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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedNov 05, 2025
DataAggregated Company Financials
Companies1167
  • 7D-2.9%
  • 3M24.2%
  • 1Y56.5%
  • YTD67.1%

Over the last 7 days, the Metals and Mining industry has dropped 2.9%, driven by a pullback from First Quantum Minerals of 11%. In the past year, the industry has gained 57%. Looking forward, earnings are forecast to grow by 27% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 05 Nov 2025CA$713.6bCA$120.6bCA$14.4b19.8x49.7x5.9x
Fri, 03 Oct 2025CA$752.2bCA$117.7bCA$12.2b23.1x61.6x6.4x
Sun, 31 Aug 2025CA$615.1bCA$117.5bCA$11.9b16.7x51.5x5.2x
Tue, 29 Jul 2025CA$531.8bCA$110.2bCA$8.6b18.5x62x4.8x
Thu, 26 Jun 2025CA$513.9bCA$109.9bCA$8.2b15.4x62.4x4.7x
Sat, 24 May 2025CA$435.6bCA$92.7bCA$5.4b13.9x80.5x4.7x
Mon, 21 Apr 2025CA$476.2bCA$104.5bCA$5.1b14.1x94.1x4.6x
Wed, 19 Mar 2025CA$467.3bCA$106.9bCA$5.2b12.6x90.3x4.4x
Fri, 14 Feb 2025CA$447.1bCA$112.1bCA$3.9b13.2x113.5x4x
Sun, 12 Jan 2025CA$410.4bCA$112.2bCA$536.7m13.5x764.6x3.7x
Tue, 10 Dec 2024CA$411.6bCA$110.6bCA$356.0m13.7x1156.2x3.7x
Thu, 07 Nov 2024CA$429.1bCA$105.8b-CA$246,334,766.3615x-1742x4.1x
Sat, 05 Oct 2024CA$420.2bCA$105.3b-CA$375,199,690.9117.8x-1119.9x4x
Mon, 02 Sep 2024CA$401.9bCA$105.1b-CA$687,231,329.6917.2x-584.9x3.8x
Wed, 31 Jul 2024CA$395.3bCA$105.1b-CA$291,796,421.8015.3x-1354.8x3.8x
Fri, 28 Jun 2024CA$376.8bCA$104.9b-CA$563,909,095.7215.6x-668.3x3.6x
Sun, 26 May 2024CA$396.6bCA$104.7b-CA$945,430,238.1618x-419.5x3.8x
Tue, 23 Apr 2024CA$376.5bCA$103.7bCA$1.5b17.5x249.4x3.6x
Thu, 21 Mar 2024CA$325.9bCA$102.8bCA$1.3b13.3x250.5x3.2x
Sat, 17 Feb 2024CA$296.7bCA$100.7bCA$5.0b12.7x59.8x2.9x
Mon, 15 Jan 2024CA$340.9bCA$107.3bCA$1.7b12.9x195.1x3.2x
Wed, 13 Dec 2023CA$325.5bCA$108.3bCA$1.8b12.4x182.8x3x
Fri, 10 Nov 2023CA$319.8bCA$109.5bCA$2.1b13.3x151.4x2.9x
Sun, 08 Oct 2023CA$339.2bCA$105.9bCA$1.6b11x212.7x3.2x
Tue, 05 Sep 2023CA$366.5bCA$104.6bCA$1.7b11.3x211.8x3.5x
Thu, 03 Aug 2023CA$364.9bCA$102.7bCA$708.2m11.9x515.3x3.6x
Sat, 01 Jul 2023CA$360.7bCA$104.0bCA$2.5b12x146.6x3.5x
Mon, 29 May 2023CA$365.5bCA$106.0bCA$2.8b14.5x132.9x3.4x
Wed, 26 Apr 2023CA$395.2bCA$108.4bCA$5.2b13.6x75.4x3.6x
Fri, 24 Mar 2023CA$363.4bCA$108.9bCA$6.9b13.6x52.7x3.3x
Sun, 19 Feb 2023CA$350.0bCA$111.5bCA$9.5b13.1x37x3.1x
Tue, 17 Jan 2023CA$369.7bCA$113.4bCA$12.0b12.6x30.8x3.3x
Thu, 15 Dec 2022CA$346.5bCA$114.1bCA$12.1b10.9x28.6x3x
Sat, 12 Nov 2022CA$331.3bCA$112.7bCA$13.5b9.2x24.5x2.9x
Price to Earnings Ratio

24.5x


Total Market Cap: CA$331.3bTotal Earnings: CA$13.5bTotal Revenue: CA$112.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 287x202320242025
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 49.7x which is lower than its 3-year average PE of 287x.
  • The 3-year average PS ratio of 8.3x is higher than the industry's current PS ratio of 5.9x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 2.0% per year over the last three years.
  • Revenues for these companies have grown 2.3% 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 Market-1.88%
Materials-3.01%
Metals and Mining-2.94%
Aluminum0%0
Steel-0.012%
Gold-1.63%
Silver-5.28%
Copper-5.77%
Diversified Metals and Mining-6.01%
Precious Metals and Minerals-6.05%
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 41.4%, which is lower than the prior year's growth of 591.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 69% 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 6.5% 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
LUG Lundin GoldCA$95.152.7%
+CA$596.2m		186.6%PE26.5x
ABX Barrick MiningCA$44.620.5%
+CA$392.4m		70.9%PE19.5x
NGD New GoldCA$9.315.4%
+CA$380.0m		144.4%PE21x
PRB Probe GoldCA$3.6842.6%
+CA$224.4m		123.0%PB18.6x
FOM Foran MiningCA$3.7310.7%
+CA$194.2m		-15.6%PB1.8x

Latest News

AGI
CA$42.29
Alamos Gold
7D
-3.8%
1Y
51.5%
IVN
CA$12.99
Ivanhoe Mines
7D
-10.5%
1Y
-33.7%
CG
CA$15.73
Centerra Gold
7D
2.7%
1Y
78.8%
BTO
CA$5.61
B2Gold
7D
-17.9%
1Y
23.8%
LUG
CA$95.15
Lundin Gold
7D
2.7%
1Y
186.6%
NGD
CA$9.31
New Gold
7D
5.4%
1Y
144.4%
PRB
CA$3.68
Probe Gold
7D
42.6%
1Y
123.0%
TECK.B
CA$57.94
Teck Resources
7D
-3.8%
1Y
-14.3%

TECK.B: Merger Activity And Copper Prices Will Shape Future Risk And Reward

Teck Resources' fair value estimate has increased modestly by $1.17 to $62.94 as analysts weighed recent mixed price target revisions along with ongoing recalibration of future copper prices and profit margin forecasts. Analyst Commentary Recent commentary from street analysts reflects a mix of optimism and caution toward Teck Resources, with target price revisions and ratings signaling shifting expectations amid evolving sector dynamics.
ARTG
CA$32.64
Artemis Gold
7D
2.5%
1Y
130.0%
ARIS
CA$13.49
Aris Mining
7D
5.5%
1Y
118.3%
FM
CA$27.62
First Quantum Minerals
7D
-11.3%
1Y
47.9%
EDV
CA$53.41
Endeavour Mining
7D
-5.3%
1Y
74.9%
FOM
CA$3.73
Foran Mining
7D
10.7%
1Y
-15.6%
ABX
CA$44.62
Barrick Mining
7D
0.5%
1Y
70.9%

Major Gold Discovery And Leadership Transition Will Drive Future Opportunity

Barrick Mining's analyst price target has been raised from $48.36 to $51.84. This change reflects analysts' increased confidence in the company's improved revenue growth projections and higher expected profit margins.
PAAS
CA$46.77
Pan American Silver
7D
-4.7%
1Y
50.1%
AG
CA$16.28
First Majestic Silver
7D
-8.5%
1Y
70.3%

Analysts Boost Price Target for First Majestic Silver Amid Upgraded Growth and Profit Forecasts

Analysts have raised their price target for First Majestic Silver from $21.13 to $23.25, citing improved growth prospects and stronger profitability forecasts. What's in the News Reported a 47% increase in ore processed and a 39% rise in silver equivalent ounces produced in Q3 2025 compared to the previous year (Announcement of Operating Results) Silver production nearly doubled year over year, reaching 3,863,673 ounces.