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SLR

Silver Lake Resources ASX:SLR Stock Report

Last Price

AU$1.18

Market Cap

AU$1.1b

7D

5.8%

1Y

-15.1%

Updated

01 Oct, 2022

Data

Company Financials +
SLR fundamental analysis
Snowflake Score
Valuation4/6
Future Growth4/6
Past Performance1/6
Financial Health6/6
Dividends0/6

SLR Stock Overview

Silver Lake Resources Limited, together with its subsidiaries, engages in the exploration, mine development, mine operation, and sale of gold and copper concentrates in Australia and Canada.

Silver Lake Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Silver Lake Resources
Historical stock prices
Current Share PriceAU$1.18
52 Week HighAU$2.25
52 Week LowAU$0.99
Beta1.09
1 Month Change-3.67%
3 Month Change-4.84%
1 Year Change-15.11%
3 Year Change27.57%
5 Year Change198.73%
Change since IPO214.67%

Recent News & Updates

Shareholder Returns

SLRAU Metals and MiningAU Market
7D5.8%-1.2%-1.7%
1Y-15.1%4.0%-10.8%

Return vs Industry: SLR underperformed the Australian Metals and Mining industry which returned 4% over the past year.

Return vs Market: SLR underperformed the Australian Market which returned -10.8% over the past year.

Price Volatility

Is SLR's price volatile compared to industry and market?
SLR volatility
SLR Average Weekly Movement7.2%
Metals and Mining Industry Average Movement11.3%
Market Average Movement9.4%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.2%

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

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

About the Company

FoundedEmployeesCEOWebsite
2004n/aLuke Tonkinhttps://www.silverlakeresources.com.au

Silver Lake Resources Limited, together with its subsidiaries, engages in the exploration, mine development, mine operation, and sale of gold and copper concentrates in Australia and Canada. The company holds interests in the Deflector operations that produce gold bullion and gold-copper concentrates located in the Southern Murchison region of Western Australia; and Mount Monger operations, which produce gold bullion located within the Kalgoorlie terrane subdivision of the Eastern Goldfields Province. It also holds a 100% interest in the Sugar Zone operations that produce gold bullion and gold concentrates covering an area of approximately 81,287 hectares located in Northern Ontario, Canada.

Silver Lake Resources Fundamentals Summary

How do Silver Lake Resources's earnings and revenue compare to its market cap?
SLR fundamental statistics
Market CapAU$1.10b
Earnings (TTM)AU$77.68m
Revenue (TTM)AU$634.57m

14.1x

P/E Ratio

1.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SLR income statement (TTM)
RevenueAU$634.57m
Cost of RevenueAU$518.53m
Gross ProfitAU$116.04m
Other ExpensesAU$38.36m
EarningsAU$77.68m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.084
Gross Margin18.29%
Net Profit Margin12.24%
Debt/Equity Ratio0%

How did SLR perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

SLR 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/Revenue1.3x
Enterprise Value/EBITDA3.6x
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

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

SLR PE Ratio vs Peers
The above table shows the PE ratio for SLR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average37.4x
RRL Regis Resources
85.5x18.8%AU$1.2b
WAF West African Resources
4.9x12.5%AU$1.1b
RMS Ramelius Resources
50.1x53.5%AU$621.8m
PRU Perseus Mining
8.9x6.7%AU$2.1b
SLR Silver Lake Resources
14.1x24.5%AU$1.1b

Price-To-Earnings vs Peers: SLR is good value based on its Price-To-Earnings Ratio (14.1x) compared to the peer average (37.4x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: SLR is expensive based on its Price-To-Earnings Ratio (14.1x) compared to the Australian Metals and Mining industry average (8.4x)


Price to Earnings Ratio vs Fair Ratio

What is SLR'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.

SLR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.1x
Fair PE Ratio22.8x

Price-To-Earnings vs Fair Ratio: SLR is good value based on its Price-To-Earnings Ratio (14.1x) compared to the estimated Fair Price-To-Earnings Ratio (22.8x).


Share Price vs Fair Value

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

Below Fair Value: SLR (A$1.18) is trading below our estimate of fair value (A$12.06)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Silver Lake Resources forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


24.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SLR's forecast earnings growth (24.5% per year) is above the savings rate (1.8%).

Earnings vs Market: SLR's earnings (24.5% per year) are forecast to grow faster than the Australian market (6.5% per year).

High Growth Earnings: SLR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SLR's revenue (8.9% per year) is forecast to grow faster than the Australian market (3.7% per year).

High Growth Revenue: SLR's revenue (8.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SLR's Return on Equity is forecast to be low in 3 years time (10.9%).


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Past Performance

How has Silver Lake Resources performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


41.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SLR has a large one-off gain of A$23.1M impacting its June 30 2022 financial results.

Growing Profit Margin: SLR's current net profit margins (12.2%) are lower than last year (16.4%).


Past Earnings Growth Analysis

Earnings Trend: SLR's earnings have grown significantly by 41% per year over the past 5 years.

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

Earnings vs Industry: SLR had negative earnings growth (-20.9%) over the past year, making it difficult to compare to the Metals and Mining industry average (22.7%).


Return on Equity

High ROE: SLR's Return on Equity (7.4%) is considered low.


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Financial Health

How is Silver Lake 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: SLR's short term assets (A$404.5M) exceed its short term liabilities (A$133.9M).

Long Term Liabilities: SLR's short term assets (A$404.5M) exceed its long term liabilities (A$93.3M).


Debt to Equity History and Analysis

Debt Level: SLR is debt free.

Reducing Debt: SLR has no debt compared to 5 years ago when its debt to equity ratio was 1%.

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

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


Balance Sheet


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Silver Lake Resources Dividend Yield vs Market
How does Silver Lake Resources dividend yield compare to the market?
SegmentDividend Yield
Company (Silver Lake Resources)n/a
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Metals and Mining)10.3%
Analyst forecast in 3 Years (Silver Lake Resources)0%

Notable Dividend: Unable to evaluate SLR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SLR'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 SLR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SLR's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as SLR has not reported any payouts.


Discover strong dividend paying companies

Management

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

7.8yrs

Average management tenure


CEO

Luke Tonkin (58 yo)

8.92yrs

Tenure

AU$2,060,488

Compensation

Mr. Luke Tonkin, BEng, MAusIMM, AICD, Min Eng, has been Director of Egan Street Resources Pty Ltd (formerly known as Egan Street Resources Limited) since November 22, 2019. Mr. Tonkin has been the Managing...


CEO Compensation Analysis

Luke Tonkin's Compensation vs Silver Lake Resources Earnings
How has Luke Tonkin's remuneration changed compared to Silver Lake Resources's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$2mAU$846k

AU$78m

Mar 31 2022n/an/a

AU$77m

Dec 31 2021n/an/a

AU$77m

Sep 30 2021n/an/a

AU$88m

Jun 30 2021AU$2mAU$815k

AU$98m

Mar 31 2021n/an/a

AU$188m

Dec 31 2020n/an/a

AU$278m

Sep 30 2020n/an/a

AU$267m

Jun 30 2020AU$2mAU$753k

AU$257m

Mar 31 2020n/an/a

AU$152m

Dec 31 2019n/an/a

AU$47m

Sep 30 2019n/an/a

AU$27m

Jun 30 2019AU$1mAU$683k

AU$7m

Mar 31 2019n/an/a

AU$12m

Dec 31 2018n/an/a

AU$18m

Sep 30 2018n/an/a

AU$17m

Jun 30 2018AU$1mAU$648k

AU$16m

Mar 31 2018n/an/a

AU$6m

Dec 31 2017n/an/a

-AU$4m

Sep 30 2017n/an/a

-AU$1m

Jun 30 2017AU$1mAU$608k

AU$2m

Mar 31 2017n/an/a

AU$7m

Dec 31 2016n/an/a

AU$12m

Sep 30 2016n/an/a

AU$8m

Jun 30 2016AU$1mAU$553k

AU$4m

Compensation vs Market: Luke's total compensation ($USD1.33M) is about average for companies of similar size in the Australian market ($USD1.08M).

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


Leadership Team

Experienced Management: SLR's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: SLR's board of directors are considered experienced (6.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: SLR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

ASX:SLR Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
09 Sep 22BuyAU$435,936Dimensional Fund Advisors LPCompany324,414AU$1.41
09 Sep 22SellAU$128,721Dimensional Fund Advisors LPCompany95,365AU$1.57
06 Sep 22SellAU$359,890Luke TonkinIndividual290,000AU$1.24
26 Jul 22BuyAU$32,539,901Van Eck Associates CorporationCompany16,435,760AU$2.07
07 Jul 22SellAU$1,596,638Van Eck Associates CorporationCompany787,357AU$2.15
21 Jun 22BuyAU$1,676,371Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany1,160,347AU$1.44
20 Jun 22BuyAU$2,199,642Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany1,444,166AU$1.52
17 Jun 22BuyAU$85,758First Sentier Investors (Australia) IM LtdCompany52,774AU$1.62
17 Jun 22BuyAU$712,860Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany445,872AU$1.60
16 Jun 22BuyAU$2,455,038First Sentier Investors (Australia) IM LtdCompany1,613,488AU$1.52
14 Jun 22BuyAU$1,373,892First Sentier Investors (Australia) IM LtdCompany868,169AU$1.68
18 May 22BuyAU$16,202,968Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany9,671,652AU$1.68
18 May 22SellAU$20,336,529Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany13,158,945AU$1.55
17 May 22SellAU$41,128First Sentier Investors (Australia) IM LtdCompany27,789AU$1.48
16 May 22BuyAU$2,213,879First Sentier Investors (Australia) IM LtdCompany1,237,495AU$1.91
27 Apr 22BuyAU$4,814,975First Sentier Investors (Australia) IM LtdCompany2,374,803AU$2.03
21 Apr 22BuyAU$670,365Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany309,799AU$2.16
21 Apr 22SellAU$989,299First Sentier Investors (Australia) IM LtdCompany451,467AU$2.19
21 Apr 22SellAU$279,680Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany126,849AU$2.20
13 Apr 22BuyAU$5,240First Sentier Investors (Australia) IM LtdCompany2,437AU$2.15
12 Apr 22BuyAU$334,140Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany158,545AU$2.11
07 Apr 22BuyAU$6,883,319Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany3,295,772AU$2.09
07 Apr 22SellAU$4,706,837First Sentier Investors (Australia) IM LtdCompany2,217,031AU$2.12
07 Apr 22SellAU$1,911,287Morgan Stanley, Investment Banking and Brokerage InvestmentsCompany896,012AU$2.13
05 Apr 22BuyAU$448,303First Sentier Investors (Australia) IM LtdCompany217,373AU$2.08
29 Mar 22BuyAU$25,775,960First Sentier Investors (Australia) IM LtdCompany14,800,087AU$1.76
25 Jan 22SellAU$0BlackRock, Inc.Company628,855AU$1.84
24 Jan 22BuyAU$53,119BlackRock, Inc.Company1,061,549AU$1.82
17 Dec 21SellAU$18,991,066Van Eck Associates CorporationCompany11,562,632AU$1.72
10 Dec 21BuyAU$1,159BlackRock, Inc.Company634,795AU$1.68
10 Dec 21SellAU$0BlackRock, Inc.Company1,379,452AU$1.65
29 Nov 21BuyAU$13,314,583Van Eck Associates CorporationCompany8,547,388AU$1.72
08 Nov 21SellAU$20,213,915Paradice Investment Management Pty Ltd.Company11,776,503AU$1.72

Ownership Breakdown

What is the ownership structure of SLR?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders3,526,9170.4%
Private Companies10,500,0001.1%
General Public429,951,14746.2%
Institutions485,768,26952.2%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5%.


Top Shareholders

Top 25 shareholders own 51.19% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
10.61%
Van Eck Associates Corporation
98,625,834A$116.4m16.33%0.14%
5.63%
Paradice Investment Management Pty Ltd.
52,313,574A$61.7m0%1.36%
5.01%
Dimensional Fund Advisors LP
46,602,692A$55.0m34.21%0.01%
4.83%
BlackRock, Inc.
44,926,985A$53.0m0%no data
4.7%
The Vanguard Group, Inc.
43,699,057A$51.6m0%no data
4.45%
First Sentier Investors (Australia) IM Ltd
41,337,419A$48.8m-8.56%0.07%
2.16%
Invesco Ltd.
20,100,096A$23.7m1.52%no data
1.84%
Jupiter Fund Management Plc
17,076,546A$20.2m0%0.04%
1.67%
Ruffer LLP
15,522,447A$18.3m0%0.11%
1.53%
Commonwealth Superannuation Corporation
14,188,784A$16.7m0%0.19%
1.27%
TD Asset Management, Inc.
11,814,214A$13.9m-18.59%0.01%
1.05%
KONTOR STÖWER Asset Management GmbH
9,759,480A$11.5m11.42%2.78%
1%
LLB Swiss Investment AG
9,300,000A$11.0m0%1.66%
0.97%
Mccusker Holdings Pty. Ltd.
9,000,000A$10.6m0%no data
0.82%
Argenta Bank- en Verzekeringsgroep nv, Asset Management Arm
7,638,418A$9.0m36.66%0.39%
0.74%
American Century Investment Management Inc
6,895,753A$8.1m4.97%no data
0.46%
Victory Capital Management Inc.
4,268,850A$5.0m0%no data
0.43%
AMG Fondsverwaltungs AG
4,000,000A$4.7m0%0.5%
0.33%
Amundi Asset Management
3,077,324A$3.6m3.72%no data
0.33%
Morgan Stanley, Investment Banking and Brokerage Investments
3,067,701A$3.6m-3.9%no data
0.33%
State Street Global Advisors, Inc.
3,063,586A$3.6m2.68%no data
0.3%
PKO Towarzystwo Funduszy Inwestycyjnych SA
2,774,795A$3.3m114.57%0.11%
0.29%
BetaShares Capital Limited
2,659,158A$3.1m5.6%0.02%
0.24%
Colonial First State Investments Limited
2,242,409A$2.6m0%0.02%
0.22%
Epoch Investment Partners, Inc.
2,067,231A$2.4m0.12%0.02%

Company Information

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


Key Information

  • Name: Silver Lake Resources Limited
  • Ticker: SLR
  • Exchange: ASX
  • Founded: 2004
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: AU$1.097b
  • Shares outstanding: 929.61m
  • Website: https://www.silverlakeresources.com.au

Number of Employees


Location

  • Silver Lake Resources Limited
  • South Shore Centre
  • Suite 4
  • South Perth
  • Western Australia
  • 6151
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SLRASX (Australian Securities Exchange)YesOrdinary SharesAUAUDNov 2007
4SLDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2007
SVLK.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2007
SLRCHIA (Chi-X Australia)YesOrdinary SharesAUAUDNov 2007

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.