Yunnan Tin Valuation

Is 000960 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 000960 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 000960 (CN¥14.6) is trading below our estimate of fair value (CN¥33.51)

Significantly Below Fair Value: 000960 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 000960?

Key metric: As 000960 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 000960. This is calculated by dividing 000960's market cap by their current earnings.
What is 000960's PE Ratio?
PE Ratio	15.1x
Earnings	CN¥1.60b
Market Cap	CN¥24.03b

000960 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	0.9x
Enterprise Value/EBITDA	8.2x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

How does 000960's PE Ratio compare to its peers?

The above table shows the PE ratio for 000960 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	20.7x
600295 Inner Mongolia ERDOS ResourcesLtd	12.6x	19.3%	CN¥23.9b
600497 Yunnan Chihong Zinc & Germanium	25.2x	22.7%	CN¥29.2b
600549 Xiamen TungstenLtd	16.2x	14.4%	CN¥29.9b
002155 Hunan Gold	28.7x	31.0%	CN¥22.1b
000960 Yunnan Tin	15.1x	20.4%	CN¥24.0b

Price-To-Earnings vs Peers: 000960 is good value based on its Price-To-Earnings Ratio (15.1x) compared to the peer average (20.7x).

Price to Earnings Ratio vs Industry

How does 000960's PE Ratio compare vs other companies in the CN Metals and Mining Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap
600117 Xining Special Steel.Co.Ltd	3.4x	n/a	US$1.15b

No more companies available in this PE range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 000960 is good value based on its Price-To-Earnings Ratio (15.1x) compared to the CN Metals and Mining industry average (27.6x).

Price to Earnings Ratio vs Fair Ratio

What is 000960'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.

000960 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.1x
Fair PE Ratio	22.7x

Price-To-Earnings vs Fair Ratio: 000960 is good value based on its Price-To-Earnings Ratio (15.1x) compared to the estimated Fair Price-To-Earnings Ratio (22.7x).

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 000960 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	CN¥14.60	CN¥19.41 +32.9%	13.5%	CN¥21.50	CN¥15.72	n/a	3
Nov ’25	CN¥15.83	CN¥19.41 +22.6%	13.5%	CN¥21.50	CN¥15.72	n/a	3
Oct ’25	CN¥16.30	CN¥20.00 +22.7%	8.9%	CN¥21.50	CN¥17.50	n/a	3
Sep ’25	CN¥13.95	CN¥20.00 +43.4%	8.9%	CN¥21.50	CN¥17.50	n/a	3
Aug ’25	CN¥14.04	CN¥21.13 +50.5%	1.2%	CN¥21.50	CN¥20.90	n/a	3
Jul ’25	CN¥15.89	CN¥21.13 +33.0%	1.2%	CN¥21.50	CN¥20.90	n/a	3
Jun ’25	CN¥16.80	CN¥21.22 +26.3%	0.9%	CN¥21.50	CN¥21.00	n/a	4
May ’25	CN¥16.49	CN¥21.30 +29.1%	0.7%	CN¥21.50	CN¥21.15	n/a	3
Apr ’25	CN¥15.10	CN¥17.96 +18.9%	14.0%	CN¥21.24	CN¥15.15	n/a	3
Mar ’25	CN¥13.97	CN¥17.96 +28.5%	14.0%	CN¥21.24	CN¥15.15	n/a	3
Feb ’25	CN¥12.16	CN¥17.96 +47.7%	14.0%	CN¥21.24	CN¥15.15	n/a	3
Jan ’25	CN¥14.32	CN¥18.42 +28.6%	12.6%	CN¥21.24	CN¥15.15	n/a	4
Dec ’24	CN¥13.85	CN¥18.42 +33.0%	12.6%	CN¥21.24	CN¥15.15	n/a	4
Nov ’24	CN¥14.13	CN¥18.42 +30.3%	12.6%	CN¥21.24	CN¥15.15	CN¥15.83	4
Oct ’24	CN¥14.33	CN¥18.42 +28.5%	12.6%	CN¥21.24	CN¥15.15	CN¥16.30	4
Sep ’24	CN¥14.33	CN¥18.42 +28.5%	12.6%	CN¥21.24	CN¥15.15	CN¥13.95	4
Aug ’24	CN¥15.68	CN¥22.81 +45.5%	32.5%	CN¥33.00	CN¥15.63	CN¥14.04	3
Jul ’24	CN¥15.55	CN¥17.72 +13.9%	11.8%	CN¥19.80	CN¥15.63	CN¥15.89	2
Nov ’23	CN¥11.93	CN¥28.55 +139.3%	15.6%	CN¥33.00	CN¥24.10	CN¥14.13	2

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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