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

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies123
  • 7D4.9%
  • 3M22.2%
  • 1Y40.2%
  • YTD38.5%

Over the last 7 days, the Metals and Mining industry has risen 6.6%, driven by gains from Rio Tinto Group of 4.0%. During this same period, the KEFI Gold and Copper underperformed, falling 9.9%. This means that the industry has gained 40% over the past year. Looking forward, earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025UK£251.7bUK£244.0bUK£5.9b18.5x42.4x1x
Sat, 22 Nov 2025UK£213.6bUK£251.9bUK£6.2b14.9x34.7x0.8x
Mon, 20 Oct 2025UK£215.2bUK£245.6bUK£6.0b15.3x35.8x0.9x
Wed, 17 Sep 2025UK£195.2bUK£241.7bUK£5.9b11.7x33.3x0.8x
Fri, 15 Aug 2025UK£178.1bUK£243.6bUK£6.0b10x29.6x0.7x
Sun, 13 Jul 2025UK£177.2bUK£243.5bUK£5.9b8.5x30.1x0.7x
Tue, 10 Jun 2025UK£174.9bUK£242.4bUK£5.9b9.7x29.6x0.7x
Thu, 08 May 2025UK£168.3bUK£247.1bUK£6.1b8.5x27.8x0.7x
Sat, 05 Apr 2025UK£152.8bUK£255.2bUK£6.2b7.7x24.5x0.6x
Mon, 03 Mar 2025UK£179.5bUK£260.3bUK£6.4b8.9x28.1x0.7x
Wed, 29 Jan 2025UK£186.7bUK£262.7bUK£7.8b9.2x23.8x0.7x
Fri, 27 Dec 2024UK£181.9bUK£260.8bUK£7.8b9.4x23.4x0.7x
Sun, 24 Nov 2024UK£191.3bUK£261.4bUK£7.8b10.3x24.4x0.7x
Tue, 22 Oct 2024UK£197.4bUK£252.3bUK£7.6b10.5x26.1x0.8x
Thu, 19 Sep 2024UK£183.9bUK£248.4bUK£7.5b10.9x24.6x0.7x
Sat, 17 Aug 2024UK£188.2bUK£252.9bUK£7.5b11.5x25x0.7x
Mon, 15 Jul 2024UK£213.1bUK£245.2bUK£12.2b13.4x17.5x0.9x
Wed, 12 Jun 2024UK£209.0bUK£250.0bUK£12.4b14.1x16.9x0.8x
Fri, 10 May 2024UK£221.2bUK£254.5bUK£12.6b15.7x17.6x0.9x
Sun, 07 Apr 2024UK£201.5bUK£252.4bUK£12.6b14.1x16x0.8x
Tue, 05 Mar 2024UK£184.3bUK£251.2bUK£12.6b11.2x14.6x0.7x
Thu, 01 Feb 2024UK£209.1bUK£305.1bUK£27.6b10.1x7.6x0.7x
Sat, 30 Dec 2023UK£223.0bUK£303.6bUK£27.5b9.8x8.1x0.7x
Mon, 27 Nov 2023UK£212.8bUK£306.4bUK£27.7b10.6x7.7x0.7x
Wed, 25 Oct 2023UK£196.4bUK£315.8bUK£28.4b9.9x6.9x0.6x
Fri, 22 Sep 2023UK£208.4bUK£313.0bUK£28.2b7.3x7.4x0.7x
Sun, 20 Aug 2023UK£190.3bUK£303.6bUK£27.7b7.1x6.9x0.6x
Tue, 18 Jul 2023UK£210.3bUK£322.0bUK£37.8b7.7x5.6x0.7x
Thu, 15 Jun 2023UK£221.0bUK£330.3bUK£38.7b7.9x5.7x0.7x
Sat, 13 May 2023UK£205.8bUK£335.7bUK£39.2b7.9x5.2x0.6x
Mon, 10 Apr 2023UK£220.4bUK£336.7bUK£39.4b8.7x5.6x0.7x
Wed, 08 Mar 2023UK£237.2bUK£351.2bUK£41.3b7.4x5.7x0.7x
Fri, 03 Feb 2023UK£258.7bUK£338.2bUK£45.0b6.8x5.8x0.8x
Sun, 01 Jan 2023UK£250.6bUK£342.4bUK£45.5b6.7x5.5x0.7x
Price to Earnings Ratio

5.5x


Total Market Cap: UK£250.6bTotal Earnings: UK£45.5bTotal Revenue: UK£342.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 18.4x202320242025
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 42.4x which is higher than its 3-year average PE of 18.4x.
  • 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 11% 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 Market1.06%
Materials4.65%
Metals and Mining4.94%
Gold7.29%
Diversified Metals and Mining4.60%
Copper4.40%
Precious Metals and Minerals3.10%
Steel1.38%
Aluminum0%0
Silver0%0
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 24.1x.
    • Analysts are expecting annual earnings growth of 12.4%, 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
RIO Rio Tinto GroupUK£59.824.0%
+UK£3.7b		27.3%PE12.8x
FRES FresnilloUK£32.008.4%
+UK£1.8b		402.7%PE69.9x
GLEN GlencoreUK£3.944.1%
+UK£1.8b		11.0%PS0.3x
ANTO AntofagastaUK£32.244.4%
+UK£1.3b		99.3%PE39.4x
AAL Anglo AmericanUK£30.124.2%
+UK£1.3b		11.4%PS1.6x

Latest News

KEFI
UK£0.013
KEFI Gold and Copper
7D
-9.9%
1Y
166.7%
PAF
UK£1.22
Pan African Resources
7D
9.1%
1Y
259.5%

Pan African Resources (LON:PAF) Looks To Prolong Its Impressive Returns

Dec 24
Pan African Resources (LON:PAF) Looks To Prolong Its Impressive Returns
ANTO
UK£32.24
Antofagasta
7D
4.4%
1Y
99.3%

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£30.12
Anglo American
7D
4.2%
1Y
11.4%

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£3.94
Glencore
7D
4.1%
1Y
11.0%
FRES
UK£32.00
Fresnillo
7D
8.4%
1Y
402.7%

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.
HOC
UK£5.06
Hochschild Mining
7D
7.3%
1Y
138.4%

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
RIO
UK£59.82
Rio Tinto Group
7D
4.0%
1Y
27.3%

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£0.85
Cornish Metals
7D
985.4%
1Y
885.0%
KOD
UK£0.0031
Kodal Minerals
7D
-4.7%
1Y
-15.3%
ACG
UK£10.60
ACG Metals
7D
-1.9%
1Y
160.6%
RBW
UK£0.17
Rainbow Rare Earths
7D
-2.9%
1Y
38.8%
COBR
UK£0.046
Cobra Resources
7D
-7.0%
1Y
295.7%
CGS
UK£2.75
Castings
7D
-1.8%
1Y
5.4%
SAV
UK£0.037
Savannah Resources
7D
-3.9%
1Y
-14.9%
EMH
UK£0.15
European Metals Holdings
7D
-23.8%
1Y
110.3%