Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

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

UpdatedMay 15, 2026
DataAggregated Company Financials
Companies123
  • 7D5.6%
  • 3M12.3%
  • 1Y95.5%
  • YTD33.3%

Over the last 7 days, the Metals and Mining industry has risen 7.0%, driven by gains from Rio Tinto Group of 7.2%. In the last 12 months, the industry was up 96%. 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
Fri, 15 May 2026UK£340.4bUK£256.7bUK£8.6b20.2x39.6x1.3x
Sun, 12 Apr 2026UK£310.0bUK£255.3bUK£8.6b21.2x36.2x1.2x
Tue, 10 Mar 2026UK£284.7bUK£256.0bUK£8.8b20.6x32.3x1.1x
Thu, 05 Feb 2026UK£298.1bUK£241.5bUK£5.9b21x50.8x1.2x
Sat, 03 Jan 2026UK£256.5bUK£244.7bUK£5.9b19.5x43.2x1x
Mon, 01 Dec 2025UK£226.1bUK£249.2bUK£6.1b16.3x37.1x0.9x
Wed, 29 Oct 2025UK£220.3bUK£248.6bUK£6.1b13.8x36.2x0.9x
Fri, 26 Sep 2025UK£206.8bUK£247.5bUK£6.0b13.9x34.3x0.8x
Sun, 24 Aug 2025UK£181.3bUK£243.9bUK£5.9b10.5x30.6x0.7x
Tue, 22 Jul 2025UK£176.1bUK£243.7bUK£5.9b8.8x29.8x0.7x
Thu, 19 Jun 2025UK£168.4bUK£245.1bUK£6.0b7.7x28.2x0.7x
Sat, 17 May 2025UK£172.9bUK£247.5bUK£6.1b8.7x28.4x0.7x
Mon, 14 Apr 2025UK£159.6bUK£251.3bUK£6.2b8.2x25.9x0.6x
Wed, 12 Mar 2025UK£179.5bUK£253.3bUK£6.2b9.4x29x0.7x
Fri, 07 Feb 2025UK£190.7bUK£262.7bUK£7.8b9.7x24.4x0.7x
Sun, 05 Jan 2025UK£182.5bUK£262.8bUK£7.8b9.1x23.3x0.7x
Tue, 03 Dec 2024UK£192.3bUK£258.5bUK£7.7b9.6x25x0.7x
Thu, 31 Oct 2024UK£198.5bUK£252.6bUK£7.6b10.8x26.2x0.8x
Sat, 28 Sep 2024UK£207.2bUK£244.9bUK£7.3b11x28.2x0.8x
Mon, 26 Aug 2024UK£190.5bUK£247.9bUK£7.3b11.8x26x0.8x
Wed, 24 Jul 2024UK£195.1bUK£246.8bUK£12.2b13.7x15.9x0.8x
Fri, 21 Jun 2024UK£210.9bUK£251.6bUK£12.4b13x16.9x0.8x
Sun, 19 May 2024UK£229.2bUK£250.7bUK£12.4b16.2x18.6x0.9x
Tue, 16 Apr 2024UK£214.7bUK£256.0bUK£12.8b14x16.7x0.8x
Thu, 14 Mar 2024UK£189.4bUK£249.3bUK£12.5b12.6x15.2x0.8x
Sat, 10 Feb 2024UK£187.4bUK£261.4bUK£17.9b11.2x10.5x0.7x
Mon, 08 Jan 2024UK£216.4bUK£304.1bUK£27.6b9.9x7.8x0.7x
Wed, 06 Dec 2023UK£210.0bUK£306.8bUK£27.8b9.1x7.6x0.7x
Fri, 03 Nov 2023UK£208.1bUK£314.9bUK£28.3b10.1x7.4x0.7x
Sun, 01 Oct 2023UK£210.7bUK£315.1bUK£28.3b10x7.4x0.7x
Tue, 29 Aug 2023UK£195.4bUK£306.9bUK£28.0b6.9x7x0.6x
Thu, 27 Jul 2023UK£217.8bUK£325.2bUK£38.2b7.3x5.7x0.7x
Sat, 24 Jun 2023UK£204.7bUK£330.3bUK£38.7b7.2x5.3x0.6x
Mon, 22 May 2023UK£206.6bUK£336.0bUK£39.2b8x5.3x0.6x
Price to Earnings Ratio

5.3x


Total Market Cap: UK£206.6bTotal 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 22.8x202420252026
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 40.2x which is higher than its 3-year average PE of 22.8x.
  • 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 8.9% 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 Market0.80%
Materials5.27%
Metals and Mining5.63%
Copper9.36%
Diversified Metals and Mining5.83%
Steel0.97%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-0.60%
Gold-2.49%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 27.2x.
    • Analysts are expecting annual earnings growth of 10.8%, which is lower than the prior year's growth of 114.9% 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
RIO Rio Tinto GroupUK£81.546.1%
+UK£7.6b		73.8%PE17.8x
GLEN GlencoreUK£5.965.6%
+UK£3.7b		120.2%PE257.7x
ANTO AntofagastaUK£42.679.5%
+UK£3.6b		129.9%PE42.4x
AAL Anglo AmericanUK£40.635.8%
+UK£2.4b		67.0%PS3.1x
FRES FresnilloUK£37.071.2%
+UK£324.2m		264.9%PE26.4x

Latest News

ZIOC
UK£0.043
Zanaga Iron Ore
7D
-21.5%
1Y
-47.0%
RIO
UK£81.54
Rio Tinto Group
7D
6.1%
1Y
73.8%
Narrative Update • May 14

RIO: Copper Outlook And Asset Sales Will Shape Fairly Valued Shares

Analysts have raised the average price target for Rio Tinto Group by about £3 to reflect updated assumptions for fair value, discount rates, revenue growth, profit margins and future P/E, based on recent research that includes several price target increases and a few reductions. Analyst Commentary Recent research paints a mixed but generally constructive picture for Rio Tinto Group, with several bullish analysts lifting price targets in both US$ and GBp, while a handful of large banks have turned more cautious on valuation and commodity risk.
GLEN
UK£5.96
Glencore
7D
5.6%
1Y
120.2%
HOC
UK£6.58
Hochschild Mining
7D
-0.9%
1Y
140.5%
FRES
UK£37.07
Fresnillo
7D
1.2%
1Y
264.9%
ATYM
UK£8.77
Atalaya Mining Copper
7D
7.7%
1Y
111.6%
AAZ
UK£3.05
Anglo Asian Mining
7D
12.1%
1Y
144.0%
ALTN
UK£11.85
AltynGold
7D
-6.7%
1Y
254.8%
SLP
UK£1.07
Sylvania Platinum
7D
-3.3%
1Y
122.9%
PAF
UK£1.49
Pan African Resources
7D
-4.5%
1Y
221.6%
Narrative Update • May 03

PAF: Future Earnings Delivery And Dividend Plans Will Drive Re Rating Potential

Analysts have nudged their fair value estimate for Pan African Resources higher from £1.71 to £1.81 per share, reflecting updated assumptions on revenue growth, profit margins and future P/E multiples, even as Street price targets, such as Berenberg's, have recently been trimmed to £1.81. Analyst Commentary Recent research updates have focused on recalibrating price targets to £1.81 per share, aligning fair value work with current assumptions on earnings power and P/E multiples while keeping a constructive stance on the shares.
KEFI
UK£0.013
KEFI Gold and Copper
7D
-5.2%
1Y
103.2%
AAL
UK£40.63
Anglo American
7D
5.8%
1Y
67.0%
Narrative Update • May 02

AAL: Geopolitical And Commodity Risks Will Limit Post Teck Merger Upside

Analysts have raised the fair value estimate for Anglo American from £21.07 to £21.89 per share. This reflects a combination of recent price target changes, rating revisions, and updated views on revenue, margins and future P/E assumptions across the Street.
ANTO
UK£42.67
Antofagasta
7D
9.5%
1Y
129.9%
Narrative Update • Apr 29

ANTO: Mixed Broker Views Will Shape Outlook As Copper Conditions Steer Expectations

Antofagasta's analyst fair value has shifted from £26.26 to £35.00, as analysts factor in revised assumptions on revenue growth, profit margins and discount rates, alongside a mix of recent target changes, including multiple raises from Citi, Morgan Stanley, JPMorgan and others, set against several downgrades and target cuts. Analyst Commentary Recent research on Antofagasta presents a mixed picture, with both bullish and bearish analysts adjusting ratings and price targets in quick succession.
MTL
UK£0.13
Metals Exploration
7D
-7.1%
1Y
71.1%
SAV
UK£0.068
Savannah Resources
7D
-5.8%
1Y
55.9%
TUN
UK£0.41
Tungsten West
7D
22.1%
1Y
843.2%