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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 14.6x - 16.1x | 15.3x |
Selected Fwd P/E Multiple | 7.1x - 7.8x | 7.4x |
Fair Value | $20.70 - $22.88 | $21.79 |
Upside | 20.1% - 32.8% | 26.5% |
Benchmarks | - | Full Ticker |
Alamos Gold Inc. | - | TSX:AGI |
Barrick Mining Corporation | - | TSX:ABX |
Lundin Gold Inc. | - | TSX:LUG |
Thor Explorations Ltd. | - | TSXV:THX |
B2Gold Corp. | - | TSX:BTO |
Dundee Precious Metals Inc. | - | OTCPK:DPML.F |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
AGI | ABX | LUG | THX | BTO | DPML.F | |||
TSX:AGI | TSX:ABX | TSX:LUG | TSXV:THX | TSX:BTO | OTCPK:DPML.F | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 24.2% | -11.6% | NM- | NM- | NM- | NM- | ||
3Y CAGR | NM- | 2.0% | 24.4% | NM- | NM- | 8.4% | ||
Latest Twelve Months | 74.5% | 60.5% | 172.1% | 457.6% | -208.5% | 25.1% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 11.9% | 22.7% | 17.2% | 19.6% | 10.7% | 29.0% | ||
Prior Fiscal Year | 20.5% | 11.2% | 19.9% | 7.7% | 0.5% | 35.0% | ||
Latest Fiscal Year | 21.1% | 16.6% | 35.7% | 47.2% | -33.1% | 40.1% | ||
Latest Twelve Months | 23.0% | 17.5% | 41.7% | 50.6% | -20.0% | 37.9% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 14.1x | 6.7x | 13.0x | 2.6x | 4.5x | 7.0x | ||
Price / LTM Sales | 7.3x | 2.9x | 9.2x | 1.8x | 2.2x | 4.4x | ||
LTM P/E Ratio | 31.8x | 16.9x | 22.0x | 3.6x | -11.0x | 11.5x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | -11.0x | 16.9x | 31.8x | |||||
Historical LTM P/E Ratio | 4.8x | 7.8x | 20.8x | |||||
Selected P/E Multiple | 14.6x | 15.3x | 16.1x | |||||
(x) LTM Net Income | 249 | 249 | 249 | |||||
(=) Equity Value | 3,622 | 3,812 | 4,003 | |||||
(/) Shares Outstanding | 166.9 | 166.9 | 166.9 | |||||
Implied Value Range | 21.70 | 22.84 | 23.98 | |||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 21.70 | 22.84 | 23.98 | 17.23 | ||||
Upside / (Downside) | 25.9% | 32.5% | 39.2% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | AGI | ABX | LUG | THX | BTO | DPML.F | |
Value of Common Equity | 11,024 | 38,963 | 13,566 | 406 | 4,764 | 2,876 | |
(/) Shares Outstanding | 421.9 | 1,706.0 | 241.3 | 665.3 | 1,323.0 | 166.9 | |
Implied Stock Price | 26.13 | 22.84 | 56.23 | 0.61 | 3.60 | 17.23 | |
FX Conversion Rate to Trading Currency | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 1.00 | |
Implied Stock Price (Trading Cur) | 35.99 | 31.46 | 77.45 | 0.84 | 4.96 | 17.23 | |
Trading Currency | CAD | CAD | CAD | CAD | CAD | USD | |
FX Rate to Reporting Currency | 0.73 | 0.73 | 0.73 | 0.73 | 0.73 | 1.00 |