The aim with this study was to analyse the population dynamics of Saxifraga cotyledon, a rare, long lived herb, with semelparous rosettes. In Sweden, S. cotyledon grows in fragmented habitats at high altitude and is classified as vulnerable according to the IUCN system. From a five year demographical study we estimated population growth rates and extinction risks for one small and one large subpopulation. In the small subpopulation deterministic matrix simulations showed large variation, with two transitions projecting negative and two projecting positive population growth. The large subpopulation also showed large variation, but all yearly transitions projected positive population growth. In both subpopulations survival and growth contributed more than twice as much to population growth rates than did sexual reproduction, vegetative reproduction and the seed bank all taken together. In stochastic simulations the maximum likelihood growth estimator was larger than 1 for both subpopulations. None of the two subpopulations suffer from high extinction rates and although the effect of demographic stochasticity increase extinction risk in small populations it is enough with 70 individuals for a viable population of S. cotyledon. Hence, for the studied population of S. cotyledon, rareness per se is not a good indicator of vulnerability.