Patriot Battery Metals Valuation

Is R9GA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

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 R9GA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate R9GA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate R9GA's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for R9GA?

Key metric: As R9GA 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 R9GA. This is calculated by dividing R9GA's market cap by their current book value.
What is R9GA's PB Ratio?
PB Ratio	1.6x
Book	CA$245.12m
Market Cap	CA$380.87m

R9GA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	-16.1x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does R9GA's PB Ratio compare to its peers?

The above table shows the PB ratio for R9GA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	14.3x
M0LY Greenland Resources	44.3x	n/a	€62.8m
EIS Eisen- und Hüttenwerke	2.4x	n/a	€221.8m
W2C IberAmerican Lithium	9.8x	n/a	€2.0m
UZU Uzin Utz	0.9x	2.1%	€244.1m
R9GA Patriot Battery Metals	1.6x	-18.3%	€380.9m

Price-To-Book vs Peers: R9GA is good value based on its Price-To-Book Ratio (1.6x) compared to the peer average (14.3x).

Price to Book Ratio vs Industry

How does R9GA's PB Ratio compare vs other companies in the European Metals and Mining Industry?

22 Companies	Price / Book	Estimated Growth	Market Cap

22 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: R9GA is expensive based on its Price-To-Book Ratio (1.6x) compared to the European Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is R9GA'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.

R9GA PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	1.6x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate R9GA'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 R9GA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€1.77	€7.32 +313.4%	33.5%	€10.71	€3.81	n/a	10
Nov ’25	€2.39	€7.59 +217.5%	28.9%	€10.71	€4.28	n/a	10
Oct ’25	€2.39	€7.63 +219.4%	36.8%	€13.25	€3.84	n/a	10
Sep ’25	€2.62	€8.46 +222.7%	27.7%	€13.29	€5.18	n/a	10
Aug ’25	€2.84	€9.46 +233.0%	19.2%	€13.34	€6.00	n/a	10
Jul ’25	€3.27	€9.91 +203.2%	19.6%	€13.65	€6.14	n/a	10
Jun ’25	€5.48	€11.02 +101.0%	12.9%	€13.53	€9.13	n/a	7
May ’25	€4.66	€11.10 +138.1%	14.6%	€13.68	€8.55	n/a	8
Apr ’25	€5.68	€11.02 +94.0%	14.6%	€13.58	€8.49	n/a	8
Mar ’25	€5.62	€11.06 +96.7%	14.6%	€13.63	€8.52	n/a	8
Feb ’25	€4.39	€12.44 +183.3%	12.2%	€15.12	€10.31	n/a	8
Jan ’25	€6.90	€12.46 +80.5%	10.4%	€15.06	€10.95	n/a	9
Dec ’24	€6.44	€12.74 +97.8%	10.6%	€14.89	€10.83	€1.89	8
Nov ’24	€6.30	€12.82 +103.5%	10.6%	€14.99	€10.90	€2.39	8
Oct ’24	€7.60	€13.37 +76.0%	11.5%	€15.43	€11.23	€2.39	8
Sep ’24	€7.76	€13.13 +69.2%	11.4%	€14.98	€10.89	€2.62	8
Aug ’24	€10.50	€13.14 +25.2%	12.2%	€15.07	€10.96	€2.84	7
Jul ’24	€10.45	€12.80 +22.5%	10.0%	€14.53	€11.07	€3.27	7
Jun ’24	€10.50	€12.17 +15.9%	7.4%	€13.74	€10.99	€5.48	6
May ’24	€8.24	€11.10 +34.7%	8.7%	€12.16	€9.30	€4.66	6
Apr ’24	€8.88	€11.08 +24.7%	8.6%	€12.38	€9.47	€5.68	5
Mar ’24	€11.06	€11.26 +1.8%	8.5%	€12.71	€9.72	€5.62	5
Feb ’24	€10.34	€8.27 -20.0%	30.9%	€11.41	€5.70	€4.39	5
Jan ’24	€4.45	€6.25 +40.5%	6.6%	€6.96	€5.89	€6.90	4
Dec ’23	€5.55	€6.25 +12.7%	6.6%	€6.96	€5.89	€6.44	4

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.