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U.S. Metals and Mining Industry Analysis

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies262
  • 7D5.5%
  • 3M-4.6%
  • 1Y89.2%
  • YTD20.7%

In the last week, the Metals and Mining industry is up 5.5%, with Southern Copper up 6.5%. During this same period, the Evolution Metals & Technologies underperformed, falling 16%. This means that the industry has gained 89% over the past year. Looking forward, 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
Tue, 02 Jun 2026US$827.9bUS$269.2bUS$32.5b21.8x25.5x3.1x
Thu, 30 Apr 2026US$773.3bUS$262.0bUS$28.5b21.8x27.2x3x
Sat, 28 Mar 2026US$706.3bUS$255.3bUS$25.5b21x27.7x2.8x
Mon, 23 Feb 2026US$842.9bUS$254.8bUS$25.3b23.8x33.3x3.3x
Wed, 21 Jan 2026US$782.5bUS$248.6bUS$22.8b26.8x34.3x3.1x
Fri, 19 Dec 2025US$650.4bUS$248.5bUS$22.5b24.5x28.9x2.6x
Sun, 16 Nov 2025US$589.0bUS$248.3bUS$22.5b20.5x26.1x2.4x
Tue, 14 Oct 2025US$580.3bUS$242.4bUS$20.0b26x29x2.4x
Thu, 11 Sep 2025US$528.9bUS$244.5bUS$20.3b23x26x2.2x
Sat, 09 Aug 2025US$491.9bUS$244.7bUS$20.6b21.8x23.9x2x
Mon, 07 Jul 2025US$479.9bUS$243.9bUS$17.9b23.1x26.8x2x
Wed, 04 Jun 2025US$452.6bUS$259.1bUS$17.8b21x25.4x1.7x
Fri, 02 May 2025US$432.9bUS$263.5bUS$18.8b21.4x23.1x1.6x
Sun, 30 Mar 2025US$427.7bUS$262.9bUS$16.8b24x25.4x1.6x
Tue, 25 Feb 2025US$418.7bUS$264.3bUS$17.6b21.6x23.8x1.6x
Thu, 23 Jan 2025US$416.9bUS$263.1bUS$11.9b15.4x35x1.6x
Sat, 21 Dec 2024US$385.5bUS$265.9bUS$12.5b15.4x30.8x1.4x
Mon, 18 Nov 2024US$426.4bUS$266.7bUS$12.5b18.8x34.1x1.6x
Wed, 16 Oct 2024US$462.1bUS$267.3bUS$11.3b14.3x41x1.7x
Fri, 13 Sep 2024US$413.4bUS$267.4bUS$11.4b13.5x36.3x1.5x
Sun, 11 Aug 2024US$420.5bUS$267.1bUS$11.5b13.7x36.5x1.6x
Tue, 09 Jul 2024US$452.2bUS$266.4bUS$12.8b13.6x35.5x1.7x
Thu, 06 Jun 2024US$440.3bUS$266.8bUS$13.0b14.4x33.8x1.6x
Sat, 04 May 2024US$441.4bUS$267.0bUS$13.3b13.3x33.3x1.7x
Mon, 01 Apr 2024US$439.8bUS$266.3bUS$15.7b14.4x28x1.7x
Wed, 28 Feb 2024US$380.9bUS$266.4bUS$15.9b15.3x24x1.4x
Fri, 26 Jan 2024US$386.5bUS$277.6bUS$19.2b16.3x20.2x1.4x
Sun, 24 Dec 2023US$418.3bUS$278.9bUS$19.4b17.9x21.5x1.5x
Tue, 21 Nov 2023US$363.0bUS$280.1bUS$20.0b15.5x18.2x1.3x
Thu, 19 Oct 2023US$341.1bUS$283.2bUS$21.8b12x15.6x1.2x
Sat, 16 Sep 2023US$352.3bUS$279.1bUS$21.4b12.7x16.5x1.3x
Mon, 14 Aug 2023US$361.0bUS$276.9bUS$21.8b13.6x16.5x1.3x
Wed, 12 Jul 2023US$357.7bUS$284.2bUS$26.0b13x13.8x1.3x
Fri, 09 Jun 2023US$340.6bUS$284.7bUS$26.4b12.6x12.9x1.2x
Price to Earnings Ratio

12.9x


Total Market Cap: US$340.6bTotal Earnings: US$26.4bTotal Revenue: US$284.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 27.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Metals and Mining industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 27.2x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 7.2% 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 Market1.58%
Materials2.67%
Metals and Mining5.54%
Steel7.55%
Copper6.30%
Aluminum6.04%
Diversified Metals and Mining5.79%
Silver4.66%
Gold3.91%
Precious Metals and Minerals-3.75%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 24.5x.
    • Analysts expect its future annual earnings growth (24.4%) 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 40% over the next 5 years.
  • However this is lower than its past earnings growth rate of 93% per year.
  • In contrast, the Copper industry is expected to see its earnings grow by 8.5% 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$191.306.5%
+US$9.7b		114.7%PE32.1x
FCX Freeport-McMoRanUS$67.048.1%
+US$7.3b		67.0%PE35.4x
NUE NucorUS$251.498.4%
+US$4.4b		108.9%PE24.7x
STLD Steel DynamicsUS$260.158.4%
+US$2.9b		91.7%PE27.3x
CDE Coeur MiningUS$19.329.6%
+US$1.7b		123.9%PE25x

Latest News

CMCL
US$22.31
Caledonia Mining
7D
-2.1%
1Y
25.5%
CLF
US$13.58
Cleveland-Cliffs
7D
20.9%
1Y
89.1%
Narrative Update • May 31

CLF: Tariff Policy And Leverage Concerns Will Shape Future Earnings Power

Analysts have reduced the Cleveland-Cliffs fair value estimate by about $2.40 to $14.42 per share, reflecting lower assumed revenue growth and P/E multiple, along with a modestly higher profit margin outlook and recent cautious coverage, including new Underweight ratings with a $9 price target. Analyst Commentary Recent Street research on Cleveland-Cliffs has leaned cautious overall, with several firms assigning Underweight ratings and lower price targets.
CDE
US$19.32
Coeur Mining
7D
9.6%
1Y
123.9%
AUGO
US$72.30
Aura Minerals
7D
-0.4%
1Y
192.1%
FCX
US$67.04
Freeport-McMoRan
7D
8.1%
1Y
67.0%
AA
US$77.76
Alcoa
7D
8.9%
1Y
192.3%
Seeking Alpha • May 29

Alcoa: I Remain Bullish After The Massive Rally

Summary Alcoa Corporation remains a 'Buy' with ~21% upside potential, supported by structural demand and portfolio streamlining. AA benefits from global aluminum supply disruptions, higher regional premiums, and a strong alternative energy portfolio amid new EU carbon regulations. San Ciprián smelter's turnaround and asset marketing to hyperscalers could unlock $500–1,000 million in incremental value and boost FY2027 EBITDA. Valuation is compelling: forward EV/EBITDA at 6.2x with catalysts for multiple expansion, though risks remain if supply normalizes and prices fall. While geopolitical normalization could cool pricing, forward EBITDA still appears too low relative to business improvements, leaving additional upside if current conditions persist for longer. Read the full article on Seeking Alpha
HCC
US$106.25
Warrior Met Coal
7D
26.6%
1Y
135.6%
CENX
US$63.91
Century Aluminum
7D
-1.8%
1Y
240.1%
EMAT
US$7.20
Evolution Metals & Technologies
7D
-9.9%
1Y
-36.9%
RGLD
US$217.86
Royal Gold
7D
-1.1%
1Y
16.7%
CTGO
US$19.65
Contango Silver & Gold
7D
-4.6%
1Y
-3.1%
SCCO
US$194.62
Southern Copper
7D
8.3%
1Y
118.4%
Narrative Update • May 26

SCCO: Premium Will Face Pressure From Expected Production Declines

Analysts have lifted the fair value estimate for Southern Copper from $67.81 to $125.74, while noting that a richer assumed future P/E of about 28 times and softer projected revenue and margin trends leave the stock looking expensive relative to recent price targets around $135 to $148 and comments about a stretched valuation. Analyst Commentary Recent Street research has leaned cautious on Southern Copper, with several bearish analysts flagging valuation concerns even as they acknowledge the company's strong position in global copper production and reserves.
NUE
US$251.49
Nucor
7D
8.4%
1Y
108.9%
STLD
US$261.59
Steel Dynamics
7D
9.0%
1Y
92.8%
TMCR
US$12.90
Metals Royalty
7D
-6.3%
1Y
n/a
ZKIN
US$1.32
ZK International Group
7D
-14.3%
1Y
-46.3%