Foran Mining Corporation

TSX:FOM Stock Report

Market Cap: CA$1.8b

Foran Mining Valuation

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

Below Fair Value: FOM (CA$4.31) is trading above our estimate of fair value (CA$0.36)

Significantly Below Fair Value: FOM is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As FOM 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 FOM. This is calculated by dividing FOM's market cap by their current book value.
What is FOM's PB Ratio?
PB Ratio2.2x
BookCA$808.25m
Market CapCA$1.82b

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for FOM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average15.2x
AFM Alphamin Resources
3xn/aCA$1.5b
NGEX NGEx Minerals
54.2x-5.4%CA$2.6b
LAC Lithium Americas
1.2x12.7%CA$1.1b
ALS Altius Minerals
2.4x9.0%CA$1.2b
FOM Foran Mining
2.2x64.2%CA$1.8b

Price-To-Book vs Peers: FOM is good value based on its Price-To-Book Ratio (2.2x) compared to the peer average (15.2x).

Price to Book Ratio vs Industry

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

89 CompaniesPrice / BookEstimated GrowthMarket Cap
S Sherritt International
0.1xn/aUS$52.57m
WM Wallbridge Mining
0.2xn/aUS$43.61m
NCU Nevada Copper
0.1xn/aUS$31.56m
ELR Eastern Platinum
0.3xn/aUS$26.05m
FOM 2.2xIndustry Avg. 1.4xNo. of Companies156PB01.22.43.64.86+
89 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: FOM is expensive based on its Price-To-Book Ratio (2.2x) compared to the Canadian Metals and Mining industry average (1.4x).

Price to Book Ratio vs Fair Ratio

What is FOM'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.

FOM PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio2.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FOM'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?

The above table shows the analyst FOM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$4.31
CA$5.29
+22.6%
12.5%CA$6.25CA$4.50n/a7
Nov ’25CA$4.37
CA$5.29
+21.0%
12.5%CA$6.25CA$4.50n/a7
Oct ’25CA$4.19
CA$5.29
+26.2%
12.5%CA$6.25CA$4.50n/a7
Sep ’25CA$4.00
CA$4.21
+5.3%
39.6%CA$6.25CA$1.60n/a4
Aug ’25CA$3.86
CA$4.60
+19.2%
32.9%CA$6.25CA$1.60n/a6
Jul ’25CA$3.92
CA$5.25
+33.9%
11.9%CA$6.00CA$4.50n/a7
Jun ’25CA$4.25
CA$5.21
+22.7%
11.3%CA$6.00CA$4.50n/a7
May ’25CA$4.15
CA$5.21
+25.6%
11.3%CA$6.00CA$4.50n/a7
Apr ’25CA$4.17
CA$5.14
+23.3%
11.9%CA$6.00CA$4.25n/a7
Mar ’25CA$3.93
CA$5.11
+30.0%
11.4%CA$6.00CA$4.25n/a7
Feb ’25CA$4.06
CA$5.11
+25.8%
11.4%CA$6.00CA$4.25n/a7
Jan ’25CA$3.90
CA$5.07
+30.0%
12.3%CA$6.00CA$4.25n/a7
Dec ’24CA$4.15
CA$4.81
+15.9%
15.3%CA$6.00CA$4.00n/a5
Nov ’24CA$4.39
CA$4.97
+13.2%
13.6%CA$6.00CA$4.00CA$4.377
Oct ’24CA$3.71
CA$4.61
+24.2%
8.1%CA$5.25CA$4.00CA$4.197
Sep ’24CA$3.83
CA$4.61
+20.3%
8.1%CA$5.25CA$4.00CA$4.007
Aug ’24CA$4.01
CA$4.61
+14.9%
8.1%CA$5.25CA$4.00CA$3.867
Jul ’24CA$3.52
CA$4.41
+25.1%
14.5%CA$5.25CA$2.99CA$3.928
Jun ’24CA$3.31
CA$4.44
+34.0%
14.1%CA$5.25CA$2.99CA$4.258
May ’24CA$3.75
CA$4.44
+18.3%
14.1%CA$5.25CA$2.99CA$4.158
Apr ’24CA$3.95
CA$4.07
+3.0%
15.4%CA$5.25CA$2.99CA$4.177
Mar ’24CA$3.72
CA$3.71
-0.4%
10.4%CA$4.25CA$2.99CA$3.938
Feb ’24CA$3.25
CA$3.52
+8.4%
8.6%CA$4.00CA$2.99CA$4.068
Jan ’24CA$2.99
CA$3.40
+13.8%
9.9%CA$4.00CA$2.97CA$3.908
Dec ’23CA$3.01
CA$3.37
+11.8%
11.7%CA$4.00CA$2.68CA$4.158
Nov ’23CA$2.33
CA$3.25
+39.6%
13.7%CA$4.00CA$2.68CA$4.398

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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