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U.S. Metals and Mining Industry Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies262
  • 7D7.1%
  • 3M12.0%
  • 1Y82.4%
  • YTD9.5%

The Metals and Mining industry has gained 1.8% in the last week and Southern Copper up 7.6%. In the same time, MP Materials was down 9.4%. This means that the industry has gained 72% over the past year. 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
Wed, 01 Apr 2026US$714.9bUS$255.6bUS$25.5b22x28.1x2.8x
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
Price to Earnings Ratio

12.2x


Total Market Cap: US$357.4bTotal Earnings: US$29.3bTotal Revenue: US$293.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Metals and Mining Industry Price to Earnings3Y Average 26.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Metals and Mining industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 26.3x.
  • The 3-year average PS ratio of 1.8x 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 declined 4.5% per year over the last three years,
  • Revenues have also declined 4.5% 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-0.61%
Materials4.23%
Metals and Mining7.07%
Aluminum13.76%
Gold10.04%
Copper6.26%
Silver4.00%
Steel2.39%
Precious Metals and Minerals2.33%
Diversified Metals and Mining-1.56%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 22.2x.
    • Analysts are expecting annual earnings growth of 26.1%, which is higher than its past year's earnings decline of 14.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Metals and Mining industry, expecting annual earnings growth of 49% over the next 5 years.
  • However this is lower than its past earnings growth rate of 117% per year.
  • In contrast, the Copper 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
SCCO Southern CopperUS$172.067.6%
+US$10.1b		90.2%PE32.8x
AEM Agnico Eagle MinesUS$202.9810.6%
+US$9.8b		87.5%PE22.8x
NEM NewmontUS$108.259.3%
+US$9.3b		124.2%PE16.5x
AU AngloGold AshantiUS$97.3613.5%
+US$5.9b		159.8%PE18.7x
FCX Freeport-McMoRanUS$58.784.1%
+US$3.3b		54.2%PE38.5x

Latest News

NEM
US$108.25
Newmont
7D
9.3%
1Y
124.2%
UAMY
US$8.73
United States Antimony
7D
-5.9%
1Y
288.0%
AU
US$97.36
AngloGold Ashanti
7D
13.5%
1Y
159.8%

AU: New Arthur Project And Dividend Stream Will Support Future Upside

Analysts now place AngloGold Ashanti's fair value at $121.86, up from $98. This reflects updated assumptions around revenue growth, profit margins, a slightly adjusted discount rate, and a lower future P/E multiple.
RGLD
US$254.49
Royal Gold
7D
11.9%
1Y
54.9%

Royal Gold Inc. (RGLD): The Streamer's Pivot and the "Fourmile" Growth Catalyst

Royal Gold Inc. (RGLD) is currently navigating a period of high-impact strategic growth, trading at $239.60 USD on the NASDAQ as of the afternoon session on March 30, 2026.
HCC
US$93.15
Warrior Met Coal
7D
-2.5%
1Y
93.8%

HCC: Blue Creek Ramp And Execution Will Shape Balanced Medium Term Outlook

Narrative Update: Warrior Met Coal Analysts have lifted their consolidated price target on Warrior Met Coal by about $4 to roughly $106. This change reflects updated assumptions around valuation multiples, discount rate, and profitability, based on a series of recent target hikes across major firms.
STLD
US$180.00
Steel Dynamics
7D
6.1%
1Y
45.2%
CMC
US$61.43
Commercial Metals
7D
-3.7%
1Y
30.8%
WS
US$30.35
Worthington Steel
7D
-10.6%
1Y
19.6%
USAR
US$15.14
USA Rare Earth
7D
-8.8%
1Y
141.0%
FCX
US$58.78
Freeport-McMoRan
7D
4.1%
1Y
54.2%
AA
US$66.33
Alcoa
7D
17.0%
1Y
120.1%
CMP
US$23.35
Compass Minerals International
7D
-3.3%
1Y
156.0%

CMP: Stable Assumptions Will Support Upside As Discount Rate Shifts

Analysts have maintained their price target for Compass Minerals International at $25.75, citing unchanged fair value estimates supported by very small adjustments to the discount rate, revenue growth, profit margin, and forward P/E assumptions. Valuation Changes Fair Value: Remains unchanged at $25.75 per share, indicating no revision to the central valuation estimate.
SCCO
US$172.06
Southern Copper
7D
7.6%
1Y
90.2%

SCCO: Stretched Valuation Will Face Pressure From Expected Production Declines

Southern Copper's updated fair value estimate has shifted lower to $67.81 from $73.93 as analysts adjust price targets in response to concerns about stretched valuation, softer near term operations, and the implications of richer profit margin and lower P/E assumptions. Analyst Commentary Recent Street research on Southern Copper has tilted more cautious, even as some price targets move higher in absolute terms.
MP
US$48.26
MP Materials
7D
-9.4%
1Y
91.7%

MP: Texas Magnet Campus And Federal Partnership Will Support Long-Term Upside

Analysts have slightly raised their price target on MP Materials to $92.80 from $92.33, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News MP Materials plans to develop "10X," a large rare earth magnet manufacturing campus on a 120-acre site in Northlake, Texas, positioned less than 10 miles from its existing Independence facility in Fort Worth.
AEM
US$202.98
Agnico Eagle Mines
7D
10.6%
1Y
87.5%
AMR
US$205.27
Alpha Metallurgical Resources
7D
-5.8%
1Y
60.2%

AMR: Heavy Buybacks And Preliminary Loss Guidance Will Shape Future Returns

Analysts have raised their price target on Alpha Metallurgical Resources to $207 from $205, reflecting updated assumptions that incorporate revised inputs for the discount rate, revenue growth, profit margin, and future P/E. What's in the News Share repurchases from October 1, 2025 to December 31, 2025 totaled 113,000 shares, about 0.87% of the company, for $20 million under the existing buyback program (Key Developments).