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U.S. Metals and Mining Industry Analysis

UpdatedSep 19, 2026
DataAggregated Company Financials
Companies267
  • 7D-1.3%
  • 3M5.4%
  • 1Y48.4%
  • YTD22.4%

Over the last 7 days, the Metals and Mining industry has dropped 1.3%, driven by Newmont declining 2.7%. This takes the industry's 12 month performance to a gain of 48%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 19 Sep 2026US$860.4bUS$283.3bUS$37.3b19.9x23.1x3x
Mon, 17 Aug 2026US$834.2bUS$283.2bUS$37.3b21.3x22.4x2.9x
Wed, 15 Jul 2026US$713.7bUS$269.7bUS$32.2b18.9x22.2x2.6x
Fri, 12 Jun 2026US$736.1bUS$269.2bUS$32.4b20x22.7x2.7x
Sun, 10 May 2026US$800.7bUS$268.8bUS$32.5b19.4x24.7x3x
Tue, 07 Apr 2026US$780.2bUS$255.7bUS$25.6b21.5x30.5x3.1x
Thu, 05 Mar 2026US$849.1bUS$255.2bUS$25.7b23.4x33x3.3x
Sat, 31 Jan 2026US$850.6bUS$250.8bUS$23.6b27.4x36x3.4x
Mon, 29 Dec 2025US$696.0bUS$248.6bUS$22.5b26.7x30.9x2.8x
Wed, 26 Nov 2025US$592.8bUS$248.3bUS$22.5b21.7x26.3x2.4x
Fri, 24 Oct 2025US$579.4bUS$243.3bUS$20.4b24.9x28.4x2.4x
Sun, 21 Sep 2025US$561.7bUS$244.8bUS$20.3b23.4x27.6x2.3x
Tue, 19 Aug 2025US$499.0bUS$244.5bUS$20.3b21.6x24.6x2x
Thu, 17 Jul 2025US$466.8bUS$241.1bUS$18.0b22.2x25.9x1.9x
Sat, 14 Jun 2025US$460.1bUS$259.2bUS$17.8b21.2x25.8x1.8x
Mon, 12 May 2025US$431.5bUS$259.1bUS$17.9b20.6x24.1x1.7x
Wed, 09 Apr 2025US$376.0bUS$262.9bUS$16.8b17.8x22.3x1.4x
Fri, 07 Mar 2025US$414.6bUS$263.3bUS$17.2b21.4x24.1x1.6x
Sun, 02 Feb 2025US$406.0bUS$261.8bUS$11.5b18.7x35.3x1.6x
Tue, 31 Dec 2024US$390.3bUS$265.9bUS$12.5b15.3x31.2x1.5x
Thu, 28 Nov 2024US$441.2bUS$266.1bUS$12.4b19.1x35.5x1.7x
Sat, 26 Oct 2024US$459.1bUS$269.1bUS$11.3b15.4x40.8x1.7x
Mon, 23 Sep 2024US$444.2bUS$267.4bUS$11.3b13.6x39.2x1.7x
Wed, 21 Aug 2024US$439.9bUS$267.2bUS$11.5b13.4x38.3x1.6x
Fri, 19 Jul 2024US$458.5bUS$266.2bUS$12.5b14.1x36.7x1.7x
Sun, 16 Jun 2024US$424.9bUS$266.6bUS$13.1b14.1x32.6x1.6x
Tue, 14 May 2024US$461.1bUS$266.9bUS$13.0b13.4x35.3x1.7x
Thu, 11 Apr 2024US$463.1bUS$266.2bUS$15.7b14.3x29.6x1.7x
Sat, 09 Mar 2024US$399.0bUS$266.7bUS$16.0b13.9x25x1.5x
Mon, 05 Feb 2024US$389.2bUS$276.0bUS$18.2b16.2x21.4x1.4x
Wed, 03 Jan 2024US$407.7bUS$278.4bUS$19.5b17.8x20.9x1.5x
Fri, 01 Dec 2023US$376.5bUS$283.4bUS$20.1b14.9x18.8x1.3x
Sun, 29 Oct 2023US$305.7bUS$268.2bUS$22.2b11.6x13.8x1.1x
Tue, 26 Sep 2023US$347.0bUS$279.0bUS$21.3b12.2x16.3x1.2x
Price to Earnings Ratio

16.3x


Total Market Cap: US$347.0bTotal Earnings: US$21.3bTotal Revenue: US$279.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 28x202420252026
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 23.1x which is lower than its 3-year average PE of 28.0x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 20% 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 Market-0.18%
Materials-1.70%
Metals and Mining-1.31%
Copper1.10%
Gold-1.60%
Diversified Metals and Mining-2.43%
Steel-3.07%
Precious Metals and Minerals-3.28%
Silver-3.63%
Aluminum-7.36%
Industry PE
  • Investors are most optimistic about the Diversified Metals and Mining industry which is trading above its 3-year average PE ratio of 282x.
    • Analysts are expecting annual earnings growth of 32.6%, which is lower than the prior year's growth of 97.2% per year.
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 97% per year.
  • In contrast, the Aluminum industry is expected to see its earnings growth to stay flat 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$195.701.1%
+US$1.9b		85.0%PE29.2x
FCX Freeport-McMoRanUS$71.540.7%
+US$674.9m		59.2%PE35x
EMAT Evolution Metals & TechnologiesUS$4.0230.5%
+US$584.5m		-65.0%PS711.1x
CLF Cleveland-CliffsUS$12.503.6%
+US$251.0m		7.7%PS0.4x
AUGO Aura MineralsUS$88.251.3%
+US$98.1m		176.1%PE24.8x

Latest News

AUGO
US$88.25
Aura Minerals
7D
1.3%
1Y
176.1%
Seeking Alpha • 8h

Aura Minerals: Strong Gold Prices Lift The Outlook, But Execution Keeps The Shares At Hold

Summary Aura Minerals maintains a Hold rating, with a clear tilt toward Buy as production growth and earnings improve, but execution risks remain. Production guidance is achievable but heavily reliant on MSG and Apoena mines delivering significant H2 output increases and cost reductions. Gold collars limit upside from strong gold prices, while expansion CapEx and rising net debt constrain free cash flow despite robust operating performance. To justify a Buy, AUGO must meet production targets, reduce AISC to $1,720–1,865/GEO, and avoid a notable net debt increase amid ongoing investments. Read the full article on Seeking Alpha
STLD
US$235.26
Steel Dynamics
7D
-1.9%
1Y
68.9%
NUE
US$248.38
Nucor
7D
-4.3%
1Y
86.3%
EMAT
US$4.02
Evolution Metals & Technologies
7D
30.5%
1Y
-65.0%
HL
US$18.92
Hecla Mining
7D
-4.3%
1Y
72.6%
NEM
US$123.41
Newmont
7D
-2.7%
1Y
51.0%
SCCO
US$195.70
Southern Copper
7D
1.1%
1Y
85.0%
Narrative Update • Sep 17

SCCO: Elevated Profit Assumptions Will Confront Full Pricing And Tariff Uncertainty

Southern Copper's updated analyst price target moves from $128.50 to about $138.34. Analysts point to slightly firmer long term profitability assumptions and a higher future P/E multiple, despite a modestly higher discount rate and only small adjustments to revenue growth expectations.
CDE
US$19.76
Coeur Mining
7D
-4.0%
1Y
13.4%
Narrative Update • Sep 17

CDE: Second Half Production Ramp And Merger Synergies Will Drive Upside

The latest narrative update on Coeur Mining reflects a lower analyst price target, with fair value moving from about $37.21 to $32.53 as analysts factor in recent target cuts tied to softer Q2 results, a slower production ramp at new mines, and revised metal price assumptions. Analyst Commentary Recent Street research on Coeur Mining shows a mix of caution and optimism.
UROY
US$4.56
Uranium Royalty
7D
4.7%
1Y
22.9%
AA
US$44.43
Alcoa
7D
-7.9%
1Y
36.9%
FCX
US$71.54
Freeport-McMoRan
7D
0.7%
1Y
59.2%
Seeking Alpha • Sep 12

Freeport-McMoRan: The Copper-AI Supercycle And Big Risks

Summary Rising copper demand has pushed prices higher, benefiting copper producers, such as Freeport-McMoRan (it's up big this year). Despite powerful macro tailwinds (such as limited immediate supply and growing electrification/AI demands), there are big risks. This report reviews the big macroeconomic factors, as well as company-specific considerations (such as growth, valuation, and risks), and then concludes with a strong opinion on investing in Freeport McMoRan. Read the full article on Seeking Alpha
MP
US$47.26
MP Materials
7D
-6.4%
1Y
-35.5%
HLP
US$2.02
Hongli Group
7D
66.9%
1Y
92.4%
AU
US$103.29
AngloGold Ashanti
7D
-1.1%
1Y
52.3%
Narrative Update • Sep 10

AU: Rich P/E And Softer Production Will Restrain Future Returns

Analysts have modestly raised their price target for AngloGold Ashanti to $82 from about $79, citing updated assumptions for discount rates, revenue trends, profit margins and expectations for future P/E ratios. What’s in the News for AngloGold Ashanti AngloGold Ashanti reported gold production of 744,000 oz for the second quarter of 2026, compared with 804,000 oz a year earlier, and 1,468,000 oz for the first half of 2026, compared with 1,524,000 oz a year earlier.
CLF
US$12.50
Cleveland-Cliffs
7D
3.6%
1Y
7.7%
Narrative Update • Sep 07

CLF: Steel Pricing And Middletown Investment Will Shape Balanced Risk Reward

The analyst price target for Cleveland-Cliffs has moved from $11.65 to $12.00, reflecting updated views on steel pricing, cost trends, and volume expectations across recent research. Analyst Commentary Recent research on Cleveland-Cliffs shows a wide range of views, with price targets clustered around the low to mid teens and ratings spread from Buy through Underweight.
BVN
US$34.33
Compañía de Minas BuenaventuraA
7D
0.9%
1Y
64.2%
Narrative Update • Aug 06

BVN: Higher Q2 Production And Net Cash Position Will Support Upside

Analysts have lifted their fair value estimate for Compañía de Minas Buenaventura from $42.00 to $50.00, even as recent research reflects mixed views on gold and silver pricing and different price targets across firms. Analyst Commentary on Compañía de Minas Buenaventura Recent Street research on Compañía de Minas Buenaventura shows a mix of caution and optimism.