Theta Gold Mines (FRA:3LM) Moat Score: 2/10 (As of Jul. 02, 2026)


FRA:3LM Theta Gold Mines Ltd FRA:3LM
37 GF Score
Price €0.11
! 2 Warning Signs
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What is Theta Gold Mines Moat Score?

Theta Gold Mines FRA:3LM -2.70% 37 Moat Score is 2 as of Jul. 02, 2026. GuruFocus rates FRA:3LM with a GF Score™ of 37/100. The stock has 2 warning signs investors should review. Among 2,612 Metals & Mining companies, Theta Gold Mines ranks better than 83.23% on this metric.

Theta Gold Mines has the Moat Score of 2, which implies that the company might have No Moat - Very weak/transient advantages.

Theta Gold Mines has No Moat: Theta Gold Mines Ltd lacks significant market leadership or durable cost advantages. The company operates in a highly competitive mining sector with no discernible network effects or strong brand loyalty. There are no significant regulatory barriers or exclusive licenses that provide a competitive edge.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Theta Gold Mines might have No Moat - Very weak/transient advantages.

Theta Gold Mines  (FRA:3LM) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Theta Gold Mines Moat Score Related Terms

FRA:3LM vs NEM, AU: Moat Score Comparison

For the Gold subindustry, Theta Gold Mines's Moat Score, along with its competitors' market caps and Moat Score 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 Moat Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Theta Gold Mines's Moat Score distribution charts can be found below:

* The bar in red indicates where Theta Gold Mines's Moat Score falls into.


FRA:3LM
37GF Score
Theta Gold Mines Ltd FRA:3LM
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 2 mean?
Theta Gold Mines (FRA:3LM) has a Moat Score of 2 as of Jul. 02, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Theta Gold Mines ranks #438 out of 2612 companies in the Metals & Mining industry, placing it in the top 16.8%.
Is Theta Gold Mines' Moat Score too high?
Theta Gold Mines' current Moat Score is 2. The Metals & Mining industry median Moat Score is 1.00. Theta Gold Mines' value of 2 is 100% above this industry median. Based on the distribution chart, Theta Gold Mines ranks #438 out of 2612 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Theta Gold Mines has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Theta Gold Mines' Moat Score compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Theta Gold Mines ranks #438 out of 2612 companies for Moat Score. This places Theta Gold Mines in the top 17% of its industry — outperforming the majority of peers. The industry median Moat Score is 1.00. Theta Gold Mines' value of 2 is 100% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Metals & Mining company?
The median Moat Score among Metals & Mining companies is 1.00, based on 2,612 companies in the industry. Companies in the top quartile (top 25%) have a Moat Score significantly above this median, while those in the bottom quartile fall well below. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Theta Gold Mines's current Moat Score of 2 is 100% 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 Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. For the Metals & Mining industry, the median Moat Score is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Theta Gold Mines's current Moat Score is 2. 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 Moat Score of 2. The current Moat Score is 2 and 100% above the Metals & Mining industry median of 1.00. Theta Gold Mines' overall GF Score™ is 37/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Theta Gold Mines (FRA:3LM), the current Moat Score is 2 as of Jul. 02, 2026. 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 Business Description

Other Exchanges TGMGF:USATGM:Australia
Address 100 Barangaroo Avenue, Suite 80, Level 35 (ServCorp), International Tower One, Sydney, NSW, AUS, 2000
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.
37GF Score

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Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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