TSX:CDH

Stock Analysis Report

Corridor Resources

Executive Summary

Corridor Resources Inc., a junior resource company, explores for, develops, and produces petroleum and natural gas.

Snowflake

Fundamentals

Flawless balance sheet and undervalued.

Share Price & News

How has Corridor Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.5%

CDH

0.4%

CA Oil and Gas

-0.1%

CA Market


1 Year Return

-3.0%

CDH

-12.5%

CA Oil and Gas

0.9%

CA Market

Return vs Industry: CDH exceeded the Canadian Oil and Gas industry which returned -12.5% over the past year.

Return vs Market: CDH underperformed the Canadian Market which returned 0.9% over the past year.


Shareholder returns

CDHIndustryMarket
7 Day-4.5%0.4%-0.1%
30 Day-1.5%-2.7%-2.1%
90 Day-3.0%-4.4%-1.6%
1 Year-3.0%-3.0%-8.6%-12.5%4.4%0.9%
3 Year56.1%56.1%-14.8%-23.4%15.5%5.2%
5 Year-57.3%-57.3%-22.2%-34.0%25.7%7.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Corridor Resources undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CDH (CA$0.64) is trading below our estimate of fair value (CA$1.35)

Significantly Undervalued: CDH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CDH is good value based on its PE Ratio (8.2x) compared to the Oil and Gas industry average (8.3x).

PE vs Market: CDH is good value based on its PE Ratio (8.2x) compared to the Canadian market (13.6x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate CDH's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CDH is good value based on its PB Ratio (0.5x) compared to the CA Oil and Gas industry average (0.7x).


Next Steps

Future Growth

How is Corridor Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CDH's forecast earnings growth (9.2% per year) is above the savings rate (1.9%).

Earnings vs Market: CDH's earnings (9.2% per year) are forecast to grow slower than the Canadian market (13.2% per year).

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

Revenue vs Market: Insufficient data to determine if CDH's revenue is forecast to grow faster than the Canadian market.

High Growth Revenue: Insufficient data to determine if CDH's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if CDH's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Corridor Resources performed over the past 5 years?

17.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CDH's earnings have grown by 17.2% per year over the past 5 years.

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

Earnings vs Industry: CDH had negative earnings growth (-46.1%) over the past year, making it difficult to compare to the Oil and Gas industry average (62.2%).


Return on Equity

High ROE: CDH's Return on Equity (6.1%) is considered low.


Return on Assets

ROA vs Industry: CDH's Return on Assets is below or equal to the Oil and Gas industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Corridor Resources's financial position?


Financial Position Analysis

Short Term Liabilities: CDH's short term assets (CA$64.5M) exceeds its short term liabilities (CA$790.0K)

Long Term Liabilities: CDH's short term assets (64.5M) exceeds its long term liabilities (12.5M)


Debt to Equity History and Analysis

Debt Level: CDH is debt free.

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

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

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


Balance Sheet

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

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


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%2.0%markettop25%6.0%industryaverage4.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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


Next Steps

Management

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

13.5yrs

Average management tenure


CEO

Steve Moran (55yo)

5.1yrs

Tenure

CA$513,695

Compensation

Mr. Stephen John Moran, also known as Steve, has been Chief Executive Officer and President at Corridor Resources Inc. since September 29, 2014. Mr. Moran served as the Chief Executive Officer and Presiden ...


CEO Compensation Analysis

Compensation vs. Market: Steve's total compensation ($USD388.20K) is about average for companies of similar size in the Canadian market ($USD121.34K).

Compensation vs Earnings: Steve's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

13.5yrs

Average Tenure

Experienced Management: CDH's management team is seasoned and experienced (13.5 years average tenure).


Board Age and Tenure

8.7yrs

Average Tenure

61yo

Average Age

Experienced Board: CDH's board of directors are considered experienced (8.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyCA$23,27229 Mar 19
Andrea Creemer
EntityIndividual
Shares31,448
Max PriceCA$0.74
SellCA$1,94828 Jan 19
Lisette Hachey
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares2,500
Max PriceCA$0.78
SellCA$5,46021 Jan 19
Lisette Hachey
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares7,000
Max PriceCA$0.78
SellCA$2,80015 Jan 19
Lisette Hachey
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares3,500
Max PriceCA$0.80
SellCA$27,21005 Dec 18
Andrea Creemer
EntityIndividual
Shares30,000
Max PriceCA$0.91
SellCA$10,00003 Dec 18
Lisette Hachey
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares25,000
Max PriceCA$0.40

Ownership Breakdown


Management Team

  • Lisette Hachey

    Chief Financial Officer

    • Tenure: 13.5yrs
    • Compensation: CA$310.50k
  • Steve Moran (55yo)

    President

    • Tenure: 5.1yrs
    • Compensation: CA$513.70k
  • Tom Martel

    Chief Geologist

    • Tenure: 21.5yrs
    • Compensation: CA$139.03k
  • Tom Banks

    Senior Engineering Consultant

    • Tenure: 0yrs
    • Compensation: CA$273.63k

Board Members

  • Norm Miller (78yo)

    Independent Director

    • Tenure: 24.6yrs
    • Compensation: CA$40.00k
  • Phil Knoll (64yo)

    Independent Director

    • Tenure: 9.1yrs
    • Compensation: CA$64.67k
  • Doug Foster (62yo)

    Independent Chairman of the Board

    • Tenure: 12.9yrs
    • Compensation: CA$114.67k
  • Steve Moran (55yo)

    President

    • Tenure: 5.1yrs
    • Compensation: CA$513.70k
  • Jim McKee (60yo)

    Independent Director

    • Tenure: 4.4yrs
    • Compensation: CA$64.67k
  • Martin Fräss-Ehrfeld (43yo)

    Independent Director

    • Tenure: 8.3yrs

Company Information

Corridor Resources Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Corridor Resources Inc.
  • Ticker: CDH
  • Exchange: TSX
  • Founded: 1983
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: CA$56.414m
  • Shares outstanding: 88.15m
  • Website: https://www.corridor.ca

Number of Employees


Location

  • Corridor Resources Inc.
  • 5475 Spring Garden Road
  • Suite 301
  • Halifax
  • Nova Scotia
  • B3J 3T2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CDHTSX (The Toronto Stock Exchange)YesCommon SharesCACADNov 1997
C6VDB (Deutsche Boerse AG)YesCommon SharesDEEURNov 1997
CDDR.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDNov 1997

Biography

Corridor Resources Inc., a junior resource company, explores for, develops, and produces petroleum and natural gas. The company explores for petroleum and natural gas onshore in New Brunswick; and offshore ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 23:35
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.