Steppe Gold Ltd (STGO) Fair Value & Analysis
Basic Materials · CA · Market cap C$291M
Fair value as of: Jun 24, 2026
From 24 valuation models · updated 6 days ago
Fair value updated Jun 24, 2026 — revised from C$5.16 to C$2.20 (−57.4%) since Jun 23, 2026. Share price +7.4% over the past month.
Price vs Fair Value (12 months)
12‑month range C$1.14 – C$2.44 · fair‑value band C$1.65 – C$2.75 · the C$1.34 price screens below the C$2.20 fair value. As of Jun 24, 2026.
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Steppe Gold Ltd (STGO) currently trades at C$1.34, while our model-based Fair Value estimate is C$2.20 — implying the stock looks roughly 64.2% undervalued today. We read business quality at 95/100 (high quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.
Over the trailing twelve months, Steppe Gold Ltd generated revenue of C$275M at a net margin of 16.5%. Revenue grew 64.3% year over year. It earns a return on equity of 32.6%. Net debt stands at C$61.2M. Fundamentals as of Jun 24, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.
About the company
Steppe Gold Ltd. engages in acquiring, exploring, developing, and operating of precious metal projects in Mongolia and Peru. It primarily explores gold and polymetallic deposits. The company holds 100% interest in the Altan Tsagaan Ovoo property covering an area of approximately 5,492 hectares located in Ulaanbaatar, Mongolia; and Boroo and Ulaanbulag mine property covering an area of approximately 6,594 hectares located in Mongolia. It also explores Uudam Khundii gold project covering an area of 14,400 hectares located in Bayankhongor province, Mongolia. The company is based in Toronto, Canada. Steppe Gold Ltd. operates as a subsidiary of Boroo Pte Ltd.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Steppe Gold Ltd reported revenue of C$254M in FY2025 versus C$24.1M in FY2021, a compound +80.3%/yr. Reported net income was C$32.7M in FY2025.
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| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Newmont Corporation NEMCL | $112.00 | $186.78 | +67% |
| Zijin Mining Group 601899 | ¥27.70 | ¥39.42 | +42% |
| Agnico Eagle Mines Limited AEM | $152.48 | $243.94 | +60% |
| Barrick Mining Corporation B | $42.79 | $73.15 | +71% |
| Wheaton Precious Metals Corp SII | €93.84 | €49.15 | -48% |
| AngloGold Ashanti plc AU | $83.79 | $88.63 | +6% |
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.