Bear Creek Mining Valuation

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

BCM (CA$0.4) is trading below our estimate of [[fair value]] (CA$0.45)

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: BCM (CA$0.4) is trading below our estimate of fair value (CA$0.45)

Significantly Below Fair Value: BCM is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As BCM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BCM. This is calculated by dividing BCM's market cap by their current revenue.
What is BCM's PS Ratio?
PS Ratio	0.7x
Sales	US$94.65m
Market Cap	US$61.14m

BCM 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	1.4x
Enterprise Value/EBITDA	10.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BCM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	5.3x
GSVR Guanajuato Silver	1x	11.3%	CA$96.8m
EMPR Empress Royalty	4.8x	n/a	CA$43.3m
VOXR Vox Royalty	12.5x	33.7%	CA$189.2m
ASM Avino Silver & Gold Mines	3x	11.3%	CA$220.6m
BCM Bear Creek Mining	0.7x	n/a	CA$85.4m

Price-To-Sales vs Peers: BCM is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (5.3x).

Price to Sales Ratio vs Industry

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

84 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	2.9x	16.5%
BCM Bear Creek Mining	0.7x	n/a	US$61.14m
LUN Lundin Mining	1.9x	4.4%	US$7.89b
BTO B2Gold	2x	16.3%	US$3.73b

84 Companies		Estimated Growth	Market Cap
Industry Avg.	2.9x	40.3%
BCM Bear Creek Mining	0.7x	n/a	US$61.14m

No more companies

Price-To-Sales vs Industry: BCM is good value based on its Price-To-Sales Ratio (0.7x) compared to the Canadian Metals and Mining industry average (2.9x).

Price to Sales Ratio vs Fair Ratio

What is BCM'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.

BCM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.7x
Fair PS Ratio	n/a

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

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.

Discover undervalued companies

Chemtrade Logistics Income Fund

CA$1.4b

Offers industrial chemicals and services in Canada, the United States, and South America.

CHE.UN

CA$11.44

3.2%

30.4%

Neo Performance Materials

CA$319.4m

Engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally.

NEO

CA$7.64

-5.0%

6.7%

Interfor

CA$981.2m

Produces and sells wood products in Canada, the United States, Japan, China, Taiwan, and internationally.

IFP

CA$19.25

-0.6%

-15.2%