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

UpdatedAug 07, 2026
DataAggregated Company Financials
Companies125
  • 7D5.6%
  • 3M-3.0%
  • 1Y77.6%
  • YTD22.2%

Over the last 7 days, the Metals and Mining industry has risen 5.6%, driven by gains from Rio Tinto Group of 4.5%. In the same time, Zanaga Iron Ore was down 15%. This means that the industry has gained 78% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 07 Aug 2026UK£311.7bUK£303.0bUK£14.6b14.4x21.4x1x
Sun, 05 Jul 2026UK£297.3bUK£257.7bUK£8.7b17.1x34.3x1.2x
Tue, 02 Jun 2026UK£327.4bUK£255.5bUK£8.6b19.8x38x1.3x
Thu, 30 Apr 2026UK£299.4bUK£255.2bUK£8.5b18.1x35.2x1.2x
Sat, 28 Mar 2026UK£277.9bUK£259.1bUK£8.7b19.4x31.9x1.1x
Mon, 23 Feb 2026UK£306.5bUK£260.5bUK£7.8b20.9x39.5x1.2x
Wed, 21 Jan 2026UK£281.0bUK£244.8bUK£5.9b20.4x47.3x1.1x
Fri, 19 Dec 2025UK£243.9bUK£246.3bUK£6.0b17.1x40.7x1x
Sun, 16 Nov 2025UK£223.7bUK£250.6bUK£6.1b14.6x36.4x0.9x
Tue, 14 Oct 2025UK£221.6bUK£247.6bUK£6.1b16.3x36.6x0.9x
Thu, 11 Sep 2025UK£190.4bUK£243.7bUK£5.9b11.5x32.3x0.8x
Sat, 09 Aug 2025UK£178.7bUK£244.5bUK£5.8b9.7x30.6x0.7x
Mon, 07 Jul 2025UK£171.9bUK£240.8bUK£5.8b8.2x29.5x0.7x
Wed, 04 Jun 2025UK£168.7bUK£243.2bUK£5.9b9.4x28.4x0.7x
Fri, 02 May 2025UK£165.4bUK£247.5bUK£6.1b8.3x27.2x0.7x
Sun, 30 Mar 2025UK£178.1bUK£253.7bUK£6.2b8.6x28.7x0.7x
Tue, 25 Feb 2025UK£185.0bUK£259.2bUK£6.4b9x29.1x0.7x
Thu, 23 Jan 2025UK£194.6bUK£265.0bUK£7.9b9.4x24.6x0.7x
Sat, 21 Dec 2024UK£180.5bUK£259.5bUK£7.7b9.4x23.3x0.7x
Mon, 18 Nov 2024UK£186.9bUK£259.8bUK£7.8b9.9x24x0.7x
Wed, 16 Oct 2024UK£195.3bUK£250.7bUK£7.5b10.7x26x0.8x
Fri, 13 Sep 2024UK£181.1bUK£249.7bUK£7.5b10.4x24.1x0.7x
Sun, 11 Aug 2024UK£191.7bUK£256.6bUK£7.7b11.1x25x0.7x
Tue, 09 Jul 2024UK£212.1bUK£248.6bUK£12.3b13.2x17.2x0.9x
Thu, 06 Jun 2024UK£212.1bUK£249.1bUK£12.3b15.2x17.3x0.9x
Sat, 04 May 2024UK£217.1bUK£254.0bUK£12.5b14.4x17.3x0.9x
Mon, 01 Apr 2024UK£195.4bUK£252.7bUK£12.6b12.5x15.5x0.8x
Wed, 28 Feb 2024UK£183.8bUK£251.3bUK£12.6b11.1x14.6x0.7x
Fri, 26 Jan 2024UK£206.8bUK£304.4bUK£27.6b8.8x7.5x0.7x
Sun, 24 Dec 2023UK£221.3bUK£304.4bUK£27.6b10.4x8x0.7x
Tue, 21 Nov 2023UK£215.5bUK£308.5bUK£27.9b10.2x7.7x0.7x
Thu, 19 Oct 2023UK£206.0bUK£316.2bUK£28.4b9.9x7.3x0.7x
Sat, 16 Sep 2023UK£210.0bUK£310.6bUK£28.1b7.2x7.5x0.7x
Mon, 14 Aug 2023UK£200.5bUK£304.3bUK£27.8b7.1x7.2x0.7x
Price to Earnings Ratio

7.2x


Total Market Cap: UK£200.5bTotal Earnings: UK£27.8bTotal Revenue: UK£304.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 25.1x202420252026
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 21.4x which is lower than its 3-year average PE of 25.1x.
  • 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 Market0.17%
Materials5.53%
Metals and Mining5.63%
Gold7.67%
Copper7.27%
Steel5.97%
Diversified Metals and Mining5.07%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-0.87%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 29.3x.
    • Analysts are expecting annual earnings growth of 15.6%, 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 41% over the next 5 years.
  • However this is lower than its past earnings growth rate of 228% per year.
  • In contrast, the Steel industry is expected to see its earnings grow by 9.7% 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
RIO Rio Tinto GroupUK£74.574.5%
+UK£5.2b		65.7%PE13.5x
GLEN GlencoreUK£5.665.0%
+UK£3.3b		101.8%PE16.5x
AAL Anglo AmericanUK£39.766.7%
+UK£2.7b		85.4%PS2.9x
ANTO AntofagastaUK£39.747.3%
+UK£2.7b		101.3%PE39.7x
FRES FresnilloUK£27.388.6%
+UK£1.6b		63.7%PE11.9x

Latest News

GLEN
UK£5.66
Glencore
7D
5.0%
1Y
101.8%
SML
UK£0.037
Strategic Minerals
7D
-3.2%
1Y
1,050.0%
PAF
UK£1.02
Pan African Resources
7D
7.0%
1Y
65.5%
FRES
UK£27.38
Fresnillo
7D
8.6%
1Y
63.7%
HOC
UK£4.80
Hochschild Mining
7D
9.3%
1Y
57.1%
Narrative Update • Aug 06

HOC: Recent Rating Upgrades Will Shape Balanced Risk Reward Outlook

The analyst fair value estimate for Hochschild Mining has moved from £3.50 to £4.94 per share, reflecting recent price target increases and initiations from several firms that see renewed opportunities in the stock after the recent pullback. Analyst Commentary Recent research on Hochschild Mining shows a mix of optimism and caution.
ANTO
UK£39.74
Antofagasta
7D
7.3%
1Y
101.3%
Narrative Update • Aug 04

ANTO: Copper Supply Resilience And Free Cash Flow Timing Will Shape Future Returns

Antofagasta's updated fair value estimate edges up to about £38.80 from £38.00, as analysts balance slightly lower revenue growth assumptions with firmer profit margins and a higher future P/E. This is reflected in recent price target moves between about £33.40 and £45.00 across the Street.
HILS
UK£30.90
Hill & Smith
7D
7.3%
1Y
53.0%
Narrative Update • Aug 04

HILS: Peer Discount And 2026 Guidance Will Support Further Re Rating

Analysts have lifted their Hill & Smith fair value estimate from £34.56 to £40.00, citing higher price targets from recent research and expectations for stronger fiscal 2026 organic revenue growth relative to U.S. peers. Analyst Commentary Bullish analysts see the recent Hill & Smith fair value uplift as part of a wider re-rating trend, with fresh price targets aligning more closely with the company’s updated outlook for fiscal 2026 organic revenue growth.
SAV
UK£0.056
Savannah Resources
7D
-4.0%
1Y
67.7%
Analysis Article • Aug 04

We Think Savannah Resources (LON:SAV) Can Afford To Drive Business Growth

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
EUA
UK£0.023
Eurasia Mining
7D
-8.0%
1Y
-53.1%
ZIOC
UK£0.035
Zanaga Iron Ore
7D
-14.6%
1Y
-55.2%
AAL
UK£39.76
Anglo American
7D
6.7%
1Y
85.4%
RIO
UK£74.57
Rio Tinto Group
7D
4.5%
1Y
65.7%
Narrative Update • Jul 30

RIO: Strong Copper And Dividend Momentum Will Mask Iron Ore Risk

Analysts have trimmed the Rio Tinto Group fair value estimate to £60.16 per share from £57.92, reflecting a mix of lower Street price targets around £7,100 to £8,600, reduced long term revenue and margin assumptions, a slightly higher discount rate, and higher future P/E expectations following recent upgrades and downgrades. Analyst Commentary Recent Street research on Rio Tinto Group shows a split picture.
CGS
UK£2.95
Castings
7D
-3.6%
1Y
3.1%
BZT
UK£0.0012
Bezant Resources
7D
-12.6%
1Y
195.0%
CORA
UK£0.085
Cora Gold
7D
-2.9%
1Y
33.3%
AFP
UK£0.02
African Pioneer
7D
-21.9%
1Y
95.1%