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Phosphate And Aluminum Expansion Will Challenge Valuation And Create Upside

Published
10 Nov 24
Updated
17 Oct 25
AnalystConsensusTarget's Fair Value
ر.س54.08
18.7% overvalued intrinsic discount
17 Oct
ر.س64.20
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1Y
18.2%
7D
-4.2%

Author's Valuation

ر.س54.0818.7% overvalued intrinsic discount

AnalystConsensusTarget Fair Value

Shared on17 Oct 25

Analysts have maintained their price target for Saudi Arabian Mining Company (Ma'aden) at SAR 54.08. This reflects continued confidence in the company's long-term fundamentals, despite only minor adjustments to underlying financial assumptions.

Shared on03 Oct 25
Fair value Increased 4.69%

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.

Shared on26 Aug 25
Fair value Increased 5.99%

Despite a downgrade in revenue growth expectations, analysts have raised Ma'aden's price target as improving net profit margins support higher fair value, now set at SAR51.66. What's in the News Maintained 2025 production guidance across key business units: Phosphate (DAP output 5,900–6,200 KMT), Primary Aluminum (850–1,150 KMT), FRP (250–310 KMT), and BNMN (475–560 koz); company positioned to benefit from strong gold prices amid market uncertainty.

Shared on23 Apr 25
Fair value Increased 4.25%

Shared on17 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on09 Apr 25
Fair value Decreased 0.34%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on02 Apr 25
Fair value Increased 3.24%

AnalystConsensusTarget has increased revenue growth from 3.8% to 4.2%.

Shared on26 Mar 25
Fair value Decreased 0.35%

AnalystConsensusTarget has decreased revenue growth from 5.3% to 3.8%.

Shared on19 Mar 25
Fair value Increased 2.89%

AnalystConsensusTarget has decreased revenue growth from 7.6% to 5.3% and increased future PE multiple from 39.5x to 45.5x.

Shared on12 Mar 25
Fair value Decreased 8.09%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.