Lundin Mining (FRA:GXD) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:GXD Lundin Mining Corp FRA:GXD
77 GF Score
Price €20.87
GF Value €12.81
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Lundin Mining Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lundin Mining  (FRA:GXD) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Lundin Mining Cyclically Adjusted PB Ratio Related Terms


Lundin Mining Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Lundin Mining's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Lundin Mining Cyclically Adjusted PB Ratio Chart

Lundin Mining Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.21 0.97 1.16 1.28 2.68

Lundin Mining Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.36 1.89 2.73 2.93 3.03

FRA:GXD vs SCCO, FCX: Cyclically Adjusted PB Ratio Comparison

For the Copper subindustry, Lundin Mining's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Lundin Mining Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Lundin Mining's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Lundin Mining's Cyclically Adjusted PB Ratio falls into.


FRA:GXD
77GF Score
Lundin Mining Corp FRA:GXD
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lundin Mining Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Lundin Mining's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Lundin Mining's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=8.483/133.5265*133.5265
=8.483

Current CPI (Jun. 2026) = 133.5265.

Lundin Mining Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.271 101.765 5.604
201612 4.743 101.449 6.243
201703 4.801 102.634 6.246
201706 4.612 103.029 5.977
201709 4.650 103.345 6.008
201712 4.746 103.345 6.132
201803 4.640 105.004 5.900
201806 4.903 105.557 6.202
201809 4.915 105.636 6.213
201812 5.001 105.399 6.336
201903 5.115 106.979 6.384
201906 5.027 107.690 6.233
201909 5.214 107.611 6.470
201912 5.214 107.769 6.460
202003 5.127 107.927 6.343
202006 5.079 108.401 6.256
202009 5.021 108.164 6.198
202012 4.993 108.559 6.141
202103 5.271 110.298 6.381
202106 5.480 111.720 6.550
202109 5.650 112.905 6.682
202112 5.973 113.774 7.010
202203 6.387 117.646 7.249
202206 6.648 120.806 7.348
202209 6.929 120.648 7.669
202212 6.595 120.964 7.280
202303 6.634 122.702 7.219
202306 6.599 124.203 7.094
202309 7.821 125.230 8.339
202312 7.510 125.072 8.018
202403 7.638 126.258 8.078
202406 7.793 127.522 8.160
202409 7.096 127.285 7.444
202412 6.881 127.364 7.214
202503 6.904 129.181 7.136
202506 6.852 129.892 7.044
202509 6.983 130.287 7.157
202512 7.919 130.366 8.111
202603 8.345 132.262 8.425
202606 8.483 133.527 8.483

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Lundin Mining (FRA:GXD) Overvalued in 2026?

Based on GuruFocus' analysis, Lundin Mining stock appears to be overvalued. The current stock price of €20.87 is trading 62.9% above its estimated GF Value™ of €12.81. GuruFocus considers Lundin Mining to be Significantly Overvalued.

Key valuation signals for FRA:GXD:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €12.81 vs. price of €20.87 (62.9% above fair value)
  • GF Score™: 77/100 with 3 warning signs

No single metric tells the full story. See the FRA:GXD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Lundin Mining Business Description

Address 1055 Dunsmuir Street, Suite 2800, Vancouver, BC, CAN, V7X 1L2
Lundin Mining Corp is adiversified Canadian base metals mining company primarily producing copper and gold with operations in Brazil, Chile, Portugal, Sweden, and the United States of America, producing copper, zinc, gold, and nickel. Its material mineral properties include Candelaria, Chapada, and Caserones. The majority of the revenue is from Copper.
77GF Score

Get the complete analysis for FRA:GXD

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€20.87
Price
€12.81
GF Value