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Norwegian (OSEAX) Metals and Mining Industry Analysis

UpdatedFeb 01, 2026
DataAggregated Company Financials
Companies4
  • 7D0.4%
  • 3M25.6%
  • 1Y27.0%
  • YTD8.0%

In the last week, Metals and Mining has been flat. The past year has been better, since the industry has gained 27% in that time. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Feb 2026NOK 175.1bNOK 217.4bNOK 11.0b12.1x15.9x0.8x
Tue, 30 Dec 2025NOK 157.7bNOK 217.4bNOK 11.0b11.3x14.3x0.7x
Thu, 27 Nov 2025NOK 145.0bNOK 217.4bNOK 11.0b10.1x13.2x0.7x
Sat, 25 Oct 2025NOK 139.2bNOK 216.9bNOK 9.7b11x14.3x0.6x
Mon, 22 Sep 2025NOK 135.3bNOK 216.9bNOK 9.7b11x13.9x0.6x
Wed, 20 Aug 2025NOK 133.6bNOK 217.0bNOK 9.8b10.3x13.6x0.6x
Fri, 18 Jul 2025NOK 125.0bNOK 214.8bNOK 10.0b9.6x12.5x0.6x
Sun, 15 Jun 2025NOK 114.5bNOK 214.8bNOK 9.9b9.3x11.5x0.5x
Tue, 13 May 2025NOK 119.4bNOK 214.8bNOK 9.9b9.4x12.1x0.6x
Thu, 10 Apr 2025NOK 107.0bNOK 205.3bNOK 6.0b12.1x17.9x0.5x
Sat, 08 Mar 2025NOK 144.0bNOK 205.3bNOK 6.0b15.5x24x0.7x
Mon, 03 Feb 2025NOK 137.7bNOK 197.2bNOK 1.8b52.1x77.4x0.7x
Wed, 01 Jan 2025NOK 130.1bNOK 197.2bNOK 1.8b49.2x73.1x0.7x
Fri, 29 Nov 2024NOK 141.6bNOK 197.2bNOK 1.8b53.5x79.5x0.7x
Sun, 27 Oct 2024NOK 142.3bNOK 197.3bNOK 1.8b53.5x78.2x0.7x
Tue, 24 Sep 2024NOK 128.8bNOK 191.9bNOK 669.6m325.3x192.4x0.7x
Thu, 22 Aug 2024NOK 123.6bNOK 191.7bNOK 643.0m312.3x192.2x0.6x
Sat, 20 Jul 2024NOK 132.2bNOK 194.4bNOK 3.7b22x35.6x0.7x
Mon, 17 Jun 2024NOK 135.3bNOK 194.4bNOK 3.7b22.4x36.5x0.7x
Wed, 15 May 2024NOK 141.3bNOK 194.6bNOK 3.7b23.7x38.5x0.7x
Fri, 12 Apr 2024NOK 141.8bNOK 195.6bNOK 4.0b22.1x35.5x0.7x
Sun, 10 Mar 2024NOK 116.6bNOK 195.6bNOK 4.0b18.3x29.2x0.6x
Tue, 06 Feb 2024NOK 123.6bNOK 192.6bNOK 6.8b11.7x18.2x0.6x
Thu, 04 Jan 2024NOK 137.7bNOK 192.6bNOK 6.8b13x20.2x0.7x
Sat, 02 Dec 2023NOK 135.1bNOK 192.6bNOK 6.8b12.8x19.9x0.7x
Mon, 30 Oct 2023NOK 126.9bNOK 192.4bNOK 6.7b11.8x18.8x0.7x
Wed, 27 Sep 2023NOK 133.4bNOK 200.1bNOK 14.0b6.8x9.6x0.7x
Fri, 25 Aug 2023NOK 121.7bNOK 200.1bNOK 14.0b6.2x8.7x0.6x
Sun, 23 Jul 2023NOK 130.6bNOK 211.2bNOK 20.2b5.1x6.5x0.6x
Tue, 20 Jun 2023NOK 143.7bNOK 211.2bNOK 20.2b5.4x7.1x0.7x
Thu, 18 May 2023NOK 144.5bNOK 209.3bNOK 24.6b4.7x5.9x0.7x
Sat, 15 Apr 2023NOK 167.6bNOK 209.4bNOK 24.7b6.3x6.8x0.8x
Mon, 13 Mar 2023NOK 159.1bNOK 209.4bNOK 24.7b6.3x6.4x0.8x
Wed, 08 Feb 2023NOK 168.4bNOK 211.6bNOK 31.4b5.4x5.4x0.8x
Price to Earnings Ratio

5.4x


Total Market Cap: NOK 168.4bTotal 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 38.3x202420252026
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 15.9x which is lower than its 3-year average PE of 38.3x.
  • 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 Market1.36%
Materials-0.17%
Metals and Mining0.43%
Diversified Metals and Mining1.37%
Steel0.78%
Aluminum0.42%
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 79.2x.
    • Analysts are expecting annual earnings growth of 13.4%, 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 13% over the next 5 years.
  • In contrast, the Steel industry is expected to see its earnings grow by 12% 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 86.320.4%
+NOK 712.3m		28.9%PE15.5x
RANA Rana GruberNOK 77.900.8%
+NOK 22.3m		6.0%PE8.8x
NOM Nordic MiningNOK 11.961.4%
+NOK 18.8m		-45.4%PS388x
GEM Green MineralsNOK 1.472.1%
+NOK 603.8k		-61.2%PS4931x

Latest News

GEM
NOK 1.47
Green Minerals
7D
2.1%
1Y
-61.2%
NHY
NOK 86.32
Norsk Hydro
7D
0.4%
1Y
28.9%

NHY: Restructuring And Hydropower Investment Will Shape Balanced Returns Ahead

Narrative Update Analysts have lifted their implied fair value estimate for Norsk Hydro from NOK 74.13 to NOK 79.25, reflecting higher Street price targets in the NOK 75 to NOK 99 range and updated assumptions on discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Street research on Norsk Hydro has leaned constructive in recent months, with several firms adjusting their price targets upward into the NOK 75 to NOK 99 range.
RANA
NOK 77.90
Rana Gruber
7D
0.8%
1Y
6.0%

RANA: Cash Offer And Unchanged Outlook Will Cap Future Share Upside

Analysts have kept their price target for Rana Gruber broadly unchanged at about NOK 68. This reflects only minor tweaks to inputs like discount rate, revenue growth, profit margin and future P/E assumptions, rather than a shift in their overall view of the company.
NOM
NOK 11.96
Nordic Mining
7D
1.4%
1Y
-45.4%
AKOBO
NOK 2.40
Akobo Minerals
7D
-0.4%
1Y
18.8%