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Syndicated Metals

ASX:SMD
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SMD
ASX
A$3M
Market Cap
  1. Home
  2. AU
  3. Materials
Company description

Syndicated Metals Limited engages in the exploration and evaluation of mineral properties in Australia. The last earnings update was 91 days ago. More info.


Add to Portfolio Compare Print
  • Syndicated Metals has significant price volatility in the past 3 months.
SMD Share Price and Events
7 Day Returns
0%
ASX:SMD
-3.3%
AU Metals and Mining
-3.3%
AU Market
1 Year Returns
-78.3%
ASX:SMD
12.5%
AU Metals and Mining
2.5%
AU Market
SMD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Syndicated Metals (SMD) 0% -16.7% -16.7% -78.3% 25% -84.4%
AU Metals and Mining -3.3% -0.8% 1.7% 12.5% 99.7% 81.8%
AU Market -3.3% -3.3% -6.8% 2.5% 40.1% 51.1%
1 Year Return vs Industry and Market
  • SMD underperformed the Metals and Mining industry which returned 12.5% over the past year.
  • SMD underperformed the Market in Australia which returned 2.5% over the past year.
Price Volatility
SMD
Industry
5yr Volatility vs Market

SMD Value

 Is Syndicated Metals undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Syndicated Metals to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Syndicated Metals.

ASX:SMD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.7%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:SMD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.8%
Equity Risk Premium S&P Global 7.2%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.956 (1 + (1- 30%) (0%))
0.956
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.77% + (0.956 * 7.23%)
9.68%

Discounted Cash Flow Calculation for ASX:SMD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Syndicated Metals is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:SMD DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (AUD, Millions) 0.88 0.71 0.58 0.48 0.41
Source Est @ -20%, capped from -73.62% Est @ -19%, capped from -73.62% Est @ -18%, capped from -73.62% Est @ -17%, capped from -73.62% Est @ -16%, capped from -73.62%
Present Value
Discounted (@ 9.68%)
0.80 0.59 0.44 0.33 0.26
Present value of next 5 years cash flows A$2.42
ASX:SMD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= A$0.41 × (1 + 2.77%) ÷ (9.68% – 2.77%)
A$6.03
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= A$6.03 ÷ (1 + 9.68%)5
A$3.80
ASX:SMD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= A$2.42 + A$3.80
A$6.21
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$6.21 / 635.49
A$0.01
ASX:SMD Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.01
Current discount Discount to share price of A$0.01
= -1 x (A$0.01 - A$0.01) / A$0.01
48.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Syndicated Metals is available for.
Intrinsic value
49%
Share price is A$0.005 vs Future cash flow value of A$0.00978
Current Discount Checks
For Syndicated Metals to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Syndicated Metals's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Syndicated Metals's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Syndicated Metals's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Syndicated Metals's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:SMD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in AUD A$-0.01
ASX:SMD Share Price ** ASX (2018-11-13) in AUD A$0.01
Australia Metals and Mining Industry PE Ratio Median Figure of 78 Publicly-Listed Metals and Mining Companies 9.48x
Australia Market PE Ratio Median Figure of 555 Publicly-Listed Companies 15.66x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Syndicated Metals.

ASX:SMD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:SMD Share Price ÷ EPS (both in AUD)

= 0.01 ÷ -0.01

-0.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Syndicated Metals is loss making, we can't compare its value to the AU Metals and Mining industry average.
  • Syndicated Metals is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Syndicated Metals's expected growth come at a high price?
Raw Data
ASX:SMD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Australia Metals and Mining Industry PEG Ratio Median Figure of 40 Publicly-Listed Metals and Mining Companies 0.94x
Australia Market PEG Ratio Median Figure of 359 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Syndicated Metals, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Syndicated Metals's assets?
Raw Data
ASX:SMD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in AUD A$0.01
ASX:SMD Share Price * ASX (2018-11-13) in AUD A$0.01
Australia Metals and Mining Industry PB Ratio Median Figure of 569 Publicly-Listed Metals and Mining Companies 1.63x
Australia Market PB Ratio Median Figure of 1,639 Publicly-Listed Companies 1.77x
ASX:SMD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:SMD Share Price ÷ Book Value per Share (both in AUD)

= 0.01 ÷ 0.01

0.79x

* Primary Listing of Syndicated Metals.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Syndicated Metals is good value based on assets compared to the AU Metals and Mining industry average.
X
Value checks
We assess Syndicated Metals's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Syndicated Metals has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SMD Future Performance

 How is Syndicated Metals expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Syndicated Metals 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.2%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Syndicated Metals expected to grow at an attractive rate?
  • Unable to compare Syndicated Metals's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Syndicated Metals's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare Syndicated Metals's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:SMD Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 1.2%
Australia Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 1.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:SMD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:SMD Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-06-30 0 -2 -5
2018-03-31 0 -2 -2
2017-12-31 0 -2 1
2017-09-30 0 -2 1
2017-06-30 0 -2 1
2017-03-31 0 -2 0
2016-12-31 0 -2 -1
2016-09-30 0 -2 -4
2016-06-30 0 -2 -7
2016-03-31 0 -2 -7
2015-12-31 0 -2 -7
2015-09-30 0 -1 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Syndicated Metals is high growth as no earnings estimate data is available.
  • Unable to determine if Syndicated Metals is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:SMD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Syndicated Metals Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:SMD Past Financials Data
Date (Data in AUD Millions) EPS *
2018-06-30 -0.01
2018-03-31 -0.00
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 -0.00
2016-09-30 -0.01
2016-06-30 -0.02
2016-03-31 -0.02
2015-12-31 -0.02
2015-09-30 -0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Syndicated Metals will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Syndicated Metals is trading at Syndicated Metals'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Syndicated Metals's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Syndicated Metals's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Syndicated Metals's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Syndicated Metals has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SMD Past Performance

  How has Syndicated Metals performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Syndicated Metals's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Syndicated Metals does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Syndicated Metals's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Syndicated Metals's 1-year growth to the AU Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Syndicated Metals's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Syndicated Metals Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:SMD Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 0.01 -5.37 0.69
2018-03-31 0.01 -2.21 0.72
2017-12-31 0.01 0.95 0.76
2017-09-30 0.05 1.01 0.74
2017-06-30 0.09 1.08 0.72
2017-03-31 0.08 0.15 0.62
2016-12-31 0.08 -0.77 0.52
2016-09-30 0.04 -3.93 0.56
2016-06-30 0.00 -7.08 0.59
2016-03-31 0.00 -7.10 0.70
2015-12-31 0.00 -7.11 0.82
2015-09-30 0.00 -4.09 0.92
2015-06-30 -1.07 1.03
2015-03-31 -0.92 1.16
2014-12-31 -0.77 1.29
2014-09-30 -0.64 1.19
2014-06-30 -0.51 1.10
2014-03-31 0.26 -3.20 1.21
2013-12-31 0.51 -5.88 1.31
2013-09-30 0.51 -5.85 1.36
2013-06-30 0.51 -5.82 1.41
2013-03-31 0.26 -3.78 1.59
2012-12-31 -1.74 1.76
2012-09-30 -2.30 2.04
2012-06-30 -2.86 2.32
2012-03-31 -2.45 2.01
2011-12-31 -2.04 1.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Syndicated Metals has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Syndicated Metals has efficiently used its assets last year compared to the AU Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Syndicated Metals improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Syndicated Metals's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Syndicated Metals has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SMD Health

 How is Syndicated Metals's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Syndicated Metals's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Syndicated Metals is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Syndicated Metals has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Syndicated Metals's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Syndicated Metals has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Syndicated Metals Company Filings, last reported 4 months ago.

ASX:SMD Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 4.02 0.00 0.50
2018-03-31 4.02 0.00 0.50
2017-12-31 8.86 0.00 1.41
2017-09-30 8.86 0.00 1.41
2017-06-30 9.23 0.00 2.63
2017-03-31 9.23 0.00 2.63
2016-12-31 7.79 0.00 1.32
2016-09-30 7.79 0.00 1.32
2016-06-30 5.69 0.00 0.51
2016-03-31 5.69 0.00 0.51
2015-12-31 5.71 0.00 0.61
2015-09-30 5.71 0.00 0.61
2015-06-30 12.29 0.00 1.71
2015-03-31 12.29 0.00 1.71
2014-12-31 10.90 0.00 1.05
2014-09-30 10.90 0.00 1.05
2014-06-30 11.36 0.01 2.21
2014-03-31 11.36 0.01 2.21
2013-12-31 11.31 0.03 2.87
2013-09-30 11.31 0.03 2.87
2013-06-30 9.18 0.04 0.90
2013-03-31 9.18 0.04 0.90
2012-12-31 14.67 0.05 2.90
2012-09-30 14.67 0.05 2.90
2012-06-30 12.27 0.06 1.98
2012-03-31 12.27 0.06 1.98
2011-12-31 10.84 0.00 2.17
  • Syndicated Metals has no debt.
  • Syndicated Metals has no debt compared to 5 years ago when it was 0.4%.
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.

  • Whilst loss making Syndicated Metals has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Syndicated Metals has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -40.9% per year.
X
Financial health checks
We assess Syndicated Metals's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Syndicated Metals has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SMD Dividends

 What is Syndicated Metals's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Syndicated Metals dividends.
If you bought A$2,000 of Syndicated Metals shares you are expected to receive A$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Syndicated Metals's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Syndicated Metals's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:SMD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Australia Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 35 Stocks 4.4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 420 Stocks 4.6%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
Australia Top 25% Dividend Yield 75th Percentile 6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Syndicated Metals has not reported any payouts.
  • Unable to verify if Syndicated Metals's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Syndicated Metals's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Syndicated Metals has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Syndicated Metals's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Syndicated Metals afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Syndicated Metals has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SMD Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Beaumont Morgan
COMPENSATION A$88,731
TENURE AS CEO 0.6 years
CEO Bio

Mr. David Beaumont Gwyn Morgan is Managing Director and Chief Executive Officer of Syndicated Metals Limited since April 27, 2018. Mr. Morgan served as the Chief Executive Officer of RNI NL from November 2, 2015 to September 1, 2016. Mr. Morgan joined RNI as Operations Manager a year ago to oversee the delivery of the Grosvenor Gold Project and other project development activities. He is a professional mining engineer and chartered mechanical engineer and highly experienced mining executive with 35 years' experience across the Australian and African mining industries. He is skilled in mineral exploration, project development, operational management and technical management and previously held a number of executive, development and mine operations roles with companies such as Rio Tinto, Macmahon and WMC Resources. He served as an Operations Director of Syndicated Metals Limited from March 20, 2012 to August 31, 2013, where he was instrumental in the corporate restructure of Syndicated Metals and the development of the Barbara Copper-Gold Project and served as its Executive Director from March 20, 2012 to August 31, 2013. Mr. Morgan served as General Manager of Mining at Sundance Resources Ltd., since September 24, 2007. He managed the Pre-Feasibility Study for Sundance Resource Ltd's world- class Mbalam Iron Ore Project in Cameroon and prior to that, he served as General Manager of Operations at Equigold NL's highly successful Mt Rawdon Gold Mine in Queensland, where he was responsible for building, commissioning and management of the Mt Rawdon gold mine. Mr. Morgan has been a Non-Executive Director of Syndicated Metals Limited since September 1, 2013. He served as a Director of RNI NL from November 2, 2015 to September 1, 2016. He has previously held numerous senior executive development and mine operations roles involving project engineering, maintenance and contract earthmoving for companies including Rio Tinto, Equigold, Macmahon and WMC Resources.

CEO Compensation
  • David Beaumont's compensation has increased whilst company is loss making.
  • David Beaumont's remuneration is lower than average for companies of similar size in Australia.
Management Team

David Beaumont Morgan

TITLE
MD, CEO & Director
COMPENSATION
A$89K
TENURE
0.6 yrs

Paul Bridson

TITLE
Company Secretary
COMPENSATION
A$109K
AGE
50
TENURE
6.2 yrs
Board of Directors Tenure

Average tenure of the Syndicated Metals board of directors in years:

6.7
Average Tenure
  • The tenure for the Syndicated Metals board of directors is about average.
Board of Directors

Peter Langworthy

TITLE
Non-Executive Chairman
COMPENSATION
A$78K
AGE
55
TENURE
6.7 yrs

David Beaumont Morgan

TITLE
MD, CEO & Director
COMPENSATION
A$89K
TENURE
6.7 yrs

Rob Cooper

TITLE
Non-Executive Director
COMPENSATION
A$52K
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
02. Jan 18 Buy David Beaumont Morgan Individual 29. Dec 17 29. Dec 17 2,000,000 A$0.01 A$19,999
X
Management checks
We assess Syndicated Metals's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Syndicated Metals has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SMD News

External News
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Simply Wall St News

What You Must Know About Syndicated Metals Limited's (ASX:SMD) Beta Value

The other type, which cannot be diversified away, is the volatility of the entire market. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

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Do You Know Who Else Invests In Syndicated Metals Limited (ASX:SMD)?

A look at the shareholders of Syndicated Metals Limited (ASX:SMD) can tell us which group is most powerful. … Syndicated Metals is a smaller company with a market capitalization of AU$4m, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Syndicated Metals

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Did Syndicated Metals Limited (ASX:SMD) Create Value For Investors Over The Past Year?

I am writing today to help inform people who are new to the stock market. … and want to begin learning the link between Syndicated Metals Limited (ASX:SMD)’s return fundamentals and stock market performance. … Syndicated Metals Limited (ASX:SMD) performed in line with its copper industry on the basis of its ROE – producing a return of 10.75% relative to the peer average of 11.89% over the past 12 months.

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What You Must Know About Syndicated Metals Limited's (ASX:SMD) Return on Equity

View our latest analysis for Syndicated Metals What you must know about ROE Return on Equity (ROE) is a measure of Syndicated Metals’s profit relative to its shareholders’ equity. … Currently, Syndicated Metals has no debt which means its returns are driven purely by equity capital. … While Syndicated Metals exhibits a weak ROE against its peers, its returns are sufficient enough to cover its cost of equity.

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Should You Worry About Syndicated Metals Limited's (ASX:SMD) CEO Pay?

Therefore I will use earnings as a proxy of Munckton's performance in the past year. … ASX:SMD Past Future Earnings Mar 27th 18 Is SMD's CEO overpaid relative to the market? … Based on the size of SMD in terms of market cap, as well as its performance, using earnings as a proxy, it seems that Munckton is compensated similar to other Australian CEOs of small-caps, on average.

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Does Syndicated Metals Limited's (ASX:SMD) PE Ratio Warrant A Buy?

Syndicated Metals Limited (ASX:SMD) is currently trading at a trailing P/E of 5.7x, which is lower than the industry average of 13.5x. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for SMD Price per share = A$0.01 Earnings per share = A$0.002 ∴ Price-Earnings Ratio = A$0.01 ÷ A$0.002 = 5.7x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … SMD’s P/E of 5.7x is lower than its industry peers (13.5x), which implies that each dollar of SMD’s earnings is being undervalued by investors.

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Why Syndicated Metals Limited's (ASX:SMD) Ownership Structure Is Important

Check out our latest analysis for Syndicated Metals ASX:SMD Ownership_summary Mar 9th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: With a low level of institutional ownership, investors in SMD need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

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How Did Syndicated Metals Limited's (ASX:SMD) 10.75% ROE Fare Against The Industry?

See our latest analysis for Syndicated Metals What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … For now, let’s just look at the cost of equity number for Syndicated Metals, which is 9.72%. … Its appropriate level of leverage means investors can be more confident in the sustainability of Syndicated Metals’s return with a possible increase should the company decide to increase its debt levels.

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Why You Need To Look At This Factor Before Buying Syndicated Metals Limited (ASX:SMD)

If you are looking to invest in Syndicated Metals Limited’s (ASX:SMD), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … SMD, with its market capitalisation of AU$5.72M, is a small-cap stock, which generally have higher beta than similar companies of larger size. … I test SMD’s ratio of fixed assets to total assets in order to determine how high the risk is associated with this type of constraint.

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What You Must Know About Syndicated Metals Limited's (ASX:SMD) Financial Health

Zero-debt allows substantial financial flexibility, especially for small-cap companies like Syndicated Metals Limited (ASX:SMD), as the company does not have to adhere to strict debt covenants. … See our latest analysis for Syndicated Metals Is SMD right in choosing financial flexibility over lower cost of capital? … SMD’s revenue growth over the past year was an impressively high triple-digit rate, so it is acceptable that the company is opting for a zero-debt capital structure currently as it may need to raise debt to fuel expansion in the future.

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SMD Company Info

Map
Description

Syndicated Metals Limited engages in the exploration and evaluation of mineral properties in Australia. It primarily explores for gold, and copper, and base metal deposits. The company primarily focuses on the exploration of its Monument gold project covering an area of 210 square kilometers located in the Laverton region of Western Australia. It also holds interests in the Mt Remarkable project covering approximately 1,082 square kilometers in Queensland; and the Fountain Range project covering approximately 460 square kilometers in Queensland. The company was incorporated in 2005 and is based in Subiaco, Australia.

Details
Name: Syndicated Metals Limited
SMD
Exchange: ASX
Founded: 2005
A$3,177,461
635,492,379
Website: http://www.syndicatedmetals.com.au
Address: Syndicated Metals Limited
68A Hay Street,
Subiaco,
Western Australia, 6008,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX SMD Ordinary Shares Australian Securities Exchange AU AUD 13. Dec 2007
DB 3OV Ordinary Shares Deutsche Boerse AG DE EUR 13. Dec 2007
CHIA SMD Ordinary Shares Chi-X Australia AU AUD 13. Dec 2007
Number of employees
Current staff
Staff numbers
0
Syndicated Metals employees.
Industry
Copper
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/19 08:03
End of day share price update: 2018/11/13 00:00
Last earnings filing: 2018/08/20
Last earnings reported: 2018/06/30
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.