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U.S. Metals and Mining Industry Analysis

UpdatedSep 01, 2025
DataAggregated Company Financials
Companies249
  • 7D2.1%
  • 3M17.6%
  • 1Y23.1%
  • YTD39.0%

Over the last 7 days, the Metals and Mining industry has risen 2.3%, driven by gains in Newmont and Agnico Eagle Mines of 5.1% and 5.0%, respectively. This means that the industry has gained 23% over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 01 Sep 2025US$519.7bUS$244.5bUS$20.3b22.9x25.6x2.1x
Wed, 30 Jul 2025US$479.1bUS$243.1bUS$18.6b21.7x25.8x2x
Fri, 27 Jun 2025US$451.3bUS$243.8bUS$17.7b22.1x25.5x1.9x
Sun, 25 May 2025US$435.0bUS$259.1bUS$17.8b20.1x24.4x1.7x
Tue, 22 Apr 2025US$423.2bUS$263.8bUS$18.0b20.7x23.6x1.6x
Thu, 20 Mar 2025US$435.9bUS$263.1bUS$17.1b24.4x25.5x1.7x
Sat, 15 Feb 2025US$436.0bUS$263.1bUS$12.8b21.6x34.1x1.7x
Mon, 13 Jan 2025US$397.8bUS$265.6bUS$12.1b15.2x32.8x1.5x
Wed, 11 Dec 2024US$442.2bUS$266.1bUS$12.5b19.6x35.5x1.7x
Fri, 08 Nov 2024US$464.6bUS$267.1bUS$12.0b19.5x38.6x1.7x
Sun, 06 Oct 2024US$466.2bUS$267.5bUS$11.3b14.1x41.3x1.7x
Tue, 03 Sep 2024US$440.8bUS$267.4bUS$11.4b13.8x38.8x1.6x
Thu, 01 Aug 2024US$451.0bUS$267.0bUS$11.4b14.9x39.5x1.7x
Sat, 29 Jun 2024US$430.1bUS$266.4bUS$13.0b13.3x33.2x1.6x
Mon, 27 May 2024US$459.5bUS$266.9bUS$13.0b14.8x35.3x1.7x
Wed, 24 Apr 2024US$434.8bUS$265.3bUS$15.3b13.6x28.4x1.6x
Fri, 22 Mar 2024US$424.1bUS$266.5bUS$15.6b14.3x27.1x1.6x
Sun, 18 Feb 2024US$385.3bUS$264.8bUS$17.2b16.1x22.4x1.5x
Tue, 16 Jan 2024US$394.1bUS$278.2bUS$19.4b17.2x20.3x1.4x
Thu, 14 Dec 2023US$367.2bUS$278.7bUS$19.8b15.5x18.6x1.3x
Sat, 11 Nov 2023US$343.3bUS$279.7bUS$20.0b13.9x17.2x1.2x
Mon, 09 Oct 2023US$345.4bUS$283.5bUS$21.9b11.3x15.8x1.2x
Wed, 06 Sep 2023US$360.1bUS$279.1bUS$21.4b12.5x16.9x1.3x
Fri, 04 Aug 2023US$369.7bUS$278.2bUS$22.5b14x16.4x1.3x
Sun, 02 Jul 2023US$352.0bUS$284.1bUS$26.0b13x13.5x1.2x
Tue, 30 May 2023US$322.0bUS$284.6bUS$26.3b13.1x12.2x1.1x
Thu, 27 Apr 2023US$345.5bUS$287.6bUS$26.5b11.1x13x1.2x
Sat, 25 Mar 2023US$347.2bUS$293.0bUS$30.6b10.4x11.3x1.2x
Mon, 20 Feb 2023US$365.6bUS$294.3bUS$33.2b8.1x11x1.2x
Wed, 18 Jan 2023US$370.4bUS$298.6bUS$37.9b7.5x9.8x1.2x
Fri, 16 Dec 2022US$319.6bUS$298.2bUS$38.0b6.4x8.4x1.1x
Sun, 13 Nov 2022US$324.3bUS$297.7bUS$37.8b6.3x8.6x1.1x
Tue, 11 Oct 2022US$275.6bUS$297.0bUS$44.3b6.7x6.2x0.9x
Thu, 08 Sep 2022US$280.4bUS$296.7bUS$44.5b6.5x6.3x0.9x
Price to Earnings Ratio

6.3x


Total Market Cap: US$280.4bTotal Earnings: US$44.5bTotal Revenue: US$296.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 22.3x202320242025
Current Industry PE
  • Investors are optimistic on the American Metals and Mining industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 25.6x which is higher than its 3-year average PE of 22.3x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 23% per year over the last three years,
  • Revenues have also declined 6.2% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

US Market0.46%
Materials0.70%
Metals and Mining2.14%
Precious Metals and Minerals13.35%
Silver8.11%
Gold4.89%
Aluminum0.89%
Copper0.61%
Steel-0.21%
Diversified Metals and Mining-0.86%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 17.3% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 60% over the next 5 years.
  • This is better than its past earnings growth rate of 2.5% per year.
  • In contrast, the Gold industry is expected to see its earnings grow by 3.2% 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
AEM Agnico Eagle MinesUS$144.175.5%
+US$3.8b		77.0%PE24.5x
NEM NewmontUS$74.404.6%
+US$3.6b		39.4%PE13.1x
AU AngloGold AshantiUS$56.664.1%
+US$1.1b		91.0%PE15.8x
FCX Freeport-McMoRanUS$44.401.6%
+US$1.0b		0.3%PE33.2x
CDE Coeur MiningUS$13.158.3%
+US$649.1m		114.2%PE44.3x

Latest News

MP
US$71.14
MP Materials
7D
-1.6%
1Y
451.5%
RGLD
US$179.58
Royal Gold
7D
2.9%
1Y
28.1%

Kansanshi And Warintza Projects Will Drive Future Stability

Royal Gold's fair value estimate saw a marginal increase, as reflected by the slight uptick in both the consensus analyst price target and future P/E, while key valuation inputs such as the discount rate remained essentially unchanged. What's in the News The White House intends to issue a new policy clarifying that imports of gold bars will not face tariffs, addressing recent confusion among traders (Bloomberg).
AEM
US$144.17
Agnico Eagle Mines
7D
5.5%
1Y
77.0%

Elevated Gold Prices And Reserve Expansion Will Energize Mining Operations

Agnico Eagle Mines’ consensus analyst price target rose to $143.98 on the back of higher 2027 EPS forecasts from the inclusion of the Upper Beaver project, sector-leading execution, and a robust growth pipeline. Analyst Commentary Inclusion of the Upper Beaver project in forecasts, leading to higher 2027 EPS estimates.
CMC
US$57.67
Commercial Metals
7D
-0.6%
1Y
7.6%

TAG Program And Arizona 2 Will Drive Future Expansion

The fair value estimate for Commercial Metals has edged up as analysts factor in a modest increase in the company's forward P/E multiple, with the consensus price target rising slightly from $56.75 to $57.75. What's in the News Repurchased 1,113,014 shares (0.98%) for $50.4 million between March 1 and May 31, 2025.
NEM
US$74.40
Newmont
7D
4.6%
1Y
39.4%
NUE
US$148.73
Nucor
7D
-0.5%
1Y
-2.1%
CRS
US$240.88
Carpenter Technology
7D
-0.3%
1Y
66.4%
STLD
US$130.92
Steel Dynamics
7D
-1.8%
1Y
9.5%
AU
US$56.66
AngloGold Ashanti
7D
4.1%
1Y
91.0%
HL
US$8.51
Hecla Mining
7D
8.3%
1Y
43.5%

Accelerating Silver Demand Will Fuel Keno Hill Production

The modest increase in Hecla Mining’s future P/E ratio, indicative of higher expected earnings growth or increased investor optimism, underpins the slight upward revision in its consensus analyst price target from $8.22 to $8.31. What's in the News Hecla Mining raised 2025 gold production guidance to 126.0–137.0 Koz from the prior 120–130 Koz; silver guidance remains at 15.5–17.0 Moz.
CDE
US$13.15
Coeur Mining
7D
8.3%
1Y
114.2%

Rochester And Las Chispas Projects Will Fuel Metal Demand

The slight increase in Coeur Mining's future P/E ratio suggests improved earnings expectations, supporting a higher consensus analyst price target, which has been raised from $12.19 to $12.58. What's in the News Q2 unaudited production rose to 108,487 gold ounces and 4.7 million silver ounces, up significantly year-over-year.
TX
US$33.16
Ternium
7D
-1.1%
1Y
-1.5%
SCCO
US$96.09
Southern Copper
7D
-0.9%
1Y
-2.3%
BVN
US$19.14
Compañía de Minas BuenaventuraA
7D
3.5%
1Y
54.4%
FCX
US$44.40
Freeport-McMoRan
7D
1.6%
1Y
0.3%
USAR
US$14.92
USA Rare Earth
7D
-5.7%
1Y
39.8%