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

UpdatedJan 05, 2026
DataAggregated Company Financials
Companies123
  • 7D1.8%
  • 3M20.1%
  • 1Y40.6%
  • YTD0%

The Metals and Mining industry is up 1.5% in the last week, with Glencore up 3.7%. In the last 12 months, the industry was up 42%. Earnings are forecast to grow by 27% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 05 Jan 2026UK£256.5bUK£245.1bUK£5.9b19.5x43.1x1x
Wed, 03 Dec 2025UK£227.8bUK£250.3bUK£6.1b16.8x37.2x0.9x
Fri, 31 Oct 2025UK£224.8bUK£251.0bUK£6.1b14.7x36.6x0.9x
Sun, 28 Sep 2025UK£207.6bUK£246.2bUK£6.0b13.7x34.6x0.8x
Tue, 26 Aug 2025UK£181.3bUK£244.0bUK£5.9b10.5x30.6x0.7x
Thu, 24 Jul 2025UK£185.8bUK£242.0bUK£5.9b9x31.7x0.8x
Sat, 21 Jun 2025UK£164.2bUK£244.4bUK£6.0b7.6x27.5x0.7x
Mon, 19 May 2025UK£172.9bUK£247.5bUK£6.1b8.7x28.4x0.7x
Wed, 16 Apr 2025UK£163.4bUK£248.4bUK£6.1b9x26.9x0.7x
Fri, 14 Mar 2025UK£179.4bUK£253.7bUK£6.2b8.6x28.8x0.7x
Sun, 09 Feb 2025UK£191.9bUK£263.2bUK£7.8b9.6x24.5x0.7x
Tue, 07 Jan 2025UK£184.0bUK£260.7bUK£7.8b9.1x23.7x0.7x
Thu, 05 Dec 2024UK£192.9bUK£257.0bUK£7.7b9.6x25.2x0.8x
Sat, 02 Nov 2024UK£197.9bUK£253.5bUK£7.6b10.7x26x0.8x
Mon, 30 Sep 2024UK£207.2bUK£244.9bUK£7.3b11x28.2x0.8x
Wed, 28 Aug 2024UK£192.0bUK£246.9bUK£7.3b11.4x26.3x0.8x
Fri, 26 Jul 2024UK£196.9bUK£247.7bUK£12.3b13.7x16x0.8x
Sun, 23 Jun 2024UK£208.5bUK£251.9bUK£12.4b12.8x16.7x0.8x
Tue, 21 May 2024UK£231.2bUK£250.7bUK£12.3b16.3x18.7x0.9x
Thu, 18 Apr 2024UK£212.3bUK£255.9bUK£12.8b13.4x16.6x0.8x
Sat, 16 Mar 2024UK£188.9bUK£250.4bUK£12.5b12.6x15.1x0.8x
Mon, 12 Feb 2024UK£187.4bUK£261.4bUK£17.9b11.2x10.5x0.7x
Wed, 10 Jan 2024UK£212.3bUK£304.1bUK£27.6b9.7x7.7x0.7x
Fri, 08 Dec 2023UK£215.5bUK£307.0bUK£27.8b9.1x7.8x0.7x
Sun, 05 Nov 2023UK£208.5bUK£311.3bUK£28.0b10.2x7.4x0.7x
Tue, 03 Oct 2023UK£211.0bUK£316.7bUK£28.4b9.7x7.4x0.7x
Thu, 31 Aug 2023UK£200.5bUK£304.2bUK£27.8b7x7.2x0.7x
Sat, 29 Jul 2023UK£214.4bUK£322.3bUK£33.4b8.1x6.4x0.7x
Mon, 26 Jun 2023UK£204.7bUK£329.8bUK£38.6b7.3x5.3x0.6x
Wed, 24 May 2023UK£204.2bUK£336.6bUK£39.3b7.9x5.2x0.6x
Fri, 21 Apr 2023UK£231.6bUK£336.0bUK£39.3b9.1x5.9x0.7x
Sun, 19 Mar 2023UK£214.5bUK£342.7bUK£40.1b8.2x5.4x0.6x
Tue, 14 Feb 2023UK£249.4bUK£341.2bUK£45.3b6.8x5.5x0.7x
Thu, 12 Jan 2023UK£259.5bUK£341.5bUK£45.4b7.2x5.7x0.8x
Price to Earnings Ratio

5.7x


Total Market Cap: UK£259.5bTotal Earnings: UK£45.4bTotal Revenue: UK£341.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 18.7x202420252026
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 43.1x which is higher than its 3-year average PE of 18.7x.
  • The 3-year average PS ratio of 0.74x 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 49% per year over the last three years,
  • Revenues have also declined 10% 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 Market0.85%
Materials1.67%
Metals and Mining1.77%
Diversified Metals and Mining1.54%
Copper1.44%
Gold0.40%
Aluminum0%0
Silver0%0
Steel-1.22%
Precious Metals and Minerals-3.06%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 24.4x.
    • Analysts are expecting annual earnings growth of 12.3%, which is lower than the prior year's growth of 42.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Gold industry, expecting annual earnings growth of 35% over the next 5 years.
  • However this is lower than its past earnings growth rate of 149% per year.
  • In contrast, the Copper 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
GLEN GlencoreUK£4.093.1%
+UK£1.4b		11.5%PS0.3x
FRES FresnilloUK£33.524.9%
+UK£1.2b		420.5%PE72.9x
AAL Anglo AmericanUK£30.401.8%
+UK£593.5m		11.9%PS1.7x
RIO Rio Tinto GroupUK£59.860.6%
+UK£585.0m		27.0%PE12.7x
ANTO AntofagastaUK£32.561.4%
+UK£443.6m		98.2%PE39.6x

Latest News

ATYM
UK£8.47
Atalaya Mining Copper
7D
3.8%
1Y
132.1%
EEE
UK£0.46
Empire Metals
7D
26.0%
1Y
527.6%
HILS
UK£21.55
Hill & Smith
7D
-0.7%
1Y
16.2%

HILS: Future Profit Margins Are Expected To Support Strong Share Gains

Analysts have modestly raised their price target on Hill & Smith to reflect slightly stronger long term revenue growth and profit margin assumptions, with the updated valuation implying only a minimal change from the prior fair value of £28.00 per share. What's in the News Reaffirmed guidance for full year 2025, with underlying operating profit expected to be in line with current analyst consensus (Key Developments) Valuation Changes Fair Value: Unchanged at £28.00 per share, indicating no material shift in the overall valuation anchor.
ANTO
UK£32.56
Antofagasta
7D
1.4%
1Y
98.2%

Antofagasta plc's (LON:ANTO) Intrinsic Value Is Potentially 95% Above Its Share Price

Dec 24
Antofagasta plc's (LON:ANTO) Intrinsic Value Is Potentially 95% Above Its Share Price
AAL
UK£30.40
Anglo American
7D
1.8%
1Y
11.9%

AAL: Iron Ore Upside And Merger Progress Will Drive Bullish Rerating

Analysts have lifted their price target on Anglo American to about $35 from roughly $28, reflecting improved expectations for revenue growth, higher margins, and a more favorable long term iron ore and valuation outlook following a series of recent target increases from major brokerages. Analyst Commentary Recent research updates highlight a clear shift toward a more constructive stance on Anglo American, with a series of price target increases signaling rising confidence in the company’s earnings trajectory and asset quality.
GLEN
UK£4.09
Glencore
7D
3.1%
1Y
11.5%
FRES
UK£33.52
Fresnillo
7D
4.9%
1Y
420.5%

FRES: Higher Precious Metal Price Hopes Will Likely Overstate Future Earnings Potential

Fresnillo's analyst price target has been lifted sharply, rising from about 950 GBp to a range of 3,000 to 4,300 GBp, as analysts factor in stronger expected revenue growth, higher profit margins and a more constructive long-term precious metals price outlook. Analyst Commentary Recent target price revisions for Fresnillo highlight a wide dispersion in analyst expectations, reflecting divergent views on the sustainability of the company’s earnings recovery and leverage to higher precious metals prices.
SLP
UK£1.03
Sylvania Platinum
7D
-3.3%
1Y
153.1%

Sylvania Platinum Limited (LON:SLP) Looks Just Right With A 27% Price Jump

Dec 23
Sylvania Platinum Limited (LON:SLP) Looks Just Right With A 27% Price Jump
HOC
UK£4.90
Hochschild Mining
7D
-1.5%
1Y
125.1%

Hochschild Mining plc (LON:HOC) Looks Just Right With A 28% Price Jump

Dec 18
Hochschild Mining plc (LON:HOC) Looks Just Right With A 28% Price Jump
AAZ
UK£2.63
Anglo Asian Mining
7D
-1.9%
1Y
158.6%

Investors Appear Satisfied With Anglo Asian Mining PLC's (LON:AAZ) Prospects As Shares Rocket 31%

Dec 18
Investors Appear Satisfied With Anglo Asian Mining PLC's (LON:AAZ) Prospects As Shares Rocket 31%
RIO
UK£59.86
Rio Tinto Group
7D
0.6%
1Y
27.0%

RIO: Stronger Commodity Pricing And Cost Discipline Will Drive Upside Potential

Rio Tinto Group's analyst price target has been revised higher, with fair value estimates rising from approximately 65.08 to 74.18 as analysts factor in stronger expected revenue growth, wider profit margins, and a more favorable, though slightly higher risk-adjusted, earnings multiple implied by the latest round of target hikes across the Street. Analyst Commentary Recent research updates reflect a constructive tone on Rio Tinto, with a series of price target increases signaling growing confidence in the company’s earnings power and balance of risk and reward.
TIN
UK£0.92
Cornish Metals
7D
7.4%
1Y
894.6%
CAPD
UK£1.16
Capital
7D
-3.8%
1Y
39.2%

CAPD: Raised Revenue Guidance And Equity Offering Will Support Stronger Future Performance

Analysts have raised their price target on the stock by approximately $0.52, reflecting increased confidence in faster revenue growth and stronger profit margins, despite a slightly higher discount rate and modestly lower future price to earnings expectations. What's in the News Capital Limited completed a follow on equity offering totaling approximately £30.6 million, issuing over 28.5 million new ordinary shares at £1.07 per share, including a subsequent direct listing feature (Key Developments).
EUA
UK£0.04
Eurasia Mining
7D
-16.0%
1Y
83.7%
GMET
UK£1.44
Guardian Metal Resources
7D
-2.7%
1Y
380.0%
FXPO
UK£0.73
Ferrexpo
7D
-4.3%
1Y
-32.3%