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Sierra Metals TSX:SMT Stock Report

Last Price


Market Cap







04 Oct, 2022


Company Financials +
SMT fundamental analysis
Snowflake Score
Future Growth5/6
Past Performance0/6
Financial Health1/6

SMT Stock Overview

Sierra Metals Inc., together with its subsidiaries, focuses on the production, exploration, and development of precious and base metals in Peru and Mexico.

Sierra Metals Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Sierra Metals
Historical stock prices
Current Share PriceCA$0.79
52 Week HighCA$3.19
52 Week LowCA$0.52
1 Month Change33.90%
3 Month Change-22.55%
1 Year Change-72.38%
3 Year Change-45.52%
5 Year Change-75.77%
Change since IPO-82.64%

Recent News & Updates

Shareholder Returns

SMTCA Metals and MiningCA Market

Return vs Industry: SMT underperformed the Canadian Metals and Mining industry which returned -6% over the past year.

Return vs Market: SMT underperformed the Canadian Market which returned -4% over the past year.

Price Volatility

Is SMT's price volatile compared to industry and market?
SMT volatility
SMT Average Weekly Movement10.2%
Metals and Mining Industry Average Movement11.8%
Market Average Movement10.1%
10% most volatile stocks in CA Market18.3%
10% least volatile stocks in CA Market3.8%

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

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

About the Company

19961,440Luis Marchese Montenegro

Sierra Metals Inc., together with its subsidiaries, focuses on the production, exploration, and development of precious and base metals in Peru and Mexico. It primarily focuses on exploration of silver, copper, lead, zinc, and gold deposits. The company’s flagship property is the 81.84% owned polymetallic Yauricocha Mine covering an area of 18,778 hectares located in the Yauyos province in Peru.

Sierra Metals Fundamentals Summary

How do Sierra Metals's earnings and revenue compare to its market cap?
SMT fundamental statistics
Market CapCA$129.51m
Earnings (TTM)-CA$73.81m
Revenue (TTM)CA$312.05m


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SMT income statement (TTM)
Cost of RevenueUS$157.81m
Gross ProfitUS$72.32m
Other ExpensesUS$126.74m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)-0.33
Gross Margin31.42%
Net Profit Margin-23.65%
Debt/Equity Ratio42.3%

How did SMT perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

SMT 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/EBITDA5x
PEG Ration/a

Price to Sales Ratio vs Peers

How does SMT's PS Ratio compare to its peers?

SMT PS Ratio vs Peers
The above table shows the PS ratio for SMT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average0.8x
MNTO Minto Metals
GEO Geodrill
USA Americas Gold and Silver
FAR Foraco International
SMT Sierra Metals

Price-To-Sales vs Peers: SMT is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (0.8x).

Price to Earnings Ratio vs Industry

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

Price-To-Sales vs Industry: SMT is good value based on its Price-To-Sales Ratio (0.4x) compared to the Canadian Metals and Mining industry average (2.2x)

Price to Sales Ratio vs Fair Ratio

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

SMT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio2.9x

Price-To-Sales vs Fair Ratio: SMT is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (2.9x).

Share Price vs Fair Value

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

Below Fair Value: SMT (CA$0.79) is trading above our estimate of fair value (CA$0.47)

Significantly Below Fair Value: SMT is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

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

Future Growth Score


Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SMT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.6%).

Earnings vs Market: SMT is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: SMT is expected to become profitable in the next 3 years.

Revenue vs Market: SMT's revenue (33.6% per year) is forecast to grow faster than the Canadian market (5.7% per year).

High Growth Revenue: SMT's revenue (33.6% per year) 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 SMT's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Sierra Metals performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SMT is currently unprofitable.

Growing Profit Margin: SMT is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: SMT is unprofitable, and losses have increased over the past 5 years at a rate of 16.7% per year.

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

Earnings vs Industry: SMT is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-7.3%).

Return on Equity

High ROE: SMT has a negative Return on Equity (-26.45%), as it is currently unprofitable.

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Financial Health

How is Sierra Metals's financial position?

Financial Health Score


Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: SMT's short term assets ($79.9M) do not cover its short term liabilities ($86.3M).

Long Term Liabilities: SMT's short term assets ($79.9M) do not cover its long term liabilities ($96.9M).

Debt to Equity History and Analysis

Debt Level: SMT's net debt to equity ratio (33.7%) is considered satisfactory.

Reducing Debt: SMT's debt to equity ratio has increased from 35.4% to 42.3% over the past 5 years.

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: Insufficient data to determine if SMT has enough cash runway based on its current free cash flow.

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

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

Dividend Score


Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


Current Dividend Yield

Dividend Yield vs Market

Sierra Metals Dividend Yield vs Market
How does Sierra Metals dividend yield compare to the market?
SegmentDividend Yield
Company (Sierra Metals)5.1%
Market Bottom 25% (CA)1.9%
Market Top 25% (CA)5.9%
Industry Average (Metals and Mining)2.5%
Analyst forecast in 3 Years (Sierra Metals)0%

Notable Dividend: SMT's dividend (5.15%) is higher than the bottom 25% of dividend payers in the Canadian market (1.95%).

High Dividend: SMT's dividend (5.15%) is low compared to the top 25% of dividend payers in the Canadian market (5.99%).

Stability and Growth of Payments

Stable Dividend: SMT's dividend payments have been volatile in the past 10 years.

Growing Dividend: SMT's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: SMT is paying a dividend but the company is unprofitable.

Cash Payout to Shareholders

Cash Flow Coverage: SMT is paying a dividend but the company has no free cash flows.

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


Average management tenure


Luis Marchese Montenegro (55 yo)





Mr. Luis Carlos Marchese Montenegro has been President and Chief Executive Officer at Sierra Metals Inc. since June 1, 2020. He serves as Managing Director and Director of Compania Minera San Ignacio de Mo...

CEO Compensation Analysis

Luis Marchese Montenegro's Compensation vs Sierra Metals Earnings
How has Luis Marchese Montenegro's remuneration changed compared to Sierra Metals's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021US$1mUS$415k


Sep 30 2021n/an/a


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020US$905kUS$214k


Compensation vs Market: Luis's total compensation ($USD1.07M) is above average for companies of similar size in the Canadian market ($USD178.56K).

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

Leadership Team

Experienced Management: SMT's management team is considered experienced (2.3 years average tenure).

Board Members

Experienced Board: SMT's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


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

Insider Trading Volume

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

Recent Insider Transactions

TSX:SMT Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
14 Jul 22BuyCA$10,785Robert NealIndividual12,000CA$0.90
29 Jun 22BuyCA$25,750Dawn WhittakerIndividual25,000CA$1.03
10 Dec 21BuyCA$68,800Jose Vizquerra BenavidesIndividual40,000CA$1.72

Ownership Breakdown

What is the ownership structure of SMT?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders10,984,7996.7%
VC/PE Firms43,742,62426.7%
General Public82,881,83050.6%

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

Top Shareholders

Top 25 shareholders own 49.34% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Arias Resource Capital Management LP
Leon Cooperman
8,700,000$6.9m0%no data
BlackRock, Inc.
7,113,290$5.6m-24.79%no data
Invesco Ltd.
6,885,301$5.4m0%no data
West Family Investments, Inc.
Long Focus Capital Management LLC
ETF Managers Group LLC
Jesus Alberto Arias
717,110$566.5k0%no data
Edmundo Guimaraes
643,223$508.1k0%no data
Douglas Cater
473,452$374.0k0%no data
The Glenmede Trust Company, National Association
459,000$362.6k0%no data
GAMCO Investors, Inc.
455,000$359.5k5.32%no data
KONTOR STÖWER Asset Management GmbH
DZ Bank AG, Asset Management Arm
400,000$316.0k0%no data
Renaissance Technologies LLC
210,900$166.6k-58.71%no data
Morgan Stanley, Investment Banking and Brokerage Investments
196,336$155.1k-30.8%no data
Luis Marchese Montenegro
149,398$118.0k0%no data
Alonso Lujan
132,790$104.9k0%no data
Robert Neal
80,338$63.5k17.56%no data
Millennium Management LLC
74,744$59.0k-69%no data
Connor, Clark & Lunn Investment Management Ltd.
53,800$42.5k-18.24%no data
Baskin Financial Services Inc.
45,711$36.1k98.87%no data
Koko Yamamoto
45,711$36.1k0%no data
UBS Asset Management
42,705$33.7k158.3%no data
Two Sigma Investments, LP
30,746$24.3k-58.57%no data

Company Information

Sierra Metals Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Sierra Metals Inc.
  • Ticker: SMT
  • Exchange: TSX
  • Founded: 1996
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: CA$129.514m
  • Shares outstanding: 163.94m
  • Website:

Number of Employees


  • Sierra Metals Inc.
  • 161 Bay Street
  • Suite 4260
  • Toronto
  • Ontario
  • M5J 2S1
  • Canada


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SMTTSX (The Toronto Stock Exchange)YesCommon SharesCACADOct 1996
SMTBVL (Bolsa de Valores de Lima)YesCommon SharesPEUSDOct 1996
DFXNDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 1996

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/04 00:00
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.