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U.S. Metals and Mining Industry Analysis

UpdatedJun 13, 2026
DataAggregated Company Financials
Companies265
  • 7D4.1%
  • 3M6.3%
  • 1Y75.7%
  • YTD16.3%

Over the last 7 days, the Metals and Mining industry has dropped 6.7%, driven by Alcoa declining 4.3%. In contrast, Southern Copper has gained 9.7%. Over the past 12 months, the industry was up 72%. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Jun 2026US$779.4bUS$269.2bUS$32.4b19.7x24x2.9x
Mon, 11 May 2026US$818.7bUS$269.1bUS$32.5b21.9x25.2x3x
Wed, 08 Apr 2026US$775.9bUS$255.7bUS$25.6b21.4x30.3x3x
Fri, 06 Mar 2026US$847.5bUS$255.2bUS$25.7b23.2x32.9x3.3x
Sun, 01 Feb 2026US$775.9bUS$250.8bUS$23.6b27.4x32.8x3.1x
Tue, 30 Dec 2025US$679.3bUS$248.5bUS$22.5b25x30.2x2.7x
Thu, 27 Nov 2025US$596.2bUS$248.3bUS$22.5b22.1x26.4x2.4x
Sat, 25 Oct 2025US$586.6bUS$244.4bUS$21.5b25.2x27.3x2.4x
Mon, 22 Sep 2025US$561.7bUS$244.8bUS$20.3b23.4x27.6x2.3x
Wed, 20 Aug 2025US$496.3bUS$244.5bUS$20.3b21.2x24.5x2x
Fri, 18 Jul 2025US$467.3bUS$241.2bUS$18.2b22.5x25.7x1.9x
Sun, 15 Jun 2025US$464.3bUS$259.2bUS$17.8b21.2x26x1.8x
Tue, 13 May 2025US$431.4bUS$259.1bUS$17.9b21.5x24.1x1.7x
Thu, 10 Apr 2025US$368.4bUS$262.9bUS$16.8b19.9x21.9x1.4x
Sat, 08 Mar 2025US$411.6bUS$263.3bUS$17.2b21.2x23.9x1.6x
Mon, 03 Feb 2025US$406.0bUS$261.8bUS$11.5b18.7x35.3x1.6x
Wed, 01 Jan 2025US$384.4bUS$265.8bUS$12.5b15x30.8x1.4x
Fri, 29 Nov 2024US$441.5bUS$266.1bUS$12.5b19.1x35.4x1.7x
Sun, 27 Oct 2024US$456.9bUS$269.1bUS$11.3b15.4x40.6x1.7x
Tue, 24 Sep 2024US$444.2bUS$267.4bUS$11.3b13.6x39.2x1.7x
Thu, 22 Aug 2024US$437.0bUS$267.2bUS$11.5b13.5x38.1x1.6x
Sat, 20 Jul 2024US$447.0bUS$266.2bUS$12.5b13.9x35.8x1.7x
Mon, 17 Jun 2024US$424.9bUS$266.6bUS$13.1b14.1x32.6x1.6x
Wed, 15 May 2024US$461.1bUS$266.9bUS$13.0b13.4x35.3x1.7x
Fri, 12 Apr 2024US$459.1bUS$266.2bUS$15.7b14.2x29.3x1.7x
Sun, 10 Mar 2024US$399.0bUS$266.7bUS$16.0b13.9x25x1.5x
Tue, 06 Feb 2024US$376.7bUS$264.7bUS$18.3b16.1x20.6x1.4x
Thu, 04 Jan 2024US$402.3bUS$278.3bUS$19.5b17.9x20.7x1.4x
Sat, 02 Dec 2023US$380.1bUS$283.5bUS$20.1b15.5x18.9x1.3x
Mon, 30 Oct 2023US$336.7bUS$279.3bUS$21.3b11.6x15.8x1.2x
Wed, 27 Sep 2023US$340.2bUS$279.3bUS$21.8b11.2x15.6x1.2x
Fri, 25 Aug 2023US$350.8bUS$276.4bUS$21.7b13.6x16.2x1.3x
Sun, 23 Jul 2023US$362.9bUS$281.8bUS$24.0b13.5x15.1x1.3x
Tue, 20 Jun 2023US$347.8bUS$285.0bUS$26.3b12.4x13.2x1.2x
Price to Earnings Ratio

13.2x


Total Market Cap: US$347.8bTotal Earnings: US$26.3bTotal Revenue: US$285.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 27.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Metals and Mining 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 22.7x which is lower than its 3-year average PE of 27.3x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 7.3% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Materials industry?

US Market0.81%
Materials3.60%
Metals and Mining4.15%
Copper9.03%
Steel4.34%
Silver4.14%
Diversified Metals and Mining2.92%
Gold0.76%
Aluminum-0.79%
Precious Metals and Minerals-3.47%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 24.9x.
    • Analysts expect its future annual earnings growth (24.8%) to be largely in line with prior year's earnings growth.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 33% over the next 5 years.
  • However this is lower than its past earnings growth rate of 93% per year.
  • In contrast, the Gold industry is expected to see its earnings grow by 9.2% 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$189.799.7%
+US$14.0b		107.8%PE31.9x
FCX Freeport-McMoRanUS$68.418.0%
+US$7.2b		67.1%PE36.1x
NUE NucorUS$266.354.7%
+US$2.7b		118.5%PE26.1x
STLD Steel DynamicsUS$282.765.3%
+US$2.1b		111.8%PE29.7x
AU AngloGold AshantiUS$86.302.6%
+US$1.1b		69.7%PE12.6x

Latest News

AEM
US$162.64
Agnico Eagle Mines
7D
-0.6%
1Y
30.7%
NUE
US$266.35
Nucor
7D
4.7%
1Y
118.5%
CDE
US$17.20
Coeur Mining
7D
5.1%
1Y
85.7%
Seeking Alpha • Jun 12

Ceour Mining: Still Strong, Despite Gold's Bear Market

Summary Coeur Mining maintains a buy rating despite a bearish technical setup and gold's decline below its 200-day average. CDE delivered record Q1 revenue and EBITDA, driven by balanced production, higher realized prices, and the accretive New Gold acquisition. Valuation remains compelling, with shares trading below a $22 fair value target and boasting a nearly 9% free cash flow yield. Key risks include further declines in gold/silver prices, rising costs, and a bearish chart pattern targeting $11 if support fails. Read the full article on Seeking Alpha
IE
US$11.03
Ivanhoe Electric
7D
-4.0%
1Y
39.4%
AU
US$86.30
AngloGold Ashanti
7D
2.6%
1Y
69.7%
Narrative Update • Jun 11

AU: Rich P/E And New Nevada Development Will Likely Temper Future Returns

Analysts now set a price target of $76.11 for AngloGold Ashanti, up from $75.00. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that together suggest a slightly higher valuation framework for the stock.
USAR
US$21.99
USA Rare Earth
7D
-2.1%
1Y
66.1%
UAMY
US$7.04
United States Antimony
7D
-8.7%
1Y
140.3%
Narrative Update • Jun 11

UAMY: New Smelter Ramp And Federal Support Will Shape Critical Minerals Upside

Narrative Update on United States Antimony The analyst price target for United States Antimony is now framed around recent Street research, with one firm moving from $11.50 to $11.75 after updating its model following the Q1 report and another increasing its target by $2, as analysts factor in refreshed assumptions for discount rates, profit margins and future P/E expectations. Analyst Commentary Recent research around United States Antimony has centered on refreshed valuation models following the Q1 report, with bullish analysts adjusting price targets into the US$11.50 to US$11.75 range as they update assumptions for discount rates, profit margins and future P/E expectations.
MP
US$57.55
MP Materials
7D
-2.8%
1Y
88.4%
Seeking Alpha • Jun 11

MP Materials: Rare Earth Powerhouse

Summary MP Materials Corp. leads rare earths mining outside China, with robust existing operations and ambitious expansion targets. MP targets $650 million adjusted EBITDA, driven by scaling NdPr and magnet capacity, with upside from higher NdPr prices and recycling. The stock is more attractive on dips to $50, equating to 15x EBITDA targets, though execution risks remain significant. Read the full article on Seeking Alpha
AA
US$68.77
Alcoa
7D
-4.3%
1Y
142.6%
STLD
US$282.76
Steel Dynamics
7D
5.3%
1Y
111.8%
HCC
US$98.11
Warrior Met Coal
7D
-1.8%
1Y
109.7%
SCCO
US$189.79
Southern Copper
7D
9.7%
1Y
107.8%
Narrative Update • Jun 09

SCCO: Rich P E And ESG Headwinds Will Shape Balanced Future Returns

Analysts have nudged their fair value estimate for Southern Copper slightly higher to about $163 per share, reflecting updated assumptions that temper revenue growth and margins while recognizing the stock's elevated P/E and the recent wave of Underweight and Sell ratings tied to concerns about a stretched valuation. Analyst Commentary Recent research on Southern Copper shows a crowded field of views, with several firms updating price targets and ratings in a short span.
BVN
US$33.42
Compañía de Minas BuenaventuraA
7D
10.4%
1Y
97.9%
Narrative Update • Jun 06

BVN: Future Returns Will Be Driven By Repriced Long Term Earnings Power

Analysts have adjusted their view on Compañía de Minas Buenaventura, trimming the average price target by $2 following mixed research updates that reflect revised discount rate assumptions and modest tweaks to long term P/E expectations. Analyst Commentary Recent research on Compañía de Minas Buenaventura points in different directions, with one price target trimmed by US$2 and another raised by US$13.
FCX
US$68.41
Freeport-McMoRan
7D
8.0%
1Y
67.1%
Narrative Update • Jun 06

FCX: Copper Euphoria Will Be Capped By Prolonged Grasberg Production Constraints

Analysts have inched up the Fair Value estimate for Freeport-McMoRan by about $0.50, reflecting modest tweaks to revenue growth, profit margin, and future P/E assumptions. This move is supported by a wave of higher Street price targets and new Overweight ratings that highlight copper exposure as a key driver.
RS
US$413.43
Reliance
7D
4.8%
1Y
33.3%
Narrative Update • Jun 05

RS: Future Returns Will Depend On Sustained Buybacks Despite Overvaluation Concerns

Analysts have slightly raised their price target on Reliance from about $357.75 to roughly $359.57, citing marginally higher assumptions for revenue growth and profit margins, as well as a small adjustment to the discount rate and future P/E expectations. What's in the News Reliance, Inc.
TMCR
US$9.34
Metals Royalty
7D
-18.6%
1Y
n/a