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U.S. Metals and Mining Industry Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies272
  • 7D6.0%
  • 3M24.4%
  • 1Y85.2%
  • YTD86.3%

Over the last 7 days, the Metals and Mining industry has risen 6.0%, and Agnico Eagle Mines contributed the most with a gain of 8.3%. This means that the industry has gained 85% over the past year. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025US$689.4bUS$248.6bUS$22.5b26.4x30.6x2.8x
Sat, 22 Nov 2025US$563.6bUS$248.2bUS$22.5b21.2x25x2.3x
Mon, 20 Oct 2025US$597.9bUS$242.2bUS$20.1b25.3x29.7x2.5x
Wed, 17 Sep 2025US$554.8bUS$244.8bUS$20.3b23.6x27.3x2.3x
Fri, 15 Aug 2025US$503.1bUS$244.5bUS$20.5b22x24.5x2.1x
Sun, 13 Jul 2025US$478.6bUS$241.1bUS$18.0b23x26.5x2x
Tue, 10 Jun 2025US$453.2bUS$259.2bUS$17.8b21.7x25.4x1.7x
Thu, 08 May 2025US$434.0bUS$258.8bUS$18.2b21.4x23.9x1.7x
Sat, 05 Apr 2025US$402.9bUS$262.9bUS$16.8b18.5x23.9x1.5x
Mon, 03 Mar 2025US$411.7bUS$263.2bUS$17.2b20.9x23.9x1.6x
Wed, 29 Jan 2025US$402.4bUS$262.5bUS$11.5b16.5x35.1x1.5x
Fri, 27 Dec 2024US$393.8bUS$265.9bUS$12.5b15.4x31.5x1.5x
Sun, 24 Nov 2024US$443.3bUS$266.0bUS$12.4b19.3x35.7x1.7x
Tue, 22 Oct 2024US$476.5bUS$267.1bUS$11.2b14.8x42.6x1.8x
Thu, 19 Sep 2024US$432.2bUS$267.5bUS$11.3b14.1x38.2x1.6x
Sat, 17 Aug 2024US$434.7bUS$267.1bUS$11.5b13.6x37.9x1.6x
Mon, 15 Jul 2024US$463.5bUS$266.5bUS$12.8b13.9x36.3x1.7x
Wed, 12 Jun 2024US$437.8bUS$266.6bUS$13.0b14.5x33.7x1.6x
Fri, 10 May 2024US$446.3bUS$266.8bUS$13.0b13.3x34.2x1.7x
Sun, 07 Apr 2024US$454.7bUS$266.3bUS$15.7b14.6x29x1.7x
Tue, 05 Mar 2024US$389.2bUS$266.5bUS$16.0b14.2x24.4x1.5x
Thu, 01 Feb 2024US$394.1bUS$276.7bUS$18.8b16.2x21x1.4x
Sat, 30 Dec 2023US$417.5bUS$278.9bUS$19.4b17.7x21.5x1.5x
Mon, 27 Nov 2023US$367.3bUS$280.1bUS$20.0b15.3x18.4x1.3x
Wed, 25 Oct 2023US$330.5bUS$282.8bUS$22.1b11.6x15x1.2x
Fri, 22 Sep 2023US$345.5bUS$279.1bUS$21.3b12.1x16.2x1.2x
Sun, 20 Aug 2023US$351.1bUS$276.5bUS$21.7b13.8x16.2x1.3x
Tue, 18 Jul 2023US$366.4bUS$284.5bUS$26.0b13.4x14.1x1.3x
Thu, 15 Jun 2023US$345.6bUS$284.9bUS$26.3b12.3x13.2x1.2x
Sat, 13 May 2023US$332.8bUS$284.8bUS$26.4b11.8x12.6x1.2x
Mon, 10 Apr 2023US$356.1bUS$293.2bUS$30.7b10.8x11.6x1.2x
Wed, 08 Mar 2023US$363.6bUS$293.2bUS$31.0b8.5x11.7x1.2x
Fri, 03 Feb 2023US$385.2bUS$296.6bUS$36.2b7.7x10.6x1.3x
Sun, 01 Jan 2023US$325.3bUS$298.3bUS$37.9b6.6x8.6x1.1x
Price to Earnings Ratio

8.6x


Total Market Cap: US$325.3bTotal Earnings: US$37.9bTotal Revenue: US$298.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 24.4x202320242025
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 30.6x which is higher than its 3-year average PE of 24.4x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 16% per year over the last three years,
  • Revenues have also declined 5.9% 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 Market3.10%
Materials2.94%
Metals and Mining5.98%
Aluminum13.39%
Diversified Metals and Mining9.48%
Gold6.75%
Precious Metals and Minerals6.60%
Copper6.16%
Silver2.40%
Steel2.20%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 4.9x.
    • Analysts are expecting annual earnings growth of 31.6% 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 71% over the next 5 years.
  • This is better than its past earnings growth rate of 33% per year.
  • In contrast, the Copper industry is expected to see its earnings grow by 10% 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$181.348.3%
+US$6.9b		130.3%PE26.4x
FCX Freeport-McMoRanUS$51.928.6%
+US$5.9b		32.4%PE36.1x
NEM NewmontUS$104.735.3%
+US$5.8b		173.4%PE15.9x
SCCO Southern CopperUS$148.134.7%
+US$5.5b		62.6%PE31.8x
AU AngloGold AshantiUS$89.916.4%
+US$2.7b		279.5%PE20.2x

Latest News

FCX
US$51.92
Freeport-McMoRan
7D
8.6%
1Y
32.4%
TX
US$38.16
Ternium
7D
-0.8%
1Y
32.1%

TX: Future Earnings Multiple Will Likely Compress From Current Levels

Analysts have raised their price target on Ternium from 26.00 dollars to 30.00 dollars, citing higher anticipated revenue growth, improved profit margins, and a lower expected future P/E multiple. Valuation Changes Fair Value: increased moderately from 26.0 dollars to 30.0 dollars per share.
NUE
US$165.49
Nucor
7D
3.0%
1Y
40.9%
RS
US$295.51
Reliance
7D
-0.7%
1Y
9.1%

Reliance, Inc.'s (NYSE:RS) Earnings Haven't Escaped The Attention Of Investors

Dec 23
Reliance, Inc.'s (NYSE:RS) Earnings Haven't Escaped The Attention Of Investors
AEM
US$181.34
Agnico Eagle Mines
7D
8.3%
1Y
130.3%

AEM: Gold Rally And Geopolitical Uncertainty Will Shape Balanced Future Outlook

Agnico Eagle Mines' analyst price target has inched higher from approximately $195 to about $197 per share as analysts factor in stronger revenue growth assumptions, slightly improved margins, and a supportive outlook for precious metal prices amid ongoing macroeconomic and geopolitical uncertainty. Analyst Commentary Recent Street research has turned more constructive on Agnico Eagle Mines, with multiple firms lifting price targets to reflect stronger precious metals pricing, improving capital allocation, and a more supportive macro backdrop for gold and silver.
LUD
US$6.91
Luda Technology Group
7D
-20.6%
1Y
n/a
AA
US$53.63
Alcoa
7D
14.5%
1Y
38.9%

AA: Low Carbon Smelting Shift Will Likely Pressure Future Returns

Narrative Update on Alcoa Analysts have raised their price target on Alcoa by approximately 10 percent to around 45 dollars per share, citing expectations for modestly stronger revenue growth, materially improved profit margins, and a more attractive forward earnings multiple. What's in the News Alcoa, Ball and Unilever unveiled the first consumer packaging using ELYSIS carbon free smelting technology, combining low carbon primary aluminum with recycled content to create one of the lowest footprint aerosol cans on the market (company announcement).
NEM
US$104.73
Newmont
7D
5.3%
1Y
173.4%

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.
WS
US$36.32
Worthington Steel
7D
1.1%
1Y
10.9%
SCCO
US$148.13
Southern Copper
7D
4.7%
1Y
62.6%

SCCO Copper Supply Tightness Is Expected To Drive MultiYear Upside

Analysts have raised their price target for Southern Copper significantly, with fair value estimates climbing from approximately $125 to $172. This reflects higher copper price forecasts, tightening supply into 2026, and modestly stronger long term growth and profitability assumptions.
CDE
US$18.72
Coeur Mining
7D
8.8%
1Y
220.5%

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$89.91
AngloGold Ashanti
7D
6.4%
1Y
279.5%

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).
MTUS
US$17.89
Metallus
7D
-6.0%
1Y
25.4%

MTUS: Labor Agreement Progress Will Support Share Upside Into 2026

Analysts have nudged their price target on Metallus modestly higher to approximately $20.50 per share, citing slightly increased discount rate and valuation multiple assumptions, while leaving core growth and margin expectations effectively unchanged. What's in the News Metallus and United Steelworkers (USW) Local 1123 reached a new tentative four year labor agreement after members rejected the prior proposal on October 30, 2025, with a second vote date to be announced and the current contract extended to January 29, 2026 (company filing).
ASTL
US$4.17
Algoma Steel Group
7D
-4.1%
1Y
-57.4%

Benign Growth For Algoma Steel Group Inc. (NASDAQ:ASTL) Underpins Stock's 25% Plummet

Nov 23
Benign Growth For Algoma Steel Group Inc. (NASDAQ:ASTL) Underpins Stock's 25% Plummet
TG
US$7.42
Tredegar
7D
-2.4%
1Y
-4.1%
INHD
US$1.31
Inno Holdings
7D
-51.7%
1Y
-98.8%