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U.S. Metals and Mining Industry Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies269
  • 7D-0.7%
  • 3M-12.8%
  • 1Y45.4%
  • YTD4.9%

Over the last 7 days, the Metals and Mining industry has dropped 2.9%, driven by a pullback from Newmont of 2.4%. This takes the industry's 12 month performance to a gain of 42%. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the U.S. Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026US$693.0bUS$272.1bUS$32.7b17.3x21.2x2.5x
Fri, 19 Jun 2026US$805.6bUS$269.2bUS$32.5b18.1x24.8x3x
Sun, 17 May 2026US$782.2bUS$269.1bUS$32.4b21.3x24.1x2.9x
Tue, 14 Apr 2026US$830.7bUS$255.7bUS$25.6b23.1x32.5x3.2x
Thu, 12 Mar 2026US$820.8bUS$255.2bUS$25.7b22.5x31.9x3.2x
Sat, 07 Feb 2026US$774.0bUS$250.9bUS$23.7b26.8x32.7x3.1x
Mon, 05 Jan 2026US$677.0bUS$248.5bUS$22.5b24.8x30x2.7x
Wed, 03 Dec 2025US$621.8bUS$248.3bUS$22.6b22.4x27.6x2.5x
Fri, 31 Oct 2025US$585.6bUS$246.8bUS$22.6b24.3x25.9x2.4x
Sun, 28 Sep 2025US$563.8bUS$244.9bUS$20.3b23.8x27.7x2.3x
Tue, 26 Aug 2025US$508.6bUS$244.5bUS$20.3b23.1x25x2.1x
Thu, 24 Jul 2025US$491.3bUS$241.0bUS$17.6b23.4x28x2x
Sat, 21 Jun 2025US$452.6bUS$243.9bUS$17.8b21.2x25.5x1.9x
Mon, 19 May 2025US$453.9bUS$272.4bUS$20.2b20.5x22.5x1.7x
Wed, 16 Apr 2025US$423.7bUS$263.0bUS$17.2b21.5x24.7x1.6x
Fri, 14 Mar 2025US$410.2bUS$263.1bUS$17.2b22x23.8x1.6x
Sun, 09 Feb 2025US$421.2bUS$261.9bUS$11.5b20.7x36.6x1.6x
Tue, 07 Jan 2025US$388.9bUS$265.8bUS$12.1b15.5x32x1.5x
Thu, 05 Dec 2024US$444.3bUS$266.1bUS$12.5b19.4x35.6x1.7x
Sat, 02 Nov 2024US$443.4bUS$268.9bUS$11.7b15.4x37.8x1.6x
Mon, 30 Sep 2024US$472.0bUS$267.6bUS$11.3b14x41.8x1.8x
Wed, 28 Aug 2024US$446.8bUS$267.2bUS$11.4b13.7x39.1x1.7x
Fri, 26 Jul 2024US$437.5bUS$266.8bUS$12.8b12.8x34.1x1.6x
Sun, 23 Jun 2024US$434.4bUS$266.4bUS$13.0b13x33.5x1.6x
Tue, 21 May 2024US$474.1bUS$267.0bUS$13.0b14.5x36.4x1.8x
Thu, 18 Apr 2024US$450.6bUS$266.0bUS$15.6b13.8x28.8x1.7x
Sat, 16 Mar 2024US$407.3bUS$266.6bUS$16.0b14.1x25.5x1.5x
Mon, 12 Feb 2024US$377.2bUS$264.8bUS$18.2b16.3x20.7x1.4x
Wed, 10 Jan 2024US$397.7bUS$278.2bUS$19.4b17.6x20.5x1.4x
Fri, 08 Dec 2023US$368.4bUS$278.7bUS$19.8b15x18.6x1.3x
Sun, 05 Nov 2023US$348.2bUS$280.1bUS$20.1b13.6x17.3x1.2x
Tue, 03 Oct 2023US$350.8bUS$283.5bUS$21.9b11.6x16x1.2x
Thu, 31 Aug 2023US$361.7bUS$276.5bUS$21.7b13.8x16.7x1.3x
Sat, 29 Jul 2023US$371.7bUS$276.7bUS$22.0b13.9x16.9x1.3x
Price to Earnings Ratio

16.9x


Total Market Cap: US$371.7bTotal Earnings: US$22.0bTotal Revenue: US$276.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 27.7x202420252026
Current Industry PE
  • Investors are pessimistic on the American 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 21.5x which is lower than its 3-year average PE of 27.7x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 14% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Materials industry?

US Market-0.68%
Materials-1.03%
Metals and Mining-0.66%
Copper2.31%
Silver0.45%
Steel-0.66%
Gold-2.16%
Diversified Metals and Mining-4.97%
Aluminum-5.77%
Precious Metals and Minerals-10.75%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 26.1x.
    • Analysts expect its future annual earnings growth (22.9%) to be largely in line with prior year's earnings growth.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 34% over the next 5 years.
  • However this is lower than its past earnings growth rate of 93% per year.
  • In contrast, the Aluminum industry is expected to see its earnings grow by 7.6% 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
SCCO Southern CopperUS$188.013.1%
+US$4.7b		96.8%PE31.6x
FCX Freeport-McMoRanUS$62.561.0%
+US$876.9m		36.6%PE33x
SIND SindaUS$14.0011.1%
+US$208.5m		n/aPB79.7x
SSMR Sunshine Silver Mining & RefiningUS$14.169.3%
+US$172.5m		n/aPS4418.5x
CMC Commercial MetalsUS$67.702.3%
+US$167.0m		26.0%PE12.6x

Latest News

USAR
US$15.80
USA Rare Earth
7D
-13.1%
1Y
21.4%
Narrative Update • Jul 21

USAR: CHIPS Funding And New Leadership Will Drive Mine To Magnet Chain

Analysts now see fair value for USA Rare Earth at $30, down from $32. The change reflects updated sector valuation inputs along with continued confidence that new leadership and recently secured funding support the company’s mine to magnet build out.
MP
US$46.30
MP Materials
7D
-8.8%
1Y
-22.9%
BVN
US$31.25
Compañía de Minas BuenaventuraA
7D
0.7%
1Y
75.6%
Seeking Alpha • Jul 20

Buenaventura: Undervalued As Operations Expand

Summary Compania De Minas Buenaventura is rated a buy, supported by a strong balance sheet, undervaluation, and a resilient metals market outlook. BVN's operational flexibility, diverse metals portfolio, and successful deleveraging position it to absorb setbacks like San Gabriel’s ramp-up delays. Despite flatlining metal prices and operational hiccups, BVN maintains robust liquidity, a safe 3.75% dividend yield, and a P/E of 6.79—well below the sector median. My $39.75 target price reflects conservative EV/EBITDA multiples, balancing market hesitancy and ongoing expansion projects. Read the full article on Seeking Alpha
CDE
US$15.30
Coeur Mining
7D
-4.4%
1Y
59.9%
CLF
US$9.25
Cleveland-Cliffs
7D
-5.5%
1Y
-18.3%
AA
US$44.35
Alcoa
7D
-9.6%
1Y
38.9%
WS
US$35.81
Worthington Steel
7D
5.5%
1Y
12.3%
AU
US$78.50
AngloGold Ashanti
7D
-2.3%
1Y
51.2%
NEM
US$92.49
Newmont
7D
-2.4%
1Y
49.9%
CMC
US$67.70
Commercial Metals
7D
2.3%
1Y
26.0%
Narrative Update • Jul 15

CMC: Higher Margins And Buybacks Will Likely Support Upside From Here

Analysts have raised their fair value estimate for Commercial Metals to $75.00 from $68.00, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that collectively support a higher price target. What’s in the News for Commercial Metals Commercial Metals CEO Peter R.
AEM
US$141.62
Agnico Eagle Mines
7D
-1.9%
1Y
10.1%
Narrative Update • Jul 13

AEM: Barnat Production Disruption Will Ultimately Cap Upside Despite Rich Pipeline

The updated analyst price target for Agnico Eagle Mines reflects a lower fair value estimate of $118.47. Analysts cite reduced commodity price forecasts, production adjustments at Canadian Malartic, and expectations for mixed near term sector conditions.
SCCO
US$188.01
Southern Copper
7D
3.1%
1Y
96.8%
Narrative Update • Jul 09

SCCO: Valuation Premium Will Face Pressure From Expected Production Declines

Southern Copper's updated fair value estimate has been raised to $131.50 from $125.74 as analysts factor in recent price target hikes, a modestly lower assumed revenue decline, improved profit margin assumptions, and a slightly lower future P/E multiple for the stock. Analyst Commentary Recent Street research on Southern Copper shows a clear split between constructive long term views on copper and more cautious opinions on where the stock is currently trading.
FCX
US$62.56
Freeport-McMoRan
7D
1.0%
1Y
36.6%
RYZ
US$29.87
Ryerson Holding
7D
6.2%
1Y
25.7%
SIND
US$14.00
Sinda
7D
11.1%
1Y
n/a
SSMR
US$14.16
Sunshine Silver Mining & Refining
7D
9.3%
1Y
n/a