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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 32.3% higher compared to the last 12 months (LTM)
  • Prices of production are at 94.7% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Dividend yield for the last twelve months 10.1%
  • Free cash flow yield 13.3% (LTM), projected 28.4%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 15.8% higher than minimum and 56.6% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.9x 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 -5 091 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 20 983 mln rub, expected mult is 5.4x, target mult is 8.3x, potential is +146.9%

Key Financials (Download financials)

Ticker: SELG
Share price, RUB:  (+8.7%)39.58
year average price 60.64  


year start price 65.94 2023-12-23

max close price 83.28 2024-04-12

min close price 35.40 2024-12-16

current price 39.58 2024-12-21
Common stocks: 1 030 000 000
Dividend Yield:  10.1%
FCF Yield LTM / expected: 13.3% / 28.4%
EV / LTM EBITDA: 5.9x
EV / EBITDA annualized: 2.6x
Production prices change from LTM: 32.3%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 40 767
Net Debt (m RUB): 68 645
EV (Enterprise Value): 109 412
EBITDA LTM (m RUB): 18 396
Net Income LTM (m RUB): -12 822
EV / LTM EBITDA: 5.9x
Average daily trading volume for the week, RUB mln: 65
P / B 4.1x

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