TSXV:MRI

Stock Analysis Report

Meridius Resources

Executive Summary

Meridius Resources Limited, a junior mineral exploration company, engages in the acquisition, exploration, and development of mineral resource properties in Canada.

Risk Analysis

Does not have a meaningful market cap (CA$2M)

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year



Snowflake Analysis

Flawless balance sheet with weak fundamentals.

Share Price & News

How has Meridius Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MRI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

MRI

2.4%

CA Metals and Mining

0.6%

CA Market


1 Year Return

n/a

MRI

4.4%

CA Metals and Mining

5.8%

CA Market

Return vs Industry: Insufficient data to determine how MRI performed against the Canadian Metals and Mining industry.

Return vs Market: Insufficient data to determine how MRI performed against the Canadian Market.


Shareholder returns

MRIIndustryMarket
7 Day0%2.4%0.6%
30 Day0%1.2%0.5%
90 Day0%6.6%3.6%
1 Yearn/a5.0%4.4%9.1%5.8%
3 Yearn/a-10.4%-11.9%15.4%5.0%
5 Yearn/a22.9%19.2%33.6%14.0%

Price Volatility Vs. Market

How volatile is Meridius Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Meridius Resources undervalued compared to its fair value and its price relative to the market?

7.56x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MRI's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MRI's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: MRI is unprofitable, so we can't compare its PE Ratio to the Metals and Mining industry average.

PE vs Market: MRI is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MRI is overvalued based on its PB Ratio (7.6x) compared to the CA Metals and Mining industry average (1.5x).


Next Steps

Future Growth

How is Meridius Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

15.6%

Forecasted Materials industry annual growth in earnings


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 Meridius 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 SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Meridius Resources performed over the past 5 years?

48.7%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: MRI is currently unprofitable.

Growing Profit Margin: MRI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if MRI's year-on-year earnings growth rate was positive over the past 5 years.

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

Earnings vs Industry: MRI is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (-1.4%).


Return on Equity

High ROE: MRI has a negative Return on Equity (-82.38%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Meridius Resources's financial position?


Financial Position Analysis

Short Term Liabilities: MRI's short term assets (CA$242.1K) exceed its short term liabilities (CA$13.7K).

Long Term Liabilities: MRI has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: MRI is debt free.

Reducing Debt: MRI has not had any debt for past 5 years.


Balance Sheet

Inventory Level: MRI has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if MRI's debt is covered by short term assets.


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: MRI has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: MRI has sufficient cash runway for 1 years if free cash flow continues to reduce at historical rates of -44.7% each year.


Next Steps

Dividend

What is Meridius Resources's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.9%markettop25%5.3%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MRI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MRI's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MRI's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MRI's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

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

2.3yrs

Average management tenure


CEO

Dylan Sidoo (25yo)

2.4yrs

Tenure

CA$22,000

Compensation

Mr. Dylan Sidoo has been the Chief Executive Officer, President and Director of Meridius Resources Limited since August 1, 2017. He is a Self-employed consultant since June 2000. Mr. Sidoo served as the Pr ...


CEO Compensation Analysis

Compensation vs Market: Dylan's total compensation ($USD16.93K) is below average for companies of similar size in the Canadian market ($USD165.67K).

Compensation vs Earnings: Dylan's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Dylan Sidoo
CEO, President & Director2.4yrsCA$22.00k18.72% CA$330.0k
Cheuk Wa Ho
CFO & Director1.2yrsCA$5.37kno data
David Sidoo
Corporate Secretary & Independent Director2.4yrsCA$46.14k18.28% CA$322.2k

2.3yrs

Average Tenure

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


Board Members

NamePositionTenureCompensationOwnership
Dylan Sidoo
CEO, President & Director2.4yrsCA$22.00k18.72% CA$330.0k
Cheuk Wa Ho
CFO & Director1.2yrsCA$5.37kno data
David Sidoo
Corporate Secretary & Independent Director2.4yrsCA$46.14k18.28% CA$322.2k
Peter Espig
Independent Director2.1yrsno data1.28% CA$22.5k
Jordan Sidoo
Independent Director2.4yrsno data18.72% CA$330.0k
Amrik Virk
Independent Director0.8yrsCA$10.73kno data

2.3yrs

Average Tenure

38.5yo

Average Age

Experienced Board: MRI's board of directors are not considered experienced ( 2.3 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: Insufficient data to determine if 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 diluted in the past year, with total shares outstanding growing by 30%.


Top Shareholders

Company Information

Meridius Resources Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Meridius Resources Limited
  • Ticker: MRI
  • Exchange: TSXV
  • Founded: 2017
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Market Cap: CA$1.763m
  • Shares outstanding: 11.75m
  • Website: https://www.meridiusresources.com

Location

  • Meridius Resources Limited
  • 595 Burrard Street
  • Vancouver
  • British Columbia
  • V7X 1L3
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MRITSXV (TSX Venture Exchange)YesCommon SharesCACADFeb 2018

Biography

Meridius Resources Limited, a junior mineral exploration company, engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company was founded in 2017 and is based in Vancouver, Canada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/01/02 00:49
End of Day Share Price2019/10/04 00:00
Earnings2019/08/31
Annual Earnings2019/08/31


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.