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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedDec 28, 2025
DataAggregated Company Financials
Companies4
  • 7D0.4%
  • 3M18.3%
  • 1Y22.6%
  • YTD20.2%

The Metals and Mining industry has been flat over the last week, but Green Minerals has lost 3.8%. The past year has been better, since the industry has gained 23% in that time. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Dec 2025NOK 158.9bNOK 217.4bNOK 11.0b11.3x14.4x0.7x
Wed, 26 Nov 2025NOK 145.8bNOK 217.4bNOK 11.0b10.1x13.2x0.7x
Fri, 24 Oct 2025NOK 144.2bNOK 216.9bNOK 9.7b11.3x14.8x0.7x
Sun, 21 Sep 2025NOK 135.3bNOK 216.9bNOK 9.7b11x13.9x0.6x
Tue, 19 Aug 2025NOK 132.4bNOK 217.0bNOK 9.9b10.2x13.4x0.6x
Thu, 17 Jul 2025NOK 124.1bNOK 214.8bNOK 10.0b9.5x12.4x0.6x
Sat, 14 Jun 2025NOK 114.5bNOK 214.8bNOK 9.9b9.3x11.5x0.5x
Mon, 12 May 2025NOK 117.7bNOK 214.8bNOK 9.9b9.4x11.9x0.5x
Wed, 09 Apr 2025NOK 111.6bNOK 205.3bNOK 6.0b12.6x18.6x0.5x
Fri, 07 Mar 2025NOK 146.3bNOK 205.3bNOK 6.0b15.7x24.4x0.7x
Sun, 02 Feb 2025NOK 137.7bNOK 197.2bNOK 1.8b52.1x77.4x0.7x
Tue, 31 Dec 2024NOK 130.1bNOK 197.2bNOK 1.8b49.2x73.1x0.7x
Thu, 28 Nov 2024NOK 141.7bNOK 197.2bNOK 1.8b53.5x79.6x0.7x
Sat, 26 Oct 2024NOK 142.3bNOK 197.3bNOK 1.8b53.5x78.2x0.7x
Mon, 23 Sep 2024NOK 128.8bNOK 191.9bNOK 669.6m325.3x192.4x0.7x
Wed, 21 Aug 2024NOK 124.2bNOK 191.7bNOK 643.0m314x193.2x0.6x
Fri, 19 Jul 2024NOK 136.3bNOK 194.4bNOK 3.7b22.6x36.7x0.7x
Sun, 16 Jun 2024NOK 135.3bNOK 194.4bNOK 3.7b22.4x36.5x0.7x
Tue, 14 May 2024NOK 141.6bNOK 194.6bNOK 3.7b24x38.5x0.7x
Thu, 11 Apr 2024NOK 142.7bNOK 195.6bNOK 4.0b22.2x35.8x0.7x
Sat, 09 Mar 2024NOK 116.6bNOK 195.6bNOK 4.0b18.3x29.2x0.6x
Mon, 05 Feb 2024NOK 127.4bNOK 192.6bNOK 6.8b12.1x18.7x0.7x
Wed, 03 Jan 2024NOK 142.5bNOK 192.6bNOK 6.8b13.4x20.9x0.7x
Fri, 01 Dec 2023NOK 131.6bNOK 192.6bNOK 6.8b12.5x19.3x0.7x
Sun, 29 Oct 2023NOK 126.9bNOK 192.4bNOK 6.7b11.8x18.8x0.7x
Tue, 26 Sep 2023NOK 131.7bNOK 200.1bNOK 14.0b6.8x9.4x0.7x
Thu, 24 Aug 2023NOK 123.8bNOK 200.1bNOK 14.0b6.3x8.8x0.6x
Sat, 22 Jul 2023NOK 128.9bNOK 211.2bNOK 20.2b5.1x6.4x0.6x
Mon, 19 Jun 2023NOK 150.6bNOK 211.2bNOK 20.2b5.6x7.5x0.7x
Wed, 17 May 2023NOK 144.5bNOK 209.3bNOK 24.6b4.7x5.9x0.7x
Fri, 14 Apr 2023NOK 167.0bNOK 209.4bNOK 24.7b6.3x6.8x0.8x
Sun, 12 Mar 2023NOK 159.1bNOK 209.4bNOK 24.7b6.3x6.4x0.8x
Tue, 07 Feb 2023NOK 168.4bNOK 211.6bNOK 31.4b5.3x5.4x0.8x
Thu, 05 Jan 2023NOK 142.2bNOK 211.6bNOK 31.4b4.5x4.5x0.7x
Price to Earnings Ratio

4.5x


Total Market Cap: NOK 142.2bTotal Earnings: NOK 31.4bTotal Revenue: NOK 211.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Metals and Mining Industry Price to Earnings3Y Average 38x20242025
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 14.4x which is lower than its 3-year average PE of 38.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.67x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 29% 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 Market0.53%
Materials0.96%
Metals and Mining0.43%
Steel9.86%
Diversified Metals and Mining1.40%
Aluminum0.26%
Gold0%0
Industry PE
  • Investors are most optimistic about the Aluminum industry even though it's trading below its 3-year average PE ratio of 78.9x.
    • Analysts are expecting annual earnings growth of 10.9%, which is lower than the prior year's growth of 719.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Steel industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings decline of 33% per year.
  • In contrast, the Aluminum 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
NHY Norsk HydroNOK 77.880.3%
+NOK 395.7m		24.4%PE14x
RANA Rana GruberNOK 76.909.9%
+NOK 255.9m		2.4%PE8.6x
AKOBO Akobo MineralsNOK 2.087.2%
+NOK 32.1m		10.1%PS25.1x
NOM Nordic MiningNOK 17.881.5%
+NOK 28.2m		-33.4%PS534.9x

Latest News

NHY
NOK 77.88
Norsk Hydro
7D
0.3%
1Y
24.4%

NHY: Rising Aluminum Price Hopes Will Likely Prove Overly Optimistic

The analyst fair value estimate for Norsk Hydro has been raised from approximately NOK 46.0 to NOK 50.3. This change reflects analysts' upward revisions to price targets following continued Overweight and Outperform ratings, as well as a stronger outlook for profitability despite modestly weaker revenue growth assumptions. Analyst Commentary Recent research updates have generally reflected a constructive stance on Norsk Hydro, with multiple price target increases signalling confidence in the companys earnings resilience and balance sheet strength.
RANA
NOK 76.90
Rana Gruber
7D
9.9%
1Y
2.4%
AKOBO
NOK 2.08
Akobo Minerals
7D
7.2%
1Y
10.1%
NOM
NOK 17.88
Nordic Mining
7D
1.5%
1Y
-33.4%
GEM
NOK 1.40
Green Minerals
7D
-3.8%
1Y
-59.9%