Patagonia GoldHGLD +10.93%29 PB Ratio is 13.19 as of Jul. 03, 2026, which is 1288% above its 10-year median of 0.95. GuruFocus rates HGLD with a GF Score™ of 29/100 and a GF Value™ of $0.03 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 2,354 Metals & Mining companies, Patagonia Gold ranks worse than 91.93% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-03), Patagonia Gold's share price is $0.4353. Patagonia Gold's Book Value per Share for the quarter that ended in Mar. 2026 was $0.03. Hence, Patagonia Gold's PB Ratio of today is 13.19.
The historical rank and industry rank for Patagonia Gold's PB Ratio or its related term are showing as below:
HGLD'
s PB Ratio Range Over the Past 10 Years
Min: 0.19 Med: 0.95 Max: 20.67
Current: 13.11
During the past 13 years, Patagonia Gold's highest PB Ratio was 20.67. The lowest was 0.19. And the median was 0.95.
HGLD's PB Ratio is ranked worse than 91.93% of 2354
companies
in the Metals & Mining industry
Industry Median: 2.28
vs HGLD: 13.11
During the past 3 years, the average Book Value Per Share Growth Rate was 12.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Patagonia Gold was 612.40% per year. The lowest was -68.80% per year. And the median was -13.30% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Patagonia Gold PB Ratio Related Terms
Patagonia Gold PB Ratio Historical Data
* Premium members only.
The historical data trend for Patagonia Gold's 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.
For the Other Precious Metals & Mining subindustry, Patagonia Gold's PB Ratio, along with its competitors' market caps and 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.
Patagonia Gold PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Patagonia Gold's PB Ratio distribution charts can be found below:
* The bar in red indicates where Patagonia Gold's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Patagonia Gold's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Patagonia Gold (HGLD) has a PB Ratio of 13.19 as of Jul. 03, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Patagonia Gold and its competitors. This is 1288% above median its historical median of 0.95. Over the past decade, Patagonia Gold's PB Ratio has ranged from 0.19 to 20.67. According to the industry distribution chart, Patagonia Gold ranks #2164 out of 2354 companies in the Metals & Mining industry, placing it in the top 91.9%.
Is Patagonia Gold's PB Ratio too high?
Patagonia Gold's current PB Ratio of 13.19 is 1288% above median its 10-year median of 0.95. Over the past 10 years, this metric has ranged from a low of 0.19 to a high of 20.67. The Metals & Mining industry median PB Ratio is 2.28. Patagonia Gold's value of 13.19 is 478.5% above this industry median. Based on the distribution chart, Patagonia Gold ranks #2164 out of 2354 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Patagonia Gold has a GF Score™ of 29/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Patagonia Gold's PB Ratio compare to HL?
According to the Metals & Mining industry distribution chart, Patagonia Gold ranks #2164 out of 2354 companies for PB Ratio. This places Patagonia Gold in the lower half of its industry. The industry median PB Ratio is 2.28. Patagonia Gold's value of 13.19 is 478.5% above this benchmark. Historically, Patagonia Gold's own PB Ratio has ranged from 0.19 to 20.67 over the past decade. While the company's 10-year median is 0.95 vs. the industry median of 2.28, Patagonia Gold has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Metals & Mining company?
The median PB Ratio among Metals & Mining companies is 2.28, based on 2,354 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Patagonia Gold's current PB Ratio of 13.19 is 478.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Patagonia Gold and its competitors. For the Metals & Mining industry, the median PB Ratio is 2.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Patagonia Gold's current PB Ratio is 13.19, which is 1288% above median its own 10-year median of 0.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Patagonia Gold stock overvalued right now?
Based on GuruFocus' analysis, Patagonia Gold (HGLD) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.03, compared to a current price of $0.44 — trading 1351% above its estimated fair value. The current PB Ratio is 13.19, which is 1288% above median its 10-year median of 0.95 and 478.5% above the Metals & Mining industry median of 2.28. Patagonia Gold's overall GF Score™ is 29/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Patagonia Gold (HGLD), the current PB Ratio is 13.19 as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Patagonia Gold (HGLD) Overvalued in 2026?
Based on GuruFocus' analysis, Patagonia Gold stock appears to be overvalued.
The current stock price of $0.44 is trading 1351% above its estimated GF Value™ of $0.03.
GuruFocus considers Patagonia Gold to be Significantly Overvalued.
Key valuation signals for HGLD:
PB Ratio: 13.19 (1288% above median its 10-year median of 0.95)
GF Value™: $0.03 vs. price of $0.44 (1351% above fair value)
Industry Position: 478.5% above the Metals & Mining median (#2164 of 2354)
No single metric tells the full story. See the HGLD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Patagonia Gold Corp is a Canada-based mineral exploration company. The firm is engaged in the exploration, development, and production of gold and silver projects in the southern Patagonia region of Argentina and Chile. It also holds interests in mineral exploration companies, which are involved in the identification, acquisition, development, and exploitation of mineral projects. Some of its projects include the Calcatreu, Cap-Oeste, El Tranquilo, La Josefina, La Manchuria and others.
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