Lundin Gold Inc.

LSE:0R4M Stock Report

Market Cap: SEK 187.9b

Lundin Gold Valuation

Is 0R4M undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • 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 0R4M when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SEK 524.19
Fair Value
46.4% overvalued intrinsic discount
12
Number of Analysts

Below Fair Value: 0R4M (SEK767.36) is trading above our estimate of fair value (SEK524.19)

Significantly Below Fair Value: 0R4M is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0R4M?

Key metric: As 0R4M is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0R4M. This is calculated by dividing 0R4M's market cap by their current earnings.
What is 0R4M's PE Ratio?
PE Ratio28.9x
EarningsUS$687.09m
Market CapUS$19.86b

Price to Earnings Ratio vs Peers

How does 0R4M's PE Ratio compare to its peers?

The above table shows the PE ratio for 0R4M vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.2x
HOC Hochschild Mining
19x24.92%UK£2.1b
PAF Pan African Resources
19.8x27.95%UK£2.1b
FRES Fresnillo
58.1x36.43%UK£20.1b
ALTN AltynGold
7.9x14.99%UK£270.6m
0R4M Lundin Gold
28.9x15.32%SEK 27.8b

Price-To-Earnings vs Peers: 0R4M is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the peer average (26.2x).

Price to Earnings Ratio vs Industry

How does 0R4M's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ENPL En+ Group International
2.2x8.04%US$4.67b
NLMK Novolipetsk Steel
0.8xn/aUS$4.08b
EVR EVRAZ
0.4xn/aUS$1.42b
POG Petropavlovsk
2.5x12.47%US$56.91m
0R4M 28.9xIndustry Avg. 16.8xNo. of Companies7PE01020304050+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0R4M is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the UK Metals and Mining industry average (16.8x).

Price to Earnings Ratio vs Fair Ratio

What is 0R4M'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.

0R4M PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28.9x
Fair PE Ratio24.3x

Price-To-Earnings vs Fair Ratio: 0R4M is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the estimated Fair Price-To-Earnings Ratio (24.3x).

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 0R4M forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 767.36
SEK 630.78
-17.80%
16.88%SEK 830.54SEK 472.67n/a12
Nov ’26SEK 644.45
SEK 622.32
-3.43%
14.73%SEK 783.25SEK 472.65n/a12
Oct ’26SEK 617.56
SEK 498.79
-19.23%
14.97%SEK 625.45SEK 336.26n/a12
Sep ’26SEK 581.50
SEK 474.50
-18.40%
16.14%SEK 587.37SEK 345.51n/a12
Aug ’26SEK 457.60
SEK 463.51
+1.29%
16.04%SEK 596.19SEK 350.70n/a12
Jul ’26SEK 495.60
SEK 419.03
-15.45%
21.53%SEK 618.13SEK 298.65n/a12
Jun ’26SEK 449.00
SEK 400.49
-10.80%
15.71%SEK 487.03SEK 299.17n/a12
May ’26SEK 388.60
SEK 354.75
-8.71%
15.35%SEK 462.95SEK 292.39n/a12
Apr ’26SEK 313.00
SEK 288.18
-7.93%
17.46%SEK 420.02SEK 224.01n/a12
Mar ’26SEK 298.07
SEK 292.70
-1.80%
12.84%SEK 370.41SEK 238.25n/a12
Feb ’26SEK 276.98
SEK 282.71
+2.07%
10.76%SEK 335.82SEK 232.79n/a12
Jan ’26SEK 233.50
SEK 276.14
+18.26%
11.08%SEK 329.48SEK 222.21n/a13
Dec ’25SEK 254.50
SEK 280.19
+10.09%
10.21%SEK 334.45SEK 225.56SEK 814.8313
Nov ’25SEK 257.00
SEK 250.57
-2.50%
13.77%SEK 321.91SEK 195.44SEK 644.4513
Oct ’25SEK 223.00
SEK 223.25
+0.11%
9.86%SEK 262.82SEK 191.48SEK 617.5613
Sep ’25SEK 206.00
SEK 206.29
+0.14%
8.12%SEK 242.08SEK 189.12SEK 581.5013
Aug ’25SEK 186.60
SEK 207.82
+11.37%
7.61%SEK 239.24SEK 182.83SEK 457.6013
Jul ’25SEK 158.00
SEK 188.62
+19.38%
8.20%SEK 216.07SEK 162.06SEK 495.6013
Jun ’25SEK 155.60
SEK 186.38
+19.78%
8.61%SEK 216.92SEK 162.69SEK 449.0013
May ’25SEK 155.80
SEK 182.60
+17.20%
10.89%SEK 221.56SEK 158.25SEK 388.6013
Apr ’25SEK 147.20
SEK 163.19
+10.87%
6.41%SEK 179.82SEK 138.33SEK 313.0013
Mar ’25SEK 121.80
SEK 156.00
+28.07%
6.50%SEK 173.18SEK 133.22SEK 298.0713
Feb ’25SEK 127.21
SEK 159.44
+25.34%
6.71%SEK 176.65SEK 135.89SEK 276.9812
Jan ’25SEK 129.20
SEK 154.98
+19.96%
4.44%SEK 166.12SEK 143.47SEK 233.5010
Dec ’24SEK 125.40
SEK 159.57
+27.25%
4.67%SEK 173.94SEK 150.22SEK 254.5011
SEK 622.8
Fair Value
23.2% overvalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/02 06:09
End of Day Share Price 2025/12/02 00:00
Earnings2025/09/30
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

Lundin Gold Inc. is covered by 30 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian QuastBMO Capital Markets Equity Research
Jeremy HoyCanaccord Genuity
Carey MacRuryCanaccord Genuity