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South African (JSE) Metals and Mining Industry Analysis

UpdatedNov 07, 2025
DataAggregated Company Financials
Companies17
  • 7D-1.4%
  • 3M15.2%
  • 1Y74.0%
  • YTD101.1%

Over the last 7 days, the Metals and Mining industry has dropped 1.4%, and Valterra Platinum contributed the most with a 3.1% decline. Over the past 12 months, the industry was up 74%. As for the next few years, earnings are expected to grow by 30% per annum.

Industry Valuation and Performance

Has the South African Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 07 Nov 2025R1.6tR670.3bR56.1b18.5x29x2.4x
Sun, 05 Oct 2025R1.8tR668.9bR55.8b20.1x31.6x2.6x
Tue, 02 Sep 2025R1.4tR670.1bR60.0b15.1x23.5x2.1x
Thu, 31 Jul 2025R1.3tR647.0bR25.0b7.3x52.5x2x
Sat, 28 Jun 2025R1.2tR657.1bR30.7b7.7x37.8x1.8x
Mon, 26 May 2025R1.2tR657.0bR30.7b6.9x37.8x1.8x
Wed, 23 Apr 2025R1.2tR663.7bR32.3b6.8x36.4x1.8x
Fri, 21 Mar 2025R1.1tR660.9bR32.8b8.7x32.6x1.6x
Sun, 16 Feb 2025R972.8bR657.9b-R14,104,424,149.0810.4x-69x1.5x
Tue, 14 Jan 2025R864.3bR664.4b-R12,503,889,428.129.4x-69.1x1.3x
Thu, 12 Dec 2024R848.3bR656.7b-R13,527,439,513.8810x-62.7x1.3x
Sat, 09 Nov 2024R902.6bR655.3b-R13,798,278,287.6910.5x-65.4x1.4x
Mon, 07 Oct 2024R905.5bR654.7b-R14,977,769,225.5911.9x-60.5x1.4x
Wed, 04 Sep 2024R793.6bR659.6bR2.4b9x331.6x1.2x
Fri, 02 Aug 2024R939.4bR674.0bR9.9b6.2x94.8x1.4x
Sun, 30 Jun 2024R900.5bR688.5bR13.8b6.2x65.4x1.3x
Tue, 28 May 2024R1.0tR689.5bR13.9b7.4x73.3x1.5x
Thu, 25 Apr 2024R973.2bR693.7bR14.9b6.5x65.5x1.4x
Sat, 23 Mar 2024R937.2bR693.2bR14.3b6.6x65.3x1.4x
Mon, 19 Feb 2024R881.8bR720.4bR89.2b6.3x9.9x1.2x
Wed, 17 Jan 2024R950.3bR732.9bR93.2b7.5x10.2x1.3x
Fri, 15 Dec 2023R1.0tR729.8bR93.3b7.7x11x1.4x
Sun, 12 Nov 2023R854.2bR732.2bR93.7b6.7x9.1x1.2x
Tue, 10 Oct 2023R854.1bR735.5bR94.1b7.3x9.1x1.2x
Thu, 07 Sep 2023R983.7bR822.8bR96.4b5.5x10.2x1.2x
Sat, 05 Aug 2023R1.1tR838.2bR142.9b4.6x7.8x1.3x
Mon, 03 Jul 2023R1.2tR869.2bR167.6b4.3x6.9x1.3x
Wed, 31 May 2023R1.3tR898.1bR183.0b4.5x7.3x1.5x
Fri, 28 Apr 2023R1.4tR883.8bR182.0b5x7.6x1.6x
Sun, 26 Mar 2023R1.2tR862.5bR169.5b4.5x7.3x1.4x
Tue, 21 Feb 2023R1.3tR897.9bR194.1b5x6.5x1.4x
Thu, 19 Jan 2023R1.5tR890.0bR197.1b5.9x7.4x1.6x
Sat, 17 Dec 2022R1.4tR894.3bR197.6b5.5x6.8x1.5x
Mon, 14 Nov 2022R1.4tR890.9bR196.9b5.4x7.3x1.6x
Price to Earnings Ratio

7.3x


Total Market Cap: R1.4tTotal Earnings: R196.9bTotal Revenue: R890.9bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Metals and Mining Industry Price to Earnings3Y Average 36.2x202320242025
Current Industry PE
  • Investors are pessimistic on the South African Metals and Mining industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 29.0x which is lower than its 3-year average PE of 36.2x.
  • 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 34% per year over the last three years,
  • Revenues have also declined 9.0% 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 South African Materials industry?

ZA Market0.25%
Materials-1.13%
Metals and Mining-1.36%
Copper2.94%
Aluminum1.59%
Gold0.16%
Diversified Metals and Mining-0.97%
Steel-2.10%
Precious Metals and Minerals-2.94%
Industry PE
  • Investors are most optimistic about the Aluminum industry which is trading above its 3-year average PE ratio of 7.4x.
    • Analysts are expecting annual earnings growth of 69.5%, which is higher than its past year's earnings decline of 95.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Aluminum industry, expecting annual earnings growth of 69% over the next 5 years.
  • This is better than its past earnings decline of 95% per year.
  • In contrast, the Steel industry is expected to see its earnings decline by 12% 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
GFI Gold FieldsR676.630.5%
+R2.9b		140.2%PE18.5x
SSW Sibanye StillwaterR47.481.4%
+R1.9b		125.1%PS1.2x
MRF Merafe ResourcesR1.131.8%
+R50.0m		-21.0%PE15.6x
CPR Copper 360R0.702.9%
+R13.8m		-78.5%PS3.4x
HLM HulaminR2.561.6%
+R12.5m		-35.8%PE66.1x

Latest News

ARI
R171.75
African Rainbow Minerals
7D
-0.9%
1Y
-4.4%
HAR
R286.95
Harmony Gold Mining
7D
-0.9%
1Y
59.1%

HAR: Revenue Gains And Margin Expansion Will Drive Share Upside

Analysts have increased their price target for Harmony Gold Mining from $330.71 to $336.67. They cite improving revenue growth and expanding profit margins as key factors behind the more optimistic outlook.
KIO
R334.57
Kumba Iron Ore
7D
-2.0%
1Y
-6.9%

KIO: Future Production Will Face Risk From Maintenance And Plant Upgrades

Analysts have raised their price target for Kumba Iron Ore from R320.88 to R323.58. This reflects updated expectations around the company’s outlook and underlying financial metrics.
GFI
R676.63
Gold Fields
7D
0.5%
1Y
140.2%

GFI: Windfall Progress Will Drive Medium-Term Upside Following Australian Mine Deal

Analysts have raised Gold Fields' fair value estimate by approximately $85 to $789, citing updated forecasts for improved profit margins, revenue growth, as well as a supportive outlook for gold prices and capital returns. Analyst Commentary Recent Street research on Gold Fields highlights both optimism and caution among analysts regarding the company’s future prospects, as reflected in recent ratings and price target adjustments.
IMP
R188.60
Impala Platinum Holdings
7D
-3.6%
1Y
57.4%

IMP: Rising Earnings Guidance Will Drive Renewed Optimism Despite 79% EPS Decline

Analysts have raised their price target for Impala Platinum Holdings from $210.88 to $219.52, citing moderate improvements in fair value estimates as well as future earnings multiples. What's in the News Impala Platinum Holdings issued new earnings guidance for the year ending 30 June 2025 (Key Developments).
NPH
R267.50
Northam Platinum Holdings
7D
-6.9%
1Y
109.9%

NPH: Dividend Increase And Steady Margins Will Offset Elevated Discount Rate

Analysts have raised their price target for Northam Platinum Holdings from R261.44 to R276.44. This reflects increased conviction in the company's fair value, despite a slight uptick in the assumed discount rate and future price-to-earnings ratio.
VAL
R1,054.67
Valterra Platinum
7D
-3.1%
1Y
51.6%

VAL: Price Rally Will Face Risks From Ongoing Competitive Pressures

Narrative Update: Valterra Platinum Analyst Price Target Revised Valterra Platinum's analyst price target has increased by £600 to £3,200 per share. Analysts cite higher fair value estimates and stable profit margins as key drivers for their updated outlook.
SSW
R47.48
Sibanye Stillwater
7D
1.4%
1Y
125.1%

Improving Metal Prices And Leadership Changes Will Drive Profit Outlook

Analysts have raised their price target for Sibanye Stillwater to $8.50, up from $7. This decision is based on anticipated gains from stronger platinum group metal performance and improving profit outlooks.
HLM
R2.56
Hulamin
7D
1.6%
1Y
-35.8%

Hulamin's (JSE:HLM) Returns Have Hit A Wall

Oct 22
Hulamin's (JSE:HLM) Returns Have Hit A Wall
RNG
R0.68
Randgold & Exploration
7D
13.3%
1Y
-9.3%
CPR
R0.70
Copper 360
7D
2.9%
1Y
-78.5%
MDI
R15.50
Master Drilling Group
7D
-1.9%
1Y
12.7%

We Like These Underlying Return On Capital Trends At Master Drilling Group (JSE:MDI)

Oct 07
We Like These Underlying Return On Capital Trends At Master Drilling Group (JSE:MDI)
ACL
R1.37
ArcelorMittal South Africa
7D
-11.0%
1Y
3.8%

Is ArcelorMittal South Africa (JSE:ACL) Using Debt Sensibly?

Sep 08
Is ArcelorMittal South Africa (JSE:ACL) Using Debt Sensibly?
MRF
R1.13
Merafe Resources
7D
1.8%
1Y
-21.0%