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Maverix Metals Valuation

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

MMX (CA$6.67) is trading above our estimate of [[fair value]] (CA$5.37)

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: MMX (CA$6.67) is trading above our estimate of fair value (CA$5.37)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MMX. This is calculated by dividing MMX's market cap by their current earnings.
What is MMX's PE Ratio?
PE Ratio	59.4x
Earnings	US$12.30m
Market Cap	US$730.02m

MMX 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	12.3x
Enterprise Value/EBITDA	22.1x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MMX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	35.9x
KRR Karora Resources	86.5x	n/a	CA$1.2b
ORA Aura Minerals	n/a	66.8%	CA$1.2b
KNT K92 Mining	19.1x	29.9%	CA$2.0b
VGCX Victoria Gold	2.1x	n/a	CA$32.5m
MMX Maverix Metals	59.4x	n/a	CA$983.0m

Price-To-Earnings vs Peers: MMX is good value based on its Price-To-Earnings Ratio (59.4x) compared to the peer average (61.2x).

Price to Earnings Ratio vs Industry

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

36 Companies	Price / Earnings	Estimated Growth	Market Cap
IMG IAMGOLD	3.9x	-10.3%	US$2.84b
SLI Standard Lithium	2.6x	n/a	US$322.28m
QRC Queen's Road Capital Investment	2.2x	n/a	US$244.29m
STGO Steppe Gold	2.3x	n/a	US$123.82m

36 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MMX is expensive based on its Price-To-Earnings Ratio (59.4x) compared to the Canadian Metals and Mining industry average (12.7x)

Price to Earnings Ratio vs Fair Ratio

What is MMX'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.

MMX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	59.4x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MMX's Price-To-Earnings 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 MMX 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	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Nov ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Oct ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Sep ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Aug ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Jul ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Jun ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
May ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Apr ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Mar ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Feb ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Jan ’25	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Dec ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Nov ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Oct ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Sep ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Aug ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Jul ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Jun ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
May ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Apr ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Mar ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Feb ’24	n/a	CA$6.38 0%	16.3%	CA$8.00	CA$5.25	n/a	4
Jan ’24	CA$6.32	CA$6.90 +9.2%	20.3%	CA$9.00	CA$5.25	n/a	5
Dec ’23	CA$6.20	CA$7.15 +15.3%	17.9%	CA$9.00	CA$5.25	n/a	5
Nov ’23	CA$4.48	CA$7.55 +68.5%	12.4%	CA$9.00	CA$6.00	n/a	8

Analyst Forecast: Target price is lower than the current share price.

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