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U.S. Metals and Mining Industry Analysis

UpdatedMay 06, 2026
DataAggregated Company Financials
Companies265
  • 7D-0.4%
  • 3M-5.4%
  • 1Y82.1%
  • YTD12.5%

Last week, the Metals and Mining industry hasn't moved much but Nucor is up 3.1% in that time. As for the the longer term, the industry is up 82% over the past 12 months. Looking forward, 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
Wed, 06 May 2026US$760.0bUS$265.9bUS$30.3b23.2x25.1x2.9x
Fri, 03 Apr 2026US$781.6bUS$255.7bUS$25.6b22x30.6x3.1x
Sun, 01 Mar 2026US$896.8bUS$255.1bUS$25.8b23.5x34.8x3.5x
Tue, 27 Jan 2026US$832.3bUS$249.1bUS$23.0b26x36.1x3.3x
Thu, 25 Dec 2025US$689.4bUS$248.6bUS$22.5b26.4x30.6x2.8x
Sat, 22 Nov 2025US$563.6bUS$248.2bUS$22.5b21.2x25x2.3x
Mon, 20 Oct 2025US$597.9bUS$242.2bUS$20.1b25.3x29.7x2.5x
Wed, 17 Sep 2025US$554.8bUS$244.8bUS$20.3b23.6x27.3x2.3x
Fri, 15 Aug 2025US$503.1bUS$244.5bUS$20.5b22x24.5x2.1x
Sun, 13 Jul 2025US$478.6bUS$241.1bUS$18.0b23x26.5x2x
Tue, 10 Jun 2025US$453.2bUS$259.2bUS$17.8b21.7x25.4x1.7x
Thu, 08 May 2025US$434.0bUS$258.8bUS$18.2b21.4x23.9x1.7x
Sat, 05 Apr 2025US$402.9bUS$262.9bUS$16.8b18.5x23.9x1.5x
Mon, 03 Mar 2025US$411.7bUS$263.2bUS$17.2b20.9x23.9x1.6x
Wed, 29 Jan 2025US$402.4bUS$262.5bUS$11.5b16.5x35.1x1.5x
Fri, 27 Dec 2024US$393.8bUS$265.9bUS$12.5b15.4x31.5x1.5x
Sun, 24 Nov 2024US$443.3bUS$266.0bUS$12.4b19.3x35.7x1.7x
Tue, 22 Oct 2024US$476.5bUS$267.1bUS$11.2b14.8x42.6x1.8x
Thu, 19 Sep 2024US$432.2bUS$267.5bUS$11.3b14.1x38.2x1.6x
Sat, 17 Aug 2024US$434.7bUS$267.1bUS$11.5b13.6x37.9x1.6x
Mon, 15 Jul 2024US$463.5bUS$266.5bUS$12.8b13.9x36.3x1.7x
Wed, 12 Jun 2024US$437.8bUS$266.6bUS$13.0b14.5x33.7x1.6x
Fri, 10 May 2024US$446.3bUS$266.8bUS$13.0b13.3x34.2x1.7x
Sun, 07 Apr 2024US$454.7bUS$266.3bUS$15.7b14.6x29x1.7x
Tue, 05 Mar 2024US$389.2bUS$266.5bUS$16.0b14.2x24.4x1.5x
Thu, 01 Feb 2024US$394.1bUS$276.7bUS$18.8b16.2x21x1.4x
Sat, 30 Dec 2023US$417.5bUS$278.9bUS$19.4b17.7x21.5x1.5x
Mon, 27 Nov 2023US$367.3bUS$280.1bUS$20.0b15.3x18.4x1.3x
Wed, 25 Oct 2023US$330.5bUS$282.8bUS$22.1b11.6x15x1.2x
Fri, 22 Sep 2023US$345.5bUS$279.1bUS$21.3b12.1x16.2x1.2x
Sun, 20 Aug 2023US$351.1bUS$276.5bUS$21.7b13.8x16.2x1.3x
Tue, 18 Jul 2023US$366.4bUS$284.5bUS$26.0b13.4x14.1x1.3x
Thu, 15 Jun 2023US$345.6bUS$284.9bUS$26.3b12.3x13.2x1.2x
Sat, 13 May 2023US$332.8bUS$284.8bUS$26.4b11.8x12.6x1.2x
Price to Earnings Ratio

12.6x


Total Market Cap: US$332.8bTotal Earnings: US$26.4bTotal Revenue: US$284.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 26.9x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Metals and Mining industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 26.9x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 4.8% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.3% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the U.S. Materials industry?

US Market1.81%
Materials-0.21%
Metals and Mining-0.41%
Diversified Metals and Mining8.16%
Precious Metals and Minerals7.92%
Steel2.58%
Aluminum1.88%
Copper-0.14%
Gold-3.20%
Silver-4.44%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 23.7x.
    • Analysts expect its future annual earnings growth (21.8%) 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 44% over the next 5 years.
  • However this is lower than its past earnings growth rate of 86% per year.
  • In contrast, the Copper industry is expected to see its earnings grow by 9.0% 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
NUE NucorUS$232.073.1%
+US$1.6b		98.6%PE22.7x
STLD Steel DynamicsUS$237.464.6%
+US$1.5b		81.0%PE25x
MP MP MaterialsUS$68.0610.3%
+US$1.1b		175.7%PS44x
USAR USA Rare EarthUS$27.4220.4%
+US$1.0b		166.7%PS3638x
RS RelianceUS$372.042.7%
+US$490.9m		25.8%PE23.6x

Latest News

TX
US$48.42
Ternium
7D
13.2%
1Y
66.7%
AEM
US$189.81
Agnico Eagle Mines
7D
3.4%
1Y
61.8%
AU
US$98.60
AngloGold Ashanti
7D
9.0%
1Y
125.7%

AngloGold Ashanti: Ghana Scares The Market, But The Numbers Not So Much

May 05
STLD
US$241.85
Steel Dynamics
7D
7.8%
1Y
85.0%
MUX
US$21.15
McEwen
7D
-2.5%
1Y
160.5%

MUX: Future Upside Will Rely On 2025 EBITDA And Asset Stability

Analysts have increased McEwen Mining's average price target by $8 to $31, citing recently reported 2025 results and a view that the company's operating assets now appear to be on more stable footing. Analyst Commentary Recent research updates point to a more supportive tone around McEwen Mining, with several bullish analysts lifting their targets after reviewing the 2025 results and the current asset base.
NUE
US$234.22
Nucor
7D
5.3%
1Y
103.4%
HCC
US$87.54
Warrior Met Coal
7D
-2.8%
1Y
91.0%
NEM
US$115.10
Newmont
7D
7.0%
1Y
113.2%
MP
US$72.65
MP Materials
7D
18.5%
1Y
207.6%

MP: Texas Magnet Campus Will Support Margins While Shares Remain Fairly Valued

Analysts are keeping their $62.00 price target for MP Materials steady, citing largely unchanged fair value estimates along with small refinements to discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News MP Materials selected a 120-acre site in Northlake, Texas, to build its "10X" rare earth magnet manufacturing campus, located less than 10 miles from its existing Independence facility in Fort Worth (Key Developments).
CMCL
US$22.12
Caledonia Mining
7D
-3.2%
1Y
58.9%
CDE
US$18.75
Coeur Mining
7D
8.2%
1Y
227.2%

CDE: New Gold Acquisition And Higher Metal Prices Will Drive Upside

The analyst price target for Coeur Mining has been adjusted slightly from $27.65 to $27.55, as analysts factor in recent mixed quarterly results, shifts in profit margin assumptions, and updated views on gold and silver pricing that have led to both rating upgrades and downgrades across the Street. Analyst Commentary Street research on Coeur Mining has been active, with a mix of upgrades, downgrades, and new initiations that reflect differing views on how the company is positioned after its recent results and corporate developments.
FCX
US$57.68
Freeport-McMoRan
7D
-0.9%
1Y
52.1%

FCX: Grasberg Agreement And Production Cuts Will Limit Upside Despite Copper Strength

The analyst price target for Freeport-McMoRan has been raised from $36.50 to $48.50, reflecting updated views from recent research, where several firms lifted targets on revised metal price assumptions and copper demand expectations, while others cited mine production cuts and valuation concerns in more cautious calls. Analyst Commentary Recent research on Freeport-McMoRan shows a mix of supportive and cautious views, with some firms raising price targets and others trimming expectations or downgrading the shares.
NAMM
US$1.78
Namib Minerals
7D
-11.9%
1Y
-84.0%

Namib Minerals: Core Value Holds, But Restart Still Needs Proof

Apr 30
AA
US$63.06
Alcoa
7D
-0.2%
1Y
153.8%

AA: Higher Margin Outlook And Production Plans Will Support Future Upside

Analysts have lifted their price target for Alcoa to $73.87 from $72.48, reflecting updated expectations around potential revenue growth, profit margins, and a lower assumed future P/E multiple. What's in the News Alcoa reported first quarter 2026 production results, with Bauxite output of 9.1 mdmt compared with 9.5 mdmt a year earlier, Alumina production of 2,355 kmt in line with the prior year, and Aluminum production of 607 kmt compared with 564 kmt a year ago (Key Developments).
IE
US$12.79
Ivanhoe Electric
7D
-2.7%
1Y
107.6%
DC
US$5.38
Dakota Gold
7D
-2.4%
1Y
93.5%