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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies1185
  • 7D-10.0%
  • 3M-2.5%
  • 1Y66.6%
  • YTD-1.4%

Over the last 7 days, the Metals and Mining industry has dropped 10.0%, driven by Barrick Mining declining 9.6%. In contrast, Providence Gold Mines has gained 7,900%. Over the past 12 months, the industry was up 67%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026CA$907.8bCA$161.6bCA$36.2b14.3x25.1x5.6x
Fri, 22 May 2026CA$916.0bCA$156.5bCA$35.2b16x26x5.9x
Sun, 19 Apr 2026CA$1.0tCA$137.3bCA$27.0b19.8x37.9x7.5x
Tue, 17 Mar 2026CA$958.6bCA$138.6bCA$26.1b19.4x36.7x6.9x
Thu, 12 Feb 2026CA$1.0tCA$128.6bCA$19.2b24.9x53.4x8x
Sat, 10 Jan 2026CA$931.0bCA$126.9bCA$17.7b23.6x52.5x7.3x
Mon, 08 Dec 2025CA$815.2bCA$125.5bCA$18.0b21.2x45.2x6.5x
Wed, 05 Nov 2025CA$713.6bCA$120.6bCA$14.4b19.8x49.7x5.9x
Fri, 03 Oct 2025CA$752.2bCA$117.7bCA$12.2b23.1x61.6x6.4x
Sun, 31 Aug 2025CA$615.1bCA$117.5bCA$11.9b16.7x51.5x5.2x
Tue, 29 Jul 2025CA$531.8bCA$110.2bCA$8.6b18.5x62x4.8x
Thu, 26 Jun 2025CA$513.9bCA$109.9bCA$8.2b15.4x62.4x4.7x
Sat, 24 May 2025CA$435.6bCA$92.7bCA$5.4b13.9x80.5x4.7x
Mon, 21 Apr 2025CA$476.2bCA$104.5bCA$5.1b14.1x94.1x4.6x
Wed, 19 Mar 2025CA$467.3bCA$106.9bCA$5.2b12.6x90.3x4.4x
Fri, 14 Feb 2025CA$447.1bCA$112.1bCA$3.9b13.2x113.5x4x
Sun, 12 Jan 2025CA$410.4bCA$112.2bCA$536.7m13.5x764.6x3.7x
Tue, 10 Dec 2024CA$411.6bCA$110.6bCA$356.0m13.7x1156.2x3.7x
Thu, 07 Nov 2024CA$429.1bCA$105.8b-CA$246,334,766.3615x-1742x4.1x
Sat, 05 Oct 2024CA$420.2bCA$105.3b-CA$375,199,690.9117.8x-1119.9x4x
Mon, 02 Sep 2024CA$401.9bCA$105.1b-CA$687,231,329.6917.2x-584.9x3.8x
Wed, 31 Jul 2024CA$395.3bCA$105.1b-CA$291,796,421.8015.3x-1354.8x3.8x
Fri, 28 Jun 2024CA$376.8bCA$104.9b-CA$563,909,095.7215.6x-668.3x3.6x
Sun, 26 May 2024CA$396.6bCA$104.7b-CA$945,430,238.1618x-419.5x3.8x
Tue, 23 Apr 2024CA$376.5bCA$103.7bCA$1.5b17.5x249.4x3.6x
Thu, 21 Mar 2024CA$325.9bCA$102.8bCA$1.3b13.3x250.5x3.2x
Sat, 17 Feb 2024CA$296.7bCA$100.7bCA$5.0b12.7x59.8x2.9x
Mon, 15 Jan 2024CA$340.9bCA$107.3bCA$1.7b12.9x195.1x3.2x
Wed, 13 Dec 2023CA$325.5bCA$108.3bCA$1.8b12.4x182.8x3x
Fri, 10 Nov 2023CA$319.8bCA$109.5bCA$2.1b13.3x151.4x2.9x
Sun, 08 Oct 2023CA$339.2bCA$105.9bCA$1.6b11x212.7x3.2x
Tue, 05 Sep 2023CA$366.5bCA$104.6bCA$1.7b11.3x211.8x3.5x
Thu, 03 Aug 2023CA$364.9bCA$102.7bCA$708.2m11.9x515.3x3.6x
Sat, 01 Jul 2023CA$360.7bCA$104.0bCA$2.5b12x146.6x3.5x
Price to Earnings Ratio

146.6x


Total Market Cap: CA$360.7bTotal Earnings: CA$2.5bTotal Revenue: CA$104.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 282x202420252026
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 25.1x which is lower than its 3-year average PE of 282x.
  • The 3-year average PS ratio of 9.0x is higher than the industry's current PS ratio of 5.6x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 145% 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 Trends

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

CA Market-1.50%
Materials-9.33%
Metals and Mining-9.98%
Aluminum0%0
Steel-5.87%
Diversified Metals and Mining-8.91%
Gold-9.51%
Precious Metals and Minerals-10.93%
Copper-13.30%
Silver-13.34%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 125x.
    • Analysts are expecting annual earnings growth of 16.2%, which is lower than the prior year's growth of 59.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Copper industry, expecting annual earnings growth of 38% over the next 5 years.
  • In contrast, the Gold industry is expected to see its earnings grow by 14% 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
PHD Providence Gold MinesCA$4.007,900.0%
+CA$279.7m		15,900.0%PE-1107.2x
AFM Alphamin ResourcesCA$1.495.7%
+CA$102.8m		79.5%PE7.1x
BZ Benz MiningCA$2.0613.8%
+CA$83.5m		442.1%PB23.4x
MACK Mackay Gold & SilverCA$2.8928.4%
+CA$54.8m		n/an/a
CUU Copper Fox MetalsCA$0.6815.3%
+CA$52.8m		172.0%PB4.6x

Latest News

BZ
CA$2.06
Benz Mining
7D
13.8%
1Y
442.1%
TECK.B
CA$84.73
Teck Resources
7D
-9.7%
1Y
60.2%
FNV
CA$303.74
Franco-Nevada
7D
-5.8%
1Y
34.0%
Narrative Update • Jun 23

FNV: Cobre Panama Restart Will Underpin Future Cash Flow Upside

Franco-Nevada's analyst price target has been nudged higher to CA$417.41 from CA$410.64. Analysts point to upgraded ratings, modest tweaks to growth and discount rate assumptions, and expectations around the Cobre Panama restart as key supports for the revised outlook.
AGI
CA$43.87
Alamos Gold
7D
-18.4%
1Y
23.6%
Narrative Update • Jun 23

AGI: Island Gold District Expansion Will Offset Young-Davidson Production Challenges

Alamos Gold's analyst price target has been reduced to CA$73 from CA$90 as analysts factor in lower near term production expectations at Young-Davidson and updated company guidance, while still highlighting the growing importance of the Island Gold District to the overall story. Analyst Commentary Recent research on Alamos Gold centers on lower production expectations at Young-Davidson and updated company guidance, with price targets adjusted accordingly.
LUN
CA$34.72
Lundin Mining
7D
-15.8%
1Y
150.7%
Analysis Article • Jun 20

Lundin Mining (TSX:LUN) Stock Could Be 9% Undervalued After Vicuña Approval

Lundin Mining (TSX:LUN) is back in focus after its Vicuña Project in Argentina secured RIGI PEELP status and the company used its Capital Markets Day to outline an ambitious copper growth roadmap. See our latest analysis for Lundin Mining. Despite a quiet pullback over the past month, with a 30 day share price return of 2.16% and a 7 day share price return of 1.93% in the red, Lundin Mining’s recent Vicuña approval and growth plans come against a backdrop of strong momentum, including a 90...
CUU
CA$0.68
Copper Fox Metals
7D
15.3%
1Y
172.0%
PHOS
CA$1.90
First Phosphate
7D
16.6%
1Y
512.9%
ETG
CA$2.68
Entrée Resources
7D
10.3%
1Y
29.5%
WPM
CA$165.39
Wheaton Precious Metals
7D
-8.0%
1Y
36.1%
Narrative Update • Jun 17

WPM: Streaming Pipeline And Dividend Policy Will Support Future Upside

Analysts have revised their fair value estimate for Wheaton Precious Metals stock, lowering it from about CA$356 to roughly CA$318, reflecting updated models around revenue growth, margins and future P/E assumptions following recent research updates on the shares. Analyst Commentary Recent research on Wheaton Precious Metals highlights a mix of updated models and refreshed views on the stock, with some bullish analysts taking a more constructive stance following the company's Q1 results and subsequent review cycles.
K
CA$35.53
Kinross Gold
7D
-9.5%
1Y
69.4%
Narrative Update • Jun 16

K: Strong Cash Returns And Buybacks Will Support Future Upside Potential

Analysts have adjusted their view on Kinross Gold, trimming the future P/E assumption while keeping fair value broadly steady. This translates into only a modest change to the implied CA$ price target, as slightly higher projected revenue growth and profit margins offset a small increase in the discount rate.
AFM
CA$1.49
Alphamin Resources
7D
5.7%
1Y
79.5%
ABX
CA$54.21
Barrick Mining
7D
-9.6%
1Y
91.2%
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.
FM
CA$39.03
First Quantum Minerals
7D
-13.5%
1Y
73.1%
MACK
CA$2.89
Mackay Gold & Silver
7D
28.4%
1Y
n/a
SAU
CA$0.20
St. Augustine Gold and Copper
7D
17.1%
1Y
-2.4%
PHD
CA$4.00
Providence Gold Mines
7D
7,900.0%
1Y
15,900.0%