TSXV:PRYM

Stock Analysis Report

Executive Summary

Prime Mining Corp. acquires, explores for, and develops interests in mineral projects in Canada, United States, Suriname, Mexico, and Barbados.

Risk Analysis

Earnings have declined by -66.71% per year over past 5 years

Has less than 1 year of cash runway

Shareholders have been substantially diluted in the past year

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

+ 2 more risks


Snowflake Analysis

Adequate balance sheet with weak fundamentals.

Share Price & News

How has Prime Mining's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PRYM's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

11.5%

PRYM

4.6%

CA Metals and Mining

0.2%

CA Market


1 Year Return

48.7%

PRYM

4.5%

CA Metals and Mining

4.9%

CA Market

Return vs Industry: PRYM exceeded the Canadian Metals and Mining industry which returned 4.5% over the past year.

Return vs Market: PRYM exceeded the Canadian Market which returned 4.9% over the past year.


Shareholder returns

PRYMIndustryMarket
7 Day11.5%4.6%0.2%
30 Day41.5%3.7%0.4%
90 Day61.1%10.7%3.7%
1 Year48.7%48.7%5.1%4.5%8.2%4.9%
3 Year241.2%241.2%-5.4%-7.0%15.9%5.5%
5 Year544.4%544.4%26.4%22.6%33.8%14.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Prime Mining undervalued compared to its fair value and its price relative to the market?

2.23x

Price to Book (PB) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

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

PE vs Market: PRYM 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 PRYM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PRYM is overvalued based on its PB Ratio (2.2x) compared to the CA Metals and Mining industry average (1.5x).


Next Steps

Future Growth

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

15.8%

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 Prime Mining 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 Prime Mining performed over the past 5 years?

-66.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PRYM is currently unprofitable.

Growing Profit Margin: PRYM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PRYM is unprofitable, and losses have increased over the past 5 years at a rate of -66.7% per year.

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

Earnings vs Industry: PRYM is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (10.1%).


Return on Equity

High ROE: PRYM has a negative Return on Equity (-25.81%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Prime Mining's financial position?


Financial Position Analysis

Short Term Liabilities: PRYM's short term assets (CA$3.4M) exceed its short term liabilities (CA$1.8M).

Long Term Liabilities: PRYM's short term assets (CA$3.4M) exceed its long term liabilities (CA$102.2K).


Debt to Equity History and Analysis

Debt Level: PRYM's debt to equity ratio (7.1%) is considered satisfactory.

Reducing Debt: PRYM had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


Balance Sheet

Inventory Level: PRYM has a high level of physical assets or inventory.

Debt Coverage by Assets: PRYM's debt is covered by short term assets (assets are 3.1x debt).


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: PRYM has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: PRYM has less than a year of cash runway if free cash flow continues to reduce at historical rates of -68.1% each year


Next Steps

Dividend

What is Prime Mining's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.9%markettop25%5.3%industryaverage1.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate PRYM'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 PRYM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PRYM'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 PRYM'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?

1.0yrs

Average management tenure


CEO

Andy Bowering (58yo)

0.8yrs

Tenure

0

Mr. Andrew William Bowering, also known as Andy, B.A., has been the Chief Executive Officer and Director of Prime Mining Corp. (formerly, ePower Metals Inc.) since April 22, 2019. Mr. Bowering serves as Ch ...


Leadership Team

NamePositionTenureCompensationOwnership
Andrew Bowering
CEO & Director0.8yrsno data4.96% CA$1.7m
Simon Anderson
Chief Financial Officer12.8yrsCA$13.25kno data
Gregory Liller
COO & Director0.8yrsno data0.59% CA$203.0k
Daniel Kunz
Executive Chairman0.5yrsno data0.42% CA$145.0k
Tyler Ross
Vice President of Investor Relations1.1yrsno datano data
Bruce Kienlen
Vice President of Exploration2yrsno data0.34% CA$116.0k

1.0yrs

Average Tenure

58yo

Average Age

Experienced Management: PRYM's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Andrew Bowering
CEO & Director0.8yrsno data4.96% CA$1.7m
Gregory Liller
COO & Director0.8yrsno data0.59% CA$203.0k
Daniel Kunz
Executive Chairman0.5yrsno data0.42% CA$145.0k
Paul Larkin
Independent Director0.5yrsno datano data
Blair Shilleto
Member of Advisory Board13.5yrsno datano data
Norman Gray
Members of Advisory Board13.5yrsno datano data
Stephen Glass
Member of Advisory Board12.9yrsno datano data
Jorge Monroy
Independent Director0.8yrsno datano data
Bruce Durham
Independent Director0.5yrsno datano data

0.8yrs

Average Tenure

65.5yo

Average Age

Experienced Board: PRYM's board of directors are not considered experienced ( 0.8 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: PRYM 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 substantially diluted in the past year, with total shares outstanding growing by 58%.


Top Shareholders

Company Information

Prime Mining Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Prime Mining Corp.
  • Ticker: PRYM
  • Exchange: TSXV
  • Founded: 1981
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Market Cap: CA$34.282m
  • Shares outstanding: 59.11m
  • Website: https://www.primeminingcorp.ca

Number of Employees


Location

  • Prime Mining Corp.
  • 1030 West Georgia Street
  • Suite 1507
  • Vancouver
  • British Columbia
  • V6E 2Y3
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
O4V3DB (Deutsche Boerse AG)YesCommon SharesDEEURMay 1992
PRYMTSXV (TSX Venture Exchange)YesCommon SharesCACADMay 1992
PRMN.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDMay 1992

Biography

Prime Mining Corp. acquires, explores for, and develops interests in mineral projects in Canada, United States, Suriname, Mexico, and Barbados. The company primarily explores for gold, silver, cobalt, manganese, and copper deposits. It primarily holds interest in the Los Reyes project covering an area of 6,300 hectares located in Sinaloa, Mexico. The company was formerly known as ePower Metals Inc. and changed its name to Prime Mining Corp. in August 2019. Prime Mining Corp. was incorporated in 1981 and is headquartered in Vancouver, Canada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 00:58
End of Day Share Price2020/02/18 00:00
Earnings2019/10/31
Annual Earnings2019/04/30


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.