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 analysts delivering a significant upgrade to their statutory estimates for the company. The analysts have sharply increased their revenue numbers, with a view that Saudi Arabian Mining Company (Ma'aden) will make substantially more sales than they'd previously expected.

Following the upgrade, the latest consensus from Saudi Arabian Mining Company (Ma'aden)'s ten analysts is for revenues of ر.س37b in 2022, which would reflect a substantial 38% improvement in sales compared to the last 12 months. Before the latest update, the analysts were foreseeing ر.س33b of revenue in 2022. It looks like there's been a clear increase in optimism around Saudi Arabian Mining Company (Ma'aden), given the nice increase in revenue forecasts.

View our latest analysis for Saudi Arabian Mining Company (Ma'aden)

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The analysts are definitely expecting Saudi Arabian Mining Company (Ma'aden)'s growth to accelerate, with the forecast 54% annualised growth to the end of 2022 ranking favourably alongside historical growth of 18% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 6.5% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Saudi Arabian Mining Company (Ma'aden) is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They're also forecasting more rapid revenue growth than the wider market. More bullish expectations could be a signal for investors to take a closer look at Saudi Arabian Mining Company (Ma'aden).

Of course, there's always more to the story. We have analyst estimates for Saudi Arabian Mining Company (Ma'aden) going out to 2024, and you can see them free on our platform here.

We also provide an overview of the Saudi Arabian Mining Company (Ma'aden) Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.