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U.S. Metals and Mining Industry Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies276
  • 7D6.8%
  • 3M40.9%
  • 1Y123.5%
  • YTD29.7%

The Metals and Mining industry is up 6.8% in the last week, with Southern Copper up 11%. During this same period, the Evolution Metals & Technologies underperformed, falling 28%. This means that the industry has gained 124% over the past year. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026US$879.8bUS$254.7bUS$25.3b24x34.8x3.5x
Sun, 25 Jan 2026US$832.6bUS$248.5bUS$23.0b27.1x36.2x3.4x
Tue, 23 Dec 2025US$665.2bUS$248.5bUS$22.5b26.2x29.6x2.7x
Thu, 20 Nov 2025US$580.6bUS$248.3bUS$22.5b20.6x25.8x2.3x
Sat, 18 Oct 2025US$623.1bUS$242.2bUS$20.1b25.3x31x2.6x
Mon, 15 Sep 2025US$545.8bUS$244.5bUS$20.3b23.9x26.9x2.2x
Wed, 13 Aug 2025US$492.5bUS$244.5bUS$20.5b21.2x24x2x
Fri, 11 Jul 2025US$468.6bUS$243.9bUS$17.9b23.2x26.2x1.9x
Sun, 08 Jun 2025US$453.4bUS$259.2bUS$17.8b21.4x25.4x1.7x
Tue, 06 May 2025US$426.2bUS$258.8bUS$18.1b21.9x23.5x1.6x
Thu, 03 Apr 2025US$426.3bUS$262.9bUS$16.8b22.2x25.3x1.6x
Sat, 01 Mar 2025US$410.8bUS$263.6bUS$17.3b20.9x23.8x1.6x
Mon, 27 Jan 2025US$410.1bUS$263.2bUS$11.9b17.1x34.4x1.6x
Wed, 25 Dec 2024US$393.7bUS$265.9bUS$12.5b15.4x31.5x1.5x
Fri, 22 Nov 2024US$441.7bUS$266.7bUS$12.5b19.9x35.4x1.7x
Sun, 20 Oct 2024US$476.5bUS$267.1bUS$11.2b14.6x42.6x1.8x
Tue, 17 Sep 2024US$432.1bUS$267.5bUS$11.4b13.9x37.9x1.6x
Thu, 15 Aug 2024US$426.5bUS$267.1bUS$11.4b13.3x37.5x1.6x
Sat, 13 Jul 2024US$460.8bUS$266.5bUS$12.8b13.9x36.1x1.7x
Mon, 10 Jun 2024US$435.1bUS$266.7bUS$13.0b14.6x33.5x1.6x
Wed, 08 May 2024US$451.4bUS$266.9bUS$13.1b13.5x34.4x1.7x
Fri, 05 Apr 2024US$453.1bUS$266.3bUS$15.7b14.5x28.9x1.7x
Sun, 03 Mar 2024US$384.3bUS$266.5bUS$15.8b14.2x24.4x1.4x
Tue, 30 Jan 2024US$387.1bUS$277.6bUS$19.2b16.8x20.2x1.4x
Thu, 28 Dec 2023US$422.4bUS$279.0bUS$19.4b18.3x21.8x1.5x
Sat, 25 Nov 2023US$367.3bUS$280.1bUS$20.0b15.3x18.4x1.3x
Mon, 23 Oct 2023US$332.8bUS$282.8bUS$22.1b11.7x15.1x1.2x
Wed, 20 Sep 2023US$353.7bUS$279.2bUS$21.4b12.4x16.6x1.3x
Fri, 18 Aug 2023US$354.0bUS$276.4bUS$21.7b13.7x16.3x1.3x
Sun, 16 Jul 2023US$366.7bUS$284.5bUS$26.0b13.4x14.1x1.3x
Tue, 13 Jun 2023US$338.1bUS$284.8bUS$26.4b13.3x12.8x1.2x
Thu, 11 May 2023US$342.8bUS$284.9bUS$26.4b12x13x1.2x
Sat, 08 Apr 2023US$357.4bUS$293.2bUS$29.3b10.9x12.2x1.2x
Mon, 06 Mar 2023US$385.0bUS$293.3bUS$31.0b8.7x12.4x1.3x
Price to Earnings Ratio

12.4x


Total Market Cap: US$385.0bTotal Earnings: US$31.0bTotal Revenue: US$293.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 25.8x202420252026
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 34.8x which is higher than its 3-year average PE of 25.8x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 6.7% per year over the last three years,
  • Revenues have also declined 4.6% 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 Market0.58%
Materials2.65%
Metals and Mining6.79%
Copper10.47%
Gold8.08%
Silver7.99%
Precious Metals and Minerals6.26%
Aluminum3.98%
Diversified Metals and Mining0.40%
Steel-1.44%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 14.9x.
    • Analysts are expecting annual earnings growth of 18.3%, which is lower than the prior year's growth of 811.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 60% over the next 5 years.
  • However this is lower than its past earnings growth rate of 104% per year.
  • In contrast, the Copper 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
SCCO Southern CopperUS$215.7011.1%
+US$17.9b		147.3%PE41.1x
AEM Agnico Eagle MinesUS$246.409.8%
+US$11.0b		159.1%PE27.6x
AU AngloGold AshantiUS$126.0717.1%
+US$9.3b		329.8%PE24.2x
FCX Freeport-McMoRanUS$68.389.3%
+US$8.4b		82.7%PE44.7x
NEM NewmontUS$127.471.7%
+US$2.3b		202.6%PE19.6x

Latest News

AUGO
US$89.74
Aura Minerals
7D
27.2%
1Y
504.3%
RGLD
US$294.38
Royal Gold
7D
8.3%
1Y
103.0%
AU
US$126.07
AngloGold Ashanti
7D
17.1%
1Y
329.8%
FCX
US$68.38
Freeport-McMoRan
7D
9.3%
1Y
82.7%
METC
US$14.93
Ramaco Resources
7D
-10.7%
1Y
57.8%
NUE
US$175.61
Nucor
7D
-2.5%
1Y
30.3%

NUE: Tariff Support And Capacity Plans Will Shape Future Earnings Power

Analysts have kept their Nucor price target effectively unchanged at about $186 per share. This reflects research that points to a valuation they view as full, even as they factor in expectations for elevated steel prices, ongoing tariff support and steady domestic mill market share gains against imports.
AEM
US$246.40
Agnico Eagle Mines
7D
9.8%
1Y
159.1%
MTUS
US$17.30
Metallus
7D
-17.3%
1Y
10.2%

MTUS: Tentative Labor Agreement And Buybacks Will Underpin Balanced 2026 Outlook

Analysts have revised their price target on Metallus from $20.50 to $18.00, reflecting updated assumptions on revenue growth, profit margins, and future P/E multiples that point to a more reserved outlook for the shares. What's in the News From October 1, 2025 to December 31, 2025, Metallus repurchased 70,701 shares, representing 0.17% of shares, for $1.21 million under its existing buyback program.
CDE
US$26.56
Coeur Mining
7D
10.4%
1Y
429.1%
RS
US$316.10
Reliance
7D
-3.4%
1Y
7.2%
SIM
US$30.80
Grupo Simec. de
7D
-5.2%
1Y
20.8%
NEM
US$127.47
Newmont
7D
1.7%
1Y
202.6%
SCCO
US$215.70
Southern Copper
7D
11.1%
1Y
147.3%

SCCO: Rich Margins And Cash Returns Will Likely Cap Future Upside

The analyst price target for Southern Copper has moved higher by about $11 as analysts adjust their assumptions around profit margins, future P/E and cash generation, while reflecting a mix of recent target hikes and downgrades across the Street. Analyst Commentary Recent Street research on Southern Copper reflects a mixed backdrop, with several firms lifting price targets while a few high profile houses turn more cautious on the shares.
AMR
US$168.05
Alpha Metallurgical Resources
7D
-4.9%
1Y
13.1%

AMR: Future Buybacks And 2026 Shipment Plans Will Support Upside Potential

Narrative Update on Alpha Metallurgical Resources Analysts have adjusted their price target for Alpha Metallurgical Resources slightly higher from $204.00 to $205.00, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Preliminary unaudited guidance for the fourth quarter of 2025 points to a net loss of $17.3 million, or $1.34 per diluted share, providing an early view of expected earnings for the period (Key Developments).
CMC
US$74.91
Commercial Metals
7D
-3.5%
1Y
52.8%

CMC: Share Repurchases And Higher P/E Assumptions Will Signal Overvaluation

Analysts have raised their price target on Commercial Metals from $41.00 to $66.00, citing updated assumptions for revenue growth, profit margins, the discount rate, and a higher future P/E multiple. What's in the News From October 1, 2025 to November 30, 2025, Commercial Metals repurchased 663,220 shares for $38.9 million, accounting for 0.6% of its shares.
EMAT
US$8.60
Evolution Metals & Technologies
7D
-27.7%
1Y
-23.0%

Evolution Metals & Technologies Is Just The Beginning; Caution Is Advised

Jan 24