Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Metals and Mining Industry Analysis

UpdatedSep 02, 2026
DataAggregated Company Financials
Companies1205
  • 7D-9.2%
  • 3M4.9%
  • 1Y56.3%
  • YTD12.5%

Over the last 7 days, the Metals and Mining industry has dropped 9.2%, driven by declines in Barrick Mining and Wheaton Precious Metals of 11% and 11%, respectively. Meanwhile, Tintina Mines actually outperformed within the industry, gaining 8.0% in the last week. Over the past 12 months, the industry was up 56%. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 03 Sep 2026CA$1.0tCA$170.9bCA$41.0b16.3x25.2x6x
Sat, 01 Aug 2026CA$840.0bCA$162.7bCA$37.6b14.3x22.3x5.2x
Mon, 29 Jun 2026CA$847.8bCA$161.3bCA$36.3b14.1x23.4x5.3x
Wed, 27 May 2026CA$954.9bCA$157.2bCA$35.3b16.1x27x6.1x
Fri, 24 Apr 2026CA$975.7bCA$136.9bCA$26.9b18.3x36.2x7.1x
Sun, 22 Mar 2026CA$812.3bCA$137.3bCA$25.8b16.3x31.5x5.9x
Tue, 17 Feb 2026CA$1.0tCA$129.0bCA$19.3b25.3x53.2x8x
Thu, 15 Jan 2026CA$980.1bCA$126.7bCA$17.7b24.7x55.4x7.7x
Sat, 13 Dec 2025CA$854.2bCA$125.7bCA$17.5b21.5x48.8x6.8x
Mon, 10 Nov 2025CA$716.4bCA$124.4bCA$16.1b20.7x44.4x5.8x
Wed, 08 Oct 2025CA$762.3bCA$117.6bCA$12.2b23.5x62.4x6.5x
Fri, 05 Sep 2025CA$635.9bCA$118.2bCA$12.0b18.3x52.9x5.4x
Sun, 03 Aug 2025CA$517.7bCA$112.8bCA$10.0b18.8x51.8x4.6x
Tue, 01 Jul 2025CA$511.9bCA$109.2bCA$8.1b16.2x62.9x4.7x
Thu, 29 May 2025CA$488.8bCA$111.4bCA$8.6b14.2x56.5x4.4x
Sat, 26 Apr 2025CA$476.6bCA$105.6bCA$5.9b13.4x80.4x4.5x
Mon, 24 Mar 2025CA$466.9bCA$107.4bCA$5.4b14.2x86.3x4.3x
Wed, 19 Feb 2025CA$435.8bCA$111.8bCA$3.9b13x112.2x3.9x
Fri, 17 Jan 2025CA$405.9bCA$112.0bCA$702.0m13.5x578.3x3.6x
Sun, 15 Dec 2024CA$407.2bCA$111.0bCA$456.0m13.6x893x3.7x
Tue, 12 Nov 2024CA$423.7bCA$108.4bCA$388.9m13.7x1089.3x3.9x
Thu, 10 Oct 2024CA$415.5bCA$106.2b-CA$403,648,837.3917.8x-1029.4x3.9x
Sat, 07 Sep 2024CA$372.5bCA$105.6b-CA$696,555,405.6615.2x-534.8x3.5x
Mon, 05 Aug 2024CA$385.4bCA$106.1b-CA$332,728,213.9214.6x-1158.3x3.6x
Wed, 03 Jul 2024CA$375.5bCA$104.7b-CA$556,830,926.5115.2x-674.4x3.6x
Fri, 31 May 2024CA$399.7bCA$104.7b-CA$875,764,780.6817.7x-456.4x3.8x
Sun, 28 Apr 2024CA$384.2bCA$102.8bCA$381.9m17x1006.2x3.7x
Tue, 26 Mar 2024CA$330.0bCA$103.3bCA$1.3b13.5x250.9x3.2x
Thu, 22 Feb 2024CA$298.1bCA$100.1bCA$2.6b13.3x113.9x3x
Sat, 20 Jan 2024CA$325.0bCA$107.6bCA$1.7b12.5x185.9x3x
Mon, 18 Dec 2023CA$341.9bCA$107.1bCA$1.7b13.1x199.7x3.2x
Wed, 15 Nov 2023CA$318.1bCA$109.0bCA$1.9b12.4x171x2.9x
Fri, 13 Oct 2023CA$343.1bCA$106.1bCA$1.6b11.1x217.2x3.2x
Sun, 10 Sep 2023CA$352.9bCA$104.8bCA$1.7b11x201.7x3.4x
Price to Earnings Ratio

201.7x


Total Market Cap: CA$352.9bTotal Earnings: CA$1.7bTotal Revenue: CA$104.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 268x202420252026
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 25.2x which is lower than its 3-year average PE of 268x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 186% per year over the last three years.
  • Revenues for these companies have grown 18% 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-2.59%
Materials-8.33%
Metals and Mining-9.25%
Aluminum0%0
Steel-1.51%
Silver-5.85%
Diversified Metals and Mining-7.01%
Precious Metals and Minerals-7.44%
Copper-8.54%
Gold-10.15%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 138x.
    • Analysts are expecting annual earnings growth of 9.5%, which is lower than the prior year's growth of 63.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 57% over the next 5 years.
  • However this is lower than its past earnings growth rate of 129% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 9.5% 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
TTS Tintina MinesCA$2.4517.2%
+CA$382.9m		790.9%PB427.4x
CGG China Gold International ResourcesCA$46.281.9%
+CA$348.8m		105.7%PE17.1x
AYA Aya Gold & SilverCA$39.221.9%
+CA$108.0m		168.8%PE36.2x
AG First Majestic SilverCA$29.330.7%
+CA$93.7m		124.2%PE30x
NCX NorthIsle Copper and GoldCA$4.576.3%
+CA$90.0m		247.5%PB11.3x

Latest News

LUG
CA$97.47
Lundin Gold
7D
-7.4%
1Y
8.0%
AYA
CA$39.22
Aya Gold & Silver
7D
1.9%
1Y
168.8%
BZ
CA$3.82
Benz Mining
7D
-5.2%
1Y
257.0%
AG
CA$29.33
First Majestic Silver
7D
0.7%
1Y
124.2%
TTS
CA$2.45
Tintina Mines
7D
17.2%
1Y
790.9%
NCX
CA$4.57
NorthIsle Copper and Gold
7D
6.3%
1Y
247.5%
CGG
CA$46.28
China Gold International Resources
7D
1.9%
1Y
105.7%
ABX
CA$61.11
Barrick Mining
7D
-6.2%
1Y
63.3%
FM
CA$43.50
First Quantum Minerals
7D
-9.3%
1Y
73.6%
Narrative Update • Aug 26

FM: Cobre Panama Restart And Taca Taca Partnership Talks Will Drive Future Re Rating

The analyst price target for First Quantum Minerals has been adjusted slightly lower, with a modest fair value change that is consistent with recent Street revisions. These reflect mixed price target moves around CA$41 to CA$55, updated revenue growth and profit margin assumptions, and a higher future P/E estimate.
WPM
CA$208.69
Wheaton Precious Metals
7D
-3.5%
1Y
47.5%
Narrative Update • Aug 26

WPM: Future Streaming Deals And Production Outlook Will Support Upside Potential

Analysts now place the fair value for Wheaton Precious Metals at about CA$346.14 compared with CA$309.07 previously, reflecting updated assumptions around revenue, profit margins and future P/E following recent price target revisions and commodity price outlook changes across the Street. Analyst Commentary Recent research on Wheaton Precious Metals shows a cluster of lower price targets, but many bullish analysts still describe the stock as attractive within the precious metals royalty space.
FNV
CA$360.09
Franco-Nevada
7D
-2.9%
1Y
37.2%
K
CA$41.85
Kinross Gold
7D
-6.6%
1Y
38.9%
Narrative Update • Aug 25

K: Cash Returns And Investment Grade Rating Will Support Future Upside Potential

Analysts have lowered their price target for Kinross Gold to CA$52.78 from CA$61.02 as they now apply a slightly higher discount rate, expect more modest revenue growth and profit margins, and use a higher future P/E multiple in their valuation work. What's in the News for Kinross Gold Riley Gold Corp.
EDR
CA$15.40
Endeavour Silver
7D
2.0%
1Y
73.0%
LUN
CA$35.42
Lundin Mining
7D
-7.0%
1Y
115.1%
Narrative Update • Aug 20

LUN: Tighter Copper Market And Vicuña Project Will Support Future Upside

The updated analyst price target for Lundin Mining has been revised slightly lower to CA$49.55 from CA$50.86, as analysts factor in more conservative revenue growth assumptions, along with a small adjustment to the discount rate and future P/E expectations. Analyst Commentary Recent Street research on Lundin Mining shows a mix of views, with price targets and ratings spread across the spectrum.
TECK.B
CA$92.82
Teck Resources
7D
-6.0%
1Y
99.2%
MNO
CA$1.89
Meridian Mining
7D
8.6%
1Y
122.4%