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U.S. Metals and Mining Industry Analysis

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies265
  • 7D2.4%
  • 3M17.3%
  • 1Y43.0%
  • YTD61.5%

Over the last 7 days, the Metals and Mining industry has risen 2.4%, driven by gains from Southern Copper of 3.0%. Meanwhile, USA Rare Earth actually underperformed within the industry, shrinking 21% in the last week. This takes the industry's 12 month performance to a gain of 43%. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 26 Nov 2025US$572.9bUS$248.3bUS$22.5b21.2x25.4x2.3x
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
Tue, 07 Feb 2023US$373.0bUS$295.5bUS$35.5b7.8x10.5x1.3x
Thu, 05 Jan 2023US$334.7bUS$298.2bUS$37.9b6.5x8.8x1.1x
Sat, 03 Dec 2022US$343.6bUS$298.1bUS$38.0b6x9x1.2x
Price to Earnings Ratio

9x


Total Market Cap: US$343.6bTotal Earnings: US$38.0bTotal Revenue: US$298.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 23.9x202320242025
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 23.9x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 16% per year over the last three years,
  • Revenues have also declined 5.9% 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 Market2.41%
Materials2.80%
Metals and Mining2.39%
Precious Metals and Minerals7.40%
Silver6.51%
Aluminum6.34%
Steel4.74%
Copper2.87%
Gold1.05%
Diversified Metals and Mining-0.42%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 0.86x.
    • Analysts are expecting annual earnings growth of 21.8% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 66% over the next 5 years.
  • This is better than its past earnings growth rate of 33% per year.
  • In contrast, the Aluminum industry is expected to see its earnings grow by 10% 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$129.123.0%
+US$3.1b		34.2%PE27.7x
AU AngloGold AshantiUS$84.365.3%
+US$2.2b		233.4%PE18.9x
NUE NucorUS$156.255.2%
+US$1.8b		1.5%PE21.7x
FCX Freeport-McMoRanUS$41.072.7%
+US$1.5b		-5.5%PE28.6x
STLD Steel DynamicsUS$164.256.2%
+US$1.4b		14.4%PE21.3x

Latest News

CRML
US$7.33
Critical Metals
7D
-8.9%
1Y
9.2%
UAMY
US$5.79
United States Antimony
7D
-14.1%
1Y
632.8%
AU
US$84.36
AngloGold Ashanti
7D
5.3%
1Y
233.4%
AEM
US$165.87
Agnico Eagle Mines
7D
-0.4%
1Y
97.2%

AEM: Precious Metals Rally And Geopolitical Shifts Will Drive Upside Momentum

Agnico Eagle Mines' analyst price target has been raised from $188.80 to $194.19 per share. Analysts cite stronger gold prices and favorable market conditions as key drivers behind the upward revision.
RS
US$279.68
Reliance
7D
5.2%
1Y
-13.1%

RS: Ongoing Share Repurchases Will Sustain Future Shareholder Value Growth

Narrative Update on Reliance: Analyst Price Target Adjustment Analysts have raised Reliance's fair value estimate slightly from ₹322.75 to ₹323.13. This reflects marginal improvements in profit margin along with a modest adjustment in discount rate and growth expectations.
AA
US$39.20
Alcoa
7D
7.3%
1Y
-17.3%

AA: Measured Shifts in Operations and Partnerships Will Shape Future Performance

Narrative Update on Alcoa: Analyst Price Target Adjustment Analysts have slightly lowered their fair value estimate for Alcoa, revising the price target from $39.63 to $39.54 per share. This change reflects modest adjustments to outlooks on discount rate and growth assumptions.
CLF
US$12.35
Cleveland-Cliffs
7D
10.4%
1Y
2.5%
NEM
US$86.27
Newmont
7D
-0.4%
1Y
104.2%

NEM: Shares Will Advance As Gold Market Strength And Acquisition Potential Drive Upside

Newmont's analyst price target has been raised by analysts from approximately $103.42, reflecting optimism around valuation, production growth, and favorable sector trends. Analyst Commentary Analysts have recently provided updated perspectives on Newmont, resulting in a series of price target increases and rating changes.
STLD
US$164.25
Steel Dynamics
7D
6.2%
1Y
14.4%

STLD: Challenging Demand And Trade Risks Will Define Near-Term Performance

Analysts have slightly increased their average price target for Steel Dynamics by $0.83 to $167.42. They cite updated models and recent earnings, while highlighting ongoing valuation considerations and a persistently challenging demand environment.
SCCO
US$129.12
Southern Copper
7D
3.0%
1Y
34.2%

SCCO: Delays At Tia Maria Will Likely Limit Upside Despite Sector Momentum

Southern Copper's analyst price target has been marginally revised down from $118.88 to $117.76, as analysts factor in a higher discount rate and recent shifts in commodity price forecasts. Analyst Commentary Recent Street research reveals a wide range of analyst opinions on Southern Copper, highlighting both optimism regarding copper market dynamics and caution around execution and valuation challenges.
METC
US$16.10
Ramaco Resources
7D
-7.2%
1Y
26.1%

METC: Output Expected To Rise With Wyoming Rare Earths Development

Analysts have raised their price target for Ramaco Resources from $43.00 to $45.00. They cite strong potential from the Brook Mine’s rare earth elements and critical minerals, as well as favorable expansion prospects and strategic alignment with U.S. supply priorities.
NUE
US$156.25
Nucor
7D
5.2%
1Y
1.5%
USAR
US$12.10
USA Rare Earth
7D
-20.7%
1Y
12.3%
FCX
US$41.07
Freeport-McMoRan
7D
2.7%
1Y
-5.5%
BGL
US$3.16
Blue Gold
7D
-37.3%
1Y
-72.1%
SIM
US$28.99
Grupo Simec. de
7D
-3.5%
1Y
12.5%