BSE

Base ResourcesASX:BSE Stock Report

Market Cap

AU$325.0m

7D

-12.7%

1Y

-6.8%

Updated

16 Sep, 2021

Data

Company Financials +
BSE fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends2/6

BSE Overview

Base Resources Limited develops, produces, and sells mineral sands in Africa.

Base Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Base Resources
Historical stock prices
Current Share PriceAU$0.28
52 Week HighAU$0.23
52 Week LowAU$0.34
Beta1.25
1 Month Change-4.35%
3 Month Change-8.33%
1 Year Change-6.78%
3 Year Change14.58%
5 Year Change89.66%
Change since IPO37.50%

Recent News & Updates

Mar 09
Base Resources (ASX:BSE) Seems To Use Debt Quite Sensibly

Base Resources (ASX:BSE) Seems To Use Debt Quite Sensibly

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

BSEAU Metals and MiningAU Market
7D-12.7%1.8%0.9%
1Y-6.8%16.1%27.3%

Return vs Industry: BSE underperformed the Australian Metals and Mining industry which returned 16.1% over the past year.

Return vs Market: BSE underperformed the Australian Market which returned 27.3% over the past year.

Price Volatility

Is BSE's price volatile compared to industry and market?
BSE volatility
BSE Beta1.25
Industry Beta0.93
Market Beta1

Stable Share Price: BSE is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: BSE's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2007n/aTim Carstenshttps://www.baseresources.com.au

Base Resources Limited develops, produces, and sells mineral sands in Africa. The company produces mineral sands, such as rutile, ilmenite, and zircon. It primarily owns a 100% interest in the Kwale Mineral Sands project located in Kenya; and develops the Toliara project located in Madagascar.

Base Resources Fundamentals Summary

How do Base Resources's earnings and revenue compare to its market cap?
BSE fundamental statistics
Market CapUS$238.08m
Earnings (TTM)US$10.98m
Revenue (TTM)US$198.24m

21.3x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BSE income statement (TTM)
RevenueUS$198.24m
Cost of RevenueUS$139.31m
Gross ProfitUS$58.93m
ExpensesUS$47.94m
EarningsUS$10.98m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.0093
Gross Margin29.72%
Net Profit Margin5.54%
Debt/Equity Ratio0%

How did BSE perform over the long term?

See historical performance and comparison

Dividends

29.0%

Current Dividend Yield

562%

Payout Ratio

Valuation

Is Base Resources undervalued compared to its fair value and its price relative to the market?

21.3x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BSE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BSE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BSE is poor value based on its PE Ratio (21.3x) compared to the Australian Metals and Mining industry average (12.1x).

PE vs Market: BSE is poor value based on its PE Ratio (21.3x) compared to the Australian market (18.7x).


Price to Earnings Growth Ratio

PEG Ratio: BSE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BSE is good value based on its PB Ratio (0.7x) compared to the AU Metals and Mining industry average (2.8x).


Future Growth

How is Base Resources forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-5.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BSE's earnings are forecast to decline over the next 3 years (-5.5% per year).

Earnings vs Market: BSE's earnings are forecast to decline over the next 3 years (-5.5% per year).

High Growth Earnings: BSE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BSE's revenue is expected to decline over the next 3 years (-11.4% per year).

High Growth Revenue: BSE's revenue is forecast to decline over the next 3 years (-11.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BSE's Return on Equity is forecast to be low in 3 years time (3%).


Past Performance

How has Base Resources performed over the past 5 years?

23.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BSE has high quality earnings.

Growing Profit Margin: BSE's current net profit margins (5.5%) are lower than last year (19%).


Past Earnings Growth Analysis

Earnings Trend: BSE has become profitable over the past 5 years, growing earnings by 23.4% per year.

Accelerating Growth: BSE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BSE had negative earnings growth (-72.3%) over the past year, making it difficult to compare to the Metals and Mining industry average (43.2%).


Return on Equity

High ROE: BSE's Return on Equity (3.4%) is considered low.


Financial Health

How is Base Resources's financial position?


Financial Position Analysis

Short Term Liabilities: BSE's short term assets ($154.1M) exceed its short term liabilities ($67.3M).

Long Term Liabilities: BSE's short term assets ($154.1M) exceed its long term liabilities ($29.7M).


Debt to Equity History and Analysis

Debt Level: BSE is debt free.

Reducing Debt: BSE has no debt compared to 5 years ago when its debt to equity ratio was 118.3%.

Debt Coverage: BSE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BSE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Base Resources's current dividend yield, its reliability and sustainability?

29.01%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BSE's dividend (29.01%) is higher than the bottom 25% of dividend payers in the Australian market (2.33%).

High Dividend: BSE's dividend (29.01%) is in the top 25% of dividend payers in the Australian market (5.26%)


Stability and Growth of Payments

Stable Dividend: Too early to tell whether BSE's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if BSE's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (561.5%), BSE's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.3yrs

Average management tenure


CEO

Tim Carstens

13.33yrs

Tenure

US$1,048,912

Compensation

Mr. Timothy James Carstens, also known as Tom, BCom, ACA, serves as Managing Director of Base Resources Limited since the Company’s inception in May 2008. Mr. Carstens has a diverse and substantial skill,...


CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD1.05M) is above average for companies of similar size in the Australian market ($USD516.53K).

Compensation vs Earnings: Tim's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: BSE's management team is seasoned and experienced (9.3 years average tenure).


Board Members

Experienced Board: BSE's board of directors are considered experienced (6.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Base Resources Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Base Resources Limited
  • Ticker: BSE
  • Exchange: ASX
  • Founded: 2007
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Market Cap: AU$324.959m
  • Shares outstanding: 1.16b
  • Website: https://www.baseresources.com.au

Location

  • Base Resources Limited
  • 46 Colin Street
  • Level 3
  • West Perth
  • Western Australia
  • 6005
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/16 08:04
End of Day Share Price2021/09/16 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.