Adriatic Metals Valuation

Is ADT1L 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 ADT1L when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ADT1L (£2.11) is trading below our estimate of fair value (£4.1)

Significantly Below Fair Value: ADT1L is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ADT1L?

Key metric: As ADT1L barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ADT1L. This is calculated by dividing ADT1L's market cap by their current book value.
What is ADT1L's PB Ratio?
PB Ratio	5.6x
Book	US$157.77m
Market Cap	US$879.76m

ADT1L 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	4097.4x
Enterprise Value/EBITDA	-30.2x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does ADT1L's PB Ratio compare to its peers?

The above table shows the PB ratio for ADT1L 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	0.8x
KMR Kenmare Resources	0.4x	4.3%	UK£310.5m
GFM Griffin Mining	1.2x	-3.8%	UK£256.6m
KP2 Kore Potash	0.8x	n/a	UK£131.3m
CAPD Capital	0.8x	11.0%	UK£166.8m
ADT1L Adriatic Metals	5.6x	50.6%	UK£1.4b

Price-To-Book vs Peers: ADT1L is expensive based on its Price-To-Book Ratio (5.6x) compared to the peer average (0.8x).

Price to Book Ratio vs Industry

How does ADT1L's PB Ratio compare vs other companies in the GB Metals and Mining Industry?

12 Companies	Price / Book	Estimated Growth	Market Cap
POG Petropavlovsk	0.08x	12.5%	US$56.91m
GEMD Gem Diamonds	0.1x	1.9%	US$19.91m
RMM Rambler Metals and Mining	0.05x	n/a	US$4.07m
RRR Red Rock Resources	0.1x	n/a	US$2.85m

12 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: ADT1L is expensive based on its Price-To-Book Ratio (5.6x) compared to the UK Metals and Mining industry average (1x).

Price to Book Ratio vs Fair Ratio

What is ADT1L'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.

ADT1L PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	5.6x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ADT1L'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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