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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies4
  • 7D-6.0%
  • 3M11.9%
  • 1Y30.0%
  • YTD9.7%

Over the last 7 days, the Metals and Mining industry has dropped 7.0%, driven by a pullback from Norsk Hydro of 6.1%. Over the past 12 months, the industry was up 29%. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026NOK 176.9bNOK 209.5bNOK 6.6b17.7x26.9x0.8x
Fri, 20 Feb 2026NOK 168.8bNOK 209.5bNOK 6.6b17x25.7x0.8x
Sun, 18 Jan 2026NOK 170.0bNOK 217.4bNOK 11.0b11.9x15.4x0.8x
Tue, 16 Dec 2025NOK 152.6bNOK 217.4bNOK 11.0b10.6x13.9x0.7x
Thu, 13 Nov 2025NOK 150.9bNOK 217.4bNOK 11.0b10.9x13.7x0.7x
Sat, 11 Oct 2025NOK 139.4bNOK 216.9bNOK 9.7b11.1x14.3x0.6x
Mon, 08 Sep 2025NOK 136.5bNOK 217.0bNOK 9.8b10.1x13.9x0.6x
Wed, 06 Aug 2025NOK 128.8bNOK 217.0bNOK 9.9b10.1x13x0.6x
Fri, 04 Jul 2025NOK 122.6bNOK 214.8bNOK 10.0b9.5x12.3x0.6x
Sun, 01 Jun 2025NOK 115.9bNOK 214.8bNOK 9.9b9.3x11.7x0.5x
Tue, 29 Apr 2025NOK 116.5bNOK 205.3bNOK 6.0b13.3x19.4x0.6x
Thu, 27 Mar 2025NOK 135.0bNOK 205.3bNOK 6.0b14.7x22.5x0.7x
Sat, 22 Feb 2025NOK 136.6bNOK 205.3bNOK 6.0b14.9x22.8x0.7x
Mon, 20 Jan 2025NOK 141.1bNOK 197.2bNOK 1.8b53.4x79.2x0.7x
Wed, 18 Dec 2024NOK 132.4bNOK 197.2bNOK 1.8b50x74.4x0.7x
Fri, 15 Nov 2024NOK 136.9bNOK 197.2bNOK 1.8b51.8x76.9x0.7x
Sun, 13 Oct 2024NOK 145.7bNOK 191.9bNOK 669.6m368.2x217.5x0.8x
Tue, 10 Sep 2024NOK 117.0bNOK 191.9bNOK 669.6m294.7x174.6x0.6x
Thu, 08 Aug 2024NOK 118.2bNOK 191.7bNOK 642.5m298x183.9x0.6x
Sat, 06 Jul 2024NOK 140.0bNOK 194.4bNOK 3.7b23.3x37.7x0.7x
Mon, 03 Jun 2024NOK 147.9bNOK 194.4bNOK 3.7b24.5x39.9x0.8x
Wed, 01 May 2024NOK 143.9bNOK 194.6bNOK 3.7b24.3x39.2x0.7x
Fri, 29 Mar 2024NOK 124.2bNOK 195.6bNOK 4.0b19.6x31.1x0.6x
Sun, 25 Feb 2024NOK 117.2bNOK 195.6bNOK 4.0b18.4x29.4x0.6x
Tue, 23 Jan 2024NOK 123.1bNOK 192.6bNOK 6.8b11.7x18.1x0.6x
Thu, 21 Dec 2023NOK 140.5bNOK 192.6bNOK 6.8b13.2x20.7x0.7x
Sat, 18 Nov 2023NOK 135.9bNOK 192.6bNOK 6.8b12.8x20x0.7x
Mon, 16 Oct 2023NOK 128.4bNOK 200.1bNOK 14.0b6.7x9.2x0.6x
Wed, 13 Sep 2023NOK 128.9bNOK 200.1bNOK 14.0b6.7x9.2x0.6x
Fri, 11 Aug 2023NOK 135.4bNOK 200.1bNOK 14.1b6.7x9.6x0.7x
Sun, 09 Jul 2023NOK 129.5bNOK 211.2bNOK 20.2b5x6.4x0.6x
Tue, 06 Jun 2023NOK 144.0bNOK 209.3bNOK 24.6b4.7x5.9x0.7x
Thu, 04 May 2023NOK 160.3bNOK 209.4bNOK 24.7b6.5x6.5x0.8x
Sat, 01 Apr 2023NOK 162.6bNOK 209.4bNOK 24.7b6.2x6.6x0.8x
Price to Earnings Ratio

6.6x


Total Market Cap: NOK 162.6bTotal 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 39.2x202420252026
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 26.8x which is lower than its 3-year average PE of 39.2x.
  • 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 Market-0.33%
Materials-6.73%
Metals and Mining-5.96%
Diversified Metals and Mining1.45%
Steel0.51%
Gold0%0
Aluminum-6.12%
Industry PE
  • Investors are most optimistic about the Aluminum industry even though it's trading below its 3-year average PE ratio of 80.0x.
    • 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
NHY Norsk HydroNOK 91.581.3%
+NOK 2.2b		39.3%PE26.8x
NOM Nordic MiningNOK 11.764.6%
+NOK 65.0m		-45.8%PS308.1x
GEM Green MineralsNOK 1.475.8%
+NOK 1.6m		-40.0%PB4.1x

Latest News

NHY
NOK 91.58
Norsk Hydro
7D
1.3%
1Y
39.3%

NHY: Extrusion Restructuring And Dividend Plans Will Support Higher Future Earnings Multiples

Norsk Hydro’s analyst fair value estimate has been raised from NOK 102.0 to NOK 110.0, reflecting updated views on revenue growth, profit margins and forward P/E after a mix of recent target hikes and rating changes across the Street. Analyst Commentary Recent Street research on Norsk Hydro shows a split view, but with a clear cluster of bullish analysts lifting price targets and ratings as they reassess the company’s earnings power and valuation.
NOM
NOK 11.76
Nordic Mining
7D
4.6%
1Y
-45.8%
GEM
NOK 1.47
Green Minerals
7D
5.8%
1Y
-40.0%
AKOBO
NOK 1.62
Akobo Minerals
7D
-10.5%
1Y
8.4%