Theta Gold Mines Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Share Price vs Fair Value

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

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

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

Key Valuation Metric

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

Key metric: As TGM is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for TGM. This is calculated by dividing TGM's market cap by their current book value.
What is TGM's PB Ratio?
PB Ratio	-43x
Book	-US$2.12m
Market Cap	US$91.23m

TGM 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	n/a
Enterprise Value/EBITDA	-29.6x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does TGM's PB Ratio compare to its peers?

The above table shows the PB ratio for TGM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	2.9x
POL Polymetals Resources	5.1x	n/a	AU$136.3m
X64 Ten Sixty Four	0.4x	n/a	AU$129.9m
AAR Astral Resources	4.4x	n/a	AU$150.5m
AUC Ausgold	1.8x	n/a	AU$160.3m
TGM Theta Gold Mines	n/a	n/a	AU$140.2m

Price-To-Book vs Peers: TGM has negative equity and a Price-To-Book Ratio (-43x) compared to the peer average (3.8x).

Price to Book Ratio vs Industry

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

15 Companies	Price / Book	Estimated Growth	Market Cap
HAS Hastings Technology Metals	0.2x	12.6%	US$32.94m
JRV Jervois Global	0.1x	n/a	US$21.10m
ADN Andromeda Metals	0.2x	25.5%	US$15.60m
CTO Citigold	0.1x	n/a	US$7.81m

15 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: TGM has negative equity and a Price-To-Book Ratio (-43x) compared to the Australian Metals and Mining industry average (1.1x).

Price to Book Ratio vs Fair Ratio

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

TGM PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	-43x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate TGM's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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