Refinitiv furnished the FYDec’27E as a broker consensus estimated figure for the financial year ended December 2027. Earnings per share (EPS) was forecast at USD 0.264 and GBP 0.201. The approximate peer average Price/EPS Multiple (next twelve months) was 12.45x.
Griffin Mining is reportedly trading at a 1.01% discount, with implied price/EPS multiple of 12.33x, which is therefore a normal level for the industry. However, operating risks abound and could eat into profit margins.
Upside risk, in this instance failure to crystallise gains from continuing operations, are evident in the Caijiaying Mine, in which Giffin has an 88.8% holding in a joint venture in China, which is operating at around 50% of capacity. Additionally, regulatory approval for the TSF4 tailings facility is still pending.
Although it posted better financials, Griffin Mining declared a 29% decrease in ore processing volumes for H1 2026. Further, declining zinc and gold production point to continued operating problems, with ongoing down payments against fixed assets meaning high liabilities acting as a cap on future profits.
Despite the improvement in overall profitability, capital outlay went up with less retained earnings for shareholder distributions. Operating cash generation fell from USD 33.71 to USD 22.4mn. Admin expenses on staffing and regulatory compliance will continue to act as a drag on profit;
“Continued capital expenditure and substantial share buybacks could further constrain financial flexibility if production restrictions persist,” wrote Kalkine in an analyst note.
Looking more closely at equity, the exchange traded volume of the 173.29mn shares outstanding is just 77.86mn in free float. Return on investment over the trailing 12 months ended 30 June 2026 is at 11.97%.
However with a P/E ratio on a TTM basis at 20.66, the stock looks potentially over-valued and set for a pricing correction. The Tangible Book Value per share as per its last reported filings is GBP 1.67.
Time to set up a short position or realise profits by liquidating your position?
In terms of resale value of commodities produced by Griffin Mining’s operations, the following list shows short-term market movements and current exchange traded price of contracts linked to these assets underlying.
Zinc – $3241.0 (+0.43%)
Gold – $4320.5 (+0.52%)
Silver – $60.5 (-1.18%)
Iron Ore – $90.83 (-0.81%)
If you want to maintain your exposure to these widely traded metals, consider alternative mining operators. The top three operators transacting in gold by short-term improvement in share price – correct at 13:11 GMT – are:
Rockfin Resources (ROCK +3.75%) to GBP 0.124 – market cap 12.471mn
Kavango Resources (KAV +3.70%) to GBP 0.700 – market cap 26.349mn
Serabi Gold plc (SRB +3.29%) to GBP 242.725 – market cap 227.961mn.
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