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

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies124
  • 7D3.1%
  • 3M2.6%
  • 1Y91.5%
  • YTD27.9%

In the last week, the Metals and Mining industry is up 3.1%, with Rio Tinto Group up 3.5%. This means that the industry has gained 91% over the past year. 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
Thu, 28 May 2026UK£326.6bUK£256.2bUK£8.6b19.4x37.8x1.3x
Sat, 25 Apr 2026UK£308.9bUK£254.1bUK£8.5b18.6x36.4x1.2x
Mon, 23 Mar 2026UK£267.1bUK£257.9bUK£8.8b16.5x30.2x1x
Wed, 18 Feb 2026UK£296.9bUK£243.6bUK£5.9b21.6x50.2x1.2x
Fri, 16 Jan 2026UK£284.4bUK£246.4bUK£6.0b20.3x47.5x1.2x
Sun, 14 Dec 2025UK£235.9bUK£246.9bUK£6.0b17.4x39.2x1x
Tue, 11 Nov 2025UK£220.3bUK£250.8bUK£6.1b15x35.9x0.9x
Thu, 09 Oct 2025UK£217.6bUK£246.3bUK£6.0b14.2x36.1x0.9x
Sat, 06 Sep 2025UK£186.9bUK£244.3bUK£5.9b11.6x31.7x0.8x
Mon, 04 Aug 2025UK£173.7bUK£247.4bUK£6.2b9.4x28.1x0.7x
Wed, 02 Jul 2025UK£166.9bUK£239.5bUK£5.8b7.8x28.6x0.7x
Fri, 30 May 2025UK£173.1bUK£243.6bUK£5.9b9.7x29.1x0.7x
Sun, 27 Apr 2025UK£170.2bUK£246.7bUK£6.0b8.5x28.1x0.7x
Tue, 25 Mar 2025UK£181.9bUK£254.2bUK£6.3b8.8x29x0.7x
Thu, 20 Feb 2025UK£192.1bUK£258.9bUK£7.7b9.4x25x0.7x
Sat, 18 Jan 2025UK£194.1bUK£268.1bUK£8.0b9.3x24.3x0.7x
Mon, 16 Dec 2024UK£189.5bUK£258.8bUK£7.7b9.3x24.6x0.7x
Wed, 13 Nov 2024UK£185.3bUK£257.0bUK£7.7b9.6x24.1x0.7x
Fri, 11 Oct 2024UK£199.6bUK£250.9bUK£7.5b10.7x26.6x0.8x
Sun, 08 Sep 2024UK£175.0bUK£249.4bUK£7.5b9.9x23.4x0.7x
Tue, 06 Aug 2024UK£190.0bUK£248.9bUK£11.4b11x16.6x0.8x
Thu, 04 Jul 2024UK£213.2bUK£249.4bUK£12.4b13.2x17.2x0.9x
Sat, 01 Jun 2024UK£219.0bUK£250.0bUK£12.3b15.8x17.8x0.9x
Mon, 29 Apr 2024UK£219.2bUK£255.0bUK£12.6b14.4x17.4x0.9x
Wed, 27 Mar 2024UK£191.7bUK£252.6bUK£12.6b12.1x15.2x0.8x
Fri, 23 Feb 2024UK£185.7bUK£253.4bUK£14.1b10.6x13.2x0.7x
Sun, 21 Jan 2024UK£202.4bUK£304.5bUK£27.6b9.5x7.3x0.7x
Tue, 19 Dec 2023UK£216.2bUK£305.9bUK£27.7b10.2x7.8x0.7x
Thu, 16 Nov 2023UK£213.6bUK£310.1bUK£28.0b10.2x7.6x0.7x
Sat, 14 Oct 2023UK£206.2bUK£316.5bUK£28.4b9.8x7.3x0.7x
Mon, 11 Sep 2023UK£197.7bUK£309.6bUK£28.0b7.3x7.1x0.6x
Wed, 09 Aug 2023UK£204.2bUK£324.9bUK£33.6b7.4x6.1x0.6x
Fri, 07 Jul 2023UK£201.4bUK£329.8bUK£38.6b7.4x5.2x0.6x
Sun, 04 Jun 2023UK£209.0bUK£336.0bUK£39.2b8.2x5.3x0.6x
Price to Earnings Ratio

5.3x


Total Market Cap: UK£209.0bTotal Earnings: UK£39.2bTotal Revenue: UK£336.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 23.2x202420252026
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 37.8x which is higher than its 3-year average PE of 23.2x.
  • The 3-year average PS ratio of 0.80x 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 8.6% 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 Market0.93%
Materials3.21%
Metals and Mining3.07%
Copper7.04%
Steel4.65%
Diversified Metals and Mining3.14%
Gold0.26%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-3.32%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 27.6x.
    • Analysts are expecting annual earnings growth of 11.0%, 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 45% 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
ANTO AntofagastaUK£40.937.1%
+UK£2.7b		130.5%PE40.8x
RIO Rio Tinto GroupUK£79.252.0%
+UK£2.6b		77.7%PE17.3x
AAL Anglo AmericanUK£39.935.1%
+UK£2.1b		59.5%PS3.1x
ATYM Atalaya Mining CopperUK£8.638.3%
+UK£102.2m		96.8%PE18.3x
HILS Hill & SmithUK£27.604.3%
+UK£90.2m		49.0%PE26.2x

Latest News

HILS
UK£27.60
Hill & Smith
7D
4.3%
1Y
49.0%
ATYM
UK£8.63
Atalaya Mining Copper
7D
8.3%
1Y
96.8%
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...
AAZ
UK£3.30
Anglo Asian Mining
7D
8.2%
1Y
140.9%
MTL
UK£0.13
Metals Exploration
7D
-8.6%
1Y
59.8%
RBW
UK£0.24
Rainbow Rare Earths
7D
-3.9%
1Y
113.0%
New Narrative • May 24

Future Rare Earth Demand And Phosphogypsum Recycling Will Support A Stronger Long Term Outlook

Catalysts About Rainbow Rare Earths Rainbow Rare Earths focuses on recovering and separating rare earth elements from phosphogypsum waste at projects in South Africa and Brazil. What are the underlying business or industry changes driving this perspective?
GMET
UK£2.30
Guardian Metal Resources
7D
-9.8%
1Y
482.3%
KMR
UK£2.15
Kenmare Resources
7D
-7.7%
1Y
-43.7%
PAF
UK£1.37
Pan African Resources
7D
-0.7%
1Y
196.2%
Narrative Update • May 21

PAF: Future Earnings Delivery Will Support Re Rating Potential Despite Recent Recalibration

Analysts have trimmed their price target on Pan African Resources to about £1.81 from roughly £1.90, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts continue to see value in the stock despite the reduced price target, as the updated £1.81 figure still implies room for upside relative to recent trading levels.
RIO
UK£79.25
Rio Tinto Group
7D
2.0%
1Y
77.7%
AAL
UK£39.93
Anglo American
7D
5.1%
1Y
59.5%
GFM
UK£3.15
Griffin Mining
7D
4.8%
1Y
81.8%
HOC
UK£5.97
Hochschild Mining
7D
0.9%
1Y
118.5%
Narrative Update • May 19

HOC: Structurally Bullish Gold View Will Support Repricing Potential

Analysts have trimmed the fair value estimate for Hochschild Mining slightly, with the updated price target now implying a value of about £8.04 per share compared with £8.07 previously. This reflects recent cuts to Street targets in £40 to £110 increments, alongside only marginal tweaks to growth, margin and P/E assumptions.
FRES
UK£32.40
Fresnillo
7D
-1.7%
1Y
176.7%
Narrative Update • May 18

FRES: Production Slippage And Diverging Street Views Will Pressure Future Returns

Fresnillo’s updated analyst price target has shifted to reflect mixed recent moves, including a £4.00 increase at Citi and several reductions of £1.00 to £4.00 at other firms, as analysts factor in revised assumptions for discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research on Fresnillo shows a split view, with some higher price targets sitting alongside a series of reductions.
ANTO
UK£40.93
Antofagasta
7D
7.1%
1Y
130.5%
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.
GLEN
UK£5.74
Glencore
7D
-0.07%
1Y
106.4%
SLP
UK£0.97
Sylvania Platinum
7D
-3.2%
1Y
64.1%