Skeena Resources Limited

DB:RXF Stock Report

Market Cap: €1.2b

Skeena Resources Valuation

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

Discounted Cash Flow
Simply Wall St
€421.04
Fair Value
97.4% undervalued intrinsic discount
9
Number of Analysts

Below Fair Value: RXF (€10.89) is trading below our estimate of fair value (€421.04)

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

Key Valuation Metric

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

Key metric: As RXF 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 RXF. This is calculated by dividing RXF's market cap by their current book value.
What is RXF's PB Ratio?
PB Ratio18.8x
BookCA$90.40m
Market CapCA$1.77b

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for RXF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average0.6x
SZG Salzgitter
0.2x104.8%€1.0b
02P Pearl Gold
1xn/a€13.3m
TKA thyssenkrupp
0.3x108.2%€2.9b
STO3 Sto SE KGaA
1x3.5%€719.7m
RXF Skeena Resources
18.8x72.3%€1.8b

Price-To-Book vs Peers: RXF is expensive based on its Price-To-Book Ratio (18.8x) compared to the peer average (0.6x).

Price to Book Ratio vs Industry

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

21 CompaniesPrice / BookEstimated GrowthMarket Cap
RXF 18.8xIndustry Avg. 0.9xNo. of Companies28PB00.61.21.82.43+
21 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: RXF is expensive based on its Price-To-Book Ratio (18.8x) compared to the European Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is RXF'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.

RXF PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio18.8x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate RXF'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 RXF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.89
€12.24
+12.4%
13.0%€14.67€9.33n/a9
Jan ’26€8.81
€11.39
+29.4%
16.4%€14.69€8.01n/a11
Dec ’25€8.69
€11.12
+27.9%
14.5%€13.50€8.10n/a10
Nov ’25€8.85
€11.31
+27.9%
14.7%€13.40€8.04n/a11
Oct ’25€7.52
€11.11
+47.9%
14.1%€13.32€7.99n/a11
Sep ’25€6.77
€10.64
+57.3%
14.9%€13.23€7.94n/a11
Aug ’25€5.93
€10.69
+80.5%
15.8%€13.38€8.03n/a11
Jul ’25€4.84
€10.86
+124.1%
16.6%€13.65€8.19n/a10
Jun ’25€3.98
€11.01
+176.5%
11.0%€13.32€9.44n/a9
May ’25€4.61
€10.76
+133.5%
15.2%€13.48€7.30n/a10
Apr ’25€4.04
€10.63
+163.2%
15.6%€13.51€7.32n/a10
Mar ’25€3.36
€10.63
+216.5%
15.6%€13.51€7.32n/a10
Feb ’25€4.15
€10.61
+155.7%
15.5%€13.59€7.37€9.4810
Jan ’25€4.46
€10.36
+132.5%
14.6%€12.47€7.31€8.8110
Dec ’24€4.06
€10.07
+148.3%
15.1%€12.20€7.35€8.699
Nov ’24€3.36
€10.26
+205.8%
12.7%€11.81€7.57€8.859
Oct ’24€4.40
€10.37
+135.9%
11.4%€11.62€7.45€7.529
Sep ’24€4.52
€10.30
+128.0%
12.8%€11.67€7.48€6.779
Aug ’24€4.50
€10.30
+128.8%
12.8%€11.67€7.48€5.939
Jul ’24€4.15
€10.56
+154.6%
11.4%€11.41€7.54€4.849
Jun ’24€4.92
€10.70
+117.4%
8.9%€11.64€8.22€3.989
May ’24€6.04
€10.54
+74.5%
9.1%€11.37€8.02€4.619
Apr ’24€5.55
€10.77
+94.1%
9.8%€11.83€8.35€4.049
Mar ’24€4.82
€10.77
+123.5%
9.8%€11.83€8.35€3.369
Feb ’24€5.40
€10.58
+96.2%
11.6%€11.71€7.57€4.159
Analyst Price Target
Consensus Narrative from 9 Analysts
€12.64
Fair Value
13.8% undervalued intrinsic discount
9
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/06 02:02
End of Day Share Price 2025/02/06 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Skeena Resources Limited is covered by 18 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian QuastBMO Capital Markets Equity Research
Andrew MikitchookBMO Capital Markets Equity Research
Carey MacRuryCanaccord Genuity