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U.S. Metals and Mining Industry Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies250
  • 7D1.8%
  • 3M20.6%
  • 1Y31.8%
  • YTD46.6%

In the last week, the Metals and Mining industry is up 1.8%, with Southern Copper up 4.7%. In the last 12 months, the industry was up 32%. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025US$551.6bUS$244.8bUS$20.3b23.3x27.2x2.3x
Sat, 16 Aug 2025US$499.9bUS$244.5bUS$20.2b21.6x24.7x2x
Mon, 14 Jul 2025US$478.6bUS$241.1bUS$18.0b23x26.5x2x
Wed, 11 Jun 2025US$458.5bUS$259.2bUS$17.8b21.9x25.7x1.8x
Fri, 09 May 2025US$426.6bUS$258.3bUS$17.8b21.7x24x1.7x
Sun, 06 Apr 2025US$370.4bUS$262.9bUS$16.8b18.5x22x1.4x
Tue, 04 Mar 2025US$411.2bUS$263.2bUS$17.2b20.8x23.9x1.6x
Thu, 30 Jan 2025US$400.7bUS$262.5bUS$11.5b16.7x34.9x1.5x
Sat, 28 Dec 2024US$394.3bUS$265.9bUS$12.5b15.4x31.5x1.5x
Mon, 25 Nov 2024US$443.3bUS$266.0bUS$12.4b19.3x35.7x1.7x
Wed, 23 Oct 2024US$474.2bUS$267.2bUS$10.6b14.8x44.5x1.8x
Fri, 20 Sep 2024US$434.1bUS$267.4bUS$11.3b14.4x38.3x1.6x
Sun, 18 Aug 2024US$435.9bUS$267.2bUS$11.5b13.6x37.9x1.6x
Tue, 16 Jul 2024US$463.5bUS$266.4bUS$12.8b14.4x36.3x1.7x
Thu, 13 Jun 2024US$430.9bUS$266.7bUS$13.0b14.6x33.1x1.6x
Sat, 11 May 2024US$457.9bUS$266.8bUS$13.0b13x35.1x1.7x
Mon, 08 Apr 2024US$454.7bUS$266.3bUS$15.7b14.6x29x1.7x
Wed, 06 Mar 2024US$389.3bUS$266.6bUS$16.0b14.2x24.4x1.5x
Fri, 02 Feb 2024US$395.2bUS$276.8bUS$18.9b16.2x20.9x1.4x
Sun, 31 Dec 2023US$412.2bUS$278.5bUS$19.5b17.7x21.2x1.5x
Tue, 28 Nov 2023US$367.3bUS$280.1bUS$20.0b15.2x18.4x1.3x
Thu, 26 Oct 2023US$331.1bUS$282.7bUS$22.2b11.4x14.9x1.2x
Sat, 23 Sep 2023US$346.3bUS$279.1bUS$21.3b12.2x16.2x1.2x
Mon, 21 Aug 2023US$351.1bUS$276.5bUS$21.7b13.8x16.2x1.3x
Wed, 19 Jul 2023US$369.7bUS$284.5bUS$26.0b13.5x14.2x1.3x
Fri, 16 Jun 2023US$345.6bUS$285.0bUS$26.3b12.7x13.2x1.2x
Sun, 14 May 2023US$332.8bUS$284.8bUS$26.4b11.8x12.6x1.2x
Tue, 11 Apr 2023US$358.0bUS$293.2bUS$30.7b11.3x11.7x1.2x
Thu, 09 Mar 2023US$366.9bUS$293.2bUS$31.0b8.5x11.8x1.3x
Sat, 04 Feb 2023US$380.5bUS$296.5bUS$36.2b7.8x10.5x1.3x
Mon, 02 Jan 2023US$322.4bUS$298.3bUS$37.9b6.6x8.5x1.1x
Wed, 30 Nov 2022US$326.1bUS$297.9bUS$38.0b6.1x8.6x1.1x
Fri, 28 Oct 2022US$299.8bUS$298.3bUS$40.6b6.7x7.4x1x
Sun, 25 Sep 2022US$255.4bUS$296.4bUS$44.4b6.3x5.8x0.9x
Price to Earnings Ratio

5.8x


Total Market Cap: US$255.4bTotal Earnings: US$44.4bTotal Revenue: US$296.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 22.6x202320242025
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 27.2x which is higher than its 3-year average PE of 22.6x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 23% per year over the last three years,
  • Revenues have also declined 6.2% 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 Market1.17%
Materials0.31%
Metals and Mining1.83%
Aluminum7.39%
Diversified Metals and Mining6.54%
Copper2.83%
Steel1.30%
Silver0.72%
Gold0.61%
Precious Metals and Minerals-0.052%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 18.5% 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 62% over the next 5 years.
  • This is better than its past earnings growth rate of 2.5% per year.
  • In contrast, the Aluminum industry is expected to see its earnings grow by 4.2% 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
SCCO Southern CopperUS$106.884.7%
+US$3.9b		9.1%PE24x
MP MP MaterialsUS$66.817.0%
+US$773.9m		373.2%PS48.9x
CDE Coeur MiningUS$16.007.1%
+US$681.3m		137.0%PE53.9x
AA AlcoaUS$32.866.2%
+US$499.7m		-4.3%PE8.6x
STLD Steel DynamicsUS$136.852.1%
+US$421.0m		14.0%PE19.4x

Latest News

NEM
US$78.69
Newmont
7D
0.3%
1Y
48.3%
CENX
US$26.40
Century Aluminum
7D
18.0%
1Y
85.8%
CLF
US$11.29
Cleveland-Cliffs
7D
-0.7%
1Y
-2.2%

US Tariffs And Reshoring Will Support Domestic Steel Demand

Cleveland-Cliffs’ consensus price target has increased to $11.31 as improved cost and efficiency post-Q2, potential share gains in auto steel from tariffs and onshoring, and supportive trade policies offset soft underlying demand and future supply concerns. Analyst Commentary Bullish analysts note improved risk/reward for Cleveland-Cliffs post-Q2 earnings, citing better cost and efficiency performance.
STLD
US$136.85
Steel Dynamics
7D
2.1%
1Y
14.0%
CDE
US$16.00
Coeur Mining
7D
7.1%
1Y
137.0%
CRS
US$243.84
Carpenter Technology
7D
-1.3%
1Y
65.9%
GSM
US$4.11
Ferroglobe
7D
-1.7%
1Y
-2.1%
BVN
US$19.82
Compañía de Minas BuenaventuraA
7D
-1.1%
1Y
47.1%

Returns On Capital Are Showing Encouraging Signs At Compañía de Minas BuenaventuraA (NYSE:BVN)

Sep 12
Returns On Capital Are Showing Encouraging Signs At Compañía de Minas BuenaventuraA (NYSE:BVN)
MUX
US$13.50
McEwen
7D
-1.5%
1Y
51.5%
AU
US$64.52
AngloGold Ashanti
7D
-0.1%
1Y
136.6%
LUD
US$12.00
Luda Technology Group
7D
-39.1%
1Y
n/a
FCX
US$45.09
Freeport-McMoRan
7D
0.5%
1Y
2.7%
MP
US$66.81
MP Materials
7D
7.0%
1Y
373.2%

Government Contracts And Apple Partnership Will Drive Processing Expansion

The notable increase in MP Materials’ consensus analyst price target from $67.00 to $77.00 appears driven by a substantial rise in the company’s future P/E multiple, despite a modest contraction in net profit margin. What's in the News MP Materials announced a $500 million long-term agreement with Apple to supply rare earth magnets made from 100% recycled materials, significantly expanding its Fort Worth magnetics facility and planning a dedicated recycling line at Mountain Pass; magnet shipments are expected to begin in 2027.
RS
US$288.58
Reliance
7D
-1.3%
1Y
4.1%

US Infrastructure Spending Will Boost Specialty Steel Demand

With no substantive changes to either revenue growth forecasts (3.7% p.a.) or the discount rate (7.51%), Reliance’s consensus analyst price target remained effectively unchanged at $326.14. What's in the News Reliance is actively seeking acquisition opportunities to expand its geographic footprint and value-added metal processing solutions, emphasizing disciplined, profitable growth.
SCCO
US$106.88
Southern Copper
7D
4.7%
1Y
9.1%

Is Southern Copper (NYSE:SCCO) Using Too Much Debt?

Sep 01
Is Southern Copper (NYSE:SCCO) Using Too Much Debt?
AA
US$32.86
Alcoa
7D
6.2%
1Y
-4.3%