Magnetite Mines Limited explores for mineral properties in South Australia.
Magnetite Mines Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||AU$0.025|
|52 Week High||AU$0.007|
|52 Week Low||AU$0.094|
|1 Month Change||-7.41%|
|3 Month Change||-41.86%|
|1 Year Change||150.00%|
|3 Year Change||212.50%|
|5 Year Change||-30.56%|
|Change since IPO||-92.19%|
Recent News & Updates
|MGT||AU Metals and Mining||AU Market|
Return vs Industry: MGT exceeded the Australian Metals and Mining industry which returned 10.8% over the past year.
Return vs Market: MGT exceeded the Australian Market which returned 21.3% over the past year.
Stable Share Price: MGT is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 11% a week.
Volatility Over Time: MGT's weekly volatility has decreased from 19% to 11% over the past year.
About the Company
Magnetite Mines Limited explores for mineral properties in South Australia. Its flagship project is Razorback Iron project that includes the Razorback Ridge, Iron Peak, and Ironback Hill deposits located in Adelaide, South Australia. The company was formerly known as Royal Resources Limited and changed its name to Magnetite Mines Limited in December 2015.
Magnetite Mines Fundamentals Summary
|MGT fundamental statistics|
Is MGT overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MGT income statement (TTM)|
|Cost of Revenue||AU$0|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||-0.00055|
|Net Profit Margin||0.00%|
How did MGT perform over the long term?See historical performance and comparison
Is Magnetite Mines undervalued compared to its fair value and its price relative to the market?
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate MGT's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate MGT's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: MGT is unprofitable, so we can't compare its PE Ratio to the Australian Metals and Mining industry average.
PE vs Market: MGT is unprofitable, so we can't compare its PE Ratio to the Australian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MGT's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MGT is overvalued based on its PB Ratio (2.9x) compared to the AU Metals and Mining industry average (2.6x).
How is Magnetite Mines forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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 Magnetite Mines 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.
How has Magnetite Mines performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MGT is currently unprofitable.
Growing Profit Margin: MGT is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: MGT is unprofitable, but has reduced losses over the past 5 years at a rate of 28.3% per year.
Accelerating Growth: Unable to compare MGT's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: MGT is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (35.3%).
Return on Equity
High ROE: MGT has a negative Return on Equity (-6.44%), as it is currently unprofitable.
How is Magnetite Mines's financial position?
Financial Position Analysis
Short Term Liabilities: MGT's short term assets (A$16.8M) exceed its short term liabilities (A$834.6K).
Long Term Liabilities: MGT's short term assets (A$16.8M) exceed its long term liabilities (A$2.0M).
Debt to Equity History and Analysis
Debt Level: MGT's debt to equity ratio (7.3%) is considered satisfactory.
Reducing Debt: MGT's debt to equity ratio has reduced from 36% to 7.3% over the past 5 years.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: MGT has sufficient cash runway for more than 3 years based on its current free cash flow.
Forecast Cash Runway: MGT has sufficient cash runway for 2.4 years if free cash flow continues to reduce at historical rates of 0.5% each year.
What is Magnetite Mines's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate MGT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate MGT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if MGT's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if MGT's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of MGT's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mr. Peter James Schubert serves as CEO since August 2021 and serves as Executive Chairman of the Board at Magnetite Mines Limited since September 3, 2018 and served as its Interim Chief Executive Officer s...
CEO Compensation Analysis
Compensation vs Market: Peter's total compensation ($USD333.38K) is about average for companies of similar size in the Australian market ($USD302.38K).
Compensation vs Earnings: Peter's compensation has increased whilst the company is unprofitable.
Experienced Management: MGT's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Experienced Board: MGT's board of directors are considered experienced (3.1 years average tenure).
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.1%.
Magnetite Mines Limited's employee growth, exchange listings and data sources
- Name: Magnetite Mines Limited
- Ticker: MGT
- Exchange: ASX
- Founded: 2004
- Industry: Steel
- Sector: Materials
- Market Cap: AU$78.627m
- Shares outstanding: 3.15b
- Website: https://www.magnetitemines.com
- Magnetite Mines Limited
- 22 Greenhill Road
- Suite 1
- South Australia
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/25 16:50|
|End of Day Share Price||2021/10/25 00:00|
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.