Stock Analysis Report

Executive Summary

Syndicated Metals Limited engages in the exploration and evaluation of mineral properties in Australia.

Snowflake Analysis

Flawless balance sheet and overvalued.

Share Price & News

How has Syndicated Metals's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: SMD's share price has been volatile over the past 3 months.

Market Performance

7 Day Return




AU Metals and Mining


AU Market

1 Year Return




AU Metals and Mining


AU Market

Return vs Industry: SMD matched the Australian Metals and Mining industry which returned -0.4% over the past year.

Return vs Market: SMD underperformed the Australian Market which returned 7.9% over the past year.

Shareholder returns

7 Day0%-7.1%-7.1%
30 Day-16.7%-7.9%-5.3%
90 Day-28.6%-3.6%-3.2%
1 Year0%0%4.8%0.1%11.3%6.7%
3 Year-78.3%-78.3%45.9%28.0%28.2%11.2%
5 Year-79.2%-79.2%74.4%33.3%40.9%9.2%

Price Volatility Vs. Market

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

Simply Wall St News


Is Syndicated Metals 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 SMD's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate SMD's fair value to establish if it is undervalued.

Price To Earnings Ratio

PE vs Industry: SMD is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: SMD 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 SMD's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: SMD is good value based on its PB Ratio (0.8x) compared to the AU Metals and Mining industry average (1.3x).

Next Steps

Future Growth

How is Syndicated Metals 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 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 SimplyWall St do have past financial data.

Next Steps

Past Performance

How has Syndicated Metals performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SMD is currently unprofitable.

Growing Profit Margin: SMD is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: SMD is unprofitable, and losses have increased over the past 5 years at a rate of -1.6% per year.

Accelerating Growth: Unable to compare SMD's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SMD is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (24.1%).

Return on Equity

High ROE: SMD has a negative Return on Equity (-0.96%), as it is currently unprofitable.

Next Steps

Financial Health

How is Syndicated Metals's financial position?

Financial Position Analysis

Short Term Liabilities: SMD's short term assets (A$1.5M) exceed its short term liabilities (A$174.2K).

Long Term Liabilities: SMD has no long term liabilities.

Debt to Equity History and Analysis

Debt Level: SMD is debt free.

Reducing Debt: SMD has not had any debt for past 5 years.

Balance Sheet

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

Debt Coverage by Assets: Insufficient data to determine if SMD's debt is covered by short term assets.

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: SMD has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: SMD has sufficient cash runway for 1.6 years if free cash flow continues to grow at historical rates of 18.3% each year.

Next Steps


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

Dividend Yield vs Market

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

High Dividend: Unable to evaluate SMD's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SMD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SMD'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 SMD's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.

Next Steps


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


Average management tenure


Brad Drabsch 0



Mr. Bradley James Drabsch, also known as Brad, BSc (Hons), MAIG FSEG, has been Executive Director at High Grade Metals Limited since April 3, 2019. Mr. Drabsch is a Managing Director of Syndicated Metals L ...

Leadership Team

Bradley Drabsch
MD & Executive Director0.2yrsno data0.27% A$12.5k
Toby Wellman
Technical Director & Executive Director0yrsno data0.27% A$12.5k
Paul Bridson
Company Secretary7.4yrsAU$109.28kno data


Average Tenure

Experienced Management: SMD's management team is not considered experienced ( 0.2 years average tenure), which suggests a new team.


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 not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Syndicated Metals Limited's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Syndicated Metals Limited
  • Ticker: SMD
  • Exchange: ASX
  • Founded: 2005
  • Industry: Gold
  • Sector: Materials
  • Market Cap: AU$4.685m
  • Shares outstanding: 936.93m
  • Website:


  • Syndicated Metals Limited
  • 56 Kings Park Road
  • Suite 5
  • West Perth
  • Western Australia
  • 6005
  • Australia


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SMDASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2007
3OVDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2007
SMDCHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2007


Syndicated Metals Limited engages in the exploration and evaluation of mineral properties in Australia. It primarily explores for gold deposits. The company holds interests in the Newington Gold project; and the Monument Gold project that comprises a 215 square kilometers tenement package located west of Laverton in Western Australia. Syndicated Metals Limited was incorporated in 2005 and is based in West Perth, Australia. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 10:39
End of Day Share Price2020/02/25 00:00
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.