Metalla Royalty & Streaming Ltd.

DB:X9C Stock Report

Market Cap: €247.0m

Metalla Royalty & Streaming Valuation

Is X9C 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 X9C when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: X9C (€2.86) is trading above our estimate of fair value (€1.66)

Significantly Below Fair Value: X9C is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for X9C?

Key metric: As X9C barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for X9C. This is calculated by dividing X9C's market cap by their current book value.
What is X9C's PB Ratio?
PB Ratio1x
BookUS$252.24m
Market CapUS$260.08m

Price to Book Ratio vs Peers

How does X9C's PB Ratio compare to its peers?

The above table shows the PB ratio for X9C vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1x
EIS Eisen- und Hüttenwerke
2.1xn/a€200.6m
UZU Uzin Utz
0.9x2.1%€244.1m
SIM0 SIMONA
0.9xn/a€342.0m
SZG Salzgitter
0.2x93.9%€968.2m
X9C Metalla Royalty & Streaming
1x63.4%€366.4m

Price-To-Book vs Peers: X9C is good value based on its Price-To-Book Ratio (1x) compared to the peer average (1x).

Price to Book Ratio vs Industry

How does X9C's PB Ratio compare vs other companies in the European Metals and Mining Industry?

22 CompaniesPrice / BookEstimated GrowthMarket Cap
X9C 1.0xIndustry Avg. 0.9xNo. of Companies26PB00.61.21.82.43+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: X9C is expensive based on its Price-To-Book Ratio (1x) compared to the European Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is X9C'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.

X9C PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate X9C'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 X9C forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.86
€5.20
+82.0%
14.8%€6.57€4.38n/a5
Nov ’25€3.18
€5.10
+60.8%
14.8%€6.45€4.30n/a5
Oct ’25€2.72
€5.16
+89.8%
11.3%€6.14€4.65n/a4
Sep ’25€2.65
€5.27
+99.3%
12.0%€6.13€4.64n/a3
Aug ’25€2.71
€5.32
+96.2%
12.0%€6.19€4.68n/a3
Jul ’25€2.52
€5.35
+112.7%
12.0%€6.22€4.71n/a3
Jun ’25€2.97
€5.37
+80.7%
12.0%€6.24€4.73n/a3
May ’25€2.90
€5.48
+89.0%
12.5%€6.17€4.80n/a2
Apr ’25€2.89
€5.49
+89.9%
12.5%€6.17€4.80n/a2
Nov ’24€2.62
€5.90
+125.5%
33.1%€7.58€2.58€3.184
Oct ’24€2.97
€5.88
+98.2%
32.3%€7.31€2.61€2.724
Sep ’24€3.86
€6.95
+80.1%
4.1%€7.21€6.52€2.654
Aug ’24€4.17
€6.95
+66.9%
4.1%€7.21€6.52€2.714
Jul ’24€3.89
€7.08
+82.0%
4.1%€7.34€6.64€2.524
Jun ’24€3.97
€6.96
+75.4%
3.2%€7.17€6.66€2.974
May ’24€4.55
€7.06
+55.4%
7.3%€7.91€6.56€2.904
Apr ’24€5.10
€7.13
+39.7%
11.2%€8.48€6.45€2.894
Mar ’24€4.18
€7.29
+74.4%
11.2%€8.68€6.59€2.194
Feb ’24€4.49
€7.11
+58.5%
12.5%€8.56€6.17€2.574
Jan ’24€4.56
€7.45
+63.5%
11.1%€8.96€6.45€2.735
Dec ’23€5.23
€7.45
+42.5%
11.1%€8.96€6.45€2.915
Nov ’23€4.62
€7.88
+70.7%
27.6%€11.15€4.83€2.625

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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