First Mining Gold Corp.

DB:FMG Stock Report

Market Cap: €94.7m

First Mining Gold Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate FMG's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate FMG's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As FMG is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for FMG. This is calculated by dividing FMG's market cap by their current book value.
What is FMG's PB Ratio?
PB Ratio0.6x
BookCA$217.99m
Market CapCA$140.38m

Price to Book Ratio vs Peers

How does FMG's PB Ratio compare to its peers?

The above table shows the PB ratio for FMG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average12x
02P Pearl Gold
0.8xn/a€10.8m
M0LY Greenland Resources
44.3xn/a€65.8m
EIS Eisen- und Hüttenwerke
2.1xn/a€202.4m
NTG Nabaltec
0.8x4.3%€126.7m
FMG First Mining Gold
0.6x70.6%€140.4m

Price-To-Book vs Peers: FMG is good value based on its Price-To-Book Ratio (0.6x) compared to the peer average (12x).

Price to Book Ratio vs Industry

How does FMG's PB Ratio compare vs other companies in the European Metals and Mining Industry?

22 CompaniesPrice / BookEstimated GrowthMarket Cap
FMG 0.6xIndustry Avg. 0.9xNo. of Companies28PB00.61.21.82.43+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: FMG is good value based on its Price-To-Book Ratio (0.6x) compared to the European Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is FMG's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FMG PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FMG's Price-To-Book 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 FMG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.085
€0.39
+355.3%
32.5%€0.55€0.24n/a3
Nov ’25€0.097
€0.48
+395.0%
16.4%€0.54€0.37n/a3
Oct ’25€0.081
€0.48
+488.7%
16.4%€0.53€0.37n/a3
Sep ’25n/a
€0.48
0%
16.4%€0.53€0.37n/a3
Aug ’25€0.083
€0.48
+479.6%
16.4%€0.53€0.37n/a3
Jul ’25€0.077
€0.47
+513.6%
20.2%€0.54€0.34n/a3
Jun ’25€0.09
€0.47
+423.8%
20.2%€0.54€0.34n/a3
May ’25€0.12
€0.51
+345.2%
24.0%€0.68€0.34n/a4
Apr ’25€0.074
€0.43
+484.9%
14.9%€0.48€0.34n/a3
Mar ’25€0.06
€0.44
+637.4%
13.3%€0.48€0.34n/a4
Feb ’25€0.075
€0.44
+493.5%
13.3%€0.48€0.34n/a4
Jan ’25€0.09
€0.50
+459.8%
5.6%€0.55€0.48n/a4
Dec ’24€0.086
€0.50
+485.8%
5.6%€0.55€0.48n/a4
Nov ’24€0.088
€0.50
+471.2%
5.6%€0.55€0.48€0.0974
Oct ’24n/a
€0.50
0%
5.6%€0.55€0.48€0.0814
Sep ’24€0.076
€0.50
+558.9%
5.6%€0.54€0.48n/a4
Aug ’24€0.10
€0.51
+406.8%
5.6%€0.55€0.48€0.0834
Jul ’24n/a
€0.51
0%
5.6%€0.55€0.48€0.0774
Jun ’24n/a
€0.48
0%
3.0%€0.51€0.48€0.094
May ’24€0.10
€0.48
+361.8%
3.0%€0.51€0.48€0.124
Apr ’24€0.12
€0.47
+305.3%
3.1%€0.47€0.44€0.0744
Mar ’24€0.11
€0.50
+339.7%
10.3%€0.59€0.45€0.064
Feb ’24€0.15
€0.50
+234.2%
10.3%€0.59€0.45€0.0754
Jan ’24€0.12
€0.50
+305.8%
10.3%€0.59€0.45€0.094
Dec ’23€0.14
€0.59
+330.9%
15.2%€0.71€0.46€0.0864
Nov ’23n/a
€0.59
0%
11.7%€0.66€0.48€0.0884

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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