Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
It is not possible to calculate the future cash flow value for
Maritime Resources. This is due to cash flow or dividend data being
unavailable. The share price is
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
Maritime Resources's earnings available for a low price, and how does
this compare to other companies in the same industry?
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Maritime Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Show me the analysis anyway
The future performance of a company is measured in the same way as past
performance, by looking at estimated
and how much profit it is expected to make.
Future estimates come from
professional analysts. Just like forecasting the weather, they don’t always get
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
expected to grow at an
Unable to compare Maritime Resources's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare Maritime Resources's earnings growth to the Canada market average as no estimate data is available.
Unable to compare Maritime Resources's revenue growth to the Canada market average as no estimate data is available.
Unable to determine if Maritime Resources is high growth as no earnings estimate data is available.
Unable to determine if Maritime Resources is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Maritime Resources's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
Metals and Mining
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
Maritime Resources's finances.
The net worth of a company is the difference between its assets and liabilities.
Maritime Resources's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
Maritime Resources has no long term commitments.
This treemap shows a more detailed breakdown of
Maritime Resources's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
High level of physical assets or inventory.
Maritime Resources has no debt, it does not need to be covered by short term assets.
Nearly all companies have debt. Debt in itself isn’t
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.
The graphic below shows equity (available funds) and debt, we ideally want to
see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and
whether the level has increased over the past 5 years.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
TENURE AS CEO
Mr. Garett MacDonald, MBA, BASc., P.Eng. has been the President and Chief Executive Officer of Maritime Resources Corp., since January 31, 2019. He has been a Director of First Cobalt Corp. since June 2018. He was President and Chief Executive Officer of Tower Resources Limited since April 2018 until February 28, 2019. Mr. MacDonald is Technical Advisor of US Cobalt Inc. since January 31, 2018. He served as Technical Advisor to the Board at Tower Resources Ltd. since May 2017 until 2018 and was its Director since 2018 until February 28, 2019 . Mr. MacDonald serves as Vice President of Project Development at JDS Energy & Mining. He served as Vice President of Operations at Rainy River Resources Ltd. since December 11, 2009 until 2013. Mr. Macdonald served as the Vice President of Operations at Canadian Arrow Mines Limited since April 2, 2007 until December 2009 and had main responsibility to assess the viability of its Kenbridge Nickel Deposit towards a production decision over the next several months and determine the steps necessary for any required permitting. Mr. Macdonald has over 22 years of experience in the mining industry and worked in both open pit mining operations, large civil construction and continuing improvement to underground operations, including Placer Dome Canada Ltd. and Suncor Energy Inc. He has managed large technical programs through the concept, feasibility and into construction stages and has senior management and board level experience with several public companies. Mr. Macdonald served as Engineering Manager of Fortune Minerals Limited from April 12, 2005 to May 2007 and also served as its Mining Manager. He served as Project Director for New Gold after the $310M acquisition of Rainy River. Mr. Macdonald held various engineering and operations positions with Suncor Energy Inc. at its oil sands operations in Fort McMurray, Alberta. Mr. Macdonald served as an Engineer for Placer Dome Canada Ltd., where he worked at the Campbell and Dome gold mines in Ontario. He also has engineering and related experience working for Teck Corporation's Quintette coal mine in British Columbia, as well as two aggregate operations in Ontario. He has been a Director of Maritime Resources Corp. since November 8, 2018. He has been a Director of Gungnir Resources Inc. since July 14, 2015. He has been Director at Aurelius Minerals Inc. since June 2017. He served as an Independent Director at Manitou Gold Inc. since April 2011 until November 14, 2014. From 2009 to 2014, he led feasibility and development activities for the 325,000 oz/year Rainy River Project in NW Ontario. He is Vice President of Project Development for JDS Energy & Mining since May, 2015. Mr. Macdonald is a Mining Engineer. Mr. Macdonald holds a Bachelor of Engineering degree in Mining Engineering from Laurentian University (1991 – 1996) and subsequently earned his Master's in Business Administration (MBA) from the Richard Ivey School of Business at the University of Western Ontario (2003 – 2005).
Insufficient data for Garett to compare compensation growth.
Insufficient data for Garett to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the Maritime Resources management team is less than 2 years, this suggests a new team.
Chief Financial Officer
Vice President of Exploration
Manager of Investor Relations
Board of Directors Tenure
Average tenure of the
board of directors in years:
The average tenure for the Maritime Resources board of directors is less than 3 years, this suggests a new board.
Does Maritime Resources Corp's (CVE:MAE) CEO Salary Reflect Performance?
Doug Fulcher took the reins as CEO of Maritime Resources Corp's (CVE:MAE) and grew market cap to CA$10.61m recently. … CEOs leading companies of similar size and profitability … See our latest analysis for Maritime Resources
Maritime Resources Corp. engages in the exploration and development of mineral properties in Canada. The company primarily explores for gold and base metal deposits. It holds 100% interests in the Green Bay property covering 51.7 square kilometers located in Newfoundland and Labrador, Canada. The company was incorporated in 2007 and is headquartered in Vancouver, Canada.
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