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U.S. Metals and Mining Industry Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies271
  • 7D-3.7%
  • 3M32.5%
  • 1Y110.9%
  • YTD23.6%

Over the last 7 days, the Metals and Mining industry has dropped 2.9%, driven by Newmont declining 4.5%. In the past year, the industry has gained 123%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 24 Aug 2023US$356.4bUS$276.5bUS$21.7b13.7x16.4x1.3x
Sat, 22 Jul 2023US$362.9bUS$281.8bUS$24.0b13.5x15.1x1.3x
Mon, 19 Jun 2023US$347.8bUS$285.0bUS$26.3b12.4x13.2x1.2x
Wed, 17 May 2023US$330.6bUS$284.8bUS$26.3b11.7x12.6x1.2x
Fri, 14 Apr 2023US$373.0bUS$293.4bUS$30.7b11.5x12.1x1.3x
Sun, 12 Mar 2023US$348.2bUS$293.2bUS$31.0b8.6x11.2x1.2x
Price to Earnings Ratio

11.2x


Total Market Cap: US$348.2bTotal Earnings: US$31.0bTotal Revenue: US$293.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 25.9x202420252026
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 35.2x which is higher than its 3-year average PE of 25.9x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 6.1% 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 Market-1.22%
Materials-2.92%
Metals and Mining-3.71%
Steel-0.64%
Aluminum-2.79%
Diversified Metals and Mining-3.42%
Copper-4.05%
Precious Metals and Minerals-4.38%
Gold-4.44%
Silver-6.71%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 15.6x.
    • Analysts are expecting annual earnings growth of 18.3%, which is lower than the prior year's growth of 811.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 56% over the next 5 years.
  • However this is lower than its past earnings growth rate of 104% per year.
  • In contrast, the Copper industry is expected to see its earnings grow by 8.2% 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
MP MP MaterialsUS$61.615.0%
+US$549.8m		140.1%PS39.7x
NUE NucorUS$176.070.3%
+US$134.4m		32.9%PE23.1x
AUGO Aura MineralsUS$86.191.8%
+US$127.0m		474.2%PS7.8x
STLD Steel DynamicsUS$193.911.2%
+US$124.1m		51.8%PE23.7x
CSTM ConstelliumUS$26.632.5%
+US$86.4m		145.0%PE13.2x

Latest News

SCCO
US$206.66
Southern Copper
7D
-4.0%
1Y
136.9%
NUE
US$176.07
Nucor
7D
0.3%
1Y
32.9%
AA
US$61.55
Alcoa
7D
-5.2%
1Y
90.1%

AA: Production Guidance And Margin Assumptions Will Shape Balanced Future Returns

Analysts have nudged their Alcoa price target slightly higher to $61.42 from $61.08, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and a modestly higher future P/E multiple. What's in the News Alcoa issued 2026 production guidance for its Alumina segment, with expected production between 9.7 million and 9.9 million metric tons and shipments between 11.8 million and 12.0 million metric tons, reflecting the use of trading volumes and externally sourced alumina to meet customer contracts (Corporate guidance).
UAMY
US$9.68
United States Antimony
7D
5.8%
1Y
572.2%
AU
US$113.14
AngloGold Ashanti
7D
-9.1%
1Y
261.6%

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

Analysts have kept their price target on AngloGold Ashanti broadly in line with prior estimates, reflecting only minor tweaks to assumptions such as discount rate, revenue growth and future P/E, rather than a major change in their overall view. What's in the News AngloGold Ashanti declared an interim dividend of 173 US cents per share for the three months ended 31 December 2025.
STLD
US$193.91
Steel Dynamics
7D
1.2%
1Y
51.8%
HL
US$21.76
Hecla Mining
7D
-6.6%
1Y
295.6%

HL: Updated Production Outlook And Index Inclusion Will Support Bullish Thesis

Analysts have trimmed their price target on Hecla Mining to $36.50, citing updated assumptions for revenue growth, profit margins, and a slightly higher future P/E multiple that together point to a more measured outlook for the shares. What's in the News Hecla issued consolidated earnings guidance for 2026, including expected silver production of 15.1 million to 16.5 million ounces and consolidated gold production of 65,000 to 72,000 ounces, with 14,000 to 17,000 ounces from Casa Berardi in the first quarter (company guidance).
FCX
US$65.93
Freeport-McMoRan
7D
-4.2%
1Y
72.8%
AMR
US$182.69
Alpha Metallurgical Resources
7D
4.1%
1Y
37.4%
SXC
US$6.39
SunCoke Energy
7D
10.4%
1Y
-28.8%
MP
US$61.61
MP Materials
7D
5.0%
1Y
140.1%
AUGO
US$86.19
Aura Minerals
7D
1.8%
1Y
474.2%
AEM
US$232.73
Agnico Eagle Mines
7D
-3.3%
1Y
133.8%
CDE
US$23.76
Coeur Mining
7D
-3.4%
1Y
323.5%
CSTM
US$26.63
Constellium
7D
2.5%
1Y
145.0%
NEM
US$119.37
Newmont
7D
-4.4%
1Y
172.2%