ASX:SBM

Stock Analysis Report

Executive Summary

St Barbara Limited, together with its subsidiaries, engages in the exploration, development, mining, and sale of gold.

Snowflake

Fundamentals

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has St Barbara's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-7.7%

SBM

-1.4%

AU Metals and Mining

0.1%

AU Market


1 Year Return

-39.9%

SBM

10.2%

AU Metals and Mining

11.9%

AU Market

Return vs Industry: SBM underperformed the Australian Metals and Mining industry which returned 10.2% over the past year.

Return vs Market: SBM underperformed the Australian Market which returned 11.9% over the past year.


Shareholder returns

SBMIndustryMarket
7 Day-7.7%-1.4%0.1%
30 Day-17.6%-6.2%-1.1%
90 Day-28.3%-11.8%-1.4%
1 Year-38.5%-39.9%18.2%10.2%18.5%11.9%
3 Year-0.2%-7.3%57.7%38.7%36.4%18.1%
5 Year2079.6%1924.0%70.4%29.8%50.9%16.7%

Price Volatility Vs. Market

How volatile is St Barbara's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is St Barbara undervalued compared to its fair value and its price relative to the market?

13.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBM (A$2.53) is trading below our estimate of fair value (A$2.94)

Significantly Below Fair Value: SBM is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: SBM is good value based on its PE Ratio (9.4x) compared to the Metals and Mining industry average (13x).

PE vs Market: SBM is good value based on its PE Ratio (9.4x) compared to the Australian market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: SBM is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: SBM is good value based on its PB Ratio (1.4x) compared to the AU Metals and Mining industry average (1.5x).


Next Steps

Future Growth

How is St Barbara forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

10.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBM's forecast earnings growth (10.9% per year) is above the savings rate (2.3%).

Earnings vs Market: SBM's earnings (10.9% per year) are forecast to grow faster than the Australian market (10.2% per year).

High Growth Earnings: SBM's earnings are forecast to grow, but not significantly.

Revenue vs Market: SBM's revenue (6.9% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: SBM's revenue (6.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SBM's Return on Equity is forecast to be low in 3 years time (12.3%).


Next Steps

Past Performance

How has St Barbara performed over the past 5 years?

47.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SBM has become profitable over the past 5 years, growing earnings by 47.2% per year.

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

Earnings vs Industry: SBM had negative earnings growth (-36.5%) over the past year, making it difficult to compare to the Metals and Mining industry average (14.4%).


Return on Equity

High ROE: SBM's Return on Equity (11.5%) is considered low.


Return on Assets

ROA vs Industry: SBM has a higher Return on Assets than the Metals and Mining industry average last year.


Return on Capital Employed

ROCE Improving: SBM's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is St Barbara's financial position?


Financial Position Analysis

Short Term Liabilities: SBM's short term assets (A$971.5M) exceeds its short term liabilities (A$96.5M)

Long Term Liabilities: SBM's short term assets (971.5M) exceeds its long term liabilities (56.2M)


Debt to Equity History and Analysis

Debt Level: SBM is debt free.

Reducing Debt: SBM has no debt compared to 5 years ago when its debt to equity ratio was 251.9%.

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

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


Balance Sheet

Inventory Level: SBM has a high level of physical assets or inventory.

Debt Coverage by Assets: SBM's debt is not covered by short term assets (assets are -194293.8x debt).


Next Steps

Dividend

What is St Barbara's current dividend yield, its reliability and sustainability?

3.16%

Current Dividend Yield


Dividend Yield vs Market

company3.2%marketbottom25%2.4%markettop25%5.6%industryaverage4.8%forecastin3Years3.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SBM's dividend (3.16%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).

High Dividend: SBM's dividend (3.16%) is low compared to the top 25% of dividend payers in the Australian market (5.58%).

Stable Dividend: SBM has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SBM's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29.6%), SBM's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SBM's dividends in 3 years are forecast to be well covered by earnings (30.7% payout ratio).


Next Steps

Management

What is the CEO of St Barbara's salary, the management and board of directors tenure and is there insider trading?

4.6yrs

Average management tenure


CEO

Bob Vassie (56yo)

5.3yrs

Tenure

AU$1,751,026

Compensation

Mr. Robert Scott Vassie, also known as Bob, B. Mineral Technology Hons, GAICD, FAusIMM, has been the Chief Executive Officer and Managing Director of St Barbara Limited since July 1, 2014. Mr. Vassie has b ...


CEO Compensation Analysis

Compensation vs. Market: Bob's total compensation ($USD1.20M) is about average for companies of similar size in the Australian market ($USD1.43M).

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


Management Age and Tenure

4.6yrs

Average Tenure

Experienced Management: SBM's management team is considered experienced (4.6 years average tenure).


Board Age and Tenure

4.3yrs

Average Tenure

59yo

Average Age

Experienced Board: SBM's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: SBM insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyAU$273,91404 Oct 19
Norges Bank Investment Management
EntityCompany
Shares95,162
Max PriceAU$2.88
SellAU$366,36126 Sep 19
Norges Bank Investment Management
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Max PriceAU$2.99
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JPMorgan Chase & Co, Brokerage and Securities Investments
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Max PriceAU$3.27
SellAU$1,231,95809 Sep 19
JPMorgan Chase & Co, Brokerage and Securities Investments
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Shares389,804
Max PriceAU$3.18
BuyAU$25,418,91505 Sep 19
JPMorgan Chase & Co, Brokerage and Securities Investments
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Shares8,109,553
Max PriceAU$4.02
BuyAU$276,31505 Sep 19
J.P. Morgan Asset Management, Inc.
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Shares87,719
Max PriceAU$3.15
SellAU$1,796,78805 Sep 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares715,022
Max PriceAU$2.51
SellAU$18,641,17205 Sep 19
J.P. Morgan Asset Management, Inc.
EntityCompany
Shares7,121,193
Max PriceAU$3.09
SellAU$24,651,00105 Sep 19
JPMorgan Chase & Co, Brokerage and Securities Investments
EntityCompany
Shares7,758,685
Max PriceAU$3.98
BuyAU$183,54604 Sep 19
Societe Generale Group, Banking Investments
EntityCompany
Shares57,002
Max PriceAU$3.22
BuyAU$19,38001 Sep 19
Timothy Netscher
EntityIndividual
Role
Chairman of the Board
Independent Non-Executive Chairman
Shares6,000
Max PriceAU$3.23
BuyAU$3,199,20001 Sep 19
Norges Bank Investment Management
EntityCompany
Shares992,000
Max PriceAU$3.23
SellAU$357,85201 Sep 19
Norges Bank Investment Management
EntityCompany
Shares110,790
Max PriceAU$3.23
SellAU$14,950,34628 Aug 19
Norges Bank Investment Management
EntityCompany
Shares4,000,000
Max PriceAU$3.74
BuyAU$13,796,90328 Aug 19
Norges Bank Investment Management
EntityCompany
Shares3,490,865
Max PriceAU$3.95
SellAU$12,754,91724 Jun 19
Van Eck Associates Corporation
EntityCompany
Shares2,799,030
Max PriceAU$4.67
BuyAU$46,620,47224 Jun 19
Van Eck Associates Corporation
EntityCompany
Shares10,485,633
Max PriceAU$4.50
BuyAU$8,26811 Jun 19
Kerry Gleeson
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares2,861
Max PriceAU$2.89
BuyAU$289,00011 Jun 19
Robert Vassie
EntityIndividual
Role
Chief Executive Officer
MD, CEO & Director
Shares100,000
Max PriceAU$2.89
BuyAU$21,82811 Jun 19
Timothy Netscher
EntityIndividual
Role
Chairman of the Board
Independent Non-Executive Chairman
Shares7,553
Max PriceAU$2.89
BuyAU$28,40028 May 19
Timothy Netscher
EntityIndividual
Role
Chairman of the Board
Independent Non-Executive Chairman
Shares10,000
Max PriceAU$2.84
SellAU$6,219,99922 May 19
Norges Bank Investment Management
EntityCompany
Shares2,000,000
Max PriceAU$3.11
BuyAU$88,80021 May 19
Stefanie Loader
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares30,000
Max PriceAU$2.96
BuyAU$59,10020 May 19
Timothy Netscher
EntityIndividual
Role
Chairman of the Board
Independent Non-Executive Chairman
Shares20,000
Max PriceAU$2.96
BuyAU$47,90320 May 19
Kerry Gleeson
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares16,129
Max PriceAU$2.97
BuyAU$12,030,24427 Mar 19
Vinva Investment Management
EntityCompany
Shares3,691,529
Max PriceAU$3.26
SellAU$20,010,91527 Mar 19
Vinva Investment Management
EntityCompany
Shares5,458,831
Max PriceAU$3.67
SellAU$1,897,70015 Mar 19
Credit Suisse, Investment Banking and Securities Investments
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Shares454,001
Max PriceAU$4.18
BuyAU$768,13715 Mar 19
Credit Suisse, Investment Banking and Securities Investments
EntityCompany
Shares177,433
Max PriceAU$4.33
SellAU$4,228,29512 Mar 19
Norges Bank Investment Management
EntityCompany
Shares843,971
Max PriceAU$5.01
SellAU$348,04212 Mar 19
Credit Suisse, Investment Banking and Securities Investments
EntityCompany
Shares82,792
Max PriceAU$4.20
BuyAU$838,98812 Mar 19
Credit Suisse, Investment Banking and Securities Investments
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Shares200,583
Max PriceAU$4.18
BuyAU$1,032,93211 Mar 19
JPMorgan Chase & Co, Brokerage and Securities Investments
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Shares247,199
Max PriceAU$4.22
SellAU$1,386,55911 Mar 19
JPMorgan Chase & Co, Brokerage and Securities Investments
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Shares331,696
Max PriceAU$4.22
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Credit Suisse, Investment Banking and Securities Investments
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Max PriceAU$4.20
SellAU$177,20508 Mar 19
Credit Suisse, Investment Banking and Securities Investments
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Shares39,868
Max PriceAU$4.44
BuyAU$86,47107 Mar 19
Credit Suisse Asset Management (Switzerland)
EntityCompany
Shares18,712
Max PriceAU$4.62
BuyAU$69,801,39307 Mar 19
Credit Suisse, Investment Banking and Securities Investments
EntityCompany
Shares14,850,691
Max PriceAU$4.70
SellAU$61,239,54607 Mar 19
Credit Suisse, Investment Banking and Securities Investments
EntityCompany
Shares13,118,054
Max PriceAU$4.67
SellAU$2,661,72507 Mar 19
Credit Suisse Asset Management (Switzerland)
EntityCompany
Shares650,000
Max PriceAU$4.09
BuyAU$36,106,99406 Mar 19
JPMorgan Chase & Co, Brokerage and Securities Investments
EntityCompany
Shares7,867,999
Max PriceAU$5.27
SellAU$2,253,93606 Mar 19
J.P. Morgan Asset Management, Inc.
EntityCompany
Shares484,157
Max PriceAU$5.13
BuyAU$377,72306 Mar 19
J.P. Morgan Asset Management, Inc.
EntityCompany
Shares80,695
Max PriceAU$4.89
SellAU$35,33706 Mar 19
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
EntityCompany
Shares7,110
Max PriceAU$4.97
SellAU$46,748,17206 Mar 19
JPMorgan Chase & Co, Brokerage and Securities Investments
EntityCompany
Shares10,342,133
Max PriceAU$5.25

Ownership Breakdown


Management Team

  • Roger Mustard

    General Manager of Exploration

    • Tenure: 2.8yrs
  • Garth Campbell-Cowan

    Chief Financial Officer

    • Tenure: 13.3yrs
    • Compensation: AU$925.70k
  • David Cotterell

    Manager of Investor Relations

    • Tenure: 0yrs
  • Rowan Cole

    Company Secretary

    • Tenure: 5.6yrs
    • Compensation: AU$728.77k
  • Bob Vassie (56yo)

    MD, CEO & Director

    • Tenure: 5.3yrs
    • Compensation: AU$1.75m
  • Val Madsen

    General Manager of Human Resources

    • Tenure: 0yrs
  • Stean Barrie

    General Manager of Technical Services

    • Tenure: 4yrs
  • Gillian Wong

    Manager of Legal & Deputy Company Secretary

    • Tenure: 0yrs
  • Maryse Bélanger

    President Americas

    • Tenure: 0.08yrs

Board Members

  • Steven Dean (59yo)

    Independent Non-Executive Director

    • Tenure: 0.3yrs
  • Kerry Gleeson

    Independent Non-Executive Director

    • Tenure: 4.4yrs
    • Compensation: AU$161.26k
  • Tim Netscher (69yo)

    Independent Non-Executive Chairman

    • Tenure: 4.3yrs
    • Compensation: AU$263.34k
  • David Edward Moroney

    Independent Non-Executive Director

    • Tenure: 4.6yrs
    • Compensation: AU$161.26k
  • Stef Loader

    Independent Non-Executive Director

    • Tenure: 0.9yrs
    • Compensation: AU$104.17k
  • Bob Vassie (56yo)

    MD, CEO & Director

    • Tenure: 5.3yrs
    • Compensation: AU$1.75m

Company Information

St Barbara Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: St Barbara Limited
  • Ticker: SBM
  • Exchange: ASX
  • Founded: 1969
  • Industry: Gold
  • Sector: Materials
  • Market Cap: AU$1.762b
  • Shares outstanding: 699.16m
  • Website: https://stbarbara.com.au

Number of Employees


Location

  • St Barbara Limited
  • 432 St Kilda Road
  • Level 10
  • Melbourne
  • Victoria
  • 3004
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BM1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
SBMASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJan 1992
STBM.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
SBMCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJan 1992
STBM.YOTCPK (Pink Sheets LLC)SPON ADRUSUSDSep 1994

Biography

St Barbara Limited, together with its subsidiaries, engages in the exploration, development, mining, and sale of gold. It operates through two segments, Leonora Operations and Simberi Operations. The compa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 10:32
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.