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Theta Gold MinesFRA:3LM 26 Debt-to-Equity is 0.60 as of Dec. 2025, which is 49% below its 10-year median of 1.17. GuruFocus rates FRA:3LM with a GF Score™ of 26/100. The stock has 2 warning signs investors should review. Among 1,224 Metals & Mining companies, Theta Gold Mines ranks worse than 77.7% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Theta Gold Mines's Debt-to-Equity or its related term are showing as below:
FRA:3LM'
s Debt-to-Equity Range Over the Past 10 Years
Min: -108.5 Med: 1.17 Max: 4.65
Current: 0.6
During the past 13 years, the highest Debt-to-Equity Ratio of Theta Gold Mines was 4.65. The lowest was -108.50. And the median was 1.17.
FRA:3LM's Debt-to-Equity is ranked worse than 77.7% of 1224
companies
in the Metals & Mining industry
Industry Median: 0.14
vs FRA:3LM: 0.60
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Theta Gold Mines Debt-to-Equity Related Terms
Theta Gold Mines Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Theta Gold Mines's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Theta Gold Mines's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Theta Gold Mines Debt-to-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Theta Gold Mines's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Theta Gold Mines's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Theta Gold Mines (FRA:3LM) has a Debt-to-Equity of 0.60 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Theta Gold Mines and its competitors. This is 49% below median its historical median of 1.17. According to the industry distribution chart, Theta Gold Mines ranks #951 out of 1224 companies in the Metals & Mining industry, placing it in the top 77.7%.
Is Theta Gold Mines' Debt-to-Equity too high?
Theta Gold Mines' current Debt-to-Equity of 0.60 is 49% below median its 10-year median of 1.17. The Metals & Mining industry median Debt-to-Equity is 0.14. Theta Gold Mines' value of 0.60 is 328.6% above this industry median. Based on the distribution chart, Theta Gold Mines ranks #951 out of 1224 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Theta Gold Mines has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Theta Gold Mines' Debt-to-Equity compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Theta Gold Mines ranks #951 out of 1224 companies for Debt-to-Equity. This places Theta Gold Mines in the lower half of its industry. The industry median Debt-to-Equity is 0.14. Theta Gold Mines' value of 0.60 is 328.6% above this benchmark. While the company's 10-year median is 1.17 vs. the industry median of 0.14, Theta Gold Mines has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Metals & Mining company?
The median Debt-to-Equity among Metals & Mining companies is 0.14, based on 1,224 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Theta Gold Mines's current Debt-to-Equity of 0.60 is 328.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Theta Gold Mines and its competitors. For the Metals & Mining industry, the median Debt-to-Equity is 0.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Theta Gold Mines's current Debt-to-Equity is 0.60, which is 49% below median its own 10-year median of 1.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Theta Gold Mines stock overvalued right now?
Theta Gold Mines (FRA:3LM) has a current Debt-to-Equity of 0.60. The current Debt-to-Equity is 0.60, which is 49% below median its 10-year median of 1.17 and 328.6% above the Metals & Mining industry median of 0.14. Theta Gold Mines' overall GF Score™ is 26/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Theta Gold Mines (FRA:3LM), the current Debt-to-Equity is 0.60 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Theta Gold Mines Ltd is a gold exploration and development company. The company holds gold assets in the South African gold mining region. The projects of the company include the TGME Project near the historic gold mining town of Pilgrims Rest in Mpumalanga Province, and other projects.
26GF Score
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