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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies4
  • 7D3.2%
  • 3M21.0%
  • 1Y30.8%
  • YTD10.1%

In the last week, the Metals and Mining industry is up 3.2%, with Norsk Hydro up 3.3%. In the same time, Akobo Minerals was down 9.3%. This takes the industry's 12 month performance to a gain of 31%. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026NOK 177.5bNOK 209.5bNOK 6.6b17.7x27x0.8x
Tue, 27 Jan 2026NOK 175.8bNOK 217.4bNOK 11.0b12.1x16x0.8x
Thu, 25 Dec 2025NOK 158.9bNOK 217.4bNOK 11.0b11.3x14.4x0.7x
Sat, 22 Nov 2025NOK 143.6bNOK 217.4bNOK 11.0b10x13x0.7x
Mon, 20 Oct 2025NOK 142.1bNOK 216.9bNOK 9.7b11.2x14.6x0.7x
Wed, 17 Sep 2025NOK 138.1bNOK 216.9bNOK 9.7b11.1x14.2x0.6x
Fri, 15 Aug 2025NOK 133.7bNOK 217.0bNOK 9.9b10.3x13.5x0.6x
Sun, 13 Jul 2025NOK 126.4bNOK 214.8bNOK 10.0b9.7x12.7x0.6x
Tue, 10 Jun 2025NOK 112.8bNOK 214.8bNOK 9.9b9.2x11.3x0.5x
Thu, 08 May 2025NOK 114.1bNOK 214.8bNOK 9.9b9.3x11.5x0.5x
Sat, 05 Apr 2025NOK 111.0bNOK 205.3bNOK 6.0b12.4x18.5x0.5x
Mon, 03 Mar 2025NOK 136.2bNOK 205.3bNOK 6.0b14.9x22.7x0.7x
Wed, 29 Jan 2025NOK 134.2bNOK 197.2bNOK 1.8b50.9x75.4x0.7x
Fri, 27 Dec 2024NOK 130.1bNOK 197.2bNOK 1.8b49.1x73.1x0.7x
Sun, 24 Nov 2024NOK 147.8bNOK 197.2bNOK 1.8b55.8x83x0.7x
Tue, 22 Oct 2024NOK 142.9bNOK 191.9bNOK 669.6m361.2x213.4x0.7x
Thu, 19 Sep 2024NOK 126.3bNOK 191.9bNOK 669.6m318.8x188.6x0.7x
Sat, 17 Aug 2024NOK 120.9bNOK 191.7bNOK 643.0m305.2x188x0.6x
Mon, 15 Jul 2024NOK 143.4bNOK 194.4bNOK 3.7b23.7x38.6x0.7x
Wed, 12 Jun 2024NOK 138.8bNOK 194.4bNOK 3.7b23x37.4x0.7x
Fri, 10 May 2024NOK 137.9bNOK 194.6bNOK 3.7b23.4x37.5x0.7x
Sun, 07 Apr 2024NOK 139.5bNOK 195.6bNOK 4.0b21.7x35x0.7x
Tue, 05 Mar 2024NOK 113.9bNOK 195.6bNOK 4.0b17.9x28.5x0.6x
Thu, 01 Feb 2024NOK 129.4bNOK 192.6bNOK 6.8b12.3x19x0.7x
Sat, 30 Dec 2023NOK 142.8bNOK 192.6bNOK 6.8b13.4x21x0.7x
Mon, 27 Nov 2023NOK 135.9bNOK 192.6bNOK 6.8b12.8x20x0.7x
Wed, 25 Oct 2023NOK 118.9bNOK 200.1bNOK 14.0b6.6x8.5x0.6x
Fri, 22 Sep 2023NOK 129.8bNOK 200.1bNOK 14.0b6.7x9.3x0.6x
Sun, 20 Aug 2023NOK 124.4bNOK 200.1bNOK 14.0b6.3x8.9x0.6x
Tue, 18 Jul 2023NOK 133.9bNOK 211.2bNOK 20.2b5.1x6.6x0.6x
Thu, 15 Jun 2023NOK 153.1bNOK 209.3bNOK 24.6b4.9x6.2x0.7x
Sat, 13 May 2023NOK 143.9bNOK 209.3bNOK 24.6b4.8x5.9x0.7x
Mon, 10 Apr 2023NOK 158.5bNOK 209.4bNOK 24.7b6.1x6.4x0.8x
Wed, 08 Mar 2023NOK 166.6bNOK 209.4bNOK 24.8b6.2x6.7x0.8x
Price to Earnings Ratio

6.7x


Total Market Cap: NOK 166.6bTotal Earnings: NOK 24.8bTotal Revenue: NOK 209.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Metals and Mining Industry Price to Earnings3Y Average 38.7x202420252026
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 27.0x which is lower than its 3-year average PE of 38.7x.
  • 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 Market0.43%
Materials2.90%
Metals and Mining3.21%
Diversified Metals and Mining3.37%
Aluminum3.26%
Steel0.52%
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 79.6x.
    • Analysts are expecting annual earnings growth of 19.3%, 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 19% 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 88.143.3%
+NOK 5.5b		33.1%PE25.8x
NOM Nordic MiningNOK 11.343.7%
+NOK 50.0m		-50.9%PS297.1x
RANA Rana GruberNOK 77.800.5%
+NOK 14.8m		8.2%PE9.6x

Latest News

NHY
NOK 88.14
Norsk Hydro
7D
3.3%
1Y
33.1%
RANA
NOK 77.80
Rana Gruber
7D
0.5%
1Y
8.2%

RANA: Cash Offer Will Likely Cap Upside Versus Standalone Fundamentals

Analysts have kept their NOK fair value for Rana Gruber effectively unchanged at NOK 68.0, citing updated assumptions around discount rate, revenue growth, profit margin and future P/E that refine rather than materially shift their overall view. What's in the News Champion Iron Limited agreed to acquire Rana Gruber ASA for NOK 2.93b, offering NOK 79 per share in cash, with financing from a NOK 1.01b private placement, NOK 1.52b term loan, and NOK 370m from cash and existing credit facilities (Key Developments).
NOM
NOK 11.34
Nordic Mining
7D
3.7%
1Y
-50.9%
GEM
NOK 1.25
Green Minerals
7D
-10.8%
1Y
-42.1%
AKOBO
NOK 2.05
Akobo Minerals
7D
-9.3%
1Y
12.0%