Zanaga Iron Ore Company Limited

AIM:ZIOC Stock Report

Market Cap: UK£34.1m

Zanaga Iron Ore Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

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

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Below Future Cash Flow Value: Insufficient data to calculate ZIOC's future cash flow value for valuation analysis.

Significantly Below Future Cash Flow Value: Insufficient data to calculate ZIOC's future cash flow value for valuation analysis.

Key Valuation Metric

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

Key metric: As ZIOC 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 ZIOC. This is calculated by dividing ZIOC's market cap by their current book value.
What is ZIOC's PB Ratio?
PB Ratio0.5x
BookUS$90.03m
Market CapUS$45.05m

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for ZIOC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average5.7x
SML Strategic Minerals
21.1xn/aUK£113.3m
CGS Castings
1.1x10.28%UK£143.5m
FXPO Ferrexpo
0.3xn/aUK£168.1m
IRON Ironveld
0.2xn/aUK£4.4m
ZIOC Zanaga Iron Ore
0.5xn/aUK£34.1m

Price-To-Book vs Peers: ZIOC is good value based on its Price-To-Book Ratio (0.5x) compared to the peer average (5.7x).

Historical Price to Book Ratio

Historical Price to Book Ratio compares a stock's price to the book value of it's equity over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Book Ratio vs Industry

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

19 CompaniesPrice / BookEstimated GrowthMarket Cap
KMR Kenmare Resources
0.3x117.61%US$219.78m
POG Petropavlovsk
0.08x12.47%US$56.91m
GEMD Gem Diamonds
0.06xn/aUS$6.67m
BEM Beowulf Mining
0.2xn/aUS$5.98m
ZIOC 0.5xIndustry Avg. 1.5xNo. of Companies19PB01.22.43.64.86+
19 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ZIOC is good value based on its Price-To-Book Ratio (0.5x) compared to the UK Metals and Mining industry average (1.5x).

Price to Book Ratio vs Fair Ratio

What is ZIOC'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.

ZIOC PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ZIOC'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 ZIOC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.041
UK£0.13
+221.47%
14.50%UK£0.15UK£0.11n/a2
Jun ’27UK£0.042
UK£0.13
+214.90%
14.50%UK£0.15UK£0.11n/a2
May ’27UK£0.049
UK£0.13
+165.18%
14.50%UK£0.15UK£0.11n/a2
Apr ’27UK£0.052
UK£0.13
+150.00%
14.50%UK£0.15UK£0.11n/a2
UK£0.13
Fair Value
68.7% undervalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/25 17:26
End of Day Share Price 2026/06/25 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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

Zanaga Iron Ore Company Limited is covered by 4 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrey LitvinEdison Investment Research
Hunter HillcoatInvestec Bank plc (UK)
Duncan HayPanmure Liberum