Shandong Gold Mining Co Ltd (600547) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Shandong Gold Mining Co Ltd stock ¥23.61, price ¥26.59, that is 11.2% below the price, quality 49 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ¥16.55 – ¥60.61 · fair‑value band ¥16.53 – ¥30.70 · the ¥26.59 price screens above the ¥23.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Shandong Gold Mining Co., Ltd. engages in mining, smelting, processing, and precious metals in the People's Republic of China. It explores for silver, copper, iron, lead, and zinc metals.
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The company is also involved in manufacturing special equipment for gold mines; gold and non-ferrous metal mining and smelting; and building decoration materials, as well as invests in gold bars.
In addition, it offers ecological restoration and environmental protection, investment and asset management, construction engineering, futures brokerage, and consulting and investigation services.
Shandong Gold Mining Co., Ltd. was incorporated in 2000 and is based in Jinan, the People's Republic of China.
Stock analysis
Shandong Gold Mining Co Ltd (600547) currently trades at ¥26.59, while our model-based Fair Value estimate is ¥23.61, 11% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥35.50 per share, and 12 of the 24 models we run sit above the ¥26.59 price.
Bear case: the Dividend Discount group reads lowest at ¥3.28, and 12 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥16.53 (bear) to ¥30.70 (bull), the price of ¥26.59 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Shandong Gold Mining Co Ltd reported revenue of 104B CNY in FY2025 versus 33.9B CNY in FY2021, a compound +32.4%/yr. Reported net income was 5.0B CNY in FY2025.
Key figures
Market cap 141B CNY (≈ $21.2B) Large · P/E ratio 24.7 · P/S ratio 1.14 · EPS (TTM) ¥1.08 · Dividend yield 1.0% · Net margin 5.4% · Return on equity 13.2% · Return on assets (EBIT) 3.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −7% fair-value upside, at −11%, 600547 screens richer than that median.
Fair Value models
Bear¥16.53Fair Value ¥23.61Bull¥30.70
Price ¥26.59 · Downside -11.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.6837 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+26.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.4%
Start year 2020 (pandemic). Over 10 years: +10.4% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.9%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.3%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19.5% vs 12.3%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 14%
2025 sits 124% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +5.9% a year for the price and +8.7% for the forecasts.
AI conclusion: Commodity exposure and limited differentiation create a weak overall position, while high debt relative to equity adds structural financial strain despite internal confidence signals.
Main risk: Inclusion on the US UFLPA Entity List and resulting LBMA suspension from Good Delivery lists could restrict the refinery's access to international bullion markets and limit sales channels for refined gold.
Bull case: By resolving the regulatory issues through enhanced supply-chain due diligence and leveraging its reserves alongside operational improvements, the company could secure broader market access and match peer efficiencies.
Bear case: Persistent regulatory barriers combined with ongoing cost disadvantages versus Zijin could constrain international sales and erode profitability as lower-cost rivals expand their positions.
Shandong Gold's board has approved a plan to repurchase and cancel A-shares, citing confidence in its development outlook. Production targets for 2026 have been lowered substantially from earlier plans. Our models see the shares as overvalued. Will the capital return support stronger long-term value creation than the near-term output constraints allow, or will operational realities dominate?
Compare Shandong Gold Mining Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gold · 203 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside−11.2% · Above median
Profitability
Return on equity (12 months)13.2% · Above median
Return on assets4.0% · Above median
Net margin (12 months)7.5% · Bottom 25%
Operating margin (12 months)26.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−31.7% · Bottom 25%
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.83× · Highest 25%
Valuation Multiplesvs Gold median · lower = cheaper
P/E (12 months)24.7× · Priciest 25%
P/B4.56× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)1.93× · Cheapest 25%
Price / free cash flow (fiscal year)22.6× · Pricier than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Shandong Gold Mining Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600547
Frequently asked questions
Is Shandong Gold Mining Co Ltd (600547) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥23.61 versus a price of ¥26.59, about 11% lower (overvalued).
What is the fair value of 600547?
Our model-based fair value for Shandong Gold Mining Co Ltd is ¥23.61 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥26.59.
What is the quality score of 600547?
Shandong Gold Mining Co Ltd has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Shandong Gold Mining Co Ltd (600547)?
Our model-based price target is the fair value of ¥23.61 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario ¥16.53, optimistic scenario ¥30.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Shandong Gold Mining Co Ltd stock forecast for 2026?
Our models put fair value at ¥23.61, about 11% lower versus a price of ¥26.59 (overvalued). Cautious scenario ¥16.53, optimistic scenario ¥30.70. The calculation is refreshed regularly with new filings.
What is the revenue of Shandong Gold Mining Co Ltd (600547)?
Shandong Gold Mining Co Ltd reported trailing-twelve-month revenue of about 101B CNY (latest available figure, as of Nov 6, 2026).
Does Shandong Gold Mining Co Ltd pay a dividend?
Shandong Gold Mining Co Ltd currently shows a dividend yield of 1.03% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Shandong Gold Mining Co Ltd (600547)?
For today's price to be fair in a discounted-cash-flow model, Shandong Gold Mining Co Ltd would have to grow free cash flow by +7.7 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.4 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 600547 use?
Our models discount Shandong Gold Mining Co Ltd at 8.9 %: a base by market capitalisation (large), damped by beta 0.58, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Shandong Gold Mining Co Ltd that is +7.7 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Shandong Gold Mining Co Ltd (600547) delivered so far?
Over the past 5 years revenue at Shandong Gold Mining Co Ltd grew +10.4 % a year. The price currently implies +7.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Shandong Gold Mining Co Ltd (600547) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Shandong Gold Mining Co Ltd (+7.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Shandong Gold Mining Co Ltd (600547)?
The free-cash-flow yield on the price is 6.10 %: that much free cash flow Shandong Gold Mining Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shandong Gold Mining Co Ltd (600547)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shandong Gold Mining Co Ltd it is ¥23.61 per share (as of Nov 6, 2026), against a price of ¥26.59. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Shandong Gold Mining Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 600547 trades above its calculated fair value: price ¥26.59, fair value ¥23.61, a gap of about −11% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 600547?
No. The price is what the market pays today (¥26.59); the fair value is what the company's own numbers justify (¥23.61). For Shandong Gold Mining Co Ltd the two are ¥2.98 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shandong Gold Mining Co Ltd worth?
The market values Shandong Gold Mining Co Ltd at about 141B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥26.59; our models calculate a fair value of ¥23.61 per share.
What do the bullish and bearish scenarios say about 600547?
Our models span a range for Shandong Gold Mining Co Ltd: cautious scenario ¥16.53, base ¥23.61, optimistic ¥30.70 per share (as of Nov 6, 2026, price ¥26.59). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600547?
Shandong Gold Mining Co Ltd trades at a price-to-earnings ratio of 24.7 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥23.61 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2020 to 2025), reported earnings: 50.3. Other multiples: P/B 4.6, P/S 1.9, EV/EBITDA 8.5.
How solid is the balance sheet of Shandong Gold Mining Co Ltd (600547)?
Balance-sheet figures for Shandong Gold Mining Co Ltd (as of Nov 6, 2026): return on equity 13.2%, debt of 0.83 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 600547 from its 52-week high?
Shandong Gold Mining Co Ltd trades at ¥26.59, about 56% below its 52-week high of ¥60.61 and 17% above the low of ¥22.81 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥23.61 is for.
Which stocks are comparable to Shandong Gold Mining Co Ltd?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Wheaton Precious Metals Corp, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shandong Gold Mining Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price ¥26.59, calculated fair value ¥23.61 (−11%), Quality Score 49/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 600547 calculated?
We run Shandong Gold Mining Co Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥23.61, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Shandong Gold Mining Co Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shandong Gold Mining Co Ltd (600547)?
The closing price on Nov 5, 2026 was ¥26.59. Our model-based fair value is ¥23.61, about 11% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shandong Gold Mining Co Ltd right now?
A fairly wide model range (¥16.53 to ¥30.70) leaves room in how you read the outcome. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Shandong Gold Mining Co Ltd (600547) come from?
Earnings per share at Shandong Gold Mining Co Ltd grew +8.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.6 %, EBIT margin +14.5 %, tax rate −0.7 %, residual (interest, one-offs) −4.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shandong Gold Mining Co Ltd
How large is the market capitalisation of Shandong Gold Mining Co Ltd (600547)?
The market capitalisation of Shandong Gold Mining Co Ltd is 141B CNY (≈ $21.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Shandong Gold Mining Co Ltd (600547)?
The price-to-sales ratio of Shandong Gold Mining Co Ltd is 1.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shandong Gold Mining Co Ltd (600547)?
Earnings per share at Shandong Gold Mining Co Ltd are ¥1.08 (price ÷ EPS = P/E 24.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shandong Gold Mining Co Ltd (600547)?
The dividend yield of Shandong Gold Mining Co Ltd is 1.0% (payout 25.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Shandong Gold Mining Co Ltd (600547)?
The net margin of Shandong Gold Mining Co Ltd is 5.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shandong Gold Mining Co Ltd (600547)?
The return on equity (ROE) of Shandong Gold Mining Co Ltd is 13.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shandong Gold Mining Co Ltd (600547)?
On an EBIT basis the return on assets of Shandong Gold Mining Co Ltd is 3.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shandong Gold Mining Co Ltd (600547)?
The operating margin of Shandong Gold Mining Co Ltd is 26.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shandong Gold Mining Co Ltd (600547)?
Revenue at Shandong Gold Mining Co Ltd is growing −31.7% versus a year earlier (3y avg +27.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shandong Gold Mining Co Ltd (600547)?
Earnings per share at Shandong Gold Mining Co Ltd are growing +17.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Shandong Gold Mining Co Ltd (600547) carry?
The net debt of Shandong Gold Mining Co Ltd is 70.2B CNY (fiscal year 2025, ≈ 8.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 6, 2026