Kenmare Resources plc

BATS-CHIXE:KMRL Stock Report

Market Cap: UK£316.8m

Kenmare Resources Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: KMRL (£3.55) is trading below our estimate of fair value (£16.63)

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 profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KMRL. This is calculated by dividing KMRL's market cap by their current earnings.
What is KMRL's PE Ratio?
PE Ratio4.7x
EarningsUS$84.08m
Market CapUS$397.58m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KMRL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average6.5x
GFM Griffin Mining
15.6x-3.8%UK£265.8m
CAPD Capital
7.1x11.0%UK£164.1m
MTL Metals Exploration
0.9x-60.3%UK£101.1m
KOD Kodal Minerals
2.4x-46.5%UK£64.8m
KMRL Kenmare Resources
4.7x4.3%UK£316.8m

Price-To-Earnings vs Peers: KMRL is good value based on its Price-To-Earnings Ratio (4.7x) compared to the peer average (6.5x).

Price to Earnings Ratio vs Industry

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

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ENPL En+ Group International
2.2x8.0%US$4.67b
NLMK Novolipetsk Steel
0.8xn/aUS$4.08b
EVR EVRAZ
0.4xn/aUS$1.42b
MTL Metals Exploration
0.9x-60.3%US$126.89m
No. of Companies8PE01020304050+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KMRL is good value based on its Price-To-Earnings Ratio (4.7x) compared to the UK Metals and Mining industry average (10.3x).

Price to Earnings Ratio vs Fair Ratio

What is KMRL'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.

KMRL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.7x
Fair PE Ratio11.3x

Price-To-Earnings vs Fair Ratio: KMRL is good value based on its Price-To-Earnings Ratio (4.7x) compared to the estimated Fair Price-To-Earnings Ratio (11.3x).

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£3.55
UK£5.97
+68.2%
26.7%UK£8.51UK£4.22n/a4
Nov ’25UK£3.53
UK£5.97
+69.4%
26.7%UK£8.51UK£4.22n/a4
Oct ’25UK£3.40
UK£5.84
+72.1%
25.5%UK£8.22UK£4.20n/a4
Sep ’25UK£3.52
UK£5.80
+65.1%
27.7%UK£8.38UK£4.19n/a4
Aug ’25UK£3.37
UK£5.94
+76.2%
28.1%UK£8.57UK£4.23n/a4
Jul ’25UK£3.25
UK£5.81
+78.7%
28.0%UK£8.37UK£4.20n/a4
Jun ’25UK£3.59
UK£5.91
+64.6%
27.7%UK£8.49UK£4.32n/a4
May ’25UK£3.30
UK£5.91
+79.3%
27.7%UK£8.49UK£4.32n/a4
Apr ’25UK£3.30
UK£5.95
+80.4%
27.6%UK£8.55UK£4.40n/a4
Mar ’25UK£3.04
UK£5.90
+94.1%
27.9%UK£8.50UK£4.30n/a4
Feb ’25UK£3.16
UK£5.64
+78.6%
29.7%UK£8.50UK£4.29n/a4
Jan ’25UK£3.98
UK£6.59
+65.6%
18.6%UK£8.58UK£5.48n/a4
Dec ’24UK£4.10
UK£6.98
+70.2%
15.7%UK£8.53UK£5.70n/a4
Nov ’24UK£3.92
UK£6.98
+78.0%
15.7%UK£8.53UK£5.70UK£3.534
Oct ’24UK£4.15
UK£7.25
+74.7%
17.4%UK£8.87UK£5.40UK£3.404
Sep ’24UK£4.21
UK£7.01
+66.5%
16.0%UK£8.50UK£5.43UK£3.524
Aug ’24UK£4.25
UK£7.04
+65.6%
16.4%UK£8.71UK£5.53UK£3.374
Jul ’24UK£4.49
UK£7.43
+65.6%
10.0%UK£8.51UK£6.56UK£3.254
Jun ’24UK£4.38
UK£6.71
+53.1%
13.0%UK£7.77UK£5.37UK£3.594
May ’24UK£4.60
UK£6.85
+49.0%
14.7%UK£8.24UK£5.43UK£3.304
Apr ’24UK£4.69
UK£7.26
+54.9%
9.4%UK£8.19UK£6.58UK£3.303
Mar ’24UK£4.87
UK£7.30
+49.9%
5.4%UK£7.79UK£6.83UK£3.043
Feb ’24UK£4.76
UK£7.30
+53.3%
5.4%UK£7.79UK£6.83UK£3.163
Jan ’24UK£4.36
UK£6.96
+59.7%
3.1%UK£7.12UK£6.65UK£3.983
Dec ’23UK£4.37
UK£7.11
+63.0%
2.7%UK£7.35UK£6.88UK£4.103
Nov ’23UK£4.04
UK£7.41
+83.3%
6.4%UK£8.07UK£7.05UK£3.923

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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