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U.S. Metals and Mining Industry Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies270
  • 7D-6.9%
  • 3M3.7%
  • 1Y57.1%
  • YTD7.7%

Over the last 7 days, the Metals and Mining industry has dropped 6.9%, driven by a pullback from Southern Copper of 9.4%. Over the past 12 months, the industry was up 57%. 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
Sat, 27 Jun 2026US$730.4bUS$269.6bUS$32.5b19.4x22.5x2.7x
Mon, 25 May 2026US$784.4bUS$269.2bUS$32.5b18.4x24.1x2.9x
Wed, 22 Apr 2026US$837.0bUS$256.7bUS$25.9b22.8x32.3x3.3x
Fri, 20 Mar 2026US$727.2bUS$255.2bUS$25.5b20.5x28.5x2.8x
Sun, 15 Feb 2026US$833.5bUS$250.5bUS$24.9b25.3x33.4x3.3x
Tue, 13 Jan 2026US$750.0bUS$248.6bUS$22.9b26.7x32.8x3x
Thu, 11 Dec 2025US$633.2bUS$248.4bUS$22.5b22.8x28.1x2.5x
Sat, 08 Nov 2025US$567.4bUS$247.1bUS$22.4b21.6x25.3x2.3x
Mon, 06 Oct 2025US$582.7bUS$242.4bUS$19.9b24.6x29.3x2.4x
Wed, 03 Sep 2025US$519.0bUS$244.5bUS$20.3b22.5x25.5x2.1x
Fri, 01 Aug 2025US$461.7bUS$243.4bUS$20.0b20.8x23.1x1.9x
Sun, 29 Jun 2025US$459.3bUS$243.8bUS$17.7b21.9x25.9x1.9x
Tue, 27 May 2025US$435.0bUS$259.1bUS$17.8b20.1x24.4x1.7x
Thu, 24 Apr 2025US$425.7bUS$263.5bUS$17.6b21.1x24.2x1.6x
Sat, 22 Mar 2025US$438.8bUS$262.9bUS$16.9b23.7x26x1.7x
Mon, 17 Feb 2025US$429.9bUS$263.1bUS$12.8b21.6x33.7x1.6x
Wed, 15 Jan 2025US$405.6bUS$265.7bUS$12.1b15.2x33.5x1.5x
Fri, 13 Dec 2024US$438.4bUS$266.1bUS$12.5b18.4x35.1x1.6x
Sun, 10 Nov 2024US$459.4bUS$267.3bUS$12.5b19.5x36.7x1.7x
Tue, 08 Oct 2024US$466.2bUS$267.5bUS$11.3b13.9x41.3x1.7x
Thu, 05 Sep 2024US$419.8bUS$267.4bUS$11.4b13x36.8x1.6x
Sat, 03 Aug 2024US$435.9bUS$266.5bUS$11.2b13.6x38.9x1.6x
Mon, 01 Jul 2024US$433.2bUS$266.4bUS$13.0b13.3x33.4x1.6x
Wed, 29 May 2024US$459.5bUS$267.0bUS$13.0b14.7x35.2x1.7x
Fri, 26 Apr 2024US$446.2bUS$267.7bUS$14.7b13.4x30.4x1.7x
Sun, 24 Mar 2024US$423.6bUS$266.6bUS$15.8b14.2x26.9x1.6x
Tue, 20 Feb 2024US$385.3bUS$264.8bUS$17.2b16.1x22.4x1.5x
Thu, 18 Jan 2024US$377.2bUS$278.1bUS$19.4b17.1x19.5x1.4x
Sat, 16 Dec 2023US$397.4bUS$278.8bUS$19.4b16.1x20.5x1.4x
Mon, 13 Nov 2023US$345.6bUS$279.7bUS$20.0b13.9x17.3x1.2x
Wed, 11 Oct 2023US$351.4bUS$283.5bUS$21.9b11.4x16x1.2x
Fri, 08 Sep 2023US$355.2bUS$279.0bUS$21.4b12.6x16.6x1.3x
Sun, 06 Aug 2023US$367.7bUS$277.5bUS$22.0b14.2x16.7x1.3x
Tue, 04 Jul 2023US$356.3bUS$284.1bUS$26.0b13x13.7x1.3x
Price to Earnings Ratio

13.7x


Total Market Cap: US$356.3bTotal Earnings: US$26.0bTotal Revenue: US$284.1bTotal 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 22.5x 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 2.7x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 7.7% 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-2.68%
Materials-1.84%
Metals and Mining-6.89%
Steel0.0043%
Silver-4.79%
Precious Metals and Minerals-5.72%
Aluminum-7.96%
Gold-8.19%
Diversified Metals and Mining-9.03%
Copper-9.10%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 25.3x.
    • Analysts expect its future annual earnings growth (23.7%) 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 35% 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 8.3% 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
MTRN MaterionUS$287.024.4%
+US$250.4m		255.4%PE78x
KALU Kaiser AluminumUS$187.172.4%
+US$71.6m		131.2%PE19.8x
AUGO Aura MineralsUS$64.080.8%
+US$45.2m		149.1%PE60.3x
MTUS MetallusUS$19.933.2%
+US$25.8m		28.0%PE286.1x
CMP Compass Minerals InternationalUS$31.101.7%
+US$21.8m		55.3%PE183.8x

Latest News

MTRN
US$287.02
Materion
7D
4.4%
1Y
255.4%
FCX
US$62.45
Freeport-McMoRan
7D
-9.1%
1Y
42.4%
SCCO
US$171.26
Southern Copper
7D
-11.2%
1Y
73.4%
Seeking Alpha • 10h

Southern Copper: Strong, But Priced Assuming Everything Goes Right

Summary Southern Copper Corporation is rated a Hold, with recent share price gains reflecting fully priced-in optimism on copper prices and Tia Maria execution. SCCO’s financial strength is driven by surging copper, molybdenum, and silver prices, but production volumes remain largely flat outside Buenavista Zinc’s ramp-up. The Tia Maria project, expected to be operational in 2027, could add ~$4 per share in value if successful but faces legal and execution risks. Current valuation assumes sustained high copper prices and flawless Tia Maria delivery; any setbacks could significantly impact SCCO’s investment case. Read the full article on Seeking Alpha
AU
US$81.62
AngloGold Ashanti
7D
-10.2%
1Y
86.0%
Narrative Update • Jun 25

AU: Proposed $2b Buyback And Rich P/E Will Shape Future Returns

Analysts have reduced their price target for AngloGold Ashanti to $75.00, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What’s in the News for AngloGold Ashanti AngloGold Ashanti plc has proposed a share repurchase program of up to US$2b, subject to shareholder and regulatory approval, with the Board indicating the plan is intended to support shareholder value and reflect confidence in the company’s outlook.
MTUS
US$19.93
Metallus
7D
3.2%
1Y
28.0%
Narrative Update • Jun 25

MTUS: Future Returns Will Reflect Buybacks And Updated Margin Assumptions

Analysts have maintained their $21.00 price target on Metallus, citing updated assumptions around discount rate, revenue growth, profit margin, and future P/E that they view as supportive of the current valuation framework. What’s in the News for Metallus From January 1, 2026 to March 31, 2026, Metallus repurchased 277,178 shares for US$4.31 million, representing 0.67% of its shares, under its existing buyback program (source: Key Developments).
AA
US$54.10
Alcoa
7D
-8.9%
1Y
90.0%
NEM
US$96.13
Newmont
7D
-7.4%
1Y
69.4%
AEM
US$157.23
Agnico Eagle Mines
7D
-5.7%
1Y
35.4%
AUGO
US$64.08
Aura Minerals
7D
0.8%
1Y
149.1%
Seeking Alpha • Jun 20

Aura Minerals: The Price Collapse Created A Golden Opportunity (Rating Upgrade)

Summary Aura Minerals Inc. is upgraded to a Strong Buy despite a 35% price drop, as fundamentals and long-term prospects remain intact. Recent headwinds—geopolitical events, copper preference, and weak Q1 results—created operational and cost pressures, but are seen as temporary and largely controllable. AUGO stock valuation remains attractive: 5Y DCF suggests 45.6% upside, P/NAV analysis indicates 28.7% upside, and a 37% average upside supports the strong buy rating. Key catalysts include potential GDX ETF inclusion, increased dividends, a $200M buyback, and favorable gold seasonality in H2, though operational and gold price risks persist. Read the full article on Seeking Alpha
CDE
US$16.02
Coeur Mining
7D
-8.5%
1Y
83.9%
Narrative Update • Jun 18

CDE: Index Inclusion And Buyback Program Will Support Future Stock Rerating

Analysts reduced their price target for Coeur Mining stock slightly to about $27.27 from $27.55, citing updated assumptions around revenue growth, profit margins and future P/E multiples following recent research updates across the Street. Analyst Commentary Recent research on Coeur Mining highlights a mix of optimism and caution, with several firms updating ratings and targets as they reassess production plans, free cash flow potential and appropriate P/E multiples for the stock.
CMP
US$31.10
Compass Minerals International
7D
1.7%
1Y
55.3%
Narrative Update • Jun 17

CMP: Fair Outlook Will Depend On Utah Lithium Project Progress

Analysts kept their $31.00 price target on Compass Minerals International steady, citing relatively unchanged assumptions for fair value, revenue growth, profit margin, and future P/E, along with only slight adjustments to the discount rate. What's in the News for Compass Minerals International Energy Exploration Technologies Inc.
CLF
US$9.95
Cleveland-Cliffs
7D
-19.0%
1Y
34.1%
Narrative Update • Jun 14

CLF: Higher Leverage And Tariff Shift Will Pressure Future Returns

Analysts have shifted their view on Cleveland-Cliffs with a higher blended price target near $13 to $14, supported by updated steel price assumptions, expectations for firmer Q2 and second half demand, and modestly higher modeled margins, even as some still flag leverage as a constraint on the stock's P/E multiple. Analyst Commentary Recent research on Cleveland-Cliffs reflects a mix of constructive and cautious views, with several firms updating steel price assumptions, earnings models, and valuation frameworks ahead of sector guidance and mid-quarter previews.
HLP
US$0.54
Hongli Group
7D
23.0%
1Y
-30.6%
GORO
US$1.40
Gold Resource
7D
5.3%
1Y
154.5%
TG
US$8.35
Tredegar
7D
7.3%
1Y
-6.9%
KALU
US$187.17
Kaiser Aluminum
7D
2.4%
1Y
131.2%
Seeking Alpha • May 05

Kaiser Aluminum: Dangerous Valuation In May 2026

Summary Kaiser Aluminum is rated 'HOLD' due to excessive valuation above $170/share, despite strong recent results and sector tailwinds. KALU's 1Q26 saw record EPS, margin improvements, and leverage reduction to 2.8x, driven by packaging demand, aerospace recovery, and reshoring trends. The company’s specialization in value-added products and recycled feedstock limits commodity exposure but does not eliminate volatility or credit risk. My fair value target is $115/share, reflecting a more conservative 15-18x P/E multiple to account for KALU’s historical earnings volatility and sub-investment grade credit. Read the full article on Seeking Alpha