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

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies124
  • 7D-10.0%
  • 3M4.8%
  • 1Y81.7%
  • YTD21.4%

Over the last 7 days, the Metals and Mining industry has dropped 10.0%, driven by a pullback from Rio Tinto Group of 10%. In the past year, the industry has gained 82%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 20 Jul 2023UK£210.5bUK£325.9bUK£38.2b7.2x5.5x0.6x
Sat, 17 Jun 2023UK£219.8bUK£327.5bUK£38.4b7.8x5.7x0.7x
Price to Earnings Ratio

5.7x


Total Market Cap: UK£219.8bTotal Earnings: UK£38.4bTotal Revenue: UK£327.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 23.6x202420252026
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 35.8x which is higher than its 3-year average PE of 23.6x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 39% per year over the last three years,
  • Revenues have also declined 7.7% 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 Market-1.85%
Materials-9.67%
Metals and Mining-10.00%
Steel0.30%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-4.40%
Diversified Metals and Mining-9.40%
Gold-9.61%
Copper-12.78%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 27.9x.
    • Analysts are expecting annual earnings growth of 11.1%, 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 39% 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
HILS Hill & SmithUK£27.551.3%
+UK£27.4m		57.8%PE26.2x
CGS CastingsUK£3.1919.0%
+UK£22.2m		16.6%PE28.7x
TIN Cornish MetalsUK£1.097.4%
+UK£9.4m		40.0%PB1.4x
BZT Bezant ResourcesUK£0.001227.7%
+UK£5.7m		287.1%PE7.2x
EGT European Green TransitionUK£0.1021.7%
+UK£5.1m		44.8%PB6.8x

Latest News

FCM
UK£0.039
First Class Metals
7D
21.9%
1Y
69.6%
RIO
UK£74.69
Rio Tinto Group
7D
-10.1%
1Y
70.7%
EGT
UK£0.10
European Green Transition
7D
21.7%
1Y
44.8%
HILS
UK£27.55
Hill & Smith
7D
1.3%
1Y
57.8%
Narrative Update • Jun 06

HILS: Capital Deployment And Dividends Will Support Re Rating Toward U.S. Peer Levels

Analysts have lifted the Hill & Smith fair value estimate from £34.00 to £34.56 after raising price targets, citing higher fiscal 2026 organic revenue expectations and an ongoing valuation discount to U.S. peers. Analyst Commentary Recent research points to a constructive stance on Hill & Smith, with several bullish analysts lifting price targets while highlighting both execution and valuation support.
ATYM
UK£7.58
Atalaya Mining Copper
7D
-13.6%
1Y
74.1%
Narrative Update • Jun 06

ATYM: Rising Dividend Will Support Future Upside Despite Near Term Production Headwinds

Analysts have trimmed their price target on Atalaya Mining Copper slightly, with fair value moving from £10.73 to £10.66. This reflects updated views on discount rates, revenue growth, profit margins and future P/E assumptions.
FRES
UK£28.68
Fresnillo
7D
-12.8%
1Y
114.0%
ANTO
UK£38.46
Antofagasta
7D
-12.7%
1Y
104.1%
Narrative Update • Jun 05

ANTO: Copper And Geopolitical Risks Will Restrain Future Share Performance

Narrative Update The analyst price target for Antofagasta is now set slightly higher at about £35.96 per share, up from £35.00, as analysts factor in updated assumptions on revenue, profit margins and future P/E, alongside a series of recent price target revisions across the Street. Analyst Commentary Recent research on Antofagasta shows a wide range of views, with some firms lifting targets and ratings while others trim targets or move to more cautious stances.
GLEN
UK£5.69
Glencore
7D
-7.4%
1Y
96.3%
CGS
UK£3.19
Castings
7D
19.0%
1Y
16.6%
HOC
UK£5.13
Hochschild Mining
7D
-13.5%
1Y
120.7%
Narrative Update • Jun 04

HOC: Structurally Bullish Gold View Will Drive Repricing Potential

Hochschild Mining's analyst price target has been revised to £8.13 from £8.04, as analysts factor in recent target changes from major brokers and their continued positive stance on gold equities. Analyst Commentary Bullish Takeaways JPMorgan's upgrade of Hochschild Mining to Overweight signals that some bullish analysts see the risk reward as attractive at current share levels, particularly for investors positive on gold equities.
PAF
UK£1.05
Pan African Resources
7D
-7.9%
1Y
120.8%
Narrative Update • Jun 04

PAF: Future Cash Flow Delivery Will Support Premium Re Rating Potential

Analysts have trimmed their fair value estimate for Pan African Resources to £1.82 from £1.84, citing slightly higher discount rates, more conservative revenue growth and profit margin assumptions, and a modestly higher future P/E multiple, in line with recent Street price target reductions from £1.90 to £1.81. Analyst Commentary Bullish Takeaways Bullish analysts still see upside relative to current trading levels, as indicated by price targets that remain above the revised fair value estimate of £1.82.
EUA
UK£0.026
Eurasia Mining
7D
4.0%
1Y
-33.8%
AAL
UK£37.68
Anglo American
7D
-10.8%
1Y
71.6%
Narrative Update • Jun 02

AAL: Copper And Iron Ore Downside Risks Will Drive Cautious Outlook

Anglo American's analyst fair value estimate has edged up from £36.53 to £36.80 as analysts refine their assumptions around discount rates, profit margins and future P/E expectations. Street price targets have been adjusted in a tight range between about £28.00 and £40.00.
ACG
UK£16.60
ACG Metals
7D
0.6%
1Y
227.1%
New Narrative • May 20

Copper Shift And Enriched Ore Plan Will Reshape Long Term Prospects

Catalysts About ACG Metals ACG Metals is a precious and base metals producer focused on the Gediktepe mine in Turkiye, producing gold, silver, copper and zinc. What are the underlying business or industry changes driving this perspective?
BZT
UK£0.0012
Bezant Resources
7D
27.7%
1Y
287.1%
TIN
UK£1.09
Cornish Metals
7D
7.4%
1Y
40.0%