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U.S. Metals and Mining Industry Analysis

UpdatedJun 15, 2026
DataAggregated Company Financials
Companies264
  • 7D4.5%
  • 3M4.2%
  • 1Y74.5%
  • YTD16.3%

Over the last 7 days, the Metals and Mining industry has risen 4.5%, driven by gains from Southern Copper of 11%. In the same time, Alcoa was down 6.4%. This takes the industry's 12 month performance to a gain of 75%. 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
Mon, 15 Jun 2026US$800.3bUS$269.2bUS$32.4b19.7x24.7x3x
Wed, 13 May 2026US$835.6bUS$269.3bUS$32.7b22.5x25.6x3.1x
Fri, 10 Apr 2026US$814.5bUS$255.7bUS$25.6b22.7x31.9x3.2x
Sun, 08 Mar 2026US$794.6bUS$255.2bUS$25.7b22.2x30.9x3.1x
Tue, 03 Feb 2026US$775.5bUS$250.8bUS$23.6b27.8x32.8x3.1x
Thu, 01 Jan 2026US$671.3bUS$248.5bUS$22.5b24.7x29.8x2.7x
Sat, 29 Nov 2025US$623.1bUS$248.3bUS$22.6b22.2x27.6x2.5x
Mon, 27 Oct 2025US$581.7bUS$244.4bUS$21.5b25.2x27.1x2.4x
Wed, 24 Sep 2025US$567.1bUS$244.8bUS$20.3b22.5x27.9x2.3x
Fri, 22 Aug 2025US$491.5bUS$244.5bUS$20.3b21.7x24.2x2x
Sun, 20 Jul 2025US$472.1bUS$241.2bUS$18.2b22.9x26x2x
Tue, 17 Jun 2025US$464.3bUS$259.2bUS$17.9b21.6x26x1.8x
Thu, 15 May 2025US$459.3bUS$272.4bUS$20.2b20.5x22.7x1.7x
Sat, 12 Apr 2025US$400.4bUS$263.0bUS$17.2b20.7x23.3x1.5x
Mon, 10 Mar 2025US$411.6bUS$263.3bUS$17.2b21.2x23.9x1.6x
Wed, 05 Feb 2025US$406.1bUS$262.0bUS$11.5b19.2x35.3x1.6x
Fri, 03 Jan 2025US$386.3bUS$265.8bUS$12.5b15x30.9x1.5x
Sun, 01 Dec 2024US$443.8bUS$266.2bUS$12.5b18.7x35.6x1.7x
Tue, 29 Oct 2024US$456.9bUS$269.1bUS$11.3b16.2x40.6x1.7x
Thu, 26 Sep 2024US$466.6bUS$267.6bUS$11.3b13.4x41.2x1.7x
Sat, 24 Aug 2024US$435.2bUS$267.3bUS$11.5b13.6x37.9x1.6x
Mon, 22 Jul 2024US$443.8bUS$267.0bUS$12.9b13.9x34.4x1.7x
Wed, 19 Jun 2024US$424.6bUS$266.7bUS$13.1b14.6x32.5x1.6x
Fri, 17 May 2024US$470.2bUS$266.9bUS$13.0b14.3x36.1x1.8x
Sun, 14 Apr 2024US$460.3bUS$266.1bUS$15.6b14x29.4x1.7x
Tue, 12 Mar 2024US$401.0bUS$266.7bUS$16.0b14x25.1x1.5x
Thu, 08 Feb 2024US$381.4bUS$264.8bUS$18.3b17x20.9x1.4x
Sat, 06 Jan 2024US$401.2bUS$278.4bUS$19.5b17.5x20.6x1.4x
Mon, 04 Dec 2023US$390.1bUS$283.5bUS$20.1b15.5x19.4x1.4x
Wed, 01 Nov 2023US$334.7bUS$279.0bUS$21.3b11.4x15.7x1.2x
Fri, 29 Sep 2023US$351.5bUS$283.6bUS$21.9b11.6x16x1.2x
Sun, 27 Aug 2023US$349.2bUS$276.4bUS$21.7b13.5x16.1x1.3x
Tue, 25 Jul 2023US$367.4bUS$281.8bUS$24.0b13.7x15.3x1.3x
Thu, 22 Jun 2023US$344.9bUS$285.0bUS$26.3b12.4x13.1x1.2x
Price to Earnings Ratio

13.1x


Total Market Cap: US$344.9bTotal Earnings: US$26.3bTotal Revenue: US$285.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 27.4x202420252026
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 27.4x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 7.3% 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 Market0.50%
Materials4.41%
Metals and Mining4.52%
Copper9.64%
Steel4.83%
Diversified Metals and Mining3.70%
Silver2.56%
Gold1.19%
Precious Metals and Minerals-2.70%
Aluminum-3.08%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 25.0x.
    • Analysts expect its future annual earnings growth (25.0%) 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 33% 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
SCCO Southern CopperUS$189.7911.3%
+US$16.1b		104.2%PE31.9x
FCX Freeport-McMoRanUS$68.417.0%
+US$6.5b		63.2%PE36.1x
NUE NucorUS$266.355.1%
+US$2.9b		118.9%PE26.1x
STLD Steel DynamicsUS$282.765.8%
+US$2.2b		114.0%PE29.7x
NEM NewmontUS$100.231.3%
+US$1.3b		72.5%PE12.6x

Latest News

STLD
US$282.76
Steel Dynamics
7D
5.8%
1Y
114.0%
Seeking Alpha • 2h

Steel Dynamics: AI Capex Falling Apart (Rating Downgrade)

Summary Steel Dynamics is now rated Hold, downgraded from Strong Buy due to valuation concerns despite continued operational excellence. STLD's nimble EAF-based model and vertical integration drive superior margins and justify a premium multiple, but the current P/E is 86% above its 5-year average. The AI Capex boom has fueled impressive EPS growth and a 115% stock run, but upside is now priced in and downside risk has increased. Current market expectations for STLD are high; any faltering in AI-driven steel demand could pressure earnings and valuation. Read the full article on Seeking Alpha
NEM
US$100.23
Newmont
7D
1.3%
1Y
72.5%
HYMC
US$25.76
Hycroft Mining Holding
7D
-2.2%
1Y
736.4%
SCCO
US$189.79
Southern Copper
7D
11.3%
1Y
104.2%
AU
US$86.30
AngloGold Ashanti
7D
2.2%
1Y
73.7%
NUE
US$266.35
Nucor
7D
5.1%
1Y
118.9%
USAR
US$21.99
USA Rare Earth
7D
-1.0%
1Y
57.4%
UAMY
US$7.04
United States Antimony
7D
-9.9%
1Y
142.8%
Narrative Update • Jun 11

UAMY: New Smelter Ramp And Federal Support Will Shape Critical Minerals Upside

Narrative Update on United States Antimony The analyst price target for United States Antimony is now framed around recent Street research, with one firm moving from $11.50 to $11.75 after updating its model following the Q1 report and another increasing its target by $2, as analysts factor in refreshed assumptions for discount rates, profit margins and future P/E expectations. Analyst Commentary Recent research around United States Antimony has centered on refreshed valuation models following the Q1 report, with bullish analysts adjusting price targets into the US$11.50 to US$11.75 range as they update assumptions for discount rates, profit margins and future P/E expectations.
AA
US$68.77
Alcoa
7D
-6.4%
1Y
137.1%
ABAT
US$3.38
American Battery Technology
7D
-11.1%
1Y
156.1%
HCC
US$98.11
Warrior Met Coal
7D
-0.8%
1Y
109.4%
CENX
US$61.19
Century Aluminum
7D
-3.3%
1Y
232.7%
Narrative Update • Jun 06

CENX: Section 232 Tariffs And Power Costs Will Support Future Cash Flows

Narrative Update: Century Aluminum Analysts have lifted their price targets on Century Aluminum by up to $18, citing updated supply and demand work that points to a wider projected aluminum supply deficit in 2026 and ongoing support from high electricity costs that keep alternative power uses, such as data centers, competitive. Analyst Commentary Recent Street research has focused on how a tighter aluminum supply outlook and high electricity costs could feed into Century Aluminum's earnings power and valuation over the next few years.
BVN
US$33.42
Compañía de Minas BuenaventuraA
7D
10.6%
1Y
101.8%
Narrative Update • Jun 06

BVN: Future Returns Will Be Driven By Repriced Long Term Earnings Power

Analysts have adjusted their view on Compañía de Minas Buenaventura, trimming the average price target by $2 following mixed research updates that reflect revised discount rate assumptions and modest tweaks to long term P/E expectations. Analyst Commentary Recent research on Compañía de Minas Buenaventura points in different directions, with one price target trimmed by US$2 and another raised by US$13.
FCX
US$68.41
Freeport-McMoRan
7D
7.0%
1Y
63.2%
Narrative Update • Jun 06

FCX: Copper Euphoria Will Be Capped By Prolonged Grasberg Production Constraints

Analysts have inched up the Fair Value estimate for Freeport-McMoRan by about $0.50, reflecting modest tweaks to revenue growth, profit margin, and future P/E assumptions. This move is supported by a wave of higher Street price targets and new Overweight ratings that highlight copper exposure as a key driver.
RS
US$413.43
Reliance
7D
4.3%
1Y
35.2%
Narrative Update • Jun 05

RS: Future Returns Will Depend On Sustained Buybacks Despite Overvaluation Concerns

Analysts have slightly raised their price target on Reliance from about $357.75 to roughly $359.57, citing marginally higher assumptions for revenue growth and profit margins, as well as a small adjustment to the discount rate and future P/E expectations. What's in the News Reliance, Inc.
TMCR
US$9.34
Metals Royalty
7D
-18.8%
1Y
n/a