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Swedish (OMX) Metals and Mining Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies18
  • 7D-10.1%
  • 3M3.1%
  • 1Y20.6%
  • YTD-2.4%

Over the last 7 days, the Metals and Mining industry has dropped 10%, driven by Boliden declining 13%. Over the past 12 months, the industry was up 21%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026SEK 260.5bSEK 240.6bSEK 15.9b14.5x16.4x1.1x
Tue, 17 Feb 2026SEK 304.0bSEK 240.6bSEK 15.9b16.1x19.2x1.3x
Thu, 15 Jan 2026SEK 289.4bSEK 239.2bSEK 14.8b17.1x19.5x1.2x
Sat, 13 Dec 2025SEK 245.5bSEK 239.2bSEK 14.8b15.1x16.5x1x
Mon, 10 Nov 2025SEK 218.0bSEK 239.3bSEK 14.9b14.7x14.7x0.9x
Wed, 08 Oct 2025SEK 212.6bSEK 240.0bSEK 14.6b14.1x14.5x0.9x
Fri, 05 Sep 2025SEK 183.6bSEK 240.0bSEK 14.6b12.8x12.6x0.8x
Sun, 03 Aug 2025SEK 175.7bSEK 239.9bSEK 14.6b13.6x12x0.7x
Tue, 01 Jul 2025SEK 176.2bSEK 242.7bSEK 18.7b12.3x9.4x0.7x
Thu, 29 May 2025SEK 182.6bSEK 242.7bSEK 18.7b12.8x9.8x0.8x
Sat, 26 Apr 2025SEK 182.3bSEK 242.5bSEK 20.2b12.4x9x0.8x
Mon, 24 Mar 2025SEK 208.5bSEK 239.4bSEK 18.8b12.8x11.1x0.9x
Wed, 19 Feb 2025SEK 212.1bSEK 239.4bSEK 18.6b14.2x11.4x0.9x
Fri, 17 Jan 2025SEK 177.7bSEK 235.9bSEK 18.9b15.5x9.4x0.8x
Sun, 15 Dec 2024SEK 175.0bSEK 235.9bSEK 18.9b14.8x9.3x0.7x
Tue, 12 Nov 2024SEK 181.5bSEK 235.9bSEK 18.8b13.6x9.6x0.8x
Thu, 10 Oct 2024SEK 176.5bSEK 239.0bSEK 20.4b10.8x8.7x0.7x
Sat, 07 Sep 2024SEK 158.6bSEK 239.0bSEK 20.3b10.3x7.8x0.7x
Mon, 05 Aug 2024SEK 172.4bSEK 238.9bSEK 20.3b11x8.5x0.7x
Wed, 03 Jul 2024SEK 188.3bSEK 238.3bSEK 18.3b12.5x10.3x0.8x
Fri, 31 May 2024SEK 198.2bSEK 238.3bSEK 18.4b13.1x10.8x0.8x
Sun, 28 Apr 2024SEK 195.3bSEK 238.4bSEK 18.4b13.9x10.6x0.8x
Tue, 26 Mar 2024SEK 197.3bSEK 246.0bSEK 21.5b12x9.2x0.8x
Thu, 22 Feb 2024SEK 189.3bSEK 246.0bSEK 21.5b10.9x8.8x0.8x
Sat, 20 Jan 2024SEK 180.2bSEK 253.1b-SEK 9,790,391,675.0012x-18.4x0.7x
Mon, 18 Dec 2023SEK 199.8bSEK 253.1b-SEK 9,786,221,083.0012.6x-20.4x0.8x
Wed, 15 Nov 2023SEK 187.5bSEK 253.3b-SEK 9,861,829,978.0012.7x-19x0.7x
Fri, 13 Oct 2023SEK 178.0bSEK 255.8b-SEK 7,486,078,051.0012.3x-23.8x0.7x
Sun, 10 Sep 2023SEK 171.4bSEK 255.9b-SEK 7,487,339,703.0013x-22.9x0.7x
Tue, 08 Aug 2023SEK 176.2bSEK 255.7b-SEK 7,554,825,154.0013.5x-23.3x0.7x
Thu, 06 Jul 2023SEK 191.6bSEK 262.7b-SEK 423,931,617.0011.2x-452x0.7x
Sat, 03 Jun 2023SEK 201.2bSEK 262.7b-SEK 413,920,848.0013x-486.1x0.8x
Mon, 01 May 2023SEK 202.1bSEK 262.6b-SEK 328,970,206.0011.3x-614.4x0.8x
Wed, 29 Mar 2023SEK 208.6bSEK 263.2bSEK 3.2b9.4x65.7x0.8x
Price to Earnings Ratio

65.7x


Total Market Cap: SEK 208.6bTotal Earnings: SEK 3.2bTotal Revenue: SEK 263.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Metals and Mining Industry Price to Earnings3Y Average -32.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish 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 16.4x which is higher than its 3-year average PE of -32.9x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 71% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.9% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Swedish Materials industry?

SE Market-4.91%
Materials-8.13%
Metals and Mining-10.13%
Precious Metals and Minerals3.93%
Gold0%0
Steel-3.89%
Aluminum-7.95%
Silver-13.04%
Diversified Metals and Mining-13.36%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 12.8x.
    • Analysts are expecting annual earnings growth of 17.4%, which is higher than its past year's earnings decline of 6.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 6.2% per year.
  • In contrast, the Silver industry is expected to see its earnings grow by 11% 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
DRIL DrillconSEK 4.460.9%
+SEK 1.8m		-18.3%PE4626x
AFRI Africa ResourcesSEK 0.453.9%
+SEK 196.4k		-14.3%PS1.9x

Latest News

BOL
SEK 540.00
Boliden
7D
-13.4%
1Y
50.8%

BOL: Future Ronnskar Restart And Gold Exposure Will Drive Re Rating

Boliden's analyst fair value estimate has been raised from SEK 550 to SEK 770. This reflects higher price targets across several firms as analysts factor in stronger revenue growth assumptions, adjusted profit expectations and slightly lower future P/E multiples, alongside recent target increases from banks such as Morgan Stanley, JPMorgan, Citi, Deutsche Bank, RBC Capital, Danske Bank, Kepler Cheuvreux and Barclays.
ALLEI
SEK 72.55
Alleima
7D
-2.1%
1Y
-18.4%

ALLEI: Downgrade And Dividend Plans Will Shape Balanced Near Term Outlook

Analysts have nudged their Alleima price target to SEK 75, reflecting a slightly lower discount rate and marginally adjusted long term assumptions, as some have turned more cautious on the shares following Danske Bank’s downgrade. Analyst Commentary Bullish Takeaways Bullish analysts view the SEK 75 target as consistent with a more balanced risk reward, suggesting the current valuation already reflects a degree of caution after the downgrade.
SSAB A
SEK 67.54
SSAB
7D
-4.4%
1Y
-4.6%
VISC
SEK 13.64
Gruvaktiebolaget Viscaria
7D
-14.0%
1Y
-32.3%
GRNG
SEK 138.50
Gränges
7D
-8.3%
1Y
6.7%

GRNG: Higher Dividend Proposal Will Support Attractive Risk Reward Profile

Analysts have maintained their fair value estimate for Gränges at SEK171.67 per share. Only minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions have been made in this narrative update.
GRANGX
SEK 62.50
Grangex
7D
-7.3%
1Y
580.1%
ARCT
SEK 6.10
Arctic Minerals
7D
-10.3%
1Y
85.1%
SOSI
SEK 3.50
Sotkamo Silver
7D
-13.0%
1Y
211.9%

Investment Case: Sotkamo Silver (SOSI)

Investment Case: Sotkamo Silver (SOSI) Scenario: Structural Bull Market & The Path to $100 Silver Executive Summary: The "Deep Value" Case While many investors still view Sotkamo Silver through the lens of its past liquidity struggles, the current market environment has fundamentally changed the math. With silver currently trading at $77–$78/oz , the company is no longer just surviving—it is entering a phase of explosive profitability that the market has yet to price in.
DRIL
SEK 4.46
Drillcon
7D
0.9%
1Y
-18.3%
AFRI
SEK 0.45
Africa Resources
7D
3.9%
1Y
-14.3%