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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies4
  • 7D-2.8%
  • 3M16.2%
  • 1Y28.4%
  • YTD12.9%

The Metals and Mining industry is up 4.3% in the last week, with Nordic Mining up 2.4%. This means that the industry has gained 33% over the past year. 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, 19 Mar 2026NOK 182.1bNOK 209.5bNOK 6.6b18x27.7x0.9x
Sat, 14 Feb 2026NOK 174.1bNOK 217.4bNOK 10.9b12.1x16x0.8x
Mon, 12 Jan 2026NOK 166.3bNOK 217.4bNOK 11.0b11.7x15.1x0.8x
Wed, 10 Dec 2025NOK 151.3bNOK 217.4bNOK 11.0b10.4x13.7x0.7x
Fri, 07 Nov 2025NOK 140.2bNOK 217.4bNOK 11.0b10.2x12.8x0.6x
Sun, 05 Oct 2025NOK 141.4bNOK 216.9bNOK 9.7b11.3x14.5x0.7x
Tue, 02 Sep 2025NOK 133.3bNOK 217.0bNOK 9.8b10x13.6x0.6x
Thu, 31 Jul 2025NOK 129.5bNOK 217.0bNOK 9.9b10.1x13.1x0.6x
Sat, 28 Jun 2025NOK 118.9bNOK 214.8bNOK 10.0b9.3x11.9x0.6x
Mon, 26 May 2025NOK 115.2bNOK 214.8bNOK 9.9b9.2x11.6x0.5x
Wed, 23 Apr 2025NOK 109.7bNOK 205.3bNOK 6.0b12.5x18.3x0.5x
Fri, 21 Mar 2025NOK 139.7bNOK 205.3bNOK 6.0b15.1x23.3x0.7x
Sun, 16 Feb 2025NOK 135.7bNOK 210.5bNOK 6.1b14.1x22.2x0.6x
Tue, 14 Jan 2025NOK 134.6bNOK 197.2bNOK 1.8b50.8x75.6x0.7x
Thu, 12 Dec 2024NOK 136.8bNOK 197.2bNOK 1.8b51.7x76.8x0.7x
Sat, 09 Nov 2024NOK 143.8bNOK 197.3bNOK 1.8b54.2x78.6x0.7x
Mon, 07 Oct 2024NOK 143.4bNOK 191.9bNOK 669.6m362.2x214.2x0.7x
Wed, 04 Sep 2024NOK 119.1bNOK 191.9bNOK 669.6m300.2x177.8x0.6x
Fri, 02 Aug 2024NOK 123.4bNOK 191.7bNOK 642.5m311x192x0.6x
Sun, 30 Jun 2024NOK 138.2bNOK 194.4bNOK 3.7b23.1x37.2x0.7x
Tue, 28 May 2024NOK 143.9bNOK 194.4bNOK 3.7b23.9x38.8x0.7x
Thu, 25 Apr 2024NOK 140.8bNOK 195.6bNOK 4.0b21.9x35.3x0.7x
Sat, 23 Mar 2024NOK 127.1bNOK 195.6bNOK 4.0b19.9x31.8x0.6x
Mon, 19 Feb 2024NOK 122.0bNOK 195.6bNOK 4.0b19.4x30.6x0.6x
Wed, 17 Jan 2024NOK 130.1bNOK 192.6bNOK 6.8b12.2x19.1x0.7x
Fri, 15 Dec 2023NOK 137.4bNOK 192.6bNOK 6.8b13x20.2x0.7x
Sun, 12 Nov 2023NOK 126.5bNOK 192.4bNOK 6.7b12x18.8x0.7x
Tue, 10 Oct 2023NOK 127.3bNOK 200.1bNOK 14.0b6.6x9.1x0.6x
Thu, 07 Sep 2023NOK 130.1bNOK 200.1bNOK 14.0b6.7x9.3x0.7x
Sat, 05 Aug 2023NOK 136.4bNOK 200.1bNOK 14.1b6.8x9.7x0.7x
Mon, 03 Jul 2023NOK 133.6bNOK 211.2bNOK 20.2b5.2x6.6x0.6x
Wed, 31 May 2023NOK 144.2bNOK 209.3bNOK 24.6b4.7x5.9x0.7x
Fri, 28 Apr 2023NOK 167.9bNOK 209.4bNOK 24.7b6x6.8x0.8x
Sun, 26 Mar 2023NOK 149.9bNOK 209.4bNOK 24.7b6x6.1x0.7x
Price to Earnings Ratio

6.1x


Total Market Cap: NOK 149.9bTotal 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 39.1x202420252026
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 28.6x which is lower than its 3-year average PE of 39.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.68x.
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 Market3.73%
Materials1.39%
Metals and Mining-2.75%
Diversified Metals and Mining2.38%
Gold0%0
Steel0%0
Aluminum-2.84%
Industry PE
  • Investors are most optimistic about the Aluminum industry even though it's trading below its 3-year average PE ratio of 79.9x.
    • Analysts are expecting annual earnings growth of 19.6%, 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
NOM Nordic MiningNOK 11.242.4%
+NOK 32.5m		-46.2%PS294.5x
GEM Green MineralsNOK 1.393.0%
+NOK 808.1k		-55.0%PB3.9x

Latest News

NOM
NOK 11.24
Nordic Mining
7D
2.4%
1Y
-46.2%
NHY
NOK 90.44
Norsk Hydro
7D
-2.8%
1Y
30.2%

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.
GEM
NOK 1.39
Green Minerals
7D
3.0%
1Y
-55.0%
AKOBO
NOK 1.81
Akobo Minerals
7D
-7.2%
1Y
13.5%