Trilogy Metals Inc.

NYSEAM:TMQ Stock Report

Market Cap: US$200.8m

Trilogy Metals Valuation

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

Below Fair Value: Insufficient data to calculate TMQ's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TMQ's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As TMQ 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 TMQ. This is calculated by dividing TMQ's market cap by their current book value.
What is TMQ's PB Ratio?
PB Ratio1.5x
BookUS$133.82m
Market CapUS$200.83m

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for TMQ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average16.9x
REEM.F Rare Element Resources
6.7xn/aUS$188.4m
IDR Idaho Strategic Resources
4.9x30.3%US$158.5m
USGO U.S. GoldMining
12.9xn/aUS$160.2m
EUBG Entrepreneur Universe Bright Group
42.9xn/aUS$362.2m
TMQ Trilogy Metals
1.5xn/aUS$281.7m

Price-To-Book vs Peers: TMQ is good value based on its Price-To-Book Ratio (1.5x) compared to the peer average (16.9x).

Price to Book Ratio vs Industry

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

8 CompaniesPrice / BookEstimated GrowthMarket Cap
NEVD.Q Nevada Copper
0.1xn/aUS$26.02m
VITF.F Victoria Gold
0.06xn/aUS$23.43m
BMXI Brookmount Explorations
0.1xn/aUS$6.20m
LITM Snow Lake Resources
0.2xn/aUS$3.58m
TMQ 1.5xIndustry Avg. 1.8xNo. of Companies14PB012345+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: TMQ is good value based on its Price-To-Book Ratio (1.5x) compared to the US Metals and Mining industry average (1.7x).

Price to Book Ratio vs Fair Ratio

What is TMQ'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.

TMQ PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate TMQ'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 TMQ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.21
US$1.09
-9.8%
38.2%US$1.62US$0.54n/a5
Nov ’25US$0.64
US$0.79
+24.0%
45.9%US$1.50US$0.54n/a5
Oct ’25US$0.49
US$0.79
+61.6%
45.5%US$1.50US$0.55n/a5
Sep ’25US$0.54
US$0.79
+46.3%
45.5%US$1.50US$0.55n/a5
Aug ’25US$0.65
US$0.79
+21.4%
45.5%US$1.50US$0.55n/a5
Jul ’25US$0.51
US$0.79
+53.9%
45.7%US$1.50US$0.55n/a5
Jun ’25US$0.50
US$0.79
+56.8%
45.7%US$1.50US$0.55n/a5
May ’25US$0.40
US$0.79
+94.9%
45.7%US$1.50US$0.55n/a5
Apr ’25US$0.51
US$1.06
+107.8%
37.1%US$1.50US$0.56n/a5
Mar ’25US$0.44
US$1.06
+140.7%
36.8%US$1.50US$0.56n/a5
Feb ’25US$0.53
US$1.06
+100.7%
36.7%US$1.50US$0.56n/a5
Jan ’25US$0.43
US$1.04
+142.2%
32.2%US$1.50US$0.73n/a6
Dec ’24US$0.44
US$1.04
+138.8%
32.2%US$1.50US$0.73n/a6
Nov ’24US$0.43
US$1.08
+149.9%
29.3%US$1.50US$0.73US$0.647
Oct ’24US$0.49
US$1.12
+128.1%
29.7%US$1.50US$0.74US$0.497
Sep ’24US$0.49
US$1.13
+129.8%
29.7%US$1.52US$0.74US$0.547
Aug ’24US$0.53
US$1.13
+114.5%
29.7%US$1.52US$0.74US$0.657
Jul ’24US$0.59
US$1.12
+88.4%
29.6%US$1.50US$0.74US$0.517
Jun ’24US$0.50
US$1.11
+120.2%
29.6%US$1.50US$0.74US$0.507
May ’24US$0.56
US$1.18
+110.5%
31.4%US$1.67US$0.74US$0.407
Apr ’24US$0.53
US$1.18
+120.8%
31.2%US$1.66US$0.74US$0.517
Mar ’24US$0.56
US$1.18
+111.4%
31.2%US$1.66US$0.74US$0.447
Feb ’24US$0.65
US$1.56
+139.2%
52.7%US$3.00US$0.75US$0.537
Jan ’24US$0.55
US$1.61
+191.8%
48.4%US$3.00US$0.73US$0.437
Dec ’23US$0.58
US$1.62
+181.9%
46.8%US$3.00US$0.84US$0.447
Nov ’23US$0.58
US$1.63
+180.6%
46.6%US$3.00US$0.84US$0.437

Analyst Forecast: Target price is lower than the current share price.

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