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

UpdatedAug 14, 2026
DataAggregated Company Financials
Companies124
  • 7D-2.3%
  • 3M-5.0%
  • 1Y71.2%
  • YTD19.6%

Over the last 7 days, the Metals and Mining industry has dropped 2.3%, driven by Rio Tinto Group declining 3.9%. In the past year, the industry has gained 71%. As for the next few years, earnings are expected to grow by 12% 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, 15 Aug 2026UK£305.1bUK£301.7bUK£14.7b15.2x20.7x1x
Mon, 13 Jul 2026UK£286.5bUK£256.8bUK£8.6b15.9x33.2x1.1x
Wed, 10 Jun 2026UK£310.2bUK£257.2bUK£8.7b17.6x35.8x1.2x
Fri, 08 May 2026UK£318.9bUK£253.1bUK£8.5b19.6x37.7x1.3x
Sun, 05 Apr 2026UK£297.0bUK£260.6bUK£8.7b20.7x34x1.1x
Tue, 03 Mar 2026UK£320.7bUK£254.6bUK£8.1b21.6x39.8x1.3x
Thu, 29 Jan 2026UK£296.6bUK£239.3bUK£5.8b22.3x51x1.2x
Sat, 27 Dec 2025UK£252.9bUK£244.5bUK£5.9b18.5x42.6x1x
Mon, 24 Nov 2025UK£213.5bUK£251.8bUK£6.2b14.9x34.7x0.8x
Wed, 22 Oct 2025UK£218.3bUK£246.4bUK£6.0b14.6x36.2x0.9x
Fri, 19 Sep 2025UK£192.2bUK£243.6bUK£5.9b11.8x32.4x0.8x
Sun, 17 Aug 2025UK£180.6bUK£243.2bUK£6.0b10.1x30.1x0.7x
Tue, 15 Jul 2025UK£176.5bUK£244.8bUK£5.9b8.4x29.8x0.7x
Thu, 12 Jun 2025UK£171.1bUK£242.8bUK£5.9b8.4x28.9x0.7x
Sat, 10 May 2025UK£167.9bUK£246.8bUK£6.1b8.4x27.7x0.7x
Mon, 07 Apr 2025UK£152.8bUK£255.2bUK£6.2b7.7x24.5x0.6x
Wed, 05 Mar 2025UK£179.4bUK£257.3bUK£6.3b8.8x28.3x0.7x
Fri, 31 Jan 2025UK£183.6bUK£262.3bUK£7.8b9.4x23.5x0.7x
Sun, 29 Dec 2024UK£181.2bUK£259.6bUK£7.7b9x23.4x0.7x
Tue, 26 Nov 2024UK£191.6bUK£260.2bUK£7.8b10x24.7x0.7x
Thu, 24 Oct 2024UK£195.6bUK£253.3bUK£7.6b10.1x25.8x0.8x
Sat, 21 Sep 2024UK£185.3bUK£246.0bUK£7.4b11x25.1x0.8x
Mon, 19 Aug 2024UK£188.2bUK£252.9bUK£7.5b11.5x24.9x0.7x
Wed, 17 Jul 2024UK£205.6bUK£245.4bUK£12.2b13.9x16.9x0.8x
Fri, 14 Jun 2024UK£208.6bUK£249.6bUK£12.3b14.2x16.9x0.8x
Sun, 12 May 2024UK£223.7bUK£254.4bUK£12.6b15.9x17.8x0.9x
Tue, 09 Apr 2024UK£206.8bUK£251.9bUK£12.6b13.8x16.4x0.8x
Thu, 07 Mar 2024UK£185.4bUK£250.4bUK£12.6b11.4x14.8x0.7x
Sat, 03 Feb 2024UK£206.7bUK£305.8bUK£27.7b10.1x7.5x0.7x
Mon, 01 Jan 2024UK£222.9bUK£303.5bUK£27.5b9.8x8.1x0.7x
Wed, 29 Nov 2023UK£212.0bUK£304.3bUK£27.6b10.6x7.7x0.7x
Fri, 27 Oct 2023UK£203.0bUK£317.0bUK£28.4b10x7.1x0.6x
Sun, 24 Sep 2023UK£209.4bUK£314.1bUK£28.3b7.3x7.4x0.7x
Tue, 22 Aug 2023UK£190.1bUK£303.5bUK£27.7b7x6.9x0.6x
Price to Earnings Ratio

6.9x


Total Market Cap: UK£190.1bTotal Earnings: UK£27.7bTotal Revenue: UK£303.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 25.2x202420252026
Current Industry PE
  • Investors are pessimistic on the British 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 20.7x which is lower than its 3-year average PE of 25.2x.
  • The 3-year average PS ratio of 0.84x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 19% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

GB Market-0.77%
Materials-2.17%
Metals and Mining-2.29%
Gold5.00%
Precious Metals and Minerals4.99%
Aluminum0%0
Silver0%0
Steel-1.63%
Diversified Metals and Mining-2.57%
Copper-5.39%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 29.5x.
    • Analysts are expecting annual earnings growth of 12.8%, which is lower than the prior year's growth of 53.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 41% over the next 5 years.
  • However this is lower than its past earnings growth rate of 228% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 12% 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
FRES FresnilloUK£28.800.6%
+UK£117.9m		68.6%PE12.6x
TUN Tungsten WestUK£0.4210.5%
+UK£49.9m		342.1%PE-10.8x
GMET Guardian Metal ResourcesUK£1.9112.1%
+UK£39.9m		252.8%PB14.5x
SML Strategic MineralsUK£0.0539.7%
+UK£39.7m		1,474.6%PE4615.5x
ALTN AltynGoldUK£10.456.6%
+UK£17.8m		56.0%PE6.2x

Latest News

1SN
UK£0.13
First Tin
7D
22.8%
1Y
116.4%
HILS
UK£29.30
Hill & Smith
7D
-5.3%
1Y
35.6%
ANTO
UK£35.85
Antofagasta
7D
-9.9%
1Y
68.9%
RIO
UK£70.59
Rio Tinto Group
7D
-6.2%
1Y
56.4%
ATYM
UK£9.17
Atalaya Mining Copper
7D
-5.3%
1Y
76.7%
GLEN
UK£5.49
Glencore
7D
-1.5%
1Y
83.1%
AAL
UK£38.50
Anglo American
7D
-4.3%
1Y
77.4%
Narrative Update • Aug 12

AAL: Copper Shift And De Beers Sale Will Drive Future Rerating

The Anglo American analyst price target has been revised modestly higher to reflect a fair value uplift to about £48.30 from roughly £47.32, with analysts pointing to mixed signals that include slightly lower assumed revenue growth, a small improvement in projected profit margins, and updated views on cost risks in iron ore and the relative role of copper across the mining sector. Analyst Commentary Recent Street research on Anglo American shows a split in opinion, with some firms turning more cautious and others raising price targets.
FRES
UK£28.80
Fresnillo
7D
0.6%
1Y
68.6%
Narrative Update • Aug 12

FRES: Improving Fundamentals And Dividend Capacity Will Support Higher Future Multiple

The analyst fair value estimate for Fresnillo has moved from about £28.64 to about £33.30 as analysts factor in a mix of adjusted price targets across the Street, with expectations for improving fundamentals, changes in assumed revenue growth and margins, and a higher future P/E multiple. Analyst Commentary Recent Street research on Fresnillo shows a split view on the stock, with some analysts pointing to potential upside based on earnings power and others highlighting valuation and execution risks.
PAF
UK£1.09
Pan African Resources
7D
-1.1%
1Y
74.6%
Narrative Update • Aug 10

PAF: Higher 2026 Output Guidance Will Support Premium Re Rating Potential

Analysts have trimmed their price target on Pan African Resources from £1.70 to about £1.60, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E, following recent sector coverage that highlights both opportunities and risks in precious metal mining shares. What’s in the News for Pan African Resources Pan African Resources issued new production guidance for the second half of the financial year ending 30 June 2026, indicating a material increase in gold output of about 14% to 147,000oz compared with 128,296oz in the first half.
ECOR
UK£1.64
Ecora Royalties
7D
3.8%
1Y
125.3%
ALTN
UK£10.45
AltynGold
7D
6.6%
1Y
56.0%
SML
UK£0.05
Strategic Minerals
7D
39.7%
1Y
1,474.6%
ATM
UK£0.045
Andrada Mining
7D
15.2%
1Y
51.7%
GMET
UK£1.91
Guardian Metal Resources
7D
12.1%
1Y
252.8%
TUN
UK£0.42
Tungsten West
7D
10.5%
1Y
342.1%
GFM
UK£2.71
Griffin Mining
7D
-7.5%
1Y
43.4%