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U.S. Gold Industry Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies83
  • 7D-8.7%
  • 3M40.8%
  • 1Y151.8%
  • YTDn/a

Over the last 7 days, the Gold industry has dropped 8.7%, driven by pullbacks in Newmont and Agnico Eagle Mines of 7.8% and 8.7%, respectively. Meanwhile, Paramount Gold Nevada actually outperformed within the industry, gaining 25% in the last week. This takes the industry's 12 month performance to a gain of 152%. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

Has the U.S. Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026US$326.7bUS$46.4bUS$14.2b22x23.1x7x
Sat, 03 Jan 2026US$287.5bUS$46.4bUS$14.2b19.2x20.3x6.2x
Mon, 01 Dec 2025US$275.4bUS$46.4bUS$14.2b19.6x19.5x5.9x
Wed, 29 Oct 2025US$236.8bUS$44.0bUS$13.1b26.6x18.1x5.4x
Fri, 26 Sep 2025US$239.8bUS$42.7bUS$12.2b22.8x19.7x5.6x
Sun, 24 Aug 2025US$202.7bUS$42.4bUS$12.2b23.3x16.6x4.8x
Tue, 22 Jul 2025US$172.2bUS$39.3bUS$9.7b17.7x17.7x4.4x
Thu, 19 Jun 2025US$177.3bUS$39.3bUS$9.7b16.4x18.3x4.5x
Sat, 17 May 2025US$183.0bUS$52.6bUS$12.0b13.2x15.2x3.5x
Mon, 14 Apr 2025US$165.4bUS$36.6bUS$6.9b20.2x24x4.5x
Wed, 12 Mar 2025US$131.5bUS$36.6bUS$7.0b15.5x18.7x3.6x
Fri, 07 Feb 2025US$134.7bUS$33.8bUS$952.6m24.8x141.4x4x
Sun, 05 Jan 2025US$112.6bUS$33.7bUS$950.3m20.4x118.5x3.3x
Tue, 03 Dec 2024US$118.2bUS$33.8bUS$951.9m19.9x124.1x3.5x
Thu, 31 Oct 2024US$130.6bUS$32.9b-US$288,027,266.7426.2x-453.5x4x
Sat, 28 Sep 2024US$137.3bUS$30.8b-US$1,001,978,692.5125.5x-137x4.5x
Mon, 26 Aug 2024US$132.3bUS$30.5b-US$1,014,881,642.0927.6x-130.3x4.3x
Wed, 24 Jul 2024US$122.3bUS$27.8b-US$2,339,790,548.5734.5x-52.3x4.4x
Fri, 21 Jun 2024US$107.5bUS$27.8b-US$2,338,035,719.1033.2x-46x3.9x
Sun, 19 May 2024US$114.6bUS$27.8b-US$2,334,255,514.2230.6x-49.1x4.1x
Tue, 16 Apr 2024US$102.0bUS$26.1b-US$685,325,973.1013.3x-148.9x3.9x
Thu, 14 Mar 2024US$91.8bUS$26.1b-US$459,697,193.7914.4x-199.7x3.5x
Sat, 10 Feb 2024US$83.1bUS$24.8bUS$1.7b15.9x48.1x3.3x
Mon, 08 Jan 2024US$96.3bUS$27.9bUS$1.9b10.4x51x3.4x
Wed, 06 Dec 2023US$96.5bUS$28.1bUS$1.9b11.1x51.9x3.4x
Fri, 03 Nov 2023US$73.5bUS$28.1bUS$1.8b10.4x40.4x2.6x
Sun, 01 Oct 2023US$72.3bUS$28.0bUS$1.8b10.6x41.1x2.6x
Tue, 29 Aug 2023US$67.0bUS$20.4bUS$1.5b13x44.7x3.3x
Thu, 27 Jul 2023US$75.0bUS$20.3bUS$1.4b31.3x53.1x3.7x
Sat, 24 Jun 2023US$70.6bUS$20.7bUS$1.6b29x43.1x3.4x
Mon, 22 May 2023US$75.9bUS$20.7bUS$1.7b28.2x45.3x3.7x
Wed, 19 Apr 2023US$82.9bUS$20.9bUS$218.9m16.2x378.5x4x
Fri, 17 Mar 2023US$71.8bUS$20.9bUS$170.3m10.5x421.8x3.4x
Sun, 12 Feb 2023US$75.3bUS$20.7bUS$1.4b11.5x52x3.6x
Price to Earnings Ratio

52x


Total Market Cap: US$75.3bTotal Earnings: US$1.4bTotal Revenue: US$20.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Gold Industry Price to Earnings3Y Average 30.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Gold 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 23.1x which is lower than its 3-year average PE of 30.3x.
  • The 3-year average PS ratio of 4.1x is lower than the industry's current PS ratio of 7.0x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 114% per year over the last three years.
  • Revenues for these companies have grown 31% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Gold compare with similar industries?

US Market-1.35%
Materials0.43%
Metals and Mining-1.25%
Gold-8.70%
Copper7.70%
Steel5.51%
Aluminum4.78%
Diversified Metals and Mining-3.22%
Precious Metals and Minerals-13.01%
Silver-17.08%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PZG Paramount Gold NevadaUS$2.0815.6%
+US$21.9m		447.1%PB5.2x

Latest News

PZG
US$2.08
Paramount Gold Nevada
7D
15.6%
1Y
447.1%
AEM
US$198.54
Agnico Eagle Mines
7D
-11.0%
1Y
101.4%

AEM: Rising Earnings Power And Clean Energy Partnership Will Shape Bullish Outlook

Analysts have lifted their price targets on Agnico Eagle Mines, supporting an updated fair value estimate of $221.67 as they factor in refreshed assumptions around discount rate, revenue growth, profit margin and future P/E multiples. Analyst Commentary Recent Street research on Agnico Eagle Mines centers on higher price targets and fresh coverage, which feed directly into how you might think about valuation, execution risk and growth expectations embedded in the updated fair value estimate of $221.67.
AU
US$100.87
AngloGold Ashanti
7D
-12.8%
1Y
215.4%

AU: Rising Output And Dividend Will Support A Stronger Outlook

Analysts have made a small upward revision to their price target for AngloGold Ashanti to $132 from $131, reflecting slightly higher assumptions for revenue growth, profit margins, and the P/E they are prepared to use in their models. What's in the News AngloGold Ashanti plc declared an interim dividend of US$0.91 per share for the three months ended 30 September 2025, with the ex dividend and record date on the NYSE set for Friday, 28 November 2025, and payment scheduled for Friday, 12 December 2025 (company announcement).
CDE
US$21.26
Coeur Mining
7D
-17.3%
1Y
207.2%
BVN
US$36.55
Compañía de Minas BuenaventuraA
7D
-6.3%
1Y
176.9%

San Gabriel Ramp Up And New Permits Will Transform Long Term Earnings Power

Catalysts About Compañía de Minas BuenaventuraA Compañía de Minas BuenaventuraA is a precious and base metals producer with a portfolio that includes gold, silver and copper assets, as well as interests in development projects. What are the underlying business or industry changes driving this perspective?
RGLD
US$265.17
Royal Gold
7D
-9.7%
1Y
86.7%

Copper Growth Projects And Extended Mount Milligan Life Will Transform Long Term Cash Flows

Catalysts About Royal Gold Royal Gold is a precious metals royalty and streaming company with a portfolio focused on gold, silver and copper interests across producing and development assets. What are the underlying business or industry changes driving this perspective?
NEM
US$116.85
Newmont
7D
-11.4%
1Y
159.9%

NEM: Future Barrick Nevada Deal Pursuit Will Likely Pressure Stretched Shares

Narrative Update on Newmont Analysts have lifted their implied price target on Newmont by about US$7 per share, reflecting updated views on fair value, refreshed commodity price assumptions, and company guidance that points to revenue growth, a different profit margin profile, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research on Newmont has centered on refreshed commodity price assumptions, updated company guidance, and how those factors flow through to valuation.
DRD
US$32.71
DRDGOLD
7D
-14.6%
1Y
202.3%
HYMC
US$39.31
Hycroft Mining Holding
7D
-24.0%
1Y
1,417.8%