Thor Explorations Ltd. (THX) Fair Value & Analysis
Basic Materials · CA · Market cap C$833M
Strengths
Risks
Fair value as of: Aug 20, 2026
From 24 valuation models · updated 3 days ago
Fair value updated Aug 20, 2026, revised from C$3.54 to C$4.17 (+17.8%) since Aug 13, 2026. Share price +24.1% over the past month.
A strong business, screening 200% undervalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The rarer combination: high quality (81/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (C$3.11). The market is more pessimistic than our downside scenario.
- The model range is unusually wide (C$3.11 to C$10.36). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
60‑month range C$0.1668 – C$1.78 · fair‑value band C$3.11 – C$10.36 · the C$1.39 price screens below the C$4.17 fair value. Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Thor Explorations Ltd. (THX) currently trades at C$1.39, while our model-based Fair Value estimate is C$4.17, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 81/100 (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, Thor Explorations Ltd. generated revenue of C$336M at a net margin of 62.1%. Revenue grew 16.0% year over year. It earns a return on equity of 63.9%. Net debt stands at C$62.6M. Fundamentals as of Aug 20, 2026
Our scenario range runs from C$3.11 (bear case) to C$10.36 (bull case); at C$1.39, the current price sits below 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 27% below its 52-week high and 104% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -9% fair-value upside, at 200%, THX screens cheaper 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.
All 24 models by family
Widest divergence: Growth Earnings (C$12.68) versus Asset-Based (C$0.3800). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 81 · Market factors (momentum, volatility) 46
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
Thor Explorations Ltd., together with its subsidiaries, engages in the production, development, and exploration of gold. The company also explores for silver and lithium deposits. Its flagship property is the Segilola Gold Project in Nigeria. Thor Explorations Ltd. was incorporated in 1968 and is based in Vancouver, Canada.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Thor Explorations Ltd. reported revenue of C$325M in FY2025 versus C$7.8M in FY2021, a compound +154.0%/yr. Reported net income was C$196M in FY2025.
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Peer Group
Gold · 248 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.
Valuation Multiples vs Gold median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Gold stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Newmont Corporation NEMCL | $112.00 | $112.82 | +1% |
| Zijin Mining Group 601899 | ¥32.21 | ¥39.42 | +22% |
| Agnico Eagle Mines Limited AEM | C$257.82 | C$154.33 | -40% |
| Barrick Mining Corporation B | $41.23 | $50.66 | +23% |
| Wheaton Precious Metals Corp WPM | C$187.84 | C$52.47 | -72% |
| Franco-Nevada Corporation FNV | C$346.87 | C$118.53 | -66% |
| AngloGold Ashanti plc AU | $97.92 | $88.63 | -9% |
| Gold Fields Limited GFI | $40.73 | $59.06 | +45% |
| Zijin Gold International Company 2259 | HK$160.30 | HK$96.81 | -40% |
| Kinross Gold Corporation K | C$38.29 | C$34.62 | -10% |
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Frequently asked questions
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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.
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