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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies1186
  • 7D-5.4%
  • 3M-3.2%
  • 1Y63.6%
  • YTD-3.3%

Over the last 7 days, the Metals and Mining industry has dropped 8.5%, driven by pullbacks in Barrick Mining and First Quantum Minerals of 5.9% and 13%, respectively. In contrast, Alamos Gold has gained 5.8%. In the past year, the industry has gained 57%. 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
Sat, 27 Jun 2026CA$835.7bCA$161.3bCA$36.2b14.1x23.1x5.2x
Mon, 25 May 2026CA$914.1bCA$157.1bCA$35.3b16x25.9x5.8x
Wed, 22 Apr 2026CA$1.0tCA$136.6bCA$26.8b18.6x37.9x7.4x
Fri, 20 Mar 2026CA$898.0bCA$138.8bCA$26.1b17.4x34.4x6.5x
Sun, 15 Feb 2026CA$1.0tCA$129.0bCA$19.3b25.3x53.2x8x
Tue, 13 Jan 2026CA$975.1bCA$126.6bCA$17.7b23.7x55.2x7.7x
Thu, 11 Dec 2025CA$818.0bCA$125.2bCA$18.0b20.9x45.5x6.5x
Sat, 08 Nov 2025CA$704.8bCA$124.0bCA$16.3b20.5x43.4x5.7x
Mon, 06 Oct 2025CA$752.6bCA$117.6bCA$12.2b24x61.6x6.4x
Wed, 03 Sep 2025CA$615.2bCA$117.9bCA$12.0b17.8x51.4x5.2x
Fri, 01 Aug 2025CA$514.5bCA$111.4bCA$8.8b18.6x58.3x4.6x
Sun, 29 Jun 2025CA$511.8bCA$109.7bCA$8.2b15.1x62.2x4.7x
Tue, 27 May 2025CA$487.8bCA$111.1bCA$8.6b13.9x56.6x4.4x
Thu, 24 Apr 2025CA$472.4bCA$104.8bCA$5.1b13.3x92.3x4.5x
Sat, 22 Mar 2025CA$472.2bCA$107.4bCA$5.4b14x87x4.4x
Mon, 17 Feb 2025CA$435.8bCA$111.7bCA$3.9b12.8x111.4x3.9x
Wed, 15 Jan 2025CA$408.3bCA$111.8bCA$574.8m13.3x710.4x3.7x
Fri, 13 Dec 2024CA$419.0bCA$110.9bCA$374.1m13.3x1120.1x3.8x
Sun, 10 Nov 2024CA$423.7bCA$108.3bCA$398.9m13.8x1062.1x3.9x
Tue, 08 Oct 2024CA$424.5bCA$105.6b-CA$369,292,391.1517.8x-1149.5x4x
Thu, 05 Sep 2024CA$383.0bCA$105.3b-CA$688,883,936.8416.7x-556x3.6x
Sat, 03 Aug 2024CA$395.7bCA$106.3b-CA$359,801,440.0314.6x-1099.9x3.7x
Mon, 01 Jul 2024CA$376.0bCA$104.8b-CA$556,917,019.3215.1x-675.1x3.6x
Wed, 29 May 2024CA$401.6bCA$104.6b-CA$931,792,908.4618.3x-431x3.8x
Fri, 26 Apr 2024CA$375.8bCA$102.8bCA$359.9m17x1044.1x3.7x
Sun, 24 Mar 2024CA$330.4bCA$103.5bCA$1.3b13.3x255.9x3.2x
Tue, 20 Feb 2024CA$299.5bCA$100.7bCA$4.9b12.9x61x3x
Thu, 18 Jan 2024CA$325.8bCA$107.9bCA$1.8b12.6x184.9x3x
Sat, 16 Dec 2023CA$344.0bCA$107.1bCA$1.7b13.1x201.4x3.2x
Mon, 13 Nov 2023CA$318.7bCA$109.4bCA$2.2b11.9x145.3x2.9x
Wed, 11 Oct 2023CA$339.7bCA$105.5bCA$1.5b11x219.4x3.2x
Fri, 08 Sep 2023CA$354.6bCA$105.0bCA$1.8b11x202.1x3.4x
Sun, 06 Aug 2023CA$368.1bCA$103.4bCA$951.9m11.9x386.7x3.6x
Tue, 04 Jul 2023CA$360.7bCA$104.0bCA$2.5b12x146.4x3.5x
Price to Earnings Ratio

146.4x


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 281.7x202420252026
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 22.8x 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 5.1x.
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-0.37%
Materials-5.02%
Metals and Mining-5.41%
Aluminum0%0
Steel-0.48%
Precious Metals and Minerals-2.44%
Silver-3.12%
Gold-4.10%
Diversified Metals and Mining-7.47%
Copper-11.05%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 126x.
    • Analysts are expecting annual earnings growth of 16.8%, 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 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
AGI Alamos GoldCA$44.355.8%
+CA$1.0b		26.4%PE12.4x
FNV Franco-NevadaCA$305.320.3%
+CA$193.5m		38.1%PE30.4x
BZ Benz MiningCA$2.3730.2%
+CA$183.6m		540.5%PB26.9x
DPM DPM MetalsCA$46.131.6%
+CA$161.8m		114.3%PE14.4x
ABRA AbraSilver ResourceCA$14.466.2%
+CA$136.8m		199.4%PB33.9x

Latest News

FF
CA$0.68
First Mining Gold
7D
13.3%
1Y
267.6%
TFPM
CA$42.34
Triple Flag Precious Metals
7D
1.2%
1Y
34.0%
FM
CA$37.30
First Quantum Minerals
7D
-13.3%
1Y
55.9%
Narrative Update • Jun 26

FM: Cobre Panama Restart Progress Will Drive Future Upside Potential

The updated analyst price target for First Quantum Minerals has increased from CA$34.96 to CA$47.06. Analysts attribute this change to recent target increases and rating upgrades that reflect potential benefits from progress around Cobre Panama and a reassessment of the overall risk/reward profile.
LUN
CA$33.73
Lundin Mining
7D
-9.2%
1Y
133.9%
Narrative Update • Jun 25

LUN: Future Returns Will Reflect Chile Copper Expansion And Vicuña Project Progress

The analyst price target for Lundin Mining has been raised from CA$40.80 to CA$42.43, with analysts pointing to updated assumptions for revenue growth, profit margin, and a slightly lower discount rate as key factors behind the change. Analyst Commentary Recent Street research on Lundin Mining shows a mix of optimism and caution, with several firms updating their price targets and ratings as they refine assumptions around growth, execution, and risk.
ABRA
CA$14.46
AbraSilver Resource
7D
6.2%
1Y
199.4%
ABX
CA$52.90
Barrick Mining
7D
-5.9%
1Y
88.7%
Narrative Update • Jun 24

ABX: Buybacks And Reko Diq Reset Will Support Future Rerating Potential

Analysts have raised their fair value estimate for Barrick Mining to CA$98.54 from CA$96.49, citing slightly revised assumptions for the discount rate, revenue growth, profit margin, and future P/E ratio. These adjustments collectively support a higher long-term price target.
HBM
CA$33.04
Hudbay Minerals
7D
-15.5%
1Y
128.3%
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.
BZ
CA$2.37
Benz Mining
7D
30.2%
1Y
540.5%
MTA
CA$10.57
Metalla Royalty & Streaming
7D
9.0%
1Y
102.5%
TECK.B
CA$82.66
Teck Resources
7D
-7.1%
1Y
48.8%
FNV
CA$305.32
Franco-Nevada
7D
0.3%
1Y
38.1%
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$44.35
Alamos Gold
7D
5.8%
1Y
26.4%
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.
DPM
CA$46.13
DPM Metals
7D
1.6%
1Y
114.3%
Narrative Update • Jun 23

DPM: Brevene South Discovery Near Chelopech Will Drive Future Repricing Potential

The analyst price target for DPM Metals has been raised to CA$59 from CA$57, with analysts pointing to updated assumptions on fair value, discount rate, revenue growth, profit margins, and future P/E expectations as key supports for the change. What's in the News for DPM Metals DPM Metals reported a major discovery of high-grade gold copper porphyry mineralization at the Brevene South Porphyry target near the Chelopech mine, with drilling results including 713 metres at 2.52 g/t AuEq from hole EX_BRESPO_03, according to recent exploration updates.
WPM
CA$160.71
Wheaton Precious Metals
7D
-2.4%
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.
PAAS
CA$64.47
Pan American Silver
7D
-6.6%
1Y
69.7%
K
CA$34.38
Kinross Gold
7D
-7.0%
1Y
68.8%
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.