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

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies122
  • 7D1.9%
  • 3M21.9%
  • 1Y27.9%
  • YTD30.1%

In the last week, the Metals and Mining industry is flat overall, with Anglo American standing out by going down 3.9%. As for the the longer term, the industry is up 26% over the past 12 months. Earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025UK£237.6bUK£246.6bUK£6.0b17.8x39.5x1x
Thu, 13 Nov 2025UK£225.3bUK£251.3bUK£6.2b15x36.6x0.9x
Sat, 11 Oct 2025UK£214.1bUK£247.2bUK£6.0b15.8x35.4x0.9x
Mon, 08 Sep 2025UK£189.1bUK£244.3bUK£5.9b11.6x32.3x0.8x
Wed, 06 Aug 2025UK£171.5bUK£247.1bUK£6.4b9.4x26.8x0.7x
Fri, 04 Jul 2025UK£173.5bUK£240.8bUK£5.8b8.2x29.7x0.7x
Sun, 01 Jun 2025UK£172.6bUK£244.0bUK£6.0b9.7x29x0.7x
Tue, 29 Apr 2025UK£169.0bUK£244.5bUK£6.0b8.6x28.2x0.7x
Thu, 27 Mar 2025UK£184.3bUK£254.8bUK£6.3b8.8x29.4x0.7x
Sat, 22 Feb 2025UK£188.6bUK£259.0bUK£6.4b9.1x29.7x0.7x
Mon, 20 Jan 2025UK£194.1bUK£268.3bUK£8.0b9.3x24.3x0.7x
Wed, 18 Dec 2024UK£185.7bUK£256.8bUK£7.7b9.4x24.3x0.7x
Fri, 15 Nov 2024UK£184.5bUK£258.7bUK£7.8b9.9x23.8x0.7x
Sun, 13 Oct 2024UK£200.4bUK£250.8bUK£7.5b10.9x26.7x0.8x
Tue, 10 Sep 2024UK£176.4bUK£250.6bUK£7.5b10.2x23.4x0.7x
Thu, 08 Aug 2024UK£191.4bUK£250.4bUK£11.5b11.3x16.6x0.8x
Sat, 06 Jul 2024UK£214.4bUK£248.4bUK£12.3b13x17.4x0.9x
Mon, 03 Jun 2024UK£219.0bUK£250.0bUK£12.3b15.8x17.8x0.9x
Wed, 01 May 2024UK£218.1bUK£255.1bUK£12.6b14.7x17.3x0.9x
Fri, 29 Mar 2024UK£195.4bUK£252.6bUK£12.6b12.3x15.5x0.8x
Sun, 25 Feb 2024UK£185.9bUK£251.5bUK£12.6b11x14.7x0.7x
Tue, 23 Jan 2024UK£199.0bUK£304.3bUK£27.6b9.3x7.2x0.7x
Thu, 21 Dec 2023UK£220.7bUK£305.4bUK£27.7b10.2x8x0.7x
Sat, 18 Nov 2023UK£214.5bUK£310.2bUK£28.0b10.2x7.7x0.7x
Mon, 16 Oct 2023UK£206.1bUK£316.4bUK£28.4b9.8x7.3x0.7x
Wed, 13 Sep 2023UK£202.4bUK£309.2bUK£28.0b6.8x7.2x0.7x
Fri, 11 Aug 2023UK£204.0bUK£303.8bUK£27.7b7.3x7.4x0.7x
Sun, 09 Jul 2023UK£202.7bUK£327.3bUK£38.4b7.2x5.3x0.6x
Tue, 06 Jun 2023UK£208.4bUK£336.2bUK£39.3b8.1x5.3x0.6x
Thu, 04 May 2023UK£212.0bUK£333.7bUK£39.1b8.3x5.4x0.6x
Sat, 01 Apr 2023UK£226.1bUK£338.7bUK£39.6b8.9x5.7x0.7x
Mon, 27 Feb 2023UK£233.9bUK£349.0bUK£41.1b8.5x5.7x0.7x
Wed, 25 Jan 2023UK£267.2bUK£336.7bUK£44.8b7.1x6x0.8x
Fri, 23 Dec 2022UK£248.5bUK£343.8bUK£45.6b7.1x5.4x0.7x
Price to Earnings Ratio

5.4x


Total Market Cap: UK£248.5bTotal Earnings: UK£45.6bTotal Revenue: UK£343.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Metals and Mining Industry Price to Earnings3Y Average 18.1x202320242025
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 39.2x which is higher than its 3-year average PE of 18.0x.
  • 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 Market1.08%
Materials1.82%
Metals and Mining1.85%
Gold6.25%
Precious Metals and Minerals3.51%
Copper2.11%
Steel1.33%
Diversified Metals and Mining1.19%
Aluminum0%0
Silver0%0
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 17.8x.
    • Analysts are expecting annual earnings growth of 29.8%, which is higher than its past year's earnings decline of 12.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Precious Metals and Minerals industry, expecting annual earnings growth of 56% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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£56.322.8%
+UK£2.5b		16.3%PE11.9x
FRES FresnilloUK£28.566.1%
+UK£1.2b		335.0%PE61.7x
ANTO AntofagastaUK£30.402.8%
+UK£808.4m		81.7%PE36.7x
GLEN GlencoreUK£3.810.5%
+UK£222.8m		3.5%PS0.3x
HOC Hochschild MiningUK£4.648.5%
+UK£186.2m		115.8%PE21.5x

Latest News

HOC
UK£4.64
Hochschild Mining
7D
8.5%
1Y
115.8%

HOC: Higher Long-Term Gold Prices Will Drive Upside Amid Execution Risks

Analysts have lifted their price target on Hochschild Mining sharply higher, reflecting upgraded fair value estimates to about $4.70, a modestly higher discount rate, and materially stronger assumptions for revenue growth, profit margins, and long term valuation multiples, amid a more bullish outlook for gold prices. Analyst Commentary Recent research updates highlight a materially more constructive stance on Hochschild Mining, with price targets moving sharply higher and long term gold assumptions reset at significantly elevated levels.
ALTN
UK£11.90
AltynGold
7D
17.2%
1Y
508.7%

Even With A 26% Surge, Cautious Investors Are Not Rewarding AltynGold plc's (LON:ALTN) Performance Completely

Dec 13
Even With A 26% Surge, Cautious Investors Are Not Rewarding AltynGold plc's (LON:ALTN) Performance Completely
GLEN
UK£3.81
Glencore
7D
0.5%
1Y
3.5%
HILS
UK£21.85
Hill & Smith
7D
-2.2%
1Y
12.4%

HILS: Higher Margins Are Expected To Drive Stronger Future Share Performance

Analysts have modestly raised their price target on Hill & Smith to £28.00 from £28.00. This reflects slightly higher expected profit margins and valuation multiples that more than offset a somewhat higher discount rate and trimmed revenue growth assumptions.
JLP
UK£0.029
Jubilee Metals Group
7D
-9.4%
1Y
-27.3%

JLP: Copper Expansion From Molefe And Roan Will Drive Future Upside

Analysts have maintained their fair value estimate for Jubilee Metals Group at £0.06 per share. Slightly higher discount rate assumptions and modestly reduced revenue growth expectations were broadly offset by a marginally improved profit margin outlook and a slightly higher future P/E multiple.
PAF
UK£1.09
Pan African Resources
7D
3.8%
1Y
202.1%
AAL
UK£28.52
Anglo American
7D
-2.7%
1Y
3.1%

AAL: Iron Ore Outlook And Merger Decisions Will Shape Future Risk Reward Balance

The analyst price target for Anglo American has been raised to approximately $29.54 from about $29.18. This reflects analysts' more constructive view on long term iron ore demand and supply dynamics, despite slightly higher discount rates and some pressure on forecast margins.
FRES
UK£28.56
Fresnillo
7D
6.1%
1Y
335.0%

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.
RIO
UK£56.32
Rio Tinto Group
7D
2.8%
1Y
16.3%
ANTO
UK£30.40
Antofagasta
7D
2.8%
1Y
81.7%

Antofagasta (LON:ANTO) Is Experiencing Growth In Returns On Capital

Dec 04
Antofagasta (LON:ANTO) Is Experiencing Growth In Returns On Capital
SOLG
UK£0.26
SolGold
7D
-20.6%
1Y
244.6%
ALL
UK£0.076
Atlantic Lithium
7D
-24.0%
1Y
-44.3%
GMET
UK£1.03
Guardian Metal Resources
7D
-6.4%
1Y
255.2%
FXPO
UK£0.76
Ferrexpo
7D
18.0%
1Y
-28.2%
EEE
UK£0.36
Empire Metals
7D
-3.2%
1Y
462.5%
PRE
UK£0.96
Pensana
7D
-2.6%
1Y
261.6%

Here's Why Pensana (LON:PRE) Can Afford Some Debt

Oct 17
Here's Why Pensana (LON:PRE) Can Afford Some Debt