Metals & Mining Valuation Multiples and Public Comps

Metals & Mining

See analyst estimates and all valuation multiples for Metals & Mining

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
BHP Group	$145B	2.8x	5.6x
Rio Tinto Ltd	$137B	2.5x	6.1x
Rio Tinto plc	$115B	2.1x	5.1x
Zijin Mining	$110B	2.2x	10.7x
Southern Copper	$90.6B	7.6x	13.4x
Glencore	$87.5B	0.4x	6.6x
Newmont	$87.0B	4.3x	8.0x
Howmet Aerospace	$80.1B	10.1x	36.1x
Agnico Eagle Mines	$76.5B	7.4x	11.5x
Freeport-McMoRan	$69.3B	2.6x	6.4x
Maaden	$65.4B	6.9x	17.7x
Vale	$59.8B	1.6x	4.1x
Grupo México	$57.2B	3.4x	6.4x
Barrick Mining	$51.1B	3.4x	5.7x
Wheaton Precious Metals	$46.4B	25.8x	32.6x
Anglo American	$45.1B	2.1x	6.6x
JSW Steel	$42.5B	2.1x	13.2x
Amman Mineral Internasion	$40.6B	18.0x	32.5x
Fortescue	$38.9B	2.5x	5.1x
Franco-Nevada	$38.7B	25.9x	29.2x
Bayan Resources	$36.1B	n/a	n/a
Gold Fields	$35.4B	4.9x	7.7x
Nucor	$35.2B	1.1x	8.1x
CMOC Group	$35.2B	1.2x	7.1x
CMOC Group	$35.2B	1.2x	7.1x
Nippon Steel	$35.1B	0.6x	5.1x
China Hongqiao Group	$34.7B	1.6x	5.6x
ArcelorMittal	$34.2B	0.5x	4.9x
Tata Steel	$33.8B	1.3x	9.9x
Anglogold Ashanti	$32.9B	4.0x	7.1x
Antofagasta	$31.9B	4.2x	7.5x
Shandong Gold Mining	$29.4B	2.1x	10.9x
Kinross Gold	$27.1B	4.3x	7.6x
Yankuang Group	$26.4B	1.5x	5.0x
Vedanta	$26.3B	1.5x	5.1x
Shaanxi Coal Industry	$26.0B	1.1x	3.8x
China Northern Rare Earth	$24.7B	4.7x	43.6x
Baosteel	$24.4B	0.6x	5.6x
Coal India	$24.4B	1.5x	4.7x
POSCO Holdings	$24.2B	0.5x	5.0x
Steel Dynamics	$23.9B	1.3x	10.1x
Hindalco	$23.6B	0.9x	6.4x
Teck Resources	$22.6B	2.8x	7.4x
Aluminum Corp of China	$22.4B	0.7x	4.2x
Hindustan Zinc	$22.0B	5.6x	10.8x
First Quantum Minerals	$21.3B	4.3x	13.0x
Fresnillo	$20.8B	5.4x	10.4x
Northern Star Resources	$19.2B	4.3x	8.2x
China Coal	$19.2B	0.8x	3.6x
China Steel	$16.7B	1.5x	14.2x
Industrias Penoles	$16.7B	0.1x	0.4x
Reliance	$16.6B	1.2x	11.8x
Korea Zinc	$15.1B	1.5x	15.1x
Lundin Gold	$14.7B	9.6x	13.9x
Pan American Silver	$14.6B	4.5x	10.3x
Norsk Hydro	$14.5B	0.7x	5.0x
Cerro Verde	$14.0B	3.4x	6.7x
Jindal Steel	$13.5B	2.3x	10.9x
Alamos Gold	$13.1B	7.7x	12.7x
Ivanhoe Mines	$12.9B	39.8x	20.7x
MP Materials	$12.9B	48.0x	-1104.5x
Evolution Mining	$12.8B	4.4x	8.6x
Carpenter Technology	$12.7B	4.1x	18.1x
ATI	$12.7B	2.8x	15.8x
Royal Gold	$12.4B	13.9x	17.1x
Boliden	$12.3B	1.3x	6.5x
Metlen Energy & Metals	$12.0B	n/a	n/a
South Bow	$11.2B	5.5x	10.7x
Coeur Mining	$10.7B	6.4x	14.0x
Lundin Mining	$10.6B	2.8x	6.6x
Mueller Industries	$10.1B	2.5x	n/a
Endeavour Mining	$9.6B	1.4x	2.6x
Alcoa	$9.6B	0.8x	5.4x
Lynas Rare Earths	$9.5B	21.3x	74.6x
Equinox Gold	$9.5B	4.3x	10.3x
Harmony Gold Mining Co	$8.9B	2.0x	4.7x
KGHM	$8.8B	0.9x	3.9x
Mineral Resources	$8.4B	2.8x	13.1x
Companhia Siderurgica	$8.0B	1.0x	4.1x
Gerdau	$7.9B	0.6x	4.1x
ESAB	$7.6B	2.9x	14.4x
South32	$7.6B	1.3x	4.3x
Hecla Mining	$7.5B	7.0x	17.6x
Iamgold	$7.3B	3.2x	6.2x
Commercial Metals	$7.1B	0.9x	8.5x
OR Royalties	$6.7B	28.3x	33.0x
Capstone Copper	$6.5B	3.1x	8.4x
Ternium	$6.1B	0.4x	3.2x
B2Gold	$5.9B	2.1x	3.6x
Hudbay Minerals	$5.8B	2.6x	5.8x
Triple Flag Precious	$5.8B	17.4x	21.3x
Erdemir Demir Ve Celik	$5.7B	1.1x	9.2x
Eldorado Gold	$5.6B	3.5x	6.9x
New Gold	$5.6B	4.4x	7.9x
Artemis Gold	$5.5B	11.8x	17.0x
Aurubis	$5.0B	0.2x	7.0x
EVRAZ	$4.9B	n/a	n/a
Compania De Minas	$4.7B	3.6x	n/a
First Majestic Silver	$4.6B	5.1x	11.8x
Pilbara Minerals	$4.6B	8.6x	56.3x
Acerinox	$4.6B	0.7x	8.2x
SSAB	$4.6B	0.4x	3.9x
SSR Mining	$4.4B	3.1x	9.0x
CSN Mineracao	$4.3B	1.5x	4.4x
Constellium	$4.3B	0.5x	6.8x
thyssenkrupp	$4.3B	0.1x	2.8x
OceanaGold	$4.3B	2.7x	5.1x
Ramelius Resources	$3.9B	5.2x	7.7x
Genesis Minerals	$3.9B	5.8x	11.5x
G Mining Ventures	$3.9B	8.7x	12.2x
Sandfire Resources	$3.8B	3.2x	7.0x
Orla Mining	$3.8B	n/a	n/a
Sandstorm Gold	$3.8B	18.4x	23.6x
Eramet	$3.7B	1.0x	8.4x
Minsur	$3.7B	1.5x	2.4x
Metalurgica Gerdau	$3.7B	n/a	n/a
Torex Gold Resources	$3.5B	2.8x	5.3x
NGEx Minerals	$3.3B	n/a	-51.1x
Capricorn Metals	$3.1B	9.0x	15.4x
Perseus Mining	$3.0B	2.4x	4.2x
Century Aluminum	$3.0B	1.2x	8.1x
Nickel Industries	$2.9B	1.7x	8.9x
Grupo Simec	$2.9B	n/a	n/a
Grupa Kęty	$2.8B	1.8x	10.1x
Nanshan Aluminium Intl	$2.6B	n/a	n/a
Iskenderun Demir ve Celik	$2.6B	n/a	n/a
K92 Mining	$2.6B	5.4x	8.4x
Vault Minerals	$2.6B	2.7x	6.0x
Peabody Energy	$2.5B	0.6x	4.5x
Regis Resources	$2.5B	2.2x	4.5x
Minera Frisco	$2.4B	n/a	n/a
Greatland Resources	$2.4B	3.4x	6.9x
Westgold Resources	$2.4B	2.5x	6.1x
Compania Minera Poderosa	$2.4B	n/a	n/a
CAP	$2.4B	1.3x	5.0x
West African Resources	$2.4B	3.0x	5.0x
Gold Road Resources	$2.4B	5.0x	8.1x
Kaiser Aluminum	$2.4B	0.7x	9.3x
Salzgitter	$2.3B	0.2x	5.3x
Ero Copper	$2.3B	3.4x	6.6x
Seabridge Gold	$2.3B	n/a	-166.7x
Fortuna Mining	$2.3B	2.2x	4.2x
TMC The Metals Co	$2.2B	n/a	-32.2x
Outokumpu	$2.2B	0.3x	8.3x
IGO	$2.2B	6.6x	878.6x
Nexa Res	$2.2B	0.8x	3.5x
Iluka Resources	$2.1B	3.0x	8.2x
Sims	$2.1B	0.4x	7.4x
AVZ Minerals	$2.1B	n/a	n/a
Champion Iron	$2.1B	1.7x	6.3x
Industrias Ch	$2.1B	0.9x	3.7x
Elvalhalcor	$2.0B	0.5x	6.6x
Skeena Resources	$1.9B	n/a	n/a
Endeavour Silver	$1.9B	5.3x	22.7x
Worthington Steel	$1.9B	0.6x	8.3x
Aluar Aluminio Argentino	$1.9B	n/a	n/a
Alleima	$1.9B	0.9x	6.7x
Granges	$1.8B	0.7x	7.1x
Invercap	$1.8B	n/a	n/a
International Gemological Institute	$1.8B	13.6x	23.2x
Liontown Resources	$1.8B	8.0x	49.1x
Emerald Resources	$1.7B	5.7x	11.6x
Almasane Alkobra Mining	$1.7B	8.0x	15.7x
AMG Critical Materials	$1.6B	0.9x	7.8x
Koza Altin Izletmeleri	$1.6B	n/a	n/a
Compass Minerals Intl	$1.5B	1.2x	7.8x
AMAG Austria Metall	$1.5B	0.9x	9.0x
Perpetua Resources	$1.5B	n/a	n/a
Centerra Gold	$1.4B	1.1x	3.6x
Usinas Siderurgicas	$1.4B	0.3x	3.8x
Pantoro Gold	$1.4B	5.1x	9.5x
MAC Copper	$1.3B	3.4x	6.9x
Resolute Mining	$1.3B	1.5x	3.3x
Catalyst Metals	$1.2B	3.9x	8.5x
JSW S.A.	$1.2B	0.4x	3.1x
Ora Banda Mining	$1.2B	3.7x	8.1x
Bellevue Gold	$1.1B	3.1x	7.4x
Ternium Argentina	$1.1B	n/a	n/a
Volcan Compania Minera	$1.1B	n/a	n/a
Molibdenos y Metales	$1.1B	n/a	n/a
Companhia Brasileira de	$1.1B	0.7x	4.6x
Honbridge Holdings	$1.1B	n/a	n/a
Corporacion Aceros	$1.0B	n/a	n/a
Paranapanema	$1.0B	n/a	n/a
Tubacex	$998M	1.0x	7.0x
Kardemir Karabuk Demir	$992M	0.6x	7.2x
Troax Group	$961M	3.0x	15.3x
Atalaya Mining Copper	$958M	2.0x	6.5x
Sociedad Punta del Cobre	$936M	n/a	n/a
Alkane Resources	$925M	3.8x	8.9x
BCI Minerals	$908M	n/a	-31.3x
Algoma Steel Group	$888M	n/a	n/a
Cia Electro Metalurgica	$882M	n/a	n/a
Tupy	$871M	0.4x	4.0x
Ferroglobe	$858M	0.6x	10.6x
SolGold	$856M	n/a	-56.8x
Develop Global	$850M	4.4x	19.4x
WA1 Resources	$834M	n/a	-179.8x
Sigma Lithium	$807M	4.9x	47.0x
KME Group	$805M	n/a	n/a
Izmir Demir Celik Sanayi	$804M	n/a	n/a
McEwen	$797M	3.9x	9.6x
Solaris Resources	$797M	n/a	-14.8x
Mineros	$750M	1.2x	n/a
Kocaer Celik Sanayi ve	$713M	n/a	n/a
Coronado Global Resources	$712M	0.3x	354.7x
Osisko Development	$698M	n/a	n/a
Lithium Argentina	$688M	n/a	-20.4x
Critical Metals	$688M	n/a	-56.7x
NWPX Infrastructure	$650M	1.3x	9.9x
Politeknik Metal	$638M	n/a	n/a
Olympic Steel	$633M	0.3x	9.0x
Alro	$603M	n/a	n/a
Visne Madencilik	$577M	n/a	n/a
Cognor Holding	$561M	0.9x	24.9x
Pensana	$544M	n/a	n/a
Metallus	$522M	0.5x	6.1x
Dateline Resources	$520M	n/a	n/a
CVK Maden Isletmeleri	$506M	n/a	n/a
Lithium Americas	$479M	n/a	-15.9x
Sociedad Minera El Brocal	$478M	n/a	n/a
Metals Exploration	$468M	2.3x	3.9x
Mennica Polska	$462M	n/a	n/a
Nexa Resources Peru	$453M	n/a	n/a
Lifezone Metals	$425M	10714.0x	-17.2x
NioCorp Developments	$422M	n/a	-27.7x
ACG Metals	$396M	3.8x	8.5x
Tubos Reunidos	$392M	n/a	n/a
Ferbasa	$389M	n/a	n/a
Ecora Resources	$385M	7.0x	9.4x
Endomines Finland	$372M	7.3x	19.9x
Ferrexpo	$371M	0.4x	8.2x
Hycroft Mining Holding	$368M	68.4x	-9.3x
Empire Metals	$357M	n/a	n/a
AltynGold	$336M	n/a	n/a
Cintac	$332M	n/a	n/a
Meridian Mining UK	$325M	n/a	-18.8x
Nouveau Monde Graphite	$311M	n/a	n/a
Aclara Resources	$310M	n/a	-51.8x
Central Asia Metals	$296M	1.4x	3.1x
Tharisa	$293M	0.5x	2.3x
Compania Minera Autlan	$274M	0.8x	7.1x
Rana Gruber	$269M	1.7x	4.6x
Sherritt	$268M	2.4x	15.7x
Nordic Mining	$267M	32.4x	-18.1x
Bravo Mining	$253M	n/a	-130.2x
Kore Potash	$246M	n/a	n/a
ZJK Industrial	$228M	n/a	n/a
Ramada Investimentos	$228M	17.0x	20.7x
Sociedad Minera Corona	$225M	n/a	n/a
Foraco Intl	$221M	0.8x	4.0x
U.S. Gold	$215M	n/a	-18.4x
PanAtlantica	$207M	n/a	n/a
Serabi Gold	$207M	1.7x	3.7x
Largo	$203M	1.7x	-202.9x
Guardian Metal Resources	$199M	527.5x	-77.9x
Friedman Indus	$189M	n/a	n/a
Vox Royalty	$183M	14.3x	27.8x
Namib Minerals	$168M	n/a	n/a
Mangata Holding	$159M	0.7x	5.3x
Jubilee Metals Group	$156M	n/a	n/a
Antioquia Gold	$145M	n/a	n/a
Gruvaktiebolaget Viscaria	$143M	n/a	-26.3x
Unior Kovaska industrija	$137M	n/a	n/a
ProfilGruppen	$132M	n/a	n/a
Eurasia Mining	$131M	14.6x	n/a
BE Group	$129M	n/a	n/a
Rainbow Rare Earths	$127M	n/a	-31.1x
Asturiana de Laminados	$118M	n/a	n/a
US Goldmining	$114M	n/a	n/a
Minera IRL	$113M	n/a	n/a
KEFI Gold and Copper	$111M	n/a	-32.2x
Mangels Industrial	$110M	n/a	n/a
HAKI Safety	$110M	0.9x	6.0x
NexMetals Mining	$106M	n/a	n/a
Izostal	$104M	n/a	n/a
FST	$101M	n/a	n/a
Odyssey Marine Explr	$100M	n/a	n/a
Stalprodukt	$100.0M	0.1x	1.5x
Atlas Lithium	$89.1M	n/a	n/a
Hongli Group	$87.8M	n/a	n/a
Elastron	$81.1M	n/a	n/a
Mingteng International	$79.7M	n/a	n/a
Ascent Industries	$79.5M	0.4x	n/a
Makstil	$79.3M	n/a	n/a
Installux	$78.1M	n/a	n/a
Scully Royalty	$77.2M	n/a	n/a
Gulf Island Fabrication	$71.7M	0.5x	7.5x
Afarak Group	$70.1M	n/a	n/a
Electra Battery Materials	$68.9M	n/a	n/a
AGES Industri	$68.9M	0.5x	n/a
Akobo Minerals	$66.5M	n/a	n/a
MFO	$66.0M	n/a	n/a
Sotkamo Silver	$55.7M	0.1x	0.5x
Componenta	$54.0M	0.4x	5.5x
Botnia Gold	$53.5M	8.7x	n/a
Pulsar Helium	$49.7M	n/a	n/a
Wishbone Gold	$48.4M	n/a	n/a
Mawson Finland	$46.2M	n/a	n/a
ZBM ZREMB-Chojnice	$40.1M	n/a	n/a
Odlewnie Polskie	$33.5M	n/a	n/a
Euromax Resources	$29.5M	n/a	n/a
Fabryki Sprzetu I	$28.4M	n/a	n/a
Liberti Skopje	$26.9M	n/a	n/a
Nordic Iron Ore	$24.8M	n/a	n/a
Drillcon	$24.2M	n/a	n/a
Bluelake Mineral	$20.8M	n/a	n/a
Bowim	$20.7M	n/a	n/a
Alumil Rom Industry	$20.4M	n/a	n/a
PGF Polska Grupa	$13.5M	n/a	n/a
Pearl Gold	$12.9M	n/a	n/a
Coil	$10.3M	n/a	n/a
Lappland	$8.9M	n/a	n/a
Gold By Gold	$8.7M	n/a	n/a
Mahvie Minerals	$7.4M	n/a	n/a
Cell Impact	$7.3M	1.8x	-1.0x
Nordic Flanges Group	$5.3M	0.2x	10.6x
Lovisagruvan	$4.3M	n/a	n/a
Green Minerals	$4.0M	n/a	n/a
Precomp Solutions	$3.4M	n/a	n/a
Eurobattery Minerals	$3.2M	n/a	n/a
Galvo	$2.5M	n/a	n/a
EKOPOL Gornoslaski	$1.3M	n/a	n/a
Africa Resources	$1.2M	n/a	n/a
Amnode	$0.7M	n/a	n/a
Zamet	-$3.0M	n/a	n/a