Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to د.م4,880, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 7x in the Metals and Mining industry in Africa. Total returns to shareholders of 172% over the past three years. Announcement • Jun 16
Compagnie Minière de Touissit S.A., Annual General Meeting, Jun 29, 2026 Compagnie Minière de Touissit S.A., Annual General Meeting, Jun 29, 2026. Location: casablanca Morocco Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to د.م4,138, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 7x in the Metals and Mining industry in Africa. Total returns to shareholders of 148% over the past three years. Buy Or Sell Opportunity • Jun 01
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 65% to د.م5,499. The fair value is estimated to be د.م4,409, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to د.م4,375, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 7x in the Metals and Mining industry in Africa. Total returns to shareholders of 173% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.م4,459 per share. Buy Or Sell Opportunity • May 13
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 89% to د.م5,449. The fair value is estimated to be د.م4,436, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to د.م4,885, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 8x in the Metals and Mining industry in Africa. Total returns to shareholders of 180% over the past three years. New Risk • Apr 07
New major risk - Revenue and earnings growth Earnings have declined by 6.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 6.6% per year over the past 5 years. Price Target Changed • Mar 31
Price target increased by 10% to د.م1,747 Up from د.م1,585, the current price target is provided by 1 analyst. New target price is 47% below last closing price of د.م3,311. Stock is up 70% over the past year. The company is forecast to post earnings per share of د.م101 next year compared to a net loss per share of د.م8.36 last year. Buy Or Sell Opportunity • Mar 26
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 94% to د.م3,500. The fair value is estimated to be د.م2,840, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 106% to د.م3,445. The fair value is estimated to be د.م2,815, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 119% to د.م3,490. The fair value is estimated to be د.م2,873, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Feb 16
Price target decreased by 26% to د.م1,585 Down from د.م2,140, the current price target is provided by 1 analyst. New target price is 53% below last closing price of د.م3,365. Stock is up 70% over the past year. The company is forecast to post earnings per share of د.م101 next year compared to a net loss per share of د.م8.36 last year. Board Change • Feb 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non Executive Director German Chaparro is the most experienced director on the board, commencing their role in 2023. Independent Director Lamia Rida was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Price Target Changed • Dec 25
Price target decreased by 26% to د.م1,585 Down from د.م2,140, the current price target is provided by 1 analyst. New target price is 12% below last closing price of د.م1,799. Stock is up 11% over the past year. The company is forecast to post earnings per share of د.م101 next year compared to a net loss per share of د.م8.36 last year. Board Change • Dec 25
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non Executive Director German Chaparro is the most experienced director on the board, commencing their role in 2023. Independent Director Lamia Rida was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Price Target Changed • Sep 01
Price target increased by 18% to د.م1,918 Up from د.م1,626, the current price target is provided by 1 analyst. New target price is 29% below last closing price of د.م2,700. Stock is up 61% over the past year. The company is forecast to post earnings per share of د.م107 next year compared to a net loss per share of د.م8.36 last year. New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Announcement • May 27
Compagnie Minière de Touissit S.A., Annual General Meeting, Jun 26, 2025 Compagnie Minière de Touissit S.A., Annual General Meeting, Jun 26, 2025. Reported Earnings • May 05
Full year 2024 earnings released Full year 2024 results: Revenue: د.م616.0m (up 4.1% from FY 2023). Net loss: د.م12.1m (down 108% from profit in FY 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Metals and Mining industry in Africa. New Risk • Apr 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (27% net profit margin). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.م1,635, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Metals and Mining industry in Africa. Total loss to shareholders of 3.5% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to د.م1,999, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 9x in the Metals and Mining industry in Africa. Total returns to shareholders of 20% over the past three years. Buy Or Sell Opportunity • Mar 21
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to د.م1,958. The fair value is estimated to be د.م1,612, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Board Change • Feb 24
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non Executive Director German Chaparro is the most experienced director on the board, commencing their role in 2023. Independent Director Kawtar Johrati was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Dec 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director German Chaparro was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Dividend is not well covered by cash flows (161% cash payout ratio). Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (27% net profit margin). Announcement • Nov 08
Compagnie Minière de Touissit S.A., Annual General Meeting, Dec 05, 2024 Compagnie Minière de Touissit S.A., Annual General Meeting, Dec 05, 2024. Board Change • Nov 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director German Chaparro was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to د.م1,336, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Metals and Mining industry in Africa. Total loss to shareholders of 16% over the past three years. Reported Earnings • Oct 08
First half 2024 earnings released: EPS: د.م55.51 (vs د.م53.84 in 1H 2023) First half 2024 results: EPS: د.م55.51 (up from د.م53.84 in 1H 2023). Revenue: د.م280.9m (up 2.1% from 1H 2023). Net income: د.م93.3m (up 3.1% from 1H 2023). Profit margin: 33% (in line with 1H 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Metals and Mining industry in Africa. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Oct 07
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 27% Last year net profit margin: 39% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Dividend is not well covered by cash flows (161% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (27% net profit margin). Buy Or Sell Opportunity • Oct 07
Now 22% undervalued Over the last 90 days, the stock has risen 19% to د.م1,582. The fair value is estimated to be د.م2,019, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 103% in the next 2 years. New Risk • Oct 02
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Dividend is not well covered by cash flows (161% cash payout ratio). Large one-off items impacting financial results. Price Target Changed • May 08
Price target decreased by 10% to د.م1,837 Down from د.م2,052, the current price target is provided by 1 analyst. New target price is 43% above last closing price of د.م1,289. Stock is down 20% over the past year. Reported Earnings • May 06
Full year 2023 earnings released Full year 2023 results: Revenue: د.م625.9m (up 5.8% from FY 2022). Net income: د.م158.6m (down 34% from FY 2022). Profit margin: 25% (down from 41% in FY 2022). Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Metals and Mining industry in Africa. New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.0% average weekly change). High level of non-cash earnings (81% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Feb 07
Price target increased by 20% to د.م2,102 Up from د.م1,747, the current price target is provided by 1 analyst. New target price is 45% above last closing price of د.م1,450. Stock is down 17% over the past year. The company is forecast to post earnings per share of د.م132 for next year compared to د.م122 last year. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to د.م1,194, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Metals and Mining industry in Africa. Total loss to shareholders of 19% over the past three years. Major Estimate Revision • Dec 29
Consensus revenue estimates decrease by 16% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from د.م763.0m to د.م639.0m. EPS estimate unchanged from د.م146 per share at last update. Metals and Mining industry in Morocco expected to see average net income decline 3.9% next year. Consensus price target down from د.م2,019 to د.م1,747. Share price fell 13% to د.م1,090 over the past week. Price Target Changed • Dec 28
Price target decreased by 15% to د.م1,747 Down from د.م2,063, the current price target is provided by 1 analyst. New target price is 71% above last closing price of د.م1,020. Stock is down 40% over the past year. The company is forecast to post earnings per share of د.م146 for next year compared to د.م122 last year. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to د.م1,108, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Metals and Mining industry in Africa. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.م875 per share. Price Target Changed • Nov 16
Price target decreased by 8.8% to د.م2,063 Down from د.م2,262, the current price target is an average from 2 analysts. New target price is 42% above last closing price of د.م1,456. Stock is down 23% over the past year. The company is forecast to post earnings per share of د.م156 for next year compared to د.م122 last year. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to د.م1,456, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Metals and Mining industry in Africa. Total returns to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at د.م916 per share. Major Estimate Revision • Oct 08
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from د.م657.0m to د.م721.0m. EPS estimate increased from د.م140 to د.م169 per share. Net income forecast to grow 20% next year vs 31% growth forecast for Metals and Mining industry in Morocco. Consensus price target up from د.م2,094 to د.م2,262. Share price fell 2.7% to د.م1,800 over the past week. New Risk • Oct 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). High level of non-cash earnings (81% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • Aug 17
Upcoming dividend of د.م60.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 23 August 2023. Payment date: 01 September 2023. Trailing yield: 3.0%. Lower than top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (8.6%). Board Change • Jun 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Ramon Carrasco was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 24
Price target increased by 12% to د.م2,225 Up from د.م1,993, the current price target is provided by 1 analyst. New target price is 18% above last closing price of د.م1,880. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of د.م102 for next year compared to د.م90.55 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Amine Amor was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Chairman & CEO Luc-Gerard Nyafe is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Aug 16
Upcoming dividend of د.م88.00 per share Eligible shareholders must have bought the stock before 23 August 2022. Payment date: 01 September 2022. Trailing yield: 4.5%. Within top quartile of Moroccan dividend payers (4.4%). Lower than average of industry peers (11%). Price Target Changed • Apr 27
Price target increased to د.م1,540 Up from د.م1,402, the current price target is provided by 1 analyst. New target price is 24% below last closing price of د.م2,020. Stock is up 21% over the past year. The company is forecast to post earnings per share of د.م22.90 for next year compared to د.م26.50 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Chairman & CEO Luc-Gerard Nyafe is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Oct 07
Price target increased to د.م1,944 Up from د.م1,794, the current price target is provided by 1 analyst. New target price is 16% above last closing price of د.م1,671. Stock is up 22% over the past year. Upcoming Dividend • Aug 23
Inaugural dividend of د.م120 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 08 September 2021. The company last paid an ordinary dividend in May 2014. The average dividend yield among industry peers is 8.0%. Reported Earnings • Jun 30
Full year 2020 earnings released: EPS د.م26.50 (vs د.م110 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.م429.7m (down 16% from FY 2019). Net income: د.م44.6m (down 76% from FY 2019). Profit margin: 10% (down from 36% in FY 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 05
New 90-day high: د.م1,715 The company is up 21% from its price of د.م1,420 on 04 November 2020. The Moroccan market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 15% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: د.م1,573 The company is up 10.0% from its price of د.م1,425 on 21 October 2020. The Moroccan market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 10.0% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: د.م1,514 The company is up 12% from its price of د.م1,355 on 15 September 2020. The Moroccan market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: د.م1,467 The company is up 9.0% from its price of د.م1,350 on 26 August 2020. The Moroccan market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 22
New 90-day high: د.م1,425 The company is up 15% from its price of د.م1,241 on 24 July 2020. The Moroccan market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 19% over the same period. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total profits of د.م134.7m, down 16% from the prior year. Total revenue was د.م453.5m over the last 12 months, down 5.3% from the prior year.