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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies4
  • 7D2.3%
  • 3M19.3%
  • 1Y30.1%
  • YTD11.8%

In the last week, the Metals and Mining industry is up 2.3%, with Norsk Hydro up 2.4%. Meanwhile, Akobo Minerals actually underperformed within the industry, shrinking 7.1% in the last week. This takes the industry's 12 month performance to a gain of 30%. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026NOK 180.3bNOK 209.5bNOK 6.6b17.9x27.4x0.9x
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
Mon, 26 Jun 2023NOK 130.5bNOK 211.2bNOK 20.2b5x6.5x0.6x
Wed, 24 May 2023NOK 143.6bNOK 209.3bNOK 24.6b4.6x5.8x0.7x
Fri, 21 Apr 2023NOK 171.0bNOK 209.4bNOK 24.7b6.2x6.9x0.8x
Sun, 19 Mar 2023NOK 149.3bNOK 209.4bNOK 24.7b6x6x0.7x
Price to Earnings Ratio

6x


Total Market Cap: NOK 149.3bTotal 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 38.9x202420252026
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 27.4x which is lower than its 3-year average PE of 38.9x.
  • 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 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 Market0.97%
Materials1.18%
Metals and Mining2.30%
Aluminum2.38%
Diversified Metals and Mining0.10%
Gold0%0
Steel-0.90%
Industry PE
  • Investors are most optimistic about the Aluminum industry even though it's trading below its 3-year average PE ratio of 79.8x.
    • Analysts are expecting annual earnings growth of 20.3%, 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 93.081.4%
+NOK 2.4b		39.8%PE27.2x
RANA Rana GruberNOK 78.400.6%
+NOK 18.5m		11.5%PE9.6x
GEM Green MineralsNOK 1.3510.7%
+NOK 2.6m		-52.6%PB3.8x

Latest News

RANA
NOK 78.40
Rana Gruber
7D
0.6%
1Y
11.5%

RANA: Cash Offer Will Likely Limit Future Upside Versus Standalone Fundamentals

Analysts have maintained their NOK 68.0 price target for Rana Gruber, citing only minor adjustments to the discount rate, long-term growth, and expected future P/E as the main reasons for keeping their view unchanged. What's in the News Champion Iron Limited agreed to acquire Rana Gruber ASA for cash consideration of NOK 79 per share, implying total equity value of about NOK 2.93b, with funding from a NOK 1.01b private placement, a NOK 1.52b term loan, and remaining cash and undrawn credit facilities (Key Developments).
NHY
NOK 93.08
Norsk Hydro
7D
1.4%
1Y
39.8%

NHY: Restructuring And Upstream Exposure Will Shape Balanced Returns Ahead

The updated analyst price target for Norsk Hydro moves to NOK 82.63 from NOK 79.25, with the change broadly supported by recent Street research. Several firms increased their NOK-based targets, while others flagged demand and downstream recovery risks.
NOM
NOK 10.98
Nordic Mining
7D
-0.2%
1Y
-47.3%
GEM
NOK 1.35
Green Minerals
7D
10.7%
1Y
-52.6%
AKOBO
NOK 1.95
Akobo Minerals
7D
-7.1%
1Y
12.7%