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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 31.2% higher compared to the last 12 months (LTM)
  • Prices of production are at 96.5% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Dividend yield for the last twelve months 11.1%
  • Free cash flow yield 14.6% (LTM), projected 29.4%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 5.4% higher than minimum and 60.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.7x vs
    )
  • The company is undervalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 21% on the change in financial parameters: EBITDA adjustment is -5 110 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 20 157 mln rub, expected mult is 5.5x, target mult is 8.3x, potential is +151.6%

Key Financials (Download financials)

Ticker: SELG
Share price, RUB:  (+1.2%)36.03
year average price 61.67  


year start price 60.20 2023-12-07

max close price 83.28 2024-04-12

min close price 35.60 2024-12-04

current price 35.76 2024-12-05
Common stocks: 1 030 000 000

Dividend Yield:  11.1%
FCF Yield LTM / expected: 14.6% / 29.4%
EV / LTM EBITDA: 5.7x
EV / EBITDA annualized: 2.6x
Production prices change from LTM: 31.2%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 37 111
Net Debt (m RUB): 68 645
EV (Enterprise Value): 105 756
EBITDA LTM (m RUB): 18 396
Net Income LTM (m RUB): -12 822
EV / LTM EBITDA: 5.7x
Average daily trading volume for the week, RUB mln: 129
P / B 3.7x

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

P/B and P/E multipliers

P / B

P / E

More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company