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HUT

Hut 8 MiningTSX:HUT Stock Report

Last Price

CA$8.28

Market Cap

CA$1.4b

7D

-0.7%

1Y

34.4%

Updated

16 Jan, 2022

Data

Company Financials +
HUT fundamental analysis
Snowflake Score
Valuation3/6
Future Growth5/6
Past Performance2/6
Financial Health4/6
Dividends0/6

HUT Stock Overview

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America.

Hut 8 Mining Competitors

HIVE Blockchain Technologies

TSXV:HIVE

CA$1.2b

Bitfarms

TSXV:BITF

CA$1.1b

DMG Blockchain Solutions

TSXV:DMGI

CA$128.6m

Digihost Technology

TSXV:DGHI

CA$126.1m

Price History & Performance

Summary of all time highs, changes and price drops for Hut 8 Mining
Historical stock prices
Current Share PriceCA$8.28
52 Week HighCA$20.61
52 Week LowCA$3.91
Beta2.48
1 Month Change-17.45%
3 Month Change-44.09%
1 Year Change34.42%
3 Year Change322.45%
5 Year Changen/a
Change since IPO107.00%

Recent News & Updates

Jan 04
Investors Will Want Hut 8 Mining's (TSE:HUT) Growth In ROCE To Persist

Investors Will Want Hut 8 Mining's (TSE:HUT) Growth In ROCE To Persist

There are a few key trends to look for if we want to identify the next multi-bagger. Amongst other things, we'll want...

Nov 13
These 4 Measures Indicate That Hut 8 Mining (TSE:HUT) Is Using Debt Reasonably Well

These 4 Measures Indicate That Hut 8 Mining (TSE:HUT) Is Using Debt Reasonably Well

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

HUTCA SoftwareCA Market
7D-0.7%-1.3%1.4%
1Y34.4%4.8%19.1%

Return vs Industry: HUT exceeded the Canadian Software industry which returned 4.8% over the past year.

Return vs Market: HUT exceeded the Canadian Market which returned 19.1% over the past year.

Price Volatility

Is HUT's price volatile compared to industry and market?
HUT volatility
HUT Average Weekly Movement13.8%
Software Industry Average Movement12.3%
Market Average Movement9.7%
10% most volatile stocks in CA Market17.7%
10% least volatile stocks in CA Market3.7%

Stable Share Price: HUT is more volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: HUT's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of Canadian stocks.

About the Company

FoundedEmployeesCEOWebsite
n/a30Jaime Levertonhttps://hut8mining.com

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 56 BlockBoxes in Medicine Hat, Alberta.

Hut 8 Mining Fundamentals Summary

How do Hut 8 Mining's earnings and revenue compare to its market cap?
HUT fundamental statistics
Market CapCA$1.38b
Earnings (TTM)CA$65.80m
Revenue (TTM)CA$128.86m

21.0x

P/E Ratio

10.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HUT income statement (TTM)
RevenueCA$128.86m
Cost of RevenueCA$52.08m
Gross ProfitCA$76.78m
ExpensesCA$10.98m
EarningsCA$65.80m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.39
Gross Margin59.58%
Net Profit Margin51.06%
Debt/Equity Ratio1.5%

How did HUT perform over the long term?

See historical performance and comparison

Valuation

Is Hut 8 Mining undervalued compared to its fair value and its price relative to the market?

20.98x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

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

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


Price To Earnings Ratio

PE vs Industry: HUT is good value based on its PE Ratio (21x) compared to the Canadian Software industry average (70.7x).

PE vs Market: HUT is poor value based on its PE Ratio (21x) compared to the Canadian market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: HUT is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: HUT is good value based on its PB Ratio (2.2x) compared to the CA Software industry average (4.1x).


Future Growth

How is Hut 8 Mining forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

128.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HUT's forecast earnings growth (128% per year) is above the savings rate (1.6%).

Earnings vs Market: HUT's earnings (128% per year) are forecast to grow faster than the Canadian market (11% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HUT's revenue (72.9% per year) is forecast to grow faster than the Canadian market (5.5% per year).

High Growth Revenue: HUT's revenue (72.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if HUT's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Hut 8 Mining performed over the past 5 years?

41.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HUT has a high level of non-cash earnings.

Growing Profit Margin: HUT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: HUT has become profitable over the past 5 years, growing earnings by 41.7% per year.

Accelerating Growth: HUT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: HUT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (6.4%).


Return on Equity

High ROE: HUT's Return on Equity (10.5%) is considered low.


Financial Health

How is Hut 8 Mining's financial position?


Financial Position Analysis

Short Term Liabilities: HUT's short term assets (CA$490.8M) exceed its short term liabilities (CA$21.9M).

Long Term Liabilities: HUT has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: HUT has more cash than its total debt.

Reducing Debt: Insufficient data to determine if HUT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: HUT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: HUT earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Hut 8 Mining current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

Growing Dividend: Insufficient data to determine if HUT'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 HUT'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

Jaime Leverton

1.08yrs

Tenure

CA$375,000

Compensation

Ms. Jaime Leverton serves as the Chief Executive Officer at Hut 8 Mining Corp. since December 01, 2020 and Director since December 30, 2020. She is a highly accomplished technology executive and industry t...


CEO Compensation Analysis

Compensation vs Market: Jaime's total compensation ($USD298.89K) is below average for companies of similar size in the Canadian market ($USD1.13M).

Compensation vs Earnings: Insufficient data to compare Jaime's compensation with company performance.


Leadership Team

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


Board Members

Experienced Board: HUT's board of directors are not considered experienced ( 1.8 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: 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 48.6%.


Top Shareholders

Company Information

Hut 8 Mining Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Hut 8 Mining Corp.
  • Ticker: HUT
  • Exchange: TSX
  • Founded: NaN
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: CA$1.381b
  • Shares outstanding: 166.74m
  • Website: https://hut8mining.com

Number of Employees


Location

  • Hut 8 Mining Corp.
  • 24 Duncan street
  • Suite 500
  • Toronto
  • Ontario
  • M5V 2B8
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/16 23:13
End of Day Share Price2022/01/14 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.