29MetalsASX:29M -5.77%35 PB Ratio is 0.82 as of Jun. 26, 2026, which is 5% below its 10-year median of 0.86. GuruFocus rates ASX:29M with a GF Score™ of 35/100 and a GF Value™ of A$0.19 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 2,358 Metals & Mining companies, 29Metals ranks better than 82.78% 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 (2026-06-26), 29Metals's share price is A$0.245. 29Metals's Book Value per Share for the quarter that ended in Dec. 2025 was A$0.30. Hence, 29Metals's PB Ratio of today is 0.82.
The historical rank and industry rank for 29Metals's PB Ratio or its related term are showing as below:
ASX:29M'
s PB Ratio Range Over the Past 10 Years
Min: 0.31 Med: 0.86 Max: 1.97
Current: 0.82
During the past 6 years, 29Metals's highest PB Ratio was 1.97. The lowest was 0.31. And the median was 0.86.
ASX:29M's PB Ratio is ranked better than 82.78% of 2358
companies
in the Metals & Mining industry
Industry Median: 2.25
vs ASX:29M: 0.82
During the past 12 months, 29Metals's average Book Value Per Share Growth Rate was 6.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -36.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -29.70% per year.
During the past 6 years, the highest 3-Year average Book Value Per Share Growth Rate of 29Metals was -25.50% per year. The lowest was -39.60% per year. And the median was -36.80% 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.
29Metals PB Ratio Related Terms
29Metals PB Ratio Historical Data
* Premium members only.
The historical data trend for 29Metals'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, 29Metals'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.
29Metals PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, 29Metals's PB Ratio distribution charts can be found below:
* The bar in red indicates where 29Metals'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.
29Metals'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.
29Metals (ASX:29M) has a PB Ratio of 0.82 as of Jun. 26, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on 29Metals and its competitors. This is near median its historical median of 0.86. Over the past decade, 29Metals' PB Ratio has ranged from 0.31 to 1.97. According to the industry distribution chart, 29Metals ranks #406 out of 2358 companies in the Metals & Mining industry, placing it in the top 17.2%.
Is 29Metals' PB Ratio too high?
29Metals' current PB Ratio of 0.82 is near median its 10-year median of 0.86. Over the past 10 years, this metric has ranged from a low of 0.31 to a high of 1.97. The Metals & Mining industry median PB Ratio is 2.25. 29Metals' value of 0.82 is 63.6% below this industry median. Based on the distribution chart, 29Metals ranks #406 out of 2358 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, 29Metals has a GF Score™ of 35/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does 29Metals' PB Ratio compare to HL?
According to the Metals & Mining industry distribution chart, 29Metals ranks #406 out of 2358 companies for PB Ratio. This places 29Metals in the top 17% of its industry — outperforming the majority of peers. The industry median PB Ratio is 2.25. 29Metals' value of 0.82 is 63.6% below this benchmark. Historically, 29Metals' own PB Ratio has ranged from 0.31 to 1.97 over the past decade. While the company's 10-year median is 0.86 vs. the industry median of 2.25, 29Metals has consistently been below 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 2.25, based on 2,358 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. 29Metals's current PB Ratio of 0.82 is 63.6% below 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 29Metals and its competitors. For the Metals & Mining industry, the median PB Ratio is 2.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. 29Metals's current PB Ratio is 0.82, which is near median its own 10-year median of 0.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is 29Metals stock overvalued right now?
Based on GuruFocus' analysis, 29Metals (ASX:29M) is currently considered Modestly Overvalued. The stock's GF Value™ is A$0.19, compared to a current price of A$0.25 — trading 28.9% above its estimated fair value. The current PB Ratio is 0.82, which is near median its 10-year median of 0.86 and 63.6% below the Metals & Mining industry median of 2.25. 29Metals' overall GF Score™ is 35/100 with 6 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 29Metals (ASX:29M), the current PB Ratio is 0.82 as of Jun. 26, 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 29Metals (ASX:29M) Overvalued in 2026?
Based on GuruFocus' analysis, 29Metals stock appears to be overvalued.
The current stock price of A$0.25 is trading 28.9% above its estimated GF Value™ of A$0.19.
GuruFocus considers 29Metals to be Modestly Overvalued.
Key valuation signals for ASX:29M:
PB Ratio: 0.82 (near median its 10-year median of 0.86)
GF Value™: A$0.19 vs. price of A$0.25 (28.9% above fair value)
Industry Position: 63.6% below the Metals & Mining median (#406 of 2358)
No single metric tells the full story. See the ASX:29M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
29Metals Ltd is a copper-focused base and precious metals mining company. It has two long-life, producing assets: Golden Grove in Western Australia (copper, zinc, gold, and silver) and Capricorn Copper in Queensland (copper and silver). The group has three reportable segments which are Golden Grove, Capricorn Copper, and Exploration (which includes Redhill and regional exploration activities at Golden Grove and Capricorn Copper), and the majority of company's revenue is generated from golden grove.
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