LSE:BRWM

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

BlackRock World Mining Trust plc is a closed-ended equity mutual fund launched by BlackRock Fund Managers Limited.

Rewards


Snowflake Analysis

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.7%

BRWM

-1.2%

GB Capital Markets

2.0%

GB Market


1 Year Return

2.4%

BRWM

9.7%

GB Capital Markets

-12.8%

GB Market

Return vs Industry: BRWM underperformed the UK Capital Markets industry which returned 10.3% over the past year.

Return vs Market: BRWM exceeded the UK Market which returned -12.4% over the past year.


Shareholder returns

BRWMIndustryMarket
7 Day-1.7%-1.2%2.0%
30 Day8.2%8.4%5.7%
90 Day7.0%1.2%-8.2%
1 Year10.5%2.4%12.2%9.7%-8.6%-12.8%
3 Year21.2%2.2%57.2%46.0%-6.2%-17.6%
5 Year50.9%10.0%127.6%102.2%12.7%-12.5%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is BlackRock World Mining Trust undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BRWM (£3.42) is trading below our estimate of fair value (£9)

Significantly Below Fair Value: BRWM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BRWM is good value based on its PE Ratio (5.3x) compared to the Capital Markets industry average (15.3x).

PE vs Market: BRWM is good value based on its PE Ratio (5.3x) compared to the UK market (14.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BRWM is good value based on its PB Ratio (0.8x) compared to the GB Capital Markets industry average (1.6x).

Future Growth

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

16.1%

Forecasted Diversified Financials 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 BlackRock World Mining Trust 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.

Past Performance

How has BlackRock World Mining Trust performed over the past 5 years?

38.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BRWM has high quality earnings.

Growing Profit Margin: BRWM became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: BRWM has become profitable over the past 5 years, growing earnings by 38.9% per year.

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

Earnings vs Industry: BRWM has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (16.4%).


Return on Equity

High ROE: BRWM's Return on Equity (15.1%) is considered low.

Financial Health

How is BlackRock World Mining Trust's financial position?


Financial Position Analysis

Short Term Liabilities: BRWM's short term assets (£6.5M) do not cover its short term liabilities (£95.0M).

Long Term Liabilities: BRWM's short term assets (£6.5M) exceed its long term liabilities (£124.0K).


Debt to Equity History and Analysis

Debt Level: BRWM's debt to equity ratio (12%) is considered satisfactory.

Reducing Debt: BRWM's debt to equity ratio has reduced from 16.9% to 12% over the past 5 years.

Debt Coverage: BRWM's debt is well covered by operating cash flow (34.9%).

Interest Coverage: BRWM's interest payments on its debt are well covered by EBIT (32.6x coverage).


Balance Sheet

Dividend

What is BlackRock World Mining Trust's current dividend yield, its reliability and sustainability?

6.43%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BRWM's dividend (6.43%) is higher than the bottom 25% of dividend payers in the UK market (2.04%).

High Dividend: BRWM's dividend (6.43%) is in the top 25% of dividend payers in the UK market (5.67%)


Stability and Growth of Payments

Stable Dividend: BRWM's dividend payments have been volatile in the past 10 years.

Growing Dividend: BRWM's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34%), BRWM's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

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

15.5yrs

Average board tenure


CEO

BlackRock World Mining Trust has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
David Cheyne
Non Executive Director7.92yrsUK£22.50k0.014% £82.1k
Colin Mason Buchan
Senior Independent Directorno dataUK£30.81kno data
Ian Christopher Barby
Non Executive Director16.42yrsUK£22.50kno data
Oliver A. Baring
Independent Non-Executive Director15.5yrsUK£24.79kno data

15.5yrs

Average Tenure

74yo

Average Age

Experienced Board: BRWM's board of directors are seasoned and experienced ( 15.5 years average tenure).


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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

BlackRock World Mining Trust plc's company bio, employee growth, exchange listings and data sources


Key Information


Location

  • BlackRock World Mining Trust plc
  • 12 Throgmorton Avenue
  • London
  • Greater London
  • EC2N 2DL
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BRWMLSE (London Stock Exchange)YesOrdinary SharesGBGBPDec 1993
BWMT.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 1993
BRWMLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPDec 1993

Biography

BlackRock World Mining Trust plc is a closed-ended equity mutual fund launched by BlackRock Fund Managers Limited. It is managed by BlackRock Investment Management (UK) Limited. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating in the mining and metal sectors. The fund benchmarks the performance of its portfolio against the Euromoney Global Mining Index. It was formerly known as Merrill Lynch World Mining Trust PLC. BlackRock World Mining Trust plc was formed on December 15, 1993 and is domiciled in the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/30 21:39
End of Day Share Price2020/05/29 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.