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

Canadian (TSX) Metals and Mining Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies1160
  • 7D9.0%
  • 3M36.8%
  • 1Y159.5%
  • YTD30.8%

Over the last 7 days, the Metals and Mining industry has risen 9.0%, driven by gains in Almonty Industries and Alamos Gold of 16% and 3.1%, respectively. In the same time, Barrick Mining was down 7.1%. This takes the industry's 12 month performance to a gain of 159%. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026CA$1.2tCA$135.2bCA$24.8b24.5x46.4x8.5x
Fri, 30 Jan 2026CA$1.1tCA$124.0bCA$17.2b27.8x64.6x9x
Sun, 28 Dec 2025CA$896.3bCA$125.0bCA$17.4b21.9x51.5x7.2x
Tue, 25 Nov 2025CA$730.3bCA$127.8bCA$18.7b19.2x39x5.7x
Thu, 23 Oct 2025CA$707.7bCA$117.6bCA$12.2b20.3x57.9x6x
Sat, 20 Sep 2025CA$663.8bCA$117.3bCA$11.9b20.1x55.6x5.7x
Mon, 18 Aug 2025CA$573.1bCA$118.0bCA$12.1b17.1x47.5x4.9x
Wed, 16 Jul 2025CA$529.5bCA$109.9bCA$8.2b17.9x64.4x4.8x
Fri, 13 Jun 2025CA$513.1bCA$110.0bCA$8.4b15.8x61x4.7x
Sun, 11 May 2025CA$489.9bCA$111.3bCA$8.5b14.2x57.6x4.4x
Tue, 08 Apr 2025CA$409.8bCA$107.0bCA$5.4b12.3x76.2x3.8x
Thu, 06 Mar 2025CA$422.4bCA$106.3bCA$3.4b12x125.1x4x
Sat, 01 Feb 2025CA$426.2bCA$112.9bCA$688.5m13.1x619.1x3.8x
Mon, 30 Dec 2024CA$394.1bCA$112.1bCA$515.1m12.8x765.1x3.5x
Wed, 27 Nov 2024CA$411.1bCA$109.8bCA$379.8m13.1x1082.4x3.7x
Fri, 25 Oct 2024CA$453.2bCA$105.4b-CA$1,688,125,477.7317.8x-268.5x4.3x
Sun, 22 Sep 2024CA$419.4bCA$105.6b-CA$629,794,981.2516.2x-666x4x
Tue, 20 Aug 2024CA$400.0bCA$106.0b-CA$632,381,372.3214.7x-632.6x3.8x
Thu, 18 Jul 2024CA$418.7bCA$104.3b-CA$114,697,214.7415.4x-3650.8x4x
Sat, 15 Jun 2024CA$370.2bCA$105.1b-CA$613,144,120.9616.2x-603.8x3.5x
Mon, 13 May 2024CA$391.8bCA$104.4b-CA$462,922,866.6316.9x-846.3x3.8x
Wed, 10 Apr 2024CA$368.2bCA$102.6bCA$1.4b17.8x259.7x3.6x
Fri, 08 Mar 2024CA$320.2bCA$102.4bCA$1.2b15.5x268.5x3.1x
Sun, 04 Feb 2024CA$329.8bCA$107.6bCA$1.7b12.9x189.3x3.1x
Tue, 02 Jan 2024CA$345.3bCA$106.3bCA$1.7b14x202.8x3.2x
Thu, 30 Nov 2023CA$340.9bCA$108.3bCA$1.7b13.1x195.4x3.1x
Sat, 28 Oct 2023CA$346.8bCA$107.0bCA$1.3b11.6x272.3x3.2x
Mon, 25 Sep 2023CA$351.1bCA$104.9bCA$1.6b10.7x221x3.3x
Wed, 23 Aug 2023CA$352.5bCA$104.3bCA$1.4b11.3x248.8x3.4x
Fri, 21 Jul 2023CA$372.7bCA$103.6bCA$2.4b12.5x152.9x3.6x
Sun, 18 Jun 2023CA$367.0bCA$103.7bCA$2.4b12.1x154.1x3.5x
Tue, 16 May 2023CA$397.1bCA$105.4bCA$2.8b14.2x143.2x3.8x
Thu, 13 Apr 2023CA$400.5bCA$107.2bCA$5.2b15x76.6x3.7x
Sat, 11 Mar 2023CA$339.3bCA$109.4bCA$7.7b13.3x43.8x3.1x
Price to Earnings Ratio

43.8x


Total Market Cap: CA$339.3bTotal Earnings: CA$7.7bTotal Revenue: CA$109.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 288.9x202420252026
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 46.4x which is lower than its 3-year average PE of 289x.
  • The industry is trading close to its 3-year average PS ratio of 8.7x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 47% per year over the last three years.
  • Revenues for these companies have grown 7.3% 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 Market1.82%
Materials8.55%
Metals and Mining9.01%
Silver13.91%
Gold9.23%
Copper8.71%
Precious Metals and Minerals7.27%
Diversified Metals and Mining7.16%
Aluminum0%0
Steel-1.58%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 37.8%, which is higher than its past year's earnings growth of 31.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 64% over the next 5 years.
  • However this is lower than its past earnings growth rate of 496% per year.
  • In contrast, the Steel industry is expected to see its earnings grow by 6.7% 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
AII Almonty IndustriesCA$26.4316.3%
+CA$1.0b		873.5%PS245.2x
AGI Alamos GoldCA$71.433.1%
+CA$902.7m		113.4%PE24.8x
NG NovaGold ResourcesCA$17.378.6%
+CA$600.1m		286.9%PB34x
PPTA Perpetua ResourcesCA$46.858.2%
+CA$443.2m		279.0%PB8x
HSLV Highlander SilverCA$9.63-0.2%
CA$345.5m		432.0%PB17.6x

Latest News

WPM
CA$206.91
Wheaton Precious Metals
7D
-4.1%
1Y
107.3%

WPM: Long Term Metal Price Assumptions Will Restrain Upside Potential

The analyst price target for Wheaton Precious Metals has been revised slightly higher to CA$188. Analysts linked their updated views to refreshed 2026 metal price forecasts and company guidance that was broadly in line with expectations.
TECK.B
CA$75.77
Teck Resources
7D
-7.5%
1Y
35.5%

TECK.B: Elevated Expectations Will Depend On Merger Execution Risk

The analyst price target for Teck Resources in our model has been raised from CA$45.79 to CA$57.90, as analysts factor in updated assumptions around potential merger synergies, revised operating numbers, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research on Teck Resources has featured a series of price target revisions and rating changes that give you a mixed picture.
ASCU
CA$8.22
Arizona Sonoran Copper
7D
16.9%
1Y
367.0%
K
CA$46.17
Kinross Gold
7D
-6.7%
1Y
186.9%
LUN
CA$38.72
Lundin Mining
7D
-12.8%
1Y
240.8%
PAAS
CA$84.19
Pan American Silver
7D
-6.0%
1Y
145.6%
AUXX
CA$1.78
Gold X2 Mining
7D
22.8%
1Y
547.3%
HSLV
CA$9.63
Highlander Silver
7D
-0.2%
1Y
432.0%
DBG
CA$2.70
Doubleview Gold
7D
74.2%
1Y
382.1%
ABX
CA$63.30
Barrick Mining
7D
-7.1%
1Y
146.5%
AGI
CA$71.43
Alamos Gold
7D
3.1%
1Y
113.4%
NG
CA$17.37
NovaGold Resources
7D
8.6%
1Y
286.9%
FM
CA$36.68
First Quantum Minerals
7D
-8.8%
1Y
117.2%
FNV
CA$358.28
Franco-Nevada
7D
-4.3%
1Y
73.3%
PPTA
CA$46.85
Perpetua Resources
7D
8.2%
1Y
279.0%
AII
CA$26.43
Almonty Industries
7D
16.3%
1Y
873.5%