True North Copper Valuation

Is TNC 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 TNC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TNC. This is calculated by dividing TNC's market cap by their current revenue.
What is TNC's PS Ratio?
PS Ratio	12.9x
Sales	AU$2.39m
Market Cap	AU$30.90m

TNC 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	17.3x
Enterprise Value/EBITDA	-2.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TNC 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	15.4x
COB Cobalt Blue Holdings	21.4x	n/a	AU$30.0m
JRV Jervois Global	0.1x	n/a	AU$29.7m
WAK WA Kaolin	11.2x	n/a	AU$28.8m
GT1 Green Technology Metals	28.8x	89.8%	AU$27.2m
TNC True North Copper	12.9x	n/a	AU$30.9m

Price-To-Sales vs Peers: TNC is good value based on its Price-To-Sales Ratio (12.9x) compared to the peer average (15.4x).

Price to Sales Ratio vs Industry

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

122 Companies	Price / Sales	Estimated Growth	Market Cap
BHP BHP Group	2.4x	-4.1%	US$132.38b
FMG Fortescue	2x	-5.6%	US$36.60b
NCM Newcrest Mining	3x	5.2%	US$13.37b
NST Northern Star Resources	4.2x	8.5%	US$13.36b

122 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: TNC is good value based on its Price-To-Sales Ratio (12.9x) compared to the Australian Metals and Mining industry average (61.1x).

Price to Sales Ratio vs Fair Ratio

What is TNC'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.

TNC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	12.9x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate TNC's Price-To-Sales 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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