Maverix Metals (TSX:MMX) - Share price, News & Analysis

MMX fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	4/6
Past Performance	2/6
Financial Health	5/6
Dividends	1/6

MMX Stock Overview

Maverix Metals Inc., together with its subsidiaries, operates as a precious metals royalty and streaming company in Canada.

Rewards

Trading at 59.2% below our estimate of its fair value

Earnings are forecast to grow 21.42% per year

Risk Analysis

Profit margins (21.7%) are lower than last year (67.8%)

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year

Maverix Metals Competitors

Nomad Royalty

TSX:NSR

CA$607.2m

Gold Royalty

NYSEAM:GROY

US$423.4m

Metalla Royalty & Streaming

TSXV:MTA

CA$307.9m

Price History & Performance

Summary of all time highs, changes and price drops for Maverix Metals
Historical stock prices
Current Share Price	CA$5.41
52 Week High	CA$7.45
52 Week Low	CA$5.00
Beta	0.52
1 Month Change	-8.31%
3 Month Change	-9.98%
1 Year Change	-25.89%
3 Year Change	2.27%
5 Year Change	98.90%
Change since IPO	106.49%

Recent News & Updates

May 11

Does Maverix Metals (TSE:MMX) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

Shareholder Returns

	MMX	CA Metals and Mining	CA Market
7D	0.2%	4.0%	0.8%
1Y	-25.9%	-7.4%	4.8%

Return vs Industry: MMX underperformed the Canadian Metals and Mining industry which returned -7.4% over the past year.

Return vs Market: MMX underperformed the Canadian Market which returned 4.9% over the past year.

Price Volatility

Is MMX's price volatile compared to industry and market?
MMX volatility
MMX Average Weekly Movement	6.1%
Metals and Mining Industry Average Movement	10.9%
Market Average Movement	9.8%
10% most volatile stocks in CA Market	17.0%
10% least volatile stocks in CA Market	4.4%

Stable Share Price: MMX is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: MMX's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2016	9	Dan O'Flaherty	https://www.maverixmetals.com

Maverix Metals Inc., together with its subsidiaries, operates as a precious metals royalty and streaming company in Canada. The company explores for gold, silver, lead, zinc, copper, nickel, and other metals. It has a portfolio of over 100 royalties and streams in the Americas and Australia.

Maverix Metals Fundamentals Summary

How do Maverix Metals's earnings and revenue compare to its market cap?
MMX fundamental statistics
Market Cap	US$620.91m
Earnings (TTM)	US$12.83m
Revenue (TTM)	US$59.11m

48.4x

P/E Ratio

10.5x

P/S Ratio

Is MMX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MMX income statement (TTM)
Revenue	US$59.11m
Cost of Revenue	US$15.95m
Gross Profit	US$43.15m
Other Expenses	US$30.33m
Earnings	US$12.83m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.087
Gross Margin	73.01%
Net Profit Margin	21.70%
Debt/Equity Ratio	3.3%

How did MMX perform over the long term?

See historical performance and comparison

Dividends

1.2%

Current Dividend Yield

56%

Payout Ratio

Does MMX pay a reliable dividends?

See MMX dividend history and benchmarks

When do you need to buy MMX by to receive an upcoming dividend?
Maverix Metals dividend dates
Ex Dividend Date	May 30 2022
Dividend Pay Date	Jun 15 2022
Days until Ex dividend	7 days
Days until Dividend pay date	23 days

Does MMX pay a reliable dividends?

See MMX dividend history and benchmarks

Valuation

Is Maverix Metals undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: MMX (CA$5.41) is trading below our estimate of fair value (CA$13.25)

Significantly Below Fair Value: MMX is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: MMX is poor value based on its PE Ratio (48.4x) compared to the Canadian Metals and Mining industry average (11x).

PE vs Market: MMX is poor value based on its PE Ratio (48.4x) compared to the Canadian market (11.4x).

Price to Earnings Growth Ratio

PEG Ratio: MMX is poor value based on its PEG Ratio (2.3x)

Price to Book Ratio

PB vs Industry: MMX is good value based on its PB Ratio (1.7x) compared to the CA Metals and Mining industry average (2x).

Future Growth

How is Maverix Metals forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

21.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MMX's forecast earnings growth (21.4% per year) is above the savings rate (1.6%).

Earnings vs Market: MMX's earnings (21.4% per year) are forecast to grow faster than the Canadian market (7.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MMX's revenue (6.6% per year) is forecast to grow faster than the Canadian market (6.4% per year).

High Growth Revenue: MMX's revenue (6.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MMX's Return on Equity is forecast to be low in 3 years time (4.8%).

Past Performance

How has Maverix Metals performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

58.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MMX has high quality earnings.

Growing Profit Margin: MMX's current net profit margins (21.7%) are lower than last year (67.8%).

Past Earnings Growth Analysis

Earnings Trend: MMX has become profitable over the past 5 years, growing earnings by 58.8% per year.

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

Earnings vs Industry: MMX had negative earnings growth (-65.9%) over the past year, making it difficult to compare to the Metals and Mining industry average (-3.8%).

Return on Equity

High ROE: MMX's Return on Equity (3.4%) is considered low.

Financial Health

How is Maverix Metals's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: MMX's short term assets ($36.4M) exceed its short term liabilities ($2.0M).

Long Term Liabilities: MMX's short term assets ($36.4M) exceed its long term liabilities ($18.8M).

Debt to Equity History and Analysis

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

Reducing Debt: Insufficient data to determine if MMX's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: MMX's debt is well covered by operating cash flow (302%).

Interest Coverage: MMX's interest payments on its debt are well covered by EBIT (17.1x coverage).

Balance Sheet

Dividend

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

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.19%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: MMX's dividend (1.19%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.91%).

High Dividend: MMX's dividend (1.19%) is low compared to the top 25% of dividend payers in the Canadian market (4.91%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, MMX has been paying a dividend for less than 10 years.

Growing Dividend: MMX's dividend payments have increased, but the company has only paid a dividend for 3 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (56.4%), MMX's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (223.4%), MMX's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

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

5.0yrs

Average management tenure

CEO

Dan O'Flaherty (39 yo)

5.83yrs

Tenure

US$991,072

Compensation

Mr. Daniel O'Flaherty, also known as Dan, has been Chief Executive Officer at Maverix Metals Inc. since June 17, 2016 and served as President until November 26, 2019. Mr. O'Flaherty was Executive Vice Pres...

CEO Compensation Analysis

Compensation vs Market: Dan's total compensation ($USD991.07K) is below average for companies of similar size in the Canadian market ($USD1.54M).

Compensation vs Earnings: Dan's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: MMX's management team is seasoned and experienced (5 years average tenure).

Board Members

Experienced Board: MMX's board of directors are considered experienced (5 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: MMX insiders have only sold 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 4.3%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/22 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31