Zhongjin Gold Corp.,Ltd

SHSE:600489 Stock Report

Market Cap: CN¥61.4b

Zhongjin GoldLtd Valuation

Is 600489 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 600489 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600489 (CN¥12.45) is trading below our estimate of fair value (CN¥29.47)

Significantly Below Fair Value: 600489 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600489?

Key metric: As 600489 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600489. This is calculated by dividing 600489's market cap by their current earnings.
What is 600489's PE Ratio?
PE Ratio17x
EarningsCN¥3.55b
Market CapCN¥61.42b

Price to Earnings Ratio vs Peers

How does 600489's PE Ratio compare to its peers?

The above table shows the PE ratio for 600489 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average31.6x
600547 Shandong Gold Mining
47.6x36.7%CN¥100.0b
600988 Chifeng Jilong Gold MiningLtd
20x21.9%CN¥28.4b
001337 Sichuan Gold
37.4xn/aCN¥9.6b
002237 Shandong Humon Smelting
21.2x39.7%CN¥12.3b
600489 Zhongjin GoldLtd
17x16.4%CN¥61.4b

Price-To-Earnings vs Peers: 600489 is good value based on its Price-To-Earnings Ratio (17x) compared to the peer average (31.6x).

Price to Earnings Ratio vs Industry

How does 600489's PE Ratio compare vs other companies in the CN Metals and Mining Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
600117 Xining Special Steel.Co.Ltd
3.4xn/aUS$1.16b
No more companies available in this PE range
600489 17.0xIndustry Avg. 27.4xNo. of Companies26PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 600489 is good value based on its Price-To-Earnings Ratio (17x) compared to the CN Metals and Mining industry average (27.4x).

Price to Earnings Ratio vs Fair Ratio

What is 600489'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.

600489 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17x
Fair PE Ratio22.6x

Price-To-Earnings vs Fair Ratio: 600489 is good value based on its Price-To-Earnings Ratio (17x) compared to the estimated Fair Price-To-Earnings Ratio (22.6x).

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 600489 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥12.45
CN¥16.22
+30.3%
4.9%CN¥17.29CN¥15.37n/a3
Nov ’25CN¥14.19
CN¥16.22
+14.3%
4.9%CN¥17.29CN¥15.37n/a3
Oct ’25CN¥15.20
CN¥16.10
+5.9%
4.0%CN¥16.94CN¥15.37n/a3
Sep ’25CN¥13.47
CN¥16.47
+22.3%
2.9%CN¥16.94CN¥16.00n/a2
Aug ’25CN¥16.26
CN¥16.07
-1.2%
0.4%CN¥16.13CN¥16.00n/a2
Jul ’25CN¥14.89
CN¥16.07
+7.9%
0.4%CN¥16.13CN¥16.00n/a2
Jun ’25CN¥14.42
CN¥16.07
+11.4%
0.4%CN¥16.13CN¥16.00n/a2
May ’25CN¥13.12
CN¥14.76
+12.5%
12.5%CN¥16.13CN¥12.16n/a3
Apr ’25CN¥13.40
CN¥13.02
-2.8%
5.5%CN¥13.90CN¥12.16n/a3
Mar ’25CN¥10.88
CN¥13.02
+19.7%
5.5%CN¥13.90CN¥12.16n/a3
Feb ’25CN¥9.45
CN¥13.02
+37.8%
5.5%CN¥13.90CN¥12.16n/a3
Jan ’25CN¥9.96
CN¥13.02
+30.7%
5.5%CN¥13.90CN¥12.16n/a3
Dec ’24CN¥10.69
CN¥13.02
+21.8%
5.5%CN¥13.90CN¥12.16n/a3
Nov ’24CN¥10.85
CN¥13.02
+20.0%
5.5%CN¥13.90CN¥12.16CN¥14.193
Oct ’24CN¥10.94
CN¥13.13
+20.0%
10.6%CN¥14.72CN¥10.96CN¥15.204
Sep ’24CN¥11.15
CN¥13.09
+17.4%
9.6%CN¥14.72CN¥10.96CN¥13.475
Aug ’24CN¥10.84
CN¥13.14
+21.2%
8.7%CN¥14.72CN¥10.96CN¥16.266
Jul ’24CN¥10.33
CN¥12.95
+25.4%
11.1%CN¥14.72CN¥10.39CN¥14.895
Jun ’24CN¥11.15
CN¥12.46
+11.7%
16.5%CN¥14.72CN¥8.72CN¥14.425
May ’24CN¥11.92
CN¥12.52
+5.0%
16.8%CN¥14.72CN¥8.72CN¥13.125
Apr ’24CN¥10.53
CN¥11.27
+7.1%
16.3%CN¥13.00CN¥8.72CN¥13.403
Mar ’24CN¥8.71
CN¥10.41
+19.5%
16.2%CN¥12.10CN¥8.72CN¥10.882
Feb ’24CN¥8.86
CN¥10.41
+17.5%
16.2%CN¥12.10CN¥8.72CN¥9.452
Jan ’24CN¥8.19
CN¥10.41
+27.1%
16.2%CN¥12.10CN¥8.72CN¥9.962
Dec ’23CN¥8.19
CN¥10.41
+27.1%
16.2%CN¥12.10CN¥8.72CN¥10.692
Nov ’23CN¥7.60
CN¥9.84
+29.4%
16.3%CN¥12.10CN¥8.69CN¥10.853

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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