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Mandalay Resources

TSX:MND
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MND
TSX
CA$96M
Market Cap
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Last updated 2019/04/21 23:38
Company description

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties. The last earnings update was 38 days ago. More info.

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  • Mandalay Resources has significant price volatility in the past 3 months.
MND Share Price and Events
7 Day Returns
0%
TSX:MND
-2.4%
CA Metals and Mining
0.8%
CA Market
1 Year Returns
-52.3%
TSX:MND
-9.3%
CA Metals and Mining
3.9%
CA Market
MND Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mandalay Resources (MND) 0% -12.5% -8.7% -52.3% -89.5% -88.9%
CA Metals and Mining -2.4% -3.7% 8.3% -9.3% -4.6% -20.1%
CA Market 0.8% 2.3% 7.8% 3.9% 15.4% 7.5%
1 Year Return vs Industry and Market
  • MND underperformed the Metals and Mining industry which returned -9.3% over the past year.
  • MND underperformed the Market in Canada which returned 3.9% over the past year.
Price Volatility
MND
Industry
5yr Volatility vs Market

MND Value

 Is Mandalay Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mandalay Resources to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mandalay Resources.

TSX:MND Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:MND
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.21
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.207 (1 + (1- 26.5%) (85.62%)) 		1.648
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.65
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.648 * 5.96%) 		11.77%

Discounted Cash Flow Calculation for TSX:MND using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mandalay Resources is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:MND DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.77%)
2019 -24.00 Analyst x1 -21.47
2020 45.00 Analyst x1 36.02
2021 68.61 Est @ 52.47% 49.14
2022 94.21 Est @ 37.31% 60.37
2023 119.37 Est @ 26.7% 68.44
2024 142.38 Est @ 19.28% 73.03
2025 162.43 Est @ 14.08% 74.54
2026 179.38 Est @ 10.44% 73.65
2027 193.54 Est @ 7.89% 71.10
2028 205.36 Est @ 6.11% 67.49
Present value of next 10 years cash flows $552.30
TSX:MND DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $205.36 × (1 + 1.95%) ÷ (11.77% – 1.95%) 		$2,131.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,131.32 ÷ (1 + 11.77%)10 		$700.49
TSX:MND Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $552.30 + $700.49 		$1,252.79
Equity Value per Share
(USD)		 = Total value / Shares Outstanding
= $1,252.79 / 910.36 		$1.38
TSX:MND Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:MND) 		1.339
Value per Share
(CAD)		 = Value per Share in USD x Exchange Rate (USD/CAD)
= $1.38 x 1.339 		CA$1.84
Value per share (CAD) From above. CA$1.84
Current discount Discount to share price of CA$0.11
= -1 x (CA$0.11 - CA$1.84) / CA$1.84 		94.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Mandalay Resources is available for.
Intrinsic value
>50%
Share price is CA$0.11 vs Future cash flow value of CA$1.84
Current Discount Checks
For Mandalay Resources to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mandalay Resources's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mandalay Resources's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mandalay Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mandalay Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:MND PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.14
TSX:MND Share Price ** TSX (2019-04-18) in CAD CA$0.11
TSX:MND Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.747 $0.08
Canada Metals and Mining Industry PE Ratio Median Figure of 114 Publicly-Listed Metals and Mining Companies 13.48x
Canada Market PE Ratio Median Figure of 557 Publicly-Listed Companies 15.08x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mandalay Resources.

TSX:MND PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:MND Share Price ÷ EPS (both in USD)

= 0.08 ÷ -0.14

 -0.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mandalay Resources is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Mandalay Resources is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Mandalay Resources's expected growth come at a high price?
Raw Data
TSX:MND PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts		 Not available
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.73x
Canada Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Mandalay Resources, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mandalay Resources's assets?
Raw Data
TSX:MND PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.21
TSX:MND Share Price * TSX (2019-04-18) in CAD CA$0.11
TSX:MND Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.747 $0.08
Canada Metals and Mining Industry PB Ratio Median Figure of 1,086 Publicly-Listed Metals and Mining Companies 1.3x
Canada Market PB Ratio Median Figure of 2,379 Publicly-Listed Companies 1.5x
TSX:MND PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:MND Share Price ÷ Book Value per Share (both in USD)

= 0.08 ÷ 0.21

 0.37x

* Primary Listing of Mandalay Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mandalay Resources is good value based on assets compared to the CA Metals and Mining industry average.
Show me more potentially undervalued companies in the Metals and Mining industry
X
Value checks
We assess Mandalay Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
    5. Mandalay Resources has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MND Future Performance

 How is Mandalay Resources expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
20.2%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Mandalay Resources expected to grow at an attractive rate?
  • Mandalay Resources is expected to become profitable in the next 1-3 years, this is considered above the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Unable to compare Mandalay Resources's earnings growth to the Canada market average as no estimate data is available.
  • Mandalay Resources's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:MND Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:MND Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 20.2%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 36.4%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 18%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:MND Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:MND Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 167 63 1
2019-12-31 129 34 3 1
TSX:MND Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 112 24 -64
2018-09-30 128 32 -55
2018-06-30 141 38 -55
2018-03-31 157 39 -42
2017-12-31 163 27 -43
2017-09-30 157 28 -45
2017-06-30 170 34 -37
2017-03-31 180 47 -24
2016-12-31 186 47 -20
2016-09-30 197 54 2
2016-06-30 192 53 3
2016-03-31 188 52 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mandalay Resources is expected to become profitable in the next 1-3 years, this is considered high growth.
  • Mandalay Resources's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:MND Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Mandalay Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:MND Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
TSX:MND Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.14
2018-09-30 -0.12
2018-06-30 -0.12
2018-03-31 -0.09
2017-12-31 -0.09
2017-09-30 -0.10
2017-06-30 -0.08
2017-03-31 -0.05
2016-12-31 -0.05
2016-09-30 0.01
2016-06-30 0.01
2016-03-31 0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mandalay Resources is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
Show me more growth companies in the Metals and Mining industry
X
Future performance checks
We assess Mandalay Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mandalay Resources has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MND Past Performance

  How has Mandalay Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mandalay Resources's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mandalay Resources does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Mandalay Resources's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Mandalay Resources's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Mandalay Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mandalay Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:MND Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 112.17 -63.72 6.64
2018-09-30 127.55 -55.49 6.91
2018-06-30 141.19 -55.20 8.02
2018-03-31 157.37 -41.59 8.12
2017-12-31 163.00 -42.71 8.29
2017-09-30 157.30 -45.18 9.10
2017-06-30 170.43 -37.45 10.00
2017-03-31 180.47 -23.73 10.29
2016-12-31 185.54 -20.23 10.03
2016-09-30 196.80 2.20 11.53
2016-06-30 191.54 3.26 11.00
2016-03-31 188.16 4.05 10.45
2015-12-31 194.50 14.67 10.30
2015-09-30 217.83 25.36 11.19
2015-06-30 209.22 23.06 11.58
2015-03-31 203.32 23.59 12.30
2014-12-31 184.63 17.58 12.55
2014-09-30 156.71 14.42 10.27
2014-06-30 172.36 26.11 9.70
2014-03-31 163.37 24.28 9.18
2013-12-31 166.91 29.44 9.66
2013-09-30 183.55 47.38 8.35
2013-06-30 182.08 45.40 9.42
2013-03-31 192.71 61.54 10.03
2012-12-31 171.81 41.71 9.15
2012-09-30 140.34 20.29 11.52
2012-06-30 118.45 24.46 10.79

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Mandalay Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Mandalay Resources has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Mandalay Resources improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Mandalay Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mandalay Resources has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MND Health

 How is Mandalay Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mandalay Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mandalay Resources's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Mandalay Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Mandalay Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mandalay Resources Company Filings, last reported 3 months ago.

TSX:MND Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 96.14 61.12 8.40
2018-09-30 127.01 61.88 26.66
2018-06-30 135.15 45.33 15.48
2018-03-31 164.66 44.18 23.41
2017-12-31 165.54 45.64 16.94
2017-09-30 189.38 44.99 24.85
2017-06-30 193.25 29.63 18.36
2017-03-31 202.75 59.13 58.86
2016-12-31 203.04 58.99 66.92
2016-09-30 239.14 58.99 74.57
2016-06-30 212.10 58.87 45.67
2016-03-31 214.93 58.00 40.74
2015-12-31 207.69 57.90 49.20
2015-09-30 216.50 57.30 49.65
2015-06-30 223.88 57.41 52.30
2015-03-31 219.32 56.46 51.95
2014-12-31 220.02 56.39 49.00
2014-09-30 215.41 57.11 45.23
2014-06-30 175.21 52.46 69.03
2014-03-31 170.29 0.00 20.00
2013-12-31 153.58 0.00 33.47
2013-09-30 155.15 0.00 27.68
2013-06-30 145.04 0.00 23.90
2013-03-31 152.27 0.00 26.64
2012-12-31 143.08 0.00 17.26
2012-09-30 122.22 0.95 6.45
2012-06-30 113.51 9.43 11.22
  • Mandalay Resources's level of debt (63.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 63.6% today).
  • Debt is well covered by operating cash flow (39.1%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Mandalay Resources's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Mandalay Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Mandalay Resources has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MND Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Mandalay Resources dividends. Estimated to be 0% next year.
If you bought CA$2,000 of Mandalay Resources shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Mandalay Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Mandalay Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:MND Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.4%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:MND Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31 0.00 1.00
TSX:MND Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-14 0.000 0.000
2018-11-07 0.000 0.000
2018-08-08 0.000 0.000
2018-05-09 0.000 0.000
2018-02-22 0.000 0.000
2017-11-08 0.000 0.000
2017-08-10 0.000 0.000
2017-02-16 0.024 6.656
2016-02-18 0.027 3.879
2015-02-17 0.023 4.183
2014-02-18 0.025 3.292
2013-08-12 0.025 3.425
2013-05-14 0.029 3.856
2013-02-20 0.039 3.979
2012-11-08 0.039 3.710

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Mandalay Resources has not reported any payouts.
  • Unable to verify if Mandalay Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Mandalay Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Mandalay Resources has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Mandalay Resources's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Mandalay Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mandalay Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Mandalay Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MND Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dominic Duffy
COMPENSATION $393,444
TENURE AS CEO 0.9 years
CEO Bio

Mr. Dominic Duffy has been President, Chief Executive Officer and Director at Mandalay Resources Corporation since May 14, 2018. He served as Chief Operating Officer at Mandalay Resources Corporation since March 18, 2013 until May 14, 2018. Mr. Duffy served as a General Manager of Cerro Bayo at Mandalay Resources Corp. until March 19, 2013. He has 20 years of extensive technical and operational management experience, having worked at numerous operations throughout Australia and Latin America. Prior to joining Mandalay, he has most recently worked for Coeur d’Alene Mines and Hecla Mining Company in South America. Mr. Duffy holds a B.Eng. in Mining Engineering from the University of New South Wales (Sydney, Australia).

CEO Compensation
  • Dominic's compensation has been consistent with company performance over the past year.
  • Dominic's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Mandalay Resources management team in years:

2
Average Tenure
  • The tenure for the Mandalay Resources management team is about average.
Management Team

Brad Mills

TITLE
Executive Chairman
COMPENSATION
$468K
AGE
64

Dominic Duffy

TITLE
President
COMPENSATION
$393K
TENURE
0.9 yrs

Belinda Labatte

TITLE
Chief Development Officer
COMPENSATION
$312K
AGE
42
TENURE
2 yrs

Nicholas Dwyer

TITLE
Chief Financial Officer
TENURE
0.7 yrs

Greg DiTomaso

TITLE
Director of Investor Relations
TENURE
4.3 yrs

Jasmine Virk

TITLE
Director of Corporate Affairs & Corporate Secretary
TENURE
2 yrs
Board of Directors Tenure

Average tenure and age of the Mandalay Resources board of directors in years:

3.1
Average Tenure
63.5
Average Age
  • The tenure for the Mandalay Resources board of directors is about average.
Board of Directors

Brad Mills

TITLE
Executive Chairman
COMPENSATION
$468K
AGE
64
TENURE
3.1 yrs

Dominic Duffy

TITLE
President
COMPENSATION
$393K
TENURE
0.9 yrs

Rob Doyle

TITLE
Director
COMPENSATION
$54K
AGE
63
TENURE
9 yrs

Peter Jones

TITLE
Independent Director
COMPENSATION
$16K
AGE
70
TENURE
8.7 yrs

Braam Jonker

TITLE
Lead Independent Director
COMPENSATION
$54K
AGE
50
TENURE
3.1 yrs

Amy Freedman

TITLE
Director
COMPENSATION
$54K
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • Mandalay Resources insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
27. Mar 19 Sell Plinian Capital LLP Company 26. Mar 19 26. Mar 19 -12,051,501 CA$0.12 CA$-1,446,181
27. Mar 19 Sell Bradford Mills Individual 26. Mar 19 26. Mar 19 -11,650,000 CA$0.12 CA$-1,398,001
26. Mar 19 Buy GMT Capital Corp. Company 26. Mar 19 26. Mar 19 16,737,400 CA$0.09 CA$1,506,367
26. Feb 19 Buy GMT Capital Corp. Company 26. Feb 19 26. Feb 19 16,242,500 CA$0.11 CA$1,713,376
20. Feb 19 Buy GMT Capital Corp. Company 19. Feb 19 19. Feb 19 49,875,000 CA$0.12 CA$5,950,601
20. Nov 18 Buy Abraham Jonker Individual 16. Nov 18 19. Nov 18 865,000 CA$0.06 CA$51,908
X
Management checks
We assess Mandalay Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Mandalay Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MND News

Simply Wall St News

What Kind Of Shareholder Appears On The Mandalay Resources Corporation's (TSE:MND) Shareholder Register?

If you want to know who really controls Mandalay Resources Corporation (TSE:MND), then you'll have to look at the makeup of its share registry. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … institutions are noticeable on the share registry.

Simply Wall St - –

Have Insiders Been Buying Mandalay Resources Corporation (TSE:MND) Shares This Year?

So shareholders might well want to know whether insiders have been buying or selling shares in Mandalay Resources Corporation (TSE:MND). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At Mandalay Resources

Simply Wall St - –

What Investors Should Know About Mandalay Resources Corporation's (TSE:MND) Financial Strength

Mandalay Resources Corporation (TSE:MND) is a small-cap stock with a market capitalization of CA$38m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St - –

Should You Be Concerned About Mandalay Resources Corporation's (TSE:MND) Investors?

I am going to take a deep dive into Mandalay Resources Corporation’s (TSE:MND) most recent ownership structure, not a frequent subject of discussion among individual investors. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … TSX:MND Ownership Summary August 1st 18

Simply Wall St - –

MND Company Info

Description

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties. It explores for gold, silver, and antimony deposits. The company holds a 100% interest in the Costerfield gold-antimony mine covering an area of 7,540.78 hectares (ha) located in Central Victoria, Australia; and the Björkdal gold mine that comprises 9 mining concessions and 19 exploration permits located in Västerbotten County in northern Sweden. It also holds a 100% interest in the Cerro Bayo silver-gold mine covering 29,495 ha of exploitation concessions and 45 hectares of exploration concessions located in the Cerro Bayo district, southern Chile. In addition, the company holds a 100% interest in the Challacollo silver-gold project, which includes 98 mining exploitation concessions covering an area of 20,378 ha located to the southeast of the port city of Iquique, Chile. Mandalay Resources Corporation was incorporated in 1997 and is headquartered in Toronto, Canada.

Details
Name: Mandalay Resources Corporation
MND
Exchange: TSX
Founded: 1997
CA$95,587,678
910,358,840
Website: http://www.mandalayresources.com
Address: Mandalay Resources Corporation
76 Richmond Street East,
Suite 330,
Toronto,
Ontario, M5C 1P1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX MND Common Shares The Toronto Stock Exchange CA CAD 28. Mar 2001
OTCPK MNDJ.F Common Shares Pink Sheets LLC US USD 28. Mar 2001
DB R7X1 Common Shares Deutsche Boerse AG DE EUR 28. Mar 2001
Number of employees
Current staff
Staff numbers
460
Mandalay Resources employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 23:38
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/10
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.

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