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U.S. Gold Industry Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies84
  • 7D8.3%
  • 3M42.4%
  • 1Y162.9%
  • YTDn/a

The Gold industry is up 8.3% in the last week, with Newmont up 4.2%. This takes the industry's 12 month performance to a gain of 163%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Feb 2026US$366.6bUS$47.8bUS$15.2b23.2x24.2x7.7x
Wed, 14 Jan 2026US$328.5bUS$46.4bUS$14.2b21.7x23.2x7.1x
Fri, 12 Dec 2025US$273.0bUS$46.4bUS$14.2b20x19.3x5.9x
Sun, 09 Nov 2025US$246.3bUS$45.3bUS$13.7b21.2x18x5.4x
Tue, 07 Oct 2025US$258.1bUS$43.1bUS$12.1b28.9x21.3x6x
Thu, 04 Sep 2025US$217.8bUS$42.4bUS$12.2b25.2x17.9x5.1x
Sat, 02 Aug 2025US$177.5bUS$41.0bUS$11.6b16.6x15.3x4.3x
Mon, 30 Jun 2025US$170.2bUS$39.3bUS$9.7b15.5x17.5x4.3x
Wed, 28 May 2025US$165.3bUS$39.3bUS$9.7b15.7x17x4.2x
Fri, 25 Apr 2025US$162.0bUS$37.6bUS$8.6b17.5x18.8x4.3x
Sun, 23 Mar 2025US$145.1bUS$36.6bUS$6.9b20.5x21x4x
Tue, 18 Feb 2025US$135.3bUS$34.3bUS$1.9b23.3x72x3.9x
Thu, 16 Jan 2025US$117.9bUS$33.7bUS$950.0m22x124.1x3.5x
Sat, 14 Dec 2024US$121.4bUS$33.8bUS$953.3m21.8x127.3x3.6x
Mon, 11 Nov 2024US$123.4bUS$33.8bUS$939.7m23.1x131.3x3.7x
Wed, 09 Oct 2024US$128.9bUS$30.8b-US$1,003,904,258.0426.6x-128.4x4.2x
Fri, 06 Sep 2024US$127.1bUS$30.5b-US$1,014,864,383.6926x-125.3x4.2x
Sun, 04 Aug 2024US$122.3bUS$30.0b-US$1,409,339,983.7825.8x-86.8x4.1x
Tue, 02 Jul 2024US$109.1bUS$27.8b-US$2,339,382,486.4232.3x-46.7x3.9x
Thu, 30 May 2024US$112.2bUS$27.8b-US$2,339,430,584.3932.6x-48x4x
Sat, 27 Apr 2024US$109.6bUS$27.4b-US$867,826,390.0113.9x-126.3x4x
Mon, 25 Mar 2024US$91.2bUS$26.1b-US$674,007,090.4512.6x-135.4x3.5x
Wed, 21 Feb 2024US$84.4bUS$25.2bUS$1.2b16.7x71.3x3.3x
Fri, 19 Jan 2024US$87.0bUS$27.9bUS$1.9b10x46x3.1x
Sun, 17 Dec 2023US$97.4bUS$28.1bUS$1.9b10.6x52.4x3.5x
Tue, 14 Nov 2023US$82.4bUS$28.1bUS$1.9b10.4x43.7x2.9x
Thu, 12 Oct 2023US$76.2bUS$28.0bUS$1.8b11.1x43.3x2.7x
Sat, 09 Sep 2023US$67.5bUS$23.2bUS$1.2b12.5x55.8x2.9x
Mon, 07 Aug 2023US$70.1bUS$20.5bUS$1.5b21.4x47.9x3.4x
Wed, 05 Jul 2023US$72.8bUS$20.7bUS$1.6b29.7x44.4x3.5x
Fri, 02 Jun 2023US$73.8bUS$20.7bUS$1.7b27.6x43.6x3.6x
Sun, 30 Apr 2023US$80.4bUS$20.7bUS$1.8b14.5x44.2x3.9x
Tue, 28 Mar 2023US$76.2bUS$20.9bUS$157.7m12.4x483.3x3.6x
Thu, 23 Feb 2023US$69.0bUS$21.2bUS$1.6b11.3x44.3x3.3x
Price to Earnings Ratio

44.3x


Total Market Cap: US$69.0bTotal Earnings: US$1.6bTotal Revenue: US$21.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Gold Industry Price to Earnings3Y Average 30x202420252026
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 24.2x which is lower than its 3-year average PE of 30.0x.
  • The 3-year average PS ratio of 4.1x is lower than the industry's current PS ratio of 7.7x.
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-1.34%
Materials3.06%
Metals and Mining2.85%
Gold8.28%
Diversified Metals and Mining1.41%
Copper1.13%
Silver-0.86%
Aluminum-2.17%
Steel-5.49%
Precious Metals and Minerals-6.77%
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
NEM NewmontUS$125.804.2%
+US$5.5b		170.3%PE19.1x
AEM Agnico Eagle MinesUS$216.593.2%
+US$3.0b		126.0%PE24.3x
AU AngloGold AshantiUS$109.822.5%
+US$1.3b		241.2%PE24.6x
RGLD Royal GoldUS$286.102.5%
+US$581.5m		94.9%PE50.3x
DRD DRDGOLDUS$35.651.6%
+US$48.5m		245.4%PE21.9x

Latest News

AEM
US$216.59
Agnico Eagle Mines
7D
3.2%
1Y
126.0%

Agnico Eagle Mines (NYSE:AEM) Is Increasing Its Dividend To $0.45

Feb 16
Agnico Eagle Mines (NYSE:AEM) Is Increasing Its Dividend To $0.45
NAMM
US$2.63
Namib Minerals
7D
-6.7%
1Y
-75.5%
DC
US$5.84
Dakota Gold
7D
-11.4%
1Y
92.7%
BVN
US$37.96
Compañía de Minas BuenaventuraA
7D
-3.0%
1Y
183.9%

San Gabriel Execution And Metal Grade Pressures Will Undermine Long Term Profitability

Catalysts About Compañía de Minas BuenaventuraA Compañía de Minas BuenaventuraA is a Peruvian mining company focused on producing copper, silver and gold, with a growing contribution expected from the San Gabriel project. What are the underlying business or industry changes driving this perspective?
CDE
US$22.42
Coeur Mining
7D
-2.6%
1Y
239.2%
CMCL
US$30.00
Caledonia Mining
7D
0.4%
1Y
191.5%
HYMC
US$35.55
Hycroft Mining Holding
7D
-8.3%
1Y
1,183.4%
RGLD
US$286.10
Royal Gold
7D
2.5%
1Y
94.9%

RGLD: Higher Dividend Framework And Earnings Multiple Will Support Future Upside Potential

Analysts have lifted their price target on Royal Gold from about US$289 to roughly US$324, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. These updated assumptions are also informing recent Street research revisions on the stock.
GROY
US$4.29
Gold Royalty
7D
-4.2%
1Y
206.4%

GROY: Equity Raise And Lockup Will Support Future Cash Flow Repricing

Analysts have nudged their price expectations for Gold Royalty higher to a fair value of about $6.11 from $5.75, citing updated assumptions around revenue growth, profit margins, discount rates and future P/E multiples. Analyst Commentary Recent Street research on Gold Royalty reflects a mix of optimism and caution, with several firms adjusting their price targets and one shifting its rating to Hold on valuation grounds.
NEM
US$125.80
Newmont
7D
4.2%
1Y
170.3%

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.
MUX
US$25.71
McEwen
7D
-3.8%
1Y
247.4%

MUX: Future Returns Will Be Driven By Advancing Multi Jurisdiction Gold Projects

Analysts have raised their price target on McEwen Mining by about $3, reflecting updated views on fair value and future P/E that are supported by recent Street research commentary on the company. Analyst Commentary Recent Street research around the lifted price targets focuses on how current market pricing lines up with expectations for McEwen Mining’s execution and earnings power.
DRD
US$35.65
DRDGOLD
7D
1.6%
1Y
245.4%
PZG
US$2.20
Paramount Gold Nevada
7D
-4.3%
1Y
489.3%
AU
US$109.82
AngloGold Ashanti
7D
2.5%
1Y
241.2%

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).
AUGO
US$72.36
Aura Minerals
7D
-0.9%
1Y
369.1%
VGZ
US$2.73
Vista Gold
7D
0.4%
1Y
310.0%