Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Metals and Mining Industry Analysis

UpdatedJan 01, 2026
DataAggregated Company Financials
Companies275
  • 7D-4.0%
  • 3M13.6%
  • 1Y81.5%
  • YTD79.0%

Over the last 7 days, the Metals and Mining industry has dropped 4.0%, driven by pullbacks in Agnico Eagle Mines and Newmont of 6.5% and 4.7%, respectively. In the past year, the industry has gained 81%. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026US$671.3bUS$248.5bUS$22.5b24.7x29.8x2.7x
Sun, 30 Nov 2025US$623.7bUS$248.3bUS$22.6b22.2x27.6x2.5x
Tue, 28 Oct 2025US$581.1bUS$244.4bUS$21.5b25.7x27.1x2.4x
Thu, 25 Sep 2025US$568.0bUS$244.8bUS$20.3b23x27.9x2.3x
Sat, 23 Aug 2025US$495.8bUS$244.5bUS$20.3b23.3x24.4x2x
Mon, 21 Jul 2025US$472.1bUS$241.2bUS$18.2b22.9x26x2x
Wed, 18 Jun 2025US$467.7bUS$259.2bUS$17.8b21.4x26.2x1.8x
Fri, 16 May 2025US$453.7bUS$272.4bUS$20.2b20.5x22.5x1.7x
Sun, 13 Apr 2025US$418.7bUS$263.0bUS$17.2b20.7x24.4x1.6x
Tue, 11 Mar 2025US$410.3bUS$263.3bUS$17.2b19.7x23.8x1.6x
Thu, 06 Feb 2025US$413.5bUS$262.0bUS$11.5b19.3x35.9x1.6x
Sat, 04 Jan 2025US$390.6bUS$265.8bUS$12.5b15.2x31.3x1.5x
Mon, 02 Dec 2024US$443.8bUS$266.2bUS$12.5b18.7x35.6x1.7x
Wed, 30 Oct 2024US$461.4bUS$269.1bUS$11.2b15.9x41x1.7x
Fri, 27 Sep 2024US$462.2bUS$267.6bUS$11.3b13.8x40.9x1.7x
Sun, 25 Aug 2024US$443.8bUS$267.3bUS$11.4b13.6x38.8x1.7x
Tue, 23 Jul 2024US$443.8bUS$267.0bUS$12.9b13.8x34.4x1.7x
Thu, 20 Jun 2024US$428.1bUS$266.7bUS$13.1b14.6x32.8x1.6x
Sat, 18 May 2024US$464.0bUS$267.0bUS$13.0b13.6x35.6x1.7x
Mon, 15 Apr 2024US$452.6bUS$266.1bUS$15.6b14x28.9x1.7x
Wed, 13 Mar 2024US$401.0bUS$266.7bUS$16.0b14x25.1x1.5x
Fri, 09 Feb 2024US$382.2bUS$264.8bUS$18.2b16.3x21x1.4x
Sun, 07 Jan 2024US$400.5bUS$278.5bUS$19.5b17.5x20.6x1.4x
Tue, 05 Dec 2023US$390.1bUS$283.4bUS$20.1b16x19.4x1.4x
Thu, 02 Nov 2023US$334.8bUS$280.1bUS$20.4b12.8x16.4x1.2x
Sat, 30 Sep 2023US$351.5bUS$283.6bUS$21.9b11.6x16x1.2x
Mon, 28 Aug 2023US$349.2bUS$276.4bUS$21.7b13.5x16.1x1.3x
Wed, 26 Jul 2023US$378.1bUS$279.2bUS$22.7b14.1x16.7x1.4x
Fri, 23 Jun 2023US$345.3bUS$284.6bUS$26.0b12.4x13.3x1.2x
Sun, 21 May 2023US$331.1bUS$284.7bUS$26.3b12.1x12.6x1.2x
Tue, 18 Apr 2023US$367.5bUS$293.3bUS$30.8b11.2x11.9x1.3x
Thu, 16 Mar 2023US$332.7bUS$293.2bUS$31.0b7.8x10.7x1.1x
Sat, 11 Feb 2023US$365.5bUS$295.6bUS$35.5b7.7x10.3x1.2x
Mon, 09 Jan 2023US$350.7bUS$298.1bUS$37.9b7.2x9.3x1.2x
Price to Earnings Ratio

9.3x


Total Market Cap: US$350.7bTotal Earnings: US$37.9bTotal Revenue: US$298.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 24.6x202420252026
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 29.8x which is higher than its 3-year average PE of 24.6x.
  • The 3-year average PS ratio of 1.6x 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 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 Market-1.43%
Materials-2.00%
Metals and Mining-3.97%
Aluminum-0.84%
Steel-2.01%
Copper-2.78%
Silver-3.20%
Gold-5.28%
Precious Metals and Minerals-6.68%
Diversified Metals and Mining-8.94%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 6.0x.
    • Analysts are expecting annual earnings growth of 31.6% 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 67% over the next 5 years.
  • This is better than its past earnings growth rate of 33% per year.
  • In contrast, the Copper industry is expected to see its earnings grow by 9.4% 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
SIM Grupo Simec. deUS$29.661.1%
+US$50.7m		9.2%PE30.8x
MSB Mesabi TrustUS$38.526.9%
+US$32.8m		37.0%PE29.4x
SRL Scully RoyaltyUS$8.5525.9%
+US$26.8m		-7.6%PS5.1x
AP Ampco-PittsburghUS$5.3320.9%
+US$18.7m		155.0%PS0.3x
PZG Paramount Gold NevadaUS$1.266.8%
+US$6.3m		268.4%PB3.1x

Latest News

SRL
US$8.55
Scully Royalty
7D
25.9%
1Y
-7.6%
TX
US$38.19
Ternium
7D
0.08%
1Y
31.3%
FCX
US$50.79
Freeport-McMoRan
7D
-2.2%
1Y
33.4%

Freeport-McMoRan Inc.'s (NYSE:FCX) P/E Is Still On The Mark Following 26% Share Price Bounce

Dec 27
Freeport-McMoRan Inc.'s (NYSE:FCX) P/E Is Still On The Mark Following 26% Share Price Bounce
RGLD
US$222.29
Royal Gold
7D
-4.6%
1Y
68.6%
MP
US$50.52
MP Materials
7D
-7.4%
1Y
223.8%

MP: Saudi Refinery Venture Will Drive Future Profitability And Upside Potential

Analysts nudged their price target on MP Materials slightly higher to imply a fair value of approximately 79.29 dollars per share, as modest tweaks to the discount rate and long term profitability assumptions reinforced confidence in the company’s high growth, premium multiple profile. What's in the News Entered a binding joint venture with the U.S. Department of War and Saudi Arabia’s Maaden to develop a rare earth refinery in the Kingdom, expanding MP’s refining capacity and global footprint while supporting U.S. national security objectives (Key Developments) Confirmed guidance for a return to profitability starting in the fourth quarter of 2025 and beyond, signaling an inflection point in the earnings trajectory (Key Developments) Reported third quarter 2025 production with slightly lower total REO volumes year over year, along with a sharp increase in higher value NdPr output, highlighting improving product mix (Key Developments) Announced a multibillion dollar public private partnership with the U.S. Department of Defense to build a second U.S. magnet manufacturing facility, targeting total domestic magnet capacity of about 10,000 metric tons and added heavy rare earth separation at Mountain Pass (Key Developments) Completed its previously announced share repurchase program, retiring over 15.2 million shares for approximately 225 million dollars, or about 8.7% of shares outstanding (Key Developments) Valuation Changes Fair Value Estimate remains unchanged at approximately 79.29 dollars per share, indicating no material shift in the intrinsic value assessment.
STLD
US$169.45
Steel Dynamics
7D
-3.4%
1Y
48.5%
AEM
US$169.53
Agnico Eagle Mines
7D
-6.5%
1Y
116.8%

AEM: Gold Rally And Geopolitical Uncertainty Will Shape Balanced Future Outlook

Agnico Eagle Mines' analyst price target has inched higher from approximately $195 to about $197 per share as analysts factor in stronger revenue growth assumptions, slightly improved margins, and a supportive outlook for precious metal prices amid ongoing macroeconomic and geopolitical uncertainty. Analyst Commentary Recent Street research has turned more constructive on Agnico Eagle Mines, with multiple firms lifting price targets to reflect stronger precious metals pricing, improving capital allocation, and a more supportive macro backdrop for gold and silver.
SXC
US$7.20
SunCoke Energy
7D
0.6%
1Y
-32.7%

SXC: Industrial Services Expansion Will Drive Stronger EBITDA Despite Volume Headwinds

Analysts trimmed their price target on SunCoke Energy from $11.00 to $10.00, citing a balance between stronger than expected Q3 EBITDA and higher 2025 guidance, as well as lingering concerns around softer logistics and Domestic Coke volumes and near term integration costs. Analyst Commentary Street research highlights a mixed outlook on SunCoke Energy, with analysts balancing stronger than expected Q3 performance and upgraded 2025 guidance against operational and integration headwinds.
NEM
US$99.85
Newmont
7D
-4.7%
1Y
168.3%

NEM: Future Barrick Dealmaking Will Likely Erode Already Stretched Share Pricing

The analyst price target for Newmont has been raised significantly, from approximately $58 to about $78 per share, as analysts factor in higher expected gold prices, improved profitability, and valuation upside relative to peers. Analyst Commentary Recent Street research on Newmont reflects a broadly constructive stance, with multiple firms lifting price targets and upgrading the stock on expectations of stronger gold prices, improving free cash flow, and valuation upside relative to peers.
SCCO
US$143.47
Southern Copper
7D
-3.1%
1Y
63.1%

SCCO Copper Supply Tightness Is Expected To Drive MultiYear Upside

Analysts have raised their price target for Southern Copper significantly, with fair value estimates climbing from approximately $125 to $172. This reflects higher copper price forecasts, tightening supply into 2026, and modestly stronger long term growth and profitability assumptions.
AU
US$85.28
AngloGold Ashanti
7D
-5.1%
1Y
269.5%

AU: Rising Gold Output Will Likely Fail To Justify Current Share Price

Analysts have significantly raised their price target for AngloGold Ashanti from approximately $38 to about $67 per share, citing expectations for stronger revenue growth, improved profit margins, a slightly higher required return, and a modestly lower future earnings multiple. What's in the News AngloGold Ashanti increased its interim dividend to 91 US cents per share for the three months ended 30 September 2025, indicating confidence in cash generation and balance sheet strength (Key Developments).
MSB
US$38.52
Mesabi Trust
7D
6.9%
1Y
37.0%
SIM
US$29.66
Grupo Simec. de
7D
1.1%
1Y
9.2%
AP
US$5.33
Ampco-Pittsburgh
7D
20.9%
1Y
155.0%

Ampco-Pittsburgh (NYSE:AP) Takes On Some Risk With Its Use Of Debt

Dec 09
Ampco-Pittsburgh (NYSE:AP) Takes On Some Risk With Its Use Of Debt
PZG
US$1.26
Paramount Gold Nevada
7D
6.8%
1Y
268.4%
XPL
US$0.70
Solitario Resources
7D
9.0%
1Y
17.2%