Foran Mining Corporation

OTCPK:FMCX.F Stock Report

Market Cap: US$1.3b

Foran Mining Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: FMCX.F ($2.95) is trading above our estimate of fair value ($0.24)

Significantly Below Fair Value: FMCX.F is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FMCX.F?

Key metric: As FMCX.F is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for FMCX.F. This is calculated by dividing FMCX.F's market cap by their current book value.
What is FMCX.F's PB Ratio?
PB Ratio2.2x
BookCA$808.25m
Market CapCA$1.80b

Price to Book Ratio vs Peers

How does FMCX.F's PB Ratio compare to its peers?

The above table shows the PB ratio for FMCX.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average5.3x
IE Ivanhoe Electric
4.4x7.1%US$1.1b
SGML Sigma Lithium
14.7x186.6%US$1.5b
NEXA Nexa Resources
1x77.5%US$1.0b
GSM Ferroglobe
0.9x49.4%US$821.1m
FMCX.F Foran Mining
2.2x64.2%US$1.8b

Price-To-Book vs Peers: FMCX.F is good value based on its Price-To-Book Ratio (2.2x) compared to the peer average (5.3x).

Price to Book Ratio vs Industry

How does FMCX.F's PB Ratio compare vs other companies in the US Metals and Mining Industry?

8 CompaniesPrice / BookEstimated GrowthMarket Cap
NEVD.Q Nevada Copper
0.1xn/aUS$26.02m
VITF.F Victoria Gold
0.06xn/aUS$23.43m
BMXI Brookmount Explorations
0.1xn/aUS$6.20m
LITM Snow Lake Resources
0.2xn/aUS$3.58m
FMCX.F 2.2xIndustry Avg. 1.8xNo. of Companies14PB012345+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: FMCX.F is expensive based on its Price-To-Book Ratio (2.2x) compared to the US Metals and Mining industry average (1.7x).

Price to Book Ratio vs Fair Ratio

What is FMCX.F's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FMCX.F PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio2.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate FMCX.F's Price-To-Book Fair Ratio for valuation analysis.

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 FMCX.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$2.95
US$3.81
+29.1%
14.1%US$4.62US$3.20n/a7
Nov ’25US$3.17
US$3.82
+20.4%
12.5%US$4.51US$3.25n/a7
Oct ’25US$3.11
US$3.91
+25.8%
12.5%US$4.63US$3.33n/a7
Sep ’25US$2.96
US$3.13
+5.6%
39.6%US$4.64US$1.19n/a4
Aug ’25US$2.74
US$3.34
+22.1%
32.9%US$4.54US$1.16n/a6
Jul ’25US$2.86
US$3.84
+34.2%
11.9%US$4.39US$3.29n/a7
Jun ’25US$3.12
US$3.80
+21.9%
11.3%US$4.37US$3.28n/a7
May ’25US$3.06
US$3.82
+24.7%
11.3%US$4.39US$3.29n/a7
Apr ’25US$3.09
US$3.79
+22.6%
11.9%US$4.42US$3.13n/a7
Mar ’25US$2.91
US$3.78
+30.0%
11.4%US$4.44US$3.15n/a7
Feb ’25US$2.99
US$3.80
+27.2%
11.4%US$4.47US$3.16n/a7
Jan ’25US$2.95
US$3.79
+28.5%
12.3%US$4.49US$3.18n/a7
Dec ’24US$3.06
US$3.54
+15.8%
15.3%US$4.42US$2.95n/a5
Nov ’24US$3.08
US$3.62
+17.6%
13.6%US$4.37US$2.92US$3.177
Oct ’24US$2.81
US$3.40
+21.0%
8.1%US$3.87US$2.95US$3.117
Sep ’24US$2.81
US$3.49
+24.2%
8.1%US$3.98US$3.03US$2.967
Aug ’24US$3.04
US$3.49
+14.8%
8.1%US$3.98US$3.03US$2.747
Jul ’24US$2.64
US$3.32
+25.9%
14.5%US$3.96US$2.26US$2.868
Jun ’24US$2.46
US$3.26
+32.5%
14.1%US$3.86US$2.20US$3.128
May ’24US$2.77
US$3.27
+18.2%
14.1%US$3.88US$2.21US$3.068
Apr ’24US$2.89
US$3.01
+4.2%
15.4%US$3.88US$2.21US$3.097
Mar ’24US$2.69
US$2.75
+2.2%
10.4%US$3.15US$2.22US$2.918
Feb ’24US$2.45
US$2.63
+7.2%
8.6%US$2.98US$2.23US$2.998
Jan ’24US$2.21
US$2.50
+13.2%
9.9%US$2.94US$2.18US$2.958
Dec ’23US$2.22
US$2.51
+12.9%
11.7%US$2.98US$2.00US$3.068
Nov ’23US$1.73
US$2.39
+38.2%
13.7%US$2.94US$1.97US$3.088

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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