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U.S. Metals and Mining Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies275
  • 7D3.8%
  • 3M40.8%
  • 1Y116.7%
  • YTD22.8%

Over the last 7 days, the Metals and Mining industry has risen 3.8%, driven by gains from Newmont of 11%. This means that the industry has gained 117% over the past year. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026US$828.6bUS$249.7bUS$23.1b26x35.8x3.3x
Sat, 27 Dec 2025US$689.6bUS$248.5bUS$22.5b26.7x30.6x2.8x
Mon, 24 Nov 2025US$572.9bUS$248.3bUS$22.5b21.2x25.4x2.3x
Wed, 22 Oct 2025US$619.2bUS$242.9bUS$20.2b25.5x30.7x2.5x
Fri, 19 Sep 2025US$549.9bUS$244.8bUS$20.3b23.5x27.1x2.2x
Sun, 17 Aug 2025US$499.0bUS$244.5bUS$20.3b21.6x24.6x2x
Tue, 15 Jul 2025US$478.6bUS$241.1bUS$18.0b22.9x26.6x2x
Thu, 12 Jun 2025US$456.9bUS$259.2bUS$17.8b21.5x25.6x1.8x
Sat, 10 May 2025US$424.6bUS$259.0bUS$18.1b20.6x23.5x1.6x
Mon, 07 Apr 2025US$370.4bUS$262.9bUS$16.8b18.5x22x1.4x
Wed, 05 Mar 2025US$402.5bUS$263.2bUS$17.2b20.3x23.4x1.5x
Fri, 31 Jan 2025US$404.5bUS$262.5bUS$11.5b16.6x35.1x1.5x
Sun, 29 Dec 2024US$390.3bUS$265.9bUS$12.5b15.4x31.2x1.5x
Tue, 26 Nov 2024US$443.3bUS$266.1bUS$12.4b19x35.7x1.7x
Thu, 24 Oct 2024US$475.9bUS$267.1bUS$10.6b15.1x45x1.8x
Sat, 21 Sep 2024US$445.8bUS$267.4bUS$11.3b13.6x39.3x1.7x
Mon, 19 Aug 2024US$435.9bUS$267.1bUS$11.5b13.6x37.9x1.6x
Wed, 17 Jul 2024US$462.4bUS$266.5bUS$12.8b14.2x36.2x1.7x
Fri, 14 Jun 2024US$425.5bUS$266.6bUS$13.0b14.2x32.7x1.6x
Sun, 12 May 2024US$459.3bUS$266.8bUS$13.0b13x35.2x1.7x
Tue, 09 Apr 2024US$454.6bUS$266.3bUS$15.7b14.5x29x1.7x
Thu, 07 Mar 2024US$384.4bUS$266.6bUS$16.0b14.5x24.1x1.4x
Sat, 03 Feb 2024US$389.2bUS$276.5bUS$18.6b16.2x20.9x1.4x
Mon, 01 Jan 2024US$411.8bUS$278.5bUS$19.5b17.7x21.1x1.5x
Wed, 29 Nov 2023US$368.3bUS$280.1bUS$20.0b15.2x18.5x1.3x
Fri, 27 Oct 2023US$333.3bUS$280.7bUS$21.6b11.6x15.5x1.2x
Sun, 24 Sep 2023US$346.3bUS$279.1bUS$21.3b12.2x16.2x1.2x
Tue, 22 Aug 2023US$351.1bUS$276.5bUS$21.7b13.7x16.2x1.3x
Thu, 20 Jul 2023US$367.4bUS$284.5bUS$26.0b13.3x14.1x1.3x
Sat, 17 Jun 2023US$347.8bUS$285.0bUS$26.3b12.4x13.2x1.2x
Mon, 15 May 2023US$332.8bUS$284.8bUS$26.4b11.8x12.6x1.2x
Wed, 12 Apr 2023US$365.3bUS$293.2bUS$30.7b11.4x11.9x1.2x
Fri, 10 Mar 2023US$357.7bUS$293.2bUS$31.0b8.3x11.5x1.2x
Sun, 05 Feb 2023US$380.5bUS$296.5bUS$36.3b7.8x10.5x1.3x
Price to Earnings Ratio

10.5x


Total Market Cap: US$380.5bTotal Earnings: US$36.3bTotal Revenue: US$296.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 25.2x202420252026
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 35.8x which is higher than its 3-year average PE of 25.2x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 14% per year over the last three years,
  • Revenues have also declined 5.6% 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 Market2.04%
Materials3.30%
Metals and Mining3.81%
Gold5.29%
Copper4.63%
Diversified Metals and Mining2.52%
Precious Metals and Minerals1.39%
Steel0.47%
Silver0.25%
Aluminum-2.29%
Industry PE
  • Investors are most optimistic about the Silver industry which is trading above its 3-year average PE ratio of 10.8x.
    • Analysts are expecting annual earnings growth of 37.2% 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 66% 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 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
NEM NewmontUS$127.006.8%
+US$8.8b		207.1%PE19.2x
SCCO Southern CopperUS$194.844.6%
+US$7.0b		123.1%PE41.8x
FCX Freeport-McMoRanUS$62.874.7%
+US$4.0b		75.4%PE41x
AEM Agnico Eagle MinesUS$216.163.4%
+US$3.5b		140.3%PE31.5x
CDE Coeur MiningUS$25.7112.4%
+US$1.8b		310.0%PE40.4x

Latest News

AEM
US$222.99
Agnico Eagle Mines
7D
8.6%
1Y
147.5%
SCCO
US$198.18
Southern Copper
7D
7.7%
1Y
124.8%
AA
US$60.01
Alcoa
7D
-6.0%
1Y
70.8%
NUE
US$173.18
Nucor
7D
-3.9%
1Y
36.5%

NUE: Tariff Policies And Capacity Additions Will Shape Future Pricing Power

Nucor’s implied analyst price target has edged up by about $3 to roughly $182, as analysts factor in refreshed steel price forecasts, tariff support for elevated pricing, and slightly adjusted expectations for long term revenue growth, margins, and future P/E multiples. Analyst Commentary Recent Street research on Nucor reflects a mix of optimism on pricing and market position, balanced by more cautious views on demand and rating resets.
HL
US$27.19
Hecla Mining
7D
-5.9%
1Y
395.3%
FCX
US$63.63
Freeport-McMoRan
7D
5.0%
1Y
75.4%
STLD
US$174.38
Steel Dynamics
7D
-3.0%
1Y
35.0%
AU
US$115.72
AngloGold Ashanti
7D
14.2%
1Y
306.3%
RGLD
US$301.21
Royal Gold
7D
7.8%
1Y
119.1%

Copper Growth Projects And Extended Mount Milligan Life Will Transform Long Term Cash Flows

Catalysts About Royal Gold Royal Gold is a precious metals royalty and streaming company with a portfolio focused on gold, silver and copper interests across producing and development assets. What are the underlying business or industry changes driving this perspective?
CDE
US$25.62
Coeur Mining
7D
11.8%
1Y
302.8%
EMAT
US$7.10
Evolution Metals & Technologies
7D
-10.6%
1Y
-38.0%

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

Jan 24
CLF
US$14.05
Cleveland-Cliffs
7D
-4.0%
1Y
37.1%

CLF: Tariff Support And Cost Pressures Will Shape Steel Outlook

Analysts have raised their blended price target on Cleveland-Cliffs to about $13.44, up from $12.45. This shift reflects updated views on revenue growth, profit margins, and future P/E assumptions, alongside mixed Street research that notes both tariff support for steel pricing and ongoing concerns about costs and valuation.
NEM
US$131.95
Newmont
7D
11.0%
1Y
217.3%

NEM: Future Barrick Nevada Deal Pursuit Will Likely Pressure Stretched Shares

Narrative Update on Newmont Analysts have lifted their implied price target on Newmont by about US$7 per share, reflecting updated views on fair value, refreshed commodity price assumptions, and company guidance that points to revenue growth, a different profit margin profile, and a slightly higher future P/E multiple. Analyst Commentary Recent Street research on Newmont has centered on refreshed commodity price assumptions, updated company guidance, and how those factors flow through to valuation.
HCC
US$90.09
Warrior Met Coal
7D
-9.8%
1Y
67.5%
CMC
US$75.05
Commercial Metals
7D
-3.6%
1Y
50.4%

CMC: Ongoing Buybacks And Updated Assumptions Will Shape A Balanced Outlook

Analysts now see fair value for Commercial Metals at US$79.90, up from US$74.00, citing updated views on revenue growth, profit margins, discount rate assumptions, and a lower projected future P/E multiple. What's in the News Commercial Metals reported repurchasing 663,220 shares between October 1, 2025 and November 30, 2025 for US$38.9 million, representing 0.6% of its shares.
HYMC
US$51.69
Hycroft Mining Holding
7D
30.6%
1Y
2,361.4%