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U.S. Metals and Mining Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies275
  • 7D3.8%
  • 3M40.8%
  • 1Y116.7%
  • YTD22.8%

The Metals and Mining industry is up 5.7% in the last week, with Newmont up 6.8%. In the same time, Evolution Metals & Technologies was down 17%. In the last 12 months, the industry was up 111%. Looking forward, 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
Wed, 28 Jan 2026US$828.6bUS$249.7bUS$23.1b26x35.8x3.3x
Fri, 26 Dec 2025US$689.5bUS$248.5bUS$22.5b26.4x30.6x2.8x
Sun, 23 Nov 2025US$572.9bUS$248.2bUS$22.5b21.2x25.4x2.3x
Tue, 21 Oct 2025US$619.3bUS$242.4bUS$20.1b26.4x30.8x2.6x
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
Price to Earnings Ratio

10.5x


Total Market Cap: US$380.5bTotal Earnings: US$36.2bTotal Revenue: US$296.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 25.2x202420252026
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 36.1x which is higher than its 3-year average PE of 25.2x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 14% per year over the last three years,
  • Revenues have also declined 5.6% 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 Market2.04%
Materials3.30%
Metals and Mining3.81%
Gold5.29%
Copper4.63%
Diversified Metals and Mining2.52%
Precious Metals and Minerals1.39%
Steel0.47%
Silver0.25%
Aluminum-2.29%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 10.6x.
    • Analysts are expecting annual earnings growth of 37.0% 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 66% 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 8.4% 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
NEM NewmontUS$127.006.8%
+US$8.8b		207.1%PE19.2x
SCCO Southern CopperUS$194.844.6%
+US$7.0b		123.1%PE41.8x
FCX Freeport-McMoRanUS$62.874.7%
+US$4.0b		75.4%PE41x
AEM Agnico Eagle MinesUS$216.163.4%
+US$3.5b		140.3%PE31.5x
CDE Coeur MiningUS$25.7112.4%
+US$1.8b		310.0%PE40.4x

Latest News

AA
US$59.66
Alcoa
7D
-4.0%
1Y
74.7%
NUE
US$173.58
Nucor
7D
-0.5%
1Y
37.2%
SCCO
US$194.84
Southern Copper
7D
4.6%
1Y
123.1%

Southern Copper Corporation's (NYSE:SCCO) 26% Price Boost Is Out Of Tune With Earnings

Jan 27
Southern Copper Corporation's (NYSE:SCCO) 26% Price Boost Is Out Of Tune With Earnings
MTRN
US$134.64
Materion
7D
-7.5%
1Y
31.5%
FCX
US$62.87
Freeport-McMoRan
7D
4.7%
1Y
75.4%
AU
US$109.44
AngloGold Ashanti
7D
2.4%
1Y
288.8%
RGLD
US$293.73
Royal Gold
7D
5.8%
1Y
111.3%

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?
CDE
US$25.71
Coeur Mining
7D
12.4%
1Y
310.0%
EMAT
US$7.11
Evolution Metals & Technologies
7D
-14.3%
1Y
-35.4%

Evolution Metals & Technologies Is Just The Beginning; Caution Is Advised

Jan 24
NEM
US$127.00
Newmont
7D
6.8%
1Y
207.1%

NEM: Future Barrick Nevada Deal Pursuit Will Likely Pressure Stretched Shares

Narrative Update on Newmont Analysts have lifted their implied price target on Newmont by about US$7 per share, reflecting updated views on fair value, refreshed commodity price assumptions, and company guidance that points to revenue growth, a different profit margin profile, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research on Newmont has centered on refreshed commodity price assumptions, updated company guidance, and how those factors flow through to valuation.
MP
US$66.73
MP Materials
7D
-2.4%
1Y
220.5%

MP: Saudi Refinery Venture And Profit Recovery Will Shape Supply Security

Analysts have reduced their implied fair value estimate for MP Materials from US$71.00 to US$69.00, reflecting slightly adjusted assumptions on discount rates, revenue growth, profit margins, and future P/E levels. What's in the News MP Materials agreed to form a joint venture with the U.S. Department of War and Saudi Arabian Mining Company (Maaden) to develop a rare earth refinery in Saudi Arabia, with MP and the DoW targeting a combined 49% equity stake and Maaden holding at least 51% (Key Developments).
HCC
US$92.38
Warrior Met Coal
7D
-6.7%
1Y
77.0%
AMR
US$221.33
Alpha Metallurgical Resources
7D
-5.0%
1Y
19.9%

AMR: Rising Shipment Guidance And Buybacks Will Mask Overvaluation Risk

Analysts now see fair value for Alpha Metallurgical Resources at US$204.00, up from US$110.00, citing updated assumptions for revenue growth, profit margins, a slightly higher future P/E multiple, and an increased discount rate. What's in the News Issued 2026 operational guidance, with expected shipments of 14.4 million to 15.4 million metallurgical tons plus 0.7 million to 1.1 million tons of incidental thermal coal, for a total range of 15.1 million to 16.5 million tons for the year (company guidance).
AEM
US$216.16
Agnico Eagle Mines
7D
3.4%
1Y
140.3%

AEM: Precious Metals Strength And Capital Returns Will Shape Balanced Outlook

Narrative Update Analysts have lifted their price target on Agnico Eagle Mines to about $205 from roughly $197, reflecting updated views on higher potential revenue growth, a stronger profit margin profile, and a slightly lower future P/E multiple. These changes are supported by recent target increases from several major firms, as precious metals prices and sector-specific capital returns and M&A activity continue to be highlighted.
IDR
US$40.47
Idaho Strategic Resources
7D
-12.6%
1Y
229.8%
HYMC
US$54.85
Hycroft Mining Holding
7D
28.2%
1Y
2,451.2%