Nighthawk Gold (TSX:NHK) - Share price, News & Analysis

NHK fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

NHK Stock Overview

Nighthawk Gold Corp. operates as a gold exploration company in Canada.

Risk Analysis

Earnings have declined by 56.8% per year over past 5 years

Has less than 1 year of cash runway

Shareholders have been substantially diluted in the past year

Makes less than USD$1m in revenue (CA$0)

+ 1 more risk

Nighthawk Gold Competitors

Spanish Mountain Gold

TSXV:SPA

CA$55.3m

Sokoman Minerals

TSXV:SIC

CA$52.5m

Labrador Gold

TSXV:LAB

CA$70.1m

Treasury Metals

TSX:TML

CA$53.8m

Price History & Performance

Summary of all time highs, changes and price drops for Nighthawk Gold
Historical stock prices
Current Share Price	CA$0.42
52 Week High	CA$1.14
52 Week Low	CA$0.40
Beta	0.80
1 Month Change	-27.59%
3 Month Change	-51.72%
1 Year Change	-58.82%
3 Year Change	-85.26%
5 Year Change	-88.65%
Change since IPO	-93.28%

Shareholder Returns

	NHK	CA Metals and Mining	CA Market
7D	-11.6%	-4.6%	0.3%
1Y	-58.8%	-14.8%	-3.7%

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

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

Price Volatility

Is NHK's price volatile compared to industry and market?
NHK volatility
NHK Average Weekly Movement	9.8%
Metals and Mining Industry Average Movement	11.0%
Market Average Movement	10.0%
10% most volatile stocks in CA Market	17.2%
10% least volatile stocks in CA Market	4.4%

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

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

About the Company

Founded	Employees	CEO	Website
2004	3	Keyvan Salehi	https://www.nighthawkgold.com

Nighthawk Gold Corp. operates as a gold exploration company in Canada. It owns a 100% interest in the Indin Lake Gold property, which comprises of Archean gold camp covering an area of 229,791 acres located in the Northwest Territories. The company was formerly known as Merc International Minerals Inc. and changed its name to Nighthawk Gold Corp. in April 2012.

Nighthawk Gold Fundamentals Summary

How do Nighthawk Gold's earnings and revenue compare to its market cap?
NHK fundamental statistics
Market Cap	CA$51.63m
Earnings (TTM)	-CA$28.62m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-1.8x

P/E Ratio

Is NHK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
NHK income statement (TTM)
Revenue	CA$0
Cost of Revenue	CA$0
Gross Profit	CA$0
Other Expenses	CA$28.62m
Earnings	-CA$28.62m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.23
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	0.0%

How did NHK perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book 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 NHK?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for NHK. This is calculated by dividing NHK's market cap by their current preferred multiple.
What is NHK's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CA$51.63m

NHK 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/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does NHK's PB Ratio compare to its peers?

NHK PB Ratio vs Peers

The above table shows the PB ratio for NHK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PB	Estimated Growth	Market Cap
Peer Average	1.5x
SPA Spanish Mountain Gold	0.6x	n/a	CA$55.3m
SIC Sokoman Minerals	3.6x	n/a	CA$52.5m
LAB Labrador Gold	1.5x	n/a	CA$70.1m
TML Treasury Metals	0.3x	n/a	CA$53.8m
NHK Nighthawk Gold	2.2x	n/a	CA$51.6m

Price-To-Book vs Peers: NHK is expensive based on its Price-To-Book Ratio (2.2x) compared to the peer average (1.5x).

Price to Earnings Ratio vs Industry

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

Price-To-Book vs Industry: NHK is expensive based on its Price-To-Book Ratio (2.2x) compared to the Canadian Metals and Mining industry average (1.7x)

Price to Book Ratio vs Fair Ratio

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

NHK PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	2.2x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate NHK's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate NHK's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NHK's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NHK's PEG Ratio to determine if it is good value.

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Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

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

8.5%

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 NHK's forecast earnings growth is above the savings rate (1.6%).

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

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

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

High Growth Revenue: NHK is forecast to have no revenue next year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if NHK's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Nighthawk Gold performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

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

-56.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NHK is currently unprofitable.

Growing Profit Margin: NHK is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: NHK is unprofitable, and losses have increased over the past 5 years at a rate of 56.8% per year.

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

Earnings vs Industry: NHK is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-5.8%).

Return on Equity

High ROE: NHK has a negative Return on Equity (-121.24%), as it is currently unprofitable.

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Financial Health

How is Nighthawk Gold's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: NHK's short term assets (CA$13.4M) exceed its short term liabilities (CA$2.4M).

Long Term Liabilities: NHK's short term assets (CA$13.4M) exceed its long term liabilities (CA$5.0M).

Debt to Equity History and Analysis

Debt Level: NHK is debt free.

Reducing Debt: NHK had no debt 5 years ago.

Balance Sheet

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: NHK has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: NHK has less than a year of cash runway if free cash flow continues to reduce at historical rates of 22.9% each year

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Dividend

What is Nighthawk Gold 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 NHK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

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

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

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

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

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Management

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

1.4yrs

Average management tenure

CEO

Keyvan Salehi

1.42yrs

Tenure

CA$1,096,618

Compensation

Mr. Keyvan Salehi, P.Eng., MBA, has been the President and Chief Executive Officer at Nighthawk Gold Corp. since January 1, 2021 and serves as its Director since June 25, 2021. Mr. Salehi served as a Vice...

CEO Compensation Analysis

Compensation vs Market: Keyvan's total compensation ($USD850.49K) is above average for companies of similar size in the Canadian market ($USD174.83K).

Compensation vs Earnings: Keyvan's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: NHK's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.

Board Members

Experienced Board: NHK's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.

Ownership

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

Insider Trading Volume

Insider Buying: NHK 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 57.9%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/29 00:00
End of Day Share Price	2022/06/29 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31