Xtract Resources Valuation

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

XTR (£0.01) is trading below our estimate of [[fair value]] (£0.24)

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: XTR (£0.01) is trading below our estimate of fair value (£0.24)

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

Key Valuation Metric

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

Key metric: As XTR 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 XTR. This is calculated by dividing XTR's market cap by their current book value.
What is XTR's PB Ratio?
PB Ratio	0.3x
Book	UK£19.63m
Market Cap	UK£5.14m

XTR 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	-8x
Enterprise Value/EBITDA	-2x
PEG Ratio	n/a

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for XTR 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	0.9x
BMV Bluebird Mining Ventures	0.3x	n/a	UK£4.8m
BWAP BWA Group	1.3x	n/a	UK£3.8m
PRIM Primorus Investments	1x	n/a	UK£5.6m
ECR ECR Minerals	1.2x	n/a	UK£6.0m
XTR Xtract Resources	0.3x	n/a	UK£5.1m

Price-To-Book vs Peers: XTR is good value based on its Price-To-Book Ratio (0.3x) compared to the peer average (0.9x).

Price to Book Ratio vs Industry

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

13 Companies	Price / Book	Estimated Growth	Market Cap
POG Petropavlovsk	0.08x	12.5%	US$56.91m
GEMD Gem Diamonds	0.1x	1.9%	US$18.53m
HUM Hummingbird Resources	0.1x	n/a	US$13.98m
RMM Rambler Metals and Mining	0.05x	n/a	US$4.07m

13 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: XTR is good value based on its Price-To-Book Ratio (0.3x) compared to the UK Metals and Mining industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is XTR'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.

XTR PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	0.3x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate XTR'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?

Analyst Forecast: Insufficient data to show price forecast.

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