Zangge Mining stock: fair value
000408.SZThe fair value of Zangge Mining under our model is $9.54, the price is 1% above.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $6.81 and expensive above $15.90 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $5.79 (cash-flow model) and $13.29 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 7.3%. At 8.3% the fair value would be $9.06, at 6.3% it would be $10.25.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (19.2).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.3%. Discounted at 7.3% (floor: government bond yield 2.3% plus 5 percentage points, since beta 0.8 times the risk premium would give less); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $5.79 per share: free cash flow for the next ten years, each year discounted to today at 7.3%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 7.3%) |
|---|---|---|---|---|
| 2026 | $503.4M | extrapolated at −3.2% | 0.9319 | $469.1M |
| 2027 | $495.64M | extrapolated at −1.5% | 0.8684 | $430.41M |
| 2028 | $493.72M | extrapolated at −0.4% | 0.8092 | $399.54M |
| 2029 | $495.81M | extrapolated at 0.4% | 0.7541 | $373.9M |
| 2030 | $500.72M | extrapolated at 1.0% | 0.7027 | $351.88M |
| 2031 | $507.65M | extrapolated at 1.4% | 0.6549 | $332.45M |
| 2032 | $516.09M | extrapolated at 1.7% | 0.6103 | $314.95M |
| 2033 | $525.68M | extrapolated at 1.9% | 0.5687 | $298.95M |
| 2034 | $536.15M | extrapolated at 2.0% | 0.5300 | $284.14M |
| 2035 | $547.35M | extrapolated at 2.1% | 0.4939 | $270.31M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $3.53B |
| Terminal value: cash flow 2035 × (1 + 2.3%) / (7.3% − 2.3%) | $11.2B |
| Present value of terminal value (× 0.4939) | $5.53B |
| Equity value (sum plus present value of terminal value) | $9.06B |
| Shares (diluted) | 1.56B |
| Value per share (equity value divided by shares) | $5.79 |
| Earnings per share, last twelve months | $0.69 |
| × 19.2 (industry P/E) | $13.29 |
| Fair value (average of both parts) | $9.54 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 31 May 2022)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.