Canadian Stocks with the Highest Price to Book



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Stocks with lowest PB

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The Price to Book Ratio (or P/B) can be a very important metric in determining the value of a company.

While a high PB ratio doesn't mean for certain that a company is overvalued, it can mean so and it can certainly decrease your margin of safety in the investment. If a company has a high PB ratio, and it is liquidated today, you, as an investor, are not going to see much of your money back.

Below we have listed the roughly 150 top Canadian companies in terms of price to book ratio (by filtering those with a ratio higher than 5). Some industries have a higher than average PB ratio and there are sector related considerations that you should always consider when examining the PB ratio. For instance, the tech sector generally has higher ratios than consumer goods. If you are considering going long any of the below equities, be careful as they have poor book value.

Sub1

Company Ticker P/B Ratio
01 Communique Laboratory  ONE-T  197.78
Boliden AB  BLS-T  140.71
Intrepid Mines  IAU-T  111.25
Forbes and Manhattan Coal  FMC-T  93.02
Primero Mining Corp.  P-T  91.49
General Donlee Canada  GDI-T  75.56
Novadaq Technologies  NDQ-T  27.46
Continental Gold Limited  CNL-T  26.54
Golden Queen Mining Co.  GQM-T  25.4
United Mining Group, Inc.  UMG-T  22.77
Peregrine Diamonds  PGD-T  20.92
Oncolytics Biotech  ONC-T  20.29
Tanzanian Royalty Exploration  TNX-T  20.27
The Brick Ltd.  BRK-T  19.87
Rockgate Capital  RGT-T  19.14
Electrovaya Inc.  EFL-T  19.08
Burcon NutraScience  BU-T  18.53
Petrominerales Ltd.  PMG-T  18.12
IMAX Corp.  IMX-T  18.05
Call Genie Inc.  GNE-T  17.5
FirstService Corp.  FSV-T  17.45
Ondine Biopharma  OBP-T  17
Extract Resources  EXT-T  16.76
Rutter Inc.  RUT-T  16.67
Minco Gold  MMM-T  16.21
Western Areas NL  WSA-T  16.14
Sprott Inc.  SII-T  15.32
Norsemont Mining  NOM-T  14.97
Medicago  MDG-T  14.72
Computer Modelling Group  CMG-T  14.3
Avalon Rare Metals  AVL-T  13.22
Auryx Gold  AYX-T  13.17
Ventana Gold  VEN-T  13.12
Canada Lithium  CLQ-T  13.04
Golden Peaks Resources  GL-T  12.8
China Gold Intl. Resources  CGG-T  12.35
Cardiome Pharma  COM-T  11.79
Protox Therapeutics  PRX-T  11.5
Canadian Satellite Radio  XSR-T  11.09
Exeter Resource Corp.  XRC-T  11.08
Waldron Energy Corporation  WDN-T  10.88
Tudor Corp.  TDR-T  10.75
Theratechnologies  TH-T  10.6
Great Panther Silver  GPR-T  9.75
WaterFurnace Renewable Energy  WFI.U-T  9.61
Gluskin Sheff + Associates Inc  GS-T  9.55
Tekmira Pharmaceuticals  TKM-T  9.46
Resverlogix Corp.  RVX-T  9.44
Domtar Canada Paper  UFX-T  9.35
Polar Star Mining  PSR-T  9.3
AEterna Zentaris  AEZ-T  9.28
San Gold Corporation  SGR-T  9.19
Northern Dynasty Minerals  NDM-T  9.08
Gold Reserve  GRZ-T  9.05
Pacific Rim Mining  PMU-T  9
NovaGold Resources  NG-T  8.94
Intellipharmaceutics Intl. (D)  I-T  8.79
Romarco Minerals  R-T  8.68
WaterFurnace Renewable Energy  WFI-T  8.67
Westport Innovations  WPT-T  8.55
Excellon Res Inc  EXN-T  8.54
Far West Mining  FWM-T  8.52
Helix BioPharma  HBP-T  8.48
Almaden Minerals Ltd.  AMM-T  8.4
South American Silver  SAC-T  8.25
Cline Mining Corp  CMK-T  8.18
MDC Partners  MDZ.A-T  8.06
Crosshair Exploration & Mining  CXX-T  8.04
Constellation Software  CSU-T  7.91
Bonterra Energy Corp.  BNE-T  7.84
Champion Minerals  CHM-T  7.79
Anatolia Minerals Dev Ltd  ANO-T  7.76
Duluth Metals  DM-T  7.74
Duluth Metals  DM.U-T  7.57
Seabridge Gold  SEA-T  7.46
Silvercorp Metals  SVM-T  7.4
Minco Silver  MSV-T  7.4
Points International  PTS-T  7.2
Intl Tower Hill Mines  ITH-T  7.18
Pediment Gold  PEZ-T  7.13
Avion Gold  AVR-T  6.73
Amorfix Life Sciences  AMF-T  6.71
Nevada Copper  NCU-T  6.7
Farallon Mining  FAN-T  6.58
Nevsun Resources  NSU-T  6.49
ECU Silver Mining  ECU-T  6.4
Semafo Inc.  SMF-T  6.22
Kirkland Lake Gold  KGI-T  6.08
Potash Corp. of Saskatchewan  POT-T  6.03
BioExx Specialty Proteins Ltd.  BXI-T  6
Peregrine Metals Ltd.  PGM-T  6
MKS Inc.  MKX-T  5.92
Bankers Petroleum  BNK-T  5.83
Lithium Americas Corp.  LAC-T  5.81
Silver Wheaton  SLW-T  5.74
IMRIS Inc.  IM-T  5.74
Lexam VG Gold Inc.  LEX-T  5.67
BMTC Group  GBT.A-T  5.66
Tim Hortons  THI-T  5.65
Medoro Resources Ltd.  MRS-T  5.59
SNC-Lavalin Group  SNC-T  5.58
NeuLion  NLN-T  5.56
Mines Management  MGT-T  5.55
Mountain Province Diamonds  MPV-T  5.46
Brigus Gold  BRD-T  5.45
Tiger Resources  TGS-T  5.45
Molson Coors Canada  TPX.A-T  5.32
Heritage Oil  HOC-T  5.31
Garda World Security Corp  GW-T  5.31
Guyana Goldfields Inc  GUY-T  5.3
Entree Gold  ETG-T  5.29
Mawson Resources  MAW-T  5.28
Azure Dynamics  AZD-T  5.25
Exall Energy  EE-T  5.24
Mad Catz Interactive  MCZ-T  5.23
Molson Coors Canada  TPX.B-T  5.23
Etrion  ETX-T  5.21
First Majestic Silver  FR-T  5.14
Baytex Energy Corp.  BTE-T  5.13
Fiera Sceptre Inc.  FSZ-T  5.12
Swisher Hygiene Inc.  SWI-T  5.09
Colossus Minerals  CSI-T  5.09
Rubicon Minerals  RMX-T  5.08
MAG Silver Corp.  MAG-T  5.08
St Andrew Goldfields  SAS-T  5.04

Another ratio you should consider is price-to-tangible book value. This factors out any non physical asset in the calculation. It is often useful in determining the true liquidation value of the company. If you are considering shorting a company because it has high, PB ratio, be careful a high ratio can always march higher and overvalued companies can always become more overvalued.

List current as of Jan 2011