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General information

TOP-10 gold producer with growing output and financials. Historically had moderate corporate governance (related party transactions, etc), but starting with 2019 is paying dividends and shows signs of governance improvement
  • Current market environment: positive. Prices of production are 38.9% higher compared to the last 12 months (LTM)
  • Prices of production are at 99.7% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Dividend yield for the last twelve months 2.7%
  • Free cash flow yield 32.3% (LTM), projected 43.5%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 100.0%
  • Share price is 117.0% higher than minimum and 18.7% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (8.6x vs
    )
  • The company is undervalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 16.0% on the change in financial parameters: EBITDA adjustment is -1 521 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 24 047 mln rub, expected mult is 4.6x, target mult is 5.9x, potential is +42.8%

Key Financials (Download financials)

Ticker: SELG
Share price, RUB:  (+1.7%)74.16
year average price 65.75  


year start price 48.77 2023-03-31

min close price 48.13 2023-05-19

max close price 91.22 2023-09-05

current price 73.27 2024-03-29
Common stocks: 1 030 000 000

Dividend Yield:  2.7%
FCF Yield LTM / expected: 32.3% / 43.5%
EV / LTM EBITDA: 8.6x
EV / EBITDA annualized: 5.1x
Production prices change from LTM: 38.9%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 76 385
Net Debt (m RUB): 50 981
EV (Enterprise Value): 127 366
EBITDA LTM (m RUB): 14 871
EV / LTM EBITDA: 8.6x
Average daily trading volume for the week, RUB mln: 333.44

Revenue and EBITDA

Quarterly values (m RUB)

Change (y/y)

Cash Flow

FCF (m RUB), before FX effects elimination

Net Debt / Cash and Equivalents (m RUB)

Share price and dividends (Download history)

Share price

Payment RUB per share

Multiple and potential

EV / LTM EBITDA and 50% percentile

Potential dynamics

Daily trade volumes

Millions of RUB

More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company
Статистика по динамике производства золота
Дата Процент изменения
2023-12-2.5%
2023-11-2.0%
2023-10-2.2%
2023-09+1.7%
2023-08+3.8%
2023-07+5.5%
2023-06+5.5%
2023-050.0%
2023-04+9.4%
2023-03+9.4%
2023-02+6.9%
2023-01-9.6%
2022-11+9.1%
2022-10+19.1%
2022-09+1.9%
2022-08+7.9%
2022-07+5.7%
2022-06-13.6%
2022-05-4.6%
2022-04-3.4%
2022-03-3.1%
2022-02+7.1%
2022-01+4.1%