Northern Minerals Valuation

Is NTU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NTU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate NTU's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NTU's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NTU?

Key metric: As NTU is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NTU. This is calculated by dividing NTU's market cap by their current revenue.
What is NTU's PS Ratio?
PS Ratio	37.8x
Sales	AU$4.47m
Market Cap	AU$160.77m

NTU key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	37.6x
Enterprise Value/EBITDA	-5.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does NTU's PS Ratio compare to its peers?

The above table shows the PS ratio for NTU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	12.1x
29M 29Metals	0.6x	13.5%	AU$259.8m
SYR Syrah Resources	3.8x	43.1%	AU$232.9m
JMS Jupiter Mines	34x	n/a	AU$294.0m
ATR Astron	10x	n/a	AU$117.9m
NTU Northern Minerals	37.8x	84.2%	AU$160.8m

Price-To-Sales vs Peers: NTU is expensive based on its Price-To-Sales Ratio (37.8x) compared to the peer average (12.1x).

Price to Sales Ratio vs Industry

How does NTU's PS Ratio compare vs other companies in the AU Metals and Mining Industry?

123 Companies	Price / Sales	Estimated Growth	Market Cap
BHP BHP Group	2.4x	-3.1%	US$133.75b
FMG Fortescue	2.1x	-5.6%	US$37.92b
NCM Newcrest Mining	3x	5.2%	US$13.37b
NST Northern Star Resources	3.8x	8.9%	US$12.34b

123 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: NTU is good value based on its Price-To-Sales Ratio (37.8x) compared to the Australian Metals and Mining industry average (63.1x).

Price to Sales Ratio vs Fair Ratio

What is NTU's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NTU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	37.8x
Fair PS Ratio	126x

Price-To-Sales vs Fair Ratio: NTU is good value based on its Price-To-Sales Ratio (37.8x) compared to the estimated Fair Price-To-Sales Ratio (126x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NTU forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	AU$0.021	AU$0.04 +90.5%	25.0%	AU$0.05	AU$0.03	n/a	2
Nov ’25	AU$0.02	AU$0.04 +100.0%	25.0%	AU$0.05	AU$0.03	n/a	2
Oct ’25	AU$0.019	AU$0.045 +136.8%	11.1%	AU$0.05	AU$0.04	n/a	2
Sep ’25	AU$0.025	AU$0.045 +80.0%	11.1%	AU$0.05	AU$0.04	n/a	2
Aug ’25	AU$0.031	AU$0.045 +45.2%	11.1%	AU$0.05	AU$0.04	n/a	2
Jun ’25	AU$0.036	AU$0.045 +25.0%	11.1%	AU$0.05	AU$0.04	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.