Kenmare Resources plc

LSE:KMR Stock Report

Market Cap: UK£316.3m

Kenmare Resources Valuation

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

Below Fair Value: KMR (£3.55) is trading below our estimate of fair value (£16.57)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for KMR. This is calculated by dividing KMR's market cap by their current earnings.
What is KMR's PE Ratio?
PE Ratio4.7x
EarningsUS$84.08m
Market CapUS$398.42m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for KMR 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£264.0m
CAPD Capital
7.2x11.0%UK£164.9m
MTL Metals Exploration
0.9x-60.3%UK£98.5m
KOD Kodal Minerals
2.4x-46.5%UK£64.8m
KMR Kenmare Resources
4.7x4.3%UK£316.3m

Price-To-Earnings vs Peers: KMR 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 KMR's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

9 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$124.08m
KMR 4.7xIndustry Avg. 10.2xNo. of Companies9PE01020304050+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KMR is good value based on its Price-To-Earnings Ratio (4.7x) compared to the UK Metals and Mining industry average (10.2x).

Price to Earnings Ratio vs Fair Ratio

What is KMR'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.

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

Price-To-Earnings vs Fair Ratio: KMR 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 KMR 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
+68.5%
26.7%UK£8.51UK£4.22n/a4
Nov ’25UK£3.54
UK£5.97
+68.7%
26.7%UK£8.51UK£4.22n/a4
Oct ’25UK£3.42
UK£5.84
+71.1%
25.5%UK£8.22UK£4.20n/a4
Sep ’25UK£3.51
UK£5.80
+65.6%
27.7%UK£8.38UK£4.19n/a4
Aug ’25UK£3.38
UK£5.94
+75.9%
28.1%UK£8.57UK£4.23n/a4
Jul ’25UK£3.23
UK£5.81
+79.8%
28.0%UK£8.37UK£4.20n/a4
Jun ’25UK£3.60
UK£5.91
+64.1%
27.7%UK£8.49UK£4.32n/a4
May ’25UK£3.28
UK£5.91
+80.4%
27.7%UK£8.49UK£4.32n/a4
Apr ’25UK£3.27
UK£5.95
+82.1%
27.6%UK£8.55UK£4.40n/a4
Mar ’25UK£3.05
UK£5.90
+93.4%
27.9%UK£8.50UK£4.30n/a4
Feb ’25UK£3.17
UK£5.64
+78.0%
29.7%UK£8.50UK£4.29n/a4
Jan ’25UK£3.95
UK£6.59
+67.1%
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£3.544
Oct ’24UK£4.15
UK£7.25
+74.7%
17.4%UK£8.87UK£5.40UK£3.424
Sep ’24UK£4.20
UK£7.01
+67.1%
16.0%UK£8.50UK£5.43UK£3.514
Aug ’24UK£4.24
UK£7.04
+66.2%
16.4%UK£8.71UK£5.53UK£3.384
Jul ’24UK£4.47
UK£7.43
+66.1%
10.0%UK£8.51UK£6.56UK£3.234
Jun ’24UK£4.41
UK£6.71
+52.1%
13.0%UK£7.77UK£5.37UK£3.604
May ’24UK£4.62
UK£6.85
+48.3%
14.7%UK£8.24UK£5.43UK£3.284
Apr ’24UK£4.70
UK£7.26
+54.6%
9.4%UK£8.19UK£6.58UK£3.273
Mar ’24UK£4.89
UK£7.30
+49.2%
5.4%UK£7.79UK£6.83UK£3.053
Feb ’24UK£4.77
UK£7.30
+53.0%
5.4%UK£7.79UK£6.83UK£3.173
Jan ’24UK£4.39
UK£6.96
+58.7%
3.1%UK£7.12UK£6.65UK£3.953
Dec ’23UK£4.36
UK£7.11
+63.4%
2.7%UK£7.35UK£6.88UK£4.103
Nov ’23UK£4.10
UK£7.41
+80.7%
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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