Kenmare Resources plc

BATS-CHIXE:KMRL Stock Report

Market Cap: UK£276.6m

Kenmare Resources Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

UK£22.82
Fair Value
86.7% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: KMRL (£3.12) is trading below our estimate of fair value (£32.74)

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

Key Valuation Metric

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

Key metric: As KMRL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for KMRL. This is calculated by dividing KMRL's market cap by their current revenue.
What is KMRL's PS Ratio?
PS Ratio0.9x
SalesUS$417.32m
Market CapUS$369.27m

Price to Sales Ratio vs Peers

How does KMRL's PS Ratio compare to its peers?

The above table shows the PS ratio for KMRL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3x
AAZ Anglo Asian Mining
4.7x87.45%UK£234.4m
GFM Griffin Mining
3.8x19.42%UK£325.1m
CAPD Capital
0.8x7.85%UK£208.0m
MTL Metals Exploration
2.5x25.42%UK£406.9m
KMRL Kenmare Resources
0.9x4.80%UK£276.6m

Price-To-Sales vs Peers: KMRL is good value based on its Price-To-Sales Ratio (0.9x) compared to the peer average (3x).

Price to Sales Ratio vs Industry

How does KMRL's PS Ratio compare vs other companies in the GB Metals and Mining Industry?

26 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.n/a2.6%
KMRL Kenmare Resources
 0.9x4.80%US$369.27m
GLEN Glencore
0.2x1.62%US$54.51b
ENPL En+ Group International
0.3x1.57%US$4.67b
No. of Companies25PS0612182430+
26 CompaniesEstimated GrowthMarket Cap
Industry Avg.n/a27.1%
KMRL Kenmare Resources
 0.9x94.13%US$369.27m
No more companies

Price-To-Sales vs Industry: KMRL is good value based on its Price-To-Sales Ratio (0.9x) compared to the UK Metals and Mining industry average (2.6x).

Price to Sales Ratio vs Fair Ratio

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

KMRL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.9x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: KMRL is expensive based on its Price-To-Sales Ratio (0.9x) compared to the estimated Fair Price-To-Sales Ratio (0.8x).

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 KMRL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£3.12
UK£5.87
+88.33%
32.32%UK£8.59UK£3.30n/a4
Oct ’26UK£3.12
UK£5.90
+89.09%
29.46%UK£8.49UK£3.67n/a4
Sep ’26UK£3.20
UK£5.92
+85.36%
29.19%UK£8.47UK£3.69n/a4
Aug ’26UK£3.30
UK£5.97
+80.98%
30.12%UK£8.47UK£3.69n/a4
Jul ’26UK£3.32
UK£5.66
+70.43%
24.34%UK£7.61UK£3.83n/a4
Jun ’26UK£3.81
UK£6.60
+73.24%
13.19%UK£7.81UK£5.79n/a3
May ’26UK£4.03
UK£6.63
+64.72%
13.17%UK£7.84UK£5.82n/a3
Apr ’26UK£3.98
UK£6.76
+69.93%
14.18%UK£8.07UK£5.80n/a3
Mar ’26UK£2.89
UK£5.90
+104.63%
30.83%UK£8.37UK£3.45n/a4
Feb ’26UK£3.01
UK£5.90
+96.42%
30.83%UK£8.37UK£3.45n/a4
Jan ’26UK£3.18
UK£6.19
+94.80%
26.31%UK£8.50UK£4.20n/a4
Dec ’25UK£3.49
UK£5.97
+71.19%
26.76%UK£8.52UK£4.22n/a4
Nov ’25UK£3.53
UK£5.97
+69.50%
26.76%UK£8.52UK£4.22n/a4
Oct ’25UK£3.40
UK£5.84
+72.07%
25.46%UK£8.22UK£4.20UK£3.124
Sep ’25UK£3.52
UK£5.80
+65.10%
27.75%UK£8.38UK£4.19UK£3.204
Aug ’25UK£3.37
UK£5.94
+76.21%
28.12%UK£8.57UK£4.23UK£3.304
Jul ’25UK£3.25
UK£5.81
+78.66%
28.04%UK£8.37UK£4.20UK£3.324
Jun ’25UK£3.59
UK£5.91
+64.57%
27.74%UK£8.49UK£4.32UK£3.814
May ’25UK£3.30
UK£5.91
+79.31%
27.74%UK£8.49UK£4.32UK£4.034
Apr ’25UK£3.30
UK£5.95
+80.45%
27.63%UK£8.55UK£4.40UK£3.984
Mar ’25UK£3.04
UK£5.90
+94.06%
27.86%UK£8.50UK£4.30UK£2.894
Feb ’25UK£3.16
UK£5.64
+78.56%
29.69%UK£8.50UK£4.29UK£3.014
Jan ’25UK£3.98
UK£6.59
+65.62%
18.55%UK£8.58UK£5.48UK£3.184
Dec ’24UK£4.10
UK£6.98
+70.15%
15.70%UK£8.53UK£5.70UK£3.494
Nov ’24UK£3.92
UK£6.98
+77.97%
15.70%UK£8.53UK£5.70UK£3.534
Oct ’24UK£4.15
UK£7.25
+74.71%
17.44%UK£8.87UK£5.40UK£3.404
UK£5.89
Fair Value
48.6% undervalued intrinsic discount
4
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/10 06:53
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 world class team 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

Kenmare Resources plc is covered by 17 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William DalbyBerenberg
Richard HatchBerenberg
Desmond KilaleaCanaccord Genuity