NGEx Minerals Ltd.

TSX:NGEX Stock Report

Market Cap: CA$2.6b

NGEx Minerals Valuation

Is NGEX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NGEX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate NGEX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NGEX's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NGEX?

Key metric: As NGEX is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for NGEX. This is calculated by dividing NGEX's market cap by their current book value.
What is NGEX's PB Ratio?
PB Ratio54.2x
BookCA$48.08m
Market CapCA$2.63b

Price to Book Ratio vs Peers

How does NGEX's PB Ratio compare to its peers?

The above table shows the PB ratio for NGEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average9.6x
FOM Foran Mining
2.2x64.2%CA$1.8b
AFM Alphamin Resources
3xn/aCA$1.5b
LAC Lithium Americas
1.2x12.7%CA$1.1b
FIL Filo
32x4.2%CA$4.4b
NGEX NGEx Minerals
54.2x-5.4%CA$2.6b

Price-To-Book vs Peers: NGEX is expensive based on its Price-To-Book Ratio (54.2x) compared to the peer average (9.6x).

Price to Book Ratio vs Industry

How does NGEX's PB Ratio compare vs other companies in the CA Metals and Mining Industry?

90 CompaniesPrice / BookEstimated GrowthMarket Cap
S Sherritt International
0.1xn/aUS$52.57m
WM Wallbridge Mining
0.2xn/aUS$43.61m
NCU Nevada Copper
0.1xn/aUS$31.56m
ELR Eastern Platinum
0.3xn/aUS$26.05m
NGEX 54.2xIndustry Avg. 1.4xNo. of Companies156PB01.22.43.64.86+
90 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: NGEX is expensive based on its Price-To-Book Ratio (54.2x) compared to the Canadian Metals and Mining industry average (1.4x).

Price to Book Ratio vs Fair Ratio

What is NGEX's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NGEX PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio54.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate NGEX's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NGEX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$12.60
CA$14.91
+18.4%
9.0%CA$17.55CA$13.68n/a6
Nov ’25CA$11.62
CA$14.15
+21.8%
4.7%CA$15.41CA$13.40n/a6
Oct ’25CA$11.15
CA$13.08
+17.3%
8.6%CA$15.05CA$11.83n/a6
Sep ’25CA$10.98
CA$12.43
+13.2%
7.9%CA$14.00CA$10.98n/a6
Aug ’25CA$9.18
CA$12.55
+36.7%
7.2%CA$13.66CA$11.00n/a6
Jul ’25CA$8.10
CA$12.34
+52.3%
6.9%CA$13.49CA$11.00n/a6
Jun ’25CA$9.73
CA$12.16
+25.0%
6.3%CA$13.26CA$11.00n/a5
May ’25CA$9.77
CA$11.89
+21.7%
6.1%CA$12.99CA$11.01n/a4
Apr ’25CA$8.74
CA$11.18
+28.0%
10.4%CA$12.81CA$9.54n/a4
Mar ’25CA$7.96
CA$11.20
+40.7%
11.9%CA$12.73CA$9.48n/a3
Feb ’25CA$8.67
CA$10.89
+25.6%
16.8%CA$12.72CA$9.06n/a2
Jan ’25CA$7.16
CA$8.20
+14.5%
3.8%CA$8.51CA$7.88n/a2
Dec ’24CA$7.05
CA$7.36
+4.4%
9.2%CA$8.04CA$6.68n/a2
Nov ’24CA$5.65
CA$7.58
+34.1%
7.9%CA$8.11CA$6.74CA$11.623
Oct ’24CA$5.62
CA$7.80
+38.9%
3.1%CA$8.14CA$7.62CA$11.153
Sep ’24CA$6.47
CA$7.80
+20.6%
3.1%CA$8.14CA$7.62CA$10.983
Aug ’24CA$6.95
CA$7.72
+11.1%
2.6%CA$7.99CA$7.51CA$9.183
Jul ’24CA$7.24
CA$7.43
+2.6%
4.1%CA$7.66CA$7.00CA$8.103
Jun ’24CA$6.60
CA$7.48
+13.4%
3.9%CA$7.70CA$7.07CA$9.733
May ’24CA$5.87
CA$6.13
+4.4%
28.9%CA$7.65CA$3.64CA$9.773
Apr ’24CA$4.12
CA$3.97
-3.5%
6.4%CA$4.32CA$3.72CA$8.743
Mar ’24CA$3.57
CA$3.98
+11.4%
5.3%CA$4.19CA$3.77CA$7.962
Feb ’24CA$3.17
CA$3.87
+22.2%
2.9%CA$3.99CA$3.76CA$8.672
Jan ’24CA$3.08
CA$3.53
+14.7%
13.5%CA$4.01CA$3.06CA$7.162
Dec ’23CA$3.35
CA$3.59
+7.3%
12.5%CA$4.01CA$2.97CA$7.053
Nov ’23CA$2.48
CA$3.47
+39.8%
13.3%CA$3.93CA$3.01CA$5.652

Analyst Forecast: Target price is less than 20% higher than the current share price.

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