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U.S. Metals and Mining Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies261
  • 7D6.4%
  • 3M11.0%
  • 1Y106.2%
  • YTD21.1%

Over the last 7 days, the Metals and Mining industry has risen 6.4%, driven by gains from Southern Copper of 8.3%. During this same period, the One and one Green Technologies underperformed, falling 61%. This takes the industry's 12 month performance to a gain of 106%. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026US$819.8bUS$255.7bUS$25.6b22.8x32.1x3.2x
Mon, 09 Mar 2026US$794.6bUS$255.2bUS$25.7b22.2x30.9x3.1x
Wed, 04 Feb 2026US$785.4bUS$250.8bUS$23.6b27.2x33.2x3.1x
Fri, 02 Jan 2026US$662.3bUS$248.5bUS$22.5b24.7x29.4x2.7x
Sun, 30 Nov 2025US$623.7bUS$248.3bUS$22.6b22.2x27.6x2.5x
Tue, 28 Oct 2025US$581.1bUS$244.4bUS$21.5b25.7x27.1x2.4x
Thu, 25 Sep 2025US$568.0bUS$244.8bUS$20.3b23x27.9x2.3x
Sat, 23 Aug 2025US$495.8bUS$244.5bUS$20.3b23.3x24.4x2x
Mon, 21 Jul 2025US$472.1bUS$241.2bUS$18.2b22.9x26x2x
Wed, 18 Jun 2025US$467.7bUS$259.2bUS$17.8b21.4x26.2x1.8x
Fri, 16 May 2025US$453.7bUS$272.4bUS$20.2b20.5x22.5x1.7x
Sun, 13 Apr 2025US$418.7bUS$263.0bUS$17.2b20.7x24.4x1.6x
Tue, 11 Mar 2025US$410.3bUS$263.3bUS$17.2b19.7x23.8x1.6x
Thu, 06 Feb 2025US$413.5bUS$262.0bUS$11.5b19.3x35.9x1.6x
Sat, 04 Jan 2025US$390.6bUS$265.8bUS$12.5b15.2x31.3x1.5x
Mon, 02 Dec 2024US$443.8bUS$266.2bUS$12.5b18.7x35.6x1.7x
Wed, 30 Oct 2024US$461.4bUS$269.1bUS$11.2b15.9x41x1.7x
Fri, 27 Sep 2024US$462.2bUS$267.6bUS$11.3b13.8x40.9x1.7x
Sun, 25 Aug 2024US$443.8bUS$267.3bUS$11.4b13.6x38.8x1.7x
Tue, 23 Jul 2024US$443.8bUS$267.0bUS$12.9b13.8x34.4x1.7x
Thu, 20 Jun 2024US$428.1bUS$266.7bUS$13.1b14.6x32.8x1.6x
Sat, 18 May 2024US$464.0bUS$267.0bUS$13.0b13.6x35.6x1.7x
Mon, 15 Apr 2024US$452.6bUS$266.1bUS$15.6b14x28.9x1.7x
Wed, 13 Mar 2024US$401.0bUS$266.7bUS$16.0b14x25.1x1.5x
Fri, 09 Feb 2024US$382.2bUS$264.8bUS$18.2b16.3x21x1.4x
Sun, 07 Jan 2024US$400.5bUS$278.5bUS$19.5b17.5x20.6x1.4x
Tue, 05 Dec 2023US$390.1bUS$283.4bUS$20.1b16x19.4x1.4x
Thu, 02 Nov 2023US$334.8bUS$280.1bUS$20.4b12.8x16.4x1.2x
Sat, 30 Sep 2023US$351.5bUS$283.6bUS$21.9b11.6x16x1.2x
Mon, 28 Aug 2023US$349.2bUS$276.4bUS$21.7b13.5x16.1x1.3x
Wed, 26 Jul 2023US$378.1bUS$279.2bUS$22.7b14.1x16.7x1.4x
Fri, 23 Jun 2023US$345.3bUS$284.6bUS$26.0b12.4x13.3x1.2x
Sun, 21 May 2023US$331.1bUS$284.7bUS$26.3b12.1x12.6x1.2x
Tue, 18 Apr 2023US$367.5bUS$293.3bUS$30.8b11.2x11.9x1.3x
Price to Earnings Ratio

11.9x


Total Market Cap: US$367.5bTotal Earnings: US$30.8bTotal Revenue: US$293.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 26.5x202420252026
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 32.1x which is higher than its 3-year average PE of 26.5x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 6.0% per year over the last three years,
  • Revenues have also declined 4.5% 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 Market3.31%
Materials3.96%
Metals and Mining6.35%
Copper9.10%
Gold5.79%
Steel5.23%
Aluminum4.17%
Diversified Metals and Mining2.12%
Silver1.44%
Precious Metals and Minerals-2.90%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 22.7x.
    • Analysts are expecting annual earnings growth of 24.0%, which is higher than its past year's earnings decline of 14.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 37% over the next 5 years.
  • However this is lower than its past earnings growth rate of 93% per year.
  • In contrast, the Aluminum industry is expected to see its earnings grow by 10% 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$192.568.3%
+US$12.2b		136.1%PE36.7x
FCX Freeport-McMoRanUS$67.8010.5%
+US$9.2b		103.3%PE44.4x
NEM NewmontUS$120.906.0%
+US$6.5b		119.9%PE18.3x
AEM Agnico Eagle MinesUS$218.754.9%
+US$5.1b		85.9%PE24.6x
AU AngloGold AshantiUS$109.257.9%
+US$4.1b		155.3%PE21x

Latest News

HCC
US$88.35
Warrior Met Coal
7D
-6.9%
1Y
86.5%
SIM
US$29.00
Grupo Simec. de
7D
-5.8%
1Y
12.6%
METC
US$13.55
Ramaco Resources
7D
-12.6%
1Y
55.7%
STLD
US$190.57
Steel Dynamics
7D
5.8%
1Y
58.3%

STLD: Tariff Policy And 2026 Outlook Will Shape Earnings And Capacity Use

Analysts trimmed their price target on Steel Dynamics by about $5 to reflect updated assumptions for slightly higher revenue growth, a lower profit margin and a higher future P/E, while recent Street research highlights mixed rating changes and refreshed 2026 outlooks for U.S. carbon steel equities. Analyst Commentary Recent research on Steel Dynamics offers a mix of optimism and caution, with analysts updating ratings and price targets as they refresh multi year views on U.S. carbon steel equities and factor in tariff and capacity trends.
SCCO
US$192.56
Southern Copper
7D
8.3%
1Y
136.1%

SCCO: Rich Margins And Cash Returns Will Likely Limit Overheated Upside

Analysts have adjusted the price target for Southern Copper slightly higher to $153 from about $150, reflecting updated fair value estimates, a modestly higher assumed future P/E, and a higher discount rate after a mix of recent target hikes and downgrades across the Street. Analyst Commentary Recent Street research around Southern Copper shows a split view, with some firms lifting price targets on stronger valuation cases and others turning more cautious on execution and near term fundamentals.
NEM
US$120.90
Newmont
7D
6.0%
1Y
119.9%

NEM: Higher Gold Price Hopes And New CEO Agenda Will Strain Expectations

Narrative Update: Newmont The analyst price target for Newmont has been cut by about $2.80 to $89.56 as analysts balance a higher discount rate and softer revenue growth expectations with stronger projected profit margins and a lower future P/E, informed by recent mixed price target revisions across the Street. Analyst Commentary Recent research on Newmont reflects a wide range of price targets, with some firms setting figures well above US$150 and others trimming estimates.
FCX
US$67.80
Freeport-McMoRan
7D
10.5%
1Y
103.3%

FCX: Copper Upswing And Grasberg Agreement Will Shape Balanced Future Returns

Narrative Update The updated analyst price target for Freeport-McMoRan reflects a modest adjustment in fair value to $67.40. This is supported by recent research that cites higher copper price assumptions, Grasberg clarity in Indonesia, and a series of price target revisions across the Street.
AMR
US$192.52
Alpha Metallurgical Resources
7D
-8.0%
1Y
62.2%

AMR: Heavy Buybacks And Expected Quarterly Loss Will Shape Future Returns

Analysts have kept Alpha Metallurgical Resources' average price target steady at $207.00, citing updated assumptions for revenue growth, profit margins, the discount rate, and future P/E. They view these assumptions as broadly consistent with prior expectations.
AEM
US$218.75
Agnico Eagle Mines
7D
4.9%
1Y
85.9%

AEM: Exploration Program And Dividend Increases Will Drive Future Senior Gold Repricing

Analysts have trimmed the average price target for Agnico Eagle Mines by $30. This reflects updated metal price forecasts, refreshed company models, and a mix of recent rating changes across the coverage universe.
AUGO
US$101.97
Aura Minerals
7D
16.3%
1Y
447.6%
UAMY
US$8.36
United States Antimony
7D
-3.8%
1Y
199.6%
TMC
US$4.34
TMC the metals
7D
-5.4%
1Y
122.6%

U.S. Seabed Permitting And Brownsville Hub Will Reshape Future Critical Metals Supply

Catalysts About TMC the metals The Metals Company is developing deep seabed polymetallic nodule collection and onshore processing solutions focused on supplying critical battery and industrial metals. What are the underlying business or industry changes driving this perspective?
AU
US$109.25
AngloGold Ashanti
7D
7.9%
1Y
155.3%

AU: New Arthur Project And Dividend Stream Will Support Future Upside

Analysts now place AngloGold Ashanti's fair value at $121.86, up from $98. This reflects updated assumptions around revenue growth, profit margins, a slightly adjusted discount rate, and a lower future P/E multiple.
NUE
US$186.12
Nucor
7D
7.9%
1Y
67.3%
YDDL
US$5.16
One and one Green Technologies
7D
-61.2%
1Y
n/a
EMAT
US$7.93
Evolution Metals & Technologies
7D
-5.0%
1Y
-33.9%

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

Jan 24