Executive Summary
Midas Gold Corp. engages in the mineral exploration activities in the United States.
Risk Analysis
Earnings are forecast to decline by an average of -130.7% per year for the next 3 years
Currently unprofitable and not forecast to become profitable over the next 3 years
+ 1 more risk
Snowflake Analysis
Worrying balance sheet with weak fundamentals.
Share Price & News
How has Midas Gold's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MAX's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-3.6%
MAX
2.8%
CA Metals and Mining
0.6%
CA Market
1 Year Return
-39.3%
MAX
4.3%
CA Metals and Mining
5.8%
CA Market
Return vs Industry: MAX underperformed the Canadian Metals and Mining industry which returned 3.7% over the past year.
Return vs Market: MAX underperformed the Canadian Market which returned 5.6% over the past year.
Shareholder returns
| MAX | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.6% | 2.8% | 0.6% |
| 30 Day | -14.3% | 1.3% | 0.6% |
| 90 Day | -3.6% | 6.0% | 3.5% |
| 1 Year | -39.3%-39.3% | 4.9%4.3% | 9.1%5.8% |
| 3 Year | -41.9%-41.9% | -10.6%-12.1% | 15.4%5.0% |
| 5 Year | 5.9%5.9% | 22.6%19.0% | 33.5%13.9% |
Price Volatility Vs. Market
How volatile is Midas Gold's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
What Kind Of Shareholders Own Midas Gold Corp. (TSE:MAX)?4 months ago | Simply Wall St
How Much Of Midas Gold Corp. (TSE:MAX) Do Institutions Own?7 months ago | Simply Wall St
What Kind Of Shareholders Own Midas Gold Corp. (TSE:MAX)?Valuation
Is Midas Gold undervalued compared to its fair value and its price relative to the market?
2.53x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate MAX's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate MAX's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: MAX is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.
PE vs Market: MAX is unprofitable, so we can't compare its PE Ratio to the Canadian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MAX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MAX is overvalued based on its PB Ratio (2.5x) compared to the CA Metals and Mining industry average (1.5x).
Next Steps
Future Growth
How is Midas Gold forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-130.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MAX is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: MAX is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: MAX is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: Insufficient data to determine if MAX's revenue is forecast to grow faster than the Canadian market.
High Growth Revenue: Insufficient data to determine if MAX's revenue is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MAX's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Midas Gold performed over the past 5 years?
-17.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MAX is currently unprofitable.
Growing Profit Margin: MAX is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: MAX is unprofitable, and losses have increased over the past 5 years at a rate of -17.9% per year.
Accelerating Growth: Unable to compare MAX's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: MAX is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (11.9%).
Return on Equity
High ROE: MAX has a negative Return on Equity (-13.26%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Midas Gold's financial position?
Financial Position Analysis
Short Term Liabilities: MAX's short term assets ($26.4M) exceed its short term liabilities ($4.2M).
Long Term Liabilities: MAX's short term assets ($26.4M) do not cover its long term liabilities ($50.5M).
Debt to Equity History and Analysis
Debt Level: MAX's debt to equity ratio (59.8%) is considered high.
Reducing Debt: MAX's debt to equity ratio has increased from 0.09% to 59.8% over the past 5 years.
Balance Sheet
Inventory Level: MAX has a high level of physical assets or inventory.
Debt Coverage by Assets: MAX's debt is covered by short term assets (assets are 1x debt).
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: MAX has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: MAX has less than a year of cash runway if free cash flow continues to reduce at historical rates of -4.3% each year
Next Steps
Dividend
What is Midas Gold's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate MAX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate MAX'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 MAX's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if MAX'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 MAX's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.8yrs
Average management tenure
CEO
Steve Quin (59yo)
9yrs
Tenure
US$414,517
Compensation
Mr. Stephen Paul Quin, also known as Steve, P. Geo., is a Mining Geologist with experience in the mining and exploration industry. He is based in Vancouver, Canada, and has been the President and Chief Exe ...
CEO Compensation Analysis
Compensation vs Market: Steve's total compensation ($USD312.79K) is above average for companies of similar size in the Canadian market ($USD157.05K).
Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 9yrs | US$414.52k | 0.52% $768.0k | |
| Chief Financial Officer | 8.8yrs | US$318.48k | 0.026% $37.8k | |
| Vice President of Development | 7.1yrs | US$390.15k | no data | |
| Manager of Investor Relations & Corporate Secretary | 8.7yrs | no data | no data | |
| Exploration Manager | 8.8yrs | US$1.76m | 0.13% $187.6k | |
| Consultant | 0yrs | no data | no data |
8.8yrs
Average Tenure
Experienced Management: MAX's management team is seasoned and experienced (8.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 9yrs | US$414.52k | 0.52% $768.0k | |
| Independent Chairman | 8.8yrs | US$73.45k | 0.068% $99.9k | |
| Independent Director | 1.5yrs | US$51.47k | no data | |
| Independent Director | 8.8yrs | US$62.53k | 0.000040% $58.6 | |
| Independent Director | 5.3yrs | US$64.91k | 0.011% $15.4k | |
| Director | 3.9yrs | no data | no data | |
| Director | 1.9yrs | no data | no data | |
| Director | 1.1yrs | no data | no data |
4.6yrs
Average Tenure
56.5yo
Average Age
Experienced Board: MAX's board of directors are considered experienced (4.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MAX insiders have bought and sold the same number of shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 32.1%.
Top Shareholders
Company Information
Midas Gold Corp.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Midas Gold Corp.
- Ticker: MAX
- Exchange: TSX
- Founded: 2011
- Industry: Gold
- Sector: Materials
- Market Cap: CA$146.408m
- Shares outstanding: 271.13m
- Website: https://www.midasgoldcorp.com
Number of Employees
Location
- Midas Gold Corp.
- 999 West Hastings Street
- Suite 890
- Vancouver
- British Columbia
- V6C 2W2
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MAX | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Jul 2011 |
| 9MI | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 2011 |
| MDRP.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Jul 2011 |
| 0V6R | LSE (London Stock Exchange) | Yes | Common Shares | GB | CAD | Jul 2011 |
Biography
Midas Gold Corp. engages in the mineral exploration activities in the United States. It primarily explores for gold, antimony, and silver deposits. The company’s principal asset is the Stibnite gold project, which is located in Valley County, Idaho. Gold Corp. was incorporated in 2011 and is headquartered in Vancouver, Canada.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/16 01:43 |
| End of Day Share Price | 2020/02/14 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.