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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 10%, driven by a pullback from Southern Copper of 9.4%. This takes the industry's 12 month performance to a gain of 60%. 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
Fri, 26 Jun 2026US$730.4bUS$269.6bUS$32.5b19.4x22.5x2.7x
Sun, 24 May 2026US$784.4bUS$269.2bUS$32.5b18.4x24.1x2.9x
Tue, 21 Apr 2026US$840.8bUS$255.6bUS$25.4b23.2x33x3.3x
Thu, 19 Mar 2026US$761.5bUS$255.2bUS$25.4b20.7x29.9x3x
Sat, 14 Feb 2026US$814.3bUS$252.4bUS$25.0b25.9x32.6x3.2x
Mon, 12 Jan 2026US$747.4bUS$248.6bUS$22.9b25.4x32.6x3x
Wed, 10 Dec 2025US$627.4bUS$248.4bUS$22.5b22x27.8x2.5x
Fri, 07 Nov 2025US$567.5bUS$246.9bUS$22.5b21.4x25.3x2.3x
Sun, 05 Oct 2025US$582.7bUS$242.4bUS$19.9b24.6x29.3x2.4x
Tue, 02 Sep 2025US$519.7bUS$244.5bUS$20.3b22.9x25.6x2.1x
Thu, 31 Jul 2025US$478.1bUS$242.3bUS$19.5b21.2x24.6x2x
Sat, 28 Jun 2025US$469.4bUS$243.8bUS$17.7b21.9x26.5x1.9x
Mon, 26 May 2025US$435.0bUS$259.1bUS$17.8b20.1x24.4x1.7x
Wed, 23 Apr 2025US$421.1bUS$263.8bUS$18.0b21x23.4x1.6x
Fri, 21 Mar 2025US$442.5bUS$262.9bUS$16.9b24x26.2x1.7x
Sun, 16 Feb 2025US$429.9bUS$263.1bUS$12.8b21.6x33.7x1.6x
Tue, 14 Jan 2025US$397.8bUS$265.6bUS$12.1b15.2x32.8x1.5x
Thu, 12 Dec 2024US$434.9bUS$266.1bUS$12.5b18.2x34.9x1.6x
Sat, 09 Nov 2024US$469.9bUS$267.3bUS$12.4b19.5x37.8x1.8x
Mon, 07 Oct 2024US$466.2bUS$267.5bUS$11.3b14.1x41.3x1.7x
Wed, 04 Sep 2024US$440.8bUS$267.4bUS$11.4b13.2x38.8x1.6x
Fri, 02 Aug 2024US$451.0bUS$267.4bUS$11.6b14x39x1.7x
Sun, 30 Jun 2024US$433.2bUS$266.4bUS$13.0b13.3x33.4x1.6x
Tue, 28 May 2024US$459.5bUS$267.0bUS$13.0b14.8x35.2x1.7x
Thu, 25 Apr 2024US$434.8bUS$265.8bUS$15.1b13.6x28.9x1.6x
Sat, 23 Mar 2024US$423.6bUS$266.6bUS$15.8b14.2x26.9x1.6x
Mon, 19 Feb 2024US$385.3bUS$264.8bUS$17.2b16.1x22.4x1.5x
Wed, 17 Jan 2024US$394.2bUS$278.1bUS$19.4b17.3x20.3x1.4x
Fri, 15 Dec 2023US$381.4bUS$278.9bUS$19.8b16x19.3x1.4x
Sun, 12 Nov 2023US$344.6bUS$279.7bUS$20.0b13.9x17.3x1.2x
Tue, 10 Oct 2023US$347.4bUS$283.5bUS$21.9b11.3x15.9x1.2x
Thu, 07 Sep 2023US$358.0bUS$279.1bUS$21.4b12.7x16.8x1.3x
Sat, 05 Aug 2023US$367.7bUS$277.5bUS$22.0b14.2x16.7x1.3x
Mon, 03 Jul 2023US$352.0bUS$284.1bUS$26.0b13x13.5x1.2x
Price to Earnings Ratio

13.5x


Total Market Cap: US$352.0bTotal 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 23.2x 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 2.8x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 7.6% 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 (24.2%) 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 34% 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 8.2% 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$248.892.1%
+US$1.2b		90.6%PE24.4x
RS RelianceUS$405.782.4%
+US$481.9m		29.0%PE25.7x
CMC Commercial MetalsUS$74.092.4%
+US$191.8m		47.9%PE13.8x
STLD Steel DynamicsUS$251.000.4%
+US$157.2m		90.9%PE26.4x
MTRN MaterionUS$281.802.5%
+US$141.9m		249.2%PE76.6x

Latest News

FCX
US$62.80
Freeport-McMoRan
7D
-8.6%
1Y
41.3%
CMC
US$74.09
Commercial Metals
7D
2.4%
1Y
47.9%
NUE
US$248.89
Nucor
7D
2.1%
1Y
90.6%
MP
US$55.62
MP Materials
7D
-8.6%
1Y
54.5%
Seeking Alpha • 12h

MP Materials: Chinese Export Could Be A Real Wrench In The Works

Summary MP Materials stock remains a "Hold" as the risk/reward looks unfavorable following high operating costs. Chinese export bans on dual-use equipment could stall the 10X facility by many months. The price of NdPr is now causing a rise in COGS, which is trickling down to worsening operating margins. Read the full article on Seeking Alpha
STLD
US$251.00
Steel Dynamics
7D
0.4%
1Y
90.9%
Seeking Alpha • 16h

Steel Dynamics Offers Solid Fundamentals And A Potential Short-Term Buying Opportunity

Summary Steel Dynamics remains a hold, with a 10% further decline targeted as an attractive entry amid recent Q2 guidance and market volatility. STLD's Q1 saw revenues up 19% to $5.2B and net earnings doubling, driven by broad-based growth and a rapidly expanding aluminum segment. STLD's recycling-based model offers a structural cost advantage as energy prices rise, supporting long-term outperformance versus peers like Nippon Steel. I plan incremental buying if STLD declines by over 20% from highs, balancing downside risk with superior profitability and a forward P/E of 15. Read the full article on Seeking Alpha
AA
US$53.08
Alcoa
7D
-10.6%
1Y
77.3%
SCCO
US$174.73
Southern Copper
7D
-9.4%
1Y
73.3%
Narrative Update • Jun 25

SCCO: Long Term Copper Expansion And Dividend Yield May Sustain Premium

Southern Copper's updated analyst price target moves from $233.07 to $225.28 as analysts factor in a higher discount rate, more moderate revenue growth, stronger profit margins, and a lower assumed future P/E, consistent with recent Street research that highlights stretched valuation alongside updated company models. Analyst Commentary Recent research on Southern Copper reflects a cautious stance on valuation, even as several high profile firms update their models and adjust price targets.
RS
US$405.78
Reliance
7D
2.4%
1Y
29.0%
Narrative Update • Jun 24

RS: Future Returns Will Rely On Buybacks And Stable Margins At Fair Value

Analysts have nudged their price target on Reliance higher to about $378 from roughly $360, citing updated assumptions for slightly stronger revenue growth, profit margins, and a modestly higher future P/E multiple as key drivers of the change. What’s in the News for Reliance Updated buyback activity: from January 1, 2026 to March 31, 2026, Reliance repurchased 782,000 shares, representing 1.51% of its shares, for US$234.15 million.
MTRN
US$281.80
Materion
7D
2.5%
1Y
249.2%
New Narrative • Jun 23

AI And Defense Demand Will Drive Significant Long-Term Upside Potential

Catalysts About Materion Materion supplies highly engineered materials and components used in semiconductor, defense, energy, telecom, space and industrial applications. What are the underlying business or industry changes driving this perspective?
NEM
US$95.35
Newmont
7D
-8.1%
1Y
61.1%
AEM
US$156.18
Agnico Eagle Mines
7D
-6.3%
1Y
26.9%
AU
US$79.34
AngloGold Ashanti
7D
-12.7%
1Y
71.1%
Analysis Article • Jun 20

AngloGold Ashanti (AU) Stock Could Be 24.1% Undervalued Ahead Of Earnings

AngloGold Ashanti (AU) is back in focus as investors look ahead to an upcoming earnings release. Many expect it to show significant earnings expansion and improved profitability, given its role in global gold production. See our latest analysis for AngloGold Ashanti. At a share price of $90.87, AngloGold Ashanti has had a 7 day share price return of 5.30%, while its 1 year total shareholder return of 99.85% and 5 year total shareholder return of 447.65% point to strong momentum built over a...
RYZ
US$27.82
Ryerson Holding
7D
0.4%
1Y
31.6%
Analysis Article • Jun 18

Ryerson Holding (RYI) Stock Could Be 4.5% Below Fair Value After Recent Rally

Ryerson Holding (RYZ) has drawn fresh attention after recent trading, with the stock moving from short term pressure to gains over the past month and the past 3 months, prompting a closer look at fundamentals. See our latest analysis for Ryerson Holding. At a share price of $28.04, Ryerson Holding has pulled back slightly in the past week after strong recent momentum, with a 30 day share price return of 13.89% and a 1 year total shareholder return of 40.55% contrasting with a weaker 3 year...
CDE
US$15.99
Coeur Mining
7D
-8.7%
1Y
76.7%
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.
MTUS
US$20.23
Metallus
7D
4.8%
1Y
32.7%
Narrative Update • Jun 05

MTUS: Future Returns Will Reflect Sector Weighting Assumption And Ongoing Share Repurchases

Analysts have increased Metallus's fair value estimate from $20 to $21, citing updated assumptions on discount rates, revenue growth, profit margins, and forward P/E in light of recent sector level coverage. What's in the News From January 1, 2026 to March 31, 2026, Metallus repurchased 277,178 shares for US$4.31 million, representing 0.67% of shares, under its existing buyback program.
TG
US$8.07
Tredegar
7D
3.7%
1Y
-8.0%