Saudi Arabian Mining Company (Ma'aden) (SASE:1211) - Share price, News & Analysis

Q: What is the Fair Price of 1211 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

1211 (SAR51.5) is trading below our estimate of [[fair value]] (SAR51.81)

1211 fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	5/6
Financial Health	4/6
Dividends	0/6

1211 Stock Overview

Rewards

Trading at 0.6% below our estimate of its fair value

Earnings grew by 633.2% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 7.6% per year for the next 3 years

Highly volatile share price over the past 3 months

Has a high level of debt

Saudi Arabian Mining Company (Ma'aden) Competitors

Al Masane Al Kobra Mining

SASE:1322

ر.س5.0b

SABIC Agri-Nutrients

SASE:2020

ر.س63.9b

Saudi Basic Industries

SASE:2010

ر.س301.2b

Sahara International Petrochemical

SASE:2310

ر.س33.4b

Price History & Performance

Summary of all time highs, changes and price drops for Saudi Arabian Mining Company (Ma'aden)
Historical stock prices
Current Share Price	ر.س51.50
52 Week High	ر.س75.40
52 Week Low	ر.س28.40
Beta	0.60
1 Month Change	-16.26%
3 Month Change	-22.79%
1 Year Change	74.87%
3 Year Change	111.72%
5 Year Change	94.16%
Change since IPO	237.71%

Recent News & Updates

Jun 09

Analyst Forecasts For Saudi Arabian Mining Company (Ma'aden) (TADAWUL:1211) Are Surging Higher

Celebrations may be in order for Saudi Arabian Mining Company (Ma'aden) ( TADAWUL:1211 ) shareholders, with the...

May 25

Investors Will Want Saudi Arabian Mining Company (Ma'aden)'s (TADAWUL:1211) Growth In ROCE To Persist

What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...

Shareholder Returns

	1211	SA Metals and Mining	SA Market
7D	-1.5%	-1.3%	2.0%
1Y	74.9%	60.9%	12.7%

Return vs Industry: 1211 exceeded the SA Metals and Mining industry which returned 56.3% over the past year.

Return vs Market: 1211 exceeded the SA Market which returned 11.1% over the past year.

Price Volatility

Is 1211's price volatile compared to industry and market?
1211 volatility
1211 Average Weekly Movement	7.3%
Metals and Mining Industry Average Movement	5.0%
Market Average Movement	4.8%
10% most volatile stocks in SA Market	7.0%
10% least volatile stocks in SA Market	3.1%

Stable Share Price: 1211 is more volatile than 90% of SA stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 1211's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of SA stocks.

About the Company

Founded	Employees	CEO	Website
1997	n/a	Bob Wilt	https://www.maaden.com.sa

Saudi Arabian Mining Company (Ma'aden), together with its subsidiaries, operates as a mining and metals company in the Kingdom of Saudi Arabia, Indian Subcontinent and the Asia-Pacific, Brazil, Singapore, GCC MENA, Africa, Europe, the United Kingdom, Australia, Latin America, North America, Switzerland, and internationally. The company operates through Phosphate, Precious and Base Metals, and Aluminium segments. It primarily mines for gold, phosphate rock, bauxite, kaolin, and magnesite, as well as copper, zinc, and silver concentrates.

Saudi Arabian Mining Company (Ma'aden) Fundamentals Summary

How do Saudi Arabian Mining Company (Ma'aden)'s earnings and revenue compare to its market cap?
1211 fundamental statistics
Market Cap	ر.س123.06b
Earnings (TTM)	ر.س6.64b
Revenue (TTM)	ر.س30.23b

19.1x

P/E Ratio

4.2x

P/S Ratio

Is 1211 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
1211 income statement (TTM)
Revenue	ر.س30.23b
Cost of Revenue	ر.س18.32b
Gross Profit	ر.س11.91b
Other Expenses	ر.س5.27b
Earnings	ر.س6.64b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.70
Gross Margin	39.40%
Net Profit Margin	21.96%
Debt/Equity Ratio	97.6%

How did 1211 perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is 1211 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1211?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 1211. This is calculated by dividing 1211's market cap by their current preferred multiple.
What is 1211's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	ر.س123.06b

1211 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	5.6x
Enterprise Value/EBITDA	11.8x
PEG Ratio	-2.5x

Price to Earnings Ratio vs Peers

How does 1211's PE Ratio compare to its peers?

1211 PE Ratio vs Peers

The above table shows the PE ratio for 1211 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	13.4x
1322 Al Masane Al Kobra Mining	25.2x	n/a	ر.س5.0b
2020 SABIC Agri-Nutrients	8.9x	-17.7%	ر.س63.9b
2010 Saudi Basic Industries	12.4x	1.8%	ر.س301.2b
2310 Sahara International Petrochemical	8.2x	-14.9%	ر.س33.4b
1211 Saudi Arabian Mining Company (Ma'aden)	19.1x	-7.6%	ر.س123.1b

Forward PE

Price-To-Earnings vs Peers: 1211 is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the peer average (13.4x).

Price to Earnings Ratio vs Industry

How does 1211's PE Ratio compare vs other companies in the Asian Metals and Mining Industry?

Price-To-Earnings vs Industry: 1211 is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the SA Metals and Mining industry average (18.8x)

Price to Earnings Ratio vs Fair Ratio

What is 1211'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.

1211 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	19.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 1211's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 1211 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1211 (SAR51.5) is trading below our estimate of fair value (SAR51.81)

Significantly Below Fair Value: 1211 is trading below fair value, but not by a significant amount.

Price to Earnings Growth Ratio

PEG Ratio: 1211's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

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Future Growth

How is Saudi Arabian Mining Company (Ma'aden) forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-7.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1211's earnings are forecast to decline over the next 3 years (-7.6% per year).

Earnings vs Market: 1211's earnings are forecast to decline over the next 3 years (-7.6% per year).

High Growth Earnings: 1211's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 1211's revenue is expected to decline over the next 3 years (-6.6% per year).

High Growth Revenue: 1211's revenue is forecast to decline over the next 3 years (-6.6% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 1211's Return on Equity is forecast to be low in 3 years time (13.3%).

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Past Performance

How has Saudi Arabian Mining Company (Ma'aden) performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

40.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1211 has high quality earnings.

Growing Profit Margin: 1211's current net profit margins (22%) are higher than last year (4.6%).

Past Earnings Growth Analysis

Earnings Trend: 1211's earnings have grown significantly by 40.4% per year over the past 5 years.

Accelerating Growth: 1211's earnings growth over the past year (633.2%) exceeds its 5-year average (40.4% per year).

Earnings vs Industry: 1211 earnings growth over the past year (633.2%) exceeded the Metals and Mining industry 35.3%.

Return on Equity

High ROE: 1211's Return on Equity (18.3%) is considered low.

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Financial Health

How is Saudi Arabian Mining Company (Ma'aden)'s financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1211's short term assets (SAR24.6B) exceed its short term liabilities (SAR14.2B).

Long Term Liabilities: 1211's short term assets (SAR24.6B) do not cover its long term liabilities (SAR45.0B).

Debt to Equity History and Analysis

Debt Level: 1211's net debt to equity ratio (76.5%) is considered high.

Reducing Debt: 1211's debt to equity ratio has reduced from 160.4% to 97.6% over the past 5 years.

Debt Coverage: 1211's debt is well covered by operating cash flow (24%).

Interest Coverage: 1211's interest payments on its debt are well covered by EBIT (9.1x coverage).

Balance Sheet

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Dividend

What is Saudi Arabian Mining Company (Ma'aden) current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 1211's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 1211's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 1211's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 1211's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 1211 has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

0.4yrs

Average management tenure

CEO

Bob Wilt (53 yo)

0.33

Tenure

Mr. Robert G. Wilt, also known as Bob, serves as Chief Executive Officer and Director at Saudi Arabian Mining Company (Ma'aden) since February 01, 2022. He served as an Executive Vice President and Group P...

Leadership Team

Experienced Management: 1211's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.

Board Members

Experienced Board: 1211's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/26 00:00
End of Day Share Price	2022/06/26 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31