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U.S. Gold Industry Analysis

UpdatedDec 22, 2025
DataAggregated Company Financials
Companies80
  • 7D2.9%
  • 3M15.9%
  • 1Y154.2%
  • YTDn/a

Over the last 7 days, the Gold industry has risen 2.9%, driven by gains from Agnico Eagle Mines of 3.5%. This takes the industry's 12 month performance to a gain of 154%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Dec 2025US$292.1bUS$46.4bUS$14.2b19.8x20.6x6.3x
Thu, 20 Nov 2025US$259.2bUS$46.4bUS$14.2b19.2x18.3x5.6x
Sat, 18 Oct 2025US$286.1bUS$43.1bUS$12.1b28.4x23.7x6.6x
Mon, 15 Sep 2025US$230.5bUS$42.4bUS$12.2b26x19x5.4x
Wed, 13 Aug 2025US$200.1bUS$42.4bUS$12.1b16x16.5x4.7x
Fri, 11 Jul 2025US$173.0bUS$39.3bUS$9.7b16.4x17.8x4.4x
Sun, 08 Jun 2025US$166.2bUS$39.3bUS$9.7b15.6x17.1x4.2x
Tue, 06 May 2025US$155.3bUS$38.2bUS$9.1b17.8x17.1x4.1x
Thu, 03 Apr 2025US$149.3bUS$36.6bUS$6.9b17.8x21.6x4.1x
Sat, 01 Mar 2025US$128.8bUS$36.6bUS$7.0b14.8x18.4x3.5x
Mon, 27 Jan 2025US$124.3bUS$33.8bUS$952.8m22.6x130.5x3.7x
Wed, 25 Dec 2024US$111.5bUS$33.7bUS$950.3m20.3x117.3x3.3x
Fri, 22 Nov 2024US$118.6bUS$33.8bUS$936.5m21x126.6x3.5x
Sun, 20 Oct 2024US$141.4bUS$30.8b-US$1,003,819,193.0528x-140.9x4.6x
Tue, 17 Sep 2024US$133.9bUS$30.5b-US$1,013,209,840.4728.3x-132.1x4.4x
Thu, 15 Aug 2024US$125.5bUS$30.5b-US$1,008,858,593.9422.8x-124.4x4.1x
Sat, 13 Jul 2024US$122.8bUS$27.8b-US$2,338,045,369.4335.5x-52.5x4.4x
Mon, 10 Jun 2024US$105.4bUS$27.8b-US$2,341,328,354.6232x-45x3.8x
Wed, 08 May 2024US$107.9bUS$27.8b-US$2,345,621,397.2522.4x-46x3.9x
Fri, 05 Apr 2024US$101.2bUS$26.1b-US$684,770,593.9313x-147.7x3.9x
Sun, 03 Mar 2024US$84.2bUS$26.0b-US$635,338,316.0217.2x-132.5x3.2x
Tue, 30 Jan 2024US$87.4bUS$27.9bUS$1.9b11.8x46.2x3.1x
Thu, 28 Dec 2023US$103.2bUS$28.1bUS$1.9b11.5x55.5x3.7x
Sat, 25 Nov 2023US$90.1bUS$28.1bUS$1.9b11x48x3.2x
Mon, 23 Oct 2023US$77.7bUS$28.0bUS$1.8b11.9x44x2.8x
Wed, 20 Sep 2023US$70.6bUS$23.2bUS$1.2b11.5x58.5x3x
Fri, 18 Aug 2023US$65.9bUS$20.4bUS$1.5b12.7x44.4x3.2x
Sun, 16 Jul 2023US$76.1bUS$20.7bUS$1.6b31.1x46.3x3.7x
Tue, 13 Jun 2023US$72.4bUS$20.7bUS$1.7b26x42.6x3.5x
Thu, 11 May 2023US$82.8bUS$20.7bUS$1.7b14.9x47.5x4x
Sat, 08 Apr 2023US$83.0bUS$20.9bUS$220.5m16.8x376.3x4x
Mon, 06 Mar 2023US$71.0bUS$21.0bUS$193.1m10x367.9x3.4x
Wed, 01 Feb 2023US$82.3bUS$20.7bUS$1.4b11.5x56.8x4x
Fri, 30 Dec 2022US$74.4bUS$20.7bUS$1.5b12.2x51.2x3.6x
Price to Earnings Ratio

51.2x


Total Market Cap: US$74.4bTotal Earnings: US$1.5bTotal Revenue: US$20.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Gold Industry Price to Earnings3Y Average 31.6x202320242025
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 20.6x which is lower than its 3-year average PE of 31.6x.
  • The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 6.3x.
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 Market0.26%
Materials0.70%
Metals and Mining2.16%
Gold2.92%
Aluminum10.67%
Silver4.24%
Diversified Metals and Mining3.24%
Copper1.32%
Steel-0.17%
Precious Metals and Minerals-3.32%
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
AEM Agnico Eagle MinesUS$174.213.5%
+US$2.9b		121.0%PE25.4x
NEM NewmontUS$101.291.6%
+US$1.7b		165.4%PE15.4x
RGLD Royal GoldUS$227.645.4%
+US$982.4m		71.1%PE40x
AU AngloGold AshantiUS$86.202.2%
+US$954.2m		264.3%PE19.3x
CDE Coeur MiningUS$18.257.9%
+US$860.6m		212.0%PE28.7x

Latest News

NEM
US$101.29
Newmont
7D
1.6%
1Y
165.4%

NEM: Future Barrick Dealmaking Will Likely Erode Already Stretched Share Pricing

The analyst price target for Newmont has been raised significantly, from approximately $58 to about $78 per share, as analysts factor in higher expected gold prices, improved profitability, and valuation upside relative to peers. Analyst Commentary Recent Street research on Newmont reflects a broadly constructive stance, with multiple firms lifting price targets and upgrading the stock on expectations of stronger gold prices, improving free cash flow, and valuation upside relative to peers.
HYMC
US$16.42
Hycroft Mining Holding
7D
25.6%
1Y
708.9%
RGLD
US$227.64
Royal Gold
7D
5.4%
1Y
71.1%

RGLD: Recent Acquisitions Will Drive Stronger Returns Amid Precious Metals Rally

Analysts lifted their price target on Royal Gold to approximately $254 per share, an increase of about $5, citing stronger expected revenue growth, expanding profit margins, and improved portfolio diversification following recent acquisitions despite a still challenging macro backdrop. Analyst Commentary Recent Street research on Royal Gold reflects a generally positive reassessment of the companys growth profile and earnings power, tempered by lingering concerns around the macro environment and valuation risk.
BVN
US$28.35
Compañía de Minas BuenaventuraA
7D
2.3%
1Y
129.0%
CDE
US$18.25
Coeur Mining
7D
7.9%
1Y
212.0%

CDE: Diversified Mines And Exploration Success Will Drive Future Upside Potential

Analysts have nudged their average price target on Coeur Mining modestly higher to reflect stronger valuation multiples and solid growth prospects highlighted in recent research, even as some now view the stock as fairly valued following its sharp rally. Analyst Commentary Recent Street research presents a more balanced picture on Coeur Mining, with some bullish analysts still highlighting attractive growth and asset quality, while more cautious voices focus on valuation after the stock's strong run.
AU
US$86.20
AngloGold Ashanti
7D
2.2%
1Y
264.3%

AU: Rising Gold Output Will Likely Fail To Justify Current Share Price

Analysts have significantly raised their price target for AngloGold Ashanti from approximately $38 to about $67 per share, citing expectations for stronger revenue growth, improved profit margins, a slightly higher required return, and a modestly lower future earnings multiple. What's in the News AngloGold Ashanti increased its interim dividend to 91 US cents per share for the three months ended 30 September 2025, indicating confidence in cash generation and balance sheet strength (Key Developments).
AUGO
US$50.04
Aura Minerals
7D
7.0%
1Y
319.4%
AEM
US$174.21
Agnico Eagle Mines
7D
3.5%
1Y
121.0%

AEM: Geopolitical Uncertainty And Gold Rally Will Drive Future Upside

Analysts have nudged their price target for Agnico Eagle Mines higher, reflecting an improved fair value estimate of about $195 per share. This is driven by more constructive assumptions on revenue growth, margins, and sustained support from higher gold price forecasts and sector tailwinds.
BGL
US$2.95
Blue Gold
7D
-1.7%
1Y
n/a
NAMM
US$1.04
Namib Minerals
7D
-7.1%
1Y
-90.2%
AUST
US$1.77
Austin Gold
7D
-1.1%
1Y
42.7%
VGZ
US$2.10
Vista Gold
7D
-3.7%
1Y
266.6%