Maritime Resources Future Growth

Future criteria checks 3/6

Maritime Resources is forecast to grow earnings and revenue by 120.4% and 165.5% per annum respectively. EPS is expected to grow by 113.5% per annum. Return on equity is forecast to be 16.7% in 3 years.

Key information

120.4%

Earnings growth rate

113.5%

EPS growth rate

Metals and Mining earnings growth	41.3%
Revenue growth rate	165.5%
Future return on equity	16.7%
Analyst coverage	Low
Last updated	27 Jan 2025

Recent future growth updates

Recent updates

Health Check: How Prudently Does Maritime Resources (CVE:MAE) Use Debt?

Dec 20

Is Maritime Resources (CVE:MAE) Using Too Much Debt?

Jun 11

An Intrinsic Calculation For Maritime Resources Corp. (CVE:MAE) Suggests It's 21% Undervalued

Mar 03

Is Maritime Resources (CVE:MAE) In A Good Position To Invest In Growth?

Apr 12

Is Maritime Resources (CVE:MAE) In A Good Position To Deliver On Growth Plans?

Nov 30

Earnings and Revenue Growth Forecasts

TSXV:MAE - Analysts future estimates and past financials data (CAD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	117	26	N/A	33	1
12/31/2025	N/A	-6	N/A	-6	1
12/31/2024	N/A	-6	N/A	-6	1
9/30/2024	N/A	-6	-5	-4	N/A
6/30/2024	N/A	-5	-7	-3	N/A
3/31/2024	N/A	-4	-6	-3	N/A
12/31/2023	N/A	-3	-7	-2	N/A
9/30/2023	N/A	-2	-6	-1	N/A
6/30/2023	N/A	-2	-5	-1	N/A
3/31/2023	N/A	-2	-7	-2	N/A
12/31/2022	N/A	-2	-7	-2	N/A
9/30/2022	N/A	-2	-9	-2	N/A
6/30/2022	N/A	-2	-11	-2	N/A
3/31/2022	N/A	-2	-13	-2	N/A
12/31/2021	N/A	-2	-14	-2	N/A
9/30/2021	N/A	-1	-14	-2	N/A
6/30/2021	N/A	-1	-14	-1	N/A
3/31/2021	N/A	-1	-9	-1	N/A
12/31/2020	N/A	-1	-8	-1	N/A
9/30/2020	N/A	-2	-6	-2	N/A
6/30/2020	N/A	-1	-6	-2	N/A
3/31/2020	N/A	-1	-6	-2	N/A
12/31/2019	N/A	-2	-6	-2	N/A
9/30/2019	N/A	-2	-6	-2	N/A
6/30/2019	N/A	-3	-5	-3	N/A
3/31/2019	N/A	-3	-4	-3	N/A
12/31/2018	N/A	-2	-3	-2	N/A
9/30/2018	N/A	-2	-3	-2	N/A
6/30/2018	N/A	-2	N/A	-1	N/A
3/31/2018	N/A	-2	N/A	-1	N/A
12/31/2017	N/A	-2	N/A	-1	N/A
9/30/2017	N/A	-1	N/A	-1	N/A
6/30/2017	N/A	-2	N/A	-2	N/A
3/31/2017	N/A	-2	N/A	-2	N/A
12/31/2016	N/A	-1	N/A	-1	N/A
9/30/2016	N/A	-2	N/A	-1	N/A
6/30/2016	N/A	-1	N/A	-1	N/A
3/31/2016	N/A	-1	N/A	0	N/A
12/31/2015	N/A	-1	N/A	0	N/A
9/30/2015	N/A	0	N/A	0	N/A
6/30/2015	N/A	0	N/A	0	N/A
3/31/2015	N/A	-1	N/A	0	N/A
12/31/2014	N/A	-1	N/A	0	N/A
9/30/2014	N/A	-1	N/A	-1	N/A
6/30/2014	N/A	-1	N/A	-1	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.3%).

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

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

Revenue vs Market: MAE is forecast to have no revenue next year.

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

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MAE's Return on Equity is forecast to be low in 3 years time (16.7%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/03 09:48
End of Day Share Price	2025/01/31 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Maritime Resources Corp. is covered by 4 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Carey MacRury	Canaccord Genuity
Michael Fairbairn	Canaccord Genuity
George Topping	iA Capital Markets

Maritime Resources Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Price target increased by 25% to CA$0.20

Recent updates

Maritime Resources Corp. Announces Initial Drill Results from A Definition Drill Program Underway At Its Hammerdown Gold Project

Health Check: How Prudently Does Maritime Resources (CVE:MAE) Use Debt?

Maritime Resources Corp. Announces Results of Additional Surface Sampling At the Hammerdown Gold Project Near the Towns of King's Point and Springdale in the Baie Verte Mining District of Newfoundland and Labrador

Maritime Resources Corp. announced that it has received $0.104705 million in funding

Maritime Resources Corp. Announces Executive Changes

New major risk - Share price stability

Dundee Corporation (TSX:DC.A) acquired 5.66% stake in Maritime Resources Corp. (TSXV:MAE) for CAD 1.6 million.

New major risk - Shareholder dilution

Maritime Resources Corp. has filed a Follow-on Equity Offering in the amount of CAD 8 million.

Maritime Resources Corp. has filed a Follow-on Equity Offering in the amount of CAD 8 million.

Price target increased by 25% to CA$0.20

Is Maritime Resources (CVE:MAE) Using Too Much Debt?

Maritime Resources Corp. Provides Hammerdown and Point Rousse Project Update

New major risk - Financial position

Maritime Resources Corp. announced that it has received CAD 2.5 million in funding from FireFly Metals Ltd

Maritime Resources Corp. Confirms High Grade Gold, Silver, and Copper At Black Ridge

Maritime Resources Corp. Initiates Gold Recovery Program At the Pine Cove Mill

Maritime Resources Corp. Announces Board and Management Changes

New major risk - Financial position

Maritime Resources Corp. Stakes Black Ridge Property with Outcrop Grades of 8.8 gpt Gold,198.6 gpt Silver and 10.3% Copper

Maritime Resources Corp. Provides Update on Newfoundland and Labrador Gold Projects

Maritime Resources Corp., Annual General Meeting, Nov 30, 2023

Maritime Resources Corp. announced that it has received CAD 1.8955 million in funding

Maritime Resources Corp. announced that it has received CAD 1.8955 million in funding

Maritime Resources Corp. announced that it has received $5 million in funding

Maritime Resources Corp. announced that it has received $5 million in funding

Maritime Resources Corp. announced that it expects to receive CAD 3 million in funding

Maritime Resources Corp. signed an agreement to acquire Point Rousse Project from Signal Gold Inc.

New major risk - Share price stability

An Intrinsic Calculation For Maritime Resources Corp. (CVE:MAE) Suggests It's 21% Undervalued

Maritime Resources Provides Exploration Update

Maritime Resources Corp. Drills 4.72 Gpt Au over 8.15 Metres, Including 10.4 Gpt Au over 3.67 Metres At Orion

Maritime Resources Corp. Commences Diamond Drill Exploration Program at its 100% Owned Hammerdown Gold Project

Maritime Resources Corp., Annual General Meeting, Dec 08, 2022

Maritime Resources Corp. announced that it has received CAD 3.7 million in funding from Dundee Goodman Merchant Partners, Tembo Capital Management Limited, Gold Resource Corporation and other investors

Maritime Resources Corp. Reports Positive Feasibility Study for Hammerdown Gold Project with 48.1% IRR

Maritime Resources Corp. Discovers New Gold Zone 300 Metres South of Hammerdown Deposit

Maritime Resources Provides Update on Hammerdown Gold Project

Maritime Resources Corp. Reports the Completion of A Mineral Resources Estimate on Its 100%-Owned, Lac Pelletier Gold Project

Maritime Resources Corp. (TSXV:MAE) acquired Sprucy Pond mineral licenses for CAD 0.14 million.

Maritime Resources Initiates 2022 Exploration Drilling Program

Independent Director Peter Mercer has left the company

Maritime Resources Reports Positive Sorting Results on Hammerdown Bulk Sample

Maritime Resources Traces Orion North Zone over 550 Metres - Intersects 12.43 Gpt Gold and 2.15 Gpt Silver over 1.20 Metres, Including 50.60 Gpt Gold and 7.90 Gpt Silver over 0.20 Metres

Maritime Resources Corp. Initiates Exploration Program at Hammerdown Gold Project

Maritime Resources Corp. announced that it has received CAD 10.00103 million in funding from Tembo Capital Management Limited

Is Maritime Resources (CVE:MAE) In A Good Position To Invest In Growth?

Maritime Resources Corp. announced that it expects to receive CAD 10.00103 million in funding from Tembo Capital Management Ltd

Maritime Resources Corp Drills 1.4 Gpt Au over 92.1 Metres At Hammerdown

Maritime Resources Corp. Provides Assay Results from Six Additional Diamond Drill Holes at the Orion Deposit in the Baie Verte Mining District of Newfoundland and Labrador, Canada

Maritime Resources Corp. Announces New Gold Discovery At the Hammerdown Gold Project Located in the Baie Verte Mining District of Newfoundland and Labrador, Canada

Maritime Resources Corp. (TSXV:MAE) signed a letter of intent to acquire Nugget Pond and Portfolio of Canadian Mineral Exploration Properties and Royalty Interests from Rambler Metals & Mining Canada Limited for CAD 3.1 million.

Is Maritime Resources (CVE:MAE) In A Good Position To Deliver On Growth Plans?

Maritime Resources Corp. Announces Additional Assay Results from its Ongoing Exploration Program at the Whisker Valley Project

Maritime Resources Corp. Announces Additional Assay Results from Ongoing Exploration Program at the Hammerdown Gold Project

Maritime Resources Corp. Intersects 2.90 Grams Per Tonne Gold over 31.0 Metres At Hammerdown in New Wisteria Zone

Maritime Resources Corp. announced that it has received CAD 8.705133 million in funding from Dundee Corporation and other investors

New 90-day high - CA$0.21