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Canadian (TSX) Metals and Mining Industry Analysis

UpdatedAug 16, 2026
DataAggregated Company Financials
Companies1196
  • 7D-1.3%
  • 3M2.5%
  • 1Y65.1%
  • YTD8.6%

Over the last 7 days, the Metals and Mining industry has dropped 1.3%, driven by a pullback from Barrick Mining of 5.2%. In the past year, the industry has gained 65%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 16 Aug 2026CA$952.9bCA$170.2bCA$40.7b15.8x23.4x5.6x
Tue, 14 Jul 2026CA$843.7bCA$161.1bCA$36.1b14.3x23.3x5.2x
Thu, 11 Jun 2026CA$854.9bCA$158.9bCA$35.5b13.6x24.1x5.4x
Sat, 09 May 2026CA$941.4bCA$149.3bCA$32.1b16.7x29.4x6.3x
Mon, 06 Apr 2026CA$955.7bCA$139.6bCA$27.5b17.2x34.8x6.8x
Wed, 04 Mar 2026CA$1.1tCA$136.0bCA$24.9b19.6x46.2x8.5x
Fri, 30 Jan 2026CA$1.1tCA$124.0bCA$17.2b27.8x64.6x9x
Sun, 28 Dec 2025CA$896.3bCA$125.0bCA$17.4b21.9x51.5x7.2x
Tue, 25 Nov 2025CA$730.3bCA$127.8bCA$18.7b19.2x39x5.7x
Thu, 23 Oct 2025CA$707.7bCA$117.6bCA$12.2b20.3x57.9x6x
Sat, 20 Sep 2025CA$663.8bCA$117.3bCA$11.9b20.1x55.6x5.7x
Mon, 18 Aug 2025CA$573.1bCA$118.0bCA$12.1b17.1x47.5x4.9x
Wed, 16 Jul 2025CA$529.5bCA$109.9bCA$8.2b17.9x64.4x4.8x
Fri, 13 Jun 2025CA$513.1bCA$110.0bCA$8.4b15.8x61x4.7x
Sun, 11 May 2025CA$489.9bCA$111.3bCA$8.5b14.2x57.6x4.4x
Tue, 08 Apr 2025CA$409.8bCA$107.0bCA$5.4b12.3x76.2x3.8x
Thu, 06 Mar 2025CA$422.4bCA$106.3bCA$3.4b12x125.1x4x
Sat, 01 Feb 2025CA$426.2bCA$112.9bCA$688.5m13.1x619.1x3.8x
Mon, 30 Dec 2024CA$394.1bCA$112.1bCA$515.1m12.8x765.1x3.5x
Wed, 27 Nov 2024CA$411.1bCA$109.8bCA$379.8m13.1x1082.4x3.7x
Fri, 25 Oct 2024CA$453.2bCA$105.4b-CA$1,688,125,477.7317.8x-268.5x4.3x
Sun, 22 Sep 2024CA$419.4bCA$105.6b-CA$629,794,981.2516.2x-666x4x
Tue, 20 Aug 2024CA$400.0bCA$106.0b-CA$632,381,372.3214.7x-632.6x3.8x
Thu, 18 Jul 2024CA$418.7bCA$104.3b-CA$114,697,214.7415.4x-3650.8x4x
Sat, 15 Jun 2024CA$370.2bCA$105.1b-CA$613,144,120.9616.2x-603.8x3.5x
Mon, 13 May 2024CA$391.8bCA$104.4b-CA$462,922,866.6316.9x-846.3x3.8x
Wed, 10 Apr 2024CA$368.2bCA$102.6bCA$1.4b17.8x259.7x3.6x
Fri, 08 Mar 2024CA$320.2bCA$102.4bCA$1.2b15.5x268.5x3.1x
Sun, 04 Feb 2024CA$329.8bCA$107.6bCA$1.7b12.9x189.3x3.1x
Tue, 02 Jan 2024CA$345.3bCA$106.3bCA$1.7b14x202.8x3.2x
Thu, 30 Nov 2023CA$340.9bCA$108.3bCA$1.7b13.1x195.4x3.1x
Sat, 28 Oct 2023CA$346.8bCA$107.0bCA$1.3b11.6x272.3x3.2x
Mon, 25 Sep 2023CA$351.1bCA$104.9bCA$1.6b10.7x221x3.3x
Wed, 23 Aug 2023CA$352.5bCA$104.3bCA$1.4b11.3x248.8x3.4x
Price to Earnings Ratio

248.8x


Total Market Cap: CA$352.5bTotal Earnings: CA$1.4bTotal Revenue: CA$104.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Metals and Mining Industry Price to Earnings3Y Average 271.6x202420252026
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 23.4x which is lower than its 3-year average PE of 272x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 5.6x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 206% per year over the last three years.
  • Revenues for these companies have grown 18% 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 Market0.99%
Materials-0.88%
Metals and Mining-1.25%
Precious Metals and Minerals4.79%
Silver2.89%
Steel1.80%
Aluminum0%0
Gold-1.30%
Diversified Metals and Mining-1.72%
Copper-2.76%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 136x.
    • Analysts are expecting annual earnings growth of 9.1%, which is lower than the prior year's growth of 69.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 48% over the next 5 years.
  • However this is lower than its past earnings growth rate of 171% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 9.1% 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
GMIN G Mining VenturesCA$49.98-0.5%
CA$2.9b		186.3%PE29.1x
ELD Eldorado GoldCA$55.094.3%
+CA$589.4m		74.6%PE16.8x
AG First Majestic SilverCA$26.754.3%
+CA$547.1m		118.4%PE27.3x
EDR Endeavour SilverCA$14.7611.1%
+CA$435.3m		92.2%PE47.9x
SGD Snowline GoldCA$17.667.2%
+CA$418.0m		89.1%PB33.6x

Latest News

PAAS
CA$65.82
Pan American Silver
7D
-7.9%
1Y
50.1%
SEA
CA$46.47
Seabridge Gold
7D
6.9%
1Y
100.9%
AG
CA$26.75
First Majestic Silver
7D
4.3%
1Y
118.4%
Narrative Update • Aug 14

AG: Record Cash Flows And Mine Restart Plan Will Support Rich Multiple

Analysts have revised their price target for First Majestic Silver to CA$30 from CA$35, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E that reshaped their valuation outlook. What's in the News for First Majestic Silver First Majestic Silver reported Q2 2026 revenue of $415.5 million, a 57% year over year increase, with net earnings of $109.4 million and earnings per share of $0.22.
TECK.B
CA$88.17
Teck Resources
7D
-4.9%
1Y
97.9%
FNV
CA$325.26
Franco-Nevada
7D
-2.3%
1Y
32.8%
DSV
CA$11.38
Discovery Mining
7D
3.9%
1Y
181.7%
Narrative Update • Aug 14

(Deep Dive Series) Discovery Silver, World’s Largest Silver Reserve + Porcupine Gold Ramp, Hybrid Gold-Silver Giant Breakdown

In this deep dive video series, we discuss how Discovery Silver (TSX: DSV) transformed into a major Canadian gold producer with the Porcupine acquisition while holding one of the world’s largest undeveloped silver projects at Cordero. Also, explore their Q1 2026 results (60k+ oz Au, strong earnings), resource details, Kidd infrastructure upside, management strength from Kirkland Lake vets, valuation scenarios, risks, and catalysts for 500K oz gold growth.
SGD
CA$17.66
Snowline Gold
7D
7.2%
1Y
89.1%
MAU
CA$18.76
Montage Gold
7D
2.5%
1Y
257.3%
GMIN
CA$49.98
G Mining Ventures
7D
-0.5%
1Y
186.3%
ABX
CA$57.80
Barrick Mining
7D
-5.2%
1Y
73.5%
WPM
CA$186.25
Wheaton Precious Metals
7D
-0.6%
1Y
42.9%
Narrative Update • Aug 12

WPM: Long Term Production Outlook Will Support Future Upside Potential

Analysts have trimmed the fair value estimate for Wheaton Precious Metals to CA$309.07 from CA$317.56, reflecting lower modeled revenue growth and profit margin assumptions, together with a higher discount rate. At the same time, they are applying a higher future P/E multiple supported by recent price target revisions across the Street.
HBM
CA$36.99
Hudbay Minerals
7D
-3.7%
1Y
142.9%
K
CA$37.89
Kinross Gold
7D
-1.6%
1Y
41.7%
Narrative Update • Aug 11

K: Free Cash Flow And New Chile Project Will Support Higher Future Returns

Analysts have reduced their price targets on Kinross Gold to reflect a lower fair value estimate of CA$64.65, down from CA$67.96. They cite updated assumptions for revenue growth, profit margins, and a slightly higher discount rate applied to future cash flows.
LUN
CA$35.32
Lundin Mining
7D
-6.2%
1Y
125.5%
EDR
CA$14.76
Endeavour Silver
7D
11.1%
1Y
92.2%
Narrative Update • Aug 06

EDR: Q2 Production Strength And Terronera Exploration Will Support Future Upside

Analysts have trimmed their fair value estimate for Endeavour Silver to CA$25.00 from CA$27.00, citing lower price targets such as B. Riley's move to CA$14 and slightly more conservative assumptions around growth, margins and future P/E multiples.
ELD
CA$55.09
Eldorado Gold
7D
4.3%
1Y
74.6%
Narrative Update • Aug 03

ELD: Future Returns Will Rely On Projects Ramping As Leadership Changes Proceed

Analysts have trimmed their CA$ price target on Eldorado Gold, reflecting updated assumptions that include a lower fair value estimate, a slightly higher discount rate, more moderate expectations for revenue growth and a reduced future P/E multiple, partly offset by stronger profit margin expectations. What's in the News for Eldorado Gold Exyn Technologies reported that its Exyn Nexys autonomous mapping solution at Eldorado Gold's Tüprag mine in Turkey reduced underground survey times from 40 minutes to 5 minutes and expanded mapping coverage by 300%, helping access previously unreachable mineral resources.