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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies1184
  • 7D1.3%
  • 3M-11.7%
  • 1Y58.2%
  • YTD-3.3%

Over the last 7 days, the Metals and Mining industry has risen 1.3%, and First Quantum Minerals contributed the most with a gain of 3.5%. In the last 12 months, the industry was up 58%. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026CA$846.7bCA$161.6bCA$36.3b14.2x23.3x5.2x
Sun, 31 May 2026CA$974.0bCA$157.2bCA$35.1b16.5x27.7x6.2x
Tue, 28 Apr 2026CA$960.4bCA$138.0bCA$27.1b18.3x35.4x7x
Thu, 26 Mar 2026CA$855.1bCA$138.1bCA$26.0b16.4x32.9x6.2x
Sat, 21 Feb 2026CA$1.0tCA$134.3bCA$23.2b22.7x44.7x7.7x
Mon, 19 Jan 2026CA$987.5bCA$126.9bCA$17.7b24.6x55.7x7.8x
Wed, 17 Dec 2025CA$847.7bCA$125.7bCA$17.5b21.2x48.5x6.7x
Fri, 14 Nov 2025CA$774.0bCA$125.8bCA$18.2b20.5x42.5x6.2x
Sun, 12 Oct 2025CA$747.4bCA$117.9bCA$12.3b24x60.9x6.3x
Tue, 09 Sep 2025CA$648.8bCA$118.1bCA$12.0b20x54.1x5.5x
Thu, 07 Aug 2025CA$546.1bCA$112.5bCA$10.1b18.8x54.1x4.9x
Sat, 05 Jul 2025CA$528.6bCA$109.1bCA$8.1b16.8x65.3x4.8x
Mon, 02 Jun 2025CA$488.9bCA$110.8bCA$8.6b14.8x56.7x4.4x
Wed, 30 Apr 2025CA$473.0bCA$105.4bCA$5.9b13.3x80.6x4.5x
Fri, 28 Mar 2025CA$464.2bCA$107.2bCA$5.1b14.6x90.8x4.3x
Sun, 23 Feb 2025CA$426.8bCA$105.3bCA$3.1b12.2x138.6x4.1x
Tue, 21 Jan 2025CA$407.8bCA$111.5bCA$676.3m13.6x603x3.7x
Thu, 19 Dec 2024CA$401.0bCA$112.2bCA$489.5m13.1x819.2x3.6x
Sat, 16 Nov 2024CA$396.3bCA$109.7bCA$404.5m13x979.6x3.6x
Mon, 14 Oct 2024CA$430.7bCA$106.5b-CA$379,954,524.1617.8x-1133.6x4x
Wed, 11 Sep 2024CA$377.1bCA$105.9b-CA$691,127,774.8615.2x-545.6x3.6x
Fri, 09 Aug 2024CA$359.1bCA$105.3b-CA$189,382,488.3814.3x-1896.4x3.4x
Sun, 07 Jul 2024CA$394.0bCA$104.5b-CA$548,683,440.1715.7x-718x3.8x
Tue, 04 Jun 2024CA$396.2bCA$104.5b-CA$855,183,192.1617x-463.3x3.8x
Thu, 02 May 2024CA$373.1bCA$103.4b-CA$70,872,264.3517x-5264.4x3.6x
Sat, 30 Mar 2024CA$345.9bCA$102.4bCA$1.8b13.9x188x3.4x
Mon, 26 Feb 2024CA$296.2bCA$102.1bCA$3.0b13.9x99.3x2.9x
Wed, 24 Jan 2024CA$324.1bCA$107.6bCA$1.8b13.3x185x3x
Fri, 22 Dec 2023CA$343.1bCA$106.5bCA$1.7b13.7x201.3x3.2x
Sun, 19 Nov 2023CA$327.8bCA$109.0bCA$1.7b12.3x192.5x3x
Tue, 17 Oct 2023CA$346.8bCA$105.6bCA$1.5b11.4x223.8x3.3x
Thu, 14 Sep 2023CA$355.2bCA$104.3bCA$1.7b11.2x205.5x3.4x
Sat, 12 Aug 2023CA$366.8bCA$104.0bCA$1.4b11x257.6x3.5x
Mon, 10 Jul 2023CA$356.2bCA$104.1bCA$2.5b12.2x144.2x3.4x
Price to Earnings Ratio

144.2x


Total Market Cap: CA$356.2bTotal Earnings: CA$2.5bTotal Revenue: CA$104.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 281x202420252026
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 23.3x which is lower than its 3-year average PE of 281x.
  • 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 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 Market0.037%
Materials1.28%
Metals and Mining1.30%
Precious Metals and Minerals5.44%
Silver3.84%
Copper2.91%
Diversified Metals and Mining2.26%
Steel1.99%
Gold0.56%
Aluminum0%0
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 128x.
    • Analysts are expecting annual earnings growth of 17.8%, 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 39% 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
FM First Quantum MineralsCA$38.743.5%
+CA$1.1b		54.2%PS4.1x
IVN Ivanhoe MinesCA$11.116.1%
+CA$912.8m		5.0%PE84.6x
GMIN G Mining VenturesCA$41.539.7%
+CA$872.5m		139.0%PE20.2x
LUN Lundin MiningCA$34.563.0%
+CA$864.3m		131.9%PE17.5x
DSV Discovery MiningCA$8.489.8%
+CA$616.4m		184.6%PE24.8x

Latest News

ERO
CA$37.00
Ero Copper
7D
-1.0%
1Y
61.1%
ELD
CA$47.72
Eldorado Gold
7D
10.4%
1Y
68.6%
ABX
CA$54.25
Barrick Mining
7D
4.1%
1Y
86.2%
AII
CA$22.25
Almonty Industries
7D
-4.5%
1Y
232.6%
WPM
CA$163.93
Wheaton Precious Metals
7D
2.2%
1Y
32.9%
Narrative Update • Jul 01

WPM: Long Term Production Guidance And Streaming Pipeline Will Support Future Upside

Analysts have modestly adjusted the fair value estimate for Wheaton Precious Metals to CA$227.90 from CA$221.95, reflecting updated models after recent quarterly results and a mix of higher and lower Street price targets. Analyst Commentary Recent Street research on Wheaton Precious Metals shows a mixed backdrop, with some analysts fine tuning their models after earnings and others marking down fair value estimates.
FM
CA$39.35
First Quantum Minerals
7D
5.1%
1Y
56.6%
SVM
CA$14.55
Silvercorp Metals
7D
-3.4%
1Y
130.2%
K
CA$35.04
Kinross Gold
7D
2.9%
1Y
62.6%
Narrative Update • Jun 30

K: Cash Generation And Capital Returns Will Support A Higher Future Share Price

Analysts now cite updated fair value and earnings assumptions in raising their Kinross Gold price target from about CA$65.31 to roughly CA$67.96. What’s in the News for Kinross Gold Kinross Gold is being compared with Newmont in recent coverage that highlights project execution, cash flow trends, and earnings estimates for both companies, with analysts discussing how Kinross stacks up against a larger peer.
GMIN
CA$43.14
G Mining Ventures
7D
13.9%
1Y
148.2%
SLI
CA$3.95
Standard Lithium
7D
-4.6%
1Y
33.9%
Analysis Article • Jun 27

We Think Standard Lithium (CVE:SLI) Can Easily Afford To Drive Business Growth

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
OR
CA$44.46
OR Royalties
7D
-0.4%
1Y
26.5%
Narrative Update • Jun 26

OR: Dividend Hike And Buybacks Will Support Future Upside Potential

Analysts have increased their fair value estimate for OR Royalties from about CA$62.18 to roughly CA$73.81, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E levels. What’s in the News for OR Royalties OR Royalties approved a second quarter 2026 dividend of US$0.065 per common share, an 18.2% increase over the previous quarterly dividend, with payment scheduled for July 15, 2026 to shareholders of record on June 30, 2026.
CS
CA$12.90
Capstone Copper
7D
-1.2%
1Y
49.7%
HBM
CA$32.00
Hudbay Minerals
7D
-4.1%
1Y
119.0%
Narrative Update • Jun 24

HBM: Copper Upside Will Hinge On Execution Of New Share Repurchases

Analysts have nudged their fair value estimate for Hudbay Minerals higher, with the updated implied price target rising by about CA$1.77 as they factor in slightly stronger revenue growth assumptions and a modestly higher future P/E multiple, while keeping the discount rate and margin expectations broadly in line. Analyst Commentary Recent research on Hudbay Minerals offers a mix of optimism around sector trends and company specific potential, alongside some caution on execution and valuation.
FNV
CA$308.54
Franco-Nevada
7D
3.4%
1Y
37.0%
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.
EDV
CA$74.40
Endeavour Mining
7D
7.0%
1Y
78.0%
Narrative Update • Jun 23

EDV: Assafou Project Will Drive Future Upside Despite Mixed Street Views

Endeavour Mining's analyst price target has edged lower by about CA$0.30 as analysts slightly trim fair value, revenue growth, and profit margin assumptions while keeping a relatively similar future P/E outlook. Analyst Commentary Recent research on Endeavour Mining shows a mix of optimism and caution, with several firms adjusting price targets in both directions and refining their underlying assumptions on growth, margins, and execution risk.
LAC
CA$5.34
Lithium Americas
7D
-2.4%
1Y
45.5%