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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies5
  • 7D-4.3%
  • 3M-22.4%
  • 1Y30.7%
  • YTD2.9%

Over the last 7 days, the Metals and Mining industry has dropped 4.3%, driven by a pullback from Norsk Hydro of 5.9%. In contrast, Nordic Mining has gained 12%. In the past year, the industry has gained 31%. Looking forward, earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026NOK 163.7bNOK 201.3bNOK 5.4b26.6x30.2x0.8x
Fri, 19 Jun 2026NOK 200.9bNOK 201.3bNOK 5.5b32.7x36.5x1x
Sun, 17 May 2026NOK 209.0bNOK 201.3bNOK 5.5b34x38x1x
Tue, 14 Apr 2026NOK 217.3bNOK 208.0bNOK 6.3b32.1x34.6x1x
Thu, 12 Mar 2026NOK 187.2bNOK 209.5bNOK 6.6b18.4x28.5x0.9x
Sat, 07 Feb 2026NOK 178.9bNOK 217.4bNOK 10.9b12.3x16.5x0.8x
Mon, 05 Jan 2026NOK 162.0bNOK 217.4bNOK 11.0b11.5x14.7x0.7x
Wed, 03 Dec 2025NOK 146.4bNOK 217.4bNOK 11.0b10.2x13.3x0.7x
Fri, 31 Oct 2025NOK 137.0bNOK 217.4bNOK 11.1b10x12.3x0.6x
Sun, 28 Sep 2025NOK 134.3bNOK 216.9bNOK 9.7b11x13.8x0.6x
Tue, 26 Aug 2025NOK 136.7bNOK 217.0bNOK 9.8b10.6x13.9x0.6x
Thu, 24 Jul 2025NOK 130.2bNOK 216.7bNOK 9.9b10.1x13.2x0.6x
Sat, 21 Jun 2025NOK 115.2bNOK 214.8bNOK 9.9b9.3x11.6x0.5x
Mon, 19 May 2025NOK 118.8bNOK 214.8bNOK 9.9b9.4x12x0.6x
Wed, 16 Apr 2025NOK 111.6bNOK 205.3bNOK 6.0b12.6x18.6x0.5x
Fri, 14 Mar 2025NOK 138.8bNOK 205.3bNOK 6.0b15.1x23.2x0.7x
Sun, 09 Feb 2025NOK 139.3bNOK 197.2bNOK 1.8b52.7x78.2x0.7x
Tue, 07 Jan 2025NOK 130.5bNOK 197.2bNOK 1.8b49.4x73.3x0.7x
Thu, 05 Dec 2024NOK 144.1bNOK 197.2bNOK 1.8b54.5x80.9x0.7x
Sat, 02 Nov 2024NOK 143.3bNOK 197.3bNOK 1.8b53.9x78.7x0.7x
Mon, 30 Sep 2024NOK 142.1bNOK 191.9bNOK 669.6m359x212.2x0.7x
Wed, 28 Aug 2024NOK 125.9bNOK 191.7bNOK 636.9m317.9x197.7x0.7x
Fri, 26 Jul 2024NOK 125.4bNOK 191.7bNOK 642.5m316.6x195.1x0.7x
Sun, 23 Jun 2024NOK 135.3bNOK 194.4bNOK 3.7b22.6x36.5x0.7x
Tue, 21 May 2024NOK 140.0bNOK 194.4bNOK 3.7b23.3x37.7x0.7x
Thu, 18 Apr 2024NOK 148.6bNOK 195.6bNOK 4.0b23x37.3x0.8x
Sat, 16 Mar 2024NOK 121.0bNOK 195.6bNOK 4.0b18.9x30.3x0.6x
Mon, 12 Feb 2024NOK 122.0bNOK 192.6bNOK 6.9b11.6x17.8x0.6x
Wed, 10 Jan 2024NOK 139.0bNOK 192.6bNOK 6.8b13x20.4x0.7x
Fri, 08 Dec 2023NOK 128.5bNOK 192.6bNOK 6.8b12.2x18.9x0.7x
Sun, 05 Nov 2023NOK 132.0bNOK 192.4bNOK 6.7b12.3x19.6x0.7x
Tue, 03 Oct 2023NOK 140.7bNOK 200.1bNOK 14.0b7x10.1x0.7x
Thu, 31 Aug 2023NOK 124.0bNOK 200.1bNOK 14.0b6.6x8.9x0.6x
Sat, 29 Jul 2023NOK 136.7bNOK 200.1bNOK 14.1b6.8x9.7x0.7x
Price to Earnings Ratio

9.7x


Total Market Cap: NOK 136.7bTotal Earnings: NOK 14.1bTotal Revenue: NOK 200.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Metals and Mining Industry Price to Earnings3Y Average 42.3x202420252026
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 30.2x which is lower than its 3-year average PE of 42.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.71x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 27% 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-0.042%
Materials-2.71%
Metals and Mining-4.28%
Copper0%0
Gold0%0
Steel0%0
Diversified Metals and Mining-1.06%
Aluminum-4.30%
Industry PE
  • Investors are most optimistic about the Aluminum industry even though it's trading below its 3-year average PE ratio of 82.8x.
    • Analysts are expecting annual earnings growth of 21.1%, which is higher than its past year's earnings decline of 36.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aluminum industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 37% per year.
  • In contrast, the Aluminum industry is expected to see its earnings grow by 21% 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
NOM Nordic MiningNOK 5.4312.2%
+NOK 73.8m		-77.5%PS74.8x
GOLDR Gold Road InternationalNOK 8.808.0%
+NOK 37.3m		n/aPS22.4x
AKOBO Akobo MineralsNOK 1.462.1%
+NOK 6.9m		62.6%PS5.7x
GEM Green MineralsNOK 1.152.7%
+NOK 606.0k		-56.3%PB3.2x

Latest News

NHY
NOK 83.70
Norsk Hydro
7D
-5.9%
1Y
31.4%
Narrative Update • Jul 16

NHY: Execution Risks And Slovalco Restart Will Likely Restrain Future Upside

Analysts have taken a slightly more cautious view on Norsk Hydro, trimming the fair value estimate and price targets. Several recent revisions in the NOK 93 to NOK 116 range factor in more moderate revenue growth assumptions, steady margins, and updated P/E expectations.
POLAR
NOK 5.16
Polar Resources
7D
-7.9%
1Y
n/a
AKOBO
NOK 1.46
Akobo Minerals
7D
2.1%
1Y
62.6%
NOM
NOK 5.43
Nordic Mining
7D
12.2%
1Y
-77.5%
GEM
NOK 1.15
Green Minerals
7D
2.7%
1Y
-56.3%