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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedOct 02, 2025
DataAggregated Company Financials
Companies1169
  • 7D6.7%
  • 3M42.1%
  • 1Y75.4%
  • YTD83.5%

Over the last 7 days, the Metals and Mining industry has risen 6.7%, and Wheaton Precious Metals contributed the most with a gain of 6.2%. In the same time, St. Augustine Gold and Copper was down 10%. In the last 12 months, the industry was up 75%. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Oct 2025CA$742.5bCA$117.5bCA$12.2b23.9x61x6.3x
Sat, 30 Aug 2025CA$599.9bCA$117.5bCA$12.0b18.5x50x5.1x
Mon, 28 Jul 2025CA$531.8bCA$110.0bCA$8.6b18.3x62.2x4.8x
Wed, 25 Jun 2025CA$511.7bCA$110.0bCA$8.3b15.3x61.3x4.7x
Fri, 23 May 2025CA$438.7bCA$93.5bCA$5.5b13.2x79.6x4.7x
Sun, 20 Apr 2025CA$476.4bCA$104.4bCA$5.0b14.2x94.5x4.6x
Tue, 18 Mar 2025CA$458.0bCA$106.7bCA$5.1b12.3x89.8x4.3x
Thu, 13 Feb 2025CA$439.5bCA$112.3bCA$3.7b13.5x119.4x3.9x
Sat, 11 Jan 2025CA$415.5bCA$112.2bCA$523.2m13.5x794.1x3.7x
Mon, 09 Dec 2024CA$411.8bCA$110.4bCA$352.2m13.8x1169.2x3.7x
Wed, 06 Nov 2024CA$425.9bCA$104.6b-CA$798,829,936.4514.3x-533.2x4.1x
Fri, 04 Oct 2024CA$425.3bCA$105.2b-CA$376,778,413.8617.5x-1128.7x4x
Sun, 01 Sep 2024CA$401.9bCA$105.1b-CA$688,142,943.4117.2x-584.1x3.8x
Tue, 30 Jul 2024CA$393.2bCA$105.2b-CA$307,352,808.2816.4x-1279.2x3.7x
Thu, 27 Jun 2024CA$371.6bCA$104.9b-CA$563,729,138.2615.7x-659.2x3.5x
Sat, 25 May 2024CA$392.1bCA$104.7b-CA$950,079,181.2818x-412.7x3.7x
Mon, 22 Apr 2024CA$376.5bCA$103.7bCA$1.5b17.5x249.4x3.6x
Wed, 20 Mar 2024CA$325.7bCA$103.2bCA$1.4b13.3x232x3.2x
Fri, 16 Feb 2024CA$291.9bCA$100.6bCA$4.9b12.1x59.4x2.9x
Sun, 14 Jan 2024CA$340.9bCA$107.3bCA$1.7b12.9x195.6x3.2x
Tue, 12 Dec 2023CA$330.6bCA$108.2bCA$1.8b12.5x187.1x3.1x
Thu, 09 Nov 2023CA$326.7bCA$108.2bCA$1.8b13x179.9x3x
Sat, 07 Oct 2023CA$339.2bCA$105.9bCA$1.6b11x212.7x3.2x
Mon, 04 Sep 2023CA$366.5bCA$104.6bCA$1.7b11.3x211.2x3.5x
Wed, 02 Aug 2023CA$374.1bCA$102.3bCA$937.1m13.2x399.2x3.7x
Fri, 30 Jun 2023CA$354.2bCA$103.9bCA$2.4b11.8x145x3.4x
Sun, 28 May 2023CA$365.5bCA$106.0bCA$2.7b14.5x133x3.4x
Tue, 25 Apr 2023CA$396.9bCA$107.8bCA$5.2b13.8x76.1x3.7x
Thu, 23 Mar 2023CA$359.4bCA$108.9bCA$7.1b13.3x50.6x3.3x
Sat, 18 Feb 2023CA$350.0bCA$111.5bCA$9.5b13.1x37x3.1x
Mon, 16 Jan 2023CA$373.7bCA$113.3bCA$12.0b13.2x31.1x3.3x
Wed, 14 Dec 2022CA$346.9bCA$114.1bCA$12.1b10.9x28.6x3x
Fri, 11 Nov 2022CA$327.9bCA$113.6bCA$13.6b8.8x24.1x2.9x
Sun, 09 Oct 2022CA$300.8bCA$115.9bCA$16.3b9.1x18.5x2.6x
Price to Earnings Ratio

18.5x


Total Market Cap: CA$300.8bTotal Earnings: CA$16.3bTotal Revenue: CA$115.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 285.5x202320242025
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 60.8x which is lower than its 3-year average PE of 286x.
  • The 3-year average PS ratio of 8.1x is higher than the industry's current PS ratio of 6.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 9.3% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Canadian Materials industry?

CA Market0.89%
Materials5.73%
Metals and Mining6.73%
Precious Metals and Minerals11.33%
Copper9.04%
Silver8.80%
Diversified Metals and Mining7.30%
Gold6.21%
Steel0.13%
Aluminum0%0
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 33.3%, which is higher than its past year's earnings growth of 27.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 78% over the next 5 years.
  • However this is lower than its past earnings growth rate of 403% per year.
  • In contrast, the Steel industry is expected to see its earnings grow by 8.5% 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
WPM Wheaton Precious MetalsCA$155.426.2%
+CA$4.1b		86.8%PE64.1x
K Kinross GoldCA$35.479.6%
+CA$3.8b		168.9%PE20.3x
FNV Franco-NevadaCA$309.966.3%
+CA$3.5b		84.1%PE54.6x
TECK.B Teck ResourcesCA$61.5110.5%
+CA$2.9b		-13.1%PE144.3x
FM First Quantum MineralsCA$31.7710.4%
+CA$2.5b		66.0%PE93.4x

Latest News

MSR
CA$0.41
Minsud Resources
7D
-31.7%
1Y
-51.8%
FM
CA$31.77
First Quantum Minerals
7D
10.4%
1Y
66.0%
ASE
CA$2.23
Asante Gold
7D
-3.3%
1Y
62.8%
OM
CA$0.41
Osisko Metals
7D
-8.8%
1Y
97.6%
LUG
CA$91.50
Lundin Gold
7D
7.1%
1Y
209.2%

Record Gold And Ecuador Mining Will Yield Mixed Outcomes

Analysts have raised Lundin Gold's price target to CA$71.08, citing improved gold production, higher realized prices, and reserve upgrades, while some caution remains due to cost and regulatory risks. Analyst Commentary Bullish analysts are increasing price targets due to improved gold production outlook and strong operational results at Lundin Gold’s flagship mine.
K
CA$35.47
Kinross Gold
7D
9.6%
1Y
168.9%

Persistent Inflation And Uncertainty Will Sustain High Gold Prices

The upward revision in Kinross Gold’s analyst price target reflects increased optimism, driven by a higher future P/E ratio and slightly improved revenue growth forecasts, resulting in a new consensus price target of CA$27.44. What's in the News Kinross Gold added to the FTSE All-World Index.
OLA
CA$14.55
Orla Mining
7D
-0.5%
1Y
166.0%
WPM
CA$155.42
Wheaton Precious Metals
7D
6.2%
1Y
86.8%

Salobo III Streaming Deals Will Shape Future Metals Markets

Analysts have raised their price target for Wheaton Precious Metals to CA$150.28, citing stronger-than-expected recent results, optimism over commodity price trends, and the company’s new growth initiative with the Hemlo Mine acquisition. Analyst Commentary Bullish analysts are positive on the outlook for copper, aluminum, and gold prices, supporting higher valuation multiples for Wheaton Precious Metals.
FNV
CA$309.96
Franco-Nevada
7D
6.3%
1Y
84.1%

Record Gold Prices And Acquisitions Will Unlock Future Markets

Analysts modestly raised Franco-Nevada’s price target to CA$284.81, citing improved financial models and a strong deal pipeline while maintaining a balanced outlook given current sector and commodity conditions. Analyst Commentary Bullish analysts cited updated financial models after the Q2 report, prompting modest price target increases.
JG
CA$0.13
Japan Gold
7D
-51.0%
1Y
92.3%
GSVR
CA$0.47
Guanajuato Silver
7D
-13.9%
1Y
97.9%
PAAS
CA$54.75
Pan American Silver
7D
8.2%
1Y
88.2%
TECK.B
CA$61.51
Teck Resources
7D
10.5%
1Y
-13.1%

Rising Copper Production And ESG Focus Will Create Opportunities

The consensus analyst price target for Teck Resources has increased to CA$59.61, primarily reflecting optimism over its transformative merger with Anglo American and improved copper exposure, despite some concerns about operational issues, integration risks, and valuation. Analyst Commentary The merger of equals between Teck Resources and Anglo American is viewed as transformative, creating the world’s fifth-largest copper producer and potentially catalyzing further consolidation across the global mining sector.
BRC
CA$0.77
Blackrock Silver
7D
-9.4%
1Y
116.9%
NG
CA$14.15
NovaGold Resources
7D
32.2%
1Y
150.4%
SAU
CA$0.40
St. Augustine Gold and Copper
7D
-10.2%
1Y
507.7%