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

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies123
  • 7D5.2%
  • 3M26.9%
  • 1Y38.3%
  • YTD35.5%

Over the last 7 days, the Metals and Mining industry has risen 2.4%, driven by gains from Rio Tinto Group of 4.5%. This takes the industry's 12 month performance to a gain of 36%. 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
Sat, 20 Dec 2025UK£245.9bUK£246.5bUK£6.0b17.1x41x1x
Mon, 17 Nov 2025UK£223.7bUK£250.6bUK£6.1b14.6x36.5x0.9x
Wed, 15 Oct 2025UK£220.1bUK£247.7bUK£6.1b15.5x36.3x0.9x
Fri, 12 Sep 2025UK£191.0bUK£243.0bUK£5.9b11.7x32.4x0.8x
Sun, 10 Aug 2025UK£178.7bUK£244.5bUK£5.8b9.7x30.6x0.7x
Tue, 08 Jul 2025UK£171.1bUK£241.5bUK£5.8b8.1x29.3x0.7x
Thu, 05 Jun 2025UK£173.3bUK£242.7bUK£5.9b9.6x29.3x0.7x
Sat, 03 May 2025UK£168.0bUK£247.5bUK£6.1b8.4x27.7x0.7x
Mon, 31 Mar 2025UK£178.1bUK£253.7bUK£6.2b8.6x28.7x0.7x
Wed, 26 Feb 2025UK£180.9bUK£258.9bUK£6.3b8.9x28.5x0.7x
Fri, 24 Jan 2025UK£191.7bUK£264.5bUK£7.9b9.4x24.3x0.7x
Sun, 22 Dec 2024UK£180.5bUK£259.7bUK£7.7b9.4x23.3x0.7x
Tue, 19 Nov 2024UK£189.6bUK£259.8bUK£7.8b10.2x24.4x0.7x
Thu, 17 Oct 2024UK£196.4bUK£252.3bUK£7.6b10.6x26x0.8x
Sat, 14 Sep 2024UK£183.4bUK£249.6bUK£7.5b10.6x24.4x0.7x
Mon, 12 Aug 2024UK£191.7bUK£256.6bUK£7.7b11.1x25x0.7x
Wed, 10 Jul 2024UK£211.5bUK£248.9bUK£12.3b13x17.1x0.8x
Fri, 07 Jun 2024UK£215.4bUK£249.1bUK£12.3b14.8x17.6x0.9x
Sun, 05 May 2024UK£217.1bUK£254.0bUK£12.5b14.4x17.3x0.9x
Tue, 02 Apr 2024UK£195.4bUK£252.8bUK£12.6b12.5x15.4x0.8x
Thu, 29 Feb 2024UK£181.9bUK£251.7bUK£12.6b11x14.4x0.7x
Sat, 27 Jan 2024UK£209.5bUK£304.5bUK£27.6b9.6x7.6x0.7x
Mon, 25 Dec 2023UK£221.3bUK£304.4bUK£27.6b10.4x8x0.7x
Wed, 22 Nov 2023UK£214.9bUK£307.8bUK£27.8b10.2x7.7x0.7x
Fri, 20 Oct 2023UK£203.7bUK£316.3bUK£28.4b9.9x7.2x0.6x
Sun, 17 Sep 2023UK£213.1bUK£310.9bUK£28.1b7x7.6x0.7x
Tue, 15 Aug 2023UK£196.4bUK£304.5bUK£27.8b7.1x7.1x0.6x
Thu, 13 Jul 2023UK£211.0bUK£323.8bUK£38.0b7.2x5.6x0.7x
Sat, 10 Jun 2023UK£211.3bUK£333.0bUK£38.9b7.6x5.4x0.6x
Mon, 08 May 2023UK£211.3bUK£331.7bUK£38.8b8.4x5.4x0.6x
Wed, 05 Apr 2023UK£222.0bUK£334.9bUK£39.2b8.8x5.7x0.7x
Fri, 03 Mar 2023UK£245.6bUK£349.0bUK£41.1b8.3x6x0.7x
Sun, 29 Jan 2023UK£263.9bUK£335.1bUK£44.6b7.1x5.9x0.8x
Tue, 27 Dec 2022UK£250.5bUK£343.0bUK£45.5b6.8x5.5x0.7x
Price to Earnings Ratio

5.5x


Total Market Cap: UK£250.5bTotal Earnings: UK£45.5bTotal Revenue: UK£343.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 18.2x202320242025
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 40.7x which is higher than its 3-year average PE of 18.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.73x.
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 Market2.51%
Materials5.00%
Metals and Mining5.20%
Copper6.77%
Precious Metals and Minerals5.45%
Diversified Metals and Mining4.61%
Gold2.01%
Steel0.65%
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£58.384.5%
+UK£4.0b		25.1%PE12.4x
ANTO AntofagastaUK£31.417.1%
+UK£2.1b		94.7%PE38x
FRES FresnilloUK£31.709.2%
+UK£2.0b		396.5%PE68.5x
GLEN GlencoreUK£3.903.7%
+UK£1.6b		10.4%PS0.3x
AAL Anglo AmericanUK£29.223.7%
+UK£1.1b		10.3%PS1.6x

Latest News

PRE
UK£0.95
Pensana
7D
-5.2%
1Y
298.3%
HOC
UK£4.78
Hochschild Mining
7D
4.7%
1Y
124.4%

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
ATYM
UK£8.04
Atalaya Mining Copper
7D
5.5%
1Y
141.1%
RIO
UK£58.38
Rio Tinto Group
7D
4.5%
1Y
25.1%

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£0.82
Cornish Metals
7D
951.3%
1Y
848.0%
AAL
UK£29.22
Anglo American
7D
3.7%
1Y
10.3%
ANTO
UK£31.41
Antofagasta
7D
7.1%
1Y
94.7%

ANTO: Copper Cycle Upswing Will Support Medium Term Earnings Power

The analyst price target for Antofagasta has been lifted from about $25.09 to roughly $35.03 as analysts factor in higher forecast revenue growth, improved profit margins, and a richer future earnings multiple, supported by a series of upward target revisions from major brokers, despite some valuation driven downgrades. Analyst Commentary Recent Street research on Antofagasta reflects a broadly constructive stance, with several bullish analysts lifting price targets meaningfully as they reassess the company’s earnings power and leverage to the copper cycle.
GLEN
UK£3.90
Glencore
7D
3.7%
1Y
10.4%

GLEN: Higher Share Price Is Expected To Follow Clear Operational Delivery

Our Glencore analyst price target has been raised modestly, reflecting incremental fair value and profit margin upside as analysts highlight a series of upward target revisions, including moves to 400 GBp and 440 GBp, despite only slightly higher discount rate assumptions and tempered revenue growth expectations. Analyst Commentary Recent research updates on Glencore point to a broadly constructive stance on the shares, with multiple upward revisions to sterling based price targets partially offset by a more cautious view on near term execution risk.
AAU
UK£0.014
Ariana Resources
7D
-8.3%
1Y
-29.5%
KMR
UK£2.30
Kenmare Resources
7D
-7.4%
1Y
-29.8%

KMR: Long-Term Ore Zone Shift Will Support Future Cash Generation

The analyst price target for Kenmare Resources has been lowered from approximately £3.30 to £3.00 per share as analysts factor in softer revenue growth assumptions and a slightly higher discount rate, partly offset by a modestly improved profit margin outlook and a stable forward earnings multiple. Analyst Commentary Recent research updates show a pattern of gradual downward adjustments to the Kenmare Resources price target, with the latest move bringing it to 300 GBp from 330 GBp while retaining a neutral stance on the shares.
FRES
UK£31.70
Fresnillo
7D
9.2%
1Y
396.5%

FRES: Elevated Gold Price Assumptions Will Likely Expose Downside If Metals Normalize

Our analyst price target for Fresnillo has been raised in line with the Street, which has lifted targets as high as 4,300 GBp per share. This reflects analysts' increasingly optimistic assumptions for revenue growth, margins, and long term precious metal pricing.
PAT
UK£0.22
Panthera Resources
7D
-5.5%
1Y
186.5%
ATM
UK£0.035
Andrada Mining
7D
-9.2%
1Y
55.1%

Andrada Mining (LON:ATM) Is Making Moderate Use Of Debt

Dec 04
Andrada Mining (LON:ATM) Is Making Moderate Use Of Debt
SOLG
UK£0.25
SolGold
7D
-2.1%
1Y
271.7%
ACG
UK£10.60
ACG Metals
7D
-2.8%
1Y
161.3%
KP2
UK£0.028
Kore Potash
7D
-3.8%
1Y
19.6%