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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies1169
  • 7D-6.9%
  • 3M-6.2%
  • 1Y88.7%
  • YTD2.5%

Over the last 7 days, the Metals and Mining industry has dropped 6.2%, driven by a pullback from Wheaton Precious Metals of 12%. In contrast, Lithium Americas has gained 21%. This takes the industry's 12 month performance to a gain of 90%. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026CA$902.5bCA$140.6bCA$28.2b16.4x32x6.4x
Mon, 30 Mar 2026CA$873.5bCA$139.0bCA$26.5b15.7x33x6.3x
Wed, 25 Feb 2026CA$1.1tCA$135.5bCA$25.0b23.1x43.6x8x
Fri, 23 Jan 2026CA$1.0tCA$125.9bCA$17.6b26.9x58x8.1x
Sun, 21 Dec 2025CA$874.4bCA$126.0bCA$17.6b21.4x49.8x6.9x
Tue, 18 Nov 2025CA$753.4bCA$127.1bCA$18.5b19.6x40.8x5.9x
Thu, 16 Oct 2025CA$778.9bCA$118.3bCA$12.3b23.7x63.2x6.6x
Sat, 13 Sep 2025CA$675.8bCA$118.4bCA$11.9b18.6x56.8x5.7x
Mon, 11 Aug 2025CA$563.9bCA$114.5bCA$11.4b17.3x49.6x4.9x
Wed, 09 Jul 2025CA$535.3bCA$109.6bCA$8.2b17.4x65.5x4.9x
Fri, 06 Jun 2025CA$516.1bCA$110.4bCA$8.4b15.5x61.1x4.7x
Sun, 04 May 2025CA$461.2bCA$106.6bCA$6.4b12.8x71.8x4.3x
Tue, 01 Apr 2025CA$461.9bCA$108.2bCA$5.5b12.5x83.7x4.3x
Thu, 27 Feb 2025CA$426.3bCA$106.2bCA$3.4b12.1x127.2x4x
Sat, 25 Jan 2025CA$410.0bCA$111.7bCA$678.7m14.7x604.2x3.7x
Mon, 23 Dec 2024CA$391.1bCA$111.8bCA$505.9m12.6x773.1x3.5x
Wed, 20 Nov 2024CA$406.9bCA$109.3bCA$465.4m13.5x874.4x3.7x
Fri, 18 Oct 2024CA$432.7bCA$106.7b-CA$371,757,788.5917.6x-1164x4.1x
Sun, 15 Sep 2024CA$413.5bCA$105.8b-CA$668,043,580.9416x-619x3.9x
Tue, 13 Aug 2024CA$371.1bCA$105.8b-CA$689,031,677.1014.7x-538.5x3.5x
Thu, 11 Jul 2024CA$391.6bCA$104.4b-CA$550,844,970.7314.8x-710.8x3.8x
Sat, 08 Jun 2024CA$394.4bCA$105.2b-CA$604,580,545.0016.4x-652.4x3.8x
Mon, 06 May 2024CA$374.4bCA$103.7bCA$41.3m17.1x9073.1x3.6x
Wed, 03 Apr 2024CA$351.2bCA$102.6bCA$1.4b16.3x259.8x3.4x
Fri, 01 Mar 2024CA$290.3bCA$103.0bCA$2.4b13.7x119.8x2.8x
Sun, 28 Jan 2024CA$331.3bCA$107.5bCA$1.7b12.7x193.2x3.1x
Tue, 26 Dec 2023CA$349.2bCA$106.4bCA$1.7b13.8x205.1x3.3x
Thu, 23 Nov 2023CA$328.2bCA$108.9bCA$1.7b11.8x194.1x3x
Sat, 21 Oct 2023CA$349.1bCA$106.2bCA$1.5b11x229.5x3.3x
Mon, 18 Sep 2023CA$366.6bCA$104.3bCA$1.7b11.3x218.6x3.5x
Wed, 16 Aug 2023CA$350.4bCA$104.1bCA$1.4b11.1x249.5x3.4x
Fri, 14 Jul 2023CA$374.3bCA$103.2bCA$2.4b11.9x154x3.6x
Sun, 11 Jun 2023CA$366.4bCA$104.4bCA$2.5b13.2x146.9x3.5x
Tue, 09 May 2023CA$407.8bCA$104.5bCA$3.4b16.9x119.1x3.9x
Price to Earnings Ratio

119.1x


Total Market Cap: CA$407.8bTotal Earnings: CA$3.4bTotal Revenue: CA$104.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 287.3x202420252026
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 32.6x which is lower than its 3-year average PE of 287x.
  • The 3-year average PS ratio of 8.9x is higher than the industry's current PS ratio of 6.4x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 100% per year over the last three years.
  • Revenues for these companies have grown 9.9% 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 Market0.083%
Materials-6.04%
Metals and Mining-6.86%
Steel1.80%
Aluminum0%0
Diversified Metals and Mining-3.57%
Silver-3.63%
Precious Metals and Minerals-3.94%
Copper-7.17%
Gold-7.90%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 105x.
    • Analysts are expecting annual earnings growth of 15.2%, which is lower than the prior year's growth of 30.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 56% over the next 5 years.
  • However this is lower than its past earnings growth rate of 147% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 15% 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
LAC Lithium AmericasCA$7.7421.9%
+CA$482.8m		90.6%PB1.9x
AYA Aya Gold & SilverCA$25.066.7%
+CA$225.9m		183.8%PE57.9x
LAR Lithium ArgentinaCA$14.0310.6%
+CA$219.5m		390.6%PB2.2x
PMET PMET ResourcesCA$6.1118.2%
+CA$172.8m		165.7%PB3.5x
AFM Alphamin ResourcesCA$1.414.4%
+CA$77.0m		53.3%PE7x

Latest News

K
CA$40.22
Kinross Gold
7D
-10.2%
1Y
107.0%
AFM
CA$1.41
Alphamin Resources
7D
4.4%
1Y
53.3%
FM
CA$32.34
First Quantum Minerals
7D
-9.8%
1Y
72.1%
AGI
CA$53.56
Alamos Gold
7D
-13.2%
1Y
57.0%
LUG
CA$90.34
Lundin Gold
7D
-11.1%
1Y
65.2%
PMET
CA$6.11
PMET Resources
7D
18.2%
1Y
165.7%
WPM
CA$170.85
Wheaton Precious Metals
7D
-10.3%
1Y
53.0%

WPM: Robust Streaming Pipeline And New Leadership Will Drive Future Upside

Analysts have lifted their fair value estimate for Wheaton Precious Metals from CA$259.57 to CA$355.72, citing updated assumptions for revenue growth, margins, and future P/E multiples following a series of recent price target revisions across the Street. Analyst Commentary Recent Street research on Wheaton Precious Metals has leaned positive overall, with several bullish analysts revising price targets higher and highlighting potential growth levers around the company’s asset base and development pipeline.
TMQ
CA$6.05
Trilogy Metals
7D
7.7%
1Y
173.8%
PAAS
CA$70.40
Pan American Silver
7D
-8.0%
1Y
116.8%
LAR
CA$14.03
Lithium Argentina
7D
10.6%
1Y
390.6%
FNV
CA$307.53
Franco-Nevada
7D
-7.1%
1Y
35.1%
PGDC
CA$0.93
Patagonia Gold
7D
19.2%
1Y
1,062.5%
ABX
CA$52.75
Barrick Mining
7D
-6.0%
1Y
107.5%

ABX: Reko Diq Review And Project Delays Will Shape Future Upside

Analysts have raised their CA$ fair value estimate for Barrick Mining from about CA$65.36 to about CA$71.61, citing updated assumptions around discount rates, revenue growth, margins, and a slightly lower future P/E multiple that together support the higher price target. Analyst Commentary Analysts are updating their views on Barrick Mining in the context of broader sector research that has recently featured valuation resets and rating changes for peers.
AYA
CA$25.06
Aya Gold & Silver
7D
6.7%
1Y
183.8%

AYA: Boumadine And Zgounder Progress Will Support Re Rating Of Undervalued Shares

The analyst price target for Aya Gold & Silver has been raised to CA$33.86 from CA$33.64, with the change supported by several firms updating their models around future P/E assumptions and revised views on revenue growth and profit margins. Analyst Commentary Recent research updates show a cluster of higher price targets for Aya Gold & Silver, with several firms adjusting their models within a short time frame.
LAC
CA$7.74
Lithium Americas
7D
21.9%
1Y
90.6%
ARA
CA$4.70
Aclara Resources
7D
6.1%
1Y
510.4%