You need to account for the shares on issue (SOI). As at 5:00pm today, per the ASX, the market capitalisation (MC) and SOI, respectively, are as follows:
KDR: $765.07M / 404.8M = sp of $1.89. If KDR had the same no. of SOI as PLS, then its sp becomes $765.07 / 1.85B = 41c.
PLS: $907.2M / 1.85B = sp of 50c. If PLS had the same no. of SOI as KDR, then its sp becomes $907.2 / 404.87M = $2.24.
It appears that KDR BOD has conceded KDR's MC at $1.90 x 404.8M = $769.1M. But PLS' sp is expected to rise on finalisation of the POSCO JV and the partnering arrangement.
Using the brokers' indicative TP of $1.60 pre-Morgan Stanley-Macquarie lithium oversupply saga, PLS' MC is expected to rise to $1.60 x 1.85B = $2.96B. This value is 2.96B / 769.1M = 3.85x that of KDR.
I would reckon that you have undervalued PLS in your comparison to KDR. All the best.
PLS vs KDR, page-284
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Last
$2.83 |
Change
0.090(3.28%) |
Mkt cap ! $8.522B | |||
| Open | High | Low | Value | Volume |
| $2.75 | $2.83 | $2.72 | $39.65M | 14.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1106 | $2.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.83 | 211057 | 8 |
View Market Depth
| Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
| PLS (ASX) Chart |