Declared Dividend • Jun 05
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th June 2026 Payment date: 30th June 2026 Dividend yield will be 2.4%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (125% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Announcement • Jun 01
Pine Cliff Energy Ltd. Announces Changes to Its Board Pine Cliff Energy Ltd. announced in the annual general meeting held on May 29, 2026, the approval of the appointment of Ms. Hilary A. Foulkes as Chair of the Board, following the decision by Mr. William S. Rice to retire. Announcement • May 22
Pine Cliff Energy Ltd. to Report Q2, 2026 Results on Aug 12, 2026 Pine Cliff Energy Ltd. announced that they will report Q2, 2026 results on Aug 12, 2026 Declared Dividend • May 11
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th May 2026 Payment date: 29th May 2026 Dividend yield will be 2.4%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (125% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Reported Earnings • May 06
First quarter 2026 earnings released First quarter 2026 results: Revenue: CA$42.9m (down 6.7% from 1Q 2025). Net loss: CA$1.65m (loss narrowed 40% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Declared Dividend • Apr 01
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th April 2026 Payment date: 30th April 2026 Dividend yield will be 2.2%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (55% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Announcement • Mar 25
Pine Cliff Energy Ltd., Annual General Meeting, May 29, 2026 Pine Cliff Energy Ltd., Annual General Meeting, May 29, 2026. Announcement • Mar 10
Pine Cliff Energy Ltd. to Report Q1, 2026 Results on May 05, 2026 Pine Cliff Energy Ltd. announced that they will report Q1, 2026 results After-Market on May 05, 2026 Declared Dividend • Mar 09
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 16th March 2026 Payment date: 31st March 2026 Dividend yield will be 2.2%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (55% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Declared Dividend • Feb 06
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 13th February 2026 Payment date: 27th February 2026 Dividend yield will be 2.6%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (27% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Declared Dividend • Jan 09
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th January 2026 Payment date: 30th January 2026 Dividend yield will be 3.0%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (27% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Announcement • Jan 08
Pine Cliff Energy Ltd. Declares Regular Monthly Dividend, Payable on January 30, 2026 Pine Cliff Energy Ltd. has declared a regular monthly dividend of $0.00125 per common share to be paid January 30, 2026, to shareholders of record on January 15, 2026. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. Announcement • Jan 07
Pine Cliff Energy Ltd. to Report Q4, 2025 Results on Mar 04, 2026 Pine Cliff Energy Ltd. announced that they will report Q4, 2025 results After-Market on Mar 04, 2026 Price Target Changed • Dec 22
Price target increased by 9.9% to CA$0.97 Up from CA$0.89, the current price target is an average from 4 analysts. New target price is 16% above last closing price of CA$0.84. Stock is up 1.2% over the past year. The company posted a net loss per share of CA$0.06 last year. Declared Dividend • Dec 05
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th December 2025 Payment date: 31st December 2025 Dividend yield will be 2.9%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (27% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Price Target Changed • Dec 02
Price target increased by 7.2% to CA$0.93 Up from CA$0.86, the current price target is an average from 4 analysts. New target price is 8.8% above last closing price of CA$0.85. Stock is down 6.6% over the past year. The company posted a net loss per share of CA$0.06 last year. Recent Insider Transactions • Nov 20
Independent Director recently bought CA$103k worth of stock On the 18th of November, Robert Fryk bought around 125k shares on-market at roughly CA$0.83 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$323k more in shares than they have sold in the last 12 months. Declared Dividend • Nov 10
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 14th November 2025 Payment date: 28th November 2025 Dividend yield will be 3.5%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (27% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. New Risk • Nov 06
New major risk - Revenue and earnings growth Earnings have declined by 10% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Significant insider selling over the past 3 months (CA$176k sold). Reported Earnings • Nov 06
Third quarter 2025 earnings released: CA$0.02 loss per share (vs CA$0.019 loss in 3Q 2024) Third quarter 2025 results: CA$0.02 loss per share. Revenue: CA$37.6m (down 11% from 3Q 2024). Net loss: CA$6.00m (loss narrowed 13% from 3Q 2024). Declared Dividend • Oct 09
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th October 2025 Payment date: 31st October 2025 Dividend yield will be 5.0%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (23% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Declared Dividend • Sep 05
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th September 2025 Payment date: 29th September 2025 Dividend yield will be 6.4%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (23% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. New Risk • Aug 31
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$176k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Significant insider selling over the past 3 months (CA$176k sold). Declared Dividend • Aug 08
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th August 2025 Payment date: 29th August 2025 Dividend yield will be 6.4%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (23% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Announcement • Aug 07
Pine Cliff Energy Ltd. to Report Q3, 2025 Results on Nov 05, 2025 Pine Cliff Energy Ltd. announced that they will report Q3, 2025 results on Nov 05, 2025 Declared Dividend • Jul 09
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th July 2025 Payment date: 31st July 2025 Dividend yield will be 6.9%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (24% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Price Target Changed • Jun 22
Price target increased by 10% to CA$0.96 Up from CA$0.88, the current price target is an average from 4 analysts. New target price is 46% above last closing price of CA$0.66. Stock is down 35% over the past year. The company posted a net loss per share of CA$0.06 last year. Declared Dividend • Jun 05
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 16th June 2025 Payment date: 30th June 2025 Dividend yield will be 8.6%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (24% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Announcement • Jun 03
Pine Cliff Energy Ltd. Declares Monthly Dividend for June 30, 2025, Payable on June 30, 2025 Pine Cliff Energy Ltd. has declared a regular monthly dividend of $0.00125 per common share to be paid June 30, 2025, to shareholders of record on June 16, 2025. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. Declared Dividend • May 09
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th May 2025 Payment date: 30th May 2025 Dividend yield will be 9.2%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (24% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Reported Earnings • May 07
First quarter 2025 earnings released: CA$0.01 loss per share (vs CA$0.014 loss in 1Q 2024) First quarter 2025 results: CA$0.01 loss per share (improved from CA$0.014 loss in 1Q 2024). Revenue: CA$46.0m (down 3.5% from 1Q 2024). Net loss: CA$2.74m (loss narrowed 44% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • May 07
Pine Cliff Energy Ltd. to Report Q2, 2025 Results on Aug 06, 2025 Pine Cliff Energy Ltd. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Price Target Changed • Apr 09
Price target decreased by 8.4% to CA$0.95 Down from CA$1.04, the current price target is an average from 4 analysts. New target price is 56% above last closing price of CA$0.61. Stock is down 40% over the past year. The company posted a net loss per share of CA$0.06 last year. Declared Dividend • Apr 06
Dividend of CA$0.0013 announced Shareholders will receive a dividend of CA$0.0013. Ex-date: 15th April 2025 Payment date: 30th April 2025 Dividend yield will be 9.2%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (104% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Price Target Changed • Apr 03
Price target decreased by 8.1% to CA$0.99 Down from CA$1.08, the current price target is an average from 4 analysts. New target price is 47% above last closing price of CA$0.67. Stock is down 32% over the past year. The company posted a net loss per share of CA$0.06 last year. Announcement • Mar 18
Pine Cliff Energy Ltd., Annual General Meeting, May 20, 2025 Pine Cliff Energy Ltd., Annual General Meeting, May 20, 2025. Announcement • Mar 11
Pine Cliff Energy Ltd. to Report Q1, 2025 Results on May 05, 2025 Pine Cliff Energy Ltd. announced that they will report Q1, 2025 results After-Market on May 05, 2025 Declared Dividend • Mar 10
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 14th March 2025 Payment date: 31st March 2025 Dividend yield will be 7.6%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (104% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Reported Earnings • Mar 06
Full year 2024 earnings released: CA$0.06 loss per share (vs CA$0.026 profit in FY 2023) Full year 2024 results: CA$0.06 loss per share (down from CA$0.026 profit in FY 2023). Revenue: CA$180.2m (up 3.5% from FY 2023). Net loss: CA$21.4m (down 335% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Declared Dividend • Feb 09
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 14th February 2025 Payment date: 28th February 2025 Dividend yield will be 7.1%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Announcement • Feb 08
Pine Cliff Energy Ltd. Declares Monthly Dividend, Payable on February 28, 2025 Pine Cliff Energy Ltd. has declared a regular monthly dividend of $0.005 per common share to be paid February 28, 2025, to shareholders of record on February 14, 2025. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. Declared Dividend • Jan 09
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 15th January 2025 Payment date: 31st January 2025 Dividend yield will be 7.0%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Recent Insider Transactions • Jan 08
Independent Director recently bought CA$123k worth of stock On the 7th of January, Robert Fryk bought around 132k shares on-market at roughly CA$0.94 per share. This transaction increased Robert's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$329k more in shares than they have sold in the last 12 months. Buy Or Sell Opportunity • Dec 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.0% to CA$0.91. The fair value is estimated to be CA$1.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Dec 06
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 16th December 2024 Payment date: 31st December 2024 Dividend yield will be 8.1%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Announcement • Nov 26
Pine Cliff Energy Ltd. to Report Q4, 2024 Results on Mar 05, 2025 Pine Cliff Energy Ltd. announced that they will report Q4, 2024 results After-Market on Mar 05, 2025 Recent Insider Transactions • Nov 22
Independent Director recently sold CA$179k worth of stock On the 20th of November, Robert Fryk sold around 224k shares on-market at roughly CA$0.80 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$57k more than they sold in the last 12 months. Reported Earnings • Nov 15
Third quarter 2024 earnings released: CA$0.02 loss per share (vs CA$0.012 profit in 3Q 2023) Third quarter 2024 results: CA$0.02 loss per share (down from CA$0.012 profit in 3Q 2023). Revenue: CA$42.1m (down 7.0% from 3Q 2023). Net loss: CA$6.89m (down 263% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Declared Dividend • Nov 08
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 15th November 2024 Payment date: 29th November 2024 Dividend yield will be 9.2%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Price Target Changed • Oct 16
Price target decreased by 7.2% to CA$1.13 Down from CA$1.21, the current price target is an average from 4 analysts. New target price is 16% above last closing price of CA$0.97. Stock is down 35% over the past year. The company posted earnings per share of CA$0.026 last year. Declared Dividend • Oct 06
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 15th October 2024 Payment date: 31st October 2024 Dividend yield will be 7.9%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. Announcement • Sep 27
Pine Cliff Energy Ltd. to Report Q3, 2024 Results on Nov 13, 2024 Pine Cliff Energy Ltd. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 Declared Dividend • Sep 08
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 16th September 2024 Payment date: 27th September 2024 Dividend yield will be 9.6%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. Buy Or Sell Opportunity • Aug 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to CA$0.92. The fair value is estimated to be CA$1.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to CA$0.92. The fair value is estimated to be CA$1.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Aug 12
Price target decreased by 8.1% to CA$1.21 Down from CA$1.32, the current price target is an average from 4 analysts. New target price is 35% above last closing price of CA$0.90. Stock is down 35% over the past year. The company posted earnings per share of CA$0.026 last year. Reported Earnings • Aug 09
Second quarter 2024 earnings released: CA$0.01 loss per share (vs CA$0.003 loss in 2Q 2023) Second quarter 2024 results: CA$0.01 loss per share (further deteriorated from CA$0.003 loss in 2Q 2023). Revenue: CA$46.6m (up 19% from 2Q 2023). Net loss: CA$4.10m (loss widened 335% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Declared Dividend • Aug 09
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 15th August 2024 Payment date: 30th August 2024 Dividend yield will be 11%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. Announcement • Aug 08
Pine Cliff Energy Ltd. announces Monthly dividend, payable on August 30, 2024 Pine Cliff Energy Ltd. announced Monthly dividend of CAD 0.0050 per share payable on August 30, 2024, ex-date on August 15, 2024 and record date on August 15, 2024. Announcement • Jul 26
Pine Cliff Energy Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Pine Cliff Energy Ltd. announced that they will report Q2, 2024 results After-Market on Aug 08, 2024 Declared Dividend • Jul 08
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 15th July 2024 Payment date: 31st July 2024 Dividend yield will be 10%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. Recent Insider Transactions Derivative • Jun 13
President exercised options to buy CA$409k worth of stock. On the 10th of June, Philip Hodge exercised options to buy 379k shares at a strike price of around CA$0.33, costing a total of CA$125k. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. Since December 2023, Philip's direct individual holding has increased from 10.26m shares to 10.33m. Company insiders have collectively bought CA$617k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Jun 10
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 9.5%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. Price Target Changed • Jun 09
Price target decreased by 8.3% to CA$1.21 Down from CA$1.32, the current price target is an average from 5 analysts. New target price is 14% above last closing price of CA$1.06. Stock is down 26% over the past year. The company is forecast to post a net loss per share of CA$0.01 compared to earnings per share of CA$0.026 last year. Reported Earnings • May 08
First quarter 2024 earnings released: CA$0.01 loss per share (vs CA$0.014 profit in 1Q 2023) First quarter 2024 results: CA$0.01 loss per share (down from CA$0.014 profit in 1Q 2023). Revenue: CA$47.7m (flat on 1Q 2023). Net loss: CA$4.86m (down 198% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Apr 23
CFO & Corporate Secretary exercised options to buy CA$176k worth of stock. On the 19th of April, Alan MacDonald exercised options to buy 176k shares at a strike price of around CA$0.33, costing a total of CA$58k. This transaction amounted to 20% of their direct individual holding at the time of the trade. Since June 2023, Alan has owned 883.69k shares directly. Company insiders have collectively bought CA$605k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 19
Pine Cliff Energy Ltd. to Report Q1, 2024 Results on May 07, 2024 Pine Cliff Energy Ltd. announced that they will report Q1, 2024 results on May 07, 2024 Price Target Changed • Apr 16
Price target decreased by 9.3% to CA$1.37 Down from CA$1.51, the current price target is an average from 5 analysts. New target price is 40% above last closing price of CA$0.98. Stock is down 25% over the past year. The company is forecast to post earnings per share of CA$0 for next year compared to CA$0.026 last year. Declared Dividend • Apr 05
Dividend reduced to CA$0.005 Dividend of CA$0.005 is 54% lower than last year. Ex-date: 12th April 2024 Payment date: 30th April 2024 Dividend yield will be 12%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 461% to bring the payout ratio under control. EPS is expected to grow by 235% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Recent Insider Transactions • Mar 24
Independent Director recently bought CA$78k worth of stock On the 20th of March, Calvin Jacober bought around 80k shares on-market at roughly CA$0.98 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$43k more in shares than they bought in the last 12 months. Announcement • Mar 16
Pine Cliff Energy Ltd., Annual General Meeting, May 16, 2024 Pine Cliff Energy Ltd., Annual General Meeting, May 16, 2024. Declared Dividend • Mar 10
Dividend of CA$0.005 announced Shareholders will receive a dividend of CA$0.005. Ex-date: 14th March 2024 Payment date: 28th March 2024 Dividend yield will be 13%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 461% to bring the payout ratio under control. EPS is expected to grow by 235% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Mar 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 61% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Paying a dividend despite having no free cash flows. High level of non-cash earnings (61% accrual ratio). Minor Risks High level of debt (59% net debt to equity). Profit margins are more than 30% lower than last year (5.2% net profit margin). Price Target Changed • Mar 06
Price target decreased by 7.7% to CA$1.56 Down from CA$1.69, the current price target is an average from 5 analysts. New target price is 53% above last closing price of CA$1.02. Stock is down 25% over the past year. The company is forecast to post earnings per share of CA$0 for next year compared to CA$0.03 last year. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: CA$0.03 (vs CA$0.31 in FY 2022) Full year 2023 results: EPS: CA$0.03 (down from CA$0.31 in FY 2022). Revenue: CA$176.3m (down 36% from FY 2022). Net income: CA$9.12m (down 92% from FY 2022). Profit margin: 5.2% (down from 40% in FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 05
Pine Cliff Energy Ltd. to Report Q4, 2023 Results on Mar 04, 2024 Pine Cliff Energy Ltd. announced that they will report Q4, 2023 results After-Market on Mar 04, 2024 Declared Dividend • Feb 07
Dividend of CA$0.011 announced Shareholders will receive a dividend of CA$0.011. Ex-date: 14th February 2024 Payment date: 29th February 2024 Dividend yield will be 10%, which is higher than the industry average of 5.4%. Sustainability & Growth Dividend is not covered by earnings (134% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 22% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.