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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedDec 12, 2025
DataAggregated Company Financials
Companies4
  • 7D2.6%
  • 3M13.1%
  • 1Y14.3%
  • YTD16.8%

The Metals and Mining industry is up 3.3% in the last week, with Norsk Hydro up 3.4%. During this same period, the Green Minerals underperformed, falling 16%. This takes the industry's 12 month performance to a gain of 9.6%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Dec 2025NOK 154.5bNOK 217.4bNOK 11.0b10.7x14x0.7x
Sun, 09 Nov 2025NOK 142.1bNOK 217.4bNOK 11.0b10.3x12.9x0.7x
Tue, 07 Oct 2025NOK 142.1bNOK 216.9bNOK 9.7b11.4x14.6x0.7x
Thu, 04 Sep 2025NOK 134.0bNOK 217.0bNOK 9.8b10x13.7x0.6x
Sat, 02 Aug 2025NOK 127.0bNOK 217.0bNOK 9.9b9.9x12.8x0.6x
Mon, 30 Jun 2025NOK 119.1bNOK 214.8bNOK 10.0b9.3x11.9x0.6x
Wed, 28 May 2025NOK 117.3bNOK 214.8bNOK 9.9b9.3x11.8x0.5x
Fri, 25 Apr 2025NOK 114.6bNOK 205.3bNOK 6.0b13x19.1x0.6x
Sun, 23 Mar 2025NOK 135.6bNOK 205.3bNOK 6.0b14.7x22.6x0.7x
Tue, 18 Feb 2025NOK 138.9bNOK 205.3bNOK 6.0b15.2x23.2x0.7x
Thu, 16 Jan 2025NOK 137.8bNOK 197.2bNOK 1.8b52x77.4x0.7x
Sat, 14 Dec 2024NOK 135.0bNOK 197.2bNOK 1.8b51.1x75.8x0.7x
Mon, 11 Nov 2024NOK 143.8bNOK 197.3bNOK 1.8b54.2x78.6x0.7x
Wed, 09 Oct 2024NOK 137.5bNOK 191.9bNOK 669.6m347.1x205.4x0.7x
Fri, 06 Sep 2024NOK 118.0bNOK 191.9bNOK 669.6m297.7x176.3x0.6x
Sun, 04 Aug 2024NOK 120.0bNOK 191.7bNOK 642.5m302.4x186.8x0.6x
Tue, 02 Jul 2024NOK 138.8bNOK 194.4bNOK 3.7b23.1x37.4x0.7x
Thu, 30 May 2024NOK 144.9bNOK 194.4bNOK 3.7b24.1x39.1x0.7x
Sat, 27 Apr 2024NOK 145.8bNOK 194.6bNOK 3.7b24.6x39.8x0.7x
Mon, 25 Mar 2024NOK 127.1bNOK 195.6bNOK 4.0b19.9x31.8x0.6x
Wed, 21 Feb 2024NOK 118.2bNOK 195.6bNOK 4.0b18.6x29.6x0.6x
Fri, 19 Jan 2024NOK 125.8bNOK 192.6bNOK 6.8b11.9x18.5x0.7x
Sun, 17 Dec 2023NOK 138.9bNOK 192.6bNOK 6.8b13.1x20.4x0.7x
Tue, 14 Nov 2023NOK 125.8bNOK 192.4bNOK 6.7b12x18.7x0.7x
Thu, 12 Oct 2023NOK 130.2bNOK 200.1bNOK 14.0b6.8x9.3x0.7x
Sat, 09 Sep 2023NOK 123.5bNOK 200.1bNOK 14.0b6.5x8.9x0.6x
Mon, 07 Aug 2023NOK 136.4bNOK 200.1bNOK 14.1b6.8x9.7x0.7x
Wed, 05 Jul 2023NOK 136.3bNOK 211.2bNOK 20.2b5.2x6.8x0.6x
Fri, 02 Jun 2023NOK 139.7bNOK 209.3bNOK 24.6b4.6x5.7x0.7x
Sun, 30 Apr 2023NOK 163.3bNOK 209.4bNOK 24.7b6.2x6.6x0.8x
Tue, 28 Mar 2023NOK 154.0bNOK 209.4bNOK 24.7b6.1x6.2x0.7x
Thu, 23 Feb 2023NOK 162.3bNOK 209.4bNOK 24.8b4.6x6.6x0.8x
Sat, 21 Jan 2023NOK 167.4bNOK 211.6bNOK 31.4b5.3x5.3x0.8x
Mon, 19 Dec 2022NOK 144.4bNOK 211.6bNOK 31.4b4.6x4.6x0.7x
Price to Earnings Ratio

4.6x


Total Market Cap: NOK 144.4bTotal 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 37.9x202320242025
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 13.7x which is lower than its 3-year average PE of 37.9x.
  • 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 Market0.74%
Materials2.28%
Metals and Mining2.62%
Diversified Metals and Mining5.14%
Aluminum2.62%
Steel0.89%
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 78.8x.
    • Analysts are expecting annual earnings growth of 10.7%, which is lower than the prior year's growth of 719.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aluminum industry, expecting annual earnings growth of 11% over the next 5 years.
  • In contrast, the Steel 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 75.802.5%
+NOK 3.6b		16.4%PE13.6x
NOM Nordic MiningNOK 16.966.3%
+NOK 108.4m		-30.5%PS507.4x
RANA Rana GruberNOK 68.601.6%
+NOK 40.8m		-8.5%PE7.7x

Latest News

AKOBO
NOK 1.96
Akobo Minerals
7D
-1.8%
1Y
-2.0%
NHY
NOK 75.80
Norsk Hydro
7D
2.5%
1Y
16.4%

NHY: Cost Cuts And Hydropower Expansion Will Drive Balanced Returns Ahead

Norsk Hydro's analyst fair value estimate has been lifted to about NOK 74 from roughly NOK 72, as analysts point to a series of recent price target hikes across major banks. These reflect slightly stronger profit margin expectations and more supportive forward valuation multiples, despite modestly weaker revenue growth assumptions.
RANA
NOK 68.60
Rana Gruber
7D
1.6%
1Y
-8.5%

Rana Gruber ASA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Nov 15
Rana Gruber ASA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
NOM
NOK 16.96
Nordic Mining
7D
6.3%
1Y
-30.5%
GEM
NOK 1.47
Green Minerals
7D
-3.6%
1Y
-63.3%