Rio2 Limited

BVL:RIO Stock Report

Market Cap: US$200.1m

Rio2 Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: RIO ($0.34) is trading above our estimate of fair value ($0.19)

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

Key Valuation Metric

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

Key metric: As RIO 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 RIO. This is calculated by dividing RIO's market cap by their current book value.
What is RIO's PB Ratio?
PB Ratio2.5x
BookUS$78.58m
Market CapUS$200.10m

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for RIO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.4x
PODERC1 Compañía Minera Poderosa
3.7xn/aS/6.7b
MIRL Minera IRL
0.2xn/aUS$3.9m
SIDERC1 Empresa Siderúrgica del PerúA
1xn/aS/1.2b
MINCORI1 Sociedad Minera Corona
0.7xn/aS/435.9m
RIO Rio2
2.5x94.7%US$280.0m

Price-To-Book vs Peers: RIO is expensive based on its Price-To-Book Ratio (2.5x) compared to the peer average (1.4x).

Price to Book Ratio vs Industry

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

4 CompaniesPrice / BookEstimated GrowthMarket Cap
SPCCPI2 Southern Peru Copper Corporation - Sucursal del Peru
0.2xn/aUS$1.19b
IEQSAI1 Industrias Electro Químicas
0.1xn/aUS$5.24m
TV Trevali Mining
0.08xn/aUS$15.83m
MIRL Minera IRL
0.2xn/aUS$3.93m
No more companies available in this PB range
RIO 2.5xIndustry Avg. 0.8xNo. of Companies4PB00.81.62.43.24+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: RIO is expensive based on its Price-To-Book Ratio (2.5x) compared to the South American Metals and Mining industry average (0.8x).

Price to Book Ratio vs Fair Ratio

What is RIO'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.

RIO PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio2.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate RIO'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 RIO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$0.34
US$0.85
+150.4%
7.2%US$0.94US$0.79n/a3
Nov ’25US$0.34
US$0.85
+150.4%
7.2%US$0.94US$0.79n/a3
Oct ’25US$0.34
US$0.69
+103.2%
13.4%US$0.81US$0.59n/a3
Sep ’25US$0.34
US$0.61
+79.3%
24.7%US$0.80US$0.44n/a3
Aug ’25US$0.34
US$0.61
+79.3%
24.7%US$0.80US$0.44n/a3
Jul ’25US$0.34
US$0.61
+79.3%
24.7%US$0.80US$0.44n/a3
Jun ’25US$0.34
US$0.51
+50.7%
14.3%US$0.59US$0.44n/a2
May ’25US$0.34
US$0.51
+50.7%
14.3%US$0.59US$0.44n/a2
Apr ’25US$0.46
US$0.37
-18.9%
20.0%US$0.45US$0.30n/a2
Mar ’25US$0.46
US$0.37
-18.9%
20.0%US$0.45US$0.30n/a2
Feb ’25US$0.46
US$0.37
-18.9%
20.0%US$0.45US$0.30n/a2
Jan ’25US$0.46
US$0.32
-30.7%
41.2%US$0.45US$0.19n/a2
Jul ’24US$0.46
US$0.22
-51.4%
13.6%US$0.26US$0.19US$0.343
Jun ’24US$0.46
US$0.22
-52.0%
13.6%US$0.26US$0.18US$0.343
May ’24US$0.46
US$0.28
-40.2%
35.9%US$0.44US$0.18US$0.344
Apr ’24US$0.46
US$0.28
-38.8%
35.9%US$0.45US$0.19US$0.464
Mar ’24US$0.46
US$0.28
-38.8%
35.9%US$0.45US$0.19US$0.464
Feb ’24US$0.46
US$0.27
-41.1%
38.2%US$0.45US$0.19US$0.464
Jan ’24US$0.46
US$0.31
-33.3%
51.1%US$0.53US$0.11US$0.465
Dec ’23US$0.46
US$0.31
-33.3%
51.1%US$0.53US$0.11US$0.465
Nov ’23US$0.46
US$0.30
-33.9%
51.1%US$0.53US$0.11US$0.465

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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