Analysts have raised their price target for Saudi Arabian Mining Company (Ma'aden) from SAR 51.66 to SAR 54.08. They cited stronger projected revenue growth, despite slightly lower profit margins and a higher anticipated price-to-earnings ratio.
What's in the News
- Ma'aden has expanded its joint venture with Ivanhoe Electric Inc., granting access to an additional 1,345 square kilometers of exploration licenses with significant mineralization potential. This includes areas adjacent to the Mahd Ad Dahab gold mine (Key Developments).
- The company has reaffirmed its 2025 production guidance across key business units. The Phosphate, Aluminum, and BNMN segments are all maintaining output targets, positioning Ma'aden to capitalize on strong market conditions for gold (Key Developments).
- Louis Irvine, Chief Financial Officer since May 2022, will retire in August 2025. Saulat Sultan has been appointed as acting CFO and brings over 20 years of global finance leadership experience to ensure a smooth transition (Key Developments).
Valuation Changes
- Consensus Analyst Price Target has increased from SAR 51.66 to SAR 54.08, reflecting a more optimistic outlook.
- Discount Rate has risen marginally from 19.96% to 19.97%.
- Revenue Growth projection has increased from 2.38% to 4.13%.
- Net Profit Margin estimate has decreased from 25.22% to 22.93%.
- Future P/E ratio is now expected to rise from 37.98x to 41.59x.
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