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Shandong Gold Mining Co (600547) Fair Value & Analysis

Basic Materials · CN · Market cap 115B CNY

SG Shandong Gold Mining Co 600547 · SHG
Price¥29.96
Fair Value¥15.98
Upside-46.7%
Quality40/100
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Healthy Growth
Thin margins · 4.7% net margin
Moderate debt · generates free cash flow
1.46% dividend yield
Mixed vs. peers (8/14)
Narrow moat 43/100
Evidence: Medium Range ¥11.99 – ¥30.70 Share as image

Fair value as of: Jul 13, 2026

From 25 valuation models · updated 25 days ago

Fair value updated Jul 13, 2026, revised from ¥17.12 to ¥15.98 (−6.7%) since Jul 5, 2026. Share price +21.8% over the past month.

Below-average quality, and screening another 47% overvalued on our models.

What matters now

  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥11.99 to ¥30.70) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥60.61 ¥16.55 Fair Value ¥15.98 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range ¥16.55 – ¥60.61 · fair‑value band ¥11.99 – ¥30.70 · the ¥29.96 price screens above the ¥15.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Shandong Gold Mining Co (600547) currently trades at ¥29.96, while our model-based Fair Value estimate is ¥15.98, implying the stock looks roughly 46.7% overvalued today. We read business quality at 40/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Shandong Gold Mining Co generated revenue of 111B CNY at a net margin of 4.7%. Revenue grew 25.4% year over year. It earns a return on equity of 12.1%. Net debt stands at 70.2B CNY. Fundamentals as of Jul 13, 2026

Our scenario range runs from ¥11.99 (bear case) to ¥30.70 (bull case); at ¥29.96, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 54% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 16% fair-value upside, at -47%, 600547 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥33.50 ¥68.01 ¥133.66 80
Residual Income ¥9.16 ¥12.13 ¥38.17 76
Rev-Margin DCF ¥35.14 ¥72.73 ¥128.81 74
All 25 models by family
DCF Models
FCF DCF ¥35.21 ¥60.94 ¥134.27 38
5Y Revenue Exit ¥35.14 ¥68.91 ¥134.76 39
5Y EBITDA Exit ¥48.96 ¥98.89 ¥190.30 41
5Y P/E Exit ¥22.90 ¥46.01 ¥75.14 38
10Y Revenue Exit ¥33.62 ¥73.90 ¥123.45 36
10Y EBITDA Exit ¥44.80 ¥99.98 ¥201.98 37
10Y P/E Exit ¥26.47 ¥50.82 ¥91.10 35
Earnings-Based
Graham-Dodd ¥9.39 ¥65.51 ¥91.93 54
Lynch FV ¥19.34 ¥27.63 ¥35.92 50
PEG = 1.0 ¥19.34 ¥27.63 ¥35.92 46
EPV ¥28.50 ¥33.62 ¥38.10 59
Dividend Discount
Gordon GGM ¥3.73 ¥7.75 ¥12.29 70
DDM Multi-Stage ¥3.73 ¥6.53 ¥8.13 61
Multiples
P/E Multiple ¥20.72 ¥27.63 ¥34.54 63
P/S Multiple ¥17.61 ¥23.48 ¥29.35 58
P/B Multiple ¥17.61 ¥23.48 ¥29.35 55
EV/EBIT ¥50.52 ¥68.11 ¥85.69 53
EV/EBITDA ¥55.50 ¥74.75 ¥93.99 54
EV/Revenue ¥33.33 ¥48.57 ¥63.81 43
Asset-Based
NCAV (Graham) ¥4.28 ¥5.74 ¥8.56 50
Growth DCF
Growth DCF ¥33.50 ¥68.01 ¥133.66 80
Rev-Margin DCF ¥35.14 ¥72.73 ¥128.81 74
Economic Profit
Residual Income ¥9.16 ¥12.13 ¥38.17 76
ROIC Compounder ¥35.50 ¥51.45 ¥73.24 72
Growth Earnings
Growth-Adj P/E ¥25.92 ¥37.02 ¥48.13 68

Widest divergence: DCF Models (¥68.91) versus Asset-Based (¥5.74). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 111B CNY
Revenue growth (YoY) +25.4%
Net margin 4.7%
Return on equity 12.1%
Free cash flow 8.6B CNY FY2025
P/E ratio 24.2
More key figures
Operating margin 12.9%
EPS (TTM) ¥1.03
Dividend yield 1.5%
EPS growth (YoY) +45.0%
Net debt 70.2B CNY FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 47 · Market factors (momentum, volatility) 27

Profitability 37
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 38
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Gold Mining Co reported revenue of ¥104B in FY2025 versus ¥33.9B in FY2021, a compound +32.4%/yr. Reported net income was ¥5.0B in FY2025.

Growth Quality 87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
104B CNY
Latest YoY
+26.4%
Avg. growth/yr (3Y)
+27.5%
Avg. growth/yr (5Y)
+10.4%
Avg. growth/yr (25Y)
+27.9%
Revenue +32.4%/yr
FY21 ¥33.9B
FY22 ¥50.3B
FY23 ¥59.3B
FY24 ¥82.5B
FY25 ¥104B
Net income
FY21 −¥194M
FY22 ¥1.2B
FY23 ¥2.3B
FY24 ¥3.0B
FY25 ¥5.0B

600547 screens 47% overvalued. Compare with Newmont Corporation →

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Cite: Fair Value Calculator (2026). "Shandong Gold Mining Co Fair Value". https://www.fairvalue-calculator.com/stock/600547

Peer Group

Gold · 259 stocks

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.

Quality Score 40 · Above median
Fair Value upside −47% · Below median
Return on equity (TTM) 12% · Above median
Return on assets 6% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 13% · Below median
Revenue growth 25% · Below median
Dividend yield (TTM) 1.5% · Above median
Debt / equity 0.83× · Higher than 75% of peers

Valuation Multiples vs Gold median · lower = cheaper

P/E (TTM) 24.2× · Pricier than 75% of peers
P/B 3.72× · Pricier than 75% of peers
P/S (TTM) 1.04× · Cheaper than 75% of peers
P/FCF 2.0× · Cheaper than 75% of peers
EV/EBITDA 5.3× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 100
PAST 48 · sector 0
HEALTH 59 · sector 98
DIVIDEND 29 · sector 24

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Gold stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Newmont Corporation NEMCL $112.00 $132.73 +19%
Zijin Mining Group 601899 ¥28.36 ¥30.58 +8%
Agnico Eagle Mines Limited AEM C$191.93 C$154.33 -20%
Barrick Mining Corporation B $34.93 $50.66 +45%
Wheaton Precious Metals Corp WPM C$152.57 C$52.47 -66%
Franco-Nevada Corporation FNV C$284.75 C$97.76 -66%
AngloGold Ashanti plc AU $76.35 $88.63 +16%
Gold Fields Limited GFI $33.33 $59.06 +77%
Kinross Gold Corporation KGC $22.57 $34.62 +53%
Northern Star Resources Limited NST A$20.48 A$15.98 -22%

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Frequently asked questions

Is Shandong Gold Mining Co (600547) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of ¥15.98 versus a price of ¥29.96, about −47% (overvalued).
What is the fair value of 600547?
Our model-based fair value for Shandong Gold Mining Co is ¥15.98 (as of Jul 13, 2026), built from audited fundamentals. The current price is ¥29.96.
What is the quality score of 600547?
Shandong Gold Mining Co has a Quality Score of 40/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Shandong Gold Mining Co (600547)?
Shandong Gold Mining Co reported trailing-twelve-month revenue of about 111B CNY (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 600547?
The net profit margin of Shandong Gold Mining Co is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.
Does Shandong Gold Mining Co pay a dividend?
Shandong Gold Mining Co currently shows a dividend yield of about 1.24% relative to its recent price (as of Jul 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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