OTC: TORXF - Torex Gold Resources Inc.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 1.55
CAGR EPS = 4.02%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.55 * (1 + 4.02%) / (0.0433 * 2) = 18.58

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.6399
Ebitda Yield = 0.0335
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.0022
Debt = 0.1412
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.1412) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = -2.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -2.41 * 5.94 + 0 = -0.115
WACC = (0.0022 / 0.1412) * (100% - 0) * (1 - 0.21) + -0.115 + 0 = 1.23
Terminal Value = Discount (0.6399 * (1 + 0.0335) / (1.23 - 0.0335)) = 29.37
Company Value = ∑ (0.6399 / (1 + 1.23) ^ 5) = 2.89
Price = (Terminal Value + Company Value) / Count shares = (29.37 + 2.89) / 87010000 = 370.8

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.004
FCF Yield = -1.51
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.0022
Debt = 0.1412
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.1412) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = -2.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -2.41 * 5.94 + 0 = -0.115
WACC = (0.0022 / 0.1412) * (100% - 0) * (1 - 0.21) + -0.115 + 0 = 1.23
Terminal Value = Discount (0.004 * (1 + -1.51) / (1.23 - -1.51)) = -0.0013
Company Value = ∑ (0.004 / (1 + 1.23) ^ 5) = 0.039
Price = (Terminal Value + Company Value) / Count shares = (-0.0013 + 0.039) / 87010000 = 0.4336