Centamin plc

TSX:CEE Stock Report

Market Cap: CA$3.0b

Centamin Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: CEE (CA$2.48) is trading below our estimate of fair value (CA$3.46)

Significantly Below Fair Value: CEE is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As CEE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CEE. This is calculated by dividing CEE's market cap by their current earnings.
What is CEE's PE Ratio?
PE Ratio25.5x
EarningsUS$84.67m
Market CapUS$2.16b

Price to Earnings Ratio vs Peers

How does CEE's PE Ratio compare to its peers?

The above table shows the PE ratio for CEE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.9x
OGC OceanaGold
33.9x58.0%CA$3.1b
NGD New Gold
111.8x85.9%CA$3.1b
TXG Torex Gold Resources
15.3x39.0%CA$2.7b
EQX Equinox Gold
10.6x18.1%CA$3.6b
CEE Centamin
25.5x21.7%CA$1.7b

Price-To-Earnings vs Peers: CEE is good value based on its Price-To-Earnings Ratio (25.5x) compared to the peer average (42.9x).

Price to Earnings Ratio vs Industry

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

33 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SLI Standard Lithium
2.9xn/aUS$325.70m
APM Andean Precious Metals
2.4x-42.9%US$133.57m
STGO Steppe Gold
2.3xn/aUS$117.57m
DC.A Dundee
2.3xn/aUS$106.83m
CEE 25.5xIndustry Avg. 12.5xNo. of Companies33PE01632486480+
33 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CEE is expensive based on its Price-To-Earnings Ratio (25.5x) compared to the Canadian Metals and Mining industry average (12.5x).

Price to Earnings Ratio vs Fair Ratio

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

CEE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.5x
Fair PE Ratio21.9x

Price-To-Earnings vs Fair Ratio: CEE is expensive based on its Price-To-Earnings Ratio (25.5x) compared to the estimated Fair Price-To-Earnings Ratio (21.9x).

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 CEE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$2.48
CA$3.04
+22.5%
9.1%CA$3.65CA$2.74n/a7
Nov ’25CA$2.78
CA$2.97
+6.7%
9.6%CA$3.63CA$2.72n/a7
Oct ’25CA$2.63
CA$2.87
+9.0%
8.4%CA$3.30CA$2.60n/a8
Sep ’25CA$2.19
CA$2.78
+27.0%
11.7%CA$3.29CA$2.08n/a10
Aug ’25CA$2.16
CA$2.84
+31.6%
12.2%CA$3.38CA$2.07n/a10
Jul ’25CA$2.10
CA$2.67
+27.0%
10.0%CA$3.11CA$2.03n/a10
Jun ’25CA$2.08
CA$2.55
+22.4%
13.7%CA$2.94CA$1.82n/a11
May ’25CA$2.06
CA$2.47
+19.9%
12.6%CA$2.88CA$1.83n/a11
Apr ’25CA$1.93
CA$2.35
+21.8%
11.4%CA$2.74CA$1.88n/a11
Mar ’25CA$1.57
CA$2.32
+47.9%
11.4%CA$2.74CA$1.87n/a11
Feb ’25CA$1.62
CA$2.31
+42.8%
11.4%CA$2.73CA$1.86n/a11
Jan ’25CA$1.69
CA$2.24
+32.6%
13.7%CA$2.67CA$1.61n/a10
Dec ’24CA$1.75
CA$2.21
+26.1%
12.9%CA$2.71CA$1.64n/a10
Nov ’24CA$1.39
CA$2.21
+58.9%
11.4%CA$2.52CA$1.65CA$2.7810
Oct ’24CA$1.37
CA$2.23
+63.0%
12.5%CA$2.62CA$1.72CA$2.6310
Sep ’24CA$1.48
CA$2.31
+56.0%
12.5%CA$2.63CA$1.72CA$2.1910
Aug ’24CA$1.64
CA$2.27
+38.5%
12.6%CA$2.58CA$1.69CA$2.1610
Jul ’24CA$1.51
CA$2.16
+43.3%
14.2%CA$2.53CA$1.49CA$2.1010
Jun ’24CA$1.68
CA$2.16
+28.6%
12.0%CA$2.44CA$1.54CA$2.0810
May ’24CA$1.73
CA$2.17
+25.7%
11.7%CA$2.45CA$1.56CA$2.0610
Apr ’24CA$1.74
CA$2.12
+22.0%
11.7%CA$2.46CA$1.56CA$1.9310
Mar ’24CA$1.72
CA$2.15
+24.9%
9.5%CA$2.52CA$1.81CA$1.579
Feb ’24CA$1.83
CA$2.13
+16.7%
8.9%CA$2.48CA$1.84CA$1.629
Jan ’24CA$1.84
CA$2.17
+17.9%
11.2%CA$2.69CA$1.75CA$1.6910
Dec ’23CA$1.79
CA$2.02
+12.6%
16.4%CA$2.66CA$1.52CA$1.7510
Nov ’23CA$1.41
CA$1.91
+35.3%
14.9%CA$2.54CA$1.54CA$1.3910

Analyst Forecast: Target price is less than 20% higher than the current share price.

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