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GDRZ

Gold Reserve OTCPK:GDRZ.F Stock Report

Last Price

US$0.98

Market Cap

US$97.7m

7D

-1.9%

1Y

-39.4%

Updated

25 Sep, 2022

Data

Company Financials
GDRZ.F fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance0/6
Financial Health6/6
Dividends0/6

GDRZ.F Stock Overview

Gold Reserve Inc., an exploration stage company, acquires, explores, and develops mining properties.

Gold Reserve Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Gold Reserve
Historical stock prices
Current Share PriceUS$0.98
52 Week HighUS$1.79
52 Week LowUS$0.61
Beta0.30
1 Month Change-18.25%
3 Month Change32.57%
1 Year Change-39.44%
3 Year Change-43.94%
5 Year Change-76.07%
Change since IPO-1.90%

Recent News & Updates

Shareholder Returns

GDRZ.FUS Metals and MiningUS Market
7D-1.9%-7.4%-5.2%
1Y-39.4%-16.6%-23.0%

Return vs Industry: GDRZ.F underperformed the US Metals and Mining industry which returned -16.6% over the past year.

Return vs Market: GDRZ.F underperformed the US Market which returned -23% over the past year.

Price Volatility

Is GDRZ.F's price volatile compared to industry and market?
GDRZ.F volatility
GDRZ.F Average Weekly Movement16.3%
Metals and Mining Industry Average Movement8.7%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: GDRZ.F is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 16% a week.

Volatility Over Time: GDRZ.F's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
19566Rockne Timmhttps://www.goldreserveinc.com

Gold Reserve Inc., an exploration stage company, acquires, explores, and develops mining properties. It primarily focuses on the Siembra Minera project that holds gold, copper, silver, and other strategic mineral rights comprising an area of approximately 18,950 hectares located in Bolivar, Venezuela. The company was incorporated in 1956 and is based in Spokane, Washington.

Gold Reserve Fundamentals Summary

How do Gold Reserve's earnings and revenue compare to its market cap?
GDRZ.F fundamental statistics
Market CapUS$97.66m
Earnings (TTM)-US$10.77m
Revenue (TTM)n/a

0.0x

P/S Ratio

-9.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GDRZ.F income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other ExpensesUS$10.77m
Earnings-US$10.77m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.11
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0%

How did GDRZ.F perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is GDRZ.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GDRZ.F?

Other financial metrics that can be useful for relative valuation.

GDRZ.F key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDA-6x
PEG Ration/a

Price to Book Ratio vs Peers

How does GDRZ.F's PB Ratio compare to its peers?

GDRZ.F PB Ratio vs Peers
The above table shows the PB ratio for GDRZ.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average2.5x
VRDR Verde Resources
7xn/aUS$106.7m
NSRP.F Novo Resources
0.4xn/aUS$78.5m
HYMC Hycroft Mining Holding
1.5xn/aUS$129.1m
GORO Gold Resource
1.1xn/aUS$137.9m
GDRZ.F Gold Reserve
1.7xn/aUS$97.7m

Price-To-Book vs Peers: GDRZ.F is good value based on its Price-To-Book Ratio (1.7x) compared to the peer average (2.5x).


Price to Earnings Ratio vs Industry

How does GDRZ.F's PE Ratio compare vs other companies in the US Metals and Mining Industry?

Price-To-Book vs Industry: GDRZ.F is expensive based on its Price-To-Book Ratio (1.7x) compared to the US Metals and Mining industry average (1.5x)


Price to Book Ratio vs Fair Ratio

What is GDRZ.F's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GDRZ.F PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.7x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate GDRZ.F's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of GDRZ.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate GDRZ.F's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate GDRZ.F's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-4.8%

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 Gold Reserve 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.


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  • Examine Gold Reserve's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Gold Reserve's filings and announcements here.

Past Performance

How has Gold Reserve performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-62.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GDRZ.F is currently unprofitable.

Growing Profit Margin: GDRZ.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: GDRZ.F is unprofitable, and losses have increased over the past 5 years at a rate of 62% per year.

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

Earnings vs Industry: GDRZ.F is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (82.4%).


Return on Equity

High ROE: GDRZ.F has a negative Return on Equity (-19.14%), as it is currently unprofitable.


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Financial Health

How is Gold Reserve's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: GDRZ.F's short term assets ($55.4M) exceed its short term liabilities ($1.2M).

Long Term Liabilities: GDRZ.F has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: GDRZ.F is debt free.

Reducing Debt: GDRZ.F has no debt compared to 5 years ago when its debt to equity ratio was 105.9%.

Debt Coverage: GDRZ.F has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: GDRZ.F has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Gold Reserve current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

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

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

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


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GDRZ.F has not reported any payouts.


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Management

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

18.7yrs

Average management tenure


CEO

Rockne Timm (76 yo)

34.67yrs

Tenure

US$719,503

Compensation

Mr. Rockne J. Timm has been the Chief Executive Officer at Gold Reserve Inc. since 1988. Mr. Timm serves as the President of Great Basin since 1981 and MGC Ventures, a subsidiary of Gold Reserve Inc since...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Rockne's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Rockne's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: GDRZ.F's management team is seasoned and experienced (18.7 years average tenure).


Board Members

Experienced Board: GDRZ.F's board of directors are seasoned and experienced ( 25.3 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.


Recent Insider Transactions

OTCPK:GDRZ.F Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
15 Sep 22BuyUS$955Camac Partners, LLCCompany1,000US$0.95
13 Sep 22BuyUS$85,489Camac Partners, LLCCompany89,600US$0.97
02 Sep 22BuyUS$36,792Camac Partners, LLCCompany39,500US$0.93
30 Aug 22BuyUS$1,596Camac Partners, LLCCompany1,800US$0.89
26 Aug 22BuyUS$6,181Camac Partners, LLCCompany7,000US$0.88
22 Aug 22BuyUS$11Camac Partners, LLCCompany12US$0.89
19 Aug 22BuyUS$25,711Camac Partners, LLCCompany29,727US$0.89
18 Aug 22BuyUS$44,500Camac Partners, LLCCompany50,000US$0.89
16 Aug 22BuyUS$1,009,574Camac Partners, LLCCompany1,124,122US$0.90
16 Aug 22BuyUS$256,515Camac Partners, LLCCompany288,349US$0.89
12 Aug 22BuyUS$17,436Camac Partners, LLCCompany19,400US$0.90
03 Aug 22BuyUS$7,000Camac Partners, LLCCompany8,000US$0.88
29 Jul 22BuyUS$36,831Camac Partners, LLCCompany42,100US$0.88
28 Jul 22BuyUS$21,684Camac Partners, LLCCompany24,700US$0.88
27 Jul 22BuyUS$137,854Camac Partners, LLCCompany163,800US$0.88
15 Jul 22BuyUS$40,044Camac Partners, LLCCompany45,878US$0.90
10 Jun 22BuyUS$388,091Camac Partners, LLCCompany533,000US$0.79
20 May 22SellUS$288,000Steelhead Partners, LLCCompany400,000US$0.72
26 Nov 21BuyUS$299,706Camac Partners, LLCCompany204,155US$1.62
01 Oct 21SellUS$32,347Jean-Charles PotvinIndividual20,000US$1.62

Ownership Breakdown

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


Top Shareholders

Top 10 shareholders own 57.2% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
26.57%
Greywolf Capital Management LP.
26,454,256$26.0m0%100%
15.01%
Camac Partners, LLC
14,939,538$14.7m9.94%62.72%
10.15%
Steelhead Partners, LLC
10,099,924$9.9m-3.81%93.64%
1.74%
A. Belanger
1,729,940$1.7m0%no data
1.57%
Rockne Timm
1,559,040$1.5m0%no data
0.82%
James Coleman
812,138$796.7k0%no data
0.49%
Great Basin Energies, Inc.
491,192$481.9k0%no data
0.41%
James Geyer
407,473$399.7k0%no data
0.26%
MGC Ventures, Inc.
258,083$253.2k0%no data
0.19%
David Onzay
189,843$186.2k0%no data

Company Information

Gold Reserve Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Gold Reserve Inc.
  • Ticker: GDRZ.F
  • Exchange: OTCPK
  • Founded: 1956
  • Industry: Gold
  • Sector: Materials
  • Implied Market Cap: US$97.656m
  • Shares outstanding: 99.55m
  • Website: https://www.goldreserveinc.com

Number of Employees


Location

  • Gold Reserve Inc.
  • 999 West Riverside Avenue
  • Suite 401
  • Spokane
  • Washington
  • 99201
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GRZTSXV (TSX Venture Exchange)YesClass A Common SharesCACADOct 1981
GDRZ.FOTCPK (Pink Sheets LLC)YesClass A Common SharesUSUSDOct 1981
GODADB (Deutsche Boerse AG)YesClass A Common SharesDEEUROct 1981

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/25 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.