Thor Explorations Ltd (THXPF) fair value: what the stock is really worth
We calculate from audited financials what Thor Explorations Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range $0.1023 – $1.32 · fair‑value band $1.83 – $5.26 · the $0.9412 price screens below the $2.82 fair value. Dashed = 300-day average. As of Sep 13, 2026.
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.
Stock analysis
Thor Explorations Ltd (THXPF) currently trades at $0.9412, while our model-based Fair Value estimate is $2.82, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $12.90 per share, and 22 of the 26 models we run sit above the $0.9412 price.
Bear case: the Dividend Discount group reads lowest at $0.3400, and 4 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: $1.83 (bear) to $5.26 (bull), the price of $0.9412 sits below 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 85/100 (high quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Thor Explorations Ltd reported revenue of $331M in FY2025 versus $7.6M in FY2021, a compound +156.5%/yr. Reported net income was $200M in FY2025.
Key figures
Market cap $626M · P/E ratio 2.9 · P/S ratio 1.77 · EPS (TTM) $0.3200 · Dividend yield 3.9% · Net margin 60.3% · Return on equity 63.9% · Return on assets (EBIT) 23.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 89% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 13% fair-value upside, at 200%, THXPF screens cheaper than that median.
Fair Value models
Bear $1.83Fair Value $2.82Bull $5.26
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then ($0.1993 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.Evidence ⓘEvidence = 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.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+71.5%
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.
+26.1%
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
−25.8% (2021) → 61.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than 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).
−22.9%
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.
−2.3%
Yearly sales growth analysts expect, extended to five years.
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 · 250 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score85 · Top 25%
Profitability
Return on equity (TTM)64% · Top 25%
Return on assets35% · Top 25%
Net margin (TTM)62% · Top 25%
Operating margin (TTM)62% · Top 25%
Growth and dividend
Revenue growth16% · Below median
Dividend yield (TTM)3.9% · Top 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Gold median · lower = cheaper
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Is Thor Explorations Ltd (THXPF) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $2.82 versus a price of $0.9412, about +200% upside (undervalued).
What is the fair value of THXPF?
Our model-based fair value for Thor Explorations Ltd is $2.82 (as of Sep 13, 2026), built from audited fundamentals. The current price: $0.9412.
What is the quality score of THXPF?
Thor Explorations Ltd has a Quality Score of 85/100. 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 Thor Explorations Ltd (THXPF)?
Our model-based price target is the fair value of $2.82 (as of Sep 13, 2026) from 26 valuation models. Cautious scenario $1.83, optimistic scenario $5.26. It is a calculation from audited fundamentals, not an analyst target.
What is the Thor Explorations Ltd stock forecast for 2026?
Our models put fair value at $2.82, about +200% upside versus a price of $0.9412 (undervalued). Cautious scenario $1.83, optimistic scenario $5.26. The calculation is refreshed regularly with new filings.
What is the revenue of Thor Explorations Ltd (THXPF)?
Thor Explorations Ltd reported trailing-twelve-month revenue of about $336M (latest available figure, as of Sep 13, 2026).
Does Thor Explorations Ltd pay a dividend?
Thor Explorations Ltd currently shows a dividend yield of about 3.93% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Thor Explorations Ltd (THXPF)?
For today's price to be fair in a discounted-cash-flow model, Thor Explorations Ltd would have to grow free cash flow by -22.9 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +156.5 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of THXPF use?
Our models discount Thor Explorations Ltd at 13.1 %: a base by market capitalisation (small), damped by beta 1.68, country premium for USA. 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 Thor Explorations Ltd that is -22.9 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Thor Explorations Ltd (THXPF) delivered so far?
Over the past 4 years revenue at Thor Explorations Ltd grew +156.5 % a year. The price currently implies -22.9 % 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 Thor Explorations Ltd (THXPF) growing?
The median revenue growth in the sector is +3.2 % a year. That is the yardstick for the growth priced into Thor Explorations Ltd (-22.9 % 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 Thor Explorations Ltd (THXPF)?
The free-cash-flow yield on the price is 29.38 %: that much free cash flow Thor Explorations Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Thor Explorations Ltd (THXPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thor Explorations Ltd it is $2.82 per share (as of Sep 13, 2026), against a price of $0.9412. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Thor Explorations Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, THXPF trades below its calculated fair value: price $0.9412, fair value $2.82, a gap of about +200% (undervalued). 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 THXPF?
No. The price is what the market pays today ($0.9412); the fair value is what the company's own numbers justify ($2.82). For Thor Explorations Ltd the two are $1.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is Thor Explorations Ltd worth?
The market values Thor Explorations Ltd at about $626M (market capitalisation, as of Sep 13, 2026). Per share that is $0.9412; our models calculate a fair value of $2.82 per share.
What do the bullish and bearish scenarios say about THXPF?
Our models span a range for Thor Explorations Ltd: cautious scenario $1.83, base $2.82, optimistic $5.26 per share (as of Sep 13, 2026, price $0.9412). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of THXPF?
Thor Explorations Ltd trades at a price-to-earnings ratio of 2.9 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $2.82 is built from several models across several years. Other multiples: P/B 1.4, P/S 1.6, EV/EBITDA 1.6.
How solid is the balance sheet of Thor Explorations Ltd (THXPF)?
Balance-sheet figures for Thor Explorations Ltd (as of Sep 13, 2026): return on equity 63.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 85/100, which measures business quality independently of the share price.
How far is THXPF from its 52-week high?
Thor Explorations Ltd trades at $0.9412, about 33% below its 52-week high of $1.40 and 89% above the low of $0.4975 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $2.82 is for.
Which stocks are comparable to Thor Explorations Ltd?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Barrick Mining Corporation, 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 Thor Explorations Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price $0.9412, calculated fair value $2.82 (+200%), Quality Score 85/100, from 26 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 THXPF calculated?
We run Thor Explorations Ltd through 26 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 $2.82, 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 15.8 % above its aggregate fair value. Thor Explorations Ltd currently trades 200 % 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 should I pay attention to with Thor Explorations Ltd right now?
The rarer combination: high quality (85/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($1.83). The market is more pessimistic than our downside scenario. The model range is unusually wide ($1.83 to $5.26). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Thor Explorations Ltd
How large is the market capitalisation of Thor Explorations Ltd (THXPF)?
The market capitalisation of Thor Explorations Ltd is $626M. 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 Thor Explorations Ltd (THXPF)?
The price-to-sales ratio of Thor Explorations Ltd is 1.77 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Thor Explorations Ltd (THXPF)?
Earnings per share at Thor Explorations Ltd are $0.3200 (price ÷ EPS = P/E 2.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Thor Explorations Ltd (THXPF)?
The dividend yield of Thor Explorations Ltd is 3.9% (payout 11.6%). 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 Thor Explorations Ltd (THXPF)?
The net margin of Thor Explorations Ltd is 60.3% (fiscal year 2025). 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 Thor Explorations Ltd (THXPF)?
The return on equity (ROE) of Thor Explorations Ltd is 63.9% (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 Thor Explorations Ltd (THXPF)?
On an EBIT basis the return on assets of Thor Explorations Ltd is 23.6% (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 Thor Explorations Ltd (THXPF)?
The operating margin of Thor Explorations Ltd is 62.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thor Explorations Ltd (THXPF)?
Revenue at Thor Explorations Ltd is growing +16.0% versus a year earlier (3y avg +26.1%). 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 Thor Explorations Ltd (THXPF)?
Earnings per share at Thor Explorations Ltd are growing +34.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Thor Explorations Ltd (THXPF) hold?
Thor Explorations Ltd holds more cash than debt, $135M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 13, 2026