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U.S. Metals and Mining Industry Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies270
  • 7D-2.5%
  • 3M-7.3%
  • 1Y51.0%
  • YTD5.3%

Over the last 7 days, the Metals and Mining industry has dropped 2.5%, driven by Nucor declining 11%. In contrast, AngloGold Ashanti has gained 6.7%. Over the past 12 months, the industry was up 51%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026US$714.6bUS$269.7bUS$32.4b21.8x22.1x2.6x
Sun, 31 May 2026US$827.9bUS$269.2bUS$32.5b21.8x25.5x3.1x
Tue, 28 Apr 2026US$808.8bUS$260.4bUS$27.9b22.9x29x3.1x
Thu, 26 Mar 2026US$707.9bUS$255.2bUS$25.5b21.2x27.8x2.8x
Sat, 21 Feb 2026US$831.1bUS$253.5bUS$25.0b24.8x33.2x3.3x
Mon, 19 Jan 2026US$782.5bUS$248.6bUS$22.8b27x34.3x3.1x
Wed, 17 Dec 2025US$650.8bUS$248.4bUS$22.5b24.3x28.9x2.6x
Fri, 14 Nov 2025US$612.3bUS$248.2bUS$22.8b23.7x26.9x2.5x
Sun, 12 Oct 2025US$580.1bUS$242.4bUS$20.0b24.6x29x2.4x
Tue, 09 Sep 2025US$537.4bUS$244.5bUS$20.3b23.3x26.4x2.2x
Thu, 07 Aug 2025US$481.8bUS$244.4bUS$20.5b21.5x23.5x2x
Sat, 05 Jul 2025US$479.9bUS$243.9bUS$17.9b23.1x26.8x2x
Mon, 02 Jun 2025US$432.5bUS$259.1bUS$17.8b20x24.2x1.7x
Wed, 30 Apr 2025US$439.6bUS$264.6bUS$19.2b20.6x22.9x1.7x
Fri, 28 Mar 2025US$437.1bUS$262.9bUS$16.9b24.5x25.9x1.7x
Sun, 23 Feb 2025US$418.7bUS$264.3bUS$17.4b21.6x24x1.6x
Tue, 21 Jan 2025US$412.2bUS$263.0bUS$11.9b15.5x34.6x1.6x
Thu, 19 Dec 2024US$406.8bUS$265.9bUS$12.5b15.5x32.5x1.5x
Sat, 16 Nov 2024US$427.5bUS$266.8bUS$12.6b19x34x1.6x
Mon, 14 Oct 2024US$468.9bUS$267.4bUS$11.3b14.2x41.5x1.8x
Wed, 11 Sep 2024US$411.0bUS$267.3bUS$11.4b12.8x36.1x1.5x
Fri, 09 Aug 2024US$411.0bUS$267.2bUS$11.6b13x35.6x1.5x
Sun, 07 Jul 2024US$452.2bUS$266.4bUS$12.8b13.3x35.5x1.7x
Tue, 04 Jun 2024US$463.0bUS$266.9bUS$13.0b14.9x35.6x1.7x
Thu, 02 May 2024US$442.8bUS$267.4bUS$13.3b13x33.2x1.7x
Sat, 30 Mar 2024US$439.5bUS$266.5bUS$15.7b14.4x28x1.6x
Mon, 26 Feb 2024US$384.2bUS$265.0bUS$15.6b15.8x24.7x1.5x
Wed, 24 Jan 2024US$381.0bUS$278.0bUS$19.6b16.4x19.4x1.4x
Fri, 22 Dec 2023US$404.9bUS$278.9bUS$19.4b17.6x20.8x1.5x
Sun, 19 Nov 2023US$360.9bUS$280.1bUS$20.0b15.4x18.1x1.3x
Tue, 17 Oct 2023US$344.2bUS$283.2bUS$21.8b11.7x15.8x1.2x
Thu, 14 Sep 2023US$351.8bUS$279.2bUS$21.4b12.1x16.5x1.3x
Sat, 12 Aug 2023US$361.0bUS$277.0bUS$21.8b13.6x16.5x1.3x
Mon, 10 Jul 2023US$349.1bUS$284.2bUS$26.0b12.9x13.4x1.2x
Price to Earnings Ratio

13.4x


Total Market Cap: US$349.1bTotal Earnings: US$26.0bTotal Revenue: US$284.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 27.5x202420252026
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 22.1x which is lower than its 3-year average PE of 27.5x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 7.6% 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 Market1.38%
Materials-0.095%
Metals and Mining-2.50%
Silver8.07%
Gold1.99%
Precious Metals and Minerals-0.43%
Copper-2.08%
Diversified Metals and Mining-2.97%
Aluminum-7.91%
Steel-10.45%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 25.8x.
    • Analysts are expecting annual earnings growth of 26.3%, which is lower than the prior year's growth of 606.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 35% 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 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
AU AngloGold AshantiUS$84.656.7%
+US$2.7b		81.2%PE12.3x
NEM NewmontUS$97.041.8%
+US$1.8b		62.0%PE12.2x
CDE Coeur MiningUS$17.308.2%
+US$1.4b		89.7%PE22.4x
HL Hecla MiningUS$16.337.8%
+US$791.4m		169.0%PE23.7x
AUGO Aura MineralsUS$65.467.1%
+US$362.8m		153.7%PE61.6x

Latest News

AEM
US$153.86
Agnico Eagle Mines
7D
-1.5%
1Y
28.2%
AA
US$48.68
Alcoa
7D
-8.3%
1Y
56.3%
NEM
US$97.04
Newmont
7D
1.8%
1Y
62.0%
SCCO
US$172.01
Southern Copper
7D
-1.6%
1Y
68.6%
CDE
US$17.30
Coeur Mining
7D
8.2%
1Y
89.7%
Narrative Update • Jul 02

CDE: Future Cash Returns Anchor Bullish View On Q1 2026 Momentum

Analysts have raised their fair value estimate for Coeur Mining from $25.00 to about $37.21. This change reflects updated assumptions for revenue growth, profit margins, and future P/E, based on recent research that highlights higher expected production and potential free cash flow at current commodity prices.
FCX
US$60.97
Freeport-McMoRan
7D
-2.9%
1Y
33.1%
HL
US$16.33
Hecla Mining
7D
7.8%
1Y
169.0%
CMC
US$61.73
Commercial Metals
7D
-16.7%
1Y
17.8%
Narrative Update • Jul 01

CMC: Future Upside Will Be Driven By Record Earnings And Ongoing Buybacks

Analysts have raised their price target on Commercial Metals from $85.00 to $89.00, citing updated assumptions for long term revenue growth, profit margins, and future P/E levels used in their valuation analysis. What’s in the News for Commercial Metals Commercial Metals reported Q3 2026 revenue of US$2.48b and earnings per share of US$1.73, with both figures above consensus estimates by 4.88% and 8.13% respectively, according to recent earnings coverage.
MUX
US$18.90
McEwen
7D
9.1%
1Y
66.2%
Seeking Alpha • Jun 30

McEwen: When Copper Optionality Starts To Matter

Summary MUX gives investors exposure to Los Azules, a large and increasingly de‑risked copper project whose NPV is very sensitive to higher copper prices. The company’s gold portfolio (Gold Bar, Fox, San José and, soon, El Gallo) is already generating cash and is expected to drive steady production growth toward 2030. A potential IPO of McEwen Copper and a final investment decision on Los Azules are major upcoming catalysts that could help unlock more of the project’s value in the share. At current levels, the stock offers an attractive upside for long‑term investors as it trades at a meaningful discount to its gold operations and its stake in Los Azules. Read the full article on Seeking Alpha
RS
US$372.01
Reliance
7D
-8.3%
1Y
13.8%
SSMR
US$14.59
Sunshine Silver Mining & Refining
7D
9.8%
1Y
n/a
HYMC
US$23.62
Hycroft Mining Holding
7D
7.9%
1Y
652.2%
NUE
US$220.75
Nucor
7D
-11.3%
1Y
60.1%
AU
US$84.65
AngloGold Ashanti
7D
6.7%
1Y
81.2%
AUGO
US$65.46
Aura Minerals
7D
7.1%
1Y
153.7%
STLD
US$220.39
Steel Dynamics
7D
-12.2%
1Y
65.4%
Seeking Alpha • Jun 25

Steel Dynamics Offers Solid Fundamentals And A Potential Short-Term Buying Opportunity

Summary Steel Dynamics remains a hold, with a 10% further decline targeted as an attractive entry amid recent Q2 guidance and market volatility. STLD's Q1 saw revenues up 19% to $5.2B and net earnings doubling, driven by broad-based growth and a rapidly expanding aluminum segment. STLD's recycling-based model offers a structural cost advantage as energy prices rise, supporting long-term outperformance versus peers like Nippon Steel. I plan incremental buying if STLD declines by over 20% from highs, balancing downside risk with superior profitability and a forward P/E of 15. Read the full article on Seeking Alpha