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SYR

Syrah Resources ASX:SYR Stock Report

Last Price

AU$1.64

Market Cap

AU$1.1b

7D

-14.1%

1Y

58.5%

Updated

01 Oct, 2022

Data

Company Financials +
SYR fundamental analysis
Snowflake Score
Valuation1/6
Future Growth5/6
Past Performance0/6
Financial Health5/6
Dividends0/6

SYR Stock Overview

Syrah Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Mozambique.

Syrah Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Syrah Resources
Historical stock prices
Current Share PriceAU$1.64
52 Week HighAU$2.16
52 Week LowAU$0.99
Beta2.3
1 Month Change-7.35%
3 Month Change30.68%
1 Year Change58.45%
3 Year Change234.69%
5 Year Change-55.07%
Change since IPO763.16%

Recent News & Updates

Shareholder Returns

SYRAU Metals and MiningAU Market
7D-14.1%-1.2%-1.7%
1Y58.5%4.0%-10.8%

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

Return vs Market: SYR exceeded the Australian Market which returned -10.8% over the past year.

Price Volatility

Is SYR's price volatile compared to industry and market?
SYR volatility
SYR Average Weekly Movement9.8%
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: SYR is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: SYR's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2007n/aShaun Vernerhttps://www.syrahresources.com.au

Syrah Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Mozambique. The company operates through Balama and Vidalia segments. Its flagship project is the Balama graphite and vanadium project located in Cabo Delgado Province, Mozambique.

Syrah Resources Fundamentals Summary

How do Syrah Resources's earnings and revenue compare to its market cap?
SYR fundamental statistics
Market CapAU$1.10b
Earnings (TTM)-AU$64.94m
Revenue (TTM)AU$108.40m

10.1x

P/S Ratio

-16.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SYR income statement (TTM)
RevenueUS$69.84m
Cost of RevenueUS$81.57m
Gross Profit-US$11.73m
Other ExpensesUS$30.11m
Earnings-US$41.84m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.062
Gross Margin-16.80%
Net Profit Margin-59.91%
Debt/Equity Ratio15.2%

How did SYR perform over the long term?

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

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales 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 SYR?

Other financial metrics that can be useful for relative valuation.

SYR 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/Revenue9.1x
Enterprise Value/EBITDA-17.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does SYR's PS Ratio compare to its peers?

SYR PS Ratio vs Peers
The above table shows the PS ratio for SYR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1x
29M 29Metals
1.4x10.0%AU$1.1b
IMD Imdex
2.1x3.2%AU$710.5m
PRN Perenti Global
0.3x0.7%AU$636.1m
BLY Boart Longyear Group
0.4xn/aAU$651.0m
SYR Syrah Resources
10.1x52.0%AU$1.1b

Price-To-Sales vs Peers: SYR is expensive based on its Price-To-Sales Ratio (10.1x) compared to the peer average (1x).


Price to Earnings Ratio vs Industry

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

Price-To-Sales vs Industry: SYR is good value based on its Price-To-Sales Ratio (10.1x) compared to the Australian Metals and Mining industry average (55.9x)


Price to Sales Ratio vs Fair Ratio

What is SYR's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SYR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.1x
Fair PS Ratio2.8x

Price-To-Sales vs Fair Ratio: SYR is expensive based on its Price-To-Sales Ratio (10.1x) compared to the estimated Fair Price-To-Sales Ratio (2.8x).


Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate SYR's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate SYR's fair value for valuation analysis.


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 lower than the current share price.


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Future Growth

How is Syrah Resources forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


115.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SYR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.8%).

Earnings vs Market: SYR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SYR is expected to become profitable in the next 3 years.

Revenue vs Market: SYR's revenue (52% per year) is forecast to grow faster than the Australian market (3.7% per year).

High Growth Revenue: SYR's revenue (52% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SYR's Return on Equity is forecast to be low in 3 years time (8.9%).


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Past Performance

How has Syrah Resources performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-16.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SYR is currently unprofitable.

Growing Profit Margin: SYR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: SYR is unprofitable, and losses have increased over the past 5 years at a rate of 16.5% per year.

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

Earnings vs Industry: SYR is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (22.7%).


Return on Equity

High ROE: SYR has a negative Return on Equity (-9.22%), as it is currently unprofitable.


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Financial Health

How is Syrah Resources's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: SYR's short term assets ($212.3M) exceed its short term liabilities ($21.9M).

Long Term Liabilities: SYR's short term assets ($212.3M) exceed its long term liabilities ($104.6M).


Debt to Equity History and Analysis

Debt Level: SYR has more cash than its total debt.

Reducing Debt: SYR's debt to equity ratio has increased from 0% to 15.2% over the past 5 years.


Balance Sheet


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

Forecast Cash Runway: SYR has sufficient cash runway for 1.6 years if free cash flow continues to grow at historical rates of 19.6% each year.


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Dividend

What is Syrah 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

Syrah Resources Dividend Yield vs Market
How does Syrah Resources dividend yield compare to the market?
SegmentDividend Yield
Company (Syrah 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 (Syrah Resources)0%

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

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

Growing Dividend: Insufficient data to determine if SYR'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 SYR has not reported any payouts.


Discover strong dividend paying companies

Management

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

4.3yrs

Average management tenure


CEO

Shaun Verner

5.58yrs

Tenure

US$989,362

Compensation

Mr. Shaun Verner has been Chief Executive Officer and Managing Director at Syrah Resources Limited since February 3, 2017. Mr. Verner served as Executive General Manager of Sales and Marketing at Syrah Res...


CEO Compensation Analysis

Shaun Verner's Compensation vs Syrah Resources Earnings
How has Shaun Verner's remuneration changed compared to Syrah Resources's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-US$42m

Mar 31 2022n/an/a

-US$49m

Dec 31 2021US$989kUS$351k

-US$57m

Sep 30 2021n/an/a

-US$57m

Jun 30 2021n/an/a

-US$57m

Mar 31 2021n/an/a

-US$59m

Dec 31 2020US$955kUS$323k

-US$61m

Sep 30 2020n/an/a

-US$69m

Jun 30 2020n/an/a

-US$78m

Mar 31 2020n/an/a

-US$104m

Dec 31 2019US$797kUS$325k

-US$131m

Sep 30 2019n/an/a

-US$116m

Jun 30 2019n/an/a

-US$102m

Mar 31 2019n/an/a

-US$66m

Dec 31 2018US$934kUS$352k

-US$29m

Sep 30 2018n/an/a

-US$21m

Jun 30 2018n/an/a

-US$14m

Mar 31 2018n/an/a

-US$13m

Dec 31 2017US$905kUS$339k

-US$12m

Sep 30 2017n/an/a

-US$14m

Jun 30 2017n/an/a

-US$16m

Mar 31 2017n/an/a

-US$15m

Dec 31 2016US$132kUS$40k

-US$14m

Compensation vs Market: Shaun's total compensation ($USD989.36K) is about average for companies of similar size in the Australian market ($USD1.08M).

Compensation vs Earnings: Shaun's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: SYR's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: SYR's board of directors are considered experienced (4.9 years average tenure).


Ownership

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

ASX:SYR Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
06 Jul 22BuyAU$798,569UBS Asset ManagementCompany641,832AU$1.24
06 Jul 22SellAU$1,514,977UBS Asset ManagementCompany1,216,541AU$1.25
05 Jul 22BuyAU$7,856,736UBS Asset ManagementCompany6,213,839AU$1.26
05 Jul 22SellAU$7,697,482UBS Asset ManagementCompany6,068,935AU$1.27
24 Jun 22BuyAU$5,964,730UBS Asset ManagementCompany5,085,400AU$1.17
24 Jun 22SellAU$8,187,219UBS Asset ManagementCompany6,944,451AU$1.18
21 Jun 22BuyAU$21,104,805UBS Asset ManagementCompany16,843,974AU$1.26
21 Jun 22SellAU$23,253,970UBS Asset ManagementCompany18,461,711AU$1.26
08 Jun 22BuyAU$31,344,620UBS Asset ManagementCompany18,681,172AU$1.83
08 Jun 22SellAU$39,879,822UBS Asset ManagementCompany22,856,637AU$1.82
20 May 22BuyAU$9,322,377UBS Asset ManagementCompany4,897,318AU$1.93
20 May 22SellAU$8,566,540UBS Asset ManagementCompany4,517,111AU$1.90
19 May 22BuyAU$29,079,390UBS Asset ManagementCompany17,095,462AU$1.70
19 May 22SellAU$33,179,073UBS Asset ManagementCompany19,510,383AU$1.70
05 May 22BuyAU$90,329,418UBS Asset ManagementCompany51,559,940AU$1.75
05 May 22SellAU$88,483,214UBS Asset ManagementCompany50,798,930AU$1.74
29 Mar 22BuyAU$17,933,470Paradice Investment Management Pty Ltd.Company11,895,792AU$1.79
23 Mar 22BuyAU$249,017,514UBS Asset ManagementCompany164,385,207AU$1.52
23 Mar 22SellAU$216,087,192UBS Asset ManagementCompany141,917,285AU$1.52
18 Mar 22SellAU$15,879Paradice Investment Management Pty Ltd.Company11,637AU$1.40
07 Mar 22BuyAU$8,278John BeeversIndividual5,593AU$1.48
07 Mar 22BuyAU$10,320Sara WattsIndividual6,973AU$1.48
22 Feb 22SellAU$137,461,263AustralianSuper Pty. Ltd.Company63,315,275AU$2.17
16 Feb 22SellAU$14,343,275Paradice Investment Management Pty Ltd.Company10,272,316AU$1.40
15 Feb 22BuyAU$8,583,046Paradice Investment Management Pty Ltd.Company5,752,436AU$1.49

Ownership Breakdown

What is the ownership structure of SYR?
Owner TypeNumber of SharesOwnership Percentage
Public Companies9,141,3691.4%
Individual Insiders39,756,1035.9%
Institutions296,609,41044.2%
General Public325,063,82848.5%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 34.5%.


Top Shareholders

Top 25 shareholders own 51.33% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
18.02%
AustralianSuper Pty. Ltd.
120,858,162$198.2m0%0.47%
7.79%
Paradice Investment Management Pty Ltd.
52,270,115$85.7m0%1.93%
5.36%
Bruce Gray
35,943,668$58.9m0%no data
4.91%
UBS Asset Management
32,958,382$54.1m-0.66%0.01%
4.62%
The Vanguard Group, Inc.
30,996,391$50.8m4.02%no data
1.61%
Commonwealth Superannuation Corporation
10,818,181$17.7m0%0.2%
1.49%
Dimensional Fund Advisors LP
10,002,608$16.4m-1.2%no data
1.36%
Copper Strike Limited
9,141,369$15.0m0%no data
1.25%
BlackRock, Inc.
8,386,166$13.8m1.03%no data
0.88%
BNP Paribas Arbitrage Sa, Asset Management Arm
5,876,465$9.6m0%0.01%
0.83%
Norges Bank Investment Management
5,597,883$9.2m0%no data
0.75%
Orn & Cie SA
5,039,624$8.3m0%2.89%
0.64%
GWL Investment Management Ltd.
4,276,422$7.0m-12.6%0.02%
0.31%
Masfen Securities Limited, Asset Management Arm
2,092,117$3.4m0%no data
0.21%
SIX Group AG, Asset Management Arm
1,438,830$2.4m0%0.11%
0.21%
Shaun Verner
1,429,274$2.3m8.44%no data
0.17%
Charles Schwab Investment Management, Inc.
1,170,535$1.9m1.94%no data
0.16%
Gregory Robinson
1,100,000$1.8m0%no data
0.16%
Netwealth Investments Ltd.
1,097,937$1.8m0%0.02%
0.12%
AMP Capital Investors Limited
803,600$1.3m0%0.06%
0.11%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
731,233$1.2m0%no data
0.091%
Julio C. Costa
607,693$996.6k0%no data
0.089%
Niche Asset Management Limited
600,000$984.0k-13%0.14%
0.087%
State Street Global Advisors, Inc.
583,378$956.7k1.94%no data
0.062%
Geode Capital Management, LLC
416,680$683.4k0.76%no data

Company Information

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


Key Information

  • Name: Syrah Resources Limited
  • Ticker: SYR
  • Exchange: ASX
  • Founded: 2007
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: AU$1.100b
  • Shares outstanding: 670.57m
  • Website: https://www.syrahresources.com.au

Number of Employees


Location

  • Syrah Resources Limited
  • 477 Collins Street
  • Level 7
  • Melbourne
  • Victoria
  • 3000
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SYRASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2011
SYAA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2011
3S7DB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2011
SYRCHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2011
SRHY.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDJun 2015

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 Earnings2021/12/31


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.