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

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 24.9x 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.

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

Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 125x. Analysts are expecting annual earnings growth of 16.4%, which is lower than the prior year's growth of 59.1% per year.

Canadian (TSX) Metals and Mining Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 23 Jun 2026	CA$897.7b	CA$161.1b	CA$36.1b	14.4x	24.9x	5.6x
Thu, 21 May 2026	CA$893.6b	CA$156.1b	CA$35.1b	16.1x	25.5x	5.7x
Sat, 18 Apr 2026	CA$1.0t	CA$137.3b	CA$27.0b	19.8x	37x	7.3x
Mon, 16 Mar 2026	CA$958.6b	CA$138.6b	CA$26.1b	19.4x	36.7x	6.9x
Wed, 11 Feb 2026	CA$1.0t	CA$127.9b	CA$19.2b	25.4x	53.2x	8x
Fri, 09 Jan 2026	CA$928.4b	CA$126.5b	CA$17.7b	22.8x	52.6x	7.3x
Sun, 07 Dec 2025	CA$815.2b	CA$125.5b	CA$18.0b	21.2x	45.2x	6.5x
Tue, 04 Nov 2025	CA$713.9b	CA$120.0b	CA$14.2b	20.7x	50.4x	5.9x
Thu, 02 Oct 2025	CA$742.5b	CA$117.5b	CA$12.2b	23.9x	61x	6.3x
Sat, 30 Aug 2025	CA$599.9b	CA$117.5b	CA$12.0b	18.5x	50x	5.1x
Mon, 28 Jul 2025	CA$531.8b	CA$110.0b	CA$8.6b	18.3x	62.2x	4.8x
Wed, 25 Jun 2025	CA$511.7b	CA$110.0b	CA$8.3b	15.3x	61.3x	4.7x
Fri, 23 May 2025	CA$438.7b	CA$93.5b	CA$5.5b	13.2x	79.6x	4.7x
Sun, 20 Apr 2025	CA$476.4b	CA$104.4b	CA$5.0b	14.2x	94.5x	4.6x
Tue, 18 Mar 2025	CA$458.0b	CA$106.7b	CA$5.1b	12.3x	89.8x	4.3x
Thu, 13 Feb 2025	CA$439.5b	CA$112.3b	CA$3.7b	13.5x	119.4x	3.9x
Sat, 11 Jan 2025	CA$415.5b	CA$112.2b	CA$523.2m	13.5x	794.1x	3.7x
Mon, 09 Dec 2024	CA$411.8b	CA$110.4b	CA$352.2m	13.8x	1169.2x	3.7x
Wed, 06 Nov 2024	CA$425.9b	CA$104.6b	-CA$798,829,936.45	14.3x	-533.2x	4.1x
Fri, 04 Oct 2024	CA$425.3b	CA$105.2b	-CA$376,778,413.86	17.5x	-1128.7x	4x
Sun, 01 Sep 2024	CA$401.9b	CA$105.1b	-CA$688,142,943.41	17.2x	-584.1x	3.8x
Tue, 30 Jul 2024	CA$393.2b	CA$105.2b	-CA$307,352,808.28	16.4x	-1279.2x	3.7x
Thu, 27 Jun 2024	CA$371.6b	CA$104.9b	-CA$563,729,138.26	15.7x	-659.2x	3.5x
Sat, 25 May 2024	CA$392.1b	CA$104.7b	-CA$950,079,181.28	18x	-412.7x	3.7x
Mon, 22 Apr 2024	CA$376.5b	CA$103.7b	CA$1.5b	17.5x	249.4x	3.6x
Wed, 20 Mar 2024	CA$325.7b	CA$103.2b	CA$1.4b	13.3x	232x	3.2x
Fri, 16 Feb 2024	CA$291.9b	CA$100.6b	CA$4.9b	12.1x	59.4x	2.9x
Sun, 14 Jan 2024	CA$340.9b	CA$107.3b	CA$1.7b	12.9x	195.6x	3.2x
Tue, 12 Dec 2023	CA$330.6b	CA$108.2b	CA$1.8b	12.5x	187.1x	3.1x
Thu, 09 Nov 2023	CA$326.7b	CA$108.2b	CA$1.8b	13x	179.9x	3x
Sat, 07 Oct 2023	CA$339.2b	CA$105.9b	CA$1.6b	11x	212.7x	3.2x
Mon, 04 Sep 2023	CA$366.5b	CA$104.6b	CA$1.7b	11.3x	211.2x	3.5x
Wed, 02 Aug 2023	CA$374.1b	CA$102.3b	CA$937.1m	13.2x	399.2x	3.7x
Fri, 30 Jun 2023	CA$354.2b	CA$103.9b	CA$2.4b	11.8x	145x	3.4x


CA Market	-0.94%
Materials	-3.28%
Metals and Mining	-3.45%
Aluminum	0%	0
Steel	-2.46%
Gold	-2.78%
Diversified Metals and Mining	-3.82%
Silver	-4.37%
Precious Metals and Minerals	-4.83%
Copper	-6.28%

Company	Last Price	7D	1Y	Valuation
SSRM SSR Mining	CA$43.48	7.5% +CA$628.7m	142.9%	PE11.3x
AII Almonty Industries	CA$26.38	5.3% +CA$377.7m	447.9%	PS149.8x
FNV Franco-Nevada	CA$312.73	0.6% +CA$340.5m	36.1%	PE31.2x
PHD Providence Gold Mines	CA$4.00	7,900.0% +CA$279.7m	15,900.0%	PE-1107.2x
FF First Mining Gold	CA$0.60	25.0% +CA$166.2m	192.7%	PB3.8x

Announcement • 14h

Alamos Gold Reports New Results from Underground and Surface Exploration Drilling At the Island Gold Mine

Alamos Gold Inc. reported new results from underground and surface exploration drilling at the Island Gold Mine. Exploration drilling has defined high-grade mineralization across multiple areas which are being targeted as sources of additional higher-grade mill feed within the expanded Magino mill. This includes defining a new zone of high-grade mineralization 250 metres west of underground Mineral Reserves and Mineral Resources (Island Gold West Extension), and continuing to extend mineralization within the Island West up-plunge area. The regional exploration program continues to intersect high-grade gold mineralization at the past-producing Cline-Pick, and Edwards mines, located seven kilometres from the Magino Mill. Island Gold West Extension Zone: high-grade mineralization has been intersected within a newly defined zone measuring approximately 200 by 300 metres based on drilling to date. This new zone is located approximately 250 metres to as much as 500 metres along strike to the west of the existing Mineral Reserves and Resources of the Island Gold Deposit, and south of the Magino deposit. The zone remains open down-plunge and to the west, with drilling continuing to target extensions of the mineralization. New highlights include: Island West Extension Zone: 12.05 g/t Au over 5.20 metres (MX26-031) including 36.67 g/t Au over 1.50 metres; 8.07 g/t Au over 5.60 metres (MX26-035W) including 45.90 g/t Au over 0.60 metres and 30.20 g/t Au over 0.45 metres. Island West up-plunge: drilling continues to expand high-grade gold mineralization across multiple zones (C, D1, DN2, G1, G10). Given its proximity to surface, and the ability to be mined via the ramp system, the Island West up-plunge area represents significant opportunity to increase combined underground mining rates beyond the 3,000 tonnes per day that is expected to be mined and skipped to surface via the shaft. This would support further production growth by increasing the proportion of higher-grade ore to be processed within the expanded Magino mill. New highlights include: 14.51 g/t Au (4.60 g/t cut) over 5.21 metres (850-482-05); 4.55 g/t Au (3.95 g/t cut) over 16.05 metres (850-472-41); 12.56 g/t Au (7.76 g/t cut) over 4.73 metres (850-482-08); 27.11 g/t Au (8.15 g/t cut) over 1.65 metres (790-446-05); 18.66 g/t Au over 2.30 metres (MX26-036); 8.53 g/t Au over 4.32 metres (790-460-31); and 3.30 g/t Au over 9.71 metres (790-460-32). Island West up-plunge unknown zones: high-grade mineralization intersected across multiple yet to be defined zones in both the hanging wall and footwall. Additional drilling will be focused on defining these new zones through further assessing the geometry and continuity of these zones. New highlights include: 20.94 g/t Au over 5.30 metres (850-482-07); 30.47 g/t Au over 2.65 metres (790-460-41); 16.28 g/t Au over 4.60 metres (850-482-08); 6.66 g/t Au over 7.70 metres (850-472-61); 17.24 g/t Au over 2.30 metres (850-472-76); and 7.64 g/t Au over 5.15 metres (850-482-07). Island Gold NS1 and NS4 Zone: high-grade gold mineralization intersected within new and recently defined hanging wall zones, NS1 and NS4. These zones are low-cost to develop, given their proximity to existing infrastructure. The NS1 Zone extends into the Island West up-plunge target area representing an additional opportunity to access high-grade ore from the existing ramp system. As exploration on the NS4 zone advances up-plunge, there is also the potential for this zone to extend into the Island West up plunge area. New highlights include: NS1 Zone: 19.48 g/t Au (7.17 g/t cut) over 11.63 metres (850-472-61); and 7.70 g/t Au over 5.02 metres (1025-492-29). NS4 Zone: growing parallel structure 180 metres west of NS1 Zone: 132.90 g/t Au (11.51 g/t cut) over 2.21 metres (850-472-76); 23.56 g/t Au (12.27 g/t cut) over 3.26 metres (850-470-30); 19.43 g/t Au (5.13 g/t cut) over 2.97 metres (850-470-26); 10.18 g/t Au over 3.50 metres (850-470-21); and 12.71 g/t Au over 2.64 metres (850-470-31). Cline-Pick Mine regional drilling: continues to extend high-grade gold mineralization beyond the extent of previous mining and following up on the best hole drilled to date announced earlier this year which intersected 178.07 g/t Au over 3.54 metres (25IGX128). The targets remain open in multiple directions, including at depth, with the deepest holes drilled to date down to a vertical depth of only 540 metres. The Cline-Pick, and adjacent past producing Edwards Mine are located within 7 kilometres of the Magino mill and are being targeted as potential sources of additional higher-grade mill feed within the expanded mill. New highlights include: Cline-Pick Mines: 67.93 g/t Au over 3.05 metres (26IGX143) including 127.72 g/t Au over 1.35 metres; 5.63 g/t Au over 10.77 metres (26IGX136) including 24.70 g/t Au over 2.12 metres; 62.20 g/t Au over 0.98 metres (25IGX128EXT) including 114.00 g/t Au over 0.38 metres; 9.18 g/t Au over 3.55 metres including 72.30 g/t Au over 0.43 metres; 4.70 g/t Au over 11.85 metres (26IGX137) including 9.28 g/t Au over 5.65 metres; 8.28 g/t Au over 5.05 metres including 15.71 g/t Au over 2.60 metres and 36.80 g/t Au over 0.79 metres; 2.93 g/t Au over 14.41 metres (26IGX138) including 13.48 g/t Au over 2.07 metres; and 11.89 g/t Au over 2.45 metres (26IGX140) including 50.20 g/t Au over 0.52 metres. Edwards Mine: 5.06 g/t Au over 13.60 metres (25IGX133) including 35.40 g/t Au over 0.80 metres; and 5.96 g/t Au over 2.25 metres including 10.30 g/t Au over 1.10 metres. 88-60 Zone: 24.12 g/t Au over 3.88 metres (26IGX136) including 63.50 g/t Au over 1.42 metres.

Announcement • Jun 17

Almonty Industries Inc. Provides Update On Large-Scale Drilling Program At Sangdong Molybdenum Project

Almonty Industries Inc. announced an update on its large-scale drilling program at the Sangdong Molybdenum Project adjacent to Almonty’s Sangdong Mine in Yeongwol, Gangwon Province, South Korea, to confirm molybdenum resources ahead of future project development. Molybdenum is a strategic metal that can significantly enhance heat and corrosion resistance when added in small amounts to steel or specialty alloys. It is widely used in high-temperature and high-pressure industries such as aerospace, defense, nuclear energy, and petrochemicals. More recently, demand has expanded into next-generation industries including semiconductors and renewable energy. Additionally, the spot price of molybdenum has increased by approximately 23.5% over the past year to CNY 592.34/Kg. The drilling program re-examines mineralized structures identified in historical drill holes and also is aimed at enhancing resource categorization. Almonty is accelerating its molybdenum drilling campaign to address South Korea’s molybdenum supply shortage, which has recently reached a crisis level. With the national stockpile falling short, the South Korean government has issued public notices urging private companies to secure molybdenum. To date, approximately 37% of the 26 planned drill holes, which will cover approximately 12,000 meters in total, have been drilled. The assays received thus far have grades similar to those of historical drill holes. Once the full extent of the molybdenum ore body at Sangdong is confirmed, Almonty plans to begin mining without delay. The mineralized area is extensive, with multiple high-grade intersections. The drilling program is aimed at confirming molybdenum resources ahead of future project development. The spot price of molybdenum has increased by approximately 23.5% over the past year to CNY 592.34/Kg. The Company remains engaged in the operation and development of other mineral properties, including the Sangdong Molybdenum Project. For the purposes of the ASX Listing Rules, the information in this announcement that relates to Exploration Results is based on and fairly represents information compiled by Mr. Adam Wheeler, who is an independent self-employed mining consultant and is not a permanent employee of Almonty. Mr. Wheeler is a Fellow of the Institute of Materials, Minerals and Mining (a Recognized Professional Organisation included in a list promulgated from time to time) and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the JORC Code. Mr. Wheeler consents to the inclusion in this announcement of the matters based on the information in the form and context in which it appears.

Canadian (TSX) Metals and Mining Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Gladiator Metals Corp. announced that it expects to receive CAD 35.04 million in funding from BlackRock, Inc. and other investors

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Almonty Industries Inc. Provides Update On Large-Scale Drilling Program At Sangdong Molybdenum Project

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