Mandalay Resources Corp
TSX:MND

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Mandalay Resources Corp
TSX:MND
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Price: 4.85 CAD 3.19%
Market Cap: 459.1m CAD

Relative Value

The Relative Value of one MND stock under the Base Case scenario is 6.06 CAD. Compared to the current market price of 4.85 CAD, Mandalay Resources Corp is Undervalued by 20%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

MND Relative Value
Base Case
6.06 CAD
Undervaluation 20%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
11
vs Industry
57
Median 3Y
0.9
Median 5Y
0.9
Industry
1.8
Forward
1.3
vs History
53
vs Industry
23
Median 3Y
7.7
Median 5Y
6
Industry
16.6
Forward
5.3
vs History
23
vs Industry
30
Median 3Y
2.5
Median 5Y
2.6
Industry
9.8
vs History
34
vs Industry
19
Median 3Y
6.5
Median 5Y
5.2
Industry
16.4
vs History
19
vs Industry
39
Median 3Y
0.9
Median 5Y
1
Industry
1.7
vs History
28
vs Industry
61
Median 3Y
0.7
Median 5Y
0.8
Industry
2.2
Forward
1
vs History
74
vs Industry
59
Median 3Y
2.4
Median 5Y
2.5
Industry
7.6
vs History
53
vs Industry
30
Median 3Y
1.9
Median 5Y
1.9
Industry
10.8
Forward
1.6
vs History
80
vs Industry
27
Median 3Y
2.9
Median 5Y
3
Industry
13.8
vs History
57
vs Industry
32
Median 3Y
2.1
Median 5Y
2.3
Industry
11.2
vs History
74
vs Industry
21
Median 3Y
4.2
Median 5Y
6.2
Industry
15
vs History
11
vs Industry
45
Median 3Y
0.6
Median 5Y
0.7
Industry
1.5

Multiples Across Competitors

MND Competitors Multiples
Mandalay Resources Corp Competitors

Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
Mandalay Resources Corp
TSX:MND
457.2m CAD 1.3 6 1.9 2.6
RU
Polyus PJSC
LSE:PLZL
70.4T USD 11 511.1 35 824.8 19 763.5 22 679.9
ZA
Gold Fields Ltd
JSE:GFI
408.1B Zac 0 0 0 0
ZA
Harmony Gold Mining Company Ltd
JSE:HAR
165.1B Zac 0 0 0 0
CN
Zijin Mining Group Co Ltd
SSE:601899
537.1B CNY 1.7 14.9 12.5 12.5
US
Newmont Corporation
NYSE:NEM
68.8B USD 3.5 13.6 7.6 10.4
CA
Agnico Eagle Mines Ltd
TSX:AEM
87.2B CAD 7.2 27.1 12 17
AU
Greatland Gold PLC
ASX:GGP
93.5B AUD 5 468.5 5 254.3 -3 954.5 -3 188.7
CA
Wheaton Precious Metals Corp
TSX:WPM
58.7B CAD 29.6 69.8 41.5 55.9
CA
Barrick Gold Corp
TSX:ABX
50.6B CAD 2.8 16.1 5.6 7.7
RU
Polyus PAO
MOEX:PLZL
2.7T RUB 3.9 8.9 6.7 7.4
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
Mandalay Resources Corp
TSX:MND
Average EV/EBITDA: 2 481.4
1.9
8%
0.2
RU
P
Polyus PJSC
LSE:PLZL
19 763.5
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
17%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
27%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
12.5
26%
0.5
US
Newmont Corporation
NYSE:NEM
7.6
6%
1.3
CA
Agnico Eagle Mines Ltd
TSX:AEM
12
9%
1.3
AU
G
Greatland Gold PLC
ASX:GGP
Negative Multiple: -3 954.5 N/A N/A
CA
Wheaton Precious Metals Corp
TSX:WPM
41.5
18%
2.3
CA
Barrick Gold Corp
TSX:ABX
5.6
16%
0.4
RU
Polyus PAO
MOEX:PLZL
6.7
N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
Mandalay Resources Corp
TSX:MND
Average EV/EBIT: 2 849.2
2.6
N/A N/A
RU
P
Polyus PJSC
LSE:PLZL
22 679.9
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
18%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
34%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
12.5
19%
0.7
US
Newmont Corporation
NYSE:NEM
10.4
7%
1.5
CA
Agnico Eagle Mines Ltd
TSX:AEM
17
12%
1.4
AU
G
Greatland Gold PLC
ASX:GGP
Negative Multiple: -3 188.7 N/A N/A
CA
Wheaton Precious Metals Corp
TSX:WPM
55.9
16%
3.5
CA
Barrick Gold Corp
TSX:ABX
7.7
14%
0.6
RU
Polyus PAO
MOEX:PLZL
7.4
N/A N/A