Boliden (BWJ) Stock Overview

Engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally. More details

BWJ fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	2/6
Past Performance	5/6
Financial Health	5/6
Dividends	4/6

Rewards

Trading at 45.9% below our estimate of its fair value

Earnings are forecast to grow 9.33% per year

Earnings grew by 57.7% over the past year

Trading at good value compared to peers and industry

Risk Analysis

Unstable dividend track record

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Boliden AB (publ) Competitors

Price History & Performance

Summary of share price highs, lows and changes for Boliden
Historical stock prices
Current Share Price	SEK 48.63
52 Week High	SEK 67.96
52 Week Low	SEK 30.20
Beta	1.14
1 Month Change	-0.21%
3 Month Change	-0.82%
1 Year Change	61.03%
3 Year Change	90.71%
5 Year Change	66.54%
Change since IPO	230.82%

Recent updates

Shareholder Returns

	BWJ	DE Metals and Mining	DE Market
7D	-1.6%	-0.9%	-1.8%
1Y	61.0%	64.6%	4.2%

Return vs Industry: BWJ underperformed the German Metals and Mining industry which returned 64.1% over the past year.

Return vs Market: BWJ exceeded the German Market which returned 3.6% over the past year.

Price Volatility

Is BWJ's price volatile compared to industry and market?
BWJ volatility
BWJ Average Weekly Movement	6.3%
Metals and Mining Industry Average Movement	8.1%
Market Average Movement	5.0%
10% most volatile stocks in DE Market	12.6%
10% least volatile stocks in DE Market	2.5%

Stable Share Price: BWJ has not had significant price volatility in the past 3 months compared to the German market.

Volatility Over Time: BWJ's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1924	8,000	Mikael Staffas	www.boliden.com

Boliden AB (publ) engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally. The company operates through Business Area Mines and Business Area Smelters segments. It explores copper, zinc, nickel, lead, gold, silver, cobalt, sulphuric acid, tellurium, platinum, palladium, rhodium, iridium, ruthenium, and osmium deposits.

Boliden AB (publ) Fundamentals Summary

How do Boliden's earnings and revenue compare to its market cap?
BWJ fundamental statistics
Market cap	€13.88b
Earnings (TTM)	€1.13b
Revenue (TTM)	€9.21b

12.3x

P/E Ratio

1.5x

P/S Ratio

Is BWJ overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
BWJ income statement (TTM)
Revenue	SEK 103.66b
Cost of Revenue	SEK 83.94b
Gross Profit	SEK 19.72b
Other Expenses	SEK 7.05b
Earnings	SEK 12.68b

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

Oct 30, 2026

Earnings per share (EPS)	44.64
Gross Margin	19.03%
Net Profit Margin	12.23%
Debt/Equity Ratio	27.9%

How did BWJ perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

25%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/11 06:01
End of Day Share Price	2026/09/11 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Boliden AB (publ) is covered by 28 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Amos Fletcher	Barclays
Richard Hatch	Berenberg

Boliden (BWJ) Stock Overview

Rewards

Risk Analysis

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Boliden AB (publ) Competitors

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thyssenkrupp

Symrise

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Price History & Performance

Recent News & Updates

Boliden AB (publ) (OM:BOL) entered into a definitive agreement to acquire 64.68% stake in Nexa Resources S.A. (NYSE:NEXA) from Votorantim S.A. for approximately $1.3 billion.

Boliden Maintains Mining Concession for Laver as Swedish Government Rejects Appeals

Second quarter 2026 earnings released: EPS: kr7.80 (vs kr2.02 in 2Q 2025)

Boliden AB (Publ) Updates Production Guidance for the Full Year 2026

Boliden AB (Publ) Approves the New Election of Guillaume De Goÿs and Maria Moræus Hanssen as Board Members

Boliden Updates Regarding Stopped Production At the Garpenberg Mine

Recent updates

Boliden AB (publ) (OM:BOL) entered into a definitive agreement to acquire 64.68% stake in Nexa Resources S.A. (NYSE:NEXA) from Votorantim S.A. for approximately $1.3 billion.

Boliden Maintains Mining Concession for Laver as Swedish Government Rejects Appeals

Second quarter 2026 earnings released: EPS: kr7.80 (vs kr2.02 in 2Q 2025)

Boliden AB (Publ) Updates Production Guidance for the Full Year 2026

Boliden AB (Publ) Approves the New Election of Guillaume De Goÿs and Maria Moræus Hanssen as Board Members

Boliden Updates Regarding Stopped Production At the Garpenberg Mine

Boliden AB (Publ) Proposes an Ordinary Dividend

Boliden Applies for Nautanen to Become A Strategic Project in EU

Boliden AB Announces Resignation of Per Lindberg from Board of Directors

Boliden AB (publ) to Report First Half, 2026 Results on Jul 21, 2026

Boliden AB (publ), Annual General Meeting, Jan 28, 2026

Boliden Appoints Linn Andersson as EVP Strategy and CTO

Boliden AB (publ) Approves the New Election of Victoire De Margerie as Member of the Board

Boliden AB (publ) to Report Q1, 2026 Results on Apr 28, 2026

Boliden AB (publ) (OM:BOL) completed the acquisition of Sociedade Mineira de Neves-Corvo, S.A. and Zinkgruvan Mining AB from Lundin Mining Corporation (TSX:LUN) for $1.6 billion.

Boliden Receives All Regulatory Approvals for the Acquisition of Somincor (Neves-Corvo) and Zinkgruvan

Boliden AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 3.75 billion.

Boliden AB (Publ) Provides Production Guidance for First Quarter and Full Year 2025

Boliden Updates the Estimations for Mineral Resources and Mineral Reserves At Kevitsa

Boliden AB (publ) (OM:BOL) agreed to acquire Sociedade Mineira de Neves-Corvo, S.A. and Zinkgruvan Mining AB from Lundin Mining Corporation (TSX:LUN) for $1.52 billion.

Boliden AB (publ) to Report Q3, 2025 Results on Oct 22, 2025

Third quarter 2024 earnings released: EPS: kr8.34 (vs kr4.96 in 3Q 2023)

Boliden AB (publ) to Report Q2, 2025 Results on Jul 18, 2025

Second quarter 2024 earnings released: EPS: kr13.20 (vs kr1.90 in 2Q 2023)

High number of new directors

Boliden AB (publ) to Report Q1, 2025 Results on Apr 23, 2025

Full year 2023 earnings released: EPS: kr22.20 (vs kr45.37 in FY 2022)

Dividend of kr7.50 announced

High number of new and inexperienced directors

Boliden AB (Publ) Proposes an Ordinary Dividend

Boliden AB (publ) to Report Q4, 2024 Results on Feb 06, 2025

Boliden AB (publ) to Report Q3, 2024 Results on Oct 22, 2024

Boliden Announces Lower Throughput Due to Production Disruptions in Aitik

Boliden AB (publ) to Report Fiscal Year 2023 Final Results on Mar 06, 2024

Third quarter 2023 earnings released: EPS: kr4.96 (vs kr9.90 in 3Q 2022)

High number of new and inexperienced directors

Junta de Andalucia and Boliden Announces Decision in the Financial Dispensary

Boliden Announces Production Partially Resumes At Rönnskär

Boliden AB (Publ) Provides Earnings Guidance for the Second Quarter of 2023

Independent Director recently bought €44k worth of stock

First quarter 2023 earnings released: EPS: kr9.29 (vs kr14.51 in 1Q 2022)

Now 26% undervalued after recent price drop

Upcoming dividend of kr15.00 per share at 6.5% yield

Now 22% undervalued after recent price drop

President & CEO recently bought €84k worth of stock

Full year 2022 earnings released: EPS: kr45.37 (vs kr31.81 in FY 2021)

Boliden AB (Publ) Proposes Special Dividend

Boliden AB (publ) to Report Fiscal Year 2022 Results on Mar 08, 2023

Boliden AB (publ) to Report Q4, 2023 Results on Feb 14, 2024

Now 20% undervalued

High number of new and inexperienced directors

Third quarter 2022 earnings released: EPS: kr9.90 (vs kr6.57 in 3Q 2021)

Boliden AB (publ) to Report Q2, 2023 Results on Jul 20, 2023

Second quarter 2022 earnings released: EPS: kr11.54 (vs kr8.00 in 2Q 2021)

High number of new directors

First quarter 2022 earnings released: EPS: kr14.51 (vs kr7.96 in 1Q 2021)

Upcoming dividend of kr10.50 per share

Third quarter 2021 earnings released

Second quarter 2021 earnings released: EPS kr8.00 (vs kr4.92 in 2Q 2020)

Boliden Approves Dividend, Payable on May 4, 2021

Boliden AB (publ) Announces Production Capacity in Aitik and Tara Restored

Full year 2020 earnings released: EPS kr24.86 (vs kr21.16 in FY 2019)