industry's current PS ratio of 5.2x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 146% per year over the last three years.
  • Revenues for these companies have grown 15% 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 Market-1.56%
Materials-9.27%
Metals and Mining-9.99%
Steel0.71%
Aluminum0%0
Diversified Metals and Mining-9.16%
Precious Metals and Minerals-9.59%
Copper-10.08%
Gold-10.21%
Silver-11.22%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 121x.
    • Analysts are expecting annual earnings growth of 11.2%, which is lower than the prior year's growth of 69.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 37% over the next 5 years.
  • However this is lower than its past earnings growth rate of 147% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 11% 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
LUNR LunR RoyaltiesCA$23.1911.8%
+CA$171.7m		n/aPB408.3x
DRX ADF GroupCA$14.6529.1%
+CA$94.2m		75.7%PE14.1x
ARK Arras MineralsCA$1.2029.0%
+CA$33.0m		27.7%n/a
EOX Euromax ResourcesCA$0.06140.0%
+CA$32.8m		n/aPE-8.5x
MKA Mkango ResourcesCA$0.8710.1%
+CA$31.0m		180.6%PS4678.1x

Latest News

HBM
CA$38.84
Hudbay Minerals
7D
8.7%
1Y
195.6%
FNV
CA$293.33
Franco-Nevada
7D
-3.7%
1Y
25.7%
LUG
CA$76.81
Lundin Gold
7D
-1.5%
1Y
4.0%
IVN
CA$11.78
Ivanhoe Mines
7D
5.7%
1Y
19.2%
EQX
CA$14.74
Equinox Gold
7D
-2.1%
1Y
68.8%
K
CA$35.76
Kinross Gold
7D
-2.0%
1Y
66.6%
IMG
CA$23.23
IAMGOLD
7D
8.3%
1Y
124.0%
ABX
CA$56.25
Barrick Mining
7D
2.4%
1Y
91.8%
Narrative Update • Jun 09

ABX: Buybacks And Portfolio Shift Will Support Future Rerating Potential

Analysts have increased their fair value estimate for Barrick Mining from CA$95.63 to CA$96.49, citing updated assumptions for revenue growth, discount rate, profit margin, and future P/E, as reflected in recent Street research. Analyst Commentary Recent Street research on peer companies such as Abacus Global highlights how bullish analysts tend to respond when they see strong execution or a valuation that still looks appealing after a period of gains.
SEA
CA$39.26
Seabridge Gold
7D
-3.9%
1Y
93.6%
AGI
CA$49.19
Alamos Gold
7D
-0.6%
1Y
31.5%
TECK.B
CA$90.61
Teck Resources
7D
5.5%
1Y
72.8%
Narrative Update • Jun 09

TECK.B: Merger Approval Delays Will Pressure Elevated Earnings Expectations

Analysts have adjusted the fair value estimate for Teck Resources to CA$56.07 from CA$55.08, reflecting recent changes in Street price targets and updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. Analyst Commentary Recent Street research on Teck Resources presents a mixed picture, with several institutions adjusting ratings and targets while factoring in valuation, execution and regulatory risks.
EDV
CA$72.34
Endeavour Mining
7D
-0.5%
1Y
63.5%
CS
CA$14.41
Capstone Copper
7D
7.9%
1Y
90.4%
Narrative Update • Jun 04

CS: Royalty Ruling And Project Execution Will Shape Future Share Repricing

Capstone Copper's analyst price target edges higher to CA$15.75 from CA$15.47, as analysts factor in updated fair value, revenue growth, margin assumptions and recent mixed target revisions from CIBC, Canaccord and Scotiabank. Analyst Commentary Recent target revisions present a mixed picture, with some bullish analysts raising their fair value estimates and others trimming targets.
FM
CA$43.39
First Quantum Minerals
7D
8.4%
1Y
106.3%
CGG
CA$26.94
China Gold International Resources
7D
9.8%
1Y
120.1%