Ecora Resources PLC

DB:HGR Stock Report

Market Cap: €195.6m

Ecora Resources Valuation

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

Below Fair Value: HGR (€0.78) is trading below our estimate of fair value (€4.74)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HGR. This is calculated by dividing HGR's market cap by their current earnings.
What is HGR's PE Ratio?
PE Ratio10.4x
EarningsUS$19.81m
Market CapUS$206.68m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HGR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.3x
EIS Eisen- und Hüttenwerke
18.5xn/a€202.4m
UZU Uzin Utz
10.5x2.1%€251.2m
2HRA H&R GmbH KGaA
23.2x52.9%€128.4m
NTG Nabaltec
9x4.3%€126.7m
HGR Ecora Resources
10.4x14.9%€163.0m

Price-To-Earnings vs Peers: HGR is good value based on its Price-To-Earnings Ratio (10.4x) compared to the peer average (15.3x).

Price to Earnings Ratio vs Industry

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

14 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HGR 10.4xIndustry Avg. 11.1xNo. of Companies14PE0816243240+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HGR is good value based on its Price-To-Earnings Ratio (10.4x) compared to the European Metals and Mining industry average (11x).

Price to Earnings Ratio vs Fair Ratio

What is HGR'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.

HGR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.4x
Fair PE Ratio12.7x

Price-To-Earnings vs Fair Ratio: HGR is good value based on its Price-To-Earnings Ratio (10.4x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).

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 HGR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.78
€1.54
+97.1%
13.5%€1.79€1.20n/a5
Nov ’25€0.72
€1.58
+118.5%
11.1%€1.79€1.31n/a5
Oct ’25€0.83
€1.61
+93.7%
9.0%€1.80€1.44n/a5
Sep ’25€0.71
€1.66
+132.7%
8.1%€1.76€1.41n/a5
Aug ’25€0.78
€1.66
+113.7%
6.4%€1.77€1.48n/a5
Jul ’25€0.84
€1.74
+106.6%
6.2%€1.88€1.65n/a5
Jun ’25€0.96
€1.80
+87.0%
5.7%€1.94€1.65n/a5
May ’25€0.99
€1.76
+76.9%
6.8%€1.92€1.63n/a5
Apr ’25€0.89
€1.84
+107.9%
6.5%€2.04€1.75n/a5
Mar ’25€0.87
€1.89
+117.9%
11.7%€2.22€1.52n/a6
Feb ’25€1.06
€1.95
+83.7%
13.3%€2.23€1.52n/a6
Jan ’25€1.15
€2.00
+73.9%
8.6%€2.17€1.71n/a6
Dec ’24€1.03
€2.00
+93.8%
8.6%€2.17€1.71n/a6
Nov ’24€0.98
€1.97
+100.4%
7.8%€2.18€1.72€0.726
Oct ’24€1.22
€2.11
+73.6%
3.8%€2.21€1.98€0.836
Sep ’24€1.28
€2.20
+71.5%
8.9%€2.57€1.98€0.716
Aug ’24€1.33
€2.22
+66.7%
9.4%€2.57€1.98€0.785
Jul ’24€1.32
€2.32
+75.7%
8.0%€2.61€2.04€0.845
Jun ’24€1.28
€2.32
+81.5%
8.0%€2.61€2.04€0.965
May ’24€1.32
€2.39
+81.0%
8.8%€2.61€2.04€0.995
Apr ’24€1.32
€2.49
+89.0%
7.4%€2.73€2.16€0.895
Mar ’24€1.53
€2.69
+75.6%
7.0%€2.90€2.46€0.875
Feb ’24€1.68
€2.74
+63.6%
6.6%€2.95€2.49€1.065
Jan ’24€1.64
€3.16
+93.5%
15.8%€3.83€2.67€1.155
Dec ’23€1.66
€3.14
+89.3%
16.2%€3.81€2.65€1.035
Nov ’23€1.79
€3.17
+77.2%
15.4%€3.82€2.66€0.985

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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