Loading...
Acacia Mining plc, together with its subsidiaries, mines, processes, and sells gold in Africa. The last earnings update was 11 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Acacia Mining (33A) | 28% | 44.8% | 35% | 80.3% | -8.5% | -16.2% |
DE Metals and Mining | 0.2% | -9% | -15.1% | -39.2% | 0.9% | -23.5% |
DE Market | 2.2% | 2.7% | 1.6% | -11% | 13.6% | 6.8% |
Is Acacia Mining undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for Acacia Mining.
Data Point | Source | Value |
---|---|---|
Valuation Model | 2 Stage Free Cash Flow to Equity | |
Levered Free Cash Flow | Average of 12 Analyst Estimates (S&P Global) | See below |
Discount Rate (Cost of Equity) | See below | 11.4% |
Perpetual Growth Rate | 10-Year DE Government Bond Rate | 0.2% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
Data Point | Calculation/ Source | Result |
---|---|---|
Risk-Free Rate | 10-Year DE Govt Bond Rate | 0.2% |
Equity Risk Premium | S&P Global | 9.8% |
Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.12 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.119 (1 + (1- 19%) (3.21%)) |
1.148 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.15 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.148 * 9.77%) |
11.44% |
Discounted Cash Flow Calculation for DB:33A using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Acacia Mining is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
2019 | 2020 | 2021 | 2022 | 2023 | |
Levered FCF (USD, Millions) | 116.32 | 79.40 | 62.10 | 59.06 | 56.17 |
Source | Analyst x6 | Analyst x7 | Analyst x2 | Est @ -4.89% | Est @ -4.89% |
Present Value Discounted (@ 11.44%) |
104.37 | 63.93 | 44.87 | 38.29 | 32.68 |
Present value of next 5 years cash flows | $284.15 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $56.17 × (1 + 0.23%) ÷ (11.44% – 0.23%) |
$502.04 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $502.04 ÷ (1 + 11.44%)5 |
$292.07 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $284.15 + $292.07 |
$576.22 |
Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $576.22 / 410.09 |
$1.41 |
Calculation | Result | |
---|---|---|
Exchange Rate | USD/GBP
(Reporting currency to currency of LSE:ACA) |
0.766 |
Value per Share (GBP) |
= Value per Share in USD x Exchange Rate (USD/GBP)
= $1.41 x 0.766 |
£1.08 |
Non-primary Listing Adjustment Factor |
1 share in DB:33A
represents 1.14692x
of
LSE:ACA
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
1.14692x |
Value per Share (Listing Adjusted, EUR) |
= Value per Share (GBP) x Listing Adjustment Factor
= £ 1.08 x 1.14692 |
€1.23 |
Value per share (EUR) | From above. | €1.23 |
Current discount | Discount to share price of
€2.87
= -1 x (€2.87 - €1.23) / €1.23 |
-132.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.14 |
LSE:ACA Share Price ** | LSE (2019-02-22) in GBP | £2.5 |
LSE:ACA Share Price converted to USD reporting currency | Exchange rate (GBP/ USD) 1.306 | $3.26 |
Germany Metals and Mining Industry PE Ratio | Median Figure of 5 Publicly-Listed Metals and Mining Companies | 14.76x |
Germany Market PE Ratio | Median Figure of 420 Publicly-Listed Companies | 18.09x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Acacia Mining.
Calculation | Outcome | |
---|---|---|
PE Ratio | = LSE:ACA Share Price ÷ EPS (both in USD) = 3.26 ÷ 0.14 |
22.72x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | 22.72x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts |
16.8%per year |
Europe Metals and Mining Industry PEG Ratio | Median Figure of 57 Publicly-Listed Metals and Mining Companies | 0.8x |
Germany Market PEG Ratio | Median Figure of 277 Publicly-Listed Companies | 1.38x |
*Line of best fit is calculated by linear regression .
Calculation | Outcome | |
---|---|---|
PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 22.72x ÷ 16.8% |
1.35x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2018-12-31) in USD | $2.85 |
LSE:ACA Share Price * | LSE (2019-02-22) in GBP | £2.5 |
LSE:ACA Share Price converted to USD reporting currency | Exchange rate (GBP/ USD) 1.306 | $3.26 |
Germany Metals and Mining Industry PB Ratio | Median Figure of 9 Publicly-Listed Metals and Mining Companies | 2.62x |
Germany Market PB Ratio | Median Figure of 565 Publicly-Listed Companies | 1.8x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = LSE:ACA Share Price ÷ Book Value per Share (both in USD) = 3.26 ÷ 2.85 |
1.14x |
* Primary Listing of Acacia Mining.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value (per year) |
---|---|---|
DB:33A Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts | 16.8% |
DB:33A Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts | 3.9% |
Germany Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 33.2% |
Europe Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 0.6% |
Germany Market Earnings Growth Rate | Market Cap Weighted Average | 9.9% |
Germany Market Revenue Growth Rate | Market Cap Weighted Average | 5.2% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (1 month ago) | See Below |
Future Estimates | Average of up to 12 Analyst Estimates (S&P Global) | See Below |
Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|---|---|---|---|
2021-12-31 | 734 | 274 | 100 | 6 |
2020-12-31 | 745 | 288 | 100 | 12 |
2019-12-31 | 703 | 223 | 82 | 9 |
Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-12-31 | 664 | 126 | 59 |
2018-09-30 | 688 | -743 | |
2018-06-30 | 693 | 35 | -739 |
2018-03-31 | 674 | -684 | |
2017-12-31 | 752 | -23 | -707 |
2017-09-30 | 826 | 127 | |
2017-06-30 | 940 | 162 | 164 |
2017-03-31 | 1,067 | 174 | |
2016-12-31 | 1,054 | 318 | 95 |
2016-09-30 | 1,018 | -152 | |
2016-06-30 | 926 | 206 | -218 |
2016-03-31 | 874 | -259 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (1 month ago) | See Below |
Future Estimates | Average of up to 12 Analyst Estimates (S&P Global) | See Below |
All data from Acacia Mining Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|---|---|---|---|
2021-12-31 | 0.26 | 0.39 | 0.15 | 5.00 |
2020-12-31 | 0.25 | 0.34 | 0.13 | 10.00 |
2019-12-31 | 0.23 | 0.25 | 0.20 | 7.00 |
Date (Data in USD Millions) | EPS * |
---|---|
2018-12-31 | 0.14 |
2018-09-30 | -1.81 |
2018-06-30 | -1.80 |
2018-03-31 | -1.67 |
2017-12-31 | -1.72 |
2017-09-30 | 0.31 |
2017-06-30 | 0.40 |
2017-03-31 | 0.42 |
2016-12-31 | 0.23 |
2016-09-30 | -0.38 |
2016-06-30 | -0.53 |
2016-03-31 | -0.63 |
*GAAP earnings excluding extraordinary items.
How has Acacia Mining performed over the past 5 years?
All data from Acacia Mining Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2018-12-31 | 663.79 | 58.87 | 45.89 | |
2018-09-30 | 688.27 | -743.25 | 45.74 | |
2018-06-30 | 693.23 | -739.06 | 47.31 | |
2018-03-31 | 674.13 | -684.23 | 34.78 | |
2017-12-31 | 751.52 | -707.39 | 51.72 | |
2017-09-30 | 826.16 | 126.87 | 45.00 | |
2017-06-30 | 940.25 | 163.62 | 65.96 | |
2017-03-31 | 1,066.52 | 174.18 | 94.49 | |
2016-12-31 | 1,053.53 | 94.94 | 86.51 | |
2016-09-30 | 1,018.31 | -152.20 | 95.04 | |
2016-06-30 | 926.30 | -218.04 | 77.16 | |
2016-03-31 | 874.15 | -258.77 | 72.99 | |
2015-12-31 | 868.13 | -197.15 | 72.61 | |
2015-09-30 | 883.32 | 23.01 | 77.69 | |
2015-06-30 | 931.52 | 64.51 | 76.57 | |
2015-03-31 | 928.86 | 77.29 | 70.68 | |
2014-12-31 | 930.25 | 89.21 | 70.14 | |
2014-09-30 | 907.99 | -23.75 | 68.25 | |
2014-06-30 | 887.15 | -28.63 | 67.85 | |
2014-03-31 | 899.83 | -750.89 | 66.75 | |
2013-12-31 | 929.00 | -740.78 | 61.32 | |
2013-09-30 | 919.75 | -646.18 | 64.55 | |
2013-06-30 | 964.63 | -645.91 | 72.99 | |
2013-03-31 | 989.66 | 91.35 | 74.35 | |
2012-12-31 | 1,011.74 | 100.47 | 87.44 | |
2012-09-30 | 1,084.59 | 150.21 | 89.90 | |
2012-06-30 | 1,174.00 | 228.47 | 91.01 | |
2012-03-31 | 1,218.83 | 264.88 | 90.63 |
*GAAP earnings excluding extraordinary items.
How is Acacia Mining's financial health and their level of debt?
All data from Acacia Mining Company Filings, last reported 1 month ago.
Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-12-31 | 1,179.61 | 42.89 | 130.60 |
2018-09-30 | 1,151.94 | 57.18 | 120.60 |
2018-06-30 | 1,151.94 | 57.18 | 120.60 |
2018-03-31 | 1,120.99 | 71.48 | 81.04 |
2017-12-31 | 1,120.99 | 71.48 | 81.04 |
2017-09-30 | |||
2017-06-30 | 1,891.11 | 85.72 | 176.41 |
2017-03-31 | 1,862.90 | 99.47 | 317.82 |
2016-12-31 | 1,862.90 | 99.47 | 317.82 |
2016-09-30 | |||
2016-06-30 | 1,768.70 | 114.35 | 284.36 |
2016-03-31 | 1,787.50 | 128.29 | 233.27 |
2015-12-31 | 1,787.50 | 128.29 | 233.27 |
2015-09-30 | |||
2015-06-30 | 2,005.04 | 148.09 | 286.93 |
2015-03-31 | 2,002.15 | 148.90 | 293.85 |
2014-12-31 | 2,002.15 | 148.90 | 293.85 |
2014-09-30 | |||
2014-06-30 | 1,958.80 | 153.24 | 269.60 |
2014-03-31 | 1,927.36 | 154.53 | 282.41 |
2013-12-31 | 1,927.36 | 154.53 | 282.41 |
2013-09-30 | |||
2013-06-30 | 2,015.11 | 80.90 | 320.87 |
2013-03-31 | 2,778.29 | 14.13 | 401.35 |
2012-12-31 | 2,778.29 | 14.13 | 401.35 |
2012-09-30 | |||
2012-06-30 | 2,807.76 | 17.56 | 503.67 |
2012-03-31 | 2,798.70 | 18.22 | 584.15 |
What is Acacia Mining's current dividend yield, its reliability and sustainability?
Data Point | Source | Value |
---|---|---|
Past Annualized Dividend Yield | S&P Global Market Data | See Below |
Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
Future Dividends per Share Estimates | Average of up to 12 Analyst Estimates (S&P Global) | See Below |
Germany Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 5 Stocks | 2% |
Germany Market Average Dividend Yield | Market Cap Weighted Average of 332 Stocks | 3% |
Germany Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
Germany Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
Germany Top 25% Dividend Yield | 75th Percentile | 3.9% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
---|---|---|
2021-12-31 | 0.06 | 4.00 |
2020-12-31 | 0.03 | 10.00 |
2019-12-31 | 0.02 | 11.00 |
Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
---|---|---|
2019-02-11 | 0.000 | 0.000 |
2018-10-19 | 0.000 | 0.000 |
2018-07-20 | 0.000 | 0.000 |
2018-04-19 | 0.000 | 0.000 |
2018-03-19 | 0.000 | 0.000 |
2018-02-12 | 0.000 | 0.000 |
2017-10-20 | 0.000 | 0.000 |
2017-07-21 | 0.000 | 0.000 |
2017-04-20 | 0.104 | 2.518 |
2016-02-15 | 0.042 | 0.798 |
2015-02-16 | 0.042 | 1.201 |
2014-04-28 | 0.030 | 0.788 |
2013-02-13 | 0.163 | 5.982 |
2012-07-23 | 0.171 | 2.600 |
2012-03-20 | 0.163 | 2.774 |
2012-02-16 | 0.163 | 2.345 |
2011-07-26 | 0.069 | 0.847 |
2011-03-22 | 0.053 | 0.695 |
2010-10-22 | 0.032 | 0.364 |
2010-07-27 | 0.032 | 0.352 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Peter Geleta has been Interim CEO and Director of Acacia Mining plc since January 1, 2018. Mr. Geleta has 35 years of mining industry experience in both operational and corporate leadership positions, primarily in Africa. He held senior roles at AngloGold Ashanti (25 years) and Barrick Gold Corporation (“Barrick”). He joined Acacia Mining plc (“Acacia”) in May 2012 as Vice President, Organisational Effectiveness. Since then, he has been a key Member of the Executive Team of Acacia. During his time with Acacia, he has also served as General Manager of the Bulyanhulu mine and helped lead the successful restructuring of the business. He holds an Executive MBA qualification from the University of Cape Town.
Average tenure and age of the Acacia Mining management team in years:
Average tenure and age of the Acacia Mining board of directors in years:
Acacia Mining plc, together with its subsidiaries, mines, processes, and sells gold in Africa. The company has three gold mines in north-west Tanzania, including Bulyanhulu, Buzwagi, and North Mara; and a portfolio of exploration projects at various stages of development in Tanzania, Kenya, Burkina Faso, and Mali. It also produces co-products, such as copper and silver. The company was formerly known as African Barrick Gold plc and changed its name to Acacia Mining plc in November 2014. The company was incorporated in 2010 and is headquartered in London, the United Kingdom. Acacia Mining plc is a subsidiary of Barrick Gold Corporation.
Name: | Acacia Mining plc |
33A | |
Exchange: | DB |
Founded: | 2010 |
£1,179,574,731 | |
410,085,499 | |
Website: | http://www.acaciamining.com |
Address: |
Acacia Mining plc No. 1 Cavendish Place, 5th Floor, London, Greater London, W1G 0QF, United Kingdom |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
LSE | ACA | Ordinary Shares | London Stock Exchange | GB | GBP | 19. Mar 2010 | |
OTCPK | ABGL.F | Ordinary Shares | Pink Sheets LLC | US | USD | 19. Mar 2010 | |
DB | 33A | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 19. Mar 2010 |
Gold | |
Materials |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/02/22 21:48 |
End of day share price update: | 2019/02/22 00:00 |
Last estimates confirmation: | 2019/02/21 |
Last earnings filing: | 2019/02/11 |
Last earnings reported: | 2018/12/31 |
Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.