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Highland Gold Mining

DB:HGM
Snowflake Description

Solid track record with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HGM
DB
£595M
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Highland Gold Mining Limited engages in the acquisition, consolidation, and development of gold mining projects in Russia and Kyrgyzstan. The last earnings update was 167 days ago. More info.


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HGM Share Price and Events
7 Day Returns
-2.1%
DB:HGM
-4%
DE Metals and Mining
2.9%
DE Market
1 Year Returns
11.4%
DB:HGM
-40%
DE Metals and Mining
-12.1%
DE Market
HGM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Highland Gold Mining (HGM) -2.1% 4.5% 9.5% 11.4% 139.6% 117.6%
DE Metals and Mining -4% -11.6% -15.5% -40% -2% -24.9%
DE Market 2.9% 0.8% 0.2% -12.1% 11.8% 4.9%
1 Year Return vs Industry and Market
  • HGM outperformed the Metals and Mining industry which returned -40% over the past year.
  • HGM outperformed the Market in Germany which returned -12.1% over the past year.
Price Volatility
HGM
Industry
5yr Volatility vs Market

HGM Value

 Is Highland Gold Mining undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Highland Gold Mining to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Highland Gold Mining.

DB:HGM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.4%
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.

Calculation of Discount Rate/ Cost of Equity for DB:HGM
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))
= 1.116 (1 + (1- 20%) (26.02%))
1.349
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.35
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.349 * 9.77%)
13.41%

Discounted Cash Flow Calculation for DB:HGM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Highland Gold 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.

DB:HGM DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) -43.00 -30.50 86.00 85.94 85.89
Source Analyst x2 Analyst x2 Analyst x1 Est @ -0.07% Est @ -0.07%
Present Value
Discounted (@ 13.41%)
-37.92 -23.71 58.96 51.96 45.78
Present value of next 5 years cash flows $95.07
DB:HGM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $85.89 × (1 + 0.23%) ÷ (13.41% – 0.23%)
$653.14
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $653.14 ÷ (1 + 13.41%)5
$348.17
DB:HGM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $95.07 + $348.17
$443.24
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $443.24 / 363.84
$1.22
DB:HGM Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of AIM:HGM)
0.773
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $1.22 x 0.773
£0.94
Non-primary Listing Adjustment Factor 1 share in DB:HGM represents 1.1322x of AIM:HGM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.1322x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 0.94 x 1.1322
€1.07
Value per share (EUR) From above. €1.07
Current discount Discount to share price of €1.85
= -1 x (€1.85 - €1.07) / €1.07
-73.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Highland Gold Mining is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Highland Gold Mining's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Highland Gold Mining's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HGM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in USD $0.21
AIM:HGM Share Price ** AIM (2019-02-18) in GBP £1.63
AIM:HGM Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.293 $2.11
Germany Metals and Mining Industry PE Ratio Median Figure of 5 Publicly-Listed Metals and Mining Companies 14.68x
Germany Market PE Ratio Median Figure of 420 Publicly-Listed Companies 18.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Highland Gold Mining.

DB:HGM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:HGM Share Price ÷ EPS (both in USD)

= 2.11 ÷ 0.21

10.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Highland Gold Mining is good value based on earnings compared to the DE Metals and Mining industry average.
  • Highland Gold Mining is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Highland Gold Mining's expected growth come at a high price?
Raw Data
DB:HGM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
25%per year
Europe Metals and Mining Industry PEG Ratio Median Figure of 58 Publicly-Listed Metals and Mining Companies 0.57x
Germany Market PEG Ratio Median Figure of 277 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:HGM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.08x ÷ 25%

0.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Highland Gold Mining is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Highland Gold Mining's assets?
Raw Data
DB:HGM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in USD $2.40
AIM:HGM Share Price * AIM (2019-02-18) in GBP £1.63
AIM:HGM Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.293 $2.11
Germany Metals and Mining Industry PB Ratio Median Figure of 10 Publicly-Listed Metals and Mining Companies 2.36x
Germany Market PB Ratio Median Figure of 566 Publicly-Listed Companies 1.79x
DB:HGM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:HGM Share Price ÷ Book Value per Share (both in USD)

= 2.11 ÷ 2.40

0.88x

* Primary Listing of Highland Gold Mining.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Highland Gold Mining is good value based on assets compared to the DE Metals and Mining industry average.
X
Value checks
We assess Highland Gold Mining's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Highland Gold Mining has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HGM Future Performance

 How is Highland Gold Mining expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
25%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Highland Gold Mining expected to grow at an attractive rate?
  • Highland Gold Mining's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Highland Gold Mining's earnings growth is expected to exceed the Germany market average.
  • Highland Gold Mining's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HGM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HGM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 25%
DB:HGM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 18.5%
Germany Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 20.8%
Europe Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 0.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 9.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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.

Analysts growth expectations
Raw Data
DB:HGM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HGM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 698 194 1
2021-12-31 597 209 163 1
2020-12-31 417 143 82 3
2019-12-31 348 130 70 3
2018-12-31 319 131 73 3
DB:HGM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-06-30 316 133 68
2018-03-31 317 132 67
2017-12-31 317 131 65
2017-09-30 311 130 51
2017-06-30 306 124 36
2017-03-31 306 132 42
2016-12-31 306 139 47
2016-09-30 299 133 30
2016-06-30 293 127 12
2016-03-31 284 117 1
2015-12-31 276 106 -10
2015-09-30 284 101 -21

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Highland Gold Mining's earnings are expected to grow significantly at over 20% yearly.
  • Highland Gold Mining's revenue is expected to grow by 18.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:HGM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Highland Gold Mining Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HGM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.53 0.53 0.53 1.00
2021-12-31 0.45 0.45 0.45 1.00
2020-12-31 0.22 0.26 0.18 2.00
2019-12-31 0.19 0.23 0.15 2.00
2018-12-31 0.22 0.23 0.21 2.00
DB:HGM Past Financials Data
Date (Data in USD Millions) EPS *
2018-06-30 0.21
2018-03-31 0.21
2017-12-31 0.20
2017-09-30 0.16
2017-06-30 0.11
2017-03-31 0.13
2016-12-31 0.15
2016-09-30 0.09
2016-06-30 0.04
2016-03-31 0.00
2015-12-31 -0.03
2015-09-30 -0.06

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Highland Gold Mining is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Highland Gold Mining's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Highland Gold Mining has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HGM Past Performance

  How has Highland Gold Mining performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Highland Gold Mining's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Highland Gold Mining's year on year earnings growth rate has been positive over the past 5 years.
  • Highland Gold Mining's 1-year earnings growth exceeds its 5-year average (88.7% vs 3.3%)
  • Highland Gold Mining's earnings growth has exceeded the DE Metals and Mining industry average in the past year (88.7% vs 10%).
Earnings and Revenue History
Highland Gold Mining's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Highland Gold Mining Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HGM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 316.40 68.15 16.97
2018-03-31 316.54 66.71 16.51
2017-12-31 316.68 65.28 16.05
2017-09-30 311.33 50.69 15.15
2017-06-30 305.98 36.11 14.25
2017-03-31 305.94 41.67 14.27
2016-12-31 305.90 47.24 14.29
2016-09-30 299.22 29.79 13.91
2016-06-30 292.53 12.34 13.52
2016-03-31 284.35 1.01 13.33
2015-12-31 276.18 -10.32 13.13
2015-09-30 284.45 -20.63 13.52
2015-06-30 292.73 -30.94 13.92
2015-03-31 298.48 -27.94 14.69
2014-12-31 304.23 -24.94 15.46
2014-09-30 296.82 16.36 16.75
2014-06-30 289.41 57.66 18.04
2014-03-31 296.81 56.06 18.34
2013-12-31 304.21 54.46 18.65
2013-09-30 325.81 74.85 18.21
2013-06-30 347.41 95.23 17.77
2013-03-31 349.62 110.79 17.78
2012-12-31 351.83 126.35 17.80
2012-09-30 327.69 103.98 17.98
2012-06-30 303.55 81.61 18.16
2012-03-31 301.87 92.71 18.58

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Highland Gold Mining has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Highland Gold Mining used its assets more efficiently than the DE Metals and Mining industry average last year based on Return on Assets.
  • Highland Gold Mining has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Highland Gold Mining's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Highland Gold Mining has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HGM Health

 How is Highland Gold Mining's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Highland Gold Mining's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Highland Gold Mining is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Highland Gold Mining's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Highland Gold Mining's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Highland Gold Mining Company Filings, last reported 7 months ago.

DB:HGM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 782.00 199.98 10.91
2018-03-31 782.00 199.98 10.91
2017-12-31 777.52 210.71 12.39
2017-09-30 777.52 210.71 12.39
2017-06-30 758.91 207.81 4.27
2017-03-31 758.91 207.81 4.27
2016-12-31 755.64 214.21 8.75
2016-09-30 755.64 214.21 8.75
2016-06-30 764.67 217.67 19.77
2016-03-31 764.67 217.67 19.77
2015-12-31 739.58 255.65 24.21
2015-09-30 739.58 255.65 24.21
2015-06-30 774.47 272.21 39.78
2015-03-31 774.47 272.21 39.78
2014-12-31 770.10 303.10 55.90
2014-09-30 770.10 303.10 55.90
2014-06-30 828.37 304.05 64.80
2014-03-31 828.37 304.05 64.80
2013-12-31 821.75 309.32 58.14
2013-09-30 821.75 309.32 58.14
2013-06-30 797.02 224.45 46.84
2013-03-31 797.02 224.45 46.84
2012-12-31 795.20 8.75 61.35
2012-09-30 795.20 8.75 61.35
2012-06-30 738.89 0.00 150.79
2012-03-31 738.89 0.00 150.79
  • Highland Gold Mining's level of debt (25.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (28.3% vs 25.6% today).
  • Debt is well covered by operating cash flow (66.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 355.5x coverage).
X
Financial health checks
We assess Highland Gold Mining's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Highland Gold Mining has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HGM Dividends

 What is Highland Gold Mining's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.54%
Current annual income from Highland Gold Mining dividends. Estimated to be 5.5% next year.
If you bought €2,000 of Highland Gold Mining shares you are expected to receive €131 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Highland Gold Mining's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.53%).
  • Highland Gold Mining's dividend is above the markets top 25% of dividend payers in Germany (3.96%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:HGM Annualized Past and Future Dividends
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 3 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 4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:HGM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.15 1.00
2021-12-31 0.11 1.00
2020-12-31 0.11 2.00
2019-12-31 0.11 2.00
2018-12-31 0.14 2.00
DB:HGM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-12-13 0.138 7.128
2018-05-04 0.130 7.268
2018-04-17 0.141 7.056
2017-05-17 0.136 7.179
2016-09-28 0.121 6.446
2016-05-25 0.058 3.883
2015-09-23 0.055 6.576
2015-05-26 0.061 8.269
2014-09-23 0.073 13.162
2014-05-27 0.080 7.518
2013-04-24 0.123 12.272
2013-04-23 0.119 9.190
2013-04-22 0.127 10.084
2013-01-30 0.000 0.000
2012-09-19 0.115 7.046
2012-05-21 0.000 0.000
2012-04-25 0.000 0.000
2011-09-20 0.050 1.869

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Highland Gold Mining has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Highland Gold Mining only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Highland Gold Mining's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Highland Gold Mining's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Highland Gold Mining afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Highland Gold Mining has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HGM Management

 What is the CEO of Highland Gold Mining's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Denis Alexandrov
COMPENSATION $108,000
AGE 44
TENURE AS CEO 3.1 years
CEO Bio

Mr. Denis Alexandrov has been the Chief Executive Officer of Highland Gold Mining Ltd. since January 2016. Mr. Alexandrov served as the Chief Executive Officer at Auriant Mining AB from May 2012 to January 2016. He served as a Managing Director at A1 Group. He joined A1 Group in 2008. Since 2001, he was responsible for the corporate development, finance and control in Alfa Group and served as its Financial Director since 2008. He served as the Chief Financial Officer of Arlan Investment Company from 2007 to 2008. He served as Senior Executive Manager for Corporate Development, Finance and Control at Alfa Group until 2003. Mr. Alexandrov also worked at Crown Resources AG in London serving as a Director of Corporate Development, Finance and Supervision. He served as the Chief Financial Officer at Highland Gold Mining Ltd., from February 2004 to May 1, 2006 and also served as its Internal Audit Manager and supervised secondary public offering at the AIM and a number of mergers and acquisitions transactions. Mr. Alexandrov began his career at the Audit Department at PricewaterhouseCoopers and spent five years with its Natural Resources Group from 1996 to 2001. He served as a Commercial Director of Timan Oil and Gas PLC until February 1, 2007, where he supervised its listing on the London Stock Exchange (AIM). Mr. Alexandrov serves as a Director of Arlan Investment Company. He served as Director of Auriant Mining AB (publ) since 2012 and Timan Oil and Gas PLC from June 26, 2006 to February 01, 2007. He served as a Director of Highland Gold Mining Ltd. He served as Director of Stellar Diamonds Plc since April 01, 2008 and Silver Bear Resources Plc from February 22, 2011 to September 28, 2011. He also served as a Board member of Systematika Group, Silver Bear Resources Plc and Remet. Mr. Alexandrov is a Fellow Charted Certified Accountant. He qualified as an Accountant and is an Honored Member of the Association of Chartered Certified Accountants (ACCA) in the United Kingdom since 2005. Mr. Aleksandtrov is a graduate of Russia’s Far Eastern State University majoring in International Economic Relations and Management in 1996. He received a B.Sc. in Management from the University of Maryland in United States in 1995. Mr. Alexandrov has an MBA from Moscow School of Management Skolkovo.

CEO Compensation
  • Insufficient data for Denis to compare compensation growth.
  • Insufficient data for Denis to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Highland Gold Mining management team in years:

2.9
Average Tenure
47
Average Age
  • The tenure for the Highland Gold Mining management team is about average.
Management Team

Eugene Shvidler

TITLE
Executive Chairman
COMPENSATION
$558K
AGE
54

John Mann

TITLE
Head of Communications and Executive Director
COMPENSATION
$120K
AGE
46
TENURE
5.1 yrs

Denis Alexandrov

TITLE
Chief Executive Officer
COMPENSATION
$108K
AGE
44
TENURE
3.1 yrs

Alla Baranovskaya

TITLE
Chief Financial Officer
AGE
48
TENURE
7.7 yrs

Anton Kim

TITLE
Chief Operating Officer
TENURE
1.3 yrs

Elena Babkina

TITLE
Director of Human Resources & Administration
TENURE
2.8 yrs

Grant Sinitsin

TITLE
Director of Investor Relations

Aleksey Kharitontsev

TITLE
Deputy Chief Executive Officer of Corporate Development
TENURE
2.8 yrs

Alexander Mikhaluk

TITLE
Chief Geologist

Igor Gaponenko

TITLE
Head of International Affairs
Board of Directors Tenure

Average tenure and age of the Highland Gold Mining board of directors in years:

6.7
Average Tenure
54
Average Age
  • The tenure for the Highland Gold Mining board of directors is about average.
Board of Directors

Eugene Shvidler

TITLE
Executive Chairman
COMPENSATION
$558K
AGE
54
TENURE
6.8 yrs

John Mann

TITLE
Head of Communications and Executive Director
COMPENSATION
$120K
AGE
46
TENURE
3.8 yrs

Duncan Antony Baxter

TITLE
Independent Non-Executive Director
COMPENSATION
$160K
AGE
66
TENURE
10.6 yrs

Olga Pokrovskaya

TITLE
Non-Executive Director
COMPENSATION
$125K
AGE
49
TENURE
11.1 yrs

Terry Robinson

TITLE
Senior Independent Director
COMPENSATION
$160K
AGE
74

Valery Oyf

TITLE
Non-Executive Director
COMPENSATION
$100K
AGE
54
TENURE
6.6 yrs

Colin J. Belshaw

TITLE
Independent Non-Executive Director
COMPENSATION
$120K
AGE
63
TENURE
5.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Highland Gold Mining insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
15. Feb 19 Buy Eugene Shvidler Individual 12. Feb 19 12. Feb 19 3,861,169 €1.87 €7,218,360
15. Feb 19 Buy Valery Oyf Individual 12. Feb 19 12. Feb 19 1,932,033 €1.87 €3,611,888
X
Management checks
We assess Highland Gold Mining's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Highland Gold Mining has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HGM News

Simply Wall St News

HGM Company Info

Map
Description

Highland Gold Mining Limited engages in the acquisition, consolidation, and development of gold mining projects in Russia and Kyrgyzstan. The company explores for gold, silver, zinc, and lead. Its Gold Production segment holds 100% interests in the Mnogovershinnoye mine, which is located in the Nikolaevsk area of the Khabarovsk Territory in the far-east of Russia; and the Belaya Gora, which is located in the Khabarovsk region, Russia. The company’s Polymetallic Concentrate Production segment holds 99% interest in the Novoshirokinskoye deposit that is located in the Zabaikalsky region, Russia. Its Development and Exploration segment holds 100% interests in the Kekura deposit, which is situated in the Chukotka region; the Klen deposit that is located in the southwest of Bilibino, north-eastern Russia; the Taseevskoye deposit, which is located in the Zabaikalsky region, Russia; and the Unkurtash project that is located in Kassan, Kyrgyzstan. This segment also holds interests in the Lubov project, which is located in the Zabaikalsky region, Russia. The company also offers project engineering services. Highland Gold Mining Limited was incorporated in 2002 and is headquartered in Saint Helier, Jersey.

Details
Name: Highland Gold Mining Limited
HGM
Exchange: DB
Founded: 2002
£679,649,292
363,843,441
Website: http://www.highlandgold.com
Address: Highland Gold Mining Limited
26 New Street,
Saint Helier,
JE2 3RA,
Jersey
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM HGM Ordinary Shares London Stock Exchange AIM Market GB GBP 17. Dec 2002
OTCPK HGHG.F Ordinary Shares Pink Sheets LLC US USD 17. Dec 2002
DB HGM Ordinary Shares Deutsche Boerse AG DE EUR 17. Dec 2002
Number of employees
Current staff
Staff numbers
0
Highland Gold Mining employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 21:03
End of day share price update: 2019/02/18 00:00
Last estimates confirmation: 2019/01/25
Last earnings filing: 2018/09/04
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.