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U.S. Metals and Mining Industry Analysis

UpdatedApr 04, 2026
DataAggregated Company Financials
Companies260
  • 7D9.3%
  • 3M13.8%
  • 1Y119.5%
  • YTD13.8%

Over the last 7 days, the Metals and Mining industry has risen 9.3%, driven by gains in Southern Copper and Newmont of 9.7% and 12%, respectively. In the last 12 months, the industry was up 119%. 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
Sun, 05 Apr 2026US$780.2bUS$255.7bUS$25.6b22x30.5x3.1x
Tue, 03 Mar 2026US$896.8bUS$255.1bUS$25.8b23.5x34.8x3.5x
Thu, 29 Jan 2026US$840.0bUS$249.7bUS$23.1b26x36.3x3.4x
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
Price to Earnings Ratio

11.9x


Total Market Cap: US$365.3bTotal Earnings: US$30.7bTotal 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 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 30.5x which is higher than its 3-year average PE of 26.4x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have declined 5.9% 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 Market3.46%
Materials4.64%
Metals and Mining9.27%
Aluminum21.93%
Gold10.75%
Copper9.50%
Silver6.93%
Precious Metals and Minerals6.70%
Steel3.69%
Diversified Metals and Mining3.58%
Industry PE
  • Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 22.4x.
    • Analysts are expecting annual earnings growth of 24.0%, 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$177.839.7%
+US$13.0b		135.4%PE33.9x
NEM NewmontUS$114.0511.7%
+US$12.9b		158.1%PE17.4x
AEM Agnico Eagle MinesUS$208.547.8%
+US$7.6b		109.6%PE23.4x
FCX Freeport-McMoRanUS$61.389.1%
+US$7.4b		110.6%PE40.2x
AU AngloGold AshantiUS$101.2213.5%
+US$6.1b		201.7%PE19.4x

Latest News

MP
US$49.73
MP Materials
7D
-4.0%
1Y
115.7%

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

Analysts now set their price target for MP Materials at about $93.20, compared with roughly $92.80 before. This reflects updated views on discount rates, revenue growth, profit margins, and future P/E assumptions.
FCX
US$61.38
Freeport-McMoRan
7D
9.1%
1Y
110.6%

FCX: Copper Upswing And Grasberg Agreement Will Shape Balanced Future Returns

Narrative Update The updated analyst price target for Freeport-McMoRan reflects a modest adjustment in fair value to $67.40. This is supported by recent research that cites higher copper price assumptions, Grasberg clarity in Indonesia, and a series of price target revisions across the Street.
AMR
US$209.31
Alpha Metallurgical Resources
7D
-6.2%
1Y
92.9%

AMR: Heavy Buybacks And Expected Quarterly Loss Will Shape Future Returns

Analysts have kept Alpha Metallurgical Resources' average price target steady at $207.00, citing updated assumptions for revenue growth, profit margins, the discount rate, and future P/E. They view these assumptions as broadly consistent with prior expectations.
GSM
US$4.07
Ferroglobe
7D
-5.3%
1Y
21.5%

GSM: Completed Buybacks And Higher Dividend Will Support Future Upside Potential

Analysts have modestly reduced their $ fair value estimate for Ferroglobe, citing slightly lower assumed discount rates and a small adjustment to future P/E expectations, while keeping revenue growth and profit margin assumptions broadly unchanged. What's in the News Completed share repurchase of 13,465,973 shares, representing 7.19% of the company, for a total cost of $52m under the buyback announced on May 14, 2024 (Key Developments).
AEM
US$208.54
Agnico Eagle Mines
7D
7.8%
1Y
109.6%

AEM: Exploration Program And Dividend Increases Will Drive Future Senior Gold Repricing

Analysts have trimmed the average price target for Agnico Eagle Mines by $30. This reflects updated metal price forecasts, refreshed company models, and a mix of recent rating changes across the coverage universe.
NEM
US$114.05
Newmont
7D
11.7%
1Y
158.1%
UAMY
US$8.69
United States Antimony
7D
-0.7%
1Y
341.1%
AA
US$71.53
Alcoa
7D
22.5%
1Y
188.3%

AA: Higher Output And Trading Volumes Will Likely Still Fail To Justify Pricing

Analysts now place Alcoa's price target at about $46.37, compared with the prior $38.00. This reflects updated assumptions for revenue growth, profit margin, discount rate, and future P/E levels.
AU
US$101.22
AngloGold Ashanti
7D
13.5%
1Y
201.7%

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$262.63
Royal Gold
7D
10.6%
1Y
68.8%

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$94.89
Warrior Met Coal
7D
-4.3%
1Y
133.4%

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.
NUE
US$172.46
Nucor
7D
5.6%
1Y
67.1%
YDDL
US$13.29
One and one Green Technologies
7D
-3.9%
1Y
n/a
CMP
US$22.73
Compass Minerals International
7D
-1.4%
1Y
147.9%

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$177.83
Southern Copper
7D
9.7%
1Y
135.4%

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.
HLP
US$0.84
Hongli Group
7D
-14.3%
1Y
-29.4%

Subdued Growth No Barrier To Hongli Group Inc. (NASDAQ:HLP) With Shares Advancing 34%

Feb 06
Subdued Growth No Barrier To Hongli Group Inc. (NASDAQ:HLP) With Shares Advancing 34%