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U.K. (FTSE) Gold Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies20
  • 7D10.6%
  • 3M17.6%
  • 1Y186.6%
  • YTDn/a

In the last week, the Gold industry is up 11%, with Pan African Resources up 12%. During this same period, the Wishbone Gold underperformed, falling 7.1%. This means that the industry has gained 187% over the past year. Earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

Has the U.K. Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026UK£7.3bUK£1.9bUK£385.5m13.1x19x3.8x
Tue, 03 Mar 2026UK£9.1bUK£1.8bUK£350.2m21.5x26.1x5.2x
Thu, 29 Jan 2026UK£8.2bUK£1.5bUK£269.5m26x30.3x5.4x
Sat, 27 Dec 2025UK£6.1bUK£1.5bUK£275.7m18.5x22.3x4x
Mon, 24 Nov 2025UK£4.6bUK£1.6bUK£281.7m15.9x16.3x2.9x
Wed, 22 Oct 2025UK£5.0bUK£1.6bUK£275.7m16.5x18.1x3.2x
Fri, 19 Sep 2025UK£4.0bUK£1.5bUK£265.2m12.5x15.2x2.7x
Sun, 17 Aug 2025UK£3.5bUK£1.2bUK£165.0m9.4x21x2.8x
Tue, 15 Jul 2025UK£3.1bUK£1.2bUK£177.6m7.8x17.7x2.6x
Thu, 12 Jun 2025UK£4.9bUK£1.2bUK£187.7m7.1x26.1x4.1x
Sat, 10 May 2025UK£4.8bUK£1.2bUK£183.1m10.8x26.1x3.9x
Mon, 07 Apr 2025UK£4.0bUK£1.2bUK£175.3m9.5x22.8x3.2x
Wed, 05 Mar 2025UK£3.3bUK£1.1bUK£99.7m7.8x32.7x2.9x
Fri, 31 Jan 2025UK£2.9bUK£1.2bUK£61.4m6.1x47.1x2.3x
Sun, 29 Dec 2024UK£2.9bUK£1.2bUK£59.4m5.7x48.5x2.4x
Tue, 26 Nov 2024UK£2.9bUK£1.2bUK£50.4m9.5x57.4x2.4x
Thu, 24 Oct 2024UK£4.9bUK£1.9bUK£115.5m11.7x42.7x2.6x
Sat, 21 Sep 2024UK£4.0bUK£1.9bUK£122.2m9.5x33x2.2x
Mon, 19 Aug 2024UK£3.6bUK£1.8bUK£54.2m7.1x66.9x2x
Wed, 17 Jul 2024UK£3.8bUK£1.8bUK£49.0m8.4x76.9x2.1x
Fri, 14 Jun 2024UK£3.4bUK£1.8bUK£49.2m8.1x69.8x1.9x
Sun, 12 May 2024UK£3.6bUK£2.0bUK£64.4m12x56x1.8x
Tue, 09 Apr 2024UK£3.4bUK£2.0bUK£39.7m14x85.3x1.7x
Thu, 07 Mar 2024UK£3.0bUK£1.9bUK£41.6m12.3x71.5x1.5x
Sat, 03 Feb 2024UK£3.9bUK£4.9b-UK£194,975,152.009x-20x0.8x
Mon, 01 Jan 2024UK£4.1bUK£4.8b-UK£195,413,194.008.2x-20.8x0.8x
Wed, 29 Nov 2023UK£4.1bUK£4.8b-UK£196,469,091.009.8x-20.8x0.8x
Fri, 27 Oct 2023UK£3.5bUK£4.9b-UK£193,809,940.0010x-18.1x0.7x
Sun, 24 Sep 2023UK£3.6bUK£4.9b-UK£197,076,881.007.5x-18.3x0.7x
Tue, 22 Aug 2023UK£3.5bUK£4.8b-UK£161,974,441.007x-21.6x0.7x
Thu, 20 Jul 2023UK£3.7bUK£4.7b-UK£165,288,603.006.5x-22.4x0.8x
Sat, 17 Jun 2023UK£3.5bUK£4.8b-UK£166,515,461.006.1x-21.2x0.7x
Mon, 15 May 2023UK£4.2bUK£4.9b-UK£164,263,617.008.7x-25.9x0.9x
Wed, 12 Apr 2023UK£4.2bUK£4.9b-UK£124,547,335.0010x-34.1x0.9x
Price to Earnings Ratio

-34.1x


Total Market Cap: UK£4.2bTotal Earnings: -UK£124,547,335.00Total Revenue: UK£4.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Gold Industry Price to Earnings3Y Average 23.2x202420252026
Current Industry PE
  • Investors are pessimistic on the British Gold 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 19.0x which is lower than its 3-year average PE of 23.2x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • Total earnings for the Gold industry have gone up over the last three years and the industry is now profitable.
  • Revenues have declined 27% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Comparison

How does U.K. Gold compare with similar industries?

GB Market4.54%
Materials6.81%
Metals and Mining7.14%
Gold10.60%
Diversified Metals and Mining7.22%
Copper5.86%
Aluminum0%0
Silver0%0
Precious Metals and Minerals-0.31%
Steel-0.33%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PAF Pan African ResourcesUK£1.4812.3%
+UK£328.4m		275.6%PE16.4x
HOC Hochschild MiningUK£6.177.8%
+UK£228.9m		145.6%PE20.7x
ACG ACG MetalsUK£14.0023.9%
+UK£65.3m		226.3%PE48.2x
ALTN AltynGoldUK£12.3015.5%
+UK£45.1m		289.9%PE9.8x
SRB Serabi GoldUK£2.9812.5%
+UK£25.0m		120.7%PE6.6x

Latest News

PAF
UK£1.48
Pan African Resources
7D
12.3%
1Y
275.6%

PAF: Production Delivery And Higher Quality Earnings Will Support Re Rating Potential

Analysts have trimmed their fair value estimate for Pan African Resources from about £1.75 to roughly £1.71 per share, reflecting a slightly higher discount rate, modestly softer revenue growth assumptions and a lower projected profit margin, even though the future P/E expectation edges up. Analyst Commentary Recent Street research on Pan African Resources points to a mix of optimism and caution, with price targets adjusted and underlying assumptions refined rather than completely overhauled.
NTVO
UK£0.0031
Nativo Resources
7D
-19.5%
1Y
-74.7%
ACG
UK£14.00
ACG Metals
7D
23.9%
1Y
226.3%
AAU
UK£0.018
Ariana Resources
7D
2.8%
1Y
55.5%
CORA
UK£0.085
Cora Gold
7D
9.0%
1Y
36.0%
SRB
UK£2.98
Serabi Gold
7D
12.5%
1Y
120.7%

SRB: Brownfield Drilling Results Will Drive Stronger Future Upside Potential

Analysts have trimmed their price target on Serabi Gold to reflect slightly lower assumed discount rates and modestly adjusted earnings multiples. This points to a more measured risk outlook while keeping the core fair value narrative broadly unchanged.
HOC
UK£6.17
Hochschild Mining
7D
7.8%
1Y
145.6%

HOC: Higher Margins And 2026 Production Guidance Will Support Bullish Repricing

The updated analyst price target for Hochschild Mining rises by £0.32, supported by analysts citing a higher assumed profit margin and a lower future P/E multiple, while they also apply a slightly higher discount rate and temper revenue growth assumptions. Analyst Commentary Recent Street research on Hochschild Mining shows a series of price target changes and rating shifts that give you a sense of how views are evolving around valuation, growth prospects and execution risk.
GDP
UK£0.15
Goldplat
7D
11.3%
1Y
136.0%

GDP: CFO Transition And Updated Outlook Will Support Repricing Potential

Analysts have raised their price target for Goldplat from £0.168 to £0.202, reflecting updated views on revenue growth, profit margins, and a lower future P/E multiple. What's in the News Chief Financial Officer Brent Doster has resigned from Goldplat plc to take up another opportunity, with his departure scheduled for 4 March 2026 (Key Developments).
ALTN
UK£12.30
AltynGold
7D
15.5%
1Y
289.9%
HAMA
UK£0.0074
Hamak Strategy
7D
-10.3%
1Y
18.4%
WSBN
UK£0.26
Wishbone Gold
7D
-7.1%
1Y
116.7%
ORR
UK£0.0027
Oriole Resources
7D
-3.5%
1Y
75.2%
BMV
UK£0.00071
Bluebird Mining Ventures
7D
-16.0%
1Y
-85.0%
CGNR
UK£0.10
Conroy Gold and Natural Resources
7D
-4.5%
1Y
268.4%