Asante Gold Valuation

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

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

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ASE. This is calculated by dividing ASE's market cap by their current revenue.
What is ASE's PS Ratio?
PS Ratio	1x
Sales	US$445.21m
Market Cap	US$430.09m

ASE 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	1.1x
Enterprise Value/EBITDA	11.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ASE 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	2.5x
ORE Orezone Gold	0.8x	15.0%	CA$270.1m
IAU i-80 Gold	4.3x	61.7%	CA$311.7m
GAU Galiano Gold	2.2x	44.8%	CA$516.4m
TRX TRX Gold	2.7x	47.8%	CA$137.0m
ASE Asante Gold	1x	n/a	CA$601.3m

Price-To-Sales vs Peers: ASE is good value based on its Price-To-Sales Ratio (1x) compared to the peer average (2.5x).

Price to Sales Ratio vs Industry

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

83 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	2.9x	16.5%
ASE Asante Gold	1x	n/a	US$430.09m
LUN Lundin Mining	1.9x	4.4%	US$7.91b
BTO B2Gold	1.9x	8.7%	US$3.68b

83 Companies		Estimated Growth	Market Cap
Industry Avg.	2.9x	40.3%
ASE Asante Gold	1x	n/a	US$430.09m

No more companies

Price-To-Sales vs Industry: ASE is good value based on its Price-To-Sales Ratio (1x) compared to the Canadian Metals and Mining industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is ASE'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.

ASE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ASE'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?

The above table shows the analyst ASE 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	CA$1.19	CA$2.93 +145.8%	11.1%	CA$3.25	CA$2.60	n/a	2
Nov ’25	CA$1.34	CA$2.93 +118.3%	11.1%	CA$3.25	CA$2.60	n/a	2
Oct ’25	CA$1.40	CA$2.93 +108.9%	11.1%	CA$3.25	CA$2.60	n/a	2
Sep ’25	CA$1.26	CA$2.93 +132.1%	11.1%	CA$3.25	CA$2.60	n/a	2
Aug ’25	CA$1.02	CA$2.93 +186.8%	11.1%	CA$3.25	CA$2.60	n/a	2
Jul ’25	CA$1.16	CA$2.93 +152.2%	11.1%	CA$3.25	CA$2.60	n/a	2
Jun ’25	CA$1.27	CA$2.93 +130.3%	11.1%	CA$3.25	CA$2.60	n/a	2
May ’25	CA$1.15	CA$2.93 +154.3%	11.1%	CA$3.25	CA$2.60	n/a	2
Jun ’24	CA$2.02	CA$2.40 +18.8%	8.3%	CA$2.60	CA$2.20	CA$1.27	2
May ’24	CA$2.09	CA$2.40 +14.8%	8.3%	CA$2.60	CA$2.20	CA$1.15	2
Apr ’24	CA$1.67	CA$2.80 +67.7%	7.1%	CA$3.00	CA$2.60	CA$1.29	2
Jan ’24	CA$1.37	CA$2.55 +86.1%	2.0%	CA$2.60	CA$2.50	CA$1.42	2
Dec ’23	CA$1.26	CA$2.55 +102.4%	2.0%	CA$2.60	CA$2.50	CA$1.69	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.

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