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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedDec 19, 2025
DataAggregated Company Financials
Companies4
  • 7D1.9%
  • 3M16.3%
  • 1Y22.3%
  • YTD19.1%

In the last week, the Metals and Mining industry is up 4.1%, with Norsk Hydro up 1.9%. This means that the industry has gained 20% over the past year. 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
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
Thu, 02 Mar 2023NOK 164.4bNOK 209.4bNOK 24.8b4.7x6.6x0.8x
Sat, 28 Jan 2023NOK 169.2bNOK 211.6bNOK 31.4b5.3x5.4x0.8x
Mon, 26 Dec 2022NOK 152.6bNOK 211.6bNOK 31.4b4.8x4.9x0.7x
Price to Earnings Ratio

4.9x


Total Market Cap: NOK 152.6bTotal 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 14.4x 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 Market0.32%
Materials1.98%
Metals and Mining1.93%
Diversified Metals and Mining4.23%
Aluminum1.92%
Steel0.88%
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 10.9%, 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 77.321.9%
+NOK 2.9b		24.0%PE13.9x
NOM Nordic MiningNOK 17.364.3%
+NOK 78.1m		-29.7%PS519.3x
RANA Rana GruberNOK 68.900.9%
+NOK 22.3m		-3.2%PE7.7x

Latest News

RANA
NOK 68.90
Rana Gruber
7D
0.9%
1Y
-3.2%

RANA: Dividend And Hedging Strategy Will Support Future Share Price Upside

Narrative Update on Analyst Price Target Analysts have trimmed their target price for Rana Gruber by NOK 10 to NOK 80 per share. This reflects slightly lower expectations for revenue growth and a modestly higher discount rate, while largely maintaining their profit margin outlook.
AKOBO
NOK 1.94
Akobo Minerals
7D
-2.0%
1Y
-1.8%
NHY
NOK 77.32
Norsk Hydro
7D
1.9%
1Y
24.0%

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.
NOM
NOK 17.36
Nordic Mining
7D
4.3%
1Y
-29.7%
GEM
NOK 1.46
Green Minerals
7D
-1.4%
1Y
-60.9%