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U.S. Gold Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies84
  • 7D4.1%
  • 3M30.9%
  • 1Y144.8%
  • YTDn/a

In the last week, the Gold industry is up 4.1%, with AngloGold Ashanti up 12%. Meanwhile, Hycroft Mining Holding actually underperformed within the industry, shrinking 7.4% in the last week. This means that the industry has gained 145% 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. Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026US$338.8bUS$46.4bUS$14.2b22.4x23.9x7.3x
Tue, 06 Jan 2026US$298.4bUS$46.4bUS$14.2b19.9x21.1x6.4x
Thu, 04 Dec 2025US$270.9bUS$46.4bUS$14.1b18.8x19.1x5.8x
Sat, 01 Nov 2025US$247.8bUS$45.2bUS$13.7b23.4x18.1x5.5x
Mon, 29 Sep 2025US$250.8bUS$43.4bUS$12.1b23.4x20.7x5.8x
Wed, 27 Aug 2025US$202.8bUS$42.4bUS$12.2b23.7x16.7x4.8x
Fri, 25 Jul 2025US$182.2bUS$39.3bUS$9.7b17.7x18.7x4.6x
Sun, 22 Jun 2025US$176.1bUS$39.3bUS$9.7b16x18.1x4.5x
Tue, 20 May 2025US$183.4bUS$52.6bUS$12.0b14x15.2x3.5x
Thu, 17 Apr 2025US$167.6bUS$36.6bUS$6.9b21.1x24.3x4.6x
Sat, 15 Mar 2025US$140.1bUS$36.6bUS$7.0b16.2x19.9x3.8x
Mon, 10 Feb 2025US$134.0bUS$33.8bUS$952.6m24.3x140.7x4x
Wed, 08 Jan 2025US$111.2bUS$33.7bUS$950.3m20.4x117x3.3x
Fri, 06 Dec 2024US$118.7bUS$33.8bUS$952.3m20.1x124.7x3.5x
Sun, 03 Nov 2024US$124.3bUS$33.5bUS$371.5m22.2x334.4x3.7x
Tue, 01 Oct 2024US$133.0bUS$30.8b-US$1,002,807,798.2725.4x-132.7x4.3x
Thu, 29 Aug 2024US$132.5bUS$30.5b-US$1,015,483,853.3826.8x-130.5x4.3x
Sat, 27 Jul 2024US$118.7bUS$29.5b-US$1,654,222,947.2432.7x-71.7x4x
Mon, 24 Jun 2024US$109.1bUS$27.8b-US$2,337,973,513.9928.9x-46.7x3.9x
Wed, 22 May 2024US$116.3bUS$27.8b-US$2,338,234,664.4831.2x-49.7x4.2x
Fri, 19 Apr 2024US$102.8bUS$26.1b-US$696,704,671.1613.4x-147.6x3.9x
Sun, 17 Mar 2024US$92.2bUS$26.0b-US$399,893,951.3814.3x-230.5x3.5x
Tue, 13 Feb 2024US$84.4bUS$24.8bUS$1.7b16.7x48.3x3.4x
Thu, 11 Jan 2024US$94.6bUS$27.9bUS$1.9b10.7x50.1x3.4x
Sat, 09 Dec 2023US$94.5bUS$28.1bUS$1.9b10.8x50.8x3.4x
Mon, 06 Nov 2023US$77.5bUS$28.1bUS$1.8b11.1x42.6x2.8x
Wed, 04 Oct 2023US$70.7bUS$28.0bUS$1.8b10.3x40.2x2.5x
Fri, 01 Sep 2023US$68.7bUS$20.4bUS$1.5b13x45.9x3.4x
Sun, 30 Jul 2023US$72.6bUS$20.5bUS$1.5b20.7x49.1x3.5x
Tue, 27 Jun 2023US$71.7bUS$20.7bUS$1.6b29x43.7x3.5x
Thu, 25 May 2023US$73.0bUS$20.7bUS$1.7b28.1x43.1x3.5x
Sat, 22 Apr 2023US$80.5bUS$20.9bUS$220.2m15.5x365.3x3.8x
Mon, 20 Mar 2023US$75.7bUS$20.9bUS$169.6m11.4x446.3x3.6x
Wed, 15 Feb 2023US$74.5bUS$20.7bUS$1.5b11.2x50.7x3.6x
Price to Earnings Ratio

50.7x


Total Market Cap: US$74.5bTotal Earnings: US$1.5bTotal Revenue: US$20.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Gold Industry Price to Earnings3Y Average 30.2x202420252026
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 23.9x which is lower than its 3-year average PE of 30.2x.
  • The 3-year average PS ratio of 4.1x is lower than the industry's current PS ratio of 7.3x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 113% 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-0.071%
Materials4.13%
Metals and Mining4.38%
Gold4.15%
Steel7.62%
Aluminum7.62%
Copper3.55%
Silver1.14%
Diversified Metals and Mining0.18%
Precious Metals and Minerals-9.09%
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
AU AngloGold AshantiUS$103.9511.9%
+US$5.6b		230.7%PE23.3x
NEM NewmontUS$115.322.6%
+US$3.2b		157.2%PE17.5x
AEM Agnico Eagle MinesUS$196.603.2%
+US$3.1b		99.9%PE28.6x
BVN Compañía de Minas BuenaventuraAUS$36.957.9%
+US$683.2m		183.1%PE21.6x
CDE Coeur MiningUS$21.444.9%
+US$642.1m		209.8%PE33.7x

Latest News

HYMC
US$34.59
Hycroft Mining Holding
7D
-7.4%
1Y
1,256.5%
NEM
US$115.32
Newmont
7D
2.6%
1Y
157.2%

NEM: Moderating Gold Prices And Execution Risks Will Likely Pressure Stretched Shares

Analysts have lifted their consolidated price target for Newmont by roughly US$35, reflecting refreshed views on guidance, commodity price assumptions and production expectations highlighted in recent research updates. Analyst Commentary Recent research has centered on refreshed price targets and updated views on Newmont's guidance, commodity assumptions and production outlook.
AUST
US$1.86
Austin Gold
7D
-9.3%
1Y
30.1%
BVN
US$36.95
Compañía de Minas BuenaventuraA
7D
7.9%
1Y
183.1%

BVN: Future Returns Will Depend On Executing High Upfront Capital Mining Plans

Analysts have nudged their price target on Compañía de Minas Buenaventura A higher to about $30.92 from roughly $28.42. They cited updated assumptions around fair value, discount rate, revenue growth, profit margins and future P/E following recent research commentary on the company’s production and capital plans.
DRD
US$32.98
DRDGOLD
7D
3.6%
1Y
196.8%
AEM
US$196.60
Agnico Eagle Mines
7D
3.2%
1Y
99.9%
CDE
US$21.44
Coeur Mining
7D
4.9%
1Y
209.8%

CDE: Expanded Share Authorization And Major Exploration Program Will Support Upside Potential

Analysts have raised their fair value estimate for Coeur Mining from about US$22.58 to roughly US$25.42 per share, based on updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Stockholders approved an amendment to Coeur Mining’s Certificate of Incorporation to increase authorized common shares from 900,000,000 to 1,300,000,000 at a special meeting held on January 27, 2026 (Key Developments).
AU
US$103.95
AngloGold Ashanti
7D
11.9%
1Y
230.7%

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).
RGLD
US$265.77
Royal Gold
7D
0.9%
1Y
83.9%

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?
GROY
US$4.22
Gold Royalty
7D
-1.4%
1Y
187.1%

GROY: Equity Raise And Lockup Will Support Future Multiple Expansion

Analysts have raised their price target on Gold Royalty by approximately $0.64 to $5.75, citing updated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E that incorporate recent research views, which they describe as mixed but generally constructive. Analyst Commentary Recent research on Gold Royalty has been mixed, with some analysts lifting their price targets and others turning more cautious on the shares.
AUGO
US$65.99
Aura Minerals
7D
3.6%
1Y
360.5%
BGL
US$2.30
Blue Gold
7D
-20.1%
1Y
n/a
NAMM
US$3.21
Namib Minerals
7D
-12.8%
1Y
-70.1%