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

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies123
  • 7D2.0%
  • 3M22.7%
  • 1Y43.6%
  • YTD41.5%

Last week, the Metals and Mining industry hasn't moved much but Glencore is up 3.2% in that time. As for the the longer term, the industry is up 41% over the past 12 months. As for the next few years, earnings are expected to grow by 29% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025UK£258.1bUK£244.7bUK£5.9b19.3x43.4x1.1x
Fri, 28 Nov 2025UK£222.9bUK£249.1bUK£6.1b16.1x36.6x0.9x
Sun, 26 Oct 2025UK£217.9bUK£247.9bUK£6.1b14.4x35.9x0.9x
Tue, 23 Sep 2025UK£198.5bUK£244.2bUK£5.9b12.1x33.4x0.8x
Thu, 21 Aug 2025UK£178.0bUK£245.1bUK£6.0b10x29.5x0.7x
Sat, 19 Jul 2025UK£175.8bUK£245.0bUK£5.9b8.7x29.6x0.7x
Mon, 16 Jun 2025UK£169.8bUK£242.2bUK£5.9b8.2x28.8x0.7x
Wed, 14 May 2025UK£176.3bUK£246.9bUK£6.1b8.8x29.1x0.7x
Fri, 11 Apr 2025UK£155.8bUK£253.3bUK£6.2b7.7x25.1x0.6x
Sun, 09 Mar 2025UK£182.5bUK£253.9bUK£6.2b9.7x29.5x0.7x
Tue, 04 Feb 2025UK£185.4bUK£263.7bUK£7.9b9.2x23.6x0.7x
Thu, 02 Jan 2025UK£181.5bUK£260.8bUK£7.8b9.1x23.3x0.7x
Sat, 30 Nov 2024UK£191.4bUK£257.2bUK£7.7b9.5x25x0.7x
Mon, 28 Oct 2024UK£198.2bUK£252.8bUK£7.6b10.3x26.2x0.8x
Wed, 25 Sep 2024UK£195.0bUK£244.3bUK£7.3b11.1x26.6x0.8x
Fri, 23 Aug 2024UK£189.6bUK£250.3bUK£7.4b11.6x25.6x0.8x
Sun, 21 Jul 2024UK£198.1bUK£246.6bUK£12.2b14.2x16.2x0.8x
Tue, 18 Jun 2024UK£204.8bUK£250.8bUK£12.4b13.9x16.5x0.8x
Thu, 16 May 2024UK£222.5bUK£251.2bUK£12.4b17.5x18x0.9x
Sat, 13 Apr 2024UK£214.5bUK£256.1bUK£12.8b14.1x16.7x0.8x
Mon, 11 Mar 2024UK£184.7bUK£248.2bUK£12.4b12.4x14.8x0.7x
Wed, 07 Feb 2024UK£194.0bUK£262.1bUK£18.0b11.1x10.8x0.7x
Fri, 05 Jan 2024UK£217.0bUK£304.7bUK£27.6b10x7.9x0.7x
Sun, 03 Dec 2023UK£217.7bUK£304.3bUK£27.6b9.1x7.9x0.7x
Tue, 31 Oct 2023UK£206.4bUK£315.6bUK£28.4b10.1x7.3x0.7x
Thu, 28 Sep 2023UK£205.5bUK£316.5bUK£28.4b7.3x7.2x0.6x
Sat, 26 Aug 2023UK£195.2bUK£307.3bUK£28.0b6.9x7x0.6x
Mon, 24 Jul 2023UK£214.8bUK£326.8bUK£38.3b6.9x5.6x0.7x
Wed, 21 Jun 2023UK£212.7bUK£328.8bUK£38.5b7.6x5.5x0.6x
Fri, 19 May 2023UK£206.3bUK£336.6bUK£39.3b7.9x5.2x0.6x
Sun, 16 Apr 2023UK£230.6bUK£336.8bUK£39.4b8.9x5.9x0.7x
Tue, 14 Mar 2023UK£226.1bUK£342.8bUK£40.5b7.4x5.6x0.7x
Thu, 09 Feb 2023UK£256.9bUK£342.9bUK£45.5b6.7x5.6x0.7x
Sat, 07 Jan 2023UK£256.4bUK£343.0bUK£45.5b7.2x5.6x0.7x
Price to Earnings Ratio

5.6x


Total Market Cap: UK£256.4bTotal 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 18.6x20242025
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 42.5x which is higher than its 3-year average PE of 18.5x.
  • 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 Market0.71%
Materials1.95%
Metals and Mining2.04%
Gold3.31%
Copper2.71%
Diversified Metals and Mining1.50%
Steel1.42%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-2.01%
Industry PE
  • Investors are most optimistic about the Copper industry which is trading above its 3-year average PE ratio of 24.2x.
    • Analysts are expecting annual earnings growth of 12.3%, 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
GLEN GlencoreUK£4.073.2%
+UK£1.5b		15.0%PS0.3x
FRES FresnilloUK£34.125.1%
+UK£1.2b		449.0%PE74.3x
ANTO AntofagastaUK£33.162.5%
+UK£798.5m		108.6%PE40.4x
AAL Anglo AmericanUK£30.562.1%
+UK£679.9m		13.9%PS1.7x
RIO Rio Tinto GroupUK£60.260.5%
+UK£471.2m		27.6%PE12.8x

Latest News

SOLG
UK£0.28
SolGold
7D
8.4%
1Y
299.6%
ANTO
UK£33.16
Antofagasta
7D
2.5%
1Y
108.6%

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£30.56
Anglo American
7D
2.1%
1Y
13.9%

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£4.07
Glencore
7D
3.2%
1Y
15.0%
FRES
UK£34.12
Fresnillo
7D
5.1%
1Y
449.0%

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.
PRE
UK£0.90
Pensana
7D
-1.3%
1Y
281.3%
HOC
UK£5.30
Hochschild Mining
7D
5.7%
1Y
147.7%

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£60.26
Rio Tinto Group
7D
0.5%
1Y
27.6%

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£0.83
Cornish Metals
7D
-0.6%
1Y
859.8%
CAPD
UK£1.14
Capital
7D
-3.8%
1Y
40.1%

CAPD: Raised Revenue Guidance And Equity Offering Will Support Stronger Future Performance

Analysts have raised their price target on the stock by approximately $0.52, reflecting increased confidence in faster revenue growth and stronger profit margins, despite a slightly higher discount rate and modestly lower future price to earnings expectations. What's in the News Capital Limited completed a follow on equity offering totaling approximately £30.6 million, issuing over 28.5 million new ordinary shares at £1.07 per share, including a subsequent direct listing feature (Key Developments).
ALTN
UK£12.25
AltynGold
7D
-3.9%
1Y
541.4%

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
MTL
UK£0.15
Metals Exploration
7D
-1.6%
1Y
180.4%
GFM
UK£2.64
Griffin Mining
7D
11.9%
1Y
80.8%

Griffin Mining Limited's (LON:GFM) P/E Is Still On The Mark Following 32% Share Price Bounce

Dec 06
Griffin Mining Limited's (LON:GFM) P/E Is Still On The Mark Following 32% Share Price Bounce
EUA
UK£0.038
Eurasia Mining
7D
-18.1%
1Y
73.0%
ALL
UK£0.10
Atlantic Lithium
7D
-2.4%
1Y
-41.0%
EML
UK£0.021
Emmerson
7D
-8.7%
1Y
244.3%