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U.S. Metals and Mining Industry Analysis

UpdatedOct 13, 2025
DataAggregated Company Financials
Companies255
  • 7D-0.5%
  • 3M24.3%
  • 1Y31.0%
  • YTD58.4%

Over the last 7 days, the Metals and Mining industry has remained flat, although notably Southern Copper declined by 3.8%. As for the the longer term, the industry is up 31% over the past 12 months. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Oct 2025US$580.1bUS$242.4bUS$20.0b24.6x29x2.4x
Wed, 10 Sep 2025US$528.8bUS$244.5bUS$20.3b22.5x26x2.2x
Fri, 08 Aug 2025US$483.4bUS$244.6bUS$20.6b21.7x23.5x2x
Sun, 06 Jul 2025US$479.9bUS$243.9bUS$17.9b23.1x26.8x2x
Tue, 03 Jun 2025US$432.5bUS$259.1bUS$17.8b20.7x24.2x1.7x
Thu, 01 May 2025US$436.6bUS$264.6bUS$19.2b21.1x22.8x1.7x
Sat, 29 Mar 2025US$437.3bUS$262.9bUS$16.8b24x26x1.7x
Mon, 24 Feb 2025US$418.7bUS$264.3bUS$17.4b21.6x24x1.6x
Wed, 22 Jan 2025US$412.5bUS$263.1bUS$11.9b15.4x34.6x1.6x
Fri, 20 Dec 2024US$389.9bUS$265.9bUS$12.5b15.4x31.2x1.5x
Sun, 17 Nov 2024US$426.4bUS$266.7bUS$12.5b18.8x34.1x1.6x
Tue, 15 Oct 2024US$468.9bUS$267.4bUS$11.3b14.2x41.5x1.8x
Thu, 12 Sep 2024US$413.4bUS$267.4bUS$11.4b13.3x36.3x1.5x
Sat, 10 Aug 2024US$421.0bUS$267.1bUS$11.5b13.7x36.5x1.6x
Mon, 08 Jul 2024US$452.2bUS$266.4bUS$12.8b13.3x35.5x1.7x
Wed, 05 Jun 2024US$459.2bUS$266.8bUS$13.0b14.5x35.3x1.7x
Fri, 03 May 2024US$442.1bUS$267.4bUS$13.3b13.3x33.2x1.7x
Sun, 31 Mar 2024US$439.8bUS$266.5bUS$15.7b14.2x28x1.7x
Tue, 27 Feb 2024US$381.0bUS$266.4bUS$15.9b15.3x24x1.4x
Thu, 25 Jan 2024US$385.5bUS$277.6bUS$19.1b16.5x20.2x1.4x
Sat, 23 Dec 2023US$417.1bUS$278.9bUS$19.4b17.9x21.5x1.5x
Mon, 20 Nov 2023US$363.0bUS$280.1bUS$20.0b15.5x18.2x1.3x
Wed, 18 Oct 2023US$349.3bUS$283.3bUS$21.8b11.9x16x1.2x
Fri, 15 Sep 2023US$352.3bUS$279.1bUS$21.4b12.7x16.5x1.3x
Sun, 13 Aug 2023US$361.0bUS$277.0bUS$21.8b13.6x16.5x1.3x
Tue, 11 Jul 2023US$352.9bUS$284.2bUS$26.0b12.9x13.6x1.2x
Thu, 08 Jun 2023US$337.6bUS$284.7bUS$26.4b12.6x12.8x1.2x
Sat, 06 May 2023US$350.0bUS$285.7bUS$26.8b11.3x13.1x1.2x
Mon, 03 Apr 2023US$363.6bUS$293.2bUS$29.3b10.8x12.4x1.2x
Wed, 01 Mar 2023US$365.1bUS$293.2bUS$31.1b8.4x11.7x1.2x
Fri, 27 Jan 2023US$383.9bUS$295.6bUS$36.1b7.6x10.6x1.3x
Sun, 25 Dec 2022US$326.6bUS$298.2bUS$37.9b6.6x8.6x1.1x
Tue, 22 Nov 2022US$319.7bUS$297.9bUS$38.0b6.2x8.4x1.1x
Thu, 20 Oct 2022US$274.7bUS$297.5bUS$44.4b6.9x6.2x0.9x
Price to Earnings Ratio

6.2x


Total Market Cap: US$274.7bTotal Earnings: US$44.4bTotal Revenue: US$297.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 23.1x202320242025
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 29.0x which is higher than its 3-year average PE of 23.1x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 23% per year over the last three years,
  • Revenues have also declined 6.6% 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-2.70%
Materials-2.76%
Metals and Mining-0.50%
Diversified Metals and Mining12.71%
Precious Metals and Minerals10.80%
Silver4.96%
Aluminum-0.013%
Copper-0.53%
Gold-1.87%
Steel-2.07%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 43.2% 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 58% over the next 5 years.
  • This is better than its past earnings growth rate of 9.4% per year.
  • In contrast, the Gold industry is expected to see its earnings grow by 8.3% 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
USGO U.S. GoldMiningUS$13.380.1%
+US$2.6b		33.2%PB762.9x
FCX Freeport-McMoRanUS$40.881.4%
+US$804.0m		-16.3%PE30.6x
MP MP MaterialsUS$78.345.4%
+US$710.2m		341.1%PS57.3x
USAR USA Rare EarthUS$32.6123.9%
+US$612.8m		203.1%PE-29.6x
METC Ramaco ResourcesUS$47.2021.2%
+US$546.0m		325.6%PS5x

Latest News

USGO
US$13.38
U.S. GoldMining
7D
0.1%
1Y
33.2%
UAMY
US$12.21
United States Antimony
7D
50.9%
1Y
1,619.5%
AEM
US$164.38
Agnico Eagle Mines
7D
-3.5%
1Y
105.9%
FCX
US$40.88
Freeport-McMoRan
7D
1.4%
1Y
-16.3%
NEM
US$85.14
Newmont
7D
-3.8%
1Y
55.3%

Global Gold Demand And Asset Synergies Will Boost Future Resilience

Analysts have raised their price target for Newmont from $79.64 to $88.91, citing stronger expected revenue growth, improving profit margins, and favorable outlooks for gold and other metals. Analyst Commentary Recent analyst actions regarding Newmont have highlighted a range of factors influencing the company's outlook, impacting both valuation expectations and execution risks.
CMC
US$56.97
Commercial Metals
7D
-2.7%
1Y
5.5%
MP
US$78.34
MP Materials
7D
5.4%
1Y
341.1%

Government Contracts And Apple Partnership Will Drive Processing Expansion

Analysts have modestly increased their price target for MP Materials, raising the fair value estimate from $77 to approximately $78.05. Adjustments to the discount rate, profit margin, and revenue expectations reflect a slightly more optimistic outlook for the company’s long-term performance.
SCCO
US$125.10
Southern Copper
7D
-3.8%
1Y
10.0%
RS
US$272.08
Reliance
7D
-3.2%
1Y
-7.3%
USAR
US$32.61
USA Rare Earth
7D
23.9%
1Y
203.1%
CRML
US$14.98
Critical Metals
7D
29.2%
1Y
123.2%
METC
US$47.20
Ramaco Resources
7D
21.2%
1Y
325.6%
RGLD
US$194.47
Royal Gold
7D
-4.5%
1Y
36.6%

Kansanshi And Warintza Projects Will Drive Future Stability

Analysts have raised their price target for Royal Gold from $220.75 to $223.63. They cite expectations of stronger revenue growth and improved profit margins, which are anticipated to offset a modest rise in the discount rate.
AU
US$71.93
AngloGold Ashanti
7D
-3.7%
1Y
163.1%

Robust Gold Demand And Operational Improvements Will Enable Future Success

Analysts have raised their fair value estimate for AngloGold Ashanti from $58.00 to approximately $67.17. This change reflects improved revenue growth expectations, which outweigh a slight decline in projected profit margins.
TMC
US$8.89
TMC the metals
7D
15.1%
1Y
771.1%
NUE
US$133.65
Nucor
7D
-1.4%
1Y
-12.6%