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IMA

Image Resources ASX:IMA Stock Report

Last Price

AU$0.18

Market Cap

AU$198.2m

7D

0%

1Y

-2.6%

Updated

04 Jul, 2022

Data

Company Financials
IMA fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends3/6

IMA Stock Overview

Image Resources NL operates as a mineral sands mining company in Western Australia.

Image Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Image Resources
Historical stock prices
Current Share PriceAU$0.18
52 Week HighAU$0.30
52 Week LowAU$0.16
Beta0.89
1 Month Change-9.76%
3 Month Change-24.49%
1 Year Change-2.63%
3 Year Change-32.73%
5 Year Change85.00%
Change since IPO8.82%

Recent News & Updates

Jun 16
Returns At Image Resources (ASX:IMA) Are On The Way Up

Returns At Image Resources (ASX:IMA) Are On The Way Up

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...

Shareholder Returns

IMAAU Metals and MiningAU Market
7D0%-3.7%-2.4%
1Y-2.6%-15.5%-12.0%

Return vs Industry: IMA exceeded the Australian Metals and Mining industry which returned -15.3% over the past year.

Return vs Market: IMA exceeded the Australian Market which returned -12.2% over the past year.

Price Volatility

Is IMA's price volatile compared to industry and market?
IMA volatility
IMA Average Weekly Movement6.2%
Metals and Mining Industry Average Movement11.6%
Market Average Movement9.9%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.4%

Stable Share Price: IMA is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: IMA's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1994n/aPatrick Mutzhttps://www.imageres.com.au

Image Resources NL operates as a mineral sands mining company in Western Australia. The company holds 100% interests in the Boonanarring and Atlas Mineral Sands Project, which are in North Perth Basin in Western Australia. It also holds 100% interests in the Hyperion and Helene projects located to the north of Atlas; the Bidaminna project located to the north of Perth; two gold tenements and King Gold prospect Farmin tenement located southeast of Kalgoorlie; and the McCalls and Mindarra Springs projects located to the north of Perth.

Image Resources Fundamentals Summary

How do Image Resources's earnings and revenue compare to its market cap?
IMA fundamental statistics
Market CapAU$198.18m
Earnings (TTM)AU$19.38m
Revenue (TTM)AU$178.85m

10.2x

P/E Ratio

1.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IMA income statement (TTM)
RevenueAU$178.85m
Cost of RevenueAU$123.09m
Gross ProfitAU$55.76m
Other ExpensesAU$36.38m
EarningsAU$19.38m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.018
Gross Margin31.18%
Net Profit Margin10.84%
Debt/Equity Ratio0%

How did IMA perform over the long term?

See historical performance and comparison

Dividends

10.8%

Current Dividend Yield

103%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is IMA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IMA?

Other financial metrics that can be useful for relative valuation.

IMA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.7x
Enterprise Value/EBITDA1.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does IMA's PE Ratio compare to its peers?

IMA PE Ratio vs Peers
The above table shows the PE ratio for IMA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average23.2x
MLD MACA
7.4x18.4%AU$230.7m
GNG GR Engineering Services
10.9xn/aAU$320.0m
CII CI Resources
21xn/aAU$152.6m
CEL Challenger Exploration
53.6xn/aAU$189.9m
IMA Image Resources
10.2xn/aAU$198.2m

Price-To-Earnings vs Peers: IMA is good value based on its Price-To-Earnings Ratio (10.2x) compared to the peer average (23.2x).


Price to Earnings Ratio vs Industry

How does IMA's PE Ratio compare vs other companies in the AU Metals and Mining Industry?

Price-To-Earnings vs Industry: IMA is expensive based on its Price-To-Earnings Ratio (10.2x) compared to the Australian Metals and Mining industry average (9.4x)


Price to Earnings Ratio vs Fair Ratio

What is IMA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IMA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate IMA's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of IMA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IMA (A$0.19) is trading below our estimate of fair value (A$1.46)

Significantly Below Fair Value: IMA is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate IMA's PEG Ratio to determine if it is good value.


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Future Growth

How is Image Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-6.9%

Forecasted Materials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Image Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Image Resources is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Image Resources competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Image Resources performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


52.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IMA has high quality earnings.

Growing Profit Margin: IMA's current net profit margins (10.8%) are lower than last year (14.1%).


Past Earnings Growth Analysis

Earnings Trend: IMA has become profitable over the past 5 years, growing earnings by 52.6% per year.

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

Earnings vs Industry: IMA had negative earnings growth (-21.8%) over the past year, making it difficult to compare to the Metals and Mining industry average (57.3%).


Return on Equity

High ROE: IMA's Return on Equity (17.5%) is considered low.


Discover strong past performing companies

Financial Health

How is Image Resources's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: IMA's short term assets (A$105.6M) exceed its short term liabilities (A$31.8M).

Long Term Liabilities: IMA's short term assets (A$105.6M) exceed its long term liabilities (A$36.5M).


Debt to Equity History and Analysis

Debt Level: IMA is debt free.

Reducing Debt: IMA has no debt compared to 5 years ago when its debt to equity ratio was 38.7%.

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

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


Balance Sheet


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Dividend

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

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


10.81%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: IMA's dividend (10.81%) is higher than the bottom 25% of dividend payers in the Australian market (2.75%).

High Dividend: IMA's dividend (10.81%) is in the top 25% of dividend payers in the Australian market (6.87%)


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (103%), IMA's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (33.8%), IMA's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

6.9yrs

Average management tenure


CEO

Patrick Mutz (64 yo)

6.08yrs

Tenure

AU$731,205

Compensation

Mr. Patrick Roy Mutz, BSc/BM (Hons), MBA/GM, FAusIMM, MSME, REM(USA), MA, serves as Independent Non-Executive Director at Aura Energy Limited since May 18, 2022. He has been Managing Director of Image Reso...


CEO Compensation Analysis

Compensation vs Market: Patrick's total compensation ($USD496.34K) is above average for companies of similar size in the Australian market ($USD281.90K).

Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: IMA's management team is seasoned and experienced (6.9 years average tenure).


Board Members

Experienced Board: IMA's board of directors are considered experienced (6.1 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 been diluted in the past year, with total shares outstanding growing by 7.4%.


Top Shareholders

Company Information

Image Resources NL's employee growth, exchange listings and data sources


Key Information

  • Name: Image Resources NL
  • Ticker: IMA
  • Exchange: ASX
  • Founded: 1994
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: AU$198.184m
  • Shares outstanding: 1.07b
  • Website: https://www.imageres.com.au

Location

  • Image Resources NL
  • 7 Ventnor Avenue
  • Level 2
  • 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 Analysis2022/07/04 00:00
End of Day Share Price2022/07/01 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.