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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies4
  • 7D6.4%
  • 3M16.0%
  • 1Y42.1%
  • YTD13.7%

The Metals and Mining industry is up 1.3% in the last week, with Norsk Hydro up 6.5%. This takes the industry's 12 month performance to a gain of 37%. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

Has the Norwegian Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026NOK 183.4bNOK 209.5bNOK 6.6b18.1x27.9x0.9x
Mon, 23 Feb 2026NOK 172.0bNOK 209.5bNOK 6.6b17.2x26.2x0.8x
Wed, 21 Jan 2026NOK 167.4bNOK 217.4bNOK 11.0b11.8x15.2x0.8x
Fri, 19 Dec 2025NOK 157.4bNOK 217.4bNOK 11.0b10.8x14.3x0.7x
Sun, 16 Nov 2025NOK 148.1bNOK 217.4bNOK 11.0b10.2x13.4x0.7x
Tue, 14 Oct 2025NOK 142.2bNOK 216.9bNOK 9.7b11.2x14.6x0.7x
Thu, 11 Sep 2025NOK 135.5bNOK 216.9bNOK 9.7b11x13.9x0.6x
Sat, 09 Aug 2025NOK 132.6bNOK 217.0bNOK 9.9b10.3x13.4x0.6x
Mon, 07 Jul 2025NOK 121.5bNOK 214.8bNOK 10.0b9.4x12.2x0.6x
Wed, 04 Jun 2025NOK 113.8bNOK 214.8bNOK 9.9b9.1x11.4x0.5x
Fri, 02 May 2025NOK 113.0bNOK 215.2bNOK 9.9b9.3x11.4x0.5x
Sun, 30 Mar 2025NOK 126.9bNOK 205.3bNOK 6.0b13.9x21.2x0.6x
Tue, 25 Feb 2025NOK 137.2bNOK 205.3bNOK 6.0b14.9x22.9x0.7x
Thu, 23 Jan 2025NOK 138.5bNOK 197.2bNOK 1.8b51.8x77.8x0.7x
Sat, 21 Dec 2024NOK 129.4bNOK 197.2bNOK 1.8b48.9x72.7x0.7x
Mon, 18 Nov 2024NOK 146.0bNOK 197.2bNOK 1.8b55.1x82x0.7x
Wed, 16 Oct 2024NOK 140.7bNOK 191.9bNOK 669.6m355.6x210.1x0.7x
Fri, 13 Sep 2024NOK 122.4bNOK 191.9bNOK 669.6m308.7x182.7x0.6x
Sun, 11 Aug 2024NOK 118.7bNOK 191.7bNOK 642.5m299.5x184.8x0.6x
Tue, 09 Jul 2024NOK 138.3bNOK 194.4bNOK 3.7b23x37.3x0.7x
Thu, 06 Jun 2024NOK 141.0bNOK 194.4bNOK 3.7b23.4x38x0.7x
Sat, 04 May 2024NOK 144.7bNOK 194.6bNOK 3.7b24.4x39.5x0.7x
Mon, 01 Apr 2024NOK 124.2bNOK 195.6bNOK 4.0b19.6x31.1x0.6x
Wed, 28 Feb 2024NOK 117.1bNOK 195.6bNOK 4.0b18.4x29.4x0.6x
Fri, 26 Jan 2024NOK 129.1bNOK 192.6bNOK 6.8b12.2x19x0.7x
Sun, 24 Dec 2023NOK 142.5bNOK 192.6bNOK 6.8b13.3x20.9x0.7x
Tue, 21 Nov 2023NOK 136.2bNOK 192.6bNOK 6.8b12.7x20x0.7x
Thu, 19 Oct 2023NOK 126.7bNOK 200.1bNOK 14.0b6.7x9.1x0.6x
Sat, 16 Sep 2023NOK 130.9bNOK 200.1bNOK 14.0b6.8x9.4x0.7x
Mon, 14 Aug 2023NOK 134.7bNOK 200.1bNOK 14.1b6.7x9.6x0.7x
Wed, 12 Jul 2023NOK 131.6bNOK 211.2bNOK 20.2b5.1x6.5x0.6x
Fri, 09 Jun 2023NOK 144.9bNOK 209.3bNOK 24.6b4.7x5.9x0.7x
Sun, 07 May 2023NOK 153.1bNOK 209.4bNOK 24.7b6.2x6.2x0.7x
Tue, 04 Apr 2023NOK 164.0bNOK 209.4bNOK 24.7b6.1x6.6x0.8x
Price to Earnings Ratio

6.6x


Total Market Cap: NOK 164.0bTotal Earnings: NOK 24.7bTotal Revenue: NOK 209.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Metals and Mining Industry Price to Earnings3Y Average 39.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Metals and Mining industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 28.0x which is lower than its 3-year average PE of 39.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.68x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 36% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Norwegian Materials industry?

NO Market-0.64%
Materials1.96%
Metals and Mining6.38%
Aluminum6.50%
Diversified Metals and Mining5.83%
Gold0%0
Steel-0.13%
Industry PE
  • Investors are most optimistic about the Aluminum industry even though it's trading below its 3-year average PE ratio of 80.1x.
    • Analysts are expecting annual earnings growth of 19.5%, which is higher than its past year's earnings growth of 16.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aluminum industry, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Steel industry is expected to see its earnings grow by 15% 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
NHY Norsk HydroNOK 92.627.8%
+NOK 13.2b		50.2%PE27.1x
NOM Nordic MiningNOK 11.660.5%
+NOK 7.5m		-46.0%PS305.5x

Latest News

RANA
NOK 78.40
Rana Gruber
7D
-0.3%
1Y
15.0%

RANA: Stable Assumptions And Capacity Production Will Likely Constrain Future Upside

Analysts have kept their price target for Rana Gruber broadly unchanged at around NOK 68, citing stable assumptions on fair value, discount rate, revenue growth, profit margin and future P/E in their updated work. What's in the News Rana Gruber ASA reported production results for the fourth quarter of 2025, with iron ore concentrate output of 428,000 metric tonnes, compared with 478,000 metric tonnes in Q4 2024 (Key Developments).
NHY
NOK 92.62
Norsk Hydro
7D
7.8%
1Y
50.2%

NHY: Extrusion Restructuring And Dividend Plans Will Support Higher Future Earnings Multiples

Norsk Hydro’s analyst fair value estimate has been raised from NOK 102.0 to NOK 110.0, reflecting updated views on revenue growth, profit margins and forward P/E after a mix of recent target hikes and rating changes across the Street. Analyst Commentary Recent Street research on Norsk Hydro shows a split view, but with a clear cluster of bullish analysts lifting price targets and ratings as they reassess the company’s earnings power and valuation.
NOM
NOK 11.66
Nordic Mining
7D
0.5%
1Y
-46.0%
GEM
NOK 1.45
Green Minerals
7D
-6.8%
1Y
-44.4%
AKOBO
NOK 1.57
Akobo Minerals
7D
-7.1%
1Y
17.2%