TSX:MND

Stock Analysis Report

Mandalay Resources

Executive Summary

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties.


Snowflake Analysis

Fair value with worrying balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: MND's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.0%

MND

6.7%

CA Metals and Mining

11.7%

CA Market


1 Year Return

-40.9%

MND

-10.8%

CA Metals and Mining

-26.0%

CA Market

Return vs Industry: MND underperformed the Canadian Metals and Mining industry which returned -11.6% over the past year.

Return vs Market: MND underperformed the Canadian Market which returned -25.5% over the past year.


Shareholder returns

MNDIndustryMarket
7 Day3.0%6.7%11.7%
30 Day47.8%-8.8%-21.9%
90 Day-37.0%-17.2%-26.6%
1 Year-40.9%-40.9%-10.2%-10.8%-23.6%-26.0%
3 Year-88.5%-88.7%-17.5%-19.0%-15.8%-23.6%
5 Year-90.9%-91.7%5.1%2.1%-3.5%-17.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Mandalay 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

Below Fair Value: MND (CA$0.68) is trading below our estimate of fair value (CA$6.08)

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


Price To Earnings Ratio

PE vs Industry: MND is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: MND 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 MND's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MND is good value based on its PB Ratio (0.4x) compared to the CA Metals and Mining industry average (1.1x).


Next Steps

Future Growth

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

11.5%

Forecasted Materials industry annual growth in earnings


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MND's forecast earnings growth is above the savings rate (1.4%).

Earnings vs Market: Insufficient data to determine if MND's earnings are forecast to grow faster than the Canadian market

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

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

High Growth Revenue: Insufficient data to determine if MND'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 MND's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Mandalay Resources performed over the past 5 years?

-54.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MND is currently unprofitable.

Growing Profit Margin: MND is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MND is unprofitable, and losses have increased over the past 5 years at a rate of -54.5% per year.

Accelerating Growth: Unable to compare MND's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MND is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (16.5%).


Return on Equity

High ROE: MND has a negative Return on Equity (-16.69%), as it is currently unprofitable.


Next Steps

Financial Health

How is Mandalay Resources's financial position?


Financial Position Analysis

Short Term Liabilities: MND's short term assets ($61.6M) do not cover its short term liabilities ($104.0M).

Long Term Liabilities: MND's short term assets ($61.6M) exceed its long term liabilities ($42.8M).


Debt to Equity History and Analysis

Debt Level: MND's debt to equity ratio (56.6%) is considered high.

Reducing Debt: MND's debt to equity ratio has increased from 25% to 56.6% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: MND's debt is not 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: MND has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if MND has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate MND'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 MND's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MND's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MND is not paying a notable dividend for the Canadian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MND'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?

2.4yrs

Average management tenure


CEO

Dominic Duffy (43yo)

1.83s

Tenure

US$396,454

Compensation

Mr. Dominic Duffy has been President, Chief Executive Officer and Non-Independent Director at Mandalay Resources Corporation since May 14, 2018. He served as Chief Operating Officer at Mandalay Resources C ...


CEO Compensation Analysis

Compensation vs Market: Dominic's total compensation ($USD396.45K) is above average for companies of similar size in the Canadian market ($USD158.04K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Dominic Duffy
President1.83yrsUS$396.45k0.033% $20.4k
Nicholas Dwyer
Chief Financial Officer1.58yrsUS$106.19kno data
Belinda Labatte
Chief Development Officer2.92yrsUS$286.34k0.00063% $390.2
Greg DiTomaso
Director of Investor Relations5.17yrsno datano data
Chris Davis
Vice President of Operational Geology & Exploration0.17yrno datano data
Jasmine Virk
Director of Corporate Affairs & Corporate Secretary2.92yrsno datano data

2.4yrs

Average Tenure

Experienced Management: MND's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Dominic Duffy
President1.83yrsUS$396.45k0.033% $20.4k
Terrell Ackerman
Non-Independent Director0.75yrno datano data
Robert Doyle
Independent Director9.92yrsUS$54.56k0.12% $72.2k
Bradford Mills
Chairman4yrsUS$317.66kno data
Peter Jones
Independent Director9.58yrsUS$58.34k0.075% $46.8k
Abraham Jonker
Lead Independent Director4yrsUS$50.66k0.16% $98.1k
Amy Freedman
Independent Director3.83yrsUS$50.59k0.029% $17.7k

4.0yrs

Average Tenure

64yo

Average Age

Experienced Board: MND's board of directors are considered experienced (4 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: MND insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 77.4%.


Top Shareholders

Company Information

Mandalay Resources Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Mandalay Resources Corporation
  • Ticker: MND
  • Exchange: TSX
  • Founded: 1997
  • Industry: Gold
  • Sector: Materials
  • Market Cap: CA$61.942m
  • Shares outstanding: 91.09m
  • Website: https://www.mandalayresources.com

Number of Employees


Location

  • Mandalay Resources Corporation
  • 76 Richmond Street East
  • Suite 330
  • Toronto
  • Ontario
  • M5C 1P1
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MNDTSX (The Toronto Stock Exchange)YesCommon SharesCACADMar 2001
MNDJ.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDMar 2001
R7X2DB (Deutsche Boerse AG)YesCommon SharesDEEURMar 2001
R7X2BST (Boerse-Stuttgart)YesCommon SharesDEEURMar 2001

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 00:40
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.