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MND

Mandalay Resources TSX:MND Stock Report

Last Price

CA$2.80

Market Cap

CA$258.3m

7D

-3.4%

1Y

-9.1%

Updated

29 Jun, 2022

Data

Company Financials +
MND fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance3/6
Financial Health6/6
Dividends0/6

MND Stock Overview

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

Mandalay Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mandalay Resources
Historical stock prices
Current Share PriceCA$2.80
52 Week HighCA$3.86
52 Week LowCA$1.82
Beta1.86
1 Month Change-10.26%
3 Month Change-12.23%
1 Year Change-9.09%
3 Year Change125.81%
5 Year Change-20.00%
Change since IPO-92.43%

Recent News & Updates

Jun 18
Why We Like The Returns At Mandalay Resources (TSE:MND)

Why We Like The Returns At Mandalay Resources (TSE:MND)

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...

Shareholder Returns

MNDCA Metals and MiningCA Market
7D-3.4%-4.6%0.3%
1Y-9.1%-14.8%-3.7%

Return vs Industry: MND exceeded the Canadian Metals and Mining industry which returned -12.1% over the past year.

Return vs Market: MND underperformed the Canadian Market which returned -2.9% over the past year.

Price Volatility

Is MND's price volatile compared to industry and market?
MND volatility
MND Average Weekly Movement10.2%
Metals and Mining Industry Average Movement11.0%
Market Average Movement10.0%
10% most volatile stocks in CA Market17.2%
10% least volatile stocks in CA Market4.4%

Stable Share Price: MND is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: MND's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1997n/aDominic Duffyhttps://www.mandalayresources.com

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties. It explores for gold, silver, and antimony deposits. The company primarily holds 100% interests in the Costerfield gold-antimony mine located in Central Victoria, Australia; and the Björkdal gold mine located in Västerbotten County in northern Sweden.

Mandalay Resources Fundamentals Summary

How do Mandalay Resources's earnings and revenue compare to its market cap?
MND fundamental statistics
Market CapUS$200.29m
Earnings (TTM)US$39.86m
Revenue (TTM)US$230.98m

5.0x

P/E Ratio

0.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MND income statement (TTM)
RevenueUS$230.98m
Cost of RevenueUS$105.16m
Gross ProfitUS$125.82m
Other ExpensesUS$85.96m
EarningsUS$39.86m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.43
Gross Margin54.47%
Net Profit Margin17.26%
Debt/Equity Ratio21.7%

How did MND perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is MND undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MND?

Other financial metrics that can be useful for relative valuation.

MND key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA1.6x
PEG Ratio1.5x

Price to Earnings Ratio vs Peers

How does MND's PE Ratio compare to its peers?

MND PE Ratio vs Peers
The above table shows the PE ratio for MND vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average47.3x
JAG Jaguar Mining
7.5xn/aCA$214.5m
AR Argonaut Gold
23.9x134.0%CA$158.1m
MKO Mako Mining
146.4xn/aCA$187.5m
RBX Robex Resources
11.6xn/aCA$216.5m
MND Mandalay Resources
5x3.4%CA$258.3m

Price-To-Earnings vs Peers: MND is good value based on its Price-To-Earnings Ratio (5x) compared to the peer average (47.3x).


Price to Earnings Ratio vs Industry

How does MND's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

Price-To-Earnings vs Industry: MND is good value based on its Price-To-Earnings Ratio (5x) compared to the Canadian Metals and Mining industry average (10.9x)


Price to Earnings Ratio vs Fair Ratio

What is MND's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MND PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5x
Fair PE Ratio8.8x

Price-To-Earnings vs Fair Ratio: MND is good value based on its Price-To-Earnings Ratio (5x) compared to the estimated Fair Price-To-Earnings Ratio (8.8x).


Share Price vs Fair Value

What is the Fair Price of MND when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MND (CA$2.8) is trading below our estimate of fair value (CA$28.48)

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


Price to Earnings Growth Ratio

PEG Ratio: MND is poor value based on its PEG Ratio (1.5x)


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Future Growth

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

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MND's forecast earnings growth (3.4% per year) is above the savings rate (1.6%).

Earnings vs Market: MND's earnings (3.4% per year) are forecast to grow slower than the Canadian market (7.3% per year).

High Growth Earnings: MND's earnings are forecast to grow, but not significantly.

Revenue vs Market: MND's revenue (0.3% per year) is forecast to grow slower than the Canadian market (6.6% per year).

High Growth Revenue: MND's revenue (0.3% per year) is forecast to grow slower 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


Discover growth companies

Past Performance

How has Mandalay Resources performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


54.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MND has a large one-off loss of $17.8M impacting its March 31 2022 financial results.

Growing Profit Margin: MND's current net profit margins (17.3%) are lower than last year (20.2%).


Past Earnings Growth Analysis

Earnings Trend: MND has become profitable over the past 5 years, growing earnings by 54.3% per year.

Accelerating Growth: MND's earnings growth over the past year (3.8%) is below its 5-year average (54.3% per year).

Earnings vs Industry: MND earnings growth over the past year (3.8%) exceeded the Metals and Mining industry -5.8%.


Return on Equity

High ROE: MND's Return on Equity (21.5%) is considered high.


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Financial Health

How is Mandalay Resources's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MND's short term assets ($122.3M) exceed its short term liabilities ($105.9M).

Long Term Liabilities: MND's short term assets ($122.3M) exceed its long term liabilities ($32.9M).


Debt to Equity History and Analysis

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

Reducing Debt: MND's debt to equity ratio has reduced from 28.2% to 21.7% over the past 5 years.

Debt Coverage: MND's debt is well covered by operating cash flow (216.1%).

Interest Coverage: MND's interest payments on its debt are well covered by EBIT (23.9x coverage).


Balance Sheet


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

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 recent payouts.

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


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MND has not reported any payouts.


Discover strong dividend paying companies

Management

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

4.7yrs

Average management tenure


CEO

Dominic Duffy (45 yo)

4.08yrs

Tenure

US$1,236,333

Compensation

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


CEO Compensation Analysis

Compensation vs Market: Dominic's total compensation ($USD1.24M) is above average for companies of similar size in the Canadian market ($USD729.45K).

Compensation vs Earnings: Dominic's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: MND's management team is considered experienced (4.7 years average tenure).


Board Members

Experienced Board: MND's board of directors are considered experienced (6.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: MND insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Mandalay Resources Corporation
  • Ticker: MND
  • Exchange: TSX
  • Founded: 1997
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: CA$258.254m
  • Shares outstanding: 92.23m
  • Website: https://www.mandalayresources.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.