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Nordic Mining ASA (NOM) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Nordic Mining ASA stock NOK 0.89, price NOK 0.70, upside +27.1%, quality 22 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials NO · ISIN NO0013162693

NM Nordic Mining ASA logo Thin data Nov 10, 2026

Nordic Mining ASA

NOM · OL
Fairly valued, weak quality

The stock costs 21% less than our calculation considers fair.

Fair value kr 0.8900 · Fairly valued
Quality 22/100
Weak Growth
High debt
Negative free cash flow
Trails peers (2/7)
Narrow moat 14/100
Thin data
⟳ CyclicalEstimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 57.92 kr 0.4500 Fair Value kr 0.8900 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range kr 0.4500 – kr 57.92 · fair‑value band kr 0.6700 – kr 1.12 · the kr 0.7000 price screens below the kr 0.8900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Nordic Mining ASA, together with its subsidiaries, engages in the exploration, extraction, and production of minerals and metals in Norway. The company explores for rutile, almandine garnet, hydrothermal quartz vein, and titanium sponge deposits.

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Its flagship property is the 100% owned Engebø Rutile and Garnet project located in the Sunnfjord, Vestland, Norway. The company was founded in 2006 and is based in Oslo, Norway.

Stock analysis

Nordic Mining ASA (NOM) currently trades at kr 0.7000, while our estimate is kr 0.8900, so the stock looks roughly fairly valued today (gap 21.3%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 0.6700 (bear) to kr 1.12 (bull), the price of kr 0.7000 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 22/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Nordic Mining ASA reported revenue of 4.8M NOK in FY2025 versus 0 NOK in FY2021. Reported net income was −438M NOK in FY2025.

Key figures

Market cap 75.9M NOK (≈ $8.0M) Micro · P/S ratio 8.80 · EPS (TTM) kr −6.61 · Return on equity −70.5% · Return on assets (EBIT) −8.7% (5-year average) · Operating margin −1,028,640% · Revenue (TTM) 6.4M NOK · Free cash flow −489M NOK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (medium confidence).

What moves the price

The share trades about 96% below its 52-week high and 56% above its 52-week low.

For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at 27%, NOM screens cheaper than that median.

Fair Value

Bear kr 0.6700 Fair Value kr 0.8900 Bull kr 1.12
Price kr 0.7000 · Upside +27.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 22/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 23
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Other Industrial Metals & Mining · 577 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 22 · Bottom 25%
Fair Value upside +27.1% · Top 25%
Profitability
Return on assets −13.3% · Below median
Balance sheet
Debt / equity 1.52× · Highest 25%

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 0.08× · Cheapest 25%
P/S (12 months) 11.87× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)69 · sector 4
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)0 · sector 0
HEALTH (low debt)24 · sector 96
DIVIDEND (yield)0 · sector 33

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹262.00 ₹334.17 +28% vs NOM
Saudi Arabian Mining Company 1211 57.00 SAR 64.24 SAR +13% vs NOM
Western Mining Co 601168 ¥28.25 ¥30.98 +10% vs NOM
Hindustan Zinc Limited HINDZINC ₹575.95 ₹624.91 +9% vs NOM
Boliden AB BOL kr 515.20 kr 464.45 −10% vs NOM
BHP Group BHP A$60.39 A$47.47 −21% vs NOM
Zhejiang Huayou Cobalt Co 603799 ¥32.69 ¥25.57 −22% vs NOM
Korea Zinc Company 010130 967,000 KRW 649,125 KRW −33% vs NOM
CMOC Group 603993 ¥13.71 ¥6.82 −50% vs NOM
China Tungsten And Hightech Materials Co 000657 ¥40.90 ¥4.44 −89% vs NOM

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Nordic Mining ASA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Nordic Mining ASA Fair Value". https://www.fairvalue-calculator.com/stock/NOM

Frequently asked questions

Is Nordic Mining ASA (NOM) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 0.8900 versus a price of kr 0.7000, about +27% upside (fairly valued).
What is the fair value of NOM?
Our estimate for Nordic Mining ASA is kr 0.8900 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 0.7000.
What is the quality score of NOM?
Nordic Mining ASA has a Quality Score of 22/100. 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 Nordic Mining ASA (NOM)?
Our calculated price target is the estimate of kr 0.8900 (as of Nov 10, 2026). Cautious scenario kr 0.6700, optimistic scenario kr 1.12. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Nordic Mining ASA stock forecast for 2026?
Our estimate puts fair value at kr 0.8900, about +27% upside versus a price of kr 0.7000 (fairly valued). Cautious scenario kr 0.6700, optimistic scenario kr 1.12. The calculation is refreshed regularly with new filings.
What is the revenue of Nordic Mining ASA (NOM)?
Nordic Mining ASA reported trailing-twelve-month revenue of about 6.4M NOK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Nordic Mining ASA (NOM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nordic Mining ASA it is kr 0.8900 per share (as of Nov 10, 2026), against a price of kr 0.7000.
Is Nordic Mining ASA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NOM trades below its calculated fair value: price kr 0.7000, fair value kr 0.8900, a gap of about +27% (fairly valued). 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 NOM?
No. The price is what the market pays today (kr 0.7000); the fair value is what the company's own numbers justify (kr 0.8900). For Nordic Mining ASA the two are kr 0.1900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nordic Mining ASA worth?
The market values Nordic Mining ASA at about 75.9M NOK (market capitalisation, as of Nov 10, 2026). Per share that is kr 0.7000; our models calculate a fair value of kr 0.8900 per share.
What do the bullish and bearish scenarios say about NOM?
Our models span a range for Nordic Mining ASA: cautious scenario kr 0.6700, base kr 0.8900, optimistic kr 1.12 per share (as of Nov 10, 2026, price kr 0.7000). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nordic Mining ASA (NOM)?
Balance-sheet figures for Nordic Mining ASA (as of Nov 10, 2026): return on equity −70.5%, debt of 1.52 per unit of equity. They feed the Quality Score of 22/100, which measures business quality independently of the share price.
How far is NOM from its 52-week high?
Nordic Mining ASA trades at kr 0.7000, about 96% below its 52-week high of kr 18.28 and 56% above the low of kr 0.4500 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.8900 is for.
Which stocks are comparable to Nordic Mining ASA?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, 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 Nordic Mining ASA stock attractive at the current price?
The data as of Nov 10, 2026: price kr 0.7000, calculated fair value kr 0.8900 (+27%), Quality Score 22/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Nordic Mining ASA currently trades 21% below its own fair value, and the market average says nothing about that. 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 Nordic Mining ASA (NOM)?
The closing price on Nov 10, 2026 was kr 0.7000. Our estimate is kr 0.8900, about +27% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nordic Mining ASA right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Nordic Mining ASA

How large is the market capitalisation of Nordic Mining ASA (NOM)?
The market capitalisation of Nordic Mining ASA is 75.9M NOK (≈ $8.0M). 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 Nordic Mining ASA (NOM)?
The price-to-sales ratio of Nordic Mining ASA is 8.80 (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 Nordic Mining ASA (NOM)?
Earnings per share at Nordic Mining ASA are kr −6.61. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Nordic Mining ASA (NOM)?
The return on equity (ROE) of Nordic Mining ASA is −70.5% (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 Nordic Mining ASA (NOM)?
On an EBIT basis the return on assets of Nordic Mining ASA is −8.7% (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 Nordic Mining ASA (NOM)?
The operating margin of Nordic Mining ASA is −1,028,640% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much free cash flow does Nordic Mining ASA (NOM) generate?
The free cash flow of Nordic Mining ASA is −489M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nordic Mining ASA (NOM) carry?
The net debt of Nordic Mining ASA is 1.2B NOK (fiscal year 2025). 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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