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U.K. (FTSE) Metals and Mining Industry Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies124
  • 7D-3.0%
  • 3M9.7%
  • 1Y86.2%
  • YTD24.6%

Last week, the Metals and Mining industry hasn't moved much but Glencore is up 3.9% in that time. The past year has been better, since the industry has gained 91% in that time. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

Has the U.K. Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026UK£318.7bUK£257.9bUK£8.7b18.3x36.6x1.2x
Mon, 04 May 2026UK£306.1bUK£253.4bUK£8.5b18.5x36.1x1.2x
Wed, 01 Apr 2026UK£291.0bUK£259.8bUK£8.7b20.1x33.3x1.1x
Fri, 27 Feb 2026UK£317.7bUK£254.3bUK£7.9b21.9x40x1.2x
Sun, 25 Jan 2026UK£290.1bUK£241.8bUK£5.9b21.5x49.4x1.2x
Tue, 23 Dec 2025UK£248.5bUK£245.1bUK£6.0b18.1x41.7x1x
Thu, 20 Nov 2025UK£218.2bUK£252.3bUK£6.2b14.4x35.4x0.9x
Sat, 18 Oct 2025UK£215.2bUK£245.6bUK£6.0b15.3x35.9x0.9x
Mon, 15 Sep 2025UK£192.1bUK£243.3bUK£5.9b11.6x32.5x0.8x
Wed, 13 Aug 2025UK£181.8bUK£243.7bUK£5.8b11x31.3x0.7x
Fri, 11 Jul 2025UK£175.6bUK£242.1bUK£5.9b8.5x30x0.7x
Sun, 08 Jun 2025UK£174.4bUK£242.9bUK£5.9b9.6x29.4x0.7x
Tue, 06 May 2025UK£167.9bUK£247.5bUK£6.1b8.4x27.6x0.7x
Thu, 03 Apr 2025UK£172.3bUK£253.1bUK£6.2b8.4x27.8x0.7x
Sat, 01 Mar 2025UK£180.4bUK£260.2bUK£6.4b8.9x28.3x0.7x
Mon, 27 Jan 2025UK£192.5bUK£261.6bUK£7.8b9.4x24.7x0.7x
Wed, 25 Dec 2024UK£181.9bUK£260.6bUK£7.8b9.4x23.4x0.7x
Fri, 22 Nov 2024UK£190.8bUK£260.0bUK£7.8b10.1x24.5x0.7x
Sun, 20 Oct 2024UK£197.7bUK£251.2bUK£7.5b10.7x26.3x0.8x
Tue, 17 Sep 2024UK£183.7bUK£247.9bUK£7.5b10.6x24.7x0.7x
Thu, 15 Aug 2024UK£189.7bUK£255.2bUK£7.6b11.1x24.8x0.7x
Sat, 13 Jul 2024UK£213.1bUK£245.2bUK£12.2b13.4x17.5x0.9x
Mon, 10 Jun 2024UK£212.4bUK£250.4bUK£12.4b14.7x17.2x0.8x
Wed, 08 May 2024UK£220.9bUK£254.8bUK£12.6b15.1x17.6x0.9x
Fri, 05 Apr 2024UK£204.3bUK£252.3bUK£12.6b14.1x16.2x0.8x
Sun, 03 Mar 2024UK£185.7bUK£251.8bUK£12.6b10.9x14.7x0.7x
Tue, 30 Jan 2024UK£210.6bUK£304.3bUK£27.6b9x7.6x0.7x
Thu, 28 Dec 2023UK£222.8bUK£302.5bUK£27.5b10.4x8.1x0.7x
Sat, 25 Nov 2023UK£212.8bUK£306.6bUK£27.7b10.6x7.7x0.7x
Mon, 23 Oct 2023UK£198.8bUK£315.9bUK£28.4b9.9x7x0.6x
Wed, 20 Sep 2023UK£211.7bUK£310.8bUK£28.0b7.2x7.5x0.7x
Fri, 18 Aug 2023UK£192.6bUK£303.3bUK£27.7b6.8x7x0.6x
Sun, 16 Jul 2023UK£215.0bUK£321.6bUK£37.8b7.5x5.7x0.7x
Tue, 13 Jun 2023UK£210.1bUK£335.1bUK£39.1b7.5x5.4x0.6x
Price to Earnings Ratio

5.4x


Total Market Cap: UK£210.1bTotal Earnings: UK£39.1bTotal Revenue: UK£335.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 23.5x202420252026
Current Industry PE
  • Investors are optimistic on the British Metals and Mining industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 38.4x which is higher than its 3-year average PE of 23.5x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 40% per year over the last three years,
  • Revenues have also declined 8.5% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.K. Materials industry?

GB Market-0.73%
Materials-3.01%
Metals and Mining-3.00%
Steel0.63%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-2.04%
Diversified Metals and Mining-2.05%
Copper-3.41%
Gold-13.85%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 27.8x.
    • Analysts are expecting annual earnings growth of 11.1%, which is lower than the prior year's growth of 49.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 39% over the next 5 years.
  • However this is lower than its past earnings growth rate of 228% per year.
  • In contrast, the Copper industry is expected to see its earnings grow by 11% 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
GLEN GlencoreUK£5.903.9%
+UK£2.6b		104.9%PE254.1x
CGS CastingsUK£3.2118.9%
+UK£22.2m		19.6%PE28.9x
HILS Hill & SmithUK£27.950.9%
+UK£19.6m		55.3%PE26.6x
TIN Cornish MetalsUK£1.1014.6%
+UK£17.6m		41.9%PB1.4x
GFM Griffin MiningUK£3.222.2%
+UK£12.4m		91.1%PE34.4x

Latest News

FRES
UK£29.86
Fresnillo
7D
-9.1%
1Y
122.5%
CAML
UK£1.33
Central Asia Metals
7D
-14.5%
1Y
-19.2%
EGT
UK£0.10
European Green Transition
7D
20.0%
1Y
44.8%
RIO
UK£76.04
Rio Tinto Group
7D
-4.6%
1Y
74.6%
Narrative Update • Jun 04

RIO: Low-Carbon Aluminium And Copper Projects Will Drive Future Upside

Rio Tinto Group's analyst fair value estimate has been adjusted higher from £89.78 to £91.63 as analysts factor in updated assumptions for discount rates, revenue growth, profit margins and future P/E. Recent Street research reflects a mix of higher price targets and rating downgrades based on valuation and macro risk concerns.
GLEN
UK£5.90
Glencore
7D
3.9%
1Y
104.9%
CGS
UK£3.21
Castings
7D
18.9%
1Y
19.6%
HOC
UK£5.42
Hochschild Mining
7D
-12.0%
1Y
79.1%
Narrative Update • Jun 04

HOC: Structurally Bullish Gold View Will Drive Repricing Potential

Hochschild Mining's analyst price target has been revised to £8.13 from £8.04, as analysts factor in recent target changes from major brokers and their continued positive stance on gold equities. Analyst Commentary Bullish Takeaways JPMorgan's upgrade of Hochschild Mining to Overweight signals that some bullish analysts see the risk reward as attractive at current share levels, particularly for investors positive on gold equities.
PAF
UK£1.06
Pan African Resources
7D
-22.7%
1Y
128.8%
Narrative Update • Jun 04

PAF: Future Cash Flow Delivery Will Support Premium Re Rating Potential

Analysts have trimmed their fair value estimate for Pan African Resources to £1.82 from £1.84, citing slightly higher discount rates, more conservative revenue growth and profit margin assumptions, and a modestly higher future P/E multiple, in line with recent Street price target reductions from £1.90 to £1.81. Analyst Commentary Bullish Takeaways Bullish analysts still see upside relative to current trading levels, as indicated by price targets that remain above the revised fair value estimate of £1.82.
AAL
UK£38.56
Anglo American
7D
-3.3%
1Y
73.9%
Narrative Update • Jun 02

AAL: Copper And Iron Ore Downside Risks Will Drive Cautious Outlook

Anglo American's analyst fair value estimate has edged up from £36.53 to £36.80 as analysts refine their assumptions around discount rates, profit margins and future P/E expectations. Street price targets have been adjusted in a tight range between about £28.00 and £40.00.
GFM
UK£3.22
Griffin Mining
7D
2.2%
1Y
91.1%
HILS
UK£27.95
Hill & Smith
7D
0.9%
1Y
55.3%
ATYM
UK£7.88
Atalaya Mining Copper
7D
-9.9%
1Y
74.7%
Analysis Article • May 27

Atalaya Mining Copper, S.A. (LON:ATYM) Analysts Just Cut Their EPS Forecasts Substantially

The latest analyst coverage could presage a bad day for Atalaya Mining Copper, S.A. ( LON:ATYM ), with the analysts...
ANTO
UK£39.70
Antofagasta
7D
-3.1%
1Y
109.4%
Narrative Update • May 15

ANTO: Geopolitical And Sector Risks Will Likely Pressure Copper Upside Potential

Analysts have nudged the fair value estimate for Antofagasta slightly lower to £23.50 from about £23.72, reflecting a modestly higher discount rate and mixed price target revisions, with several recent moves in the £100 to £600 range across the broker community. Analyst Commentary Recent Street research on Antofagasta shows a wide spread of views, with some firms lifting price targets while others turn more cautious.
KDNC
UK£0.073
Cadence Minerals
7D
19.5%
1Y
352.3%
FCM
UK£0.043
First Class Metals
7D
53.6%
1Y
100.0%
TIN
UK£1.10
Cornish Metals
7D
14.6%
1Y
41.9%