ATEX Resources Inc.

TSXV:ATX Stock Report

Market Cap: CA$300.7m

ATEX Resources Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 ATX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ATX (CA$1.44) is trading below our estimate of fair value (CA$82.29)

Significantly Below Fair Value: ATX is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As ATX 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 ATX. This is calculated by dividing ATX's market cap by their current book value.
What is ATX's PB Ratio?
PB Ratio-38.1x
Book-CA$7.90m
Market CapCA$300.69m

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for ATX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average4x
ORE Orezone Gold
0.9x72.1%CA$298.0m
JAG Jaguar Mining
0.8xn/aCA$301.4m
MAW Mawson Gold
13.2xn/aCA$290.8m
MND Mandalay Resources
1x34.2%CA$311.1m
ATX ATEX Resources
n/a66.5%CA$300.7m

Price-To-Book vs Peers: ATX has negative equity and a Price-To-Book Ratio (-38.1x) compared to the peer average (4x).

Price to Book Ratio vs Industry

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

91 CompaniesPrice / BookEstimated GrowthMarket Cap
AOT Ascot Resources
0.3xn/aUS$85.56m
S Sherritt International
0.1xn/aUS$49.35m
WM Wallbridge Mining
0.2xn/aUS$46.88m
NCU Nevada Copper
0.1xn/aUS$31.56m
ATX is unprofitableIndustry Avg. 1.4xNo. of Companies156PB01.22.43.64.86+
91 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ATX has negative equity and a Price-To-Book Ratio (-38.1x) compared to the Canadian Metals and Mining industry average (1.4x).

Price to Book Ratio vs Fair Ratio

What is ATX'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.

ATX PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio-38.1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ATX'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 ATX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$1.44
CA$2.69
+86.9%
17.1%CA$3.50CA$2.15n/a6
Nov ’25CA$1.64
CA$2.73
+66.5%
18.2%CA$3.50CA$2.15n/a5
Oct ’25CA$1.45
CA$2.63
+81.4%
20.2%CA$3.50CA$2.15n/a5
Sep ’25CA$1.23
CA$2.58
+109.8%
22.3%CA$3.50CA$2.00n/a5
Aug ’25CA$1.23
CA$2.58
+110.6%
22.3%CA$3.50CA$2.00n/a5
Jul ’25CA$1.26
CA$2.49
+97.4%
17.0%CA$3.00CA$2.00n/a4
Jun ’25CA$1.48
CA$2.49
+68.1%
17.0%CA$3.00CA$2.00n/a4
May ’25CA$1.34
CA$2.49
+85.6%
17.0%CA$3.00CA$2.00n/a4
Apr ’25CA$1.46
CA$2.24
+53.4%
7.4%CA$2.50CA$2.00n/a5
Mar ’25CA$1.18
CA$2.24
+89.8%
7.4%CA$2.50CA$2.00n/a5
Feb ’25CA$0.93
CA$2.24
+140.9%
7.4%CA$2.50CA$2.00n/a5
Jan ’25CA$0.75
CA$2.28
+203.3%
5.9%CA$2.50CA$2.15n/a4
Dec ’24CA$0.87
CA$2.28
+161.5%
5.9%CA$2.50CA$2.15n/a4
Nov ’24CA$0.73
CA$2.28
+211.6%
5.9%CA$2.50CA$2.15CA$1.644
Oct ’24CA$0.68
CA$2.42
+255.9%
13.0%CA$3.00CA$2.15CA$1.455
Sep ’24CA$0.82
CA$2.40
+192.7%
13.8%CA$3.00CA$2.10CA$1.235
Aug ’24CA$1.09
CA$2.40
+120.2%
13.8%CA$3.00CA$2.10CA$1.235
Jul ’24CA$0.85
CA$2.18
+155.9%
5.3%CA$2.30CA$2.00CA$1.264
Jun ’24CA$1.02
CA$2.18
+113.2%
5.3%CA$2.30CA$2.00CA$1.484
May ’24CA$1.49
CA$2.18
+46.0%
5.3%CA$2.30CA$2.00CA$1.344
Apr ’24CA$1.57
CA$2.16
+37.7%
5.5%CA$2.30CA$2.00CA$1.464
Mar ’24CA$1.18
CA$1.65
+39.8%
18.7%CA$2.00CA$1.25CA$1.183
Feb ’24CA$0.97
CA$1.23
+26.3%
2.0%CA$1.25CA$1.20CA$0.932
Jan ’24CA$0.77
CA$1.23
+59.1%
2.0%CA$1.25CA$1.20CA$0.752
Dec ’23CA$0.68
CA$1.47
+115.7%
23.3%CA$1.95CA$1.20CA$0.873
Nov ’23CA$0.47
CA$1.47
+208.8%
23.3%CA$1.95CA$1.20CA$0.733

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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