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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedJun 21, 2026
DataAggregated Company Financials
Companies1184
  • 7D0.8%
  • 3M5.8%
  • 1Y71.5%
  • YTD2.4%

Last week, the Metals and Mining industry hasn't moved much but Franco-Nevada is up 3.7% in that time. The past year has been better, since the industry has gained 71% in that time. 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
Sun, 21 Jun 2026CA$897.6bCA$161.3bCA$36.1b14.2x24.8x5.6x
Tue, 19 May 2026CA$933.0bCA$156.2bCA$35.1b16.6x26.6x6x
Thu, 16 Apr 2026CA$1.0tCA$137.8bCA$27.0b19.4x38x7.4x
Sat, 14 Mar 2026CA$1.0tCA$138.6bCA$26.1b17.6x38.5x7.3x
Mon, 09 Feb 2026CA$975.8bCA$128.6bCA$19.3b24.9x50.4x7.6x
Wed, 07 Jan 2026CA$905.3bCA$126.1bCA$17.6b23.3x51.5x7.2x
Fri, 05 Dec 2025CA$820.8bCA$126.5bCA$18.2b21.2x45x6.5x
Sun, 02 Nov 2025CA$713.7bCA$119.8bCA$14.1b20.9x50.5x6x
Tue, 30 Sep 2025CA$728.8bCA$117.3bCA$12.2b21.3x59.9x6.2x
Thu, 28 Aug 2025CA$603.6bCA$117.9bCA$12.1b17.4x50.1x5.1x
Sat, 26 Jul 2025CA$532.4bCA$109.7bCA$8.3b17x64.5x4.9x
Mon, 23 Jun 2025CA$512.9bCA$110.1bCA$8.3b15.5x62x4.7x
Wed, 21 May 2025CA$417.7bCA$93.8bCA$5.6b13.2x74.8x4.5x
Fri, 18 Apr 2025CA$482.3bCA$104.3bCA$5.0b14.2x95.7x4.6x
Sun, 16 Mar 2025CA$457.9bCA$107.2bCA$5.1b12.5x89.8x4.3x
Tue, 11 Feb 2025CA$439.1bCA$111.5bCA$720.8m13.8x609.1x3.9x
Thu, 09 Jan 2025CA$402.5bCA$111.9bCA$514.5m13.6x782.3x3.6x
Sat, 07 Dec 2024CA$416.2bCA$110.4bCA$351.1m13.8x1185.4x3.8x
Mon, 04 Nov 2024CA$429.2bCA$105.2b-CA$738,824,669.2514.8x-581x4.1x
Wed, 02 Oct 2024CA$420.7bCA$104.8b-CA$378,089,022.5017.1x-1112.7x4x
Fri, 30 Aug 2024CA$398.2bCA$105.2b-CA$667,673,866.0417.1x-596.4x3.8x
Sun, 28 Jul 2024CA$393.2bCA$105.0b-CA$295,680,974.9916.3x-1329.8x3.7x
Tue, 25 Jun 2024CA$373.1bCA$104.7b-CA$567,392,883.8616.2x-657.5x3.6x
Thu, 23 May 2024CA$414.9bCA$104.8b-CA$924,439,122.2016.9x-448.9x4x
Sat, 20 Apr 2024CA$375.0bCA$103.8bCA$1.5b17.4x246.5x3.6x
Mon, 18 Mar 2024CA$334.0bCA$103.1bCA$1.4b13.4x244.9x3.2x
Wed, 14 Feb 2024CA$289.4bCA$100.7bCA$3.1b12.2x93.1x2.9x
Fri, 12 Jan 2024CA$335.9bCA$107.2bCA$1.7b12.4x193.4x3.1x
Sun, 10 Dec 2023CA$335.3bCA$108.3bCA$1.8b12.8x189.2x3.1x
Tue, 07 Nov 2023CA$335.3bCA$107.6bCA$1.8b13.6x184.3x3.1x
Thu, 05 Oct 2023CA$332.3bCA$106.1bCA$1.6b11.2x204.5x3.1x
Sat, 02 Sep 2023CA$366.4bCA$104.6bCA$1.7b11.3x212.7x3.5x
Mon, 31 Jul 2023CA$374.0bCA$102.0bCA$1.0b13.4x371.3x3.7x
Wed, 28 Jun 2023CA$355.9bCA$103.6bCA$2.3b12.6x152.3x3.4x
Price to Earnings Ratio

152.3x


Total Market Cap: CA$355.9bTotal Earnings: CA$2.3bTotal Revenue: CA$103.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 282.4x202420252026
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 24.8x 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 149% 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-0.36%
Materials0.51%
Metals and Mining0.82%
Silver2.20%
Gold1.45%
Aluminum0%0
Precious Metals and Minerals-0.20%
Copper-0.57%
Diversified Metals and Mining-0.69%
Steel-2.32%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 124x.
    • Analysts are expecting annual earnings growth of 16.4%, 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
FNV Franco-NevadaCA$304.323.7%
+CA$2.1b		33.4%PE30.3x
K Kinross GoldCA$36.953.3%
+CA$1.4b		74.0%PE10.9x
SSRM SSR MiningCA$43.5414.3%
+CA$1.1b		148.5%PE11.3x
WPM Wheaton Precious MetalsCA$164.741.5%
+CA$1.1b		34.3%PE29.3x
GMIN G Mining VenturesCA$41.1810.7%
+CA$946.2m		131.3%PE20.1x

Latest News

LUN
CA$37.13
Lundin Mining
7D
-1.9%
1Y
171.8%
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...
AGI
CA$41.92
Alamos Gold
7D
-14.8%
1Y
15.3%
ARTG
CA$32.75
Artemis Gold
7D
-3.1%
1Y
30.2%
FNV
CA$304.32
Franco-Nevada
7D
3.7%
1Y
33.4%
WPM
CA$164.74
Wheaton Precious Metals
7D
1.5%
1Y
34.3%
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.
AII
CA$26.67
Almonty Industries
7D
7.8%
1Y
462.7%
SSRM
CA$43.54
SSR Mining
7D
14.3%
1Y
148.5%
Narrative Update • Jun 16

SSRM: Americas Focus And Buybacks Will Support Future Share Price Returns

Analysts have lifted their fair value estimate for SSR Mining, with the updated implied price target moving from CA$62.51 to CA$68.37 as they factor in the company’s more Canada- and U.S.-focused precious metals portfolio, a slightly higher discount rate, more moderate revenue growth and profit margin assumptions, and a higher future P/E multiple. Analyst Commentary on SSR Mining Stock Recent research coverage on SSR Mining points to a more focused precious metals profile centered on Canada and the U.S., which some bullish analysts view as supportive of a higher valuation multiple over time.
TECK.B
CA$88.93
Teck Resources
7D
-1.9%
1Y
72.7%
PAAS
CA$69.02
Pan American Silver
7D
2.4%
1Y
75.5%
K
CA$36.95
Kinross Gold
7D
3.3%
1Y
74.0%
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.
CGG
CA$25.71
China Gold International Resources
7D
-4.6%
1Y
110.7%
EDV
CA$76.24
Endeavour Mining
7D
5.4%
1Y
81.7%
GMIN
CA$41.18
G Mining Ventures
7D
10.7%
1Y
131.3%
NGEX
CA$25.54
NGEx Minerals
7D
-4.0%
1Y
72.1%
Narrative Update • Jun 05

(Deep Dive) NGEx Minerals, Legendary Lundin Backed, Spectacular Grades + Giant Scale Is A Must Watch

In this video, we break down why NGEx is one of the most exciting copper-gold discovery stories in the market. We cover Lunahuasi’s spectacular high-grade drill results, Los Helados as a massive resource-backed anchor and why the Lundin connection gives this story real strategic weight.
LUNR
CA$20.20
LunR Royalties
7D
-14.8%
1Y
n/a
FM
CA$43.01
First Quantum Minerals
7D
-0.9%
1Y
101.4%