fundamental equity analysis - qms gold miners flexindex - the qms advisors' gold miners...
DESCRIPTION
Fundamental Equity Analysis - QMS Gold Miners FlexIndex - The QMS Advisors' Gold Miners Flexible Index tracks companies involved in the Gold Mining IndustryTRANSCRIPT
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Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 14975259 2015.059 1113 1113 204 219 219 102.19 110.29 110.29 15.92 15.92 14.75 14.75 18.82
Euro Stoxx 50 Pr EUR 2706975 5664.923 4634 4634 747 776 776 207.50 303.81 303.81 22.76 18.75 15.55 15.55 20.04
NIKKEI 225 JPY 2691346 190.8087 190 190 18 21 21 5.22 6.83 6.83 0.27 0.27 0.21 0.21 0.11
FTSE 100 INDEX GBP 2803805 12388.32 9757 9757 1464 1732 1732 599.45 829.73 829.73 26.18 24.54 18.91 18.91 21.86
SWISS MARKET INDEX CHF 1074392 11181.29 4072 4072 862 831 831 414.56 551.93 551.93 21.62 17.94 16.24 16.24 22.27
S&P/TSX COMPOSITE INDEX CAD 1678986 17422.13 7914 7914 1852 2050 2050 771.46 866.95 866.95 16.04 16.04 14.28 14.28 24.21
S&P/ASX 200 INDEX AUD 1420679 6722.169 2756 2756 614 680 680 246.24 327.29 327.29 21.33 17.20 16.05 16.05 22.58
HANG SENG INDEX HKD 1763583 3473.649 1690 1690 371 409 409 283.48 270.50 270.50 1.37 1.54 1.43 1.43 3.00
MSCI EM USD 7939096 1455.618 1033 1033 197 194 194 85.73 95.79 95.79 12.37 13.59 11.07 11.07 19.54
GOLDCORP INC USD 24380 7556 812 1 0 0 1 24.85 5435 5101 4918 6301 2798 2532 570 570 1.99 1.71 1.43 2.16 17.38 17.38 20.91 13.79 1.36 13.48 19.78 21.03 49.64 BBB+ 01.06.2009 Baa2 13.03.2013
BARRICK GOLD CORP USD 20934 20012 1001 14 0 3 2 36.08 14547 14340 13584 14682 7358 7071 1576 1576 3.74 3.30 3.17 3.41 6.34 6.34 6.59 6.13 2.18 13.61 -11.64 24.49 49.31 BBB 26.04.2013 Baa2 24.04.2013
NEWMONT MINING CORP USD 16544 7046 497 6 0 3 2 24.71 9868 9362 9453 11102 4169 3731 803 803 3.78 3.34 2.81 3.59 9.93 9.93 11.79 9.24 -4.73 4.99 -19.24 19.37 39.85 BBB+ 11.08.2008 Baa1 26.07.2010
RANDGOLD RESOURCES LTD-ADR USD 7394 855 92 0 0 0 0 7.30 1318 1331 1383 1791 699 689 - - 4.65 4.48 4.32 6.73 17.92 17.92 18.57 11.93 16.92 27.97 20.16 53.34 51.75 - - - -
YAMANA GOLD INC USD 9119 5105 1 0 0 0 9.68 2337 2312 2525 3070 1269 1164 263 263 - - 0.77 1.05 - - 15.70 11.56 7.52 14.54 0.53 26.81 50.35 - - - -
GOLD FIELDS LTD-SPONS ADR USD 5035 3731 16 0 2 5 28916 38146 28557 30284 14243 20101 - - - - 5.89 7.52 - - 10.51 8.24 14.46 10.23 5.29 13.85 47.64 BB+ 15.11.2012 - -
SILVER WHEATON CORP USD 8631 5929 0 0 0 1 7.90 850 850 967 1094 701 701 197 197 - - 1.56 1.76 - - 15.56 13.82 16.38 63.12 13.36 43.74 82.57 - - - -
ANGLOGOLD ASHANTI-SPON ADR USD 7209 1820 30 0 0 8 52160 52152 59211 61408 19105 19105 - - - - 19.05 23.22 - - 8.89 7.30 -4.14 24.62 -17.82 86.63 36.63 BBB- 10.12.2012 - -
CIA DE MINAS BUENAVENTUR-ADR USD 5386 1736 254 0 0 0 0 5.61 1564 1505 1642 1761 572 - 174 174 2.69 2.28 2.21 2.35 8.57 8.57 8.86 8.31 0.44 14.04 -30.27 7.50 - - - - -
NEW GOLD INC USD 3596 3050 1 0 0 1 3.78 791 824 938 989 390 388 115 115 - - 0.40 0.53 - - 18.90 14.25 13.70 39.01 13.39 63.80 47.02 BB- 27.03.2012 B2 27.03.2012
AGNICO EAGLE MINES LTD USD 5411 1704 1 0 0 0 5.90 1918 1865 1705 2061 787 735 179 179 - - 1.04 1.79 - - 30.21 17.55 5.26 38.09 4.59 31.64 39.41 NR 12.03.2003 WR 05.03.2002
ELDORADO GOLD CORP USD 5345 4468 1 0 0 1 5.55 1148 1214 1264 1402 584 631 136 136 - - 0.44 0.54 - - 16.88 13.83 3.97 58.56 -9.24 53.95 51.94 BB 13.11.2012 Ba3 12.11.2012
KINROSS GOLD CORP USD 6382 14216 1140 3 0 0 2 7.19 4311 4333 4061 4293 1962 1981 354 354 0.77 0.74 0.46 0.61 7.55 7.55 12.07 9.19 12.20 27.96 1.87 40.67 45.72 BBB- 15.08.2011 Baa3 15.08.2011
ROYAL GOLD INC USD 3551 852 59 0 0 0 0 3.19 263 292 303 379 233 260 65 65 1.63 1.40 1.52 2.10 39.31 39.31 36.36 26.22 21.52 33.98 25.17 44.69 88.90 - - - -
HARMONY GOLD MNG-SPON ADR USD 2033 1846 2 0 0 2 15169 16353 16517 21953 4222 3140 4735 4735 - - 3.91 7.72 - - 10.83 5.48 30.81 9.67 79.35 16.71 19.20 - - - -
IAMGOLD CORP USD 2195 6923 1 0 0 1 2.10 1670 1571 1493 1689 710 710 148 148 - - 0.51 0.67 - - 11.50 8.75 -0.19 12.72 -9.54 30.21 42.52 BB- 10.09.2012 - -
PAN AMERICAN SILVER CORP USD 1936 2087 0 0 0 1 1.48 929 929 1036 1110 362 362 95 95 - - 0.98 1.17 - - 13.07 10.94 8.57 47.85 -18.81 25.23 38.98 - - - -
FIRST MAJESTIC SILVER CORP USD 1368 984 0 0 0 0 1.29 247 247 373 543 135 135 - - - - 0.84 1.30 - - 13.95 9.03 0.68 55.79 -13.49 101.01 54.66 - - - -
COEUR D'ALENE MINES CORP USD 1466 2508 90 0 0 0 0 1.44 895 863 939 1063 378 378 89 89 0.59 0.68 0.69 1.28 21.25 21.25 21.09 11.29 -12.31 37.42 -28.81 43.35 42.24 B+ 25.06.2012 B3 24.01.2013
AURICO GOLD INC USD 1197 2070 0 0 0 1 0.78 164 301 415 52 80 21 21 - - 0.27 0.41 - - 17.90 11.92 94.95 10.78 2151.89 - - - - - -
ALLIED NEVADA GOLD CORP USD 855 1747 90 1 0 0 0 1.03 215 225 368 560 95 95 25 25 0.52 0.49 0.84 1.81 19.41 19.41 11.29 5.25 41.13 - 95.75 - 44.49 B 07.06.2012 B3 16.05.2012
HECLA MINING CO USD 941 5405 285 0 0 0 0 0.77 321 321 488 622 93 93 40 40 0.07 0.07 0.22 0.38 47.14 47.14 15.14 8.73 -32.76 35.19 -63.53 10.36 28.93 B 04.04.2013 B2 02.04.2013
NEVSUN RESOURCES LTD USD 644 0 0 0 0 566 488 377 692 426 426 21 21 - - 0.40 0.96 - - 9.11 3.83 3.34 - -0.64 - 75.34 - - - -
AURIZON MINES LTD USD 616 785 0 0 0 0 0.42 224 224 209 266 92 92 - - - - 0.15 0.26 - - 25.44 14.77 -14.02 16.43 -26.18 14.15 41.26 - - - -
SILVER STANDARD RESOURCES USD 560 1230 0 0 0 0 0.33 241 252 217 243 55 55 12 12 - - -0.10 -0.01 - - 63.09 - 38.56 - 22.64 - - - -
SEABRIDGE GOLD INC USD 518 217 0 0 0 0 0.47 0 0 -16 - -15 -15 - - -0.22 -0.46 - - - - 20.14 - - - - - -
TANZANIAN ROYALTY EXPLORATIO USD 268 328 0 0 0 0 0.26 0 0 -5 -5 - - - - - - - - -16.99 - - - - - -
GOLDEN STAR RESOURCES LTD USD 218 5142 259 0 0 0 0 0.25 551 552 505 496 125 126 29 29 -0.05 -0.14 -0.01 0.12 - - 7.06 16.89 21.87 35.80 - 22.85 - - - -
VISTA GOLD CORP USD 123 297 82 0 0 0 0 0.04 0 0 0 -36 -34 -6 -6 -0.54 -0.51 -0.25 -0.23 - - - - -26.58 - - - - - -
GREAT BASIN GOLD LTD USD 4 603 0 0 0 0 0.32 170 145 18 -26 - - - - - - 70.83 - - - -18.00 - - - -
ARGONAUT GOLD INC CAD 940 707 149 0 0 0 0 0.74 186 186 213 273 107 107 19 19 0.68 0.62 0.40 0.56 10.11 10.11 15.51 11.15 78.42 - 91.18 - 56.96 - - - -
TOREX GOLD RESOURCES INC CAD 849 2669 604 0 0 0 0 0.43 0 0 0 0 -60 -60 -15 -15 -0.14 -0.15 -0.10 -0.09 - - - - -76.68 - - - - - -
LIONGOLD CORP LTD SGD 850 8578 731 0 0 0 0 0.82 79 92 90 116 -4 1 - - -0.02 -0.03 0.00 0.01 - - 153.67 70.93 13.51 7.14 - - 1.20 - - - -
CHINA GOLD INTERNATIONAL RES CAD 1161 353 396 0 0 0 0 1.19 330 330 352 632 138 138 152 152 0.18 0.18 0.16 0.19 16.25 16.25 18.19 15.56 6.72 - -1.29 - 41.44 - - - -
PERSEUS MINING LTD CAD 655 1556 0 0 0 0 0.61 144 311 398 55 126 - - - - 0.13 0.20 - - 11.05 7.14 - - - - - - - - -
SANDSTORM GOLD LTD CAD 671 570 86 0 0 0 0 0.54 56 57 71 95 36 36 - - 0.25 0.17 0.19 0.38 43.47 43.47 38.89 19.35 86.11 - 91.02 - 65.03 - - - -
OCEANAGOLD CORP CAD 604 884 294 0 0 0 0 0.82 383 390 582 632 144 168 50 50 0.08 0.11 0.22 0.31 18.56 18.56 9.37 6.63 -2.55 13.83 -11.96 66.65 42.85 - - - -
MEDUSA MINING LTD AUD 543 1478 189 0 0 0 0 0.54 81 93 113 272 58 64 - - 0.26 0.29 0.41 0.96 10.09 - 7.06 3.03 -45.87 94.68 -52.31 - 69.71 - - - -
DUNDEE PRECIOUS METALS INC CAD 709 398 126 0 0 0 0 0.67 382 372 458 527 - - - - 0.39 0.34 0.71 0.80 16.49 16.49 7.91 7.03 13.56 43.19 - - - - - - -
RIO ALTO MINING LTD CAD 627 674 176 0 0 0 0 0.59 314 315 324 172 172 - - 0.57 0.55 0.52 0.50 6.46 6.46 6.77 7.02 - - - - 54.35 - - - -
AURIZON MINES LTD USD 616 785 0 0 0 0 0.42 224 224 209 266 92 92 - - - - 0.15 0.26 - - 25.44 14.77 -14.02 16.43 -26.18 14.15 41.26 - - - -
ENDEAVOUR SILVER CORP USD 457 1264 0 0 0 0 0.46 208 229 244 280 90 88 29 29 - - 0.41 0.60 - - 11.25 7.66 62.57 53.81 38.56 - 38.27 - - - -
CONTINENTAL GOLD LTD CAD 550 366 108 0 0 0 0 0.44 0 0 14 14 -12 -10 - - -0.07 -0.07 -0.08 -0.09 - - - - - - - - - - -
RUBICON MINERALS CORP CAD 476 627 288 0 0 0 0 0.31 0 0 -11 -11 - - -0.04 -0.04 -0.05 0.20 - - 8.24 - - 46.24 - - - - - -
SILVERCORP METALS INC USD 487 821 0 0 0 0 0.43 238 193 202 256 155 102 - - - - 0.21 0.29 - - 13.38 9.73 42.21 27.32 40.76 43.24 53.14 - - - -
EVOLUTION MINING LTD AUD 679 3368 707 0 0 0 0 0.71 472 639 619 712 191 215 140 140 0.07 0.18 0.08 0.12 5.23 - 11.42 7.74 286.52 - 543.55 - 33.77 - - - -
CHINA PRECIOUS METAL RESOURC HKD 762 7510 4351 0 0 0.99 210 210 268 319 143 143 186 186 - 0.02 0.02 0.02 1.44 - 0.97 0.96 5.83 26.54 4.47 - 8.80 - - - -
SEABRIDGE GOLD INC USD 518 217 0 0 0 0 0.47 0 0 -16 - -15 -15 - - -0.22 -0.46 - - - - 20.14 - - - - - -
BEADELL RESOURCES LTD AUD 581 5137 742 0 0 0 0 0.71 1 1 315 334 -14 - 162 162 -0.05 -0.06 0.14 0.17 - - 5.20 4.34 - - 60.65 - - - - - -
RESOLUTE MINING LTD AUD 568 8340 636 0 0 0 0 0.51 579 621 657 586 256 261 - - 0.17 0.26 0.23 0.15 3.47 - 3.93 5.74 29.72 29.37 131.77 105.23 42.31 - - - -
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
Currency
Market
Capitalization (in mio
USD)
Daily
Volume (M)
Total
Common
Shares (M)
Total Debt
(USD)
Preferred
Stock (USD)
Minority
Interest
(USD)
Cash and
Equivalents
(USD)
Enterprise
Value
(USD)
Tot. Rev. -
LFY
Est. Tot.
Rev. - Tr.
12M
Est. Tot.
Rev. - 2013
Est. Tot.
Rev. - 2014 EBITDA - LFY
Est. EBITDA -
Tr. 12M
Est. EBITDA -
2013
Est. EBITDA -
2014 EPS - LFY
Est. EPS -
Tr. 12M
Est. EPS -
2013
Est. EPS -
2014
P/E Ratio -
LFY
Est. P/E
Ratio - Tr.
12M
Est. P/E
Ratio - 2013
Est. P/E
Ratio - 2014
Est.
Revenue
Growth - 1Y
Est.
Revenue
Growth - 5Y
Est. EBITDA
Growth - 1Y
Est. Est.
EBITDA
Growth - 5Y
Est. EBITDA
Margin -
S&P LT
Credit
Rating -
S&P LT Credit
Rating Date
Moody's LT
Credit
Rating
Moody's LT Credit
Rating Date
S&P 500 INDEX USD 14975259 2015.059 1113 1113 204 219 219 102.19 110.29 110.29 15.92 15.92 14.75 14.75 18.82
Euro Stoxx 50 Pr EUR 2706975 5664.923 4634 4634 747 776 776 207.50 303.81 303.81 22.76 18.75 15.55 15.55 20.04
NIKKEI 225 JPY 2691346 190.8087 190 190 18 21 21 5.22 6.83 6.83 0.27 0.27 0.21 0.21 0.11
FTSE 100 INDEX GBP 2803805 12388.32 9757 9757 1464 1732 1732 599.45 829.73 829.73 26.18 24.54 18.91 18.91 21.86
SWISS MARKET INDEX CHF 1074392 11181.29 4072 4072 862 831 831 414.56 551.93 551.93 21.62 17.94 16.24 16.24 22.27
S&P/TSX COMPOSITE INDEX CAD 1678986 17422.13 7914 7914 1852 2050 2050 771.46 866.95 866.95 16.04 16.04 14.28 14.28 24.21
S&P/ASX 200 INDEX AUD 1420679 6722.169 2756 2756 614 680 680 246.24 327.29 327.29 21.33 17.20 16.05 16.05 22.58
HANG SENG INDEX HKD 1763583 3473.649 1690 1690 371 409 409 283.48 270.50 270.50 1.37 1.54 1.43 1.43 3.00
MSCI EM USD 7939096 1455.618 1033 1033 197 194 194 85.73 95.79 95.79 12.37 13.59 11.07 11.07 19.54
ENDEAVOUR MINING CORP CAD 365 1660 391 0 0 0 0 0.53 344 345 489 624 135 136 - - -0.04 0.00 0.12 0.17 851.25 851.25 7.31 5.11 136.71 - 213.29 - 39.11 - - - -
FORTUNA SILVER MINES INC CAD 356 646 0.29 160 160 170 203 70 70 20 20 0.27 0.23 0.24 0.32 12.27 12.27 11.81 8.66 46.07 47.11 44.49 66.90 43.63 - - - -
MCEWEN MINING INC USD 713 4062 296 0 0 0 0 0.64 6 39 150 217 -92 -72 - - -0.19 -0.17 0.10 0.17 - - 22.32 12.47 - - -54.81 - -266.78 - - - -
MAG SILVER CORP CAD 456 74 60 0 0 0 0 0.42 0 0 -13 -13 -1 -1 -0.22 -0.22 -0.12 -0.15 - - - - -40.70 - - - - - -
PRIMERO MINING CORP CAD 552 205 97 0 0 0 0 0.45 182 184 200 249 77 77 33 33 0.54 0.51 0.42 0.60 11.03 11.03 13.17 9.34 16.75 - 6.30 - 42.05 - - - -
KINGSGATE CONSOLIDATED LTD AUD 312 2232 151 0 0 0 0 0.44 359 374 343 391 166 - - - 0.52 0.35 0.24 0.26 5.92 - 8.50 8.07 107.83 84.59 147.37 - - - - - -
TIMMINS GOLD CORP CAD 345 447 144 0 0 0 0 0.34 155 165 195 213 68 76 17 17 0.25 0.32 0.34 0.33 7.48 7.48 7.08 7.10 87.56 - 59.68 - 45.45 - - - -
ST BARBARA LTD AUD 370 9933 325 0 0 0 0 0.52 544 524 533 630 225 202 - - 0.41 0.27 0.08 0.17 2.77 - 9.36 4.60 50.74 27.95 105.43 84.94 38.71 B 15.03.2013 - -
PREMIER GOLD MINES LTD CAD 295 1456 149 0 0 0 0 0.27 0 1 0 0 -12 -12 - - -0.15 -0.16 -0.07 -0.07 - - - - -5.30 - -1316.69 - - - -
NORTHERN STAR RESOURCES LTD AUD 360 4592 402 0 0 0 0 0.32 100 115 134 168 48 58 76 76 0.05 0.08 0.07 0.10 11.02 11.45 11.47 8.84 -13.46 - 5.26 - 50.92 - - - -
TANZANIAN ROYALTY EXPLORATIO USD 268 328 0 0 0 0 0.26 0 0 -5 -5 - - - - - - - - -16.99 - - - - - -
REAL GOLD MINING LTD HKD 1032 0 907 0 0 0 0 0.49 176 176 153 153 - - 0.12 0.12 0.94 0.95 4.55 - 7.02 - 11.19 - - - -
GOLDEN STAR RESOURCES LTD USD 218 5142 259 0 0 0 0 0.25 551 552 505 496 125 126 29 29 -0.05 -0.14 -0.01 0.12 - - 7.06 16.89 21.87 35.80 - 22.85 - - - -
ROMARCO MINERALS INC CAD 247 1075 585 0 0 0 0 0.20 0 0 -12 -12 -8 -8 -0.02 -0.02 -0.01 -0.01 - - - - 22.38 - - - - - -
BANRO CORPORATION CAD 278 4269 202 0 0 0 0 0.40 42 75 149 376 6 6 - - -0.02 0.03 -0.01 0.33 36.51 36.51 3.34 - - - - 14.06 - - - -
COLOSSUS MINERALS INC CAD 229 978 106 0 0 0 0 0.24 0 0 41 284 -33 -33 -7 -7 -0.28 -0.28 -0.12 0.83 - - 2.56 - - -12.15 - - - - - -
RAINY RIVER RESOURCES LTD CAD 224 540 100 0 0 0 0 0.12 0 0 1 -64 -64 - - -0.73 -0.73 -0.19 - - - - -299.61 - - - - - -
SULLIDEN GOLD CORP LTD CAD 218 1309 243 0 0 0 0 0.20 0 0 -12 -4 - - -0.06 -0.04 -0.03 -0.03 - - - - -36.26 - - - - - -
ASANKO GOLD INC CAD 202 105 76 0 0 0 0 0.02 0 0 -35 -35 - - -0.49 -0.26 -0.19 -0.15 - - - - 7.29 - - - - - -
BEAR CREEK MINING CORP CAD 198 126 92 0 0 0 0 0.13 0 0 -31 -31 - - -0.34 -0.33 -0.21 -0.07 - - - - -5.86 - - - - - -
PARAMOUNT GOLD AND SILVER USD 215 568 0 0 0 0 0.20 0 0 -18 -18 -8 -8 - - -0.04 -0.04 - - -59.56 - -54.62 - -29165.25 - - - -
KIRKLAND LAKE GOLD INC CAD 225 859 70 0 0 0 0 0.29 159 138 152 260 55 24 16 16 0.57 -0.01 -0.03 0.51 - - 6.25 54.33 62.13 110.17 - 17.46 - - - -
GUYANA GOLDFIELDS INC CAD 212 469 95 0 0 0 0 0.18 0 0 411 -8 -8 - - -0.09 -0.10 -0.08 -0.09 - - - - 19.49 - - - - - -
HIGHLAND GOLD MINING LTD GBp 408 138 325 0 0 0 0 0.55 542 542 591 707 249 249 246 246 0.58 0.58 0.42 0.51 5.11 5.11 7.05 5.87 26.48 38.11 5.18 63.33 70.79 - - - -
INDOPHIL RESOURCES NL AUD 326 370 1203 0 0 0 0 0.09 0 0 -18 -18 - - 0.00 0.00 57.58 - - - -124.45 - - - - - -
LYDIAN INTERNATIONAL LTD CAD 198 168 127 0 0 0 0 0.11 0 0 - - - - -0.05 -0.05 -0.04 -0.02 - - - - - - - - - - -
SABINA GOLD & SILVER CORP CAD 203 904 174 0 0 0 0 0.09 0 0 -12 -12 - - -0.08 -0.08 -0.03 -0.03 - - - - -18.59 - - - - - -
LAKE SHORE GOLD CORP CAD 139 2953 416 0 0 0 0 0.23 132 132 198 268 38 38 - - -0.22 -0.23 -0.01 0.04 - - 8.12 100.15 - 414.20 - 28.31 - - - -
BRIGUS GOLD CORP USD 155 299 0 0 0 0 0.22 118 118 157 168 48 48 - - - - 0.13 0.14 - - 5.08 4.96 63.78 - 239.92 60.49 41.21 - - - -
GREAT PANTHER SILVER LTD USD 133 529 0 0 0 0 0.11 61 60 60 66 16 16 - - - - 0.05 0.08 - - 21.57 12.94 5.74 21.76 -28.90 - 25.56 - - - -
INTREPID MINES LTD AUD 142 6491 555 0 0 0 0 0.14 0 0 -48 -48 - - -0.11 -0.14 -0.01 -0.02 - - - - -21.81 - - - - - -
VISTA GOLD CORP USD 123 297 82 0 0 0 0 0.04 0 0 0 -36 -34 -6 -6 -0.54 -0.51 -0.25 -0.23 - - - - -26.58 - - - - - -
ALEXCO RESOURCE CORP USD 111 186 0 0 0 0 0.09 85 77 77 112 25 25 - - - - -0.14 0.05 - - 35.64 87.81 276.59 160.76 - 30.03 - - - -
ATAC RESOURCES LTD CAD 120 169 104 0 0 0 0 0.11 0 0 - - -1 -1 -0.08 -0.07 -0.05 -0.05 - - - - - - - - - - -
SCORPIO MINING CORP CAD 96 273 198 0 0 0 0 0.06 46 46 53 103 14 14 - - 0.04 0.04 0.04 0.13 12.04 12.04 13.02 3.62 -24.82 - -51.41 - 30.74 - - - -
MIDWAY GOLD CORP USD 125 235 128 0 0 0 0 0.09 0 0 -14 -14 - - -0.12 -0.12 -0.11 -0.12 - - - - 21.14 - - - - - -
PATAGONIA GOLD PLC GBp 188 130 736 0 0 0 0 0.19 0 0 -50 -41 - - -0.07 -0.05 - - - - - - - - - - -
GRYPHON MINERALS LTD AUD 99 5970 348 0 0 0 0 0.05 0 0 1 1 -8 -8 - - - -0.01 -0.02 -0.02 - - - - 49.58 - - - - - -
DRDGOLD LTD-SPONSORED ADR USD 249 36 0 0 0 0 1764 1959 2129 2546 371 400 526 526 - - 7.97 12.05 - - 7.32 4.85 27.89 7.86 64.25 12.94 20.40 - - - -
RED 5 LTD AUD 84 68 135 0 0 0 0 0.09 4 16 44 126 -3 -5 9 9 -0.01 -0.07 -0.06 0.25 - - 2.46 - - 43.56 - -29.66 - - - -
LINGBAO GOLD CO LTD-H HKD 234 550 770 1 0 0 0 0.70 824 824 892 850 95 95 97 97 0.03 0.03 0.02 0.02 1.14 1.11 1.33 1.30 1.51 2.37 -1.33 0.92 1.49 - - - -
INTL TOWER HILL MINES LTD USD 91 116 0 0 0 0 0.07 0 0 0 0 -56 -57 - - - - -0.10 -0.07 - - - - -463.04 - - - - - -
SARACEN MINERAL HOLDINGS LTD AUD 108 9410 595 0 0 0 0 0.12 185 188 211 239 63 52 61 61 0.04 -0.02 0.03 0.07 - - 5.32 2.66 18.12 - 6.13 - 27.90 - - - -
EXETER RESOURCE CORP USD 74 147 88 0 0 0 0 0.02 0 0 -26 -26 - - -0.29 -0.29 -0.13 -0.11 - - - - 17.44 - - - - - -
RICHMONT MINES INC USD 80 90 40 0 0 0 0 0.02 102 100 111 135 8 8 - - -0.08 -0.21 0.29 0.43 - - 7.17 4.81 -14.20 10.98 -79.79 8.26 7.56 - - - -
RAMELIUS RESOURCES LTD AUD 80 1844 336 0 0 0 0 0.04 85 116 129 168 13 -11 25 25 0.01 -0.06 0.01 0.09 - - 29.51 2.78 -43.25 175.81 -88.63 8.76 -9.12 - - - -
GOLDEN MINERALS CO USD 67 265 43 0 0 0 0 0.02 26 26 36 56 -35 -35 -6 -6 -1.44 -1.37 -0.74 -0.29 - - 1320.81 - 45.58 - -133.08 - - - -
SAN GOLD CORP CAD 60 1066 335 0 0 0 0 0.05 141 141 130 168 36 36 - - -0.04 -0.03 -0.05 -0.02 - - 24.39 115.90 186.60 - 25.08 - - - -
OREZONE GOLD CORP CAD 66 349 86 0 0 0 0 0.05 0 0 -28 -28 - - -0.06 -0.08 -0.17 -0.08 - - - - 9.68 - - - - - -
GRAN COLOMBIA GOLD CORP CAD 65 417 382 0 0 0 0 0.25 167 167 173 210 15 15 10 10 -0.08 -0.09 -0.06 0.03 - - 5.59 22.02 - 870.78 - 8.73 - - - -
Valuation Measures I/II
Market Capitalization & Asset Liability data Total Revenue EBITDA Earnings Per Share Price/Earnings ratio Rev. Growth EBITDA Growth
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.29 2.29 2.10 1.92 2.29 1.46 1.46 1.40 1.34 1.46 10.28 10.28 9.59 9.89 10.28 9.21 9.21 8.50 7.95 9.21 14.75 14.75 13.27 12.05 14.75 2.14 2.14 2.30 2.48 2.14 1737.2 6.8%
Euro Stoxx 50 Pr 1.22 1.22 1.15 1.08 1.22 0.78 0.78 0.77 0.74 0.78 6.04 6.04 5.58 4.99 6.04 7.30 7.30 6.88 6.53 7.30 11.95 11.95 10.66 9.70 11.95 4.10 4.10 4.40 4.73 4.10 2922.4 4.7%
NIKKEI 225 1.65 1.65 1.54 1.45 1.65 0.76 0.76 0.75 0.75 0.76 9.58 9.58 8.97 8.51 9.58 9.05 9.05 8.44 8.14 9.05 21.11 21.11 18.34 15.44 21.11 1.51 1.51 1.58 1.78 1.51 13495.6 -7.6%
FTSE 100 INDEX 1.75 1.75 1.63 1.53 1.75 1.04 1.04 1.02 0.99 1.04 8.62 8.62 7.85 6.57 8.62 7.15 7.15 6.73 6.36 7.15 12.29 12.29 11.23 10.39 12.29 3.77 3.77 4.04 4.41 3.77 6951.9 5.0%
SWISS MARKET INDEX 2.48 2.48 2.33 2.12 2.48 2.10 2.10 2.00 1.90 2.10 12.81 12.81 11.63 10.21 12.81 13.45 13.45 12.45 11.65 13.45 15.49 15.49 13.95 12.68 15.49 3.15 3.15 3.48 4.00 3.15 8324.5 2.0%
S&P/TSX COMPOSITE INDEX 1.68 1.68 1.56 1.46 1.68 1.57 1.57 1.48 1.40 1.57 8.42 8.42 7.56 6.96 8.42 8.50 8.50 7.51 7.04 8.50 14.37 14.37 12.66 11.67 14.37 3.18 3.18 3.33 3.52 3.18 14247.4 13.6%
S&P/ASX 200 INDEX 1.98 1.98 1.87 1.77 1.98 1.90 1.90 1.79 1.70 1.90 11.77 11.77 10.47 9.58 11.77 9.89 9.89 8.80 8.13 9.89 15.98 15.98 14.33 13.14 15.98 4.28 4.28 4.56 4.90 4.28 5227.9 0.4%
HANG SENG INDEX 1.38 1.38 1.27 1.16 1.38 1.78 1.78 1.64 1.51 1.78 8.21 8.21 7.77 7.39 8.21 8.49 8.49 7.73 7.12 8.49 11.11 11.11 10.22 9.26 11.11 3.49 3.49 3.77 4.17 3.49 24912.6 6.8%
MSCI EM 1.48 1.48 1.17 1.24 1.48 1.03 1.03 0.96 0.90 1.03 7.18 7.18 6.61 6.23 7.18 7.49 7.49 6.82 6.40 7.49 11.07 11.07 9.91 9.23 11.07 3.00 3.00 3.44 3.36 3.00 1193.7 12.6%
GOLDCORP INC 1.08 1.03 0.99 0.93 4.42 4.96 3.87 3.49 3.34 10.47 12.30 8.52 7.07 5.61 8.41 10.28 7.03 6.06 5.48 15.02 20.91 13.79 11.84 10.17 1.80 2.00 2.00 2.01 2.01 38.27 28.5%
BARRICK GOLD CORP 0.81 0.87 0.82 0.73 1.48 1.54 1.43 1.42 1.34 3.80 4.41 3.99 3.69 3.29 4.83 5.45 4.89 4.64 4.24 5.50 6.59 6.13 6.20 5.26 3.60 3.84 3.86 3.77 5.26 29.20 39.6%
NEWMONT MINING CORP 1.20 1.10 1.06 0.99 1.65 1.75 1.49 1.50 5.49 6.12 5.00 5.03 5.72 6.83 5.26 5.48 8.83 9.33 11.79 9.24 9.89 15.79 4.32 4.42 4.51 4.11 3.62 42.14 27.1%
RANDGOLD RESOURCES LTD-ADR 2.84 2.47 2.12 1.84 5.40 5.34 4.13 4.31 4.72 12.63 12.21 8.24 7.43 12.21 10.05 10.48 7.38 7.22 8.48 17.00 18.57 11.93 11.74 12.82 0.59 0.64 0.79 0.80 109.13 36.0%
YAMANA GOLD INC 1.16 1.12 1.05 1.00 3.84 3.61 2.97 3.07 2.66 8.51 8.51 6.53 6.29 5.94 7.38 7.31 5.47 5.74 4.44 13.27 15.70 11.56 12.07 10.18 1.97 2.02 2.05 1.98 2.15 16.94 39.8%
GOLD FIELDS LTD-SPONS ADR 0.77 0.89 0.82 0.75 0.92 1.60 1.51 1.44 2.82 4.41 4.38 4.02 5.46 10.51 8.24 7.23 5.74 2.99 3.31 3.97 8.53 24.8%
SILVER WHEATON CORP 2.76 2.48 2.21 1.98 1.61 10.55 8.93 7.89 7.68 5.64 12.76 11.80 10.44 9.92 8.69 11.58 10.21 8.88 8.84 6.29 14.71 15.56 13.82 13.78 11.35 1.54 1.88 2.03 2.17 2.36 40.75 67.4%
ANGLOGOLD ASHANTI-SPON ADR 1.23 1.14 0.99 0.89 1.08 1.10 1.06 1.09 3.85 3.59 3.38 3.81 6.29 8.89 7.30 7.78 2.23 1.41 1.36 1.41 29.82 59.4%
CIA DE MINAS BUENAVENTUR-ADR 1.38 1.21 1.08 0.99 3.50 3.28 3.06 3.17 12.06 14.42 11.23 6.55 8.69 7.30 7.77 6.88 8.86 8.31 8.78 3.14 2.49 3.23 2.84 26.80 37.1%
NEW GOLD INC 1.39 1.25 1.18 1.09 1.03 4.68 3.83 3.63 3.55 3.85 12.18 9.29 7.66 6.96 7.69 9.53 7.75 6.44 5.98 6.07 18.57 18.90 14.25 12.96 17.14 0.00 0.00 12.26 62.6%
AGNICO EAGLE MINES LTD 1.56 1.55 1.49 1.43 2.83 3.17 2.63 2.64 2.49 7.66 10.51 7.57 7.19 6.67 7.13 9.54 6.80 6.60 4.60 14.86 30.21 17.55 16.39 14.73 2.45 2.71 2.68 2.63 2.55 42.66 36.2%
ELDORADO GOLD CORP 0.89 0.88 0.86 0.81 4.63 4.23 3.81 2.75 1.90 11.49 10.49 8.75 6.11 3.75 9.16 8.78 7.67 5.15 3.21 16.30 16.88 13.83 9.44 5.70 1.94 1.74 1.90 2.31 2.81 12.49 67.0%
KINROSS GOLD CORP 0.49 0.63 0.60 0.58 0.49 1.47 1.57 1.49 1.58 1.40 4.45 4.79 4.06 4.50 3.98 3.62 4.30 3.58 3.92 3.21 7.57 12.07 9.19 10.33 8.13 2.86 2.77 2.75 2.86 2.86 8.17 46.2%
ROYAL GOLD INC 1.78 1.48 1.43 1.34 12.96 11.71 9.37 6.88 17.77 18.91 14.45 10.33 13.18 11.76 9.49 7.09 31.50 36.36 26.22 17.22 1.00 1.31 1.43 1.54 77.03 39.6%
HARMONY GOLD MNG-SPON ADR 0.49 0.48 0.46 0.45 1.09 1.11 0.84 0.77 4.38 4.28 3.19 3.85 6.19 10.83 5.48 13.43 2.83 1.35 2.97 1.49 7.85 68.1%
IAMGOLD CORP 0.58 0.57 0.56 0.54 1.34 1.47 1.30 1.28 1.19 4.09 5.22 4.23 4.39 3.74 2.85 3.68 2.98 3.17 2.44 6.77 11.50 8.75 10.10 8.23 4.36 4.22 4.01 3.93 4.29 9.52 63.3%
PAN AMERICAN SILVER CORP 0.68 0.69 0.65 0.60 0.53 2.02 1.87 1.74 1.74 1.39 7.16 7.53 6.81 7.36 4.43 3.73 3.65 3.17 3.43 1.86 10.18 13.07 10.94 12.83 7.36 1.38 3.38 3.22 2.91 3.91 18.56 45.2%
FIRST MAJESTIC SILVER CORP 2.21 5.19 3.67 2.52 2.20 1.94 9.46 9.18 6.12 5.09 4.12 7.63 6.08 4.25 3.81 3.21 12.18 13.95 9.03 7.59 6.80 19.08 63.2%
COEUR D'ALENE MINES CORP 0.60 0.59 0.54 0.49 1.62 1.56 1.38 1.37 1.20 4.88 5.52 4.22 3.99 3.87 3.73 2.78 2.61 13.26 21.09 11.29 8.47 23.49 62.6%
AURICO GOLD INC 0.64 0.60 0.59 0.58 0.48 3.83 3.97 2.88 2.49 2.12 11.98 9.58 6.21 5.83 4.69 5.42 5.42 3.60 3.04 2.38 12.13 17.90 11.92 11.41 9.12 0.00 3.77 2.91 3.36 4.06 7.47 54.0%
ALLIED NEVADA GOLD CORP 1.35 1.11 0.84 0.71 0.63 3.93 2.32 1.53 1.10 0.81 10.52 7.79 4.46 2.84 2.97 10.89 6.44 3.06 2.50 2.22 17.61 11.29 5.25 3.61 3.72 19.78 108.0%
HECLA MINING CO 0.83 0.78 0.75 0.65 0.57 2.88 1.93 1.51 1.59 1.51 10.58 6.60 5.06 4.63 4.75 6.94 3.59 2.36 2.11 2.40 30.56 15.14 8.73 8.01 8.40 1.21 1.12 1.82 2.42 1.21 4.94 49.7%
NEVSUN RESOURCES LTD 1.19 1.10 1.01 0.89 2.78 5.11 2.68 3.15 4.09 5.27 9.11 3.83 4.71 7.91 2.69 2.69 2.72 2.72 5.13 39.5%
AURIZON MINES LTD 1.60 1.59 2.74 2.96 2.33 2.53 2.42 8.76 9.71 6.81 7.06 5.84 4.27 4.42 2.99 18.28 25.44 14.77 13.79 13.12 0.00 4.70 25.7%
SILVER STANDARD RESOURCES 0.54 0.49 0.49 0.47 2.26 2.59 2.30 2.02 1.09 13.72 12.37 10.19 6.98 10.06 4.62 5.95 4.18 3.05 32.43 1388.00 0.00 0.00 0.00 15.53 123.8%
SEABRIDGE GOLD INC 38.80 241.2%
TANZANIAN ROYALTY EXPLORATIO
GOLDEN STAR RESOURCES LTD 0.51 0.54 0.53 0.48 0.00 0.39 0.43 0.44 0.45 0.43 1.88 2.73 2.04 2.20 1.71 2.27 2.90 2.07 1.91 1.84 17.50 7.06 5.92 1.95 0.00 1.15 36.5%
VISTA GOLD CORP 0.88 0.47 0.48 1.67 0.32 0.58 0.85 0.67 6.55 333.6%
GREAT BASIN GOLD LTD 0.01 0.02 0.16 10.21
ARGONAUT GOLD INC 1.57 1.07 0.96 0.93 5.06 4.39 3.42 2.89 2.31 9.13 11.22 7.88 6.66 6.37 7.05 7.06 5.42 4.97 3.20 11.38 15.61 11.22 9.10 8.70 11.16 75.8%
TOREX GOLD RESOURCES INC 1.58 1.52 1.54 1.37 1952.43 6.90 37.11 23.34 88.13 2.56 81.4%
LIONGOLD CORP LTD 16.29 10.90 9.47 7.35 5.36 190.00 87.69 43.85
CHINA GOLD INTERNATIONAL RES 0.85 0.79 0.73 0.66 3.46 3.28 1.82 1.21 7.33 0.84 1.83 0.37 8.03 7.82 4.91 3.20 14.29 18.31 15.67 13.32 0.44 0.44 0.58 11.09 3.62 22.8%
PERSEUS MINING LTD 1.85 1.61 1.35 1.03 0.87 4.06 2.08 1.63 1.14 1.13 10.63 8.33 4.61 2.81 3.39 10.35 4.90 3.64 2.07 2.44 11.39 11.13 7.19 4.14 5.37 0.00 0.00 0.21 3.09 2.11 2.36 63.6%
SANDSTORM GOLD LTD 11.36 9.44 7.04 5.26 13.58 15.50 10.52 8.19 11.81 12.74 11.21 7.30 5.80 24.63 39.16 19.47 13.33 33.82 12.26 63.7%
OCEANAGOLD CORP 1.00 0.92 0.88 0.84 0.95 1.55 1.03 0.95 1.03 1.23 4.99 3.00 2.72 2.94 5.27 5.74 3.63 3.79 4.26 8.10 32.13 9.43 6.68 8.71 2.98 44.0%
MEDUSA MINING LTD 1.72 1.42 1.00 0.77 0.65 5.99 4.81 2.00 1.80 1.29 9.94 5.78 2.88 2.46 2.54 8.17 6.92 2.64 2.38 2.10 9.24 7.02 3.02 2.77 2.77 3.52 1.15 3.97 6.02 8.01 5.20 81.9%
DUNDEE PRECIOUS METALS INC 0.93 0.85 0.67 0.61 2.02 1.55 1.35 1.37 5.78 5.19 4.32 3.62 4.96 3.62 2.66 2.15 9.42 7.97 7.07 6.70 0.00 0.00 0.00 11.21 97.4%
RIO ALTO MINING LTD 2.76 2.03 1.96 9.22 1.93 1.68 1.55 20.17 5.73 6.24 5.26 5.18 22.08 3.12 4.05 2.99 1.92 29.92 6.81 7.07 5.79 6.65 0.00 0.00 0.00 5.94 65.4%
AURIZON MINES LTD 1.60 1.59 2.74 2.96 2.33 2.53 2.42 8.76 9.71 6.81 7.06 5.84 4.27 4.42 2.99 18.28 25.44 14.77 13.79 13.12 0.00 4.70 25.7%
ENDEAVOUR SILVER CORP 2.21 1.87 1.63 1.63 5.50 5.95 4.38 4.74 5.12 5.24 3.52 3.65 10.46 11.25 7.66 8.81 8.20 79.1%
CONTINENTAL GOLD LTD 39.30 39.29 36.67 2.38 2.61 6.92 5.37 11.81 169.7%
RUBICON MINERALS CORP 1.02 5.03 4.37 8.30 7.55 4.83 191.2%
SILVERCORP METALS INC 1.11 2.00 2.41 1.90 1.45 1.35 4.13 6.29 5.62 2.86 3.24 2.87 4.64 3.07 2.47 2.19 6.12 13.38 9.73 5.00 5.82 3.12 3.44 6.21 117.7%
EVOLUTION MINING LTD 0.62 0.60 0.54 0.49 0.48 1.43 1.10 0.95 0.96 0.99 3.44 3.29 2.95 2.88 2.78 3.98 3.02 2.39 2.43 2.58 9.27 11.37 7.70 7.13 7.76 0.00 0.94 1.99 2.41 2.30 1.21 27.1%
CHINA PRECIOUS METAL RESOURC 1.51 1.24 1.05 3.96 2.84 2.39 12.36 15.11 7.84 5.31 4.18 13.60 7.56 7.43 0.74 2.21 3.68 1.70 25.0%
SEABRIDGE GOLD INC 38.80 241.2%
BEADELL RESOURCES LTD 6.23 3.25 1.64 1.32 104.84 1.85 1.74 2.01 2.30 4.68 3.64 5.07 4.38 3.87 5.25 8.10 5.18 4.32 6.02 5.98 0.00 0.27 1.22 1.50 4.08 1.00 36.5%
RESOLUTE MINING LTD 0.99 0.89 0.77 0.65 0.46 0.93 0.87 0.97 0.91 0.92 2.80 2.56 3.38 2.75 3.14 1.89 1.86 2.29 1.90 1.76 4.06 3.91 5.71 5.37 5.37 0.00 5.45 2.84 3.52 5.68 1.38 56.6%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2013 %D to Spot
S&P 500 INDEX 2.29 2.29 2.10 1.92 2.29 1.46 1.46 1.40 1.34 1.46 10.28 10.28 9.59 9.89 10.28 9.21 9.21 8.50 7.95 9.21 14.75 14.75 13.27 12.05 14.75 2.14 2.14 2.30 2.48 2.14 1737.2 6.8%
Euro Stoxx 50 Pr 1.22 1.22 1.15 1.08 1.22 0.78 0.78 0.77 0.74 0.78 6.04 6.04 5.58 4.99 6.04 7.30 7.30 6.88 6.53 7.30 11.95 11.95 10.66 9.70 11.95 4.10 4.10 4.40 4.73 4.10 2922.4 4.7%
NIKKEI 225 1.65 1.65 1.54 1.45 1.65 0.76 0.76 0.75 0.75 0.76 9.58 9.58 8.97 8.51 9.58 9.05 9.05 8.44 8.14 9.05 21.11 21.11 18.34 15.44 21.11 1.51 1.51 1.58 1.78 1.51 13495.6 -7.6%
FTSE 100 INDEX 1.75 1.75 1.63 1.53 1.75 1.04 1.04 1.02 0.99 1.04 8.62 8.62 7.85 6.57 8.62 7.15 7.15 6.73 6.36 7.15 12.29 12.29 11.23 10.39 12.29 3.77 3.77 4.04 4.41 3.77 6951.9 5.0%
SWISS MARKET INDEX 2.48 2.48 2.33 2.12 2.48 2.10 2.10 2.00 1.90 2.10 12.81 12.81 11.63 10.21 12.81 13.45 13.45 12.45 11.65 13.45 15.49 15.49 13.95 12.68 15.49 3.15 3.15 3.48 4.00 3.15 8324.5 2.0%
S&P/TSX COMPOSITE INDEX 1.68 1.68 1.56 1.46 1.68 1.57 1.57 1.48 1.40 1.57 8.42 8.42 7.56 6.96 8.42 8.50 8.50 7.51 7.04 8.50 14.37 14.37 12.66 11.67 14.37 3.18 3.18 3.33 3.52 3.18 14247.4 13.6%
S&P/ASX 200 INDEX 1.98 1.98 1.87 1.77 1.98 1.90 1.90 1.79 1.70 1.90 11.77 11.77 10.47 9.58 11.77 9.89 9.89 8.80 8.13 9.89 15.98 15.98 14.33 13.14 15.98 4.28 4.28 4.56 4.90 4.28 5227.9 0.4%
HANG SENG INDEX 1.38 1.38 1.27 1.16 1.38 1.78 1.78 1.64 1.51 1.78 8.21 8.21 7.77 7.39 8.21 8.49 8.49 7.73 7.12 8.49 11.11 11.11 10.22 9.26 11.11 3.49 3.49 3.77 4.17 3.49 24912.6 6.8%
MSCI EM 1.48 1.48 1.17 1.24 1.48 1.03 1.03 0.96 0.90 1.03 7.18 7.18 6.61 6.23 7.18 7.49 7.49 6.82 6.40 7.49 11.07 11.07 9.91 9.23 11.07 3.00 3.00 3.44 3.36 3.00 1193.7 12.6%
ENDEAVOUR MINING CORP 1.04 0.75 0.58 0.57 0.35 2.10 2.18 1.84 1.65 0.79 3.65 2.54 2.34 2.16 1.74 5.74 7.36 5.14 5.00 1.48 2.60 192.1%
FORTUNA SILVER MINES INC 1.46 1.18 1.01 0.87 0.77 2.10 2.09 1.74 1.69 5.29 5.88 4.82 4.60 4.58 4.15 4.00 2.91 2.75 3.14 10.29 11.88 8.71 8.05 8.61 4.93 72.5%
MCEWEN MINING INC 0.66 0.60 0.54 4.75 3.29 2.29 15.14 47.11 17.67 7.85 11.67 7.74 4.69 3.09 23.56 22.32 12.47 8.48 5.11 141.3%
MAG SILVER CORP 3.24 3.49 3.82 4.04 14.25 86.5%
PRIMERO MINING CORP 0.96 0.94 0.98 0.82 2.97 2.74 2.20 1.61 1.25 6.10 6.77 5.48 5.06 3.10 5.24 5.08 3.32 2.21 1.46 11.44 13.26 9.40 7.86 4.66 0.00 0.00 8.59 50.8%
KINGSGATE CONSOLIDATED LTD 0.41 0.37 0.34 0.32 0.27 0.85 0.91 0.80 0.65 0.48 2.54 2.48 1.83 1.65 1.38 2.61 3.85 3.07 2.80 2.06 3.41 8.46 8.03 7.58 4.05 10.54 5.34 9.41 11.81 20.78 3.15 54.2%
TIMMINS GOLD CORP 2.16 1.64 1.30 1.31 2.17 1.77 1.62 1.55 1.48 6.10 4.94 5.02 5.21 4.73 4.50 3.80 3.71 4.01 3.74 8.67 7.13 7.15 6.93 6.60 0.00 0.00 0.00 3.43 42.5%
ST BARBARA LTD 0.46 0.37 0.34 0.31 0.35 0.68 0.69 0.59 0.54 0.61 1.15 3.21 1.85 1.59 2.02 2.39 3.26 2.12 2.05 2.16 2.09 9.32 4.58 4.63 6.04 0.00 0.00 1.59 2.38 2.12 1.31 73.6%
PREMIER GOLD MINES LTD 0.70 156.43 0.00 5.57 179.9%
NORTHERN STAR RESOURCES LTD 3.84 2.91 2.33 1.93 1.92 3.26 2.68 2.15 1.98 1.30 8.37 5.75 6.17 6.60 4.23 6.21 4.22 3.28 3.50 2.55 15.09 11.42 8.80 8.05 6.71 0.00 3.08 3.55 3.43 4.14 1.01 19.8%
TANZANIAN ROYALTY EXPLORATIO
REAL GOLD MINING LTD 1.43 4.50 6.02 3.34 7.55 0.00
GOLDEN STAR RESOURCES LTD 0.51 0.54 0.53 0.48 0.00 0.39 0.43 0.44 0.45 0.43 1.88 2.73 2.04 2.20 1.71 2.27 2.90 2.07 1.91 1.84 17.50 7.06 5.92 1.95 0.00 1.15 36.5%
ROMARCO MINERALS INC 0.25 1.06 2.60 1.21 9.38 2.81 14.07 1.48 248.2%
BANRO CORPORATION 0.66 6.30 1.85 0.73 0.72 0.67 100.23 6.12 1.63 1.38 1.58 226.58 8.63 2.27 2.38 1.94 3.36 2.45 2.83 0.91 0.00 0.00 5.44 6.35 1.80 62.2%
COLOSSUS MINERALS INC 2.01 2.10 0.82 0.58 5.52 0.80 0.80 0.83 2.14 1.79 1.88 20.23 1.18 1.09 2.58 2.17 2.17 0.00 0.00 6.76 213.0%
RAINY RIVER RESOURCES LTD 0.86 1.00 225.94 225.94 0.00 0.00 6.61 192.4%
SULLIDEN GOLD CORP LTD 0.80 17.83 1.57 4.76 5.06 1.93 4.26 4.50 1.72 112.5%
ASANKO GOLD INC 0.89 0.90 0.71 0.71 6.36 2.26 8.27 2.90 0.00 0.00 4.54 90.1%
BEAR CREEK MINING CORP 1.45 2.75 4.01 85.8%
PARAMOUNT GOLD AND SILVER 0.80 0.56 1.00 3.70 168.1%
KIRKLAND LAKE GOLD INC 0.96 0.96 0.83 0.82 1.37 1.48 0.87 0.63 0.49 4.23 10.09 3.59 1.81 1.18 4.42 9.56 2.72 1.80 1.39 4.44 6.30 2.65 1.92 9.81 203.8%
GUYANA GOLDFIELDS INC 0.85 0.70 0.44 0.37 0.31 0.51 1.03 0.85 2.56 1.54 1.52 1.21 4.19 2.17 0.00 5.23 209.2%
HIGHLAND GOLD MINING LTD 0.52 0.47 0.43 0.38 0.34 1.19 1.06 0.89 0.88 0.89 3.04 3.56 2.89 2.72 2.24 2.30 2.23 1.81 1.78 1.88 4.01 4.58 3.81 3.96 4.25 5.90 5.02 5.26 5.74 6.38 139.58 71.3%
INDOPHIL RESOURCES NL
LYDIAN INTERNATIONAL LTD 2.60 1.74 1.95 1.26 7.26 1.94 20.15 12.34 3.56 132.8%
SABINA GOLD & SILVER CORP 0.68 0.39 0.67 0.70 0.00 4.28 262.3%
LAKE SHORE GOLD CORP 0.14 0.22 0.23 1.00 0.70 0.52 0.52 0.42 3.19 2.18 1.52 1.44 0.96 7.32 2.94 1.88 2.21 1.34 8.17 5.15 6.09 1.23 267.5%
BRIGUS GOLD CORP 0.56 1.28 0.99 0.92 0.78 0.57 2.90 2.32 2.28 2.06 1.61 4.09 2.64 2.18 1.87 1.97 6.84 5.08 4.96 3.56 3.05 1.47 119.0%
GREAT PANTHER SILVER LTD 2.16 2.23 2.03 7.30 10.79 6.93 5.11 5.11 5.96 14.94 21.57 12.94 19.42 32.36 1.29 33.6%
INTREPID MINES LTD 0.85 1.01 1.05 0.89 0.60 4313.45 4.43 0.60 0.00 0.00 0.00 0.00 0.24 -5.9%
VISTA GOLD CORP 0.88 0.47 0.48 1.67 0.32 0.58 0.85 0.67 6.55 333.6%
ALEXCO RESOURCE CORP 1.25 1.45 0.99 0.81 0.69 4.91 5.69 3.14 2.24 1.88 8.19 7.25 5.14 31.82 35.64 8.49 3.92 3.26 84.0%
ATAC RESOURCES LTD 1.34 1.19 1.09 1.02 3.53 229.4%
SCORPIO MINING CORP 2.04 1.81 0.93 7.24 4.85 1.71 1.03 5.48 9.18 3.50 12.13 13.11 3.65 2.31 1.93 298.6%
MIDWAY GOLD CORP 1.27 2.17 1.48 1.46 1.91 1.07 48.93 25.31 2.07 6.52 1.77 82.6%
PATAGONIA GOLD PLC
GRYPHON MINERALS LTD 0.45 0.46 0.43 0.38 0.22 39.82 129.10 71.72 1.67 0.59 9.42 1.81 1.63 2.88 0.67 4.90 2.09 0.00 0.00 0.00 0.00 0.00 0.60 146.8%
DRDGOLD LTD-SPONSORED ADR 1.06 0.88 5.51 3.73 7.32 4.85 5.12 6.83 8.40 30.2%
RED 5 LTD 0.62 0.58 0.47 0.37 6.09 1.92 0.67 0.64 0.42 9.25 1.20 1.01 20.24 11.47 1.27 1.13 0.69 22.96 2.45 1.86 1.44 0.00 0.00 0.00 0.00 0.96 54.0%
LINGBAO GOLD CO LTD-H 0.58 0.57 0.55 0.54 0.21 0.21 0.22 0.25 6.78 7.21 6.70 7.05 6.89 10.33 10.05 13.78 3.98 3.23 2.96 2.15 2.14 -8.9%
INTL TOWER HILL MINES LTD 0.40 0.57 0.34 0.00 3.79 307.9%
SARACEN MINERAL HOLDINGS LTD 0.60 0.39 0.35 0.30 0.24 0.58 0.51 0.45 0.38 0.38 1.88 1.91 1.62 1.26 1.50 1.89 1.88 1.39 1.01 0.98 4.09 5.29 2.65 2.22 1.89 0.00 0.00 0.00 6.11 5.56 0.30 63.9%
EXETER RESOURCE CORP 1.35 4.55 441.9%
RICHMONT MINES INC 0.77 0.73 0.60 7.30 3.41 2.59 19.47 7.17 4.81 4.37 115.0%
RAMELIUS RESOURCES LTD 0.49 0.29 0.28 0.26 0.85 0.62 0.48 0.52 0.39 10.68 7.34 2.16 2.14 2.23 1.59 0.74 0.79 0.72 6.35 29.38 2.76 3.22 3.92 0.00 0.00 1.70 2.55 8.51 0.34 42.6%
GOLDEN MINERALS CO 2.68 1.86 1.20 0.87 24.60 1.62 0.41 2.95 3.96 155.7%
SAN GOLD CORP 0.26 0.28 0.43 0.46 0.36 1.55 1.80 1.26 1.42 1.38 1.68 1.47 1.08 2.08 0.31 72.2%
OREZONE GOLD CORP 0.16 0.78 6.12 3.83 9.56 2.62 240.3%
GRAN COLOMBIA GOLD CORP 0.31 0.37 0.31 0.19 2.41 1.88 0.84 6.65 25.27 5.26 2.50 5.63 5.63 1.69 0.70 311.8%
Price to Earnings Ratio
Valuation Measures II/II
Estimated Dividend YieldPrice to Book Ratio Price to Sales Ratio Price to Cash Flow Ratio Enterprise Value to EBITDA Ratio Target
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Goldcorp, Inc. is engaged in the acquisition, exploration, development and
operation of precious metal properties in Canada, the Unites States, Mexico and
Central and South America.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 47.42
52-Week Low (17.04.2013) 27.11
Daily Volume
29.79
52-Week High % Change -37.18% Dividend Yield 1.86
52-Week Low % Change 9.89% Beta 0.73
% 52 Week Price Range High/Low 13.20% Equity Float 809.15
Shares Out 30.04.2013 812.0 Short Int 7.29
24'379.53 1 Yr Total Return -14.44%
Total Debt 783.00 YTD Return -18.33%
Preferred Stock 0.0 Adjusted BETA 0.725
Minority Interest 213.0 Analyst Recs 27
Cash and Equivalents 918.00 Consensus Rating 4.333
Enterprise Value 24'853.53
Average Volume 5 Day 6'267'257
GG US EQUITY YTD Change - Average Volume 30 Day 8'069'170
GG US EQUITY YTD % CHANGE - Average Volume 3 Month 7'170'037
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
2'419.6 2'723.6 3'738.0 5'362.0 5'435.0 5'362 5'435 4'918 6'301 1'171 1'301
9.42x 10.50x 9.95x 6.61x 5.50x 28.06x 24.57x 5.24x 4.04x 21.48x 19.50x
1'052.2 1'366.2 2'026.0 2'336.0 2'798.0 3'030.0 2'798.0 2'416.8 3'533.9 569.6 674.3
21.66x 20.94x 18.36x 15.18x 10.69x 11.71x 10.69x 10.28x 7.03x 9.36x 9.02x
1'475.6 240.2 2'051.0 1'187.0 1'749.0 1'881.0 1'749.0 1'213.9 1'834.3 220.9 306.0
57.34x 50.85x 30.36x 22.24x 18.47x 22.92x 19.41x 20.91x 13.79x 19.24x 16.84x
EBITDA 2'798.00 Long-Term Rating Date 01.06.2009
EBIT 2'123.00 Long-Term Rating BBB+
Operating Margin 39.06% Long-Term Outlook STABLE
Pretax Margin 41.44% Short-Term Rating Date -
Return on Assets 5.06% Short-Term Rating -
Return on Common Equity 7.08%
Return on Capital 6.69% EBITDA/Interest Exp. 93.27
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. 6.33
Net Debt/EBITDA 0.10
Gross Margin 44.6% Total Debt/EBITDA 0.90
EBITDA Margin 49.6%
EBIT Margin 36.6% Total Debt/Equity 3.4%
Net Income Margin 32.2% Total Debt/Capital 3.3%
Asset Turnover 0.16
Current Ratio 2.15 Net Fixed Asset Turnover 0.20
Quick Ratio 1.39 Accounts receivable turnover-days 42.40
Debt to Assets 2.51% Inventory Days 85.97
Tot Debt to Common Equity 3.45% Accounts Payable Turnover Day 88.00
Accounts Receivable Turnover 8.61 Cash Conversion Cycle 33.03
Inventory Turnover 4.25
Fiscal Year Ended
Goldcorp IncPrice/Volume
Valuation Analysis
7'556'134.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 95'391'332 11.75 - 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 32'937'156 4.06 (9'098'135) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 31'593'509 3.89 (836'637) 29.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 22'991'630 2.83 1'883'662 31.12.2012 Bank
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 19'122'015 2.36 (574'672) 31.03.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 18'417'273 2.27 7'264'832 31.03.2013 Hedge Fund Manager
CARMIGNAC GESTION CARMIGNAC GESTION 13F 17'580'357 2.17 17'580'357 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 15'796'349 1.95 5'676'487 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 15'632'925 1.93 5'971'920 31.12.2012 Investment Advisor
CI INVESTMENTS INC Multiple Portfolios MF-AGG 12'996'285 1.6 (440'597) 31.12.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 11'582'812 1.43 (224'052) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 11'409'803 1.41 1'401'951 31.12.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 8'426'680 1.04 (27'800) 31.12.2012 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 7'362'990 0.91 699'268 31.12.2012 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 7'239'262 0.89 (4'220'800) 31.12.2012 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 7'106'968 0.88 (2'294'891) 31.12.2012 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 6'835'256 0.84 1'053'271 31.03.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 6'162'583 0.76 (935'880) 28.02.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 5'776'522 0.71 1'267'153 31.12.2012 Government
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 5'736'927 0.71 (2'008'888) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies PETER D WARD hold 3 M 27 12 month 30.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 35 Not Provided 28.04.2013
Stifel GEORGE J TOPPING buy 5 M 36 Not Provided 26.04.2013
Macquarie TONY LESIAK outperform 5 M 39 12 month 25.04.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 41 12 month 23.04.2013
TD Securities GREG BARNES buy 5 M 37 12 month 23.04.2013
Barclays FAROOQ HAMED overweight 5 M 40 Not Provided 23.04.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 28 12 month 22.04.2013
Credit Suisse ANITA SONI neutral 3 M 37 Not Provided 22.04.2013
Davenport & Co LLOYD T O'CARROLL buy 5 M 35 Not Provided 22.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 42 12 month 22.04.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 36 12 month 19.04.2013
JPMorgan JOHN BRIDGES overweight 5 M 50 6 month 19.04.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 49 Not Provided 15.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 46 12 month 15.04.2013
CIBC World Markets ALEC KODATSKY sector outperform 5 M 46 Not Provided 11.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 09.04.2013
GMP GEORGE V ALBINO buy 5 M 60 Not Provided 02.04.2013
Salman Partners DAVID WEST top pick 5 M 59 12 month 01.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 15.03.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 48 Not Provided 12.03.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 33 Not Provided 19.02.2013
Morgan Stanley PARETOSH MISRA Equalwt/In-Line 3 M #N/A N/A Not Provided 08.01.2013
Raymond James BRAD HUMPHREY Under Review #N/A N/A N #N/A N/A Not Provided 19.11.2008
Holdings By:
Goldcorp Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Barrick Gold Corporation is an international gold company with operating mines
and development projects in the United States, Canada, South America, Australia,
and Africa.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (06.06.2012) 43.30
52-Week Low (17.04.2013) 17.51
Daily Volume
20.91
52-Week High % Change -51.71% Dividend Yield 3.83
52-Week Low % Change 19.42% Beta 0.79
% 52 Week Price Range High/Low 13.18% Equity Float 998.50
Shares Out 30.04.2013 1'001.2 Short Int 13.82
20'934.10 1 Yr Total Return -43.37%
Total Debt 13'943.00 YTD Return -39.89%
Preferred Stock 0.0 Adjusted BETA 0.785
Minority Interest 2'663.0 Analyst Recs 32
Cash and Equivalents 2'093.00 Consensus Rating 3.938
Enterprise Value 36'081.09
Average Volume 5 Day 21'193'548
ABX US EQUITY YTD Change - Average Volume 30 Day 24'444'724
ABX US EQUITY YTD % CHANGE - Average Volume 3 Month 17'383'728
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
7'613.0 8'136.0 11'001.0 14'236.0 14'547.0 14'793.0 14'340.0 13'584.2 14'682.2 3'299.9 3'456.6
4.64x 5.27x 5.25x 4.08x 3.41x 15.70x 14.05x 2.71x 2.50x 11.03x 10.63x
3'010.0 3'589.0 6'211.0 8'327.0 7'358.0 8'579.0 7'071.0 6'624.7 7'379.1 1'576.1 1'735.3
11.75x 11.95x 9.30x 6.98x 6.73x 6.58x 6.30x 5.45x 4.89x 5.24x 5.15x
785.0 (4'274.0) 3'582.0 4'484.0 (665.0) 4'522.0 (847.0) 3'117.6 3'424.5 656.3 759.1
20.18x 16.56x 15.62x 9.79x 9.36x 0.00x 0.00x 6.59x 6.13x 6.88x 6.56x
EBITDA 7'358.00 Long-Term Rating Date 26.04.2013
EBIT 5'636.00 Long-Term Rating BBB
Operating Margin 38.74% Long-Term Outlook NEG
Pretax Margin -6.28% Short-Term Rating Date 19.05.2011
Return on Assets -1.71% Short-Term Rating A-2
Return on Common Equity -3.63%
Return on Capital - EBITDA/Interest Exp. 9.89
Asset Turnover 0.29% (EBITDA-Capex)/Interest Exp. 1.33
Net Debt/EBITDA 1.76
Gross Margin 47.4% Total Debt/EBITDA 2.09
EBITDA Margin 49.3%
EBIT Margin 37.2% Total Debt/Equity 63.8%
Net Income Margin -4.6% Total Debt/Capital 36.3%
Asset Turnover 0.29
Current Ratio 1.33 Net Fixed Asset Turnover 0.48
Quick Ratio 0.58 Accounts receivable turnover-days 10.51
Debt to Assets 29.49% Inventory Days 125.35
Tot Debt to Common Equity 63.83% Accounts Payable Turnover Day 94.50
Accounts Receivable Turnover 34.72 Cash Conversion Cycle 33.82
Inventory Turnover 2.91
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Barrick Gold CorpPrice/Volume
Valuation Analysis
20'012'319.00
Current Price (5/dd/yy) Market Data
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16'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 87'777'710 8.77 - 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 58'280'637 5.82 (23'472'640) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 33'799'228 3.38 (1'012'978) 29.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 30'078'073 3 3'795'193 31.12.2012 Bank
FMR LLC n/a ULT-AGG 20'600'402 2.06 (3'418'885) 31.03.2013 Investment Advisor
CI INVESTMENTS INC Multiple Portfolios MF-AGG 17'663'919 1.76 771'337 31.12.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 17'095'925 1.71 (4'625'429) 31.03.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 16'861'844 1.68 3'198'995 31.03.2013 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 14'741'836 1.47 (68'927) 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 14'548'226 1.45 3'777'420 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 13'797'555 1.38 (4'803'846) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 13'586'744 1.36 1'359'379 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 13'422'922 1.34 866'236 31.12.2012 Investment Advisor
INSTITUTIONAL CAPITA INSTITUTIONAL CAPITA 13F 12'729'638 1.27 (401'738) 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 10'758'391 1.07 353'171 31.12.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 10'376'354 1.04 (2'442'600) 31.12.2012 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 10'027'723 1 1'562'724 31.12.2012 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 9'682'770 0.97 128'664 31.03.2013 Investment Advisor
OLDFIELD PARTNERS LL OLDFIELD PARTNERS LL 13F 8'964'554 0.9 1'678'488 31.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 8'501'322 0.85 2'875'528 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies PETER D WARD buy 5 M 30 12 month 30.04.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 23 12 month 29.04.2013
Canaccord Genuity Corp STEVEN BUTLER hold 3 M 23 12 month 29.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 29 Not Provided 28.04.2013
Stifel GEORGE J TOPPING buy 5 M 34 Not Provided 26.04.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 33 Not Provided 25.04.2013
Macquarie TONY LESIAK neutral 3 M 21 12 month 25.04.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 25.04.2013
Salman Partners DAVID WEST buy 5 M 29 12 month 25.04.2013
Cormark Securities Inc. RICHARD GRAY market perform 3 M 25 12 month 25.04.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 34 12 month 25.04.2013
TD Securities GREG BARNES hold 3 M 22 12 month 25.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 33 12 month 25.04.2013
Veritas Investment Research Co PAWEL RAJSZEL buy 5 M 28 Not Provided 25.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 25.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 30 Not Provided 24.04.2013
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 24 12 month 24.04.2013
Credit Suisse ANITA SONI outperform 5 M 38 Not Provided 24.04.2013
JPMorgan JOHN BRIDGES neutral 3 M 32 6 month 24.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 24 12 month 24.04.2013
GMP GEORGE V ALBINO buy 5 M 49 12 month 24.04.2013
Barclays FAROOQ HAMED equalweight 3 M 24 Not Provided 24.04.2013
Davenport & Co LLOYD T O'CARROLL buy 5 M 26 Not Provided 22.04.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 26.02.2013
Argus Research Corp WILLIAM V SELESKY hold 3 M #N/A N/A Not Provided 20.02.2013
Hamburger Sparkasse INGO SCHMIDT buy 5 M #N/A N/A Not Provided 15.02.2013
S&P Capital IQ LEO LARKIN buy 5 M 38 12 month 15.02.2013
Morgan Stanley PARETOSH MISRA Equalwt/In-Line 3 M #N/A N/A Not Provided 20.11.2012
Investec PIETER MARAIS hold 3 M 48 Not Provided 18.03.2011
Holdings By:
Barrick Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Newmont Mining Corporation acquires, explores, and develops mineral properties.
The Company produces gold from operations in the United States, Australia, Peru,
Indonesia, Ghana, Canada, New Zealand and Mexico. Newmont also mines and
processes copper in Indonesia.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (21.09.2012) 57.93
52-Week Low (30.04.2013) 31.33
Daily Volume
33.16
52-Week High % Change -42.76% Dividend Yield 4.45
52-Week Low % Change 5.84% Beta 0.67
% 52 Week Price Range High/Low 6.88% Equity Float 491.01
Shares Out 22.04.2013 492.3 Short Int 16.84
16'544.20 1 Yr Total Return -25.85%
Total Debt 6'298.00 YTD Return -27.82%
Preferred Stock 0.0 Adjusted BETA 0.670
Minority Interest 3'175.0 Analyst Recs 24
Cash and Equivalents 1'647.00 Consensus Rating 3.833
Enterprise Value 24'711.20
Average Volume 5 Day 6'903'181
NEM US EQUITY YTD Change - Average Volume 30 Day 9'651'695
NEM US EQUITY YTD % CHANGE - Average Volume 3 Month 8'808'492
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
6'124.0 7'705.0 9'540.0 10'358.0 9'868.0 10'576.0 9'362.0 9'453.3 11'102.3 2'203.4 2'343.0
3.70x 3.46x 3.45x 3.38x 3.13x 12.61x 13.44x 2.64x 2.24x 11.34x 10.71x
2'139.0 3'799.0 5'118.0 5'162.0 4'169.0 5'185.0 3'731.0 3'619.6 4'697.3 802.7 904.0
10.60x 7.02x 6.43x 6.78x 7.41x 6.08x 7.71x 6.83x 5.26x 6.21x 5.57x
831.0 1'297.0 2'277.0 366.0 1'809.0 342.0 1'634.0 1'382.9 1'977.4 316.7 370.7
20.98x 17.02x 13.44x 13.92x 12.29x 11.55x 12.54x 11.79x 9.24x 10.24x 8.74x
EBITDA 4'169.00 Long-Term Rating Date 11.08.2008
EBIT 3'137.00 Long-Term Rating BBB+
Operating Margin 31.79% Long-Term Outlook NEG
Pretax Margin 31.04% Short-Term Rating Date -
Return on Assets 5.59% Short-Term Rating -
Return on Common Equity 12.12%
Return on Capital 9.02% EBITDA/Interest Exp. 11.71
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. 2.69
Net Debt/EBITDA 1.32
Gross Margin 46.6% Total Debt/EBITDA 1.71
EBITDA Margin 39.9%
EBIT Margin 28.4% Total Debt/Equity 45.7%
Net Income Margin 18.3% Total Debt/Capital 27.1%
Asset Turnover 0.32
Current Ratio 1.89 Net Fixed Asset Turnover 0.54
Quick Ratio 0.80 Accounts receivable turnover-days 28.77
Debt to Assets 21.24% Inventory Days 111.05
Tot Debt to Common Equity 45.73% Accounts Payable Turnover Day 34.85
Accounts Receivable Turnover 12.69 Cash Conversion Cycle 89.70
Inventory Turnover 3.29
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Newmont Mining CorpPrice/Volume
Valuation Analysis
7'046'134.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 61'681'268 12.53 - 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 39'690'300 8.06 (10'014'717) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 29'136'091 5.92 91'985 29.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 23'252'143 4.72 1'215'913 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 20'452'474 4.15 (543'864) 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 12'509'376 2.54 8'462'980 31.03.2013 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 12'128'463 2.46 (5'869'326) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 9'840'813 2 (3'033'787) 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 8'086'219 1.64 1'819'020 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 7'585'611 1.54 (37'784) 31.03.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 7'008'200 1.42 7'008'200 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 6'878'622 1.4 410'310 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 6'023'181 1.22 (290'400) 31.03.2013 Hedge Fund Manager
UBS n/a ULT-AGG 5'132'224 1.04 322'413 31.03.2013 Unclassified
GAMCO n/a ULT-AGG 5'044'086 1.02 405'185 31.12.2012 Unclassified
LAZARD ASSET MANAGEM n/a ULT-AGG 4'937'393 1 (276'645) 31.03.2013 Unclassified
JP MORGAN n/a ULT-AGG 4'884'655 0.99 (1'656'954) 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 4'796'938 0.97 (408'945) 31.12.2012 Government
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 4'397'226 0.89 950'823 31.12.2012 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 3'840'057 0.78 261'014 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies PETER D WARD hold 3 M 32 12 month 30.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 33 12 month 30.04.2013
EVA Dimensions CRAIG STERLING overweight 5 D #N/A N/A Not Provided 30.04.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 56 Not Provided 29.04.2013
Deutsche Bank JORGE M BERISTAIN sell 1 M 24 12 month 29.04.2013
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 41 12 month 29.04.2013
Sterne, Agee & Leach MICHAEL S DUDAS buy 5 M 65 12 month 29.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 39 Not Provided 28.04.2013
Stifel GEORGE J TOPPING hold 3 M #N/A N/A Not Provided 26.04.2013
Argus Research Corp WILLIAM V SELESKY buy 5 M 60 Not Provided 24.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 41 12 month 23.04.2013
TD Securities GREG BARNES hold 3 M 37 12 month 23.04.2013
Barclays FAROOQ HAMED overweight 5 M 45 Not Provided 23.04.2013
Credit Suisse ANITA SONI neutral 3 M 45 Not Provided 22.04.2013
JPMorgan JOHN BRIDGES overweight 5 M 51 6 month 19.04.2013
BB&T Capital Markets GARRETT S. NELSON buy 5 M 52 12 month 18.04.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 52 Not Provided 11.04.2013
GMP GEORGE V ALBINO buy 5 M 60 Not Provided 02.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 43 Not Provided 12.03.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 44 Not Provided 07.11.2012
S&P Capital IQ LEO LARKIN hold 3 D 53 12 month 07.09.2012
Morgan Stanley PARETOSH MISRA Equalwt/In-Line 3 M #N/A N/A Not Provided 27.04.2012
Holdings By:
Newmont Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Randgold Resources Ltd. provides mining services. The Company offers
acquisition, development, and exploration of gold and other precious metal in
Africa.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (05.10.2012) 127.27
52-Week Low (17.04.2013) 66.51
Daily Volume
80.25
52-Week High % Change -36.95% Dividend Yield 0.62
52-Week Low % Change 20.66% Beta 0.64
% 52 Week Price Range High/Low 22.61% Equity Float -
Shares Out 30.04.2013 92.1 Short Int 1.36
7'393.58 1 Yr Total Return 3.96%
Total Debt 18.02 YTD Return -18.61%
Preferred Stock 0.0 Adjusted BETA 0.643
Minority Interest 166.1 Analyst Recs 10
Cash and Equivalents 390.76 Consensus Rating 4.400
Enterprise Value 7'302.01
Average Volume 5 Day 750'011
GOLD US EQUITY YTD Change - Average Volume 30 Day 948'237
GOLD US EQUITY YTD % CHANGE - Average Volume 3 Month 770'410
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
338.6 432.8 484.6 1'127.1 1'317.8 1'127.1 1'317.8 1'383.4 1'791.2 339.0 361.0
9.01x 15.50x 14.79x 7.97x 6.59x 28.37x 26.72x 5.31x 3.82x - -
97.3 142.3 164.3 581.9 699.2 581.9 699.2 697.0 989.4 - -
31.34x 47.15x 43.62x 15.44x 12.43x 15.44x 12.43x 10.48x 7.38x - -
41.6 69.4 103.5 383.9 431.8 383.9 431.8 424.2 657.8 85.0 94.5
78.87x 94.26x 72.03x 24.30x 20.57x 24.30x 20.57x 18.57x 11.93x 16.95x 14.86x
EBITDA 699.18 Long-Term Rating Date -
EBIT 567.44 Long-Term Rating -
Operating Margin 43.06% Long-Term Outlook -
Pretax Margin 43.12% Short-Term Rating Date -
Return on Assets 14.57% Short-Term Rating -
Return on Common Equity 16.52%
Return on Capital 18.72% EBITDA/Interest Exp. 582.65
Asset Turnover 0.47% (EBITDA-Capex)/Interest Exp. 114.09
Net Debt/EBITDA -0.36
Gross Margin 51.1% Total Debt/EBITDA 0.00
EBITDA Margin 51.7%
EBIT Margin 39.9% Total Debt/Equity 0.7%
Net Income Margin 32.8% Total Debt/Capital 0.6%
Asset Turnover 0.47
Current Ratio 4.07 Net Fixed Asset Turnover 1.07
Quick Ratio 1.92 Accounts receivable turnover-days -
Debt to Assets 0.58% Inventory Days -
Tot Debt to Common Equity 0.69% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 136.09
Inventory Turnover -
Fiscal Year Ended
Randgold Resources LtdPrice/Volume
Valuation Analysis
854'639.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 8'508'542 9.24 (57'745) 26.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 6'627'558 7.19 365'169 29.04.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 6'279'467 6.82 265'676 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 4'049'382 4.4 (992'666) 31.03.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 3'917'000 4.25 3'917'000 31.12.2012 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 1'639'811 1.78 442'950 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'530'963 1.66 (121'450) 31.03.2013 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 1'487'200 1.61 954'000 31.03.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'264'736 1.37 - 31.03.2013 Hedge Fund Manager
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 1'013'740 1.1 (96'778) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 947'594 1.03 (20'901) 31.03.2013 Investment Advisor
PAULSON & CO PAULSON & CO 13F 930'502 1.01 - 31.12.2012 Hedge Fund Manager
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 891'270 0.97 (60'950) 31.03.2013 Hedge Fund Manager
INVESCO LTD n/a ULT-AGG 821'510 0.89 (72'716) 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 818'535 0.89 1'320 31.12.2012 Unclassified
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 656'494 0.71 30'000 31.12.2012 Investment Advisor
ASA BERMUDA LIMITED ASA BERMUDA LIMITED 13F 444'700 0.48 - 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 399'700 0.43 171'000 31.12.2012 Hedge Fund Manager
NIKKO ASSET MANAGEME n/a ULT-AGG 386'300 0.42 65'300 31.03.2013 Unclassified
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 385'000 0.42 - 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Dundee Securities Corp JOSH WOLFSON buy 5 M 105 Not Provided 30.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 91 Not Provided 28.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 94 12 month 23.04.2013
BMO Capital Markets ANDREW BREICHMANAS outperform 5 U 100 Not Provided 14.04.2013
Canaccord Genuity Corp TIM DUDLEY buy 5 M 133 12 month 11.04.2013
Clarus Securities NANA SANGMUAH buy 5 M 120 12 month 01.04.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 28.03.2013
S&P Capital IQ LEO LARKIN buy 5 M 125 Not Provided 16.11.2012
GARP Research SETH DADDS buy 5 M #N/A N/A Not Provided 10.08.2012
Holdings By:
Randgold Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Yamana Gold Inc. is an intermediate gold producer with production, development
stage, and exploration properties throughout Brazil. The Company also holds
gold exploration properties in Argentina.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (09.11.2012) 20.59
52-Week Low (17.04.2013) 11.02
Daily Volume
12.12
52-Week High % Change -41.14% Dividend Yield -
52-Week Low % Change 9.98% Beta 0.75
% 52 Week Price Range High/Low 11.49% Equity Float 749.87
Shares Out 30.04.2013 752.4 Short Int 5.36
9'119.17 1 Yr Total Return -10.56%
Total Debt 765.91 YTD Return -29.27%
Preferred Stock 0.0 Adjusted BETA 0.747
Minority Interest 46.8 Analyst Recs 23
Cash and Equivalents 349.59 Consensus Rating 4.304
Enterprise Value 9'683.88
Average Volume 5 Day 5'323'283
AUY US EQUITY YTD Change - Average Volume 30 Day 8'421'382
AUY US EQUITY YTD % CHANGE - Average Volume 3 Month 7'779'908
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
949.4 1'183.3 1'686.8 2'173.3 2'336.8 2'173.3 2'336.8 2'524.8 3'069.9 551.3 652.8
6.36x 7.39x 5.76x 5.04x 5.73x 18.01x 21.98x 3.82x 2.99x 17.57x 14.88x
438.9 575.5 884.1 1'262.7 1'269.4 1'271.5 1'502.0 1'325.6 1'770.8 262.7 337.7
13.76x 15.19x 11.00x 8.67x 10.56x 8.61x 8.92x 7.31x 5.47x 7.37x 7.02x
434.8 192.6 466.5 548.3 442.1 548.3 442.1 596.9 829.5 113.0 153.0
- - - - - 0.00x 0.00x 15.70x 11.56x 15.07x 13.48x
EBITDA 1'269.45 Long-Term Rating Date -
EBIT 885.71 Long-Term Rating -
Operating Margin 37.90% Long-Term Outlook -
Pretax Margin 34.88% Short-Term Rating Date -
Return on Assets 3.25% Short-Term Rating -
Return on Common Equity 4.84%
Return on Capital - EBITDA/Interest Exp. 22.03
Asset Turnover 0.20% (EBITDA-Capex)/Interest Exp. -4.66
Net Debt/EBITDA 0.44
Gross Margin 64.4% Total Debt/EBITDA 0.74
EBITDA Margin 50.4%
EBIT Margin 33.4% Total Debt/Equity 9.8%
Net Income Margin 18.9% Total Debt/Capital 8.9%
Asset Turnover 0.20
Current Ratio 1.38 Net Fixed Asset Turnover 0.24
Quick Ratio 0.78 Accounts receivable turnover-days 19.25
Debt to Assets 6.49% Inventory Days 70.76
Tot Debt to Common Equity 9.80% Accounts Payable Turnover Day 130.52
Accounts Receivable Turnover 18.96 Cash Conversion Cycle -62.98
Inventory Turnover 5.16
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Yamana Gold IncPrice/Volume
Valuation Analysis
5'104'812.00
Current Price (5/dd/yy) Market Data
'
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500.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 78'066'044 10.38 - 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 39'560'804 5.26 6'000'156 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 32'345'793 4.3 1'752'155 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 30'395'201 4.04 33'993 29.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 20'933'359 2.78 (281'596) 31.12.2012 Bank
ALLIANZ ASSET MANAGE n/a ULT-AGG 14'372'698 1.91 4'180'320 31.03.2013 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 13'228'300 1.76 (4'648'298) 31.12.2012 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 11'430'227 1.52 11'430'227 31.03.2013 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 10'433'341 1.39 10'433'341 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 10'227'965 1.36 10'227'965 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 9'535'253 1.27 307'566 31.12.2012 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 8'387'255 1.11 (3'112'528) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 7'226'163 0.96 (304'473) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 6'409'801 0.85 160'000 28.02.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 6'398'774 0.85 6'398'774 31.12.2012 Investment Advisor
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 6'246'128 0.83 6'246'128 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 6'019'943 0.8 783'343 31.03.2013 Hedge Fund Manager
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 5'959'128 0.79 5'959'128 31.12.2012 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 5'822'420 0.77 352'746 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 5'761'349 0.77 5'761'349 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets DAN ROLLINS outperform 5 M 15 12 month 29.04.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 D 17 12 month 29.04.2013
HSBC PATRICK CHIDLEY neutral 3 M 13 Not Provided 28.04.2013
Macquarie TONY LESIAK neutral 3 M 12 12 month 25.04.2013
Raymond James BRAD HUMPHREY outperform 5 M 20 12 month 24.04.2013
Morgan Stanley PARETOSH MISRA Overwt/In-Line 5 M 16 12 month 23.04.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 17 12 month 23.04.2013
TD Securities STEVEN J GREEN buy 5 M 20 12 month 23.04.2013
Barclays FAROOQ HAMED overweight 5 M 17 Not Provided 23.04.2013
Credit Suisse ANITA SONI outperform 5 M 19 Not Provided 22.04.2013
Davenport & Co LLOYD T O'CARROLL buy 5 M 14 Not Provided 22.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 19 12 month 22.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 16.04.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 22 Not Provided 15.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 21 12 month 15.04.2013
Davy BART JAWORSKI underperform 1 D #N/A N/A Not Provided 15.04.2013
CIBC World Markets ALEC KODATSKY sector outperform 5 M 25 Not Provided 11.04.2013
National Bank Financial STEPHEN PARSONS outperform 5 M 20 12 month 09.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 16 Not Provided 09.04.2013
GMP GEORGE V ALBINO buy 5 M 22 Not Provided 02.04.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 15 Not Provided 22.02.2013
VSA Capital Ltd CHARLIE LONG not rated #N/A N/A M #N/A N/A Not Provided 10.01.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 21 12 month 19.06.2012
Holdings By:
Yamana Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Gold Fields Limited produces precious metals. The Company has mines in South
Africa, Ghana, and Australia, as well as a partnership in Finland. Gold Fields
has a precious metals programs in Africa, Australasia, Europe, North America,
and South America.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.06.2012) 12.09
52-Week Low (17.04.2013) 6.23
Daily Volume
6.84
52-Week High % Change -43.40% Dividend Yield -
52-Week Low % Change 9.79% Beta 0.75
% 52 Week Price Range High/Low 10.42% Equity Float -
Shares Out 07.03.2013 736.1 Short Int 6.16
5'035.26 1 Yr Total Return -38.34%
Total Debt 16'015.70 YTD Return -35.74%
Preferred Stock 0.0 Adjusted BETA 0.745
Minority Interest 1'803.9 Analyst Recs 3
Cash and Equivalents 5'195.60 Consensus Rating 3.000
Enterprise Value -
Average Volume 5 Day 4'377'579
GFI US EQUITY YTD Change - Average Volume 30 Day 6'199'734
GFI US EQUITY YTD % CHANGE - Average Volume 3 Month 5'902'750
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
23'009.5 29'086.9 31'565.3 25'263.7 28'915.8 29'609.9 42'193.5 28'557.2 30'284.2 - -
3.10x 2.56x 2.56x 3.99x 3.05x 13.11x 8.38x 2.03x 1.84x - -
8'713.0 10'955.0 11'960.3 13'527.5 14'243.0 13'851.2 20'100.6 12'491.6 14'066.7 - -
8.19x 6.80x 6.75x 7.45x 6.20x 0.00x 4.39x - - - -
4'457.5 1'535.6 3'631.4 7'026.7 5'658.1 7'026.7 5'658.1 4'000.8 5'404.3 - -
- - - - - 0.00x 0.00x 10.51x 8.24x - -
EBITDA 14'243.00 Long-Term Rating Date 15.11.2012
EBIT 10'149.20 Long-Term Rating BB+
Operating Margin 35.10% Long-Term Outlook STABLE
Pretax Margin 22.47% Short-Term Rating Date 15.11.2012
Return on Assets 6.31% Short-Term Rating B
Return on Common Equity 11.52%
Return on Capital 9.18% EBITDA/Interest Exp. 24.36
Asset Turnover 0.47% (EBITDA-Capex)/Interest Exp. 6.99
Net Debt/EBITDA 0.54
Gross Margin 38.7% Total Debt/EBITDA 0.80
EBITDA Margin 47.6%
EBIT Margin 33.6% Total Debt/Equity 31.2%
Net Income Margin 19.6% Total Debt/Capital 23.2%
Asset Turnover 0.47
Current Ratio 1.76 Net Fixed Asset Turnover 0.72
Quick Ratio 0.39 Accounts receivable turnover-days 15.92
Debt to Assets 16.85% Inventory Days -
Tot Debt to Common Equity 31.19% Accounts Payable Turnover Day -
Accounts Receivable Turnover 22.99 Cash Conversion Cycle 69.00
Inventory Turnover -
Fiscal Year Ended
Gold Fields LtdPrice/Volume
Valuation Analysis
3'731'225.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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10'000.0
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20'000.0
25'000.0
30'000.0
35'000.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 47'177'664 6.41 (20'500) 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 35'916'727 4.88 1'204'375 29.04.2013 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 22'259'805 3.02 1'621'222 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 9'740'161 1.32 (96'300) 31.03.2013 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 7'145'000 0.97 4'291'310 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 6'975'326 0.95 (1'745'314) 26.04.2013 Investment Advisor
PAULSON & CO PAULSON & CO 13F 6'541'600 0.89 - 31.12.2012 Hedge Fund Manager
ALLIANZ ASSET MANAGE n/a ULT-AGG 6'270'156 0.85 1'864'617 31.03.2013 Investment Advisor
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 5'423'998 0.74 (1'957'356) 31.12.2012 Investment Advisor
RUFFER LLP RUFFER LLP 13F 5'396'309 0.73 (21'230) 31.03.2013 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 5'162'800 0.7 (1'012'600) 31.12.2012 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 4'906'608 0.67 (128'413) 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 4'470'669 0.61 (469'100) 31.12.2012 Unclassified
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 4'338'700 0.59 (368'600) 31.12.2012 Investment Advisor
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 3'938'303 0.53 (21'100) 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 3'907'319 0.53 1'826 31.03.2013 Hedge Fund Manager
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 3'806'476 0.52 - 28.02.2013 Investment Advisor
PROSPECTOR PARTNERS PROSPECTOR PARTNERS 13F 3'774'300 0.51 (145'200) 31.12.2012 Hedge Fund Manager
PASSPORT CAPITAL LLC PASSPORT CAPITAL LLC 13F 3'394'316 0.46 3'394'316 31.12.2012 Hedge Fund Manager
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 2'993'616 0.41 382'294 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC PATRICK CHIDLEY neutral 3 D 8 Not Provided 28.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 8 12 month 23.04.2013
EVA Dimensions TEAM COVERAGE dropped coverage #N/A N/A M #N/A N/A Not Provided 18.01.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 13 12 month 04.03.2010
Holdings By:
Gold Fields Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Silver Wheaton Corporation purchases and sells by-product silver from operating
mines. The Company has long term contracts to purchase all or a portion of the
silver production from mines in Mexico, Sweden, Peru, Greece and the United
States.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (01.11.2012) 41.30
52-Week Low (18.04.2013) 21.79
Daily Volume
24.34
52-Week High % Change -41.07% Dividend Yield -
52-Week Low % Change 11.70% Beta 1.08
% 52 Week Price Range High/Low 13.07% Equity Float 354.14
Shares Out 30.04.2013 354.6 Short Int 3.75
8'631.23 1 Yr Total Return -6.96%
Total Debt 50.06 YTD Return -32.24%
Preferred Stock 0.0 Adjusted BETA 1.079
Minority Interest 0.0 Analyst Recs 15
Cash and Equivalents 778.22 Consensus Rating 4.600
Enterprise Value 7'903.07
Average Volume 5 Day 5'029'980
SLW US EQUITY YTD Change - Average Volume 30 Day 6'464'701
SLW US EQUITY YTD % CHANGE - Average Volume 3 Month 5'300'604
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
166.7 239.3 423.4 730.0 849.6 730.0 849.6 966.9 1'094.1 242.6 228.8
12.14x 21.12x 31.91x 13.01x 14.18x 62.08x 52.82x 9.34x 8.28x 38.90x 41.36x
105.5 158.5 316.2 618.8 701.5 618.8 701.5 774.3 889.9 197.3 181.3
19.18x 31.87x 42.72x 15.35x 17.17x 15.35x 17.17x 10.21x 8.88x 9.99x 10.19x
17.3 117.9 153.4 550.0 586.0 550.0 586.0 562.9 647.7 144.5 124.0
- - - - - 0.00x 0.00x 15.56x 13.82x 15.92x 15.48x
EBITDA 701.46 Long-Term Rating Date -
EBIT 600.00 Long-Term Rating -
Operating Margin 70.63% Long-Term Outlook -
Pretax Margin 70.72% Short-Term Rating Date -
Return on Assets 19.34% Short-Term Rating -
Return on Common Equity 20.34%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -1.04
Gross Margin 74.3% Total Debt/EBITDA 0.07
EBITDA Margin 82.6%
EBIT Margin 70.6% Total Debt/Equity 1.6%
Net Income Margin 69.0% Total Debt/Capital 1.6%
Asset Turnover 0.28
Current Ratio 15.88 Net Fixed Asset Turnover 0.41
Quick Ratio 15.86 Accounts receivable turnover-days 2.17
Debt to Assets 1.57% Inventory Days -
Tot Debt to Common Equity 1.61% Accounts Payable Turnover Day 24.47
Accounts Receivable Turnover 168.45 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Silver Wheaton CorpPrice/Volume
Valuation Analysis
5'928'518.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100.0
200.0
300.0
400.0
500.0
600.0
700.0
800.0
900.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 26'099'114 7.36 - 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 14'931'769 4.21 (446'773) 29.04.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 13'917'000 3.93 13'917'000 31.12.2012 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 8'175'300 2.31 (31'900) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 7'447'807 2.1 (6'668'009) 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 6'662'901 1.88 830'039 31.12.2012 Bank
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 6'495'536 1.83 (1'461'400) 31.12.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 5'382'984 1.52 180'499 31.03.2013 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 4'958'532 1.4 (2'425) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 4'728'500 1.33 20'000 31.12.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 4'349'599 1.23 90'737 31.12.2012 Investment Advisor
TCW GROUP INC TCW GROUP INCORPORAT 13F 3'789'248 1.07 (27'067) 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 3'473'930 0.98 (35'700) 31.03.2013 Hedge Fund Manager
GREAT WEST LIFE ASSU GREAT WEST LIFE ASSU 13F 3'099'463 0.87 (230'385) 31.03.2013 Insurance Company
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 2'913'501 0.82 700'890 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 2'750'546 0.78 (488'041) 31.03.2013 Investment Advisor
UBS n/a ULT-AGG 2'708'496 0.76 (136'469) 31.03.2013 Unclassified
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 2'633'600 0.74 986'200 31.12.2012 Hedge Fund Manager
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 2'612'842 0.74 283'586 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 2'596'512 0.73 665'106 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie TONY LESIAK neutral 3 M 27 12 month 26.04.2013
Credit Suisse RALPH M PROFITI outperform 5 M 37 Not Provided 24.04.2013
Raymond James BRAD HUMPHREY outperform 5 M 42 12 month 24.04.2013
Scotia Capital TREVOR TURNBULL focus stock 5 M 50 12 month 23.04.2013
TD Securities DANIEL EARLE buy 5 M 37 12 month 23.04.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 33 12 month 19.04.2013
JPMorgan JOHN BRIDGES overweight 5 M 40 6 month 19.04.2013
BMO Capital Markets ANDREW KAIP outperform 5 M 40 Not Provided 15.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 45 Not Provided 15.04.2013
CIBC World Markets COSMOS CHIU sector outperform 5 M 45 Not Provided 11.04.2013
GMP CHELSEA HAMILTON buy 5 M 47 Not Provided 02.04.2013
Salman Partners DAVID WEST top pick 5 M 48 12 month 01.04.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 17.01.2013
Holdings By:
Silver Wheaton Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
AngloGold Ashanti Limited is a holding company for a group of companies which
explore for and mine gold internationally. The Group has operations in the Vaal
River and West Witwatersrand areas of South Africa as well as Namibia, Mali,
Brazil, Argentina, Australia, Tanzania and the United States.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (06.06.2012) 38.31
52-Week Low (17.04.2013) 17.45
Daily Volume
18.71
52-Week High % Change -51.16% Dividend Yield -
52-Week Low % Change 7.22% Beta 0.77
% 52 Week Price Range High/Low 6.04% Equity Float -
Shares Out 06.05.2013 383.7 Short Int 3.76
7'209.39 1 Yr Total Return -44.46%
Total Debt 30'375.96 YTD Return -40.23%
Preferred Stock 0.0 Adjusted BETA 0.770
Minority Interest 186.5 Analyst Recs 6
Cash and Equivalents 7'562.20 Consensus Rating 4.000
Enterprise Value -
Average Volume 5 Day 3'242'976
AU US EQUITY YTD Change - Average Volume 30 Day 2'991'616
AU US EQUITY YTD % CHANGE - Average Volume 3 Month 2'459'672
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
29'774.0 30'745.0 38'833.0 47'849.0 52'160.3 47'846.3 51'994.5 59'211.2 61'408.2 - -
3.48x 3.88x 3.60x 3.00x 2.30x 11.44x 9.54x 1.53x 1.38x - -
3'278.0 (2'435.0) 9'720.0 20'443.0 19'105.5 20'438.6 18'922.1 21'784.6 24'700.1 - -
31.64x - 14.37x 7.03x 6.27x 7.03x 6.28x - - - -
(16'138.0) (2'762.0) 637.0 11'282.0 6'814.6 11'269.3 6'452.4 8'296.3 8'453.8 - -
- - - - - 0.00x 0.00x 8.89x 7.30x - -
EBITDA 19'105.47 Long-Term Rating Date 10.12.2012
EBIT 12'553.61 Long-Term Rating BBB-
Operating Margin 24.07% Long-Term Outlook NEG
Pretax Margin 18.43% Short-Term Rating Date -
Return on Assets 7.08% Short-Term Rating -
Return on Common Equity 15.88%
Return on Capital 12.20% EBITDA/Interest Exp. 10.07
Asset Turnover 0.54% (EBITDA-Capex)/Interest Exp. 2.46
Net Debt/EBITDA 1.16
Gross Margin 36.1% Total Debt/EBITDA 1.54
EBITDA Margin 36.6%
EBIT Margin 24.1% Total Debt/Equity 65.8%
Net Income Margin 13.1% Total Debt/Capital 39.6%
Asset Turnover 0.54
Current Ratio 1.37 Net Fixed Asset Turnover 0.90
Quick Ratio 0.53 Accounts receivable turnover-days 14.36
Debt to Assets 28.22% Inventory Days 105.75
Tot Debt to Common Equity 65.78% Accounts Payable Turnover Day 57.07
Accounts Receivable Turnover 25.48 Cash Conversion Cycle 63.01
Inventory Turnover 3.46
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
AngloGold Ashanti LtdPrice/Volume
Valuation Analysis
1'819'630.00
Current Price (5/dd/yy) Market Data
'
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20'000.0
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60'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PAULSON & CO PAULSON & CO 13F 28'203'999 7.35 (199'546) 31.12.2012 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 15'624'679 4.07 1'302'862 29.04.2013 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 11'768'176 3.07 (511'763) 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 8'747'623 2.28 (128'150) 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 6'722'122 1.75 (133'085) 31.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 5'693'290 1.48 164'885 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 5'230'372 1.36 (1'261'046) 26.04.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 4'945'084 1.29 (259'531) 31.03.2013 Hedge Fund Manager
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 4'186'865 1.09 (559'541) 31.12.2012 Investment Advisor
DUPONT CAPITAL MANAG DUPONT CAPITAL MANAG 13F 3'731'629 0.97 3'731'629 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 3'240'700 0.84 (420'800) 31.12.2012 Hedge Fund Manager
NUVEEN ASSET MANAGEM Multiple Portfolios MF-AGG 2'740'632 0.71 162'163 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 2'635'169 0.69 (10'100) 31.12.2012 Investment Advisor
PLATINUM INVESTMENT PLATINUM INVESTMENT 13F 2'204'815 0.57 147'000 31.12.2012 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 1'741'097 0.45 (461'493) 31.12.2012 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 1'718'056 0.45 (681'300) 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 1'612'030 0.42 88'230 31.12.2012 Unclassified
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 1'609'197 0.42 (8'000) 31.12.2012 Investment Advisor
NIKKO ASSET MANAGEME n/a ULT-AGG 1'607'200 0.42 252'500 31.03.2013 Unclassified
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 1'542'152 0.4 - 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC PATRICK CHIDLEY overweight 5 M 31 Not Provided 28.04.2013
Societe Generale BRUCE ALWAY hold 3 M 25 12 month 26.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 25 12 month 23.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 05.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 0 Not Provided 24.02.2010
Holdings By:
AngloGold Ashanti Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Cia de Minas Buenaventura S.A. explores for, mines, and processes gold, silver,
zinc, and other metals. The Company operates mines in Peru, a lime plant, an
electric power transmission company, and an engineering services company.
Buenaventura also markets metal concentrates to smelters internationally.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (06.06.2012) 42.73
52-Week Low (07.05.2013) 19.02
Daily Volume
19.54
52-Week High % Change -54.27% Dividend Yield -
52-Week Low % Change 2.73% Beta 0.56
% 52 Week Price Range High/Low 2.19% Equity Float -
Shares Out 04.02.2013 274.9 Short Int 1.40
5'385.90 1 Yr Total Return -48.50%
Total Debt 179.30 YTD Return -44.97%
Preferred Stock 0.0 Adjusted BETA 0.555
Minority Interest 262.3 Analyst Recs 13
Cash and Equivalents 241.22 Consensus Rating 3.308
Enterprise Value 5'612.84
Average Volume 5 Day 1'308'615
BVN US EQUITY YTD Change - Average Volume 30 Day 1'566'445
BVN US EQUITY YTD % CHANGE - Average Volume 3 Month 1'503'830
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
766.6 881.5 1'103.8 1'556.6 1'563.5 1'556.6 1'508.9 1'641.5 1'761.1 373.3 413.3
6.61x 9.30x 10.85x 6.05x 6.00x 24.64x 25.51x 3.40x 3.14x - -
(54.4) 351.5 475.4 820.2 571.9 629.3 571.9 645.8 769.2 174.0 208.0
- 23.33x 25.19x 11.49x 16.39x 14.97x 16.39x 8.69x 7.30x - -
153.3 593.6 660.8 858.9 684.7 858.9 684.7 544.0 608.6 125.0 147.0
33.61x 14.29x 18.66x 11.16x 13.40x 11.16x 13.40x 8.86x 8.31x 9.45x 8.86x
EBITDA 571.92 Long-Term Rating Date -
EBIT 418.23 Long-Term Rating -
Operating Margin 26.75% Long-Term Outlook -
Pretax Margin 56.63% Short-Term Rating Date -
Return on Assets 13.23% Short-Term Rating -
Return on Common Equity 16.53%
Return on Capital 16.37% EBITDA/Interest Exp. 68.99
Asset Turnover 0.34% (EBITDA-Capex)/Interest Exp. 15.56
Net Debt/EBITDA -
Gross Margin 39.7% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 23.0% Total Debt/Equity 4.8%
Net Income Margin 43.8% Total Debt/Capital 4.3%
Asset Turnover 0.34
Current Ratio 2.30 Net Fixed Asset Turnover 1.45
Quick Ratio 1.42 Accounts receivable turnover-days 39.12
Debt to Assets 3.91% Inventory Days 65.36
Tot Debt to Common Equity 4.84% Accounts Payable Turnover Day 59.17
Accounts Receivable Turnover 9.33 Cash Conversion Cycle 45.41
Inventory Turnover 5.58
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Cia de Minas Buenaventura SAPrice/Volume
Valuation Analysis
1'735'584.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 25'536'584 9.29 (4'985'793) 26.04.2013 Investment Advisor
VONTOBEL ASSET MANAG VONTOBEL ASSET MANAG 13F 12'497'006 4.55 4'814'696 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 12'079'992 4.39 349'674 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 8'641'735 3.14 2'695'645 31.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 5'406'540 1.97 355'351 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 4'777'677 1.74 371'700 29.04.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 4'709'673 1.71 136'724 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 4'343'301 1.58 (1'580'101) 31.03.2013 Investment Advisor
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 2'559'961 0.93 (1'514'324) 31.12.2012 Investment Advisor
HARRIS TRUST & SAVIN Multiple Portfolios MF-AGG 2'471'676 0.9 558'323 31.12.2012 Unclassified
NORGES BANK NORGES BANK 13F 2'298'752 0.84 1'801'505 31.12.2012 Government
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 1'806'500 0.66 (22'000) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 1'778'056 0.65 (70'363) 31.12.2012 Investment Advisor
VONTOBEL ASSET MANAG Multiple Portfolios MF-AGG 1'651'026 0.6 224'921 31.12.2012 Investment Advisor
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 1'460'432 0.53 (302'643) 31.12.2012 Investment Advisor
PARAMETRIC PORTFOLIO PARAMETRIC PORTFOLIO 13F 1'434'207 0.52 33'736 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 1'112'800 0.4 - 31.12.2012 Unclassified
ING INV MANAGEMENT E ING INVESTMENT MANAG 13F 1'110'680 0.4 (475'416) 31.12.2012 Investment Advisor
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 1'097'662 0.4 (1'561) 28.02.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 1'002'949 0.36 245'358 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley CARLOS DE ALBA Equalwt/No Rating 3 M 24 12 month 30.04.2013
Credit Suisse SANTIAGO PEREZ TEUFFER neutral 3 D 28 Not Provided 30.04.2013
Banco BTG Pactual SA CESAR PEREZ-NOVOA buy 5 M 30 12 month 29.04.2013
Grupo Santander WALTER CHIARVESIO buy 5 M 33 Not Provided 23.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 25 12 month 23.04.2013
JPMorgan JOHN BRIDGES neutral 3 M 34 6 month 19.04.2013
Inteligo SAB LALI MERINO buy 5 M 32 Not Provided 16.04.2013
EVA Dimensions CRAIG STERLING hold 3 M #N/A N/A Not Provided 27.03.2013
Euro Pacific Capital Inc HEIKO IHLE neutral 3 M 27 12 month 11.03.2013
Kallpa Securities SAB EDDER CASTRO overweight 5 M 33 Not Provided 07.03.2013
Banco de Credito del Peru HECTOR JOSUE COLLANTES hold 3 M 33 Not Provided 01.03.2013
Holdings By:
Cia de Minas Buenaventura SA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
New Gold Inc. is a natural resource company. The Company acquires, explores,
and develops gold properties.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 12.84
52-Week Low (15.04.2013) 6.25
Daily Volume
7.54
52-Week High % Change -41.28% Dividend Yield -
52-Week Low % Change 20.64% Beta 0.97
% 52 Week Price Range High/Low 19.58% Equity Float 461.89
Shares Out 30.04.2013 476.9 Short Int 3.05
3'595.58 1 Yr Total Return -10.56%
Total Debt 847.80 YTD Return -31.64%
Preferred Stock 0.0 Adjusted BETA 0.967
Minority Interest 0.0 Analyst Recs 15
Cash and Equivalents 687.80 Consensus Rating 4.600
Enterprise Value 3'777.48
Average Volume 5 Day 2'926'144
NGD US EQUITY YTD Change - Average Volume 30 Day 3'913'002
NGD US EQUITY YTD % CHANGE - Average Volume 3 Month 3'314'747
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
143.1 323.8 530.5 695.9 791.3 695.9 791.3 937.9 989.2 254.0 286.5
2.55x 4.31x 6.83x 6.62x 6.86x 25.77x 25.89x 3.94x 3.67x - -
13.8 110.4 239.2 344.0 390.1 344.0 390.1 487.6 586.4 115.0 149.0
26.46x 12.64x 15.15x 13.39x 13.91x 13.39x 13.91x 7.75x 6.44x - -
(102.7) (194.3) 47.5 179.0 199.0 179.0 198.9 175.9 235.9 30.7 62.6
- - - - - 0.00x 0.00x 18.90x 14.25x 17.14x 15.58x
EBITDA 390.10 Long-Term Rating Date 27.03.2012
EBIT 273.90 Long-Term Rating BB-
Operating Margin 34.61% Long-Term Outlook STABLE
Pretax Margin 35.23% Short-Term Rating Date -
Return on Assets 5.31% Short-Term Rating -
Return on Common Equity 7.96%
Return on Capital - EBITDA/Interest Exp. 9.70
Asset Turnover 0.22% (EBITDA-Capex)/Interest Exp. -3.13
Net Debt/EBITDA 0.47
Gross Margin 85.3% Total Debt/EBITDA 2.20
EBITDA Margin 47.0%
EBIT Margin 30.6% Total Debt/Equity 31.7%
Net Income Margin 25.1% Total Debt/Capital 24.1%
Asset Turnover 0.22
Current Ratio 5.18 Net Fixed Asset Turnover 0.27
Quick Ratio 4.15 Accounts receivable turnover-days 11.11
Debt to Assets 19.79% Inventory Days 164.46
Tot Debt to Common Equity 31.68% Accounts Payable Turnover Day 32.87
Accounts Receivable Turnover 32.86 Cash Conversion Cycle 378.94
Inventory Turnover 2.22
Fiscal Year Ended
New Gold IncPrice/Volume
Valuation Analysis
3'049'889.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 62'551'684 13.13 - 26.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 51'620'702 10.84 - 29.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 35'745'701 7.5 (2'416'637) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 15'167'798 3.18 15'004'748 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 13'670'324 2.87 4'853'453 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 12'987'264 2.73 1'051'834 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 12'693'570 2.66 - 28.02.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 10'060'721 2.11 148'803 31.12.2012 Bank
RS INVESTMENT MANAGE RS INVESTMENT MANAGE 13F 9'900'164 2.08 258'671 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 8'366'671 1.76 (127'400) 31.03.2013 Hedge Fund Manager
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 6'168'803 1.29 (1'836'450) 31.12.2012 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 6'040'968 1.27 3'201'270 31.03.2013 Investment Advisor
GCIC LTD/CANADA GOODMAN & COMPANY IN 13F 5'839'800 1.23 45'000 31.12.2012 Investment Advisor
LASSONDE PIERRE n/a SEDI 5'645'000 1.18 - 22.03.2012 n/a
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 5'417'566 1.14 434'429 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 5'379'731 1.13 (238'800) 31.03.2013 Hedge Fund Manager
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 5'091'201 1.07 (179'446) 28.02.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 4'883'382 1.03 (27'471) 31.03.2013 Investment Advisor
OLIPHANT RANDALL n/a SEDI 4'570'855 0.96 320'855 23.11.2012 n/a
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 4'393'260 0.92 49'900 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets DAN ROLLINS outperform 5 M 9 12 month 29.04.2013
TD Securities STEVEN J GREEN buy 5 M 11 12 month 23.04.2013
Credit Suisse ANITA SONI outperform 5 M 13 Not Provided 22.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 14 12 month 22.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 16.04.2013
BMO Capital Markets ANDREW KAIP outperform 5 M 12 Not Provided 15.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 13 12 month 15.04.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 12 Not Provided 11.04.2013
National Bank Financial STEPHEN PARSONS outperform 5 M 12 12 month 09.04.2013
Casimir Capital STUART MCDOUGALL strong buy 5 M 16 12 month 09.04.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 16 12 month 08.04.2013
Scotia Capital TREVOR TURNBULL sector outperform 5 M 13 12 month 05.04.2013
GMP GEORGE V ALBINO buy 5 M 15 Not Provided 05.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 10 Not Provided 12.03.2013
Holdings By:
New Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Agnico Eagle Mines Limited is a gold producer with operations primarily in
northwestern Quebec, northern Mexico, northern Finland and Nunavut. The
Company also has exploration activities in Canada, Europe, Latin America, and
the United States. Agnico Eagle Mines focuses on the exploration, development,
and expansion of its gold properities primarily from underground operations.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (26.11.2012) 57.35
52-Week Low (07.05.2013) 29.84
Daily Volume
31.33
52-Week High % Change -45.37% Dividend Yield -
52-Week Low % Change 4.99% Beta 0.61
% 52 Week Price Range High/Low 5.41% Equity Float 171.85
Shares Out 30.04.2013 172.7 Short Int 1.80
5'411.32 1 Yr Total Return -15.42%
Total Debt 842.96 YTD Return -39.96%
Preferred Stock 0.0 Adjusted BETA 0.610
Minority Interest 0.0 Analyst Recs 25
Cash and Equivalents 351.28 Consensus Rating 3.560
Enterprise Value 5'902.96
Average Volume 5 Day 1'712'568
AEM US EQUITY YTD Change - Average Volume 30 Day 2'031'721
AEM US EQUITY YTD % CHANGE - Average Volume 3 Month 1'770'711
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
368.9 613.8 1'422.5 1'821.8 1'917.7 1'882.7 1'865.2 1'705.3 2'061.1 373.3 439.8
21.80x 14.47x 9.45x 3.75x 4.96x 18.58x 18.17x 3.62x 2.95x 16.03x 13.72x
94.9 202.5 601.8 752.9 787.4 801.6 735.0 618.9 868.2 178.5 222.8
84.80x 43.86x 22.34x 9.08x 12.08x 7.78x 10.31x 9.54x 6.80x 7.37x 7.63x
73.2 86.5 332.1 (568.9) 310.9 (535.6) 256.2 184.1 319.3 25.3 56.7
- - - - - 0.00x 0.00x 30.21x 17.55x 27.13x 22.33x
EBITDA 787.42 Long-Term Rating Date 12.03.2003
EBIT 515.56 Long-Term Rating NR
Operating Margin 26.88% Long-Term Outlook -
Pretax Margin 22.69% Short-Term Rating Date -
Return on Assets 5.00% Short-Term Rating -
Return on Common Equity 7.63%
Return on Capital 7.06% EBITDA/Interest Exp. 13.60
Asset Turnover 0.36% (EBITDA-Capex)/Interest Exp. 5.91
Net Debt/EBITDA 0.67
Gross Margin 39.0% Total Debt/EBITDA 1.10
EBITDA Margin 39.4%
EBIT Margin 24.5% Total Debt/Equity 24.7%
Net Income Margin 16.2% Total Debt/Capital 19.8%
Asset Turnover 0.36
Current Ratio 3.26 Net Fixed Asset Turnover 0.46
Quick Ratio 1.51 Accounts receivable turnover-days 15.79
Debt to Assets 16.04% Inventory Days 87.72
Tot Debt to Common Equity 24.72% Accounts Payable Turnover Day 50.91
Accounts Receivable Turnover 23.11 Cash Conversion Cycle 66.58
Inventory Turnover 4.16
Fiscal Year Ended
Agnico Eagle Mines LtdPrice/Volume
Valuation Analysis
1'704'097.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 20'005'396 11.6 - 26.04.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 11'305'234 6.55 696'000 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 10'965'646 6.36 1'566'877 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 7'852'302 4.55 (1'072'408) 29.04.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 6'703'930 3.89 (231'825) 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 4'829'613 2.8 (57'068) 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 4'508'247 2.61 1'219'028 31.12.2012 Bank
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 3'966'811 2.3 3'966'811 31.12.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 3'247'664 1.88 (83'945) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'465'218 1.43 (510'000) 31.12.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 2'433'065 1.41 (37'672) 31.03.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 2'203'819 1.28 1'150'325 31.12.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 2'127'726 1.23 75'223 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'551'262 0.9 (35'750) 31.03.2013 Hedge Fund Manager
GAMCO n/a ULT-AGG 1'516'976 0.88 (201'330) 31.12.2012 Unclassified
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'286'484 0.75 9'866 31.12.2012 Investment Advisor
VINIK ASSET MANAGEME VINIK ASSET MANAGEME 13F 1'179'900 0.68 155'300 31.12.2012 Hedge Fund Manager
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 1'173'439 0.68 92'994 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 1'122'414 0.65 (158'619) 31.12.2012 Investment Advisor
MANUFACTURERS LIFE I MANUFACTURERS LIFE I 13F 1'100'246 0.64 6'382 31.12.2012 Insurance Company
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets STEPHEN D WALKER outperform 5 M 40 12 month 29.04.2013
JPMorgan JOHN BRIDGES neutral 3 M 39 6 month 29.04.2013
Raymond James BRAD HUMPHREY market perform 3 M 46 12 month 29.04.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 29.04.2013
Canaccord Genuity Corp STEVEN BUTLER hold 3 M 41 Not Provided 29.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 48 12 month 29.04.2013
TD Securities GREG BARNES buy 5 M 41 12 month 29.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 38 12 month 29.04.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 47 12 month 29.04.2013
HSBC PATRICK CHIDLEY underweight 1 D 29 Not Provided 28.04.2013
National Bank Financial STEPHEN PARSONS sector perform 3 M 42 12 month 28.04.2013
Credit Suisse ANITA SONI outperform 5 M 50 Not Provided 26.04.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 54 Not Provided 26.04.2013
Salman Partners DAVID WEST buy 5 M 55 Not Provided 26.04.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 M 45 12 month 26.04.2013
GMP GEORGE V ALBINO buy 5 M 55 Not Provided 26.04.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 30 Not Provided 26.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 26.04.2013
Barclays FAROOQ HAMED equalweight 3 M 39 Not Provided 26.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 45 Not Provided 25.04.2013
Macquarie TONY LESIAK underperform 1 D 29 12 month 25.04.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 46 12 month 23.04.2013
Morgan Stanley PARETOSH MISRA Equalwt/In-Line 3 M #N/A N/A Not Provided 25.10.2012
Paradigm Capital Inc DON MACLEAN buy 5 M 59 12 month 05.01.2012
Holdings By:
Agnico Eagle Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Eldorado Gold Corporation acquires, explores, and develops mineral properties.
The Company currently has operating gold mines in Brazil, China, Turkey, Greece,
and surrounding regions.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (19.09.2012) 16.20
52-Week Low (17.04.2013) 6.59
Daily Volume
7.48
52-Week High % Change -53.83% Dividend Yield -
52-Week Low % Change 13.51% Beta 0.84
% 52 Week Price Range High/Low 9.26% Equity Float 708.10
Shares Out 30.04.2013 714.6 Short Int 3.14
5'345.05 1 Yr Total Return -35.82%
Total Debt 593.32 YTD Return -41.57%
Preferred Stock 0.0 Adjusted BETA 0.837
Minority Interest 284.1 Analyst Recs 21
Cash and Equivalents 818.83 Consensus Rating 4.143
Enterprise Value 5'554.44
Average Volume 5 Day 4'250'620
EGO US EQUITY YTD Change - Average Volume 30 Day 6'373'095
EGO US EQUITY YTD % CHANGE - Average Volume 3 Month 5'546'261
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
277.7 358.5 791.2 1'103.7 1'147.5 1'103.7 1'147.5 1'263.9 1'402.4 291.0 310.3
10.15x 21.00x 12.74x 6.66x 8.06x 30.37x 33.92x 4.58x 4.39x 19.51x 18.48x
132.0 181.2 423.3 643.9 584.4 643.9 584.4 632.6 724.4 136.0 146.5
21.36x 41.53x 23.82x 11.41x 15.83x 11.41x 15.83x 8.78x 7.67x 9.90x 10.08x
163.7 102.4 221.0 318.7 305.3 318.7 305.3 275.5 338.1 59.3 69.3
- - - - - 0.00x 0.00x 16.88x 13.83x 17.27x 16.66x
EBITDA 584.40 Long-Term Rating Date 13.11.2012
EBIT 470.87 Long-Term Rating BB
Operating Margin 41.03% Long-Term Outlook STABLE
Pretax Margin 38.89% Short-Term Rating Date -
Return on Assets 2.51% Short-Term Rating -
Return on Common Equity 3.32%
Return on Capital 3.23% EBITDA/Interest Exp. 83.69
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. 22.66
Net Debt/EBITDA -0.12
Gross Margin 62.7% Total Debt/EBITDA 0.94
EBITDA Margin 51.9%
EBIT Margin 41.8% Total Debt/Equity 10.0%
Net Income Margin 26.6% Total Debt/Capital 8.7%
Asset Turnover 0.16
Current Ratio 4.90 Net Fixed Asset Turnover 0.21
Quick Ratio 3.96 Accounts receivable turnover-days 22.79
Debt to Assets 7.48% Inventory Days 167.85
Tot Debt to Common Equity 10.01% Accounts Payable Turnover Day 189.39
Accounts Receivable Turnover 16.01 Cash Conversion Cycle 43.64
Inventory Turnover 2.17
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Eldorado Gold CorpPrice/Volume
Valuation Analysis
4'468'443.00
Current Price (5/dd/yy) Market Data
'.135
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1'200.0
1'400.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 115'755'188 16.2 - 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 47'460'386 6.64 (8'965'098) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 44'220'345 6.19 2'071'841 29.04.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 27'084'566 3.79 (178'880) 31.12.2012 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 17'214'008 2.41 1'231'174 31.12.2012 Bank
CARMIGNAC GESTION Multiple Portfolios MF-AGG 13'044'870 1.83 (14'814'642) 29.03.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 12'485'802 1.75 536'600 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 11'711'546 1.64 - 28.02.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 11'661'328 1.63 861'550 31.03.2013 Hedge Fund Manager
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 10'662'061 1.49 (256'391) 31.03.2013 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 10'493'352 1.47 335'758 31.12.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 10'031'223 1.4 (12'436) 31.03.2013 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 9'924'291 1.39 (1'473'143) 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 9'088'523 1.27 (223'376) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 8'932'322 1.25 329'970 31.12.2012 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 8'799'121 1.23 (2'010'762) 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 8'616'810 1.21 966'831 31.03.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 8'067'119 1.13 1'115'425 31.12.2012 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 8'034'377 1.12 (3'436'746) 31.12.2012 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 7'551'100 1.06 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Dundee Securities Corp JOSH WOLFSON neutral 3 M 10 Not Provided 30.04.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 10 12 month 29.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 13 Not Provided 28.04.2013
Macquarie TONY LESIAK neutral 3 M 8 12 month 25.04.2013
Raymond James BRAD HUMPHREY outperform 5 M 16 12 month 24.04.2013
Morgan Stanley PARETOSH MISRA Overwt/In-Line 5 M 10 12 month 23.04.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 12 12 month 23.04.2013
TD Securities STEVEN J GREEN action list buy 5 M 14 12 month 23.04.2013
Barclays FAROOQ HAMED equalweight 3 M 9 Not Provided 23.04.2013
Credit Suisse ANITA SONI outperform 5 M 15 Not Provided 22.04.2013
Cormark Securities Inc. MIKE KOZAK buy 5 M 12 12 month 22.04.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 19 Not Provided 16.04.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 16.04.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 13 Not Provided 15.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 13 12 month 15.04.2013
CIBC World Markets COSMOS CHIU sector outperform 5 M 15 Not Provided 11.04.2013
Salman Partners DAVID WEST buy 5 M 18 Not Provided 03.04.2013
GMP GEORGE V ALBINO buy 5 M 20 Not Provided 02.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 13 Not Provided 12.03.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 8 Not Provided 25.02.2013
Paradigm Capital Inc DON MACLEAN hold 3 M 18 12 month 21.02.2012
Holdings By:
Eldorado Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Kinross Gold Corporation is involved in the exploration, development, and
production of gold in countries located around the world. The Company currently
has operations in the United States, Brazil, Chile, Ecuador and Russia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.10.2012) 11.20
52-Week Low (17.04.2013) 4.97
Daily Volume
5.59
52-Week High % Change -50.07% Dividend Yield 2.86
52-Week Low % Change 12.47% Beta 0.76
% 52 Week Price Range High/Low 9.96% Equity Float 1'139.69
Shares Out 30.04.2013 1'141.7 Short Int 4.05
6'381.90 1 Yr Total Return -27.89%
Total Debt 2'632.60 YTD Return -41.91%
Preferred Stock 0.0 Adjusted BETA 0.761
Minority Interest 75.5 Analyst Recs 27
Cash and Equivalents 1'982.70 Consensus Rating 4.333
Enterprise Value 7'192.20
Average Volume 5 Day 13'605'389
KGC US EQUITY YTD Change - Average Volume 30 Day 14'506'958
KGC US EQUITY YTD % CHANGE - Average Volume 3 Month 11'418'168
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
1'617.0 2'412.1 3'010.1 3'842.5 4'311.4 3'842.5 4'311.4 4'061.4 4'293.4 934.7 963.6
7.84x 5.37x 6.92x 3.37x 2.74x 16.69x 10.44x 1.86x 1.74x 7.94x 7.91x
656.3 1'093.2 1'200.4 1'926.2 1'962.2 1'926.2 1'962.2 1'673.7 2'009.8 354.0 390.5
19.32x 11.85x 17.35x 6.73x 6.01x 6.73x 6.01x 4.30x 3.58x 4.24x 3.90x
(807.2) 309.9 759.7 (2'073.6) (2'504.9) (2'080.9) (2'504.9) 553.9 734.7 93.5 119.0
46.21x 41.68x 146.30x 15.25x 12.61x 15.46x 12.61x 12.07x 9.19x 11.48x 9.69x
EBITDA 1'962.20 Long-Term Rating Date 15.08.2011
EBIT 1'281.00 Long-Term Rating BBB-
Operating Margin 29.71% Long-Term Outlook STABLE
Pretax Margin -53.16% Short-Term Rating Date -
Return on Assets -15.73% Short-Term Rating -
Return on Common Equity -21.83%
Return on Capital - EBITDA/Interest Exp. 13.84
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 0.25
Net Debt/EBITDA 0.37
Gross Margin 57.1% Total Debt/EBITDA 1.09
EBITDA Margin 45.7%
EBIT Margin 28.1% Total Debt/Equity 26.7%
Net Income Margin -58.1% Total Debt/Capital 21.0%
Asset Turnover 0.28
Current Ratio 2.76 Net Fixed Asset Turnover 0.47
Quick Ratio 1.74 Accounts receivable turnover-days 24.27
Debt to Assets 17.69% Inventory Days 239.28
Tot Debt to Common Equity 26.73% Accounts Payable Turnover Day 108.04
Accounts Receivable Turnover 15.04 Cash Conversion Cycle 222.18
Inventory Turnover 1.53
Fiscal Year Ended
Kinross Gold CorpPrice/Volume
Valuation Analysis
14'215'780.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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1'000.0
1'500.0
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3'500.0
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4'500.0
5'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 59'376'977 5.2 2'536'128 29.04.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 25'903'233 2.27 3'849'773 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 24'321'082 2.13 14'542'877 31.12.2012 Bank
INVESCO LTD n/a ULT-AGG 23'312'301 2.04 1'717'094 29.04.2013 Investment Advisor
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 20'641'596 1.81 (9'067'104) 31.12.2012 Investment Advisor
LAZARD ASSET MANAGEM n/a ULT-AGG 20'421'586 1.79 (1'148'398) 31.03.2013 Unclassified
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 18'547'731 1.63 (100'100) 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 17'311'077 1.52 (452'461) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 17'079'796 1.5 (14'149'102) 31.03.2013 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 16'877'973 1.48 (15'894) 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 15'598'099 1.37 4'274'423 31.12.2012 Government
ALTRINSIC GLOBAL ADV ALTRINSIC GLOBAL ADV 13F 14'907'433 1.31 (259'550) 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 14'411'242 1.26 (3'227'985) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 14'146'557 1.24 (132'094) 31.12.2012 Investment Advisor
PASSPORT CAPITAL LLC PASSPORT CAPITAL LLC 13F 14'121'122 1.24 4'740'498 31.12.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 13'817'771 1.21 100'000 28.02.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 12'671'799 1.11 (1'130'000) 31.03.2013 Hedge Fund Manager
CARMIGNAC GESTION CARMIGNAC GESTION 13F 12'416'200 1.09 12'416'200 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 10'563'778 0.93 (2'044'058) 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 10'441'370 0.91 701'284 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Jefferies PETER D WARD hold 3 M 6 12 month 30.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 10 12 month 30.04.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 11 Not Provided 29.04.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 6 12 month 29.04.2013
Credit Suisse ANITA SONI outperform 5 M 10 Not Provided 29.04.2013
CIBC World Markets ALEC KODATSKY sector underperform 1 D 8 18 month 29.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 8 Not Provided 29.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 11 12 month 29.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 8 12 month 29.04.2013
Barclays FAROOQ HAMED equalweight 3 M 7 Not Provided 29.04.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 7 12 month 28.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 11 Not Provided 28.04.2013
Stifel GEORGE J TOPPING hold 3 M #N/A N/A Not Provided 26.04.2013
Macquarie TONY LESIAK outperform 5 M 7 12 month 25.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 8 12 month 23.04.2013
TD Securities GREG BARNES buy 5 M 9 12 month 23.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 10 12 month 22.04.2013
JPMorgan JOHN BRIDGES overweight 5 M 12 6 month 19.04.2013
GMP GEORGE V ALBINO buy 5 M 11 12 month 02.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 21.03.2013
Salman Partners DAVID WEST buy 5 M 12 12 month 15.02.2013
Veritas Investment Research Co PAWEL RAJSZEL buy 5 M 10 Not Provided 14.02.2013
Morgan Stanley PARETOSH MISRA Underwt/In-Line 1 D #N/A N/A Not Provided 10.10.2012
Paradigm Capital Inc DON MACLEAN buy 5 M #N/A N/A Not Provided 25.01.2012
Holdings By:
Kinross Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Royal Gold, Inc. acquires and manages precious metals royalties. The Company
seeks to acquire existing royalties or to finance projects that are in
production or near production in exchange for royalty interests. Royal Gold
Inc.'s gold-focused portfolio contains royalties ranging from those in
production and development to those in the evaluation and exploration stages.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (01.10.2012) 100.84
52-Week Low (18.04.2013) 50.20
Daily Volume
55.16
52-Week High % Change -45.30% Dividend Yield 1.27
52-Week Low % Change 9.88% Beta 0.67
% 52 Week Price Range High/Low 9.79% Equity Float 61.68
Shares Out 24.04.2013 64.4 Short Int 2.70
3'550.92 1 Yr Total Return -8.16%
Total Debt 293.25 YTD Return -31.83%
Preferred Stock 0.0 Adjusted BETA 0.674
Minority Interest 25.0 Analyst Recs 10
Cash and Equivalents 390.47 Consensus Rating 3.800
Enterprise Value 3'187.59
Average Volume 5 Day 742'482
RGLD US EQUITY YTD Change - Average Volume 30 Day 1'145'597
RGLD US EQUITY YTD % CHANGE - Average Volume 3 Month 977'487
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 12/yy 12/yy 06/13 Y 06/14 Y 06/13 Q4 09/13 Q1
66.3 73.8 136.6 216.5 263.1 248.1 287.5 303.2 379.1 70.7 71.0
13.56x 19.29x 18.40x 15.32x 17.19x 55.25x 66.05x 10.57x 7.96x 45.51x -
51.3 59.9 114.2 186.3 233.2 215.8 257.6 271.0 336.0 65.0 63.1
17.51x 23.77x 22.00x 17.80x 19.39x 17.98x 18.80x 11.76x 9.49x 10.57x 9.25x
24.0 38.3 21.5 71.4 92.5 87.2 98.6 95.9 133.3 21.0 22.3
56.00x 91.09x 61.79x 45.40x 48.25x 42.80x 50.12x 36.36x 26.22x 31.54x 26.24x
EBITDA 233.22 Long-Term Rating Date -
EBIT 158.22 Long-Term Rating -
Operating Margin 60.15% Long-Term Outlook -
Pretax Margin 58.17% Short-Term Rating Date -
Return on Assets 3.16% Short-Term Rating -
Return on Common Equity 3.82%
Return on Capital 4.04% EBITDA/Interest Exp. 30.27
Asset Turnover 0.12% (EBITDA-Capex)/Interest Exp. -5.64
Net Debt/EBITDA -1.49
Gross Margin 71.5% Total Debt/EBITDA 1.16
EBITDA Margin 88.9%
EBIT Margin 61.2% Total Debt/Equity 16.0%
Net Income Margin 35.2% Total Debt/Capital 13.6%
Asset Turnover 0.12
Current Ratio 29.27 Net Fixed Asset Turnover 0.15
Quick Ratio 28.23 Accounts receivable turnover-days 75.69
Debt to Assets 12.36% Inventory Days -
Tot Debt to Common Equity 15.95% Accounts Payable Turnover Day 10.43
Accounts Receivable Turnover 4.82 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Royal Gold IncPrice/Volume
Valuation Analysis
852'112.00
Current Price (5/dd/yy) Market Data
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100.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 7'427'251 11.54 - 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'440'661 8.45 1'174'946 29.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 3'592'556 5.58 159'701 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 3'387'502 5.26 188'296 29.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 2'287'976 3.55 (1'907'624) 31.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 2'234'914 3.47 197'748 31.03.2013 Investment Advisor
STUCKERT JAMES W n/a Form 4 1'622'095 2.52 (150'000) 24.04.2013 n/a
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'361'050 2.11 (47'750) 31.03.2013 Hedge Fund Manager
ALLIANZ ASSET MANAGE n/a ULT-AGG 1'234'254 1.92 (67'745) 31.03.2013 Investment Advisor
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 974'044 1.51 106'304 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 867'401 1.35 - 31.03.2013 Hedge Fund Manager
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 838'175 1.3 838'175 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 767'697 1.19 (30'935) 31.12.2012 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 633'761 0.98 25'047 31.03.2013 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 630'719 0.98 258'938 31.12.2012 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 615'300 0.96 (30'000) 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 529'097 0.82 (120'280) 31.12.2012 Unclassified
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 476'257 0.74 163'416 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 473'052 0.73 69'031 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 471'399 0.73 20'921 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC PATRICK CHIDLEY overweight 5 M 77 Not Provided 28.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 71 12 month 23.04.2013
BB&T Capital Markets GARRETT S. NELSON buy 5 M 80 12 month 22.04.2013
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 71 12 month 19.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 88 Not Provided 11.04.2013
National Bank Financial SHANE NAGLE outperform 5 U 88 12 month 09.04.2013
MLV & Co MICHAEL D PETERSON buy 5 M 92 12 month 08.04.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 15.01.2013
Holdings By:
Royal Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Harmony Gold Mining Company Limited is a mining company which produces gold from
its operations in the district of Virginia, Orange Free State. Harmony owns and
operates the Harmony, Randfontein, Evander, Consolidated Modderfontein, Grootvei
and Bissett gold mines. Harmony also has gold mining operations in Australia.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (06.06.2012) 10.73
52-Week Low (03.05.2013) 4.31
Daily Volume
4.67
52-Week High % Change -56.48% Dividend Yield -
52-Week Low % Change 8.35% Beta 0.86
% 52 Week Price Range High/Low 5.61% Equity Float -
Shares Out 31.03.2013 435.3 Short Int 2.42
2'032.65 1 Yr Total Return -50.15%
Total Debt 1'844.00 YTD Return -47.41%
Preferred Stock 0.0 Adjusted BETA 0.863
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 1'773.00 Consensus Rating 5.000
Enterprise Value -
Average Volume 5 Day 3'251'375
HMY US EQUITY YTD Change - Average Volume 30 Day 3'362'492
HMY US EQUITY YTD % CHANGE - Average Volume 3 Month 2'845'829
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 12/yy 12/yy 06/13 Y 06/14 Y 06/13 Q4 09/13 Q1
9'617.0 11'496.0 11'284.0 11'596.0 15'169.0 13'536.0 16'047.0 16'517.1 21'952.5 - -
4.37x 2.83x 3.13x 3.41x 2.18x 12.28x 8.20x 1.11x 0.90x - -
1'393.0 2'125.0 1'737.0 2'354.0 4'222.0 3'077.0 3'562.0 4'735.2 8'182.3 - -
30.15x 15.29x 20.33x 16.81x 7.84x 0.00x 9.00x - - - -
(245.0) 2'927.0 (192.0) 617.0 2'645.0 1'720.0 2'314.0 1'772.9 3'348.3 - -
- - - - - 0.00x 0.00x 10.83x 5.48x - -
EBITDA 4'222.00 Long-Term Rating Date -
EBIT 2'231.00 Long-Term Rating -
Operating Margin 14.71% Long-Term Outlook -
Pretax Margin 12.72% Short-Term Rating Date -
Return on Assets 2.66% Short-Term Rating -
Return on Common Equity 3.41%
Return on Capital 3.58% EBITDA/Interest Exp. 14.26
Asset Turnover 0.37% (EBITDA-Capex)/Interest Exp. 3.47
Net Debt/EBITDA -0.18
Gross Margin 25.7% Total Debt/EBITDA 0.80
EBITDA Margin 19.2%
EBIT Margin 7.8% Total Debt/Equity 5.4%
Net Income Margin 17.4% Total Debt/Capital 5.1%
Asset Turnover 0.37
Current Ratio 2.28 Net Fixed Asset Turnover 0.49
Quick Ratio 0.93 Accounts receivable turnover-days 30.59
Debt to Assets 4.27% Inventory Days 30.71
Tot Debt to Common Equity 5.41% Accounts Payable Turnover Day 47.72
Accounts Receivable Turnover 11.93 Cash Conversion Cycle 31.22
Inventory Turnover 11.89
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Harmony Gold Mining Co LtdPrice/Volume
Valuation Analysis
1'845'773.00
Current Price (5/dd/yy) Market Data
'
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1
3
5
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DEUTSCHE BANK TRUST n/a 20F 135'983'632 31.24 - 22.10.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 29'990'015 6.89 5'544'228 29.04.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 20'829'043 4.79 (1'394'122) 31.03.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 20'017'881 4.6 (3'910'953) 26.04.2013 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 9'196'293 2.11 559'805 31.12.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 6'004'994 1.38 (1'282'000) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 4'456'773 1.02 (196'323) 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 3'825'000 0.88 3'825'000 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 2'325'160 0.53 589'627 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 1'982'630 0.46 132'770 31.12.2012 Unclassified
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 1'826'300 0.42 (286'323) 31.12.2012 Hedge Fund Manager
TEXAS TEACHER RETIRE TEACHER RETIREMENT S 13F 1'500'000 0.34 1'500'000 31.12.2012 Pension Fund (ERISA)
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 1'346'948 0.31 (81'700) 31.12.2012 Investment Advisor
TWO SIGMA INVESTMENT TWO SIGMA INVESTMENT 13F 1'321'429 0.3 916'557 31.12.2012 Hedge Fund Manager
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 1'203'118 0.28 490'639 31.03.2013 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 1'050'000 0.24 - 31.12.2012 Investment Advisor
CAPITAL INTERNATIONA Multiple Portfolios MF-AGG 1'037'400 0.24 (106'100) 31.01.2013 Investment Advisor
HUSSMAN ECONOMETRICS HUSSMAN ECONOMETRICS 13F 1'000'000 0.23 500'000 31.12.2012 Investment Advisor
GAM HOLDING LTD GAM HOLDING LTD 13F 943'850 0.22 300'000 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 840'178 0.19 70'220 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
HSBC PATRICK CHIDLEY overweight 5 M 7 Not Provided 28.04.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 28.03.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 11 Not Provided 24.02.2010
Holdings By:
Harmony Gold Mining Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
IAMGOLD Corporation is a mid-tier gold mining company. The Company is focused
in West Africa, the Guiana Shield of South America and in Quebec where it has a
pipeline of development and exploration projects.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (05.10.2012) 16.88
52-Week Low (18.04.2013) 4.60
Daily Volume
5.83
52-Week High % Change -65.46% Dividend Yield -
52-Week Low % Change 26.74% Beta 0.97
% 52 Week Price Range High/Low 10.02% Equity Float 370.97
Shares Out 30.04.2013 376.6 Short Int 4.06
2'195.37 1 Yr Total Return -45.50%
Total Debt 641.40 YTD Return -49.17%
Preferred Stock 0.0 Adjusted BETA 0.974
Minority Interest 76.7 Analyst Recs 24
Cash and Equivalents 813.50 Consensus Rating 3.500
Enterprise Value 2'099.97
Average Volume 5 Day 5'948'243
IAG US EQUITY YTD Change - Average Volume 30 Day 7'111'840
IAG US EQUITY YTD % CHANGE - Average Volume 3 Month 6'868'405
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
869.6 914.3 1'097.1 1'673.2 1'670.0 1'673.2 1'670.0 1'493.1 1'688.8 388.8 406.0
2.09x 6.14x 5.88x - 2.52x 15.16x 10.85x 1.62x 1.63x 6.18x 6.17x
342.1 378.6 470.3 785.0 710.1 785.0 710.1 570.4 705.4 148.0 163.5
5.31x 14.82x 13.71x - 5.94x 6.36x 5.94x 3.68x 2.98x 3.55x 3.74x
(9.9) 114.1 262.6 806.6 334.7 806.6 334.7 189.3 250.3 37.1 49.7
- - - - - 0.00x 0.00x 11.50x 8.75x 10.16x 9.39x
EBITDA 710.10 Long-Term Rating Date 10.09.2012
EBIT 546.20 Long-Term Rating BB-
Operating Margin 32.71% Long-Term Outlook STABLE
Pretax Margin 34.17% Short-Term Rating Date -
Return on Assets 6.88% Short-Term Rating -
Return on Common Equity 9.29%
Return on Capital 9.60% EBITDA/Interest Exp. 14.20
Asset Turnover 0.34% (EBITDA-Capex)/Interest Exp. 0.19
Net Debt/EBITDA -0.24
Gross Margin 43.2% Total Debt/EBITDA 0.90
EBITDA Margin 42.5%
EBIT Margin 32.7% Total Debt/Equity 17.2%
Net Income Margin 20.0% Total Debt/Capital 14.4%
Asset Turnover 0.34
Current Ratio 3.76 Net Fixed Asset Turnover 0.73
Quick Ratio 2.61 Accounts receivable turnover-days 34.68
Debt to Assets 11.93% Inventory Days 142.45
Tot Debt to Common Equity 17.20% Accounts Payable Turnover Day 82.70
Accounts Receivable Turnover 10.55 Cash Conversion Cycle 94.44
Inventory Turnover 2.57
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
IAMGOLD CorpPrice/Volume
Valuation Analysis
6'923'206.00
Current Price (5/dd/yy) Market Data
'.135
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200.0
400.0
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1'200.0
1'400.0
1'600.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 43'954'065 11.67 - 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 35'765'320 9.5 (4'226'809) 29.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 14'154'923 3.76 2'840'159 31.12.2012 Bank
FMR LLC n/a ULT-AGG 9'811'133 2.61 (2'608'732) 31.03.2013 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 9'271'077 2.46 1'611'410 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 8'419'845 2.24 1'500'000 31.12.2012 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 6'464'401 1.72 (90'001) 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 6'125'592 1.63 (776'100) 31.03.2013 Hedge Fund Manager
HEXAVEST INC HEXAVEST INC 13F 5'890'847 1.56 (3'062'014) 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 5'498'913 1.46 68'530 31.12.2012 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 5'356'509 1.42 (87'839) 31.03.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 5'249'538 1.39 (169'616) 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 5'016'061 1.33 (268'526) 31.03.2013 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 4'905'401 1.3 2'828'200 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 4'617'450 1.23 158'233 31.12.2012 Investment Advisor
PAULSON & CO PAULSON & CO 13F 3'881'900 1.03 - 31.12.2012 Hedge Fund Manager
INTERNATIONAL VALUE INTERNATIONAL VALUE 13F 3'575'932 0.95 (963'988) 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 3'462'599 0.92 275'900 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 3'204'100 0.85 (1'256'100) 31.03.2013 Investment Advisor
CARIBBEAN INVESTMENT n/a SEDI 3'119'569 0.83 - 06.09.2011 Bank
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities NANA SANGMUAH hold 3 M 13 12 month 29.04.2013
HSBC PATRICK CHIDLEY overweight 5 M 8 Not Provided 28.04.2013
Societe Generale BRUCE ALWAY sell 1 M 5 12 month 26.04.2013
Stifel MICHAEL A SCOON hold 3 M #N/A N/A Not Provided 26.04.2013
Macquarie TONY LESIAK outperform 5 M 7 12 month 25.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 7 12 month 23.04.2013
TD Securities STEVEN J GREEN buy 5 M 11 12 month 23.04.2013
Barclays FAROOQ HAMED equalweight 3 M 6 Not Provided 23.04.2013
Credit Suisse ANITA SONI underperform 1 M 7 Not Provided 22.04.2013
Canaccord Genuity Corp STEVEN BUTLER hold 3 M 8 12 month 22.04.2013
Cormark Securities Inc. MIKE KOZAK market perform 3 M 7 12 month 22.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 6 12 month 19.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 9 Not Provided 15.04.2013
GMP GEORGE V ALBINO buy 5 M 15 12 month 15.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 14 12 month 15.04.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 N 9 Not Provided 12.04.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 9 Not Provided 11.04.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 25 12 month 25.03.2013
Salman Partners DAVID WEST buy 5 M 14 Not Provided 22.03.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 14 Not Provided 12.03.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 7 Not Provided 21.02.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 24.01.2013
Morgan Stanley PARETOSH MISRA Equalwt/In-Line 3 N #N/A N/A Not Provided 10.10.2012
Holdings By:
IAMGOLD Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Pan American Silver Corporation is a silver mining company with its principal
property in Peru. The Company also explores and develops mines in Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (01.11.2012) 22.83
52-Week Low (18.04.2013) 11.78
Daily Volume
12.78
52-Week High % Change -44.02% Dividend Yield -
52-Week Low % Change 8.49% Beta 1.02
% 52 Week Price Range High/Low 9.05% Equity Float 149.11
Shares Out 30.04.2013 151.5 Short Int 4.16
1'935.99 1 Yr Total Return -23.70%
Total Debt 77.98 YTD Return -31.25%
Preferred Stock 0.0 Adjusted BETA 1.018
Minority Interest 7.3 Analyst Recs 15
Cash and Equivalents 542.32 Consensus Rating 3.533
Enterprise Value 1'478.97
Average Volume 5 Day 1'770'366
PAAS US EQUITY YTD Change - Average Volume 30 Day 2'309'845
PAAS US EQUITY YTD % CHANGE - Average Volume 3 Month 1'902'064
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
338.6 454.8 646.6 855.3 928.6 855.3 928.6 1'035.5 1'109.7 255.8 254.0
4.05x 5.14x 6.33x 2.15x 2.57x 12.63x 11.01x 1.43x 1.25x 5.79x 5.73x
121.0 179.1 277.8 445.9 362.0 455.9 362.0 405.4 466.0 94.8 90.7
11.33x 13.05x 14.73x 4.12x 6.60x 4.03x 6.60x 3.65x 3.17x 3.82x 3.47x
24.6 62.0 13.7 352.5 87.4 352.5 87.4 189.2 226.6 40.7 39.8
- - - - - 0.00x 0.00x 13.07x 10.94x 11.02x 10.11x
EBITDA 361.98 Long-Term Rating Date -
EBIT 253.83 Long-Term Rating -
Operating Margin 27.33% Long-Term Outlook -
Pretax Margin 19.53% Short-Term Rating Date -
Return on Assets 3.27% Short-Term Rating -
Return on Common Equity 4.05%
Return on Capital 4.11% EBITDA/Interest Exp. 47.15
Asset Turnover 0.35% (EBITDA-Capex)/Interest Exp. 26.32
Net Debt/EBITDA -1.28
Gross Margin 45.2% Total Debt/EBITDA 0.22
EBITDA Margin 39.0%
EBIT Margin 27.3% Total Debt/Equity 2.9%
Net Income Margin 9.4% Total Debt/Capital 2.8%
Asset Turnover 0.35
Current Ratio 4.96 Net Fixed Asset Turnover 0.55
Quick Ratio 3.44 Accounts receivable turnover-days 46.91
Debt to Assets 2.30% Inventory Days 137.18
Tot Debt to Common Equity 2.87% Accounts Payable Turnover Day 36.38
Accounts Receivable Turnover 7.80 Cash Conversion Cycle 154.58
Inventory Turnover 2.67
Fiscal Year Ended
Pan American Silver CorpPrice/Volume
Valuation Analysis
2'087'137.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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0.0
100.0
200.0
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400.0
500.0
600.0
700.0
800.0
900.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 12'051'414 7.94 - 26.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 10'498'344 6.92 1'951'350 29.04.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 10'001'527 6.59 (1'140'970) 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 3'951'500 2.6 (126'002) 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 3'257'722 2.15 (10'899) 31.03.2013 Hedge Fund Manager
BEATY ROSS J n/a SEDI 2'118'680 1.4 300'000 31.05.2012 n/a
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'049'341 1.35 130'000 31.12.2012 Investment Advisor
RIVER ROAD ASSET MAN RIVER ROAD ASSET MAN 13F 1'995'846 1.31 561'998 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 1'817'974 1.2 784'238 31.12.2012 Investment Advisor
ASTON ASSET MANAGEME Multiple Portfolios MF-AGG 1'795'904 1.18 82'638 28.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'533'353 1.01 (17'297) 31.12.2012 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'446'774 0.95 16'500 31.12.2012 Investment Advisor
DREMAN VALUE MANAGEM DREMAN VALUE MANAGEM 13F 1'404'840 0.93 882'133 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'261'757 0.83 (23'600) 31.12.2012 Pension Fund (ERISA)
ALETHEIA RESEARCH & ALETHEIA RESEARCH & 13F 1'212'045 0.8 412'637 30.09.2012 Hedge Fund Manager
INTREPID CAPITAL MAN INTREPID CAPITAL MAN 13F 1'198'545 0.79 (13'530) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 1'154'508 0.76 (48'347) 31.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 1'117'492 0.74 393'712 31.03.2013 Investment Advisor
AXA n/a ULT-AGG 1'095'911 0.72 - 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 1'087'824 0.72 (925'154) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James BRAD HUMPHREY outperform 5 M 21 12 month 24.04.2013
Scotia Capital TREVOR TURNBULL sector outperform 5 M 19 12 month 23.04.2013
TD Securities DANIEL EARLE hold 3 M 16 12 month 23.04.2013
Credit Suisse RALPH M PROFITI outperform 5 M 22 Not Provided 22.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 14 12 month 19.04.2013
JPMorgan JOHN BRIDGES underweight 1 M 18 6 month 19.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 20 Not Provided 15.04.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 M 21 12 month 15.04.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 16 12 month 11.04.2013
CIBC World Markets ARNOLD VAN GRAAN sector perform 3 M 19 Not Provided 11.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 20 Not Provided 09.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 21.03.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 25.02.2013
Salman Partners DAVID WEST buy 5 M 22 12 month 22.02.2013
Holdings By:
Pan American Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
First Majestic Silver Corp. is a silver producing mining company. The
Company's presently owns and operates producing silver mines in Mexico, the La
Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine,
and the La Guitarra Silver Mine.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (09.11.2012) 24.20
52-Week Low (23.04.2013) 10.77
Daily Volume
11.69
52-Week High % Change -51.69% Dividend Yield -
52-Week Low % Change 8.54% Beta 1.20
% 52 Week Price Range High/Low 6.85% Equity Float 111.92
Shares Out 30.04.2013 117.0 Short Int 1.06
1'367.58 1 Yr Total Return -20.80%
Total Debt 29.64 YTD Return -42.10%
Preferred Stock 0.0 Adjusted BETA 1.200
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 111.59 Consensus Rating 4.143
Enterprise Value 1'285.63
Average Volume 5 Day 862'890
AG US EQUITY YTD Change - Average Volume 30 Day 1'239'269
AG US EQUITY YTD % CHANGE - Average Volume 3 Month 1'097'093
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
41.8 52.4 117.9 245.5 247.2 245.5 247.2 373.0 542.5 - -
3.30x 6.36x 11.66x 6.93x 9.19x 29.14x 32.67x - - - -
2.3 11.7 53.4 156.2 135.1 156.2 135.1 211.3 302.3 - -
59.08x 28.43x 25.73x 10.89x 16.82x 10.89x 16.82x 6.08x 4.25x - -
(4.9) 5.6 35.1 103.6 88.9 103.6 88.9 146.4 217.5 - -
- - - - - 0.00x 0.00x 13.95x 9.03x 12.01x 9.92x
EBITDA 135.11 Long-Term Rating Date -
EBIT 109.13 Long-Term Rating -
Operating Margin 44.15% Long-Term Outlook -
Pretax Margin 44.90% Short-Term Rating Date -
Return on Assets 14.15% Short-Term Rating -
Return on Common Equity 18.83%
Return on Capital 18.36% EBITDA/Interest Exp. 58.92
Asset Turnover 0.39% (EBITDA-Capex)/Interest Exp. -17.45
Net Debt/EBITDA -0.61
Gross Margin 57.5% Total Debt/EBITDA 0.22
EBITDA Margin 54.7%
EBIT Margin 44.2% Total Debt/Equity 5.0%
Net Income Margin 36.0% Total Debt/Capital 4.8%
Asset Turnover 0.39
Current Ratio 3.02 Net Fixed Asset Turnover 0.56
Quick Ratio 2.29 Accounts receivable turnover-days 26.05
Debt to Assets 3.65% Inventory Days 66.66
Tot Debt to Common Equity 4.99% Accounts Payable Turnover Day 69.36
Accounts Receivable Turnover 14.05 Cash Conversion Cycle 23.35
Inventory Turnover 5.49
Fiscal Year Ended
First Majestic Silver CorpPrice/Volume
Valuation Analysis
983'505.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 7'999'040 6.84 1'502'609 29.04.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 4'404'872 3.77 (376'800) 31.03.2013 Hedge Fund Manager
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 4'030'468 3.45 (380'759) 31.12.2012 Investment Advisor
NEUMEYER KEITH n/a SEDI 3'126'000 2.67 150'000 19.11.2012 n/a
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 2'643'635 2.26 850'190 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 2'550'000 2.18 - 28.02.2013 Investment Advisor
BARING INTERNATIONAL BARING INTERNATIONAL 13F 2'276'819 1.95 2'276'819 31.12.2012 Investment Advisor
BARING ASSET MANAGEM BARING ASSET MANAGEM 13F 2'274'076 1.94 481'911 30.09.2012 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 1'398'251 1.2 644'865 28.02.2013 Bank
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 1'332'088 1.14 1'295'488 31.12.2012 Investment Advisor
ALBERTA INVESTMENT M n/a Research 1'223'700 1.05 - 31.12.2012 Government
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'183'943 1.01 (118'994) 31.12.2012 Pension Fund (ERISA)
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'096'680 0.94 12'400 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'086'500 0.93 (23'800) 31.12.2012 Investment Advisor
POLAR SECURITIES INC POLAR SECURITIES INC 13F 1'034'662 0.88 - 31.12.2012 Hedge Fund Manager
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 991'400 0.85 (207'700) 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 891'317 0.76 321'483 31.12.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 836'400 0.72 - 31.12.2012 Investment Advisor
ALTAMIRA MANAGEMENT Multiple Portfolios MF-AGG 696'394 0.6 241'639 28.02.2013 Unclassified
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 675'000 0.58 (125'000) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP market perform 3 M 18 Not Provided 26.04.2013
Raymond James CHRIS THOMPSON outperform 5 M 20 12 month 24.04.2013
TD Securities DANIEL EARLE buy 5 M 18 12 month 23.04.2013
Cormark Securities Inc. GRAEME JENNINGS buy 5 M 21 12 month 22.04.2013
Casimir Capital STUART MCDOUGALL strong buy 5 M 22 12 month 15.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 17 12 month 09.04.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
Holdings By:
First Majestic Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Coeur d'Alene Mines Corporation, through its subsidiaries, explores, develops,
operates, and/or owns silver and gold mining properties and companies. The
Company's properties are located primarily in the United States, Australia, and
South America.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (01.11.2012) 31.97
52-Week Low (18.04.2013) 13.31
Daily Volume
14.45
52-Week High % Change -54.80% Dividend Yield -
52-Week Low % Change 8.56% Beta 1.30
% 52 Week Price Range High/Low 6.11% Equity Float 100.89
Shares Out 08.05.2013 101.5 Short Int 3.54
1'466.34 1 Yr Total Return -22.23%
Total Debt 124.55 YTD Return -41.26%
Preferred Stock 0.0 Adjusted BETA 1.298
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 153.50 Consensus Rating 4.286
Enterprise Value 1'437.38
Average Volume 5 Day 1'643'281
CDE US EQUITY YTD Change - Average Volume 30 Day 1'913'136
CDE US EQUITY YTD % CHANGE - Average Volume 3 Month 1'743'807
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
170.9 300.4 515.5 1'021.2 895.5 1'021.2 895.5 939.3 1'063.2 232.0 242.3
5.09x 5.42x 4.98x 2.05x 2.45x 9.28x 9.22x 1.46x 1.13x 6.27x 5.87x
0.3 78.2 218.7 531.3 378.2 531.3 378.2 385.3 516.3 89.1 99.5
2750.95x 20.82x 11.74x 3.95x 5.80x 3.95x 5.80x 3.73x 2.78x 3.06x 2.69x
(0.6) (27.1) (91.3) 93.5 48.7 93.5 48.7 96.8 170.2 15.7 15.5
- - - 22.35x 41.69x 22.35x 42.41x 21.09x 11.29x 12.08x 10.37x
EBITDA 378.23 Long-Term Rating Date 25.06.2012
EBIT 159.37 Long-Term Rating B+
Operating Margin 17.80% Long-Term Outlook STABLE
Pretax Margin 13.10% Short-Term Rating Date -
Return on Assets 1.50% Short-Term Rating -
Return on Common Equity 2.25%
Return on Capital - EBITDA/Interest Exp. 13.10
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 8.08
Net Debt/EBITDA -0.08
Gross Margin 24.6% Total Debt/EBITDA 0.33
EBITDA Margin 42.2%
EBIT Margin 17.8% Total Debt/Equity 5.7%
Net Income Margin 5.4% Total Debt/Capital 5.4%
Asset Turnover 0.28
Current Ratio 1.70 Net Fixed Asset Turnover 0.33
Quick Ratio 0.79 Accounts receivable turnover-days 29.82
Debt to Assets 3.87% Inventory Days 82.19
Tot Debt to Common Equity 5.67% Accounts Payable Turnover Day 34.90
Accounts Receivable Turnover 12.27 Cash Conversion Cycle 77.12
Inventory Turnover 4.45
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Coeur d'Alene Mines CorpPrice/Volume
Valuation Analysis
2'508'377.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 7'408'808 7.22 - 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 6'165'441 6.01 1'114'305 29.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 4'876'942 4.75 (420'427) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 4'438'757 4.33 256'439 31.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 4'427'354 4.32 (54'878) 29.04.2013 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 2'810'872 2.74 (256'964) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'403'100 2.34 350'000 31.12.2012 Investment Advisor
GUGGENHEIM n/a ULT-AGG 2'259'708 2.2 986'778 31.03.2013 Unclassified
ATLANTIC INVESTMENT ATLANTIC INVESTMENT 13F 2'031'590 1.98 (285'500) 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'857'341 1.81 60'904 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 1'795'841 1.75 (457'409) 31.12.2012 Investment Advisor
DONALD SMITH & CO IN DONALD SMITH & CO IN 13F 1'602'028 1.56 1'602'028 31.12.2012 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 1'278'258 1.25 272'396 31.12.2012 Hedge Fund Manager
DREMAN VALUE MANAGEM DREMAN VALUE MANAGEM 13F 1'265'889 1.23 (232'106) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 1'105'840 1.08 (51'910) 31.03.2013 Investment Advisor
NEW JERSEY DIVISION STATE OF NJ COMMON P 13F 1'000'000 0.97 1'000'000 31.12.2012 Pension Fund (ERISA)
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 996'110 0.97 756'816 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 942'523 0.92 (89'282) 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 838'500 0.82 (341'000) 31.03.2013 Hedge Fund Manager
INVESCO LTD n/a ULT-AGG 733'057 0.71 (410'219) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 30.04.2013
Deutsche Bank JORGE M BERISTAIN buy 5 M 21 12 month 29.04.2013
Global Hunter Securities JEFF WRIGHT accumulate 4 M 23 12 month 29.04.2013
Cormark Securities Inc. GRAEME JENNINGS market perform 3 M 20 12 month 22.04.2013
JPMorgan JOHN BRIDGES restricted #N/A N/A M #N/A N/A Not Provided 19.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 17 Not Provided 17.04.2013
Sidoti & Company LLC ADAM BROOKS buy 5 M 24 12 month 17.04.2013
Sterne, Agee & Leach MICHAEL S DUDAS buy 5 M 36 12 month 12.04.2013
Holdings By:
Coeur d'Alene Mines Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
AuRico Gold Inc. is a Canadian gold producer with mines and projects in North
America that have solid production growth and exploration potential. The Company
is focused on its core operations including the Young-Davidson gold mine in
northern Ontario and the El Chanate mine in Sonora State, Mexico. AuRico's
project pipeline also includes development opportunities in Canada and Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (13.06.2012) 8.79
52-Week Low (18.04.2013) 4.52
Daily Volume
4.85
52-Week High % Change -44.82% Dividend Yield -
52-Week Low % Change 7.30% Beta 0.87
% 52 Week Price Range High/Low 7.73% Equity Float 245.93
Shares Out 30.04.2013 246.8 Short Int 13.48
1'196.86 1 Yr Total Return -39.87%
Total Debt 188.57 YTD Return -40.31%
Preferred Stock 0.0 Adjusted BETA 0.866
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 603.40 Consensus Rating 3.214
Enterprise Value 782.03
Average Volume 5 Day 1'945'004
AUQ US EQUITY YTD Change - Average Volume 30 Day 3'237'863
AUQ US EQUITY YTD % CHANGE - Average Volume 3 Month 3'282'861
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
212.5 206.8 238.3 83.9 163.6 212.3 233.4 301.4 415.2 58.4 72.8
3.30x 6.86x 4.42x 27.78x 11.67x 33.27x 39.23x 3.78x 2.75x 12.48x 14.38x
53.3 70.5 106.6 2.3 52.3 106.8 79.9 144.3 217.3 21.0 39.1
13.17x 20.14x 9.87x 1003.29x 36.48x 0.00x 23.88x 5.42x 3.60x 4.79x 4.13x
38.7 8.2 (134.7) 176.9 33.2 176.9 33.2 64.8 94.6 6.6 16.2
- - - - - 0.00x 0.00x 17.90x 11.92x 14.14x 12.00x
EBITDA 52.33 Long-Term Rating Date -
EBIT 33.61 Long-Term Rating -
Operating Margin 20.54% Long-Term Outlook -
Pretax Margin -60.53% Short-Term Rating Date -
Return on Assets 1.09% Short-Term Rating -
Return on Common Equity 1.46%
Return on Capital - EBITDA/Interest Exp. 23.39
Asset Turnover - (EBITDA-Capex)/Interest Exp. -142.03
Net Debt/EBITDA -5.19
Gross Margin 43.2% Total Debt/EBITDA 2.36
EBITDA Margin -
EBIT Margin - Total Debt/Equity 8.2%
Net Income Margin 20.3% Total Debt/Capital 7.6%
Asset Turnover -
Current Ratio 7.76 Net Fixed Asset Turnover -
Quick Ratio 6.33 Accounts receivable turnover-days -
Debt to Assets 6.51% Inventory Days -
Tot Debt to Common Equity 8.21% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
AuRico Gold IncPrice/Volume
Valuation Analysis
2'069'788.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WELLINGTON MANAGEMEN n/a 13G 29'437'231 11.94 9'509'551 31.01.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 24'673'016 10 - 29.04.2013 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 12'572'597 5.1 1'193'174 31.03.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 11'799'825 4.78 (2'491'500) 31.12.2012 Investment Advisor
HEARTLAND ADVISORS I HEARTLAND ADVISORS I 13F 11'733'592 4.76 (677'807) 31.12.2012 Investment Advisor
DONALD SMITH & CO IN DONALD SMITH & CO IN 13F 8'335'053 3.38 164'601 31.12.2012 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 8'314'200 3.37 (87'073) 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 7'469'100 3.03 680'000 31.12.2012 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 4'793'558 1.94 38'100 31.12.2012 Investment Advisor
OPUS CAPITAL GROUP L OPUS CAPITAL GROUP L 13F 4'478'647 1.82 1'610'951 31.03.2013 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 3'916'476 1.59 (2'801'559) 31.12.2012 Investment Advisor
HEXAVEST INC HEXAVEST INC 13F 3'895'355 1.58 (1'586'686) 31.03.2013 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 3'862'659 1.57 371'532 31.03.2013 Investment Advisor
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 3'699'470 1.5 1'016'940 31.12.2012 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 3'677'730 1.49 (11'562'015) 31.03.2013 Investment Advisor
ASTON ASSET MANAGEME Multiple Portfolios MF-AGG 3'654'124 1.48 488'507 28.03.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 3'493'185 1.42 (50'000) 31.12.2012 Hedge Fund Manager
DREMAN VALUE MANAGEM DREMAN VALUE MANAGEM 13F 3'453'046 1.4 (54'087) 31.12.2012 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 3'444'100 1.4 (500'000) 31.12.2012 Hedge Fund Manager
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 3'343'677 1.36 (389'322) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie TONY LESIAK outperform 5 M 6 12 month 25.04.2013
TD Securities STEVEN J GREEN reduce 2 M 5 12 month 23.04.2013
Credit Suisse ANITA SONI neutral 3 M 8 Not Provided 22.04.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 M 9 12 month 22.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 6 12 month 19.04.2013
Raymond James GARY J BASCHUK Under Review #N/A N/A M #N/A N/A Not Provided 18.04.2013
Dundee Securities Corp JOE FAZZINI neutral 3 M 7 Not Provided 16.04.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 8 Not Provided 15.04.2013
Desjardins Securities ADAM MELNYK hold 3 M 8 Not Provided 15.04.2013
GMP CHELSEA HAMILTON buy 5 M 12 12 month 15.04.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 M 6 12 month 15.04.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 15.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 8 Not Provided 11.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 7 12 month 04.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 26.03.2013
Holdings By:
AuRico Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Allied Nevada Gold Corporation evaluates, acquires, explores, and advances
gold exploration and potential development projects. The Company's holdings
include projects in Nevada, California, Idaho and Colorado in the United
States, as well as Bolivia, Mexico, Indonesia and Australia.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (17.10.2012) 41.02
52-Week Low (07.05.2013) 9.16
Daily Volume
9.51
52-Week High % Change -76.82% Dividend Yield 0.00
52-Week Low % Change 3.82% Beta 1.00
% 52 Week Price Range High/Low 1.10% Equity Float 82.61
Shares Out 25.04.2013 89.9 Short Int 6.58
854.85 1 Yr Total Return -63.92%
Total Debt 525.19 YTD Return -68.44%
Preferred Stock 0.0 Adjusted BETA 1.005
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 347.05 Consensus Rating 3.300
Enterprise Value 1'032.99
Average Volume 5 Day 2'008'955
ANV US EQUITY YTD Change - Average Volume 30 Day 3'138'578
ANV US EQUITY YTD % CHANGE - Average Volume 3 Month 2'135'537
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 43.2 130.9 152.0 214.6 159.3 224.5 368.2 559.7 72.6 89.1
- 23.79x 15.41x 16.34x 13.43x 69.10x 39.30x 3.22x 2.53x 9.46x 6.62x
(38.7) (0.8) 30.5 48.8 95.5 64.8 77.6 160.3 337.8 24.9 31.9
- - 66.12x 50.94x 30.19x 42.00x 0.00x 6.44x 3.06x 8.02x 7.05x
(79.6) 8.5 34.1 36.7 47.7 48.6 44.5 82.1 131.5 10.1 14.4
- 107.71x 64.17x 77.64x 57.94x 62.56x 33.59x 11.29x 5.25x 9.07x 7.16x
EBITDA 95.46 Long-Term Rating Date 07.06.2012
EBIT 80.87 Long-Term Rating B
Operating Margin 37.69% Long-Term Outlook STABLE
Pretax Margin 29.90% Short-Term Rating Date -
Return on Assets 5.04% Short-Term Rating -
Return on Common Equity 8.05%
Return on Capital 6.96% EBITDA/Interest Exp. 3.69
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -6.45
Net Debt/EBITDA 1.87
Gross Margin 49.0% Total Debt/EBITDA 5.50
EBITDA Margin 44.5%
EBIT Margin 37.7% Total Debt/Equity 84.7%
Net Income Margin 22.2% Total Debt/Capital 45.9%
Asset Turnover 0.23
Current Ratio 5.58 Net Fixed Asset Turnover 0.62
Quick Ratio 4.00 Accounts receivable turnover-days 51.58
Debt to Assets 42.43% Inventory Days 140.60
Tot Debt to Common Equity 84.71% Accounts Payable Turnover Day 115.64
Accounts Receivable Turnover 7.10 Cash Conversion Cycle 76.54
Inventory Turnover 2.60
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Allied Nevada Gold CorpPrice/Volume
Valuation Analysis
1'746'558.00
Current Price (5/dd/yy) Market Data
'2
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100.0
150.0
200.0
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 7'138'101 7.94 1'164'848 29.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 4'618'576 5.14 (88'198) 31.03.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 4'534'307 5.04 (1'437'400) 31.03.2013 Investment Advisor
PESCIO CARL A n/a Form 4 4'403'800 4.9 (296'200) 21.09.2012 n/a
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 4'254'700 4.73 5'600 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'976'128 4.42 1'180'057 31.12.2012 Investment Advisor
GCIC LTD/CANADA n/a 13G 3'931'475 4.37 (1'847'320) 18.04.2013 Investment Advisor
STATE STREET n/a ULT-AGG 3'793'522 4.22 68'701 29.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'225'015 3.59 192'715 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 3'054'914 3.4 (174'019) 26.04.2013 Investment Advisor
BAUPOST GROUP LLC THE BAUPOST GROUP LL 13F 2'853'550 3.17 (2'200'000) 31.12.2012 Hedge Fund Manager
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 2'408'733 2.68 18'784 31.12.2012 Investment Advisor
BUCHAN ROBERT M n/a PROXY 2'211'500 2.46 (23'300) 08.03.2013 n/a
PERRY CORP PERRY CORPORATION 13F 2'142'250 2.38 259'000 31.12.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'857'800 2.07 300'000 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'768'623 1.97 (400'400) 31.03.2013 Hedge Fund Manager
SCOTIA ASSET MANAGEM Multiple Portfolios MF-AGG 1'620'900 1.8 - 28.02.2013 Investment Advisor
PAULSON & CO PAULSON & CO 13F 1'509'221 1.68 - 31.12.2012 Hedge Fund Manager
COLUMBIA WANGER ASSE COLUMBIA WANGER ASSE 13F 1'444'000 1.61 1'444'000 31.12.2012 Investment Advisor
GUGGENHEIM n/a ULT-AGG 1'199'739 1.33 571'495 31.03.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets SAM CRITTENDEN sector perform 3 D 15 12 month 29.04.2013
Macquarie MICHAEL GRAY underperform 1 M 9 12 month 25.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 U 15 12 month 23.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 26 12 month 22.04.2013
Cormark Securities Inc. MIKE KOZAK speculative buy 4 M 24 12 month 22.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 18.04.2013
CIBC World Markets CHITIMUKULU MUSONDA sector perform 3 M 19 Not Provided 11.04.2013
BMO Capital Markets BRIAN QUAST underperform 1 M 18 Not Provided 09.04.2013
GMP ANDREW MIKITCHOOK buy 5 M 43 12 month 09.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 46 12 month 09.04.2013
Holdings By:
Allied Nevada Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Hecla Mining Company explores, develops, and mines precious metals, gold and
silver. The Company has operations in the United States and Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 6.92
52-Week Low (18.04.2013) 2.95
Daily Volume
3.3
52-Week High % Change -52.34% Dividend Yield 1.89
52-Week Low % Change 11.86% Beta 1.36
% 52 Week Price Range High/Low 8.81% Equity Float 283.18
Shares Out 21.02.2013 285.2 Short Int 26.09
941.14 1 Yr Total Return -19.69%
Total Debt 17.50 YTD Return -43.23%
Preferred Stock 0.0 Adjusted BETA 1.364
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 190.98 Consensus Rating 3.500
Enterprise Value 767.69
Average Volume 5 Day 6'036'583
HL US EQUITY YTD Change - Average Volume 30 Day 6'527'303
HL US EQUITY YTD % CHANGE - Average Volume 3 Month 6'165'685
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
204.7 312.5 418.8 477.6 321.1 477.6 321.1 488.1 622.0 91.7 103.9
3.08x 4.39x 6.28x 2.59x 4.64x 13.24x 16.60x 2.51x 1.83x 8.57x 7.91x
15.3 132.3 211.3 254.7 92.9 253.4 92.9 214.0 324.7 40.4 49.7
41.21x 10.38x 12.44x 4.85x 16.03x 4.88x 16.03x 3.59x 2.36x 2.83x 2.38x
(66.6) 67.8 49.0 151.2 15.0 151.2 15.0 70.4 125.2 8.6 6.5
- 34.33x 62.56x 12.16x 83.29x 12.16x 83.29x 15.14x 8.73x 14.60x 11.04x
EBITDA 92.91 Long-Term Rating Date 04.04.2013
EBIT 42.79 Long-Term Rating B
Operating Margin 13.33% Long-Term Outlook STABLE
Pretax Margin 7.42% Short-Term Rating Date -
Return on Assets 1.08% Short-Term Rating -
Return on Common Equity 1.26%
Return on Capital 1.44% EBITDA/Interest Exp. 38.28
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -8.32
Net Debt/EBITDA -1.87
Gross Margin 44.7% Total Debt/EBITDA 0.19
EBITDA Margin 28.9%
EBIT Margin 13.3% Total Debt/Equity 1.5%
Net Income Margin 4.7% Total Debt/Capital 1.5%
Asset Turnover 0.23
Current Ratio 2.98 Net Fixed Asset Turnover 0.33
Quick Ratio 2.20 Accounts receivable turnover-days 21.58
Debt to Assets 1.27% Inventory Days 56.49
Tot Debt to Common Equity 1.54% Accounts Payable Turnover Day 82.31
Accounts Receivable Turnover 16.96 Cash Conversion Cycle -4.24
Inventory Turnover 6.48
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Hecla Mining CoPrice/Volume
Valuation Analysis
5'405'233.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 19'672'831 6.9 3'630'060 29.04.2013 Investment Advisor
STATE STREET n/a ULT-AGG 16'490'464 5.78 (1'261'865) 29.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 15'874'824 5.57 - 31.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 15'111'549 5.3 (139'843) 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 5'094'157 1.79 233'659 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 4'531'959 1.59 275'066 31.12.2012 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 4'041'712 1.42 (340'534) 31.12.2012 Investment Advisor
KESTREL INVESTMENT M KESTREL INVESTMENT M 13F 3'997'250 1.4 (98'000) 31.12.2012 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 3'744'569 1.31 1'615'970 31.12.2012 Investment Advisor
CREDIT SUISSE AG CREDIT SUISSE AG 13F 2'966'054 1.04 (525'202) 31.12.2012 Investment Advisor
CS MCKEE LP C S MCKEE LP 13F 2'882'600 1.01 (359'600) 31.12.2012 Investment Advisor
LRI-FUND MANAGEMENT Multiple Portfolios MF-AGG 2'800'000 0.98 413'542 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 2'771'542 0.97 (671'814) 31.12.2012 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 2'623'100 0.92 (2'027'715) 31.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 2'493'254 0.87 8'934 31.03.2013 Investment Advisor
DENVER INVESTMENT AD DENVER INVESTMENT AD 13F 2'443'226 0.86 (193'270) 31.12.2012 Investment Advisor
AXA n/a ULT-AGG 2'418'493 0.85 - 31.03.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 2'250'000 0.79 (150'000) 28.02.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 2'035'400 0.71 (330'000) 29.03.2013 Investment Advisor
NEW JERSEY DIVISION STATE OF NJ COMMON P 13F 1'900'000 0.67 (2'100'000) 31.12.2012 Pension Fund (ERISA)
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT buy 5 M 6 12 month 29.04.2013
JPMorgan JOHN BRIDGES neutral 3 M 6 6 month 19.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 17.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 5 Not Provided 15.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 6 12 month 15.04.2013
Deutsche Bank JORGE M BERISTAIN hold 3 U 4 12 month 11.04.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 06.03.2013
Scotia Capital TREVOR TURNBULL restricted #N/A N/A M #N/A N/A Not Provided 05.03.2013
Holdings By:
Hecla Mining Co ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Nevsun Resources Ltd. is a gold producer and base metal developer. The Company
has a gold-copper-zinc mine in Eritrea.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (07.11.2012) 4.98
52-Week Low (16.05.2012) 2.68
Daily Volume
3.68
52-Week High % Change -26.10% Dividend Yield -
52-Week Low % Change 37.31% Beta 1.03
% 52 Week Price Range High/Low 43.48% Equity Float -
Shares Out #N/A N/A - Short Int 1.08
- 1 Yr Total Return 11.51%
Total Debt 0.00 YTD Return -14.02%
Preferred Stock 0.0 Adjusted BETA 1.034
Minority Interest 143.5 Analyst Recs 12
Cash and Equivalents 396.40 Consensus Rating 3.833
Enterprise Value -
Average Volume 5 Day 590'348
NSU US EQUITY YTD Change - Average Volume 30 Day 762'654
NSU US EQUITY YTD % CHANGE - Average Volume 3 Month 1'101'323
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 547.8 566.0 551.5 566.0 376.9 691.6 61.4 90.2
- - - 1.60x 1.05x 6.89x 4.04x - - - -
(6.1) (4.9) (12.2) 429.2 426.5 429.3 426.5 230.3 465.0 21.4 53.5
- - - 2.04x 1.40x 2.04x 1.40x - - - -
(5.7) (4.3) (13.3) 147.1 145.3 147.1 145.3 64.0 172.5 4.3 18.0
- - - - - 0.00x 0.00x 9.11x 3.83x 7.06x 5.15x
EBITDA 426.46 Long-Term Rating Date -
EBIT 397.41 Long-Term Rating -
Operating Margin 70.21% Long-Term Outlook -
Pretax Margin 70.80% Short-Term Rating Date -
Return on Assets 17.62% Short-Term Rating -
Return on Common Equity 26.00%
Return on Capital 36.05% EBITDA/Interest Exp. 683.43
Asset Turnover 0.69% (EBITDA-Capex)/Interest Exp. 544.86
Net Debt/EBITDA -0.93
Gross Margin 89.9% Total Debt/EBITDA 0.00
EBITDA Margin 75.3%
EBIT Margin 70.2% Total Debt/Equity 0.0%
Net Income Margin 25.7% Total Debt/Capital 0.0%
Asset Turnover 0.69
Current Ratio 6.56 Net Fixed Asset Turnover 1.83
Quick Ratio 5.92 Accounts receivable turnover-days 15.63
Debt to Assets 0.00% Inventory Days 250.60
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 30.26
Accounts Receivable Turnover 23.41 Cash Conversion Cycle 235.97
Inventory Turnover 1.46
Fiscal Year Ended
Nevsun Resources LtdPrice/Volume
Valuation Analysis
644'018.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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100.0
200.0
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400.0
500.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VANGUARD GROUP INC Multiple Portfolios MF-AGG 39'554'511 0 9'800 31.03.2013 Investment Advisor
M&G INVESTMENT MANAG M&G INVESTMENT MANAG 13F 38'500'000 0 - 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 29'730'099 0 - 26.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 24'147'000 0 (1'770'900) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 13'698'233 0 2'496'855 29.04.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 5'077'040 0 613'900 31.03.2013 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 4'239'444 0 124'000 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'062'504 0 3'062'504 31.12.2012 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 3'003'300 0 1'180'900 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'883'601 0 4'200 31.12.2012 Pension Fund (ERISA)
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'878'320 0 - 31.12.2012 Investment Advisor
DAVIS CLIFFORD T n/a SEDI 1'553'219 0 (50'100) 19.11.2012 n/a
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'395'977 0 (80'700) 31.12.2012 Investment Advisor
CLARKE JOHN A n/a SEDI 1'367'000 0 - 31.12.2012 n/a
NORGES BANK NORGES BANK 13F 1'233'881 0 (146'716) 31.12.2012 Government
MCKINLEY CAPITAL MAN MCKINLEY CAPITAL MAN 13F 1'094'380 0 1'094'380 31.03.2013 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 1'091'342 0 11'479 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 1'043'300 0 213'600 31.12.2012 Hedge Fund Manager
MORGAN STANLEY n/a ULT-AGG 1'028'199 0 763'003 31.03.2013 Investment Advisor
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 1'006'600 0 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities STEVEN J GREEN hold 3 M 4 12 month 23.04.2013
Haywood Securities Inc. STEFAN IOANNOU buy 5 M 5 Not Provided 16.04.2013
Canaccord Genuity Corp RAHUL PAUL hold 3 M 4 12 month 15.04.2013
Cormark Securities Inc. CLIFF HALE-SANDERS buy 5 M 5 12 month 10.04.2013
Paradigm Capital Inc DAVID DAVIDSON buy 5 M 8 12 month 01.04.2013
CIBC World Markets COSMOS CHIU sector underperform 1 M 4 Not Provided 25.03.2013
GMP ANDREW MIKITCHOOK hold 3 M 4 12 month 22.03.2013
RBC Capital Markets PATRICK MORTON sector perform 3 M 5 12 month 21.03.2013
PI Financial Corp. ALEEM LADAK buy 5 M 6 12 month 21.03.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
Holdings By:
Nevsun Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Aurizon Mines Ltd. is a gold mining company. The Company's operations and
exploration activities are located in the Abitibi region of north-western
Quebec, Canada. Aurizon operates and owns an interest in the Beaufor Mine,
the Sleeping Giant Mine, and the Casa Berardi property.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.05.2012) 5.42
52-Week Low (24.12.2012) 3.19
Daily Volume
3.74
52-Week High % Change -31.00% Dividend Yield -
52-Week Low % Change 17.24% Beta 0.95
% 52 Week Price Range High/Low 24.66% Equity Float 136.32
Shares Out 30.04.2013 164.7 Short Int 2.40
615.85 1 Yr Total Return -25.65%
Total Debt 0.00 YTD Return 7.47%
Preferred Stock 0.0 Adjusted BETA 0.955
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 204.71 Consensus Rating 3.000
Enterprise Value 415.33
Average Volume 5 Day 1'370'435
AZK US EQUITY YTD Change - Average Volume 30 Day 915'023
AZK US EQUITY YTD % CHANGE - Average Volume 3 Month 939'224
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
144.5 175.6 178.7 260.0 223.6 260.0 223.6 209.3 266.3 40.2 46.6
4.07x 3.65x 5.82x 2.31x 1.61x 11.47x 9.66x - - - -
53.5 87.5 69.8 124.9 92.2 124.9 92.2 94.0 139.0 - -
10.98x 7.32x 14.90x 4.81x 3.90x 4.81x 3.90x 4.42x 2.99x - -
4.9 36.7 17.2 43.9 31.8 43.9 31.8 27.9 51.1 3.2 3.4
- - - - - 0.00x 0.00x 25.44x 14.77x 27.48x -
EBITDA 92.23 Long-Term Rating Date -
EBIT 54.50 Long-Term Rating -
Operating Margin 24.38% Long-Term Outlook -
Pretax Margin 25.08% Short-Term Rating Date -
Return on Assets 7.33% Short-Term Rating -
Return on Common Equity 9.28%
Return on Capital 9.42% EBITDA/Interest Exp. 107.74
Asset Turnover 0.51% (EBITDA-Capex)/Interest Exp. 19.32
Net Debt/EBITDA -2.22
Gross Margin 41.0% Total Debt/EBITDA 0.00
EBITDA Margin 41.3%
EBIT Margin 24.4% Total Debt/Equity 0.0%
Net Income Margin 14.2% Total Debt/Capital 0.0%
Asset Turnover 0.51
Current Ratio 7.30 Net Fixed Asset Turnover 1.18
Quick Ratio 6.49 Accounts receivable turnover-days 12.74
Debt to Assets 0.00% Inventory Days 40.24
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 38.79
Accounts Receivable Turnover 28.73 Cash Conversion Cycle 14.19
Inventory Turnover 9.10
Fiscal Year Ended
Aurizon Mines LtdPrice/Volume
Valuation Analysis
785'007.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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50.0
100.0
150.0
200.0
250.0
300.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALAMOS GOLD INC n/a 13D 26'507'283 16.11 - 19.03.2013 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 22'005'946 13.37 - 29.04.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 7'000'000 4.25 - 31.12.2012 Investment Advisor
MONTRUSCO BOLTON INV MONTRUSCO BOLTON INV 13F 6'138'783 3.73 408'275 31.12.2012 Investment Advisor
GCIC LTD/CANADA GOODMAN & COMPANY IN 13F 5'947'500 3.61 (6'022'500) 31.12.2012 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 5'751'260 3.49 4'054'435 31.12.2012 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 4'806'500 2.92 452'400 31.12.2012 Hedge Fund Manager
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 4'430'833 2.69 1'029'681 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'678'543 2.24 (1'265'127) 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 3'537'956 2.15 136'509 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'931'135 1.78 101'700 31.12.2012 Pension Fund (ERISA)
FMR LLC n/a ULT-AGG 2'190'600 1.33 (176'300) 31.12.2012 Investment Advisor
TOUCHSTONE ADVISORS Multiple Portfolios MF-AGG 1'655'218 1.01 1'655'218 28.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'539'910 0.94 - 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'436'486 0.87 3'442 26.04.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'400'000 0.85 - 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 1'289'081 0.78 1'097'036 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 1'264'143 0.77 1'264'143 31.03.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 1'251'251 0.76 (73'649) 31.12.2012 Hedge Fund Manager
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'121'404 0.68 (1'183'046) 31.03.2013 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT neutral 3 M 5 12 month 29.04.2013
BMO Capital Markets BRIAN QUAST underperform 1 M 4 Not Provided 14.04.2013
National Bank Financial PAOLO LOSTRITTO tender #N/A N/A M 5 12 month 05.04.2013
Desjardins Securities ADAM MELNYK tender #N/A N/A M 4 12 month 20.03.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 15.03.2013
Mackie Research Capital Corp. RYAN HANLEY tender #N/A N/A M 5 Not Provided 05.03.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 5 12 month 04.03.2013
Raymond James FORBES GEMMELL Under Review #N/A N/A M #N/A N/A Not Provided 05.02.2013
CIBC World Markets COSMOS CHIU restricted #N/A N/A M #N/A N/A Not Provided 25.01.2013
Loewen, Ondaatje, McCutcheon Ltd MICHAEL G FOWLER buy 5 M 6 12 month 23.01.2013
Scotia Capital OVAIS HABIB restricted #N/A N/A M #N/A N/A Not Provided 21.01.2013
Holdings By:
Aurizon Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Silver Standard Resources Inc. is a silver exploration company focused on
acquiring and developing silver resources on a global basis. The Company
has projects in Argentina, Peru, Mexico, Canada, Chile, the United States and
Australia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 16.92
52-Week Low (18.04.2013) 6.50
Daily Volume
6.94
52-Week High % Change -58.98% Dividend Yield -
52-Week Low % Change 6.77% Beta 1.09
% 52 Week Price Range High/Low 4.22% Equity Float 80.57
Shares Out 30.04.2013 80.8 Short Int 3.54
560.44 1 Yr Total Return -43.39%
Total Debt 135.81 YTD Return -53.39%
Preferred Stock 0.0 Adjusted BETA 1.088
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 366.95 Consensus Rating 3.545
Enterprise Value 329.29
Average Volume 5 Day 1'457'301
SSRI US EQUITY YTD Change - Average Volume 30 Day 1'448'530
SSRI US EQUITY YTD % CHANGE - Average Volume 3 Month 1'212'670
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 5.4 112.3 147.8 241.1 147.8 241.1 216.6 243.4 56.1 59.4
- 307.12x 18.82x 6.19x 4.03x 43.58x 15.70x 1.91x 2.38x 6.70x 7.46x
(17.9) (17.7) 5.3 39.4 54.6 39.4 54.6 55.3 78.7 11.9 15.4
- - 400.55x 23.24x 17.81x 23.24x 17.81x 5.95x 4.18x 4.56x 3.96x
(5.6) (13.2) 338.5 80.1 54.8 80.1 54.8 (8.7) 6.3 (0.7) 0.1
- - - - - 0.00x 0.00x - - - 277.60x
EBITDA 54.59 Long-Term Rating Date -
EBIT 9.75 Long-Term Rating -
Operating Margin 4.04% Long-Term Outlook -
Pretax Margin 14.55% Short-Term Rating Date -
Return on Assets 4.23% Short-Term Rating -
Return on Common Equity 5.37%
Return on Capital - EBITDA/Interest Exp. 2.23
Asset Turnover 0.19% (EBITDA-Capex)/Interest Exp. -0.30
Net Debt/EBITDA -4.23
Gross Margin 19.1% Total Debt/EBITDA 2.49
EBITDA Margin 22.6%
EBIT Margin 4.0% Total Debt/Equity 12.8%
Net Income Margin 22.7% Total Debt/Capital 11.4%
Asset Turnover 0.19
Current Ratio 2.76 Net Fixed Asset Turnover 0.44
Quick Ratio 2.10 Accounts receivable turnover-days 78.06
Debt to Assets 10.31% Inventory Days 184.84
Tot Debt to Common Equity 12.84% Accounts Payable Turnover Day 114.73
Accounts Receivable Turnover 4.69 Cash Conversion Cycle 148.18
Inventory Turnover 1.98
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Silver Standard Resources IncPrice/Volume
Valuation Analysis
1'229'883.00
Current Price (5/dd/yy) Market Data
'.135
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 6'782'680 8.38 (1'486'526) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'574'565 6.89 1'026'633 29.04.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'564'858 4.4 592'287 31.03.2013 Investment Advisor
VINIK ASSET MANAGEME VINIK ASSET MANAGEME 13F 1'781'407 2.2 (195'800) 31.12.2012 Hedge Fund Manager
AXA n/a ULT-AGG 1'508'237 1.86 8'300 31.03.2013 Investment Advisor
NEWGATE CAPITAL MANA NEWGATE CAPITAL MANA 13F 1'283'256 1.59 302'640 31.03.2013 Investment Advisor
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 1'094'787 1.35 (157'540) 31.12.2012 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'085'240 1.34 101'480 31.12.2012 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 915'000 1.13 (75'000) 28.02.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 767'770 0.95 10'900 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 760'453 0.94 97'677 31.12.2012 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 720'000 0.89 (180'000) 31.12.2012 Investment Advisor
UBS n/a ULT-AGG 715'613 0.88 (37'922) 31.12.2012 Unclassified
LRI-FUND MANAGEMENT Multiple Portfolios MF-AGG 681'000 0.84 60'200 31.03.2013 Investment Advisor
NEUFLIZE OBC ASSET M Multiple Portfolios MF-AGG 618'576 0.76 - 30.12.2011 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 523'412 0.65 285'000 31.12.2012 Pension Fund (ERISA)
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 517'492 0.64 65'700 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 498'001 0.62 (78'964) 31.12.2012 Government
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 484'644 0.6 10'100 31.12.2012 Investment Advisor
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 432'690 0.53 238'733 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT buy 5 M 17 12 month 29.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 9 12 month 23.04.2013
Credit Suisse RALPH M PROFITI neutral 3 M 17 Not Provided 22.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 10 12 month 19.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 18.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 12 Not Provided 15.04.2013
Salman Partners ASH GUGLANI buy 5 M 21 Not Provided 12.04.2013
GMP CHELSEA HAMILTON buy 5 M 27 12 month 12.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 27 12 month 12.04.2013
Deutsche Bank JORGE M BERISTAIN sell 1 M 9 12 month 11.04.2013
CIBC World Markets ARNOLD VAN GRAAN sector perform 3 M 12 Not Provided 11.04.2013
Holdings By:
Silver Standard Resources Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Seabridge Gold, Inc. acquires gold projects in North America. The Company
expands and verifies these resources, moves them to reserves to determine their
economic value, and either sells to or forms joint ventures with larger
companies for mine construction and production.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (14.09.2012) 20.34
52-Week Low (18.04.2013) 9.63
Daily Volume
11.37
52-Week High % Change -44.09% Dividend Yield -
52-Week Low % Change 18.07% Beta 0.99
% 52 Week Price Range High/Low 16.25% Equity Float 41.57
Shares Out 30.04.2013 45.6 Short Int 3.88
517.98 1 Yr Total Return -22.34%
Total Debt 0.00 YTD Return -36.73%
Preferred Stock 0.0 Adjusted BETA 0.987
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 52.04 Consensus Rating 4.333
Enterprise Value 469.43
Average Volume 5 Day 218'122
SA US EQUITY YTD Change - Average Volume 30 Day 375'568
SA US EQUITY YTD % CHANGE - Average Volume 3 Month 375'092
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(5.6) (5.0) (5.7) (19.8) (15.8) (19.8) (8.7) (15.0) (16.0) - -
- - - - - 0.00x 0.00x - - - -
10.3 (4.7) 3.3 (20.1) (12.5) (20.1) (12.5) - - - -
- - - - - 0.00x 0.00x - - - -
EBITDA -15.82 Long-Term Rating Date -
EBIT -15.83 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -5.08% Short-Term Rating -
Return on Common Equity -5.37%
Return on Capital - EBITDA/Interest Exp. -385.83
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -1574.22
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 5.11 Net Fixed Asset Turnover 0.00
Quick Ratio 5.11 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Seabridge Gold IncPrice/Volume
Valuation Analysis
217'133.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 11'905'084 26.13 3'512'313 29.04.2013 Investment Advisor
PAN ATLANTIC BANK n/a PROXY 8'001'232 17.56 - 10.05.2012 Bank
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 5'837'287 12.81 (289'596) 31.03.2013 Investment Advisor
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 2'022'491 4.44 2'022'491 31.12.2012 Hedge Fund Manager
FRONK RUDI P n/a SEDI 1'180'000 2.59 10'000 16.11.2012 n/a
ANTHONY JAMES S n/a PROXY 779'791 1.71 - 15.05.2012 n/a
FMR LLC n/a ULT-AGG 601'905 1.32 - 31.03.2013 Investment Advisor
FCMI FINANCIAL CORP n/a PROXY 555'000 1.22 - 10.05.2012 Corporation
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 478'467 1.05 (203'241) 31.03.2013 Hedge Fund Manager
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 457'897 1.01 129'117 31.12.2012 Investment Advisor
FIDEURAM GESTIONS SA Multiple Portfolios MF-AGG 450'000 0.99 - 02.04.2013 Investment Advisor
FNDTN FOR STUDY OBJ n/a SEDI 425'334 0.93 - 06.02.2012 Other
BLACKROCK n/a ULT-AGG 338'330 0.74 (464'930) 26.04.2013 Investment Advisor
FOX LOUIS J n/a SEDI 300'750 0.66 - 06.12.2011 n/a
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 286'420 0.63 (23'150) 31.03.2013 Investment Advisor
THRELKELD WILLIAM E n/a SEDI 265'000 0.58 (10'000) 30.08.2011 n/a
BANFIELD A FREDERICK n/a PROXY 245'000 0.54 - 15.05.2012 n/a
NORGES BANK NORGES BANK 13F 235'224 0.52 (71'639) 31.12.2012 Government
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 198'997 0.44 2'534 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 185'194 0.41 6'435 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen Securities LLC ADAM P GRAF buy 5 M 65 Not Provided 09.04.2013
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 22 12 month 08.03.2013
Nomura TYLER BRODA buy 5 M 24 Not Provided 16.05.2012
Holdings By:
Seabridge Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Tanzanian Royalty Exploration Corporation acquires, explores, and develops
mineral properties. The Company explores for gold.
Latest Fiscal Year: 08/2012
LTM as of: 02/yy
52-Week High (21.09.2012) 5.34
52-Week Low (18.04.2013) 2.42
Daily Volume
2.66
52-Week High % Change -50.19% Dividend Yield -
52-Week Low % Change 9.92% Beta 1.25
% 52 Week Price Range High/Low 8.22% Equity Float 92.75
Shares Out 30.04.2013 100.7 Short Int 8.19
267.81 1 Yr Total Return -36.97%
Total Debt 2.07 YTD Return -39.68%
Preferred Stock 0.0 Adjusted BETA 1.251
Minority Interest 0.0 Analyst Recs 0
Cash and Equivalents 20.06 Consensus Rating -
Enterprise Value 256.10
Average Volume 5 Day 304'965
TRX US EQUITY YTD Change - Average Volume 30 Day 491'191
TRX US EQUITY YTD % CHANGE - Average Volume 3 Month 474'594
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.08.2008 31.08.2009 31.08.2010 31.08.2011 31.08.2012 02/yy 02/yy 08/13 Y 08/14 Y 05/13 Q3 08/13 Q4
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(2.9) (3.4) (3.0) (4.3) (5.1) (4.6) (5.0) - - - -
- - - - - 0.00x 0.00x - - - -
(3.7) (4.7) (3.4) (11.1) (8.9) (14.6) (2.2) - - - -
- - - - - 0.00x 0.00x - - - -
EBITDA -5.06 Long-Term Rating Date -
EBIT -5.44 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -3.52% Short-Term Rating -
Return on Common Equity -4.13%
Return on Capital - EBITDA/Interest Exp. -49.26
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -133.96
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -0.21
EBITDA Margin -
EBIT Margin - Total Debt/Equity 4.1%
Net Income Margin - Total Debt/Capital 3.9%
Asset Turnover 0.00
Current Ratio 8.84 Net Fixed Asset Turnover 0.00
Quick Ratio 8.68 Accounts receivable turnover-days -
Debt to Assets 3.28% Inventory Days -
Tot Debt to Common Equity 4.09% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Tanzanian Royalty Exploration CorpPrice/Volume
Valuation Analysis
327'739.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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0.7
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 13'522'725 13.43 526'026 29.04.2013 Investment Advisor
GEIER GROUP LLC n/a 13G 4'879'743 4.85 (4'801'048) 10.11.2011 Other
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 4'088'532 4.06 52'612 31.12.2012 Investment Advisor
SINCLAIR JAMES E n/a SEDI 1'885'543 1.87 (1'000) 08.02.2013 n/a
BPI GLOBAL INVESTMEN Multiple Portfolios MF-AGG 673'902 0.67 (37'877) 28.09.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 515'272 0.51 826 26.04.2013 Investment Advisor
MORROW ROSALIND n/a SEDI 429'429 0.43 5'382 11.03.2013 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 419'292 0.42 5'200 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 367'112 0.36 141'200 31.12.2012 Pension Fund (ERISA)
HARVEY WILLIAM M n/a SEDI 340'090 0.34 7'732 12.04.2013 n/a
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 334'811 0.33 4'654 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 318'244 0.32 - 29.04.2013 Investment Advisor
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 287'556 0.29 102'344 31.03.2013 Investment Advisor
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 212'810 0.21 250 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 167'687 0.17 134'479 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 145'569 0.14 20'891 31.12.2012 Investment Advisor
LUIS VICTORIA n/a 20F 144'045 0.14 - 31.10.2012 n/a
VAN TONGEREN STEVEN n/a SEDI 124'119 0.12 25'000 18.04.2013 n/a
ALTUS CAPITAL INC ALTUS CAPITAL INC 13F 104'500 0.1 56'500 31.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 97'451 0.1 (17'701) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
#N/A N/A
Holdings By:
Tanzanian Royalty Exploration Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Golden Star Resources Ltd. is a mid-tier gold mining company. The Company's
operating mines are situated along the Ashanti Gold Belt in Ghana, West Africa.
Latest Fiscal Year: 12/1997
LTM as of: 12/yy
52-Week High (16.10.2012) 2.11
52-Week Low (09.05.2013) 0.83
Daily Volume
0.84
52-Week High % Change -60.19% Dividend Yield 0.00
52-Week Low % Change 1.82% Beta 1.08
% 52 Week Price Range High/Low 1.17% Equity Float 257.69
Shares Out 30.04.2013 259.1 Short Int 12.89
217.65 1 Yr Total Return -42.86%
Total Debt 117.48 YTD Return -54.35%
Preferred Stock 0.0 Adjusted BETA 1.083
Minority Interest (2.0) Analyst Recs 10
Cash and Equivalents 78.88 Consensus Rating 2.400
Enterprise Value 254.24
Average Volume 5 Day 2'716'670
GSS US EQUITY YTD Change - Average Volume 30 Day 2'320'868
GSS US EQUITY YTD % CHANGE - Average Volume 3 Month 2'057'891
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
257.4 - 432.7 471.0 550.5 471.0 550.5 504.7 496.4 126.0 128.3
1.43x - 2.72x 0.98x 0.95x 4.90x 3.58x 0.64x 0.61x 2.20x 2.25x
1.8 - 107.6 91.8 124.7 91.8 125.8 87.8 122.5 28.9 28.9
200.09x - 10.93x 5.00x 4.18x 5.00x 4.14x 2.90x 2.07x 2.23x 2.26x
(119.3) - (11.2) (2.1) (9.5) (2.1) (9.5) 0.8 32.3 2.1 2.1
- - - - - 0.00x 0.00x - 7.06x 16.80x 9.23x
EBITDA 124.67 Long-Term Rating Date -
EBIT 25.74 Long-Term Rating -
Operating Margin 4.68% Long-Term Outlook -
Pretax Margin 1.20% Short-Term Rating Date -
Return on Assets -1.31% Short-Term Rating -
Return on Common Equity -2.17%
Return on Capital -4.61% EBITDA/Interest Exp. 12.27
Asset Turnover 0.76% (EBITDA-Capex)/Interest Exp. 3.56
Net Debt/EBITDA 0.31
Gross Margin 9.6% Total Debt/EBITDA 0.93
EBITDA Margin 22.8%
EBIT Margin 4.7% Total Debt/Equity 27.1%
Net Income Margin -1.7% Total Debt/Capital 21.4%
Asset Turnover 0.76
Current Ratio 1.58 Net Fixed Asset Turnover 1.06
Quick Ratio 0.69 Accounts receivable turnover-days 7.30
Debt to Assets 16.18% Inventory Days 60.50
Tot Debt to Common Equity 27.10% Accounts Payable Turnover Day 69.08
Accounts Receivable Turnover 50.11 Cash Conversion Cycle -1.28
Inventory Turnover 6.05
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Golden Star Resources LtdPrice/Volume
Valuation Analysis
5'142'076.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 39'316'268 15.17 - 29.04.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 30'238'600 11.67 (350'000) 31.12.2012 Investment Advisor
HEARTLAND ADVISORS I HEARTLAND ADVISORS I 13F 25'985'870 10.03 (1'326'930) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 10'793'356 4.17 723'887 26.04.2013 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 6'281'374 2.42 1'230'943 31.12.2012 Hedge Fund Manager
STATE STREET n/a ULT-AGG 4'897'831 1.89 12'016 29.04.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 4'819'436 1.86 (1'475'687) 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'713'690 1.43 3'703'206 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 3'486'925 1.35 2'002'700 31.12.2012 Pension Fund (ERISA)
PRINCIPAL FINANCIAL n/a ULT-AGG 3'093'334 1.19 1'200'671 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'064'953 1.18 (52'441) 31.12.2012 Investment Advisor
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 2'625'741 1.01 125'700 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 2'259'552 0.87 1'129'776 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 1'934'059 0.75 - 31.12.2012 Government
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 1'870'572 0.72 1'267'792 31.03.2013 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 1'845'827 0.71 139'300 28.02.2013 Investment Advisor
NEW YORK STATE COMMO NEW YORK STATE COMMO 13F 1'725'479 0.67 206'700 31.12.2012 Pension Fund (ERISA)
SYSTEMATIC FINANCIAL SYSTEMATIC FINANCIAL 13F 1'647'710 0.64 277'080 31.12.2012 Investment Advisor
LEGG MASON CAPITAL M Multiple Portfolios MF-AGG 1'467'781 0.57 - 31.03.2013 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 1'164'787 0.45 (51'919) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie PIERRE VAILLANCOURT neutral 3 M 1 12 month 25.04.2013
Raymond James BRAD HUMPHREY market perform 3 M 2 12 month 24.04.2013
Scotia Capital TREVOR TURNBULL sector underperform 1 D 1 12 month 23.04.2013
Credit Suisse ANITA SONI underperform 1 M 1 Not Provided 22.04.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 2 Not Provided 15.04.2013
Canaccord Genuity Corp RAHUL PAUL hold 3 M 2 12 month 15.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 2 Not Provided 11.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 3 12 month 09.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 04.04.2013
Holdings By:
Golden Star Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Vista Gold Corp. is an international gold mining company. The Company is
focused on its core projects, the Concordia gold project located in Baja
California Sur, Mexico and the Mt. Todd gold project in Northern Territory,
Australia.
Latest Fiscal Year: 12/2007
LTM as of: 12/yy
52-Week High (21.09.2012) 4.09
52-Week Low (17.04.2013) 1.47
Daily Volume
1.51
52-Week High % Change -63.08% Dividend Yield 0.00
52-Week Low % Change 2.72% Beta 1.17
% 52 Week Price Range High/Low 1.53% Equity Float 68.27
Shares Out 30.04.2013 81.7 Short Int 1.54
123.40 1 Yr Total Return -47.75%
Total Debt 0.00 YTD Return -44.07%
Preferred Stock 0.0 Adjusted BETA 1.170
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 88.40 Consensus Rating 5.000
Enterprise Value 35.00
Average Volume 5 Day 269'009
VGZ US EQUITY YTD Change - Average Volume 30 Day 432'697
VGZ US EQUITY YTD % CHANGE - Average Volume 3 Month 493'918
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 0.0 - -
- - - - - #DIV/0! #DIV/0! - - - -
(6.5) (6.1) (17.7) (28.1) (35.6) (28.1) (34.5) (20.4) (19.1) (5.8) (6.0)
- - - - - 0.00x 0.00x - - - -
(10.0) (1.9) (20.0) 51.5 (70.7) 51.5 (69.5) (20.1) (13.7) (6.3) (4.6)
- - - - - 0.00x 0.00x - - - -
EBITDA -35.63 Long-Term Rating Date -
EBIT -36.22 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -44.30% Short-Term Rating -
Return on Common Equity -57.29%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 2.94 Net Fixed Asset Turnover 0.00
Quick Ratio 2.84 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Vista Gold CorpPrice/Volume
Valuation Analysis
296'931.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 12'084'310 14.82 1'272'000 31.12.2012 Hedge Fund Manager
SUN VALLEY GOLD LLC n/a Research 12'084'310 14.82 - 31.12.2012 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 11'374'527 13.95 - 29.04.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 6'145'260 7.53 (430'462) 31.03.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 2'577'504 3.16 268'822 26.04.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 1'758'748 2.16 - 31.12.2012 Corporation
ANDREEFF EQUITY ADVI ANDREEFF EQUITY ADVI 13F 1'586'026 1.94 (20'971) 31.12.2012 Hedge Fund Manager
STATE STREET n/a ULT-AGG 888'193 1.09 (20'701) 26.04.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 871'929 1.07 343'929 31.03.2013 Investment Advisor
PERRITT CAPITAL MANA PERRITT CAPITAL MANA 13F 822'000 1.01 - 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 732'415 0.9 - 31.12.2012 Pension Fund (ERISA)
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 709'055 0.87 21'681 31.12.2012 Investment Advisor
PARKER FREDERICK H E n/a Form 4 556'325 0.68 - 05.09.2012 n/a
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 283'993 0.35 (24'847) 31.12.2012 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 271'783 0.33 160'360 31.12.2012 Investment Advisor
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 248'473 0.3 88'467 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 201'025 0.25 11'051 31.03.2013 Investment Advisor
AQR CAPITAL MANAGEME AQR CAPITAL MANAGEME 13F 193'800 0.24 137'400 31.12.2012 Hedge Fund Manager
RICHINGS MICHAEL B n/a Form 4 188'121 0.23 - 08.01.2013 n/a
IFM - INDEPENDENT FU Multiple Portfolios MF-AGG 180'750 0.22 (33'250) 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT buy 5 M 5 12 month 29.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 4 12 month 09.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 13 Not Provided 09.04.2013
Roth Capital Partners BRIAN W POST buy 5 M 7 12 month 28.03.2013
Stonegate Securities Inc MARCO RODRIGUEZ no rating system #N/A N/A M #N/A N/A Not Provided 19.03.2013
Holdings By:
Vista Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Great Basin Gold Limited explores and develops gold properties. The Company
prospects for gold in the Witwatersrand Basin in South Africa and the Carlin
Trend in Nevada.
Latest Fiscal Year: 12/2011
LTM as of: 09/yy
52-Week High (15.06.2012) 0.78
52-Week Low (03.05.2013) 0.01
Daily Volume
0.0069
52-Week High % Change -99.11% Dividend Yield -
52-Week Low % Change 15.00% Beta -
% 52 Week Price Range High/Low 0.12% Equity Float -
Shares Out 28.09.2012 552.4 Short Int 0.69
3.81 1 Yr Total Return -98.96%
Total Debt 282.45 YTD Return -
Preferred Stock 0.0 Adjusted BETA -
Minority Interest 0.0 Analyst Recs 0
Cash and Equivalents 25.75 Consensus Rating -
Enterprise Value 320.03
Average Volume 5 Day 1'812'538
GBGLF US EQUITY YTD Change - Average Volume 30 Day 1'997'757
GBGLF US EQUITY YTD % CHANGE - Average Volume 3 Month 2'676'800
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2007 31.12.2008 31.12.2009 31.12.2010 31.12.2011 09/yy 09/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
0.0 24.7 33.7 99.7 170.3 172.5 144.8 - - - -
- 14.86x 19.15x 14.22x 4.16x 28.57x 13.73x - - - -
(62.2) (104.9) (50.6) (15.7) 18.3 24.5 (26.1) - - - -
- - - - 38.63x 43.55x 0.00x - - - -
(51.2) (84.9) (48.4) (27.1) (17.7) (48.2) (91.7) - - - -
- - - - - 0.00x 0.00x - - - -
EBITDA 18.34 Long-Term Rating Date -
EBIT -0.57 Long-Term Rating -
Operating Margin -0.33% Long-Term Outlook -
Pretax Margin -38.35% Short-Term Rating Date -
Return on Assets -11.45% Short-Term Rating -
Return on Common Equity -22.67%
Return on Capital - EBITDA/Interest Exp. 0.75
Asset Turnover 0.18% (EBITDA-Capex)/Interest Exp. -5.72
Net Debt/EBITDA -
Gross Margin 29.7% Total Debt/EBITDA -12.49
EBITDA Margin -18.0%
EBIT Margin -28.2% Total Debt/Equity 59.9%
Net Income Margin -10.4% Total Debt/Capital 37.5%
Asset Turnover 0.18
Current Ratio 0.78 Net Fixed Asset Turnover 0.20
Quick Ratio 0.50 Accounts receivable turnover-days 19.73
Debt to Assets 33.22% Inventory Days 69.54
Tot Debt to Common Equity 59.90% Accounts Payable Turnover Day 202.52
Accounts Receivable Turnover 18.55 Cash Conversion Cycle 39.53
Inventory Turnover 5.26
Fiscal Year Ended
Great Basin Gold LtdPrice/Volume
Valuation Analysis
602'532.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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100.0
120.0
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160.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 40'178'947 7.27 - 29.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 23'107'390 4.18 - 31.01.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 22'797'000 4.13 - 27.12.2012 Hedge Fund Manager
TRANTER GOLD (BEE) n/a Research 20'932'183 3.79 - 24.04.2012 n/a
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 18'400'000 3.33 - 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 9'258'842 1.68 (17'025) 31.01.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 4'342'634 0.79 1'340'000 31.12.2012 Pension Fund (ERISA)
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 3'530'000 0.64 - 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 2'801'617 0.51 - 31.07.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'686'303 0.49 1'050 31.03.2013 Investment Advisor
BARCLAYS PLC n/a ULT-AGG 1'988'058 0.36 (286'003) 31.12.2012 Investment Advisor
SCOTIA CAPITAL INC SCOTIA CAPITAL INC 13F 1'946'721 0.35 1'946'721 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'785'700 0.32 (17'785'700) 31.03.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 1'173'800 0.21 (768'400) 31.12.2012 Investment Advisor
DIPPENAAR FERDINAND n/a SEDI 1'126'800 0.2 100'000 13.04.2012 n/a
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 1'107'918 0.2 - 31.12.2012 Investment Advisor
ZURCHER KANTONALBANK ZURCHER KANTONALBANK 13F 1'017'100 0.18 - 31.12.2012 Investment Advisor
CREDIT SUISSE AG CREDIT SUISSE AG 13F 990'156 0.18 990'156 31.12.2012 Investment Advisor
MOSTERT JACOB DAWID n/a SEDI 731'273 0.13 - 16.04.2012 n/a
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 674'505 0.12 - 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
#N/A N/A
Holdings By:
Great Basin Gold Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Argonaut Gold, Inc. explores for gold. The Company owns the operating El
Castillo mine, the San Antonio development stage project and advanced stage
exploration properties including: La Fortuna and La Colorada.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.10.2012) 11.08
52-Week Low (17.04.2013) 5.24
Daily Volume
6.35
52-Week High % Change -42.69% Dividend Yield 0.00
52-Week Low % Change 21.18% Beta 1.17
% 52 Week Price Range High/Low 19.01% Equity Float 144.53
Shares Out 30.04.2013 149.0 Short Int 11.88
945.96 1 Yr Total Return -14.77%
Total Debt 0.00 YTD Return -32.95%
Preferred Stock 0.0 Adjusted BETA 1.175
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 191.89 Consensus Rating 4.273
Enterprise Value 747.73
Average Volume 5 Day 1'059'262
AR CN EQUITY YTD Change - Average Volume 30 Day 1'208'092
AR CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'311'937
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
- - 51.6 104.6 187.1 104.6 187.1 214.3 274.5 42.8 41.0
- - 4.70x 5.77x 6.53x 22.56x 19.22x 3.45x 2.68x 17.12x 17.77x
- - 15.3 55.9 107.3 55.9 107.3 105.9 137.8 19.2 15.8
- - 15.83x 10.78x 11.39x 10.78x 11.39x 7.06x 5.42x 8.65x 8.15x
(0.1) (0.5) 3.7 26.3 64.9 26.3 64.9 65.8 95.7 12.6 9.5
- - 66.38x 24.42x 14.00x 24.42x 15.35x 15.61x 11.22x 14.74x 13.42x
EBITDA 107.29 Long-Term Rating Date -
EBIT 85.19 Long-Term Rating -
Operating Margin 45.53% Long-Term Outlook -
Pretax Margin 45.69% Short-Term Rating Date -
Return on Assets 10.38% Short-Term Rating -
Return on Common Equity 11.44%
Return on Capital 11.43% EBITDA/Interest Exp. 296.39
Asset Turnover 0.30% (EBITDA-Capex)/Interest Exp. 159.48
Net Debt/EBITDA -1.79
Gross Margin 62.5% Total Debt/EBITDA 0.00
EBITDA Margin 57.3%
EBIT Margin 45.5% Total Debt/Equity 0.0%
Net Income Margin 34.7% Total Debt/Capital 0.0%
Asset Turnover 0.30
Current Ratio 12.31 Net Fixed Asset Turnover 0.41
Quick Ratio 9.89 Accounts receivable turnover-days 16.68
Debt to Assets 0.00% Inventory Days 182.86
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 31.36
Accounts Receivable Turnover 21.94 Cash Conversion Cycle 178.40
Inventory Turnover 2.00
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Argonaut Gold IncPrice/Volume
Valuation Analysis
706'865.00
Current Price (5/dd/yy) Market Data
'
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40.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 15'290'043 10.27 2'255'841 29.04.2013 Investment Advisor
IG INVESTMENT MANAGE n/a Co File 6'707'533 4.51 - 30.09.2011 Investment Advisor
LIBRA ADVISORS LLC n/a SEDI 5'768'001 3.87 (117'000) 02.03.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 5'602'697 3.76 - 28.02.2013 Investment Advisor
SENTRY SELECT CAPITA Multiple Portfolios MF-AGG 3'138'600 2.11 - 30.06.2012 Investment Advisor
MONTRUSCO BOLTON INV Multiple Portfolios MF-AGG 2'898'359 1.95 (64'299) 28.02.2013 Investment Advisor
GCIC LTD/CANADA Multiple Portfolios MF-AGG 2'517'350 1.69 2'517'350 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 2'489'862 1.67 422'500 31.03.2013 Investment Advisor
ALTAMIRA MANAGEMENT Multiple Portfolios MF-AGG 2'178'036 1.46 484'288 28.02.2013 Unclassified
FIERA CAPITAL CORPOR Multiple Portfolios MF-AGG 1'883'374 1.26 196'782 31.01.2013 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 1'530'917 1.03 (8'500) 31.01.2013 Investment Advisor
KENNEDY BRIAN JOHN n/a SEDI 1'472'476 0.99 5'488 06.02.2013 n/a
DOUGHERTY PETER C n/a SEDI 1'337'779 0.9 54'885 06.02.2013 n/a
BLACKROCK n/a ULT-AGG 1'327'890 0.89 3'102 26.04.2013 Investment Advisor
NORTHWEST MUTUAL FUN Multiple Portfolios MF-AGG 1'143'256 0.77 (60'470) 28.02.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'133'457 0.76 (54'000) 28.09.2012 Investment Advisor
SMITH EDGAR A n/a SEDI 1'120'359 0.75 39'286 14.02.2011 n/a
CARMIGNAC GESTION Multiple Portfolios MF-AGG 1'050'881 0.71 (99'119) 29.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 1'028'750 0.69 - 28.02.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 994'950 0.67 331'100 31.03.2013 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CIBC World Markets CHITIMUKULU MUSONDA sector perform 3 N 8 18 month 29.04.2013
Macquarie MICHAEL SIPERCO outperform 5 M 9 12 month 25.04.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 M 12 12 month 22.04.2013
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 M 11 12 month 22.04.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 11 12 month 19.04.2013
BMO Capital Markets ANDREW KAIP outperform 5 M 12 Not Provided 16.04.2013
GMP ANDREW MIKITCHOOK buy 5 M 15 Not Provided 16.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 09.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 12 12 month 27.03.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 14 12 month 26.03.2013
Mine2Capital Inc ALKA SINGH sell 1 M 8 Not Provided 26.02.2013
MLV & Co RICHARD TROTMAN suspended coverage #N/A N/A M #N/A N/A Not Provided 16.07.2012
Holdings By:
Argonaut Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Torex Gold Resources Inc. is a mining company dedicated to the exploration and
development of precious metal resources with a focus on gold. The Company's
Morelos Project is an advanced stage gold exploration property located in the
state of Guerrero, southwest of Mexico City.
Latest Fiscal Year: 10/2012
LTM as of: 10/yy
52-Week High (21.09.2012) 2.29
52-Week Low (15.04.2013) 1.19
Daily Volume
1.41
52-Week High % Change -38.43% Dividend Yield 0.00
52-Week Low % Change 18.49% Beta 1.02
% 52 Week Price Range High/Low 20.00% Equity Float 604.09
Shares Out 30.04.2013 606.5 Short Int 2.40
855.17 1 Yr Total Return -16.07%
Total Debt 0.00 YTD Return -35.91%
Preferred Stock 0.0 Adjusted BETA 1.023
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 423.29 Consensus Rating 4.667
Enterprise Value 431.87
Average Volume 5 Day 1'904'344
TXG CN EQUITY YTD Change - Average Volume 30 Day 3'934'004
TXG CN EQUITY YTD % CHANGE - Average Volume 3 Month 3'516'153
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.10.2008 31.10.2009 31.10.2010 31.10.2011 31.10.2012 10/yy 10/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
- - - - - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
(0.3) (1.1) (18.0) (34.1) (60.4) (34.1) (60.4) (61.7) (60.9) (15.2) (15.2)
- - - - - 0.00x 0.00x - - - -
(0.3) (1.0) (16.4) (33.9) (61.2) (33.9) (61.2) (57.6) (64.1) (12.7) (13.0)
- - - - - 0.00x 0.00x - - - -
EBITDA -60.39 Long-Term Rating Date -
EBIT -60.89 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -13.72% Short-Term Rating -
Return on Common Equity -13.96%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 50.56 Net Fixed Asset Turnover 0.00
Quick Ratio 50.21 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Torex Gold Resources IncPrice/Volume
Valuation Analysis
2'669'052.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TYRUS CAPITAL S.A.M. n/a Co File 86'300'000 14.23 1'000'000 31.01.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 61'342'470 10.11 15'866'564 29.04.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 34'109'990 5.62 (42'200) 31.03.2013 Hedge Fund Manager
GCIC LTD/CANADA Multiple Portfolios MF-AGG 25'141'050 4.15 14'561'050 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 22'706'997 3.74 2'147'411 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 21'734'500 3.58 6'714'500 31.01.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 18'057'177 2.98 1'659'100 28.02.2013 Bank
INVESCO LTD n/a ULT-AGG 11'268'788 1.86 1'434'766 29.04.2013 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 6'062'900 1 (1'969'100) 29.03.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 5'808'000 0.96 (931'500) 27.12.2012 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 5'274'116 0.87 12'628 26.04.2013 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 5'250'000 0.87 5'250'000 31.12.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 5'133'800 0.85 150'000 31.12.2012 Hedge Fund Manager
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 5'129'653 0.85 431'600 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 5'036'452 0.83 - 28.02.2013 Investment Advisor
FIRST CANADIAN MUTUA Multiple Portfolios MF-AGG 4'640'031 0.77 - 29.04.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 3'217'000 0.53 - 28.09.2012 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 2'949'500 0.49 2'500'000 28.02.2013 Investment Advisor
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 2'809'056 0.46 (245'778) 31.03.2013 Hedge Fund Manager
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 2'784'900 0.46 - 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON buy 5 M 3 Not Provided 26.04.2013
Macquarie PIERRE VAILLANCOURT outperform 5 M 3 12 month 25.04.2013
Industrial Alliance Securities MERRILL MCHENRY buy 5 M 2 12 month 25.04.2013
TD Securities DANIEL EARLE hold 3 M 2 12 month 23.04.2013
BMO Capital Markets ANDREW BREICHMANAS speculative outperform 4 M 3 Not Provided 15.04.2013
GMP GEORGE V ALBINO buy 5 M 3 12 month 15.04.2013
Clarus Securities JAMIE SPRATT buy 5 N 3 12 month 07.03.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 3 12 month 07.01.2013
Scotia Capital TREVOR TURNBULL sector outperform 5 M 3 12 month 31.10.2012
Holdings By:
Torex Gold Resources Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
LionGold Corp is an investment holding company focusing on gold mining, mine
development and exploration globally.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (26.07.2012) 1.30
52-Week Low (23.05.2012) 0.96
Daily Volume
1.14
52-Week High % Change -12.31% Dividend Yield 0.00
52-Week Low % Change 18.75% Beta 0.62
% 52 Week Price Range High/Low 55.88% Equity Float 736.17
Shares Out 10.05.2013 921.9 Short Int -
1'051.01 1 Yr Total Return 13.43%
Total Debt 31.11 YTD Return 4.11%
Preferred Stock 0.0 Adjusted BETA 0.616
Minority Interest (3.0) Analyst Recs 2
Cash and Equivalents 31.66 Consensus Rating 3.000
Enterprise Value 1'012.39
Average Volume 5 Day 19'008'200
LIGO SP EQUITY YTD Change - Average Volume 30 Day 18'141'470
LIGO SP EQUITY YTD % CHANGE - Average Volume 3 Month 18'137'150
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
72.0 79.8 70.4 83.9 98.0 77.1 111.8 111.0 143.0 - -
0.64x 0.56x 3.80x 6.95x 7.95x 24.11x 33.63x - - - -
0.4 (3.7) 3.1 4.0 (5.3) (9.1) (18.2) - - - -
114.85x - 84.96x 144.70x - 0.00x 0.00x - - - -
(4.7) (5.0) 2.9 0.9 (27.8) (15.1) (18.5) 4.9 10.1 - -
- - 92.86x 740.91x - 0.00x 0.00x 190.00x 87.69x - -
EBITDA -5.31 Long-Term Rating Date -
EBIT -6.26 Long-Term Rating -
Operating Margin -6.39% Long-Term Outlook -
Pretax Margin -31.95% Short-Term Rating Date -
Return on Assets -13.46% Short-Term Rating -
Return on Common Equity -23.76%
Return on Capital - EBITDA/Interest Exp. -1.79
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. -2.01
Net Debt/EBITDA -15.19
Gross Margin 10.5% Total Debt/EBITDA 25.31
EBITDA Margin 1.5%
EBIT Margin -1.4% Total Debt/Equity 93.4%
Net Income Margin -28.4% Total Debt/Capital 50.7%
Asset Turnover 0.55
Current Ratio 2.52 Net Fixed Asset Turnover 7.06
Quick Ratio 1.58 Accounts receivable turnover-days 88.47
Debt to Assets 33.89% Inventory Days 45.83
Tot Debt to Common Equity 93.42% Accounts Payable Turnover Day 145.53
Accounts Receivable Turnover 4.14 Cash Conversion Cycle 2.67
Inventory Turnover 7.99
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
LionGold Corp LtdPrice/Volume
Valuation Analysis
8'578'000.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ASIASONS INVESTMENT n/a EXCH 77'500'000 8.41 - 28.03.2013 Holding Company
VAN ECK ASSOCIATES C n/a ULT-AGG 59'245'000 6.43 4'746'000 29.04.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 48'666'000 5.28 3'500'000 28.03.2013 Investment Advisor
VENATON HOLDINGS LIM n/a EXCH 42'100'000 4.57 - 06.11.2012 Holding Company
FORTE SERVICES LIMIT n/a EXCH 40'000'000 4.34 - 06.11.2012 Other
NOMURA n/a ULT-AGG 39'154'410 4.25 - 09.04.2013 Unclassified
CREDIT SUISSE AG n/a EXCH 29'800'996 3.23 (2'001'000) 04.12.2012 Investment Advisor
BIN ABDUL DAI MD WIR n/a EXCH 16'425'000 1.78 - 06.11.2012 n/a
DMG & PARTNERS SECUR n/a Co File 7'600'000 0.82 - 29.06.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 4'232'691 0.46 692'000 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 2'721'000 0.3 47'000 31.07.2012 Investment Advisor
NG YICK HING NICHOLA n/a EXCH 2'000'000 0.22 2'000'000 14.02.2013 n/a
BLACKROCK n/a ULT-AGG 1'829'000 0.2 - 26.04.2013 Investment Advisor
JOHN HANCOCK INVESTM Multiple Portfolios MF-AGG 566'000 0.06 (110'000) 28.02.2013 Investment Advisor
STATE STREET n/a ULT-AGG 420'000 0.05 - 29.04.2013 Investment Advisor
CHARLES SCHWAB INVES Multiple Portfolios MF-AGG 303'000 0.03 - 29.04.2013 Investment Advisor
SCANLAN GARY FRANCIS n/a EXCH 135'005 0.01 - 08.10.2012 n/a
INVESCO LTD n/a ULT-AGG 120'000 0.01 - 29.04.2013 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 39'622 0 - 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 35'809 0 - 26.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 17.01.2013
SIAS Research Pte Ltd JINSHU LIU overweight 5 M 1 12 month 10.07.2012
Holdings By:
LionGold Corp Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
China Gold International Resources Corp Ltd. is a mining company focused on the
exploration and development of gold projects in inner Mongolia and copper
projects in Tibet Autonomous Region of China.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 4.65
52-Week Low (31.07.2012) 2.30
Daily Volume
2.95
52-Week High % Change -36.56% Dividend Yield 0.00
52-Week Low % Change 28.26% Beta 1.35
% 52 Week Price Range High/Low 27.66% Equity Float 240.39
Shares Out 30.04.2013 396.4 Short Int 1.52
1'169.26 1 Yr Total Return -26.80%
Total Debt 212.93 YTD Return -13.49%
Preferred Stock 0.0 Adjusted BETA 1.351
Minority Interest 8.1 Analyst Recs 7
Cash and Equivalents 181.74 Consensus Rating 3.857
Enterprise Value 1'200.69
Average Volume 5 Day 268'759
CGG CN EQUITY YTD Change - Average Volume 30 Day 367'619
CGG CN EQUITY YTD % CHANGE - Average Volume 3 Month 343'048
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
29.4 81.0 133.2 311.3 332.4 311.3 332.4 354.5 636.3 - -
3.54x 7.07x 15.60x 2.82x 4.21x 17.98x 18.21x 3.83x 2.14x - -
(0.1) 25.0 69.3 140.5 138.7 140.5 138.7 153.5 244.5 - -
- 22.93x 29.97x 6.24x 10.08x 6.24x 10.08x 7.82x 4.91x - -
14.6 (9.3) 26.2 79.4 70.9 79.4 70.9 65.3 95.3 - -
36.15x - 39.69x 13.23x 19.15x 13.23x 19.14x 18.31x 15.67x - -
EBITDA 138.66 Long-Term Rating Date -
EBIT 99.49 Long-Term Rating -
Operating Margin 29.93% Long-Term Outlook -
Pretax Margin 29.99% Short-Term Rating Date -
Return on Assets 4.00% Short-Term Rating -
Return on Common Equity 5.37%
Return on Capital 5.34% EBITDA/Interest Exp. 11.05
Asset Turnover 0.19% (EBITDA-Capex)/Interest Exp. -6.09
Net Debt/EBITDA 0.22
Gross Margin 37.6% Total Debt/EBITDA 1.54
EBITDA Margin 41.7%
EBIT Margin 29.9% Total Debt/Equity 15.7%
Net Income Margin 21.3% Total Debt/Capital 13.5%
Asset Turnover 0.19
Current Ratio 1.57 Net Fixed Asset Turnover 0.24
Quick Ratio 1.26 Accounts receivable turnover-days 13.92
Debt to Assets 11.79% Inventory Days 57.83
Tot Debt to Common Equity 15.66% Accounts Payable Turnover Day 121.78
Accounts Receivable Turnover 26.30 Cash Conversion Cycle -50.04
Inventory Turnover 6.33
Fiscal Year Ended
China Gold International Resources Corp LtdPrice/Volume
Valuation Analysis
353'460.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CHINA NATIONAL GOLD n/a SEDI 155'794'830 39.31 184'200 30.09.2011 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 19'544'034 4.93 (88'164) 29.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 1'926'970 0.49 5'051 26.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'685'900 0.43 (100'000) 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 842'343 0.21 (14'500) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 835'296 0.21 - 31.07.2012 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 167'874 0.04 - 29.04.2013 Investment Advisor
HE YINGBIN n/a SEDI 160'000 0.04 40'000 09.01.2013 n/a
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 151'700 0.04 53'000 31.12.2012 Investment Advisor
SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 150'000 0.04 - 28.02.2013 Investment Advisor
MARLBOROUGH FUND MAN Multiple Portfolios MF-AGG 146'950 0.04 - 01.10.2012 Investment Advisor
STATE STREET n/a ULT-AGG 124'448 0.03 - 29.04.2013 Investment Advisor
DAIWA SB INVESTMENT Multiple Portfolios MF-AGG 100'000 0.03 - 11.01.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 97'155 0.02 - 31.12.2012 Bank
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 90'000 0.02 - 31.01.2013 Investment Advisor
INDEXIQ ADVISORS LLC Multiple Portfolios MF-AGG 78'294 0.02 - 29.04.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 74'886 0.02 (1'515) 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 67'440 0.02 11'974 31.01.2013 Investment Advisor
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 59'705 0.02 - 31.01.2013 Investment Advisor
SUN LIFE FINANCIAL I n/a ULT-AGG 56'133 0.01 684 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Argonaut Securities Pty Ltd CHRIS JIANG buy 5 U 4 12 month 24.04.2013
Guotai Junan KEVIN GUO neutral 3 D 3 Not Provided 22.04.2013
Credit Suisse OWEN LIANG neutral 3 M 3 Not Provided 09.04.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 02.04.2013
BOCOM International Holdings BENJAMIN PEI long-term buy 5 M 4 Not Provided 28.03.2013
Citic Securities Co., Ltd SONG XIAOQING overweight 5 N 4 6 month 14.01.2013
CCB International Securities Ltd KIN CHUNG LI outperform 5 M 4 Not Provided 12.09.2012
GuoSen Securities Co Ltd CHENGMING GAO buy 5 M 5 12 month 02.02.2012
Holdings By:
China Gold International Resources Corp Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Perseus Mining Limited is a mineral exploration Company. The Company explores
for gold in West Africa and Central Asia regions.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (04.10.2012) 3.07
52-Week Low (15.04.2013) 1.26
Daily Volume
1.44
52-Week High % Change -53.09% Dividend Yield -
52-Week Low % Change 14.29% Beta 1.41
% 52 Week Price Range High/Low 9.94% Equity Float 449.49
Shares Out 01.01.2013 458.0 Short Int 0.32
659.47 1 Yr Total Return -41.46%
Total Debt 60.26 YTD Return -34.55%
Preferred Stock 0.0 Adjusted BETA 1.409
Minority Interest (0.6) Analyst Recs 23
Cash and Equivalents 105.50 Consensus Rating 4.348
Enterprise Value 615.90
Average Volume 5 Day 2'089'810
PRU CN EQUITY YTD Change - Average Volume 30 Day 2'088'019
PRU CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'720'522
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 12/yy 12/yy 06/13 Y 06/14 Y 03/13 Q3 06/13 Q4
- - 0.0 0.0 144.7 0.0 291.8 312.9 400.9 96.1 96.1
- - - - 7.53x #DIV/0! 14.83x 1.95x 1.62x - -
(5.5) (3.3) (10.1) (32.0) 55.3 (8.7) 127.3 125.6 169.0 - -
- - - - 19.72x 0.00x 7.27x 4.90x 3.64x - -
(4.8) (4.8) (9.7) (48.2) 47.2 4.4 62.5 58.8 86.9 26.0 26.0
- - - - - 0.00x 0.00x 11.13x 7.19x 7.78x 6.14x
EBITDA 55.28 Long-Term Rating Date -
EBIT 45.11 Long-Term Rating -
Operating Margin 31.18% Long-Term Outlook -
Pretax Margin 41.62% Short-Term Rating Date -
Return on Assets 12.17% Short-Term Rating -
Return on Common Equity 17.73%
Return on Capital - EBITDA/Interest Exp. 28.41
Asset Turnover - (EBITDA-Capex)/Interest Exp. 26.49
Net Debt/EBITDA -0.31
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 16.7%
Net Income Margin 32.6% Total Debt/Capital 14.3%
Asset Turnover -
Current Ratio 1.55 Net Fixed Asset Turnover -
Quick Ratio 1.13 Accounts receivable turnover-days -
Debt to Assets 11.39% Inventory Days -
Tot Debt to Common Equity 16.72% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Perseus Mining LtdPrice/Volume
Valuation Analysis
1'555'688.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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40.0
60.0
80.0
100.0
120.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DUNDEE CORP n/a EXCH 50'889'000 11.11 (5'997'500) 12.10.2011 Holding Company
THE BANK OF NOVA SCO n/a EXCH 44'475'800 9.71 (5'324'430) 22.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 43'695'232 9.54 - 29.04.2013 Investment Advisor
GCIC LTD/CANADA Multiple Portfolios MF-AGG 38'629'803 8.44 (44'197) 31.01.2013 Investment Advisor
WELLINGTON MANAGEMEN n/a EXCH 24'286'071 5.3 - 05.03.2013 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 13'439'700 2.93 930'000 31.01.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 10'980'300 2.4 - 28.02.2013 Investment Advisor
SENTRY SELECT CAPITA Multiple Portfolios MF-AGG 10'294'000 2.25 - 30.06.2012 Investment Advisor
FMR LLC n/a ULT-AGG 8'160'134 1.78 520'000 31.03.2013 Investment Advisor
FIRST CANADIAN MUTUA Multiple Portfolios MF-AGG 6'787'860 1.48 - 29.04.2013 Investment Advisor
IVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 6'159'171 1.34 3'159'171 31.12.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 5'531'332 1.21 392'732 31.12.2012 Hedge Fund Manager
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 5'421'800 1.18 - 30.11.2012 Investment Advisor
MONTRUSCO BOLTON INV Multiple Portfolios MF-AGG 5'295'993 1.16 83'550 28.02.2013 Investment Advisor
SCOTIA ASSET MANAGEM Multiple Portfolios MF-AGG 4'921'700 1.07 - 28.02.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 4'610'900 1.01 - 28.09.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 4'180'243 0.91 1'760 28.02.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 4'000'000 0.87 - 31.12.2012 Investment Advisor
CALDERWOOD MARK ANDR n/a EXCH 3'600'000 0.79 - 31.01.2013 n/a
BLACKROCK n/a ULT-AGG 3'142'710 0.69 3'759 26.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 2 Not Provided 29.04.2013
Clarus Securities NANA SANGMUAH buy 5 M 3 12 month 29.04.2013
Macquarie PIERRE VAILLANCOURT outperform 5 M 2 12 month 25.04.2013
Goldman Sachs PAUL HISSEY neutral/attractive 3 M 2 12 month 24.04.2013
Morgan Stanley BRENDAN FITZPATRICK Overwt/In-Line 5 M 2 12 month 22.04.2013
Canaccord Genuity Corp REG SPENCER buy 5 M 2 Not Provided 22.04.2013
Cormark Securities Inc. MIKE KOZAK market perform 3 M 3 12 month 22.04.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 2 12 month 22.04.2013
BMO Capital Markets ANDREW BREICHMANAS outperform 5 M 3 Not Provided 19.04.2013
RBC Capital Markets STEUART MCINTYRE sector perform 3 M 2 12 month 19.04.2013
JPMorgan JOSEPH KIM overweight 5 M 2 6 month 19.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 3 Not Provided 19.04.2013
CIMB JAMES STEWART outperform 5 M 3 12 month 19.04.2013
GMP LEVI SPRY buy 5 M 3 12 month 19.04.2013
Commonwealth Bank ANDREW KNUCKEY neutral 3 M 2 12 month 16.04.2013
Dundee Securities Corp JOSH WOLFSON buy 5 M 3 Not Provided 12.04.2013
Nomura DAVID RADCLYFFE suspended coverage #N/A N/A M #N/A N/A Not Provided 12.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 05.04.2013
Bell Potter STEPHEN THOMAS hold 3 M 3 12 month 16.01.2013
Evans & Partners Pty Ltd CATHY MOISES Positive 4 U #N/A N/A Not Provided 03.01.2013
Holdings By:
Perseus Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Sandstorm Gold Ltd. acquires gold purchase agreements with companies that have
advanced stage development projects or operating mines. The Company makes an
upfront cash payment to its partners and receives the right to purchase a
percentage of the gold produced, for the life of the mine, at a fixed price per
ounce.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (05.10.2012) 14.99
52-Week Low (17.04.2013) 6.47
Daily Volume
7.49
52-Week High % Change -50.03% Dividend Yield 0.00
52-Week Low % Change 15.77% Beta 1.22
% 52 Week Price Range High/Low 11.97% Equity Float 82.73
Shares Out 30.04.2013 90.2 Short Int 2.97
675.69 1 Yr Total Return -13.41%
Total Debt 0.00 YTD Return -35.93%
Preferred Stock 0.0 Adjusted BETA 1.218
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 127.36 Consensus Rating 4.000
Enterprise Value 543.80
Average Volume 5 Day 258'891
SSL CN EQUITY YTD Change - Average Volume 30 Day 423'502
SSL CN EQUITY YTD % CHANGE - Average Volume 3 Month 458'250
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
- 0.0 3.1 30.0 55.9 30.0 55.9 71.1 95.3 - -
- - 72.23x 12.63x 15.79x 45.91x 54.42x - - - -
- - (0.2) 19.1 36.6 19.1 36.6 48.5 74.5 - -
- - - 19.80x 24.12x 19.80x 24.12x 11.21x 7.30x - -
(0.1) (0.4) (2.8) 12.5 21.9 12.5 21.9 15.0 23.6 - -
- - 80.46x 39.35x 47.00x 39.35x 47.00x 39.16x 19.47x 28.84x 24.55x
EBITDA 36.63 Long-Term Rating Date -
EBIT 21.91 Long-Term Rating -
Operating Margin 39.17% Long-Term Outlook -
Pretax Margin 45.00% Short-Term Rating Date -
Return on Assets 8.87% Short-Term Rating -
Return on Common Equity 8.98%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -3.48
Gross Margin 78.7% Total Debt/EBITDA 0.00
EBITDA Margin 65.5%
EBIT Margin 39.2% Total Debt/Equity 0.0%
Net Income Margin 39.2% Total Debt/Capital 0.0%
Asset Turnover 0.23
Current Ratio 27.97 Net Fixed Asset Turnover 0.36
Quick Ratio 24.35 Accounts receivable turnover-days 1.33
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 23.45
Accounts Receivable Turnover 274.90 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Sandstorm Gold LtdPrice/Volume
Valuation Analysis
570'132.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 6'344'691 7.15 (28'572) 29.04.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 5'899'720 6.65 50'000 31.12.2012 Investment Advisor
LIBRA ADVISORS LLC n/a SEDI 4'928'760 5.56 - 03.08.2011 Hedge Fund Manager
ARIAS RESOURCE CAPIT n/a SEDI 4'840'000 5.46 - 25.02.2010 Private Equity
WELLS FARGO n/a ULT-AGG 3'119'705 3.52 83'953 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 2'634'762 2.97 (86'410) 31.12.2012 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 1'453'580 1.64 (9'516) 28.02.2013 Bank
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 1'150'440 1.3 (101'600) 31.12.2012 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 1'085'659 1.22 133'753 31.12.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 1'065'600 1.2 (314'400) 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'042'300 1.18 620'000 31.12.2012 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 1'009'660 1.14 (163'340) 29.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 1'005'674 1.13 (92'716) 31.03.2013 Investment Advisor
WATSON NOLAN ALLAN n/a SEDI 930'000 1.05 - 19.06.2012 n/a
MONTRUSCO BOLTON INV MONTRUSCO BOLTON INV 13F 856'750 0.97 856'750 31.12.2012 Investment Advisor
GBC ASSET MANAGEMENT Multiple Portfolios MF-AGG 777'820 0.88 - 31.12.2011 Investment Advisor
FIRST CANADIAN MUTUA Multiple Portfolios MF-AGG 767'280 0.87 (22'700) 30.11.2012 Investment Advisor
DE WITT DAVID E n/a SEDI 767'000 0.86 - 10.05.2012 n/a
AWRAM DAVID I n/a SEDI 759'100 0.86 (3'400) 04.01.2013 n/a
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 688'100 0.78 688'100 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities DANIEL EARLE hold 3 M 9 12 month 23.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 14 12 month 22.04.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 10 12 month 19.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 11 12 month 17.04.2013
National Bank Financial SHANE NAGLE outperform 5 M 13 12 month 09.04.2013
Casimir Capital ERIC WINMILL strong buy 5 M 15 12 month 09.04.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 16 12 month 01.04.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 21.02.2013
Euro Pacific Capital Inc HEIKO IHLE neutral 3 M 13 12 month 29.01.2013
Holdings By:
Sandstorm Gold Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
OceanaGold Corporation is a gold mining and exploration company. The Company
currently owns interests in projects in New Zealand and the Philippines.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (22.10.2012) 3.70
52-Week Low (23.05.2012) 1.70
Daily Volume
2.07
52-Week High % Change -44.05% Dividend Yield 0.00
52-Week Low % Change 21.76% Beta 2.07
% 52 Week Price Range High/Low 18.50% Equity Float 287.46
Shares Out 30.04.2013 293.5 Short Int 1.10
607.58 1 Yr Total Return 2.48%
Total Debt 266.87 YTD Return -27.37%
Preferred Stock 0.0 Adjusted BETA 2.074
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 96.50 Consensus Rating 4.800
Enterprise Value 825.74
Average Volume 5 Day 762'215
OGC CN EQUITY YTD Change - Average Volume 30 Day 990'216
OGC CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'188'190
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
217.2 237.1 305.6 395.6 385.4 393.4 392.5 586.3 636.3 137.0 156.0
0.77x 1.89x 3.30x 1.61x 2.62x 7.19x 7.06x 1.22x 1.01x 5.30x 4.58x
63.7 106.6 141.1 164.3 144.5 145.7 119.7 227.5 218.0 50.5 65.9
2.62x 4.20x 7.15x 3.88x 7.00x 5.58x 0.00x 3.63x 3.79x 3.70x 3.70x
(54.7) 54.5 44.4 44.2 20.7 25.5 31.6 52.1 57.7 10.7 21.6
- 5.68x 18.76x 13.02x 35.81x 26.83x 25.85x 9.43x 6.68x 7.91x 7.48x
EBITDA 144.50 Long-Term Rating Date -
EBIT 53.12 Long-Term Rating -
Operating Margin 13.78% Long-Term Outlook -
Pretax Margin 8.37% Short-Term Rating Date -
Return on Assets 3.38% Short-Term Rating -
Return on Common Equity 5.67%
Return on Capital 6.12% EBITDA/Interest Exp. 5.98
Asset Turnover 0.42% (EBITDA-Capex)/Interest Exp. -6.04
Net Debt/EBITDA 1.31
Gross Margin 17.7% Total Debt/EBITDA 1.48
EBITDA Margin 43.1%
EBIT Margin 17.9% Total Debt/Equity 43.8%
Net Income Margin 5.4% Total Debt/Capital 30.4%
Asset Turnover 0.42
Current Ratio 0.93 Net Fixed Asset Turnover 0.57
Quick Ratio 0.56 Accounts receivable turnover-days 19.41
Debt to Assets 25.87% Inventory Days 88.89
Tot Debt to Common Equity 43.76% Accounts Payable Turnover Day 55.75
Accounts Receivable Turnover 18.81 Cash Conversion Cycle 17.15
Inventory Turnover 4.11
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
OceanaGold CorpPrice/Volume
Valuation Analysis
884'116.00
Current Price (5/dd/yy) Market Data
'
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400.0
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BAKER STEEL CAPITAL n/a PROXY 20'669'000 7.04 - 11.05.2012 Investment Advisor
AMP CAPITAL INVESTOR n/a EXCH 14'660'107 4.99 (1'119'773) 21.01.2013 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 13'382'819 4.56 - 29.04.2013 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 8'700'000 2.96 (2'300'000) 30.11.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 5'237'726 1.78 - 31.07.2012 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 3'565'116 1.21 (4'700) 28.02.2013 Bank
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 3'560'000 1.21 - 28.02.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'252'300 1.11 43'200 31.03.2013 Investment Advisor
NEW ZEALAND CENTRAL n/a PROXY 2'703'536 0.92 - 11.05.2012 Government
BLACKROCK n/a ULT-AGG 2'642'407 0.9 6'133 26.04.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 1'899'573 0.65 (547'087) 29.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'392'118 0.47 44'200 31.03.2013 Investment Advisor
BOND STREET CUSTODIA n/a PROXY 1'284'229 0.44 - 11.05.2012 Other
YANDAL INVESTMENTS P n/a PROXY 1'123'653 0.38 - 11.05.2012 Investment Advisor
INTERNATIONAL MINING n/a SEDI 1'097'008 0.37 10'000 30.12.2012 Other
ASKEW JAMES EDWARD n/a EXCH 1'087'008 0.37 48'360 07.02.2012 n/a
SFB INVESTMENTS PTY n/a PROXY 1'000'000 0.34 - 11.05.2012 Other
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 964'068 0.33 890'327 28.02.2013 Investment Advisor
DEN DUYTS CORP & ASS n/a PROXY 922'855 0.31 - 11.05.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 900'000 0.31 - 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
GMP ANDREW MIKITCHOOK buy 5 M 3 12 month 30.04.2013
BMO Capital Markets BRIAN QUAST outperform 5 M 3 Not Provided 29.04.2013
Macquarie MICHAEL SIPERCO outperform 5 M 3 12 month 25.04.2013
Cormark Securities Inc. MIKE KOZAK buy 5 M 3 12 month 22.04.2013
Forsyth Barr ANDREW HARVEY-GREEN buy 5 M 3 12 month 17.02.2013
Holdings By:
OceanaGold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Medusa Mining Limited is a gold exploration and mining Company. The Company
has exploration projects located in Western Australia and the Philippines along
with mining leases in Tasmania.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (11.10.2012) 6.70
52-Week Low (03.05.2013) 2.54
Daily Volume
2.86
52-Week High % Change -57.31% Dividend Yield 0.72
52-Week Low % Change 12.60% Beta 1.02
% 52 Week Price Range High/Low 8.89% Equity Float 168.43
Shares Out 31.12.2012 188.9 Short Int 3.47
540.27 1 Yr Total Return -46.36%
Total Debt 0.00 YTD Return -47.33%
Preferred Stock 0.0 Adjusted BETA 1.022
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 12.47 Consensus Rating 4.400
Enterprise Value 533.81
Average Volume 5 Day 2'066'285
MML AU EQUITY YTD Change - Average Volume 30 Day 1'775'388
MML AU EQUITY YTD % CHANGE - Average Volume 3 Month 1'591'940
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
15.8 42.6 93.9 148.7 80.8 - - 112.9 271.1 - -
9.93x 5.99x 6.25x 8.51x 11.40x - - 4.74x 1.63x - -
4.6 30.4 73.0 120.2 57.6 - - 77.2 202.6 - -
34.16x 8.41x 8.04x 10.54x 16.00x - - 6.92x 2.64x - -
(1.2) 28.5 65.8 110.4 49.2 - - 66.2 184.1 - -
- 8.88x 8.74x 12.02x 18.94x - - 7.02x 3.02x - -
EBITDA 57.59 Long-Term Rating Date -
EBIT 47.69 Long-Term Rating -
Operating Margin 59.02% Long-Term Outlook -
Pretax Margin 59.50% Short-Term Rating Date -
Return on Assets 16.13% Short-Term Rating -
Return on Common Equity 16.84%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -0.14
Gross Margin 74.3% Total Debt/EBITDA 0.00
EBITDA Margin 69.4%
EBIT Margin 56.7% Total Debt/Equity 0.0%
Net Income Margin 60.9% Total Debt/Capital 0.0%
Asset Turnover 0.28
Current Ratio 5.30 Net Fixed Asset Turnover 0.37
Quick Ratio 0.79 Accounts receivable turnover-days 194.30
Debt to Assets 0.00% Inventory Days 152.17
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 136.57
Accounts Receivable Turnover 1.88 Cash Conversion Cycle -
Inventory Turnover 2.41
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Medusa Mining LtdPrice/Volume
Valuation Analysis
1'477'546.00
Current Price (5/dd/yy) Market Data
'
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20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
M&G INVESTMENT MANAG n/a EXCH 20'602'900 10.91 (1'760'000) 18.04.2013 Investment Advisor
VANGUARD GROUP INC n/a EXCH 19'455'000 10.3 (2'045'000) 22.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 15'309'037 8.1 1'902'381 29.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 14'850'063 7.86 (2'760'620) 19.04.2013 Investment Advisor
UCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 4'183'483 2.21 887'915 31.03.2013 Investment Advisor
DAVIS GEOFFREY JOHN n/a Co File 4'052'750 2.15 - 29.08.2012 n/a
BLACKROCK n/a ULT-AGG 3'928'721 2.08 (989) 26.04.2013 Investment Advisor
FORTY TRADERS LTD n/a Co File 3'660'631 1.94 - 17.09.2012 Unclassified
GOODFELLOW WILLIAM D n/a Co File 3'210'425 1.7 - 17.09.2012 n/a
CEDARDALE HOLDINGS P n/a Co File 3'187'673 1.69 - 17.09.2012 Unclassified
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 2'613'520 1.38 - 30.09.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 2'000'000 1.06 - 28.02.2013 Investment Advisor
YANDAL INVESTMENTS P n/a Co File 2'000'000 1.06 - 17.09.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 1'750'000 0.93 - 31.12.2012 Investment Advisor
BANQUE DE LUXEMBOURG Multiple Portfolios MF-AGG 1'600'000 0.85 - 28.02.2013 Investment Advisor
AFDAL SAMUEL G n/a Co File 1'450'000 0.77 - 30.06.2012 n/a
OLD MUTUAL n/a ULT-AGG 1'448'400 0.77 (31'235) 28.02.2013 Unclassified
DANIEL ROY PHILIP n/a Co File 1'425'000 0.75 - 30.06.2012 n/a
UCA AG n/a Co File 1'300'000 0.69 - 17.09.2012 Investment Advisor
BARING ASSET MANAGEM Multiple Portfolios MF-AGG 1'166'975 0.62 (46'992) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets STEUART MCINTYRE sector perform 3 M 5 12 month 30.04.2013
Deutsche Bank CHRIS TERRY buy 5 M 5 12 month 29.04.2013
Goldman Sachs PAUL HISSEY buy/attractive 5 M 4 12 month 24.04.2013
Morgan Stanley BRENDAN FITZPATRICK Overwt/In-Line 5 M 6 12 month 22.04.2013
Ord Minnett DAVID BRENNAN buy 5 M 6 Not Provided 18.04.2013
Blackswan Equities Ltd RHYS BRADLEY buy 5 N 7 12 month 01.03.2013
Cantor Fitzgerald ASA BRIDLE buy 5 M #N/A N/A Not Provided 27.02.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 17.01.2013
Holdings By:
Medusa Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Dundee Precious Metals Inc. acquires, explores, and develops gold mining
properties. The Company owns interests in mineral properties in Armenia,
Bulgaria, Canada, and Serbia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 9.94
52-Week Low (17.04.2013) 5.45
Daily Volume
5.68
52-Week High % Change -42.86% Dividend Yield -
52-Week Low % Change 4.22% Beta 1.39
% 52 Week Price Range High/Low 5.12% Equity Float 94.21
Shares Out 30.04.2013 125.7 Short Int 23.96
713.93 1 Yr Total Return -17.08%
Total Debt 81.77 YTD Return -32.94%
Preferred Stock 0.0 Adjusted BETA 1.386
Minority Interest 7.0 Analyst Recs 9
Cash and Equivalents 123.36 Consensus Rating 4.889
Enterprise Value 679.35
Average Volume 5 Day 263'143
DPM CN EQUITY YTD Change - Average Volume 30 Day 442'211
DPM CN EQUITY YTD % CHANGE - Average Volume 3 Month 597'710
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
105.1 137.6 202.0 338.5 384.7 336.3 385.5 461.2 530.8 103.0 117.0
0.65x 2.15x 5.56x 2.84x 2.68x 11.75x 10.23x 1.36x 1.20x - -
(36.2) 16.4 - - - 35.1 16.6 187.8 255.7 - -
- 18.00x - - - 0.00x 0.00x 3.62x 2.66x - -
(79.2) 5.1 22.9 86.1 54.4 85.8 54.5 114.4 140.0 24.8 31.9
- 44.88x 49.37x 13.48x 21.72x 13.52x 21.68x 7.97x 7.07x 7.00x 6.84x
EBITDA - Long-Term Rating Date -
EBIT 76.66 Long-Term Rating -
Operating Margin 19.93% Long-Term Outlook -
Pretax Margin 12.91% Short-Term Rating Date -
Return on Assets 5.73% Short-Term Rating -
Return on Common Equity 7.51%
Return on Capital 4.04% EBITDA/Interest Exp. -
Asset Turnover 0.41% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 40.8% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 19.9% Total Debt/Equity 10.9%
Net Income Margin 14.1% Total Debt/Capital 9.8%
Asset Turnover 0.41
Current Ratio 3.10 Net Fixed Asset Turnover 0.70
Quick Ratio 2.36 Accounts receivable turnover-days 47.87
Debt to Assets 8.41% Inventory Days 79.30
Tot Debt to Common Equity 10.94% Accounts Payable Turnover Day 70.69
Accounts Receivable Turnover 7.65 Cash Conversion Cycle 56.62
Inventory Turnover 4.62
Fiscal Year Ended
Dundee Precious Metals IncPrice/Volume
Valuation Analysis
398'375.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DUNDEE CORP #N/A N/A SEDI 30'629'607 24.37 35'000 26.04.2013 Holding Company
US GLOBAL INVESTORS n/a Research 8'442'571 6.72 - 28.02.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 7'720'627 6.14 (34'836) 29.04.2013 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 5'331'900 4.24 - 31.12.2012 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 4'734'500 3.77 - 28.02.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 4'514'449 3.59 4'124'249 31.12.2012 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 3'999'265 3.18 (378'400) 28.02.2013 Bank
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 3'634'800 2.89 (2'100) 31.01.2013 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 3'394'800 2.7 1'314'000 31.12.2012 Investment Advisor
FIERA CAPITAL CORPOR Multiple Portfolios MF-AGG 2'655'547 2.11 (52'200) 31.01.2013 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 2'369'196 1.89 (50'000) 30.09.2012 Hedge Fund Manager
NATCAN INVESTMENT MA Multiple Portfolios MF-AGG 1'598'155 1.27 4'773 28.02.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 1'423'900 1.13 10'000 31.12.2012 Hedge Fund Manager
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 1'163'346 0.93 43'784 31.03.2013 Hedge Fund Manager
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 947'401 0.75 - 31.07.2012 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 771'700 0.61 (19'200) 31.01.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 761'500 0.61 - 28.09.2012 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 667'600 0.53 (96'700) 31.12.2012 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 571'632 0.45 227'172 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 561'141 0.45 6'300 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON buy 5 M 9 Not Provided 26.04.2013
Scotia Capital LEILY OMOUMI sector outperform 5 M 11 12 month 23.04.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 10 12 month 22.04.2013
Cormark Securities Inc. MIKE KOZAK top pick 5 M 14 12 month 22.04.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M 10 Not Provided 19.04.2013
Dundee Securities Corp JOSH WOLFSON not rated #N/A N/A M #N/A N/A Not Provided 19.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 16.04.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 M 11 Not Provided 11.04.2013
GMP GEORGE V ALBINO buy 5 M 15 12 month 04.03.2013
Paradigm Capital Inc DON MACLEAN buy 5 N 13 12 month 03.12.2012
Holdings By:
Dundee Precious Metals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Rio Alto Mining Limited is a mineral exploration company. The Company currently
is focusing on the development of La Arena gold / copper project, located in
north central Peru.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (02.11.2012) 6.00
52-Week Low (17.04.2013) 3.37
Daily Volume
3.59
52-Week High % Change -40.17% Dividend Yield 0.00
52-Week Low % Change 6.53% Beta 1.08
% 52 Week Price Range High/Low 8.37% Equity Float 160.58
Shares Out 30.04.2013 175.9 Short Int 1.14
631.43 1 Yr Total Return -10.03%
Total Debt 3.26 YTD Return -29.47%
Preferred Stock 0.0 Adjusted BETA 1.077
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 38.61 Consensus Rating 4.200
Enterprise Value 596.07
Average Volume 5 Day 521'296
RIO CN EQUITY YTD Change - Average Volume 30 Day 752'855
RIO CN EQUITY YTD % CHANGE - Average Volume 3 Month 745'182
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.05.2007 31.05.2008 31.05.2009 31.05.2010 31.05.2011 05/yy 12/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
- 0.0 0.0 0.0 0.0 0.0 317.2 - 326.4 - -
- - - - - #DIV/0! 9.56x - 1.83x - -
(1.0) (2.3) (1.5) (3.9) (8.0) (5.1) 173.5 191.0 147.0 - -
- - - - - 0.00x 4.94x 3.12x 4.05x - -
(1.0) (1.9) (1.5) (12.6) (8.0) (4.0) 100.7 - 84.8 - -
- - - - - 0.00x 9.23x 6.81x 7.07x 9.45x 8.31x
EBITDA 173.12 Long-Term Rating Date -
EBIT 151.44 Long-Term Rating -
Operating Margin 47.85% Long-Term Outlook -
Pretax Margin 48.82% Short-Term Rating Date -
Return on Assets 38.61% Short-Term Rating -
Return on Common Equity 59.31%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 1.22% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -0.20
Gross Margin 62.4% Total Debt/EBITDA 0.02
EBITDA Margin 54.7%
EBIT Margin 47.9% Total Debt/Equity 1.4%
Net Income Margin 31.7% Total Debt/Capital 1.4%
Asset Turnover 1.22
Current Ratio 1.61 Net Fixed Asset Turnover 1.91
Quick Ratio 0.74 Accounts receivable turnover-days 26.87
Debt to Assets 0.92% Inventory Days 50.64
Tot Debt to Common Equity 1.43% Accounts Payable Turnover Day 114.13
Accounts Receivable Turnover 21.59 Cash Conversion Cycle -36.68
Inventory Turnover 11.45
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Rio Alto Mining LtdPrice/Volume
Valuation Analysis
674'439.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA n/a 13G 28'000'700 15.92 - 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 14'940'000 8.49 8'960'000 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 12'816'519 7.29 (57'732) 29.04.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 7'989'300 4.54 102'600 31.01.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 7'082'953 4.03 - 31.12.2012 Bank
BLACKROCK n/a ULT-AGG 6'635'369 3.77 3'918'649 26.04.2013 Investment Advisor
AUSCAN ASSETS LIMITE n/a SEDI 4'969'651 2.83 50'000 07.12.2012 Other
NORWICH ROGER n/a SEDI 4'734'195 2.69 265'000 25.11.2011 n/a
HAWKSHAW ANTHONY GRA n/a SEDI 3'000'000 1.71 - 19.10.2011 n/a
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 2'360'802 1.34 2'360'802 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 1'720'000 0.98 500'000 28.02.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 1'248'400 0.71 978'500 31.12.2012 Investment Advisor
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 1'076'700 0.61 1'076'700 31.03.2013 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 1'051'000 0.6 201'000 31.12.2012 Investment Advisor
SOLDI JAIME n/a SEDI 1'028'288 0.58 126'000 02.01.2013 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 759'587 0.43 39'604 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 755'020 0.43 - 28.02.2013 Investment Advisor
ZEITLER KLAUS M n/a SEDI 750'000 0.43 - 22.11.2011 n/a
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 675'600 0.38 - 28.02.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 597'190 0.34 591'190 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities MIKE BANDROWSKI buy 5 M 7 12 month 29.04.2013
Kallpa Securities SAB HUMBERTO LEON overweight 5 M 5 12 month 29.04.2013
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 4 12 month 22.04.2013
CIBC World Markets MATTHEW GIBSON sector outperform 5 M 7 Not Provided 17.04.2013
Desjardins Securities ADAM MELNYK hold 3 M 5 12 month 17.04.2013
GMP GEORGE V ALBINO buy 5 M 8 12 month 17.04.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 6 Not Provided 16.04.2013
Scotia Capital MARK TURNER sector perform 3 M 5 12 month 08.04.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 7 12 month 08.04.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 17.01.2013
Holdings By:
Rio Alto Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Aurizon Mines Ltd. is a gold mining company. The Company's operations and
exploration activities are located in the Abitibi region of north-western
Quebec, Canada. Aurizon operates and owns an interest in the Beaufor Mine,
the Sleeping Giant Mine, and the Casa Berardi property.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.05.2012) 5.42
52-Week Low (24.12.2012) 3.19
Daily Volume
3.74
52-Week High % Change -31.00% Dividend Yield -
52-Week Low % Change 17.24% Beta 0.95
% 52 Week Price Range High/Low 24.66% Equity Float 136.32
Shares Out 30.04.2013 164.7 Short Int 2.40
615.85 1 Yr Total Return -25.65%
Total Debt 0.00 YTD Return 7.47%
Preferred Stock 0.0 Adjusted BETA 0.955
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 204.71 Consensus Rating 3.000
Enterprise Value 415.33
Average Volume 5 Day 1'370'435
AZK US EQUITY YTD Change - Average Volume 30 Day 915'023
AZK US EQUITY YTD % CHANGE - Average Volume 3 Month 939'224
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
144.5 175.6 178.7 260.0 223.6 260.0 223.6 209.3 266.3 40.2 46.6
4.07x 3.65x 5.82x 2.31x 1.61x 11.47x 9.66x - - - -
53.5 87.5 69.8 124.9 92.2 124.9 92.2 94.0 139.0 - -
10.98x 7.32x 14.90x 4.81x 3.90x 4.81x 3.90x 4.42x 2.99x - -
4.9 36.7 17.2 43.9 31.8 43.9 31.8 27.9 51.1 3.2 3.4
- - - - - 0.00x 0.00x 25.44x 14.77x 27.48x -
EBITDA 92.23 Long-Term Rating Date -
EBIT 54.50 Long-Term Rating -
Operating Margin 24.38% Long-Term Outlook -
Pretax Margin 25.08% Short-Term Rating Date -
Return on Assets 7.33% Short-Term Rating -
Return on Common Equity 9.28%
Return on Capital 9.42% EBITDA/Interest Exp. 107.74
Asset Turnover 0.51% (EBITDA-Capex)/Interest Exp. 19.32
Net Debt/EBITDA -2.22
Gross Margin 41.0% Total Debt/EBITDA 0.00
EBITDA Margin 41.3%
EBIT Margin 24.4% Total Debt/Equity 0.0%
Net Income Margin 14.2% Total Debt/Capital 0.0%
Asset Turnover 0.51
Current Ratio 7.30 Net Fixed Asset Turnover 1.18
Quick Ratio 6.49 Accounts receivable turnover-days 12.74
Debt to Assets 0.00% Inventory Days 40.24
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 38.79
Accounts Receivable Turnover 28.73 Cash Conversion Cycle 14.19
Inventory Turnover 9.10
Fiscal Year Ended
Aurizon Mines LtdPrice/Volume
Valuation Analysis
785'007.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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50.0
100.0
150.0
200.0
250.0
300.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALAMOS GOLD INC n/a 13D 26'507'283 16.11 - 19.03.2013 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 22'005'946 13.37 - 29.04.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 7'000'000 4.25 - 31.12.2012 Investment Advisor
MONTRUSCO BOLTON INV MONTRUSCO BOLTON INV 13F 6'138'783 3.73 408'275 31.12.2012 Investment Advisor
GCIC LTD/CANADA GOODMAN & COMPANY IN 13F 5'947'500 3.61 (6'022'500) 31.12.2012 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 5'751'260 3.49 4'054'435 31.12.2012 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 4'806'500 2.92 452'400 31.12.2012 Hedge Fund Manager
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 4'430'833 2.69 1'029'681 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'678'543 2.24 (1'265'127) 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 3'537'956 2.15 136'509 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'931'135 1.78 101'700 31.12.2012 Pension Fund (ERISA)
FMR LLC n/a ULT-AGG 2'190'600 1.33 (176'300) 31.12.2012 Investment Advisor
TOUCHSTONE ADVISORS Multiple Portfolios MF-AGG 1'655'218 1.01 1'655'218 28.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'539'910 0.94 - 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'436'486 0.87 3'442 26.04.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'400'000 0.85 - 31.12.2012 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 1'289'081 0.78 1'097'036 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 1'264'143 0.77 1'264'143 31.03.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 1'251'251 0.76 (73'649) 31.12.2012 Hedge Fund Manager
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'121'404 0.68 (1'183'046) 31.03.2013 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT neutral 3 M 5 12 month 29.04.2013
BMO Capital Markets BRIAN QUAST underperform 1 M 4 Not Provided 14.04.2013
National Bank Financial PAOLO LOSTRITTO tender #N/A N/A M 5 12 month 05.04.2013
Desjardins Securities ADAM MELNYK tender #N/A N/A M 4 12 month 20.03.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 15.03.2013
Mackie Research Capital Corp. RYAN HANLEY tender #N/A N/A M 5 Not Provided 05.03.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 5 12 month 04.03.2013
Raymond James FORBES GEMMELL Under Review #N/A N/A M #N/A N/A Not Provided 05.02.2013
CIBC World Markets COSMOS CHIU restricted #N/A N/A M #N/A N/A Not Provided 25.01.2013
Loewen, Ondaatje, McCutcheon Ltd MICHAEL G FOWLER buy 5 M 6 12 month 23.01.2013
Scotia Capital OVAIS HABIB restricted #N/A N/A M #N/A N/A Not Provided 21.01.2013
Holdings By:
Aurizon Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Endeavour Silver Corp. is a small-cap silver mining company focused on the
growth of its silver production, reserves and resources in Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 10.73
52-Week Low (17.04.2013) 4.31
Daily Volume
4.58
52-Week High % Change -57.32% Dividend Yield -
52-Week Low % Change 6.26% Beta 1.23
% 52 Week Price Range High/Low 4.21% Equity Float 98.17
Shares Out 30.04.2013 99.7 Short Int 1.24
456.57 1 Yr Total Return -47.66%
Total Debt 9.00 YTD Return -41.95%
Preferred Stock 0.0 Adjusted BETA 1.229
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 27.14 Consensus Rating 4.750
Enterprise Value 458.34
Average Volume 5 Day 1'168'408
EXK US EQUITY YTD Change - Average Volume 30 Day 1'433'847
EXK US EQUITY YTD % CHANGE - Average Volume 3 Month 1'440'981
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
39.3 50.8 86.5 128.0 208.1 128.0 208.1 243.8 279.8 - -
1.18x 3.98x 5.80x 5.79x 3.68x 21.01x 14.48x - - - -
(4.5) 11.3 30.7 64.8 89.8 64.8 89.8 87.5 130.1 28.8 30.5
- 17.91x 16.36x 11.43x 8.53x 11.43x 8.53x 5.24x 3.52x - -
(18.0) (1.9) (20.4) 18.8 42.1 18.8 42.1 33.9 59.8 - -
- - - - - 0.00x 0.00x 11.25x 7.66x 14.31x 11.31x
EBITDA 89.81 Long-Term Rating Date -
EBIT 59.85 Long-Term Rating -
Operating Margin 28.76% Long-Term Outlook -
Pretax Margin 28.88% Short-Term Rating Date -
Return on Assets 9.33% Short-Term Rating -
Return on Common Equity 12.72%
Return on Capital 12.20% EBITDA/Interest Exp. 185.55
Asset Turnover 0.58% (EBITDA-Capex)/Interest Exp. 48.70
Net Debt/EBITDA 0.02
Gross Margin 41.6% Total Debt/EBITDA 0.38
EBITDA Margin 38.3%
EBIT Margin 23.6% Total Debt/Equity 2.6%
Net Income Margin 20.2% Total Debt/Capital 2.6%
Asset Turnover 0.58
Current Ratio 2.07 Net Fixed Asset Turnover 1.01
Quick Ratio 1.00 Accounts receivable turnover-days 29.04
Debt to Assets 1.88% Inventory Days 91.04
Tot Debt to Common Equity 2.65% Accounts Payable Turnover Day 52.07
Accounts Receivable Turnover 12.57 Cash Conversion Cycle 75.06
Inventory Turnover 4.01
Fiscal Year Ended
Endeavour Silver CorpPrice/Volume
Valuation Analysis
1'264'116.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 6'953'989 6.98 72'847 29.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 4'503'915 4.52 (646'415) 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 3'759'799 3.77 (53'515) 31.12.2012 Hedge Fund Manager
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 2'894'100 2.9 2'894'100 31.12.2012 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 1'502'600 1.51 95'000 31.03.2013 Investment Advisor
POLAR SECURITIES INC POLAR SECURITIES INC 13F 1'373'500 1.38 1'373'500 31.12.2012 Hedge Fund Manager
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'159'615 1.16 115'522 31.12.2012 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 1'110'237 1.11 (16'700) 31.03.2013 Investment Advisor
COOKE BRADFORD JAMES n/a SEDI 1'085'337 1.09 (200'000) 22.04.2013 n/a
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'042'960 1.05 200'400 31.12.2012 Pension Fund (ERISA)
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 922'750 0.93 (71'300) 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 900'000 0.9 400'000 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 830'979 0.83 (576'400) 31.12.2012 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 811'200 0.81 - 31.12.2012 Investment Advisor
BROOKFIELD ASSET MGM BROOKFIELD ASSET MAN 13F 761'586 0.76 761'586 31.12.2012 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 756'563 0.76 (981'867) 31.12.2012 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 579'250 0.58 - 28.09.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 547'823 0.55 4'210 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 499'972 0.5 51'503 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 491'800 0.49 (57'000) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP market perform 3 M 6 Not Provided 29.04.2013
Raymond James CHRIS THOMPSON outperform 5 M 9 12 month 24.04.2013
Haywood Securities Inc. BENJAMIN ASUNCION buy 5 M 8 Not Provided 16.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 16.04.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 N 9 Not Provided 11.04.2013
Salman Partners ASH GUGLANI buy 5 M 10 12 month 08.04.2013
GMP CHELSEA HAMILTON buy 5 M 10 12 month 08.04.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 9 12 month 08.04.2013
Holdings By:
Endeavour Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Continental Gold Ltd. is an advanced-stage exploration company. The Company has
a portfolio of gold projects located in established mineral belts in Colombia,
South America. Continental Gold's priorities include advanced exploration and
definition drilling programs at its Buritica gold project and phase-one drilling
at its Berlin project.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (12.11.2012) 10.03
52-Week Low (18.04.2013) 3.78
Daily Volume
4.38
52-Week High % Change -56.33% Dividend Yield 0.00
52-Week Low % Change 15.87% Beta 1.17
% 52 Week Price Range High/Low 9.60% Equity Float 103.24
Shares Out 30.04.2013 126.4 Short Int 0.27
553.83 1 Yr Total Return -32.09%
Total Debt 0.00 YTD Return -50.51%
Preferred Stock 0.0 Adjusted BETA 1.174
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 83.89 Consensus Rating 4.000
Enterprise Value 447.18
Average Volume 5 Day 475'276
CNL CN EQUITY YTD Change - Average Volume 30 Day 729'469
CNL CN EQUITY YTD % CHANGE - Average Volume 3 Month 652'307
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 - 0.0 0.0 14.0 14.0 - -
- - - - - #DIV/0! #DIV/0! - - - -
(0.6) (4.2) (10.7) (11.8) - (8.8) (7.8) (9.6) (9.6) - -
- - - - - 0.00x 0.00x - - - -
(0.6) (4.1) (119.1) 18.2 (7.9) 18.2 (7.9) (9.6) (12.8) - -
- - - 38.93x - 38.93x 0.00x - - - -
EBITDA -11.77 Long-Term Rating Date -
EBIT -12.17 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -4.13% Short-Term Rating -
Return on Common Equity -4.55%
Return on Capital - EBITDA/Interest Exp. -141.81
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -569.05
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 8.87 Net Fixed Asset Turnover 0.00
Quick Ratio 8.87 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Continental Gold LtdPrice/Volume
Valuation Analysis
365'537.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GCIC LTD/CANADA n/a Co File 17'893'800 14.17 116'400 31.12.2012 Investment Advisor
WELLINGTON MANAGEMEN n/a Co File 16'205'564 12.84 1'985'981 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 8'183'107 6.48 (36'816) 29.04.2013 Investment Advisor
BULLET HOLDING CORP n/a SEDI 8'024'456 6.36 (200'000) 05.10.2012 Holding Company
COASTAL FINANCING CO n/a SEDI 5'786'124 4.58 (250'000) 21.12.2012 Other
ROYAL BANK OF CANADA n/a ULT-AGG 4'840'118 3.83 109'700 28.02.2013 Bank
REINDEER CAPITAL LTD n/a SEDI 3'668'490 2.91 (250'000) 21.12.2012 Other
SPROTT INC Multiple Portfolios MF-AGG 2'582'500 2.05 485'700 31.12.2012 Hedge Fund Manager
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 2'471'400 1.96 - 31.01.2013 Investment Advisor
EXPERT FUNDING CORP n/a SEDI 2'316'327 1.83 (35'000) 02.11.2012 Corporation
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 2'293'942 1.82 353'535 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 2'216'400 1.76 (771'400) 31.03.2013 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 2'141'942 1.7 (188'058) 29.03.2013 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 1'523'400 1.21 1'523'400 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'334'000 1.06 254'000 31.01.2013 Investment Advisor
SUSSMAN ARI B n/a SEDI 1'149'151 0.91 10'606 21.08.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'074'746 0.85 660'800 31.03.2013 Investment Advisor
FIRST CANADIAN MUTUA Multiple Portfolios MF-AGG 1'073'739 0.85 58'800 29.04.2013 Investment Advisor
PENTAGON PROPERTIES n/a SEDI 1'025'000 0.81 500'000 23.04.2012 Other
QUANTEX AG Multiple Portfolios MF-AGG 900'000 0.71 90'000 29.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities JAMIE SPRATT speculative buy 4 M 14 12 month 29.04.2013
Stifel CRAIG P STANLEY hold 3 M #N/A N/A Not Provided 26.04.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 9 12 month 24.04.2013
TD Securities DANIEL EARLE speculative buy 4 M 10 12 month 23.04.2013
Raymond James GARY J BASCHUK Under Review #N/A N/A M #N/A N/A Not Provided 18.04.2013
GMP GEORGE V ALBINO buy 5 M 15 12 month 11.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 11 12 month 07.01.2013
Interbolsa SA GABRIEL BAYONA speculative buy 4 M 13 Not Provided 01.10.2012
Holdings By:
Continental Gold Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Rubicon Minerals Corporation is a mineral exploration company. The Company
explores for gold deposits in the Red Lake gold camp of Canada, as well as
Nevada and Alaska.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (17.09.2012) 3.80
52-Week Low (18.04.2013) 1.44
Daily Volume
1.66
52-Week High % Change -56.32% Dividend Yield 0.00
52-Week Low % Change 15.28% Beta 1.20
% 52 Week Price Range High/Low 9.32% Equity Float 274.32
Shares Out 30.04.2013 288.5 Short Int 2.75
478.86 1 Yr Total Return -45.21%
Total Debt 0.44 YTD Return -34.90%
Preferred Stock 0.0 Adjusted BETA 1.204
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 171.99 Consensus Rating 4.250
Enterprise Value 307.30
Average Volume 5 Day 416'450
RMX CN EQUITY YTD Change - Average Volume 30 Day 882'984
RMX CN EQUITY YTD % CHANGE - Average Volume 3 Month 926'613
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.4) (4.6) (25.4) (21.6) (11.6) (21.6) (11.6) - - - -
- - - - - 0.00x 0.00x - - - -
(2.4) (0.6) (25.5) (21.4) (10.4) (21.4) (10.4) - - - -
- - - - - 0.00x 0.00x - 8.30x - 1660.00x
EBITDA -11.56 Long-Term Rating Date -
EBIT -11.63 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -2.73% Short-Term Rating -
Return on Common Equity -2.85%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -0.04
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.1%
Net Income Margin - Total Debt/Capital 0.1%
Asset Turnover 0.00
Current Ratio 10.32 Net Fixed Asset Turnover 0.00
Quick Ratio 10.29 Accounts receivable turnover-days -
Debt to Assets 0.09% Inventory Days -
Tot Debt to Common Equity 0.10% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Rubicon Minerals CorpPrice/Volume
Valuation Analysis
627'085.00
Current Price (5/dd/yy) Market Data
'
-
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 22'735'867 7.88 12'173'845 31.12.2012 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 13'783'100 4.78 423'700 31.12.2012 Investment Advisor
AGNICO-EAGLE MINES L n/a 13D 10'671'827 3.7 (11'000'000) 01.06.2012 Corporation
GREYWOLF CAPITAL MAN GREYWOLF CAPITAL MAN 13F 9'125'000 3.16 4'155'700 31.12.2012 Hedge Fund Manager
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 7'263'300 2.52 - 31.12.2012 Hedge Fund Manager
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 4'838'017 1.68 639'100 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 3'656'352 1.27 705'000 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 3'244'428 1.12 138'068 31.12.2012 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 2'695'400 0.93 - 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 2'508'962 0.87 6'008 26.04.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'412'466 0.84 122'900 31.12.2012 Pension Fund (ERISA)
BRIDGER MANAGEMENT L BRIDGER MANAGEMENT L 13F 2'170'000 0.75 - 31.12.2012 Hedge Fund Manager
CAPITAL TACTICS ADVI CAPITAL TACTICS ADVI 13F 2'028'610 0.7 627'918 31.12.2012 Hedge Fund Manager
NORGES BANK NORGES BANK 13F 1'560'601 0.54 (247'212) 31.12.2012 Government
ROYAL BANK OF CANADA n/a ULT-AGG 1'537'646 0.53 (3'356'720) 31.12.2012 Bank
ADAMSON DAVID W n/a SEDI 1'535'189 0.53 107'000 04.02.2013 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'503'175 0.52 41'600 31.03.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 1'401'817 0.49 - 31.12.2012 Corporation
D E SHAW & COMPANY I D E SHAW & CO 13F 1'392'537 0.48 (127'000) 31.12.2012 Hedge Fund Manager
SHARE SICAV Multiple Portfolios MF-AGG 1'244'300 0.43 22'000 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities DANIEL EARLE speculative buy 4 M 4 12 month 23.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 3 Not Provided 15.04.2013
GMP GEORGE V ALBINO buy 5 M 8 12 month 18.03.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 6 Not Provided 29.01.2013
Holdings By:
Rubicon Minerals Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Silvercorp Metals Inc. acquires, explores, and develops mineral properties in
China. The Company is developing its Ying Silver project located in the
People's Republic of China.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (14.09.2012) 6.86
52-Week Low (17.04.2013) 2.55
Daily Volume
2.85
52-Week High % Change -58.45% Dividend Yield -
52-Week Low % Change 11.76% Beta 1.01
% 52 Week Price Range High/Low 6.96% Equity Float 164.96
Shares Out 30.04.2013 170.8 Short Int 5.03
486.73 1 Yr Total Return -52.35%
Total Debt 0.00 YTD Return -44.00%
Preferred Stock 0.0 Adjusted BETA 1.015
Minority Interest 77.0 Analyst Recs 4
Cash and Equivalents 154.51 Consensus Rating 4.500
Enterprise Value 432.41
Average Volume 5 Day 767'577
SVM US EQUITY YTD Change - Average Volume 30 Day 1'314'624
SVM US EQUITY YTD % CHANGE - Average Volume 3 Month 1'445'206
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
108.4 83.5 107.2 167.3 238.0 236.1 192.8 201.7 256.0 - -
10.33x 3.67x 9.86x 14.29x 4.61x 25.98x 19.96x 2.45x - - -
76.7 40.4 66.4 110.3 155.3 158.2 102.5 93.2 141.0 - -
14.60x 7.59x 15.92x 21.68x 7.06x 6.33x 8.01x 4.64x 3.07x - -
59.9 (16.0) 38.5 67.7 73.8 76.2 30.6 29.5 53.8 - -
- - - - - 0.00x 0.00x 13.38x 9.73x 8.64x 6.87x
EBITDA 155.30 Long-Term Rating Date -
EBIT 141.60 Long-Term Rating -
Operating Margin 59.50% Long-Term Outlook -
Pretax Margin 61.72% Short-Term Rating Date -
Return on Assets 5.24% Short-Term Rating -
Return on Common Equity 7.01%
Return on Capital 9.37% EBITDA/Interest Exp. 1652.13
Asset Turnover 0.33% (EBITDA-Capex)/Interest Exp. 900.45
Net Debt/EBITDA -1.27
Gross Margin 74.3% Total Debt/EBITDA 0.00
EBITDA Margin 53.1%
EBIT Margin 45.1% Total Debt/Equity 0.0%
Net Income Margin 31.0% Total Debt/Capital 0.0%
Asset Turnover 0.33
Current Ratio 4.48 Net Fixed Asset Turnover 0.54
Quick Ratio 4.16 Accounts receivable turnover-days 11.13
Debt to Assets 0.00% Inventory Days 38.51
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 156.53
Accounts Receivable Turnover 32.88 Cash Conversion Cycle -60.19
Inventory Turnover 9.50
Fiscal Year Ended
Silvercorp Metals IncPrice/Volume
Valuation Analysis
821'110.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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50.0
100.0
150.0
200.0
250.0
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 17'488'211 10.24 438'002 29.04.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 4'484'200 2.63 (1'325'850) 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 4'205'000 2.46 237'300 31.12.2012 Hedge Fund Manager
FENG RUI n/a SEDI 4'169'500 2.44 30'000 22.01.2013 n/a
AXA n/a ULT-AGG 2'259'386 1.32 - 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 2'210'787 1.29 211'112 31.12.2012 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 1'697'900 0.99 28'800 31.12.2012 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'599'960 0.94 - 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'393'690 0.82 (240'000) 31.12.2012 Pension Fund (ERISA)
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 1'333'300 0.78 25'000 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'105'313 0.65 141'100 31.12.2012 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 1'083'600 0.63 - 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 976'053 0.57 (301'811) 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 916'580 0.54 43'100 31.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 888'000 0.52 - 28.02.2013 Investment Advisor
UBS n/a ULT-AGG 819'019 0.48 (517'588) 31.03.2013 Unclassified
GAO JIANGUO n/a SEDI 803'713 0.47 2'990 16.09.2011 n/a
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 781'858 0.46 (30'382) 31.12.2012 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 694'729 0.41 46'447 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 681'544 0.4 (125'875) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James BRAD HUMPHREY outperform 5 M 7 12 month 24.04.2013
Salman Partners ASH GUGLANI buy 5 M 7 12 month 17.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 5 Not Provided 15.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 09.04.2013
Knight TEAM COVERAGE strong buy 5 M 13 12 month 20.09.2011
Holdings By:
Silvercorp Metals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Evolution Mining Ltd is a gold exploration company with operations in Western
Australia. The Company owns the gold mines - Cracow, Edna May, Mt Rawdon and
Pajingo - and the Mt Carlton development project.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (23.10.2012) 2.14
52-Week Low (24.04.2013) 0.83
Daily Volume
0.955
52-Week High % Change -55.37% Dividend Yield 0.00
52-Week Low % Change 15.06% Beta 1.28
% 52 Week Price Range High/Low 12.98% Equity Float 442.71
Shares Out 31.12.2012 708.1 Short Int 22.67
676.23 1 Yr Total Return -32.98%
Total Debt 35.85 YTD Return -44.15%
Preferred Stock 0.0 Adjusted BETA 1.280
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 141.78 Consensus Rating 4.214
Enterprise Value 711.31
Average Volume 5 Day 3'972'755
EVN AU EQUITY YTD Change - Average Volume 30 Day 4'419'185
EVN AU EQUITY YTD % CHANGE - Average Volume 3 Month 3'500'106
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
- - 22.3 121.9 469.5 - - 616.5 708.3 - -
- - 13.04x 2.11x 2.00x - - 1.28x 0.97x - -
(2.3) (3.3) 2.9 29.7 190.4 - - 235.3 297.5 - -
- - 99.74x 8.65x 4.92x - - 3.02x 2.39x - -
(2.3) (3.3) 5.5 (2.3) 37.3 - - 58.0 88.6 - -
- - 41.35x - 20.77x - - 11.37x 7.70x - -
EBITDA 190.41 Long-Term Rating Date -
EBIT 95.24 Long-Term Rating -
Operating Margin 20.29% Long-Term Outlook -
Pretax Margin 14.16% Short-Term Rating Date -
Return on Assets 7.60% Short-Term Rating -
Return on Common Equity 9.11%
Return on Capital 9.13% EBITDA/Interest Exp. 27.52
Asset Turnover 0.50% (EBITDA-Capex)/Interest Exp. -3.81
Net Debt/EBITDA 0.16
Gross Margin 28.1% Total Debt/EBITDA 0.39
EBITDA Margin 33.6%
EBIT Margin 21.2% Total Debt/Equity 3.4%
Net Income Margin 7.9% Total Debt/Capital 3.3%
Asset Turnover 0.50
Current Ratio 1.60 Net Fixed Asset Turnover 0.63
Quick Ratio 1.17 Accounts receivable turnover-days 15.57
Debt to Assets 2.82% Inventory Days 40.32
Tot Debt to Common Equity 3.39% Accounts Payable Turnover Day 62.99
Accounts Receivable Turnover 23.51 Cash Conversion Cycle 6.10
Inventory Turnover 9.08
Fiscal Year Ended
Evolution Mining LtdPrice/Volume
Valuation Analysis
3'367'768.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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50.0
100.0
150.0
200.0
250.0
300.0
350.0
400.0
450.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
NEWCREST MINING LTD n/a Co File 231'082'631 32.63 - 17.09.2012 Corporation
ALLAN GRAY AUSTRALIA n/a EXCH 59'634'970 8.42 8'000'579 17.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 43'595'715 6.16 - 29.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 19'553'364 2.76 (2'500) 26.04.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 11'341'660 1.6 - 27.12.2012 Hedge Fund Manager
BANK OF AMERICA CORP n/a EXCH 8'827'967 1.25 (414'122) 30.03.2011 Investment Advisor
KLEIN JACOB n/a EXCH 5'800'000 0.82 50'000 05.02.2013 n/a
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 5'000'000 0.71 - 28.02.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 4'500'000 0.64 - 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 4'050'000 0.57 - 31.01.2013 Investment Advisor
JJ HOLDINGS (VIC) PT n/a Co File 3'552'009 0.5 - 30.08.2012 Other
FMR LLC n/a ULT-AGG 3'139'480 0.44 67'263 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 2'493'191 0.35 (20'500) 31.03.2013 Hedge Fund Manager
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'452'309 0.35 53'649 31.03.2013 Investment Advisor
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'377'918 0.34 (18'512) 30.09.2012 Investment Advisor
SHARE SICAV Multiple Portfolios MF-AGG 2'111'002 0.3 (155'000) 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 2'007'608 0.28 3'180 31.07.2012 Investment Advisor
NESTOR INVESTMENT MA Multiple Portfolios MF-AGG 1'863'899 0.26 75'000 28.02.2013 Investment Advisor
POLLOCK MURRAY G n/a EXCH 1'839'492 0.26 - 18.10.2011 n/a
MALONEY PETER JOSEPH n/a EXCH 1'379'579 0.19 - 18.10.2011 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Investec TIM GERRARD buy 5 M 1 12 month 26.04.2013
Macquarie MITCH RYAN outperform 5 M 1 12 month 26.04.2013
Goldman Sachs PAUL HISSEY neutral/attractive 3 M 1 12 month 24.04.2013
RBC Capital Markets GEOFF BREEN outperform 5 M 1 12 month 24.04.2013
JPMorgan JOSEPH KIM neutral 3 M 1 9 month 24.04.2013
BBY Limited KURT WORDEN strong buy 5 M 1 12 month 24.04.2013
Deutsche Bank CHRIS TERRY buy 5 M 1 12 month 23.04.2013
Credit Suisse MICHAEL SLIFIRSKI outperform 5 U 1 Not Provided 23.04.2013
Paterson Securities MATTHEW TRIVETT hold 3 M 1 12 month 23.04.2013
Nomura DAVID RADCLYFFE suspended coverage #N/A N/A M #N/A N/A Not Provided 12.04.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 20.02.2013
RBS Morgans JAMES WILSON outperform 5 N 2 12 month 27.11.2012
Ord Minnett DAVID BRENNAN buy 5 M #N/A N/A Not Provided 01.11.2012
Evans & Partners Pty Ltd CATHY MOISES negative 2 D #N/A N/A Not Provided 26.10.2012
Bell Potter CHRIS WHITEHEAD buy 5 M 2 12 month 06.03.2012
Hartleys PETER GRAY buy 5 M 2 Not Provided 02.02.2012
Holdings By:
Evolution Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
China Precious Metal Resources Holdings Co Ltd.through its subsidiary, mines for
precious metals.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (26.11.2012) 1.62
52-Week Low (16.07.2012) 1.08
Daily Volume
1.36
52-Week High % Change -16.05% Dividend Yield 0.00
52-Week Low % Change 25.93% Beta 0.62
% 52 Week Price Range High/Low 50.00% Equity Float 3'550.71
Shares Out 31.12.2012 4'350.7 Short Int -
5'916.99 1 Yr Total Return -0.73%
Total Debt 1'841.42 YTD Return -8.11%
Preferred Stock - Adjusted BETA 0.616
Minority Interest - Analyst Recs 3
Cash and Equivalents 100.19 Consensus Rating 5.000
Enterprise Value 7'658.21
Average Volume 5 Day 3'590'751
1194 HK EQUITY YTD Change - Average Volume 30 Day 4'936'768
1194 HK EQUITY YTD % CHANGE - Average Volume 3 Month 7'762'847
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
139.5 19.4 168.2 1'119.3 1'626.0 - - 2'082.0 2'473.7 - -
1.97x 167.09x 37.32x 5.56x 5.03x - - - - - -
(51.4) 5.1 116.1 824.5 1'110.5 - - 1'441.0 1'833.0 - -
- 639.25x 54.07x 7.55x 7.37x - - 5.31x 4.18x - -
(52.2) (29.2) 21.9 417.4 445.1 - - 654.0 796.0 - -
- - 72.08x 12.00x 12.13x - - 7.56x 7.43x - -
EBITDA 1'110.52 Long-Term Rating Date -
EBIT 841.85 Long-Term Rating -
Operating Margin 51.77% Long-Term Outlook -
Pretax Margin 40.73% Short-Term Rating Date -
Return on Assets 5.76% Short-Term Rating -
Return on Common Equity 9.71%
Return on Capital - EBITDA/Interest Exp. 6.19
Asset Turnover 0.21% (EBITDA-Capex)/Interest Exp. 0.11
Net Debt/EBITDA 1.57
Gross Margin 63.9% Total Debt/EBITDA 1.66
EBITDA Margin 68.3%
EBIT Margin 51.8% Total Debt/Equity 32.9%
Net Income Margin 27.4% Total Debt/Capital 24.7%
Asset Turnover 0.21
Current Ratio 0.47 Net Fixed Asset Turnover 1.11
Quick Ratio 0.30 Accounts receivable turnover-days 34.07
Debt to Assets 19.79% Inventory Days 39.24
Tot Debt to Common Equity 32.85% Accounts Payable Turnover Day 135.77
Accounts Receivable Turnover 10.74 Cash Conversion Cycle -62.45
Inventory Turnover 9.33
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
China Precious Metal Resources Holdings Co LtdPrice/Volume
Valuation Analysis
7'510'000.00
Current Price (5/dd/yy) Market Data
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0.0
500.0
1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
4'000.0
4'500.0
5'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MUNSUN GL MINING INV n/a EXCH 438'766'000 10.08 7'190'000 25.02.2013 Investment Advisor
YIM YANG CHANG n/a EXCH 307'206'000 7.06 24'900'000 26.10.2012 n/a
ASWELL GROUP LTD n/a EXCH 257'196'670 5.91 - 16.10.2012 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 223'024'000 5.13 (1'008'000) 29.04.2013 Investment Advisor
BANK OF NEW YORK MEL n/a EXCH 217'908'000 5.01 - 22.01.2013 Investment Advisor
PREMIUM WISE INC n/a EXCH 187'636'382 4.31 (679'470'000) 08.11.2012 Holding Company
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 21'864'000 0.5 - 31.07.2012 Investment Advisor
SIMPLE BEST LTD n/a EXCH 16'682'000 0.38 (50'000'000) 07.10.2011 Other
VANGUARD GROUP INC Multiple Portfolios MF-AGG 14'414'000 0.33 1'034'000 31.12.2012 Investment Advisor
ZHANG SHU GUANG n/a EXCH 10'300'000 0.24 1'120'000 18.04.2012 n/a
XIAOBING DAI n/a EXCH 10'000'000 0.23 (1'000'000) 10.04.2013 n/a
BLACKROCK n/a ULT-AGG 9'200'000 0.21 - 26.04.2013 Investment Advisor
CHAM LAM n/a EXCH 7'400'000 0.17 - 16.10.2012 n/a
CHAM LAM n/a Short (6'000'000) -0.14 - 16.10.2012 n/a
CLAYMORE ADVISORS LL Multiple Portfolios MF-AGG 4'968'000 0.11 - 29.04.2013 Investment Advisor
STATE STREET n/a ULT-AGG 3'528'000 0.08 - 29.04.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 2'826'000 0.06 - 31.01.2013 Investment Advisor
XIMIN MEI n/a Co File 2'000'000 0.05 - 31.12.2011 n/a
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 1'920'000 0.04 - 31.01.2013 Investment Advisor
KIN SANG CHAN n/a Co File 800'000 0.02 - 31.12.2011 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Argonaut Securities Pty Ltd CHRIS JIANG buy 5 M 2 Not Provided 19.04.2013
BOCOM International Holdings BENJAMIN PEI buy 5 M 2 Not Provided 02.04.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 17.01.2013
Holdings By:
China Precious Metal Resources Holdings Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Seabridge Gold, Inc. acquires gold projects in North America. The Company
expands and verifies these resources, moves them to reserves to determine their
economic value, and either sells to or forms joint ventures with larger
companies for mine construction and production.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (14.09.2012) 20.34
52-Week Low (18.04.2013) 9.63
Daily Volume
11.37
52-Week High % Change -44.09% Dividend Yield -
52-Week Low % Change 18.07% Beta 0.99
% 52 Week Price Range High/Low 16.25% Equity Float 41.57
Shares Out 30.04.2013 45.6 Short Int 3.88
517.98 1 Yr Total Return -22.34%
Total Debt 0.00 YTD Return -36.73%
Preferred Stock 0.0 Adjusted BETA 0.987
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 52.04 Consensus Rating 4.333
Enterprise Value 469.43
Average Volume 5 Day 218'122
SA US EQUITY YTD Change - Average Volume 30 Day 375'568
SA US EQUITY YTD % CHANGE - Average Volume 3 Month 375'092
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(5.6) (5.0) (5.7) (19.8) (15.8) (19.8) (8.7) (15.0) (16.0) - -
- - - - - 0.00x 0.00x - - - -
10.3 (4.7) 3.3 (20.1) (12.5) (20.1) (12.5) - - - -
- - - - - 0.00x 0.00x - - - -
EBITDA -15.82 Long-Term Rating Date -
EBIT -15.83 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -5.08% Short-Term Rating -
Return on Common Equity -5.37%
Return on Capital - EBITDA/Interest Exp. -385.83
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -1574.22
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 5.11 Net Fixed Asset Turnover 0.00
Quick Ratio 5.11 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Seabridge Gold IncPrice/Volume
Valuation Analysis
217'133.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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0.1
0.2
0.3
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0.5
0.6
0.7
0.8
0.9
1.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 11'905'084 26.13 3'512'313 29.04.2013 Investment Advisor
PAN ATLANTIC BANK n/a PROXY 8'001'232 17.56 - 10.05.2012 Bank
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 5'837'287 12.81 (289'596) 31.03.2013 Investment Advisor
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 2'022'491 4.44 2'022'491 31.12.2012 Hedge Fund Manager
FRONK RUDI P n/a SEDI 1'180'000 2.59 10'000 16.11.2012 n/a
ANTHONY JAMES S n/a PROXY 779'791 1.71 - 15.05.2012 n/a
FMR LLC n/a ULT-AGG 601'905 1.32 - 31.03.2013 Investment Advisor
FCMI FINANCIAL CORP n/a PROXY 555'000 1.22 - 10.05.2012 Corporation
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 478'467 1.05 (203'241) 31.03.2013 Hedge Fund Manager
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 457'897 1.01 129'117 31.12.2012 Investment Advisor
FIDEURAM GESTIONS SA Multiple Portfolios MF-AGG 450'000 0.99 - 02.04.2013 Investment Advisor
FNDTN FOR STUDY OBJ n/a SEDI 425'334 0.93 - 06.02.2012 Other
BLACKROCK n/a ULT-AGG 338'330 0.74 (464'930) 26.04.2013 Investment Advisor
FOX LOUIS J n/a SEDI 300'750 0.66 - 06.12.2011 n/a
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 286'420 0.63 (23'150) 31.03.2013 Investment Advisor
THRELKELD WILLIAM E n/a SEDI 265'000 0.58 (10'000) 30.08.2011 n/a
BANFIELD A FREDERICK n/a PROXY 245'000 0.54 - 15.05.2012 n/a
NORGES BANK NORGES BANK 13F 235'224 0.52 (71'639) 31.12.2012 Government
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 198'997 0.44 2'534 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 185'194 0.41 6'435 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen Securities LLC ADAM P GRAF buy 5 M 65 Not Provided 09.04.2013
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 22 12 month 08.03.2013
Nomura TYLER BRODA buy 5 M 24 Not Provided 16.05.2012
Holdings By:
Seabridge Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Beadell Resources Limited is a gold development company. The Company's
primary asset is the Tucano gold project, located in Brazil. Beadell also has
an extensive portfolio of gold exploration tenements throughout Australia
and Brazil, including the prospective Tropicana East Project located adjacent
to the Tropicana gold deposit
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (07.12.2012) 1.14
52-Week Low (15.05.2012) 0.52
Daily Volume
0.735
52-Week High % Change -35.24% Dividend Yield 0.00
52-Week Low % Change 41.35% Beta 1.30
% 52 Week Price Range High/Low 37.40% Equity Float 667.98
Shares Out 22.04.2013 786.5 Short Int 39.30
578.06 1 Yr Total Return 21.49%
Total Debt 132.84 YTD Return -25.00%
Preferred Stock 0.0 Adjusted BETA 1.301
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 5.38 Consensus Rating 4.643
Enterprise Value 705.52
Average Volume 5 Day 6'979'967
BDR AU EQUITY YTD Change - Average Volume 30 Day 8'947'409
BDR AU EQUITY YTD % CHANGE - Average Volume 3 Month 7'983'323
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
- - 2.9 0.0 0.9 - - 313.1 332.8 - -
- - 28.44x - 976.94x - - 1.78x 1.28x - -
(5.9) (3.9) (7.5) (35.3) (14.0) - - 161.1 182.5 - -
- - - - - - - 4.38x 3.87x - -
(5.3) (3.9) (8.3) (34.8) (43.0) - - 127.8 141.0 - -
- - - - - - - 5.18x 4.32x - -
EBITDA -13.98 Long-Term Rating Date -
EBIT -14.11 Long-Term Rating -
Operating Margin -1612.69% Long-Term Outlook -
Pretax Margin -4944.23% Short-Term Rating Date -
Return on Assets -22.34% Short-Term Rating -
Return on Common Equity -100.81%
Return on Capital - EBITDA/Interest Exp. -5.55
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -16.00
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin -1612.7% Total Debt/Equity 407.5%
Net Income Margin -4913.5% Total Debt/Capital 80.3%
Asset Turnover 0.00
Current Ratio 0.44 Net Fixed Asset Turnover 0.01
Quick Ratio 0.05 Accounts receivable turnover-days -
Debt to Assets 53.81% Inventory Days -
Tot Debt to Common Equity 407.55% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Beadell Resources LtdPrice/Volume
Valuation Analysis
5'137'260.00
Current Price (5/dd/yy) Market Data
'
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3.5
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
COLUMBIA WANGER ASSE n/a EXCH 61'627'671 7.84 386'033 18.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 57'959'639 7.37 12'464'715 29.04.2013 Investment Advisor
COUPLAND CARDIFF ASS n/a Co File 37'132'343 4.72 - 18.02.2013 Hedge Fund Manager
L1 CAPITAL PTY LTD n/a EXCH 23'660'753 3.01 (21'000'000) 22.11.2012 Investment Advisor
BOWLER PETER n/a EXCH 21'043'333 2.68 (4'000'000) 30.11.2012 n/a
FRANKLIN RESOURCES n/a ULT-AGG 19'652'465 2.5 70'000 31.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 17'101'565 2.17 65'047 26.04.2013 Investment Advisor
OZ MINERALS INVESTME n/a Co File 12'800'000 1.63 - 31.03.2012 Unclassified
AMP LIFE LTD n/a Co File 12'331'993 1.57 - 31.03.2012 Investment Advisor
UNISUPER n/a EXCH 12'137'228 1.54 - 05.12.2011 Other
FMR LLC n/a ULT-AGG 11'653'618 1.48 1'685'000 31.03.2013 Investment Advisor
BRAIDWOOD INVESTMENT n/a Co File 9'100'001 1.16 - 31.03.2012 Unclassified
LEIBOWITZ ANTHONY HO n/a EXCH 8'586'457 1.09 263'091 30.11.2012 n/a
BARRETT GREGORY MICH n/a Co File 8'351'651 1.06 - 31.12.2011 n/a
ACORN CAPITAL LTD n/a EXCH 7'556'401 0.96 - 05.12.2011 Investment Advisor
HOOKIPA PTY LTD n/a Co File 7'254'650 0.92 - 31.03.2012 Unclassified
WATKINS ROBERT n/a EXCH 6'150'001 0.78 - 14.11.2012 n/a
TWYNAM AGRICULTURAL n/a Co File 5'975'000 0.76 - 31.12.2012 Other
SUNSUPER FUND n/a EXCH 4'733'422 0.6 - 05.12.2011 Other
AMERIPRISE FINANCIAL n/a EXCH 4'672'306 0.59 544'551 18.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie MITCH RYAN outperform 5 M 1 12 month 26.04.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 N 1 Not Provided 26.04.2013
Octa Phillip Securities Ltd ANDREW SHEARER buy 5 M 1 Not Provided 24.04.2013
Hartleys TRENT BARNETT buy 5 M 1 12 month 23.04.2013
Ord Minnett DAVID BRENNAN buy 5 M 1 Not Provided 17.04.2013
GMP LEVI SPRY buy 5 M 1 12 month 28.03.2013
Shaw Stockbroking VINCENT PISANI buy 5 M 1 Not Provided 28.03.2013
Casimir Capital ERIC ALLISON overweight 5 M 2 12 month 16.01.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 15.01.2013
Blackswan Equities Ltd RHYS BRADLEY buy 5 N 1 12 month 21.12.2012
RBS Morgans JAMES WILSON outperform 5 N 1 12 month 27.11.2012
Evans & Partners Pty Ltd CATHY MOISES Positive 4 N #N/A N/A Not Provided 24.10.2012
Bell Potter CHRIS WHITEHEAD buy 5 M 1 12 month 05.03.2012
Holdings By:
Beadell Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Resolute Mining Limited explores for, produces and develops gold in Ghana, Mali
Queensland and Tanzania. The Company's gold exploration projects include
Obotan, Syama, Ravenswood and Golden Pride.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (05.10.2012) 2.08
52-Week Low (08.05.2013) 0.79
Daily Volume
0.88
52-Week High % Change -57.69% Dividend Yield 5.68
52-Week Low % Change 12.10% Beta 1.25
% 52 Week Price Range High/Low 10.04% Equity Float 510.03
Shares Out 31.12.2012 643.1 Short Int 1.75
565.92 1 Yr Total Return -40.58%
Total Debt 11.02 YTD Return -46.34%
Preferred Stock 0.0 Adjusted BETA 1.251
Minority Interest (33.3) Analyst Recs 13
Cash and Equivalents 48.78 Consensus Rating 3.769
Enterprise Value 504.80
Average Volume 5 Day 8'308'404
RSG AU EQUITY YTD Change - Average Volume 30 Day 4'099'487
RSG AU EQUITY YTD % CHANGE - Average Volume 3 Month 4'071'327
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y 12/11 Q2 03/12 Q3
231.5 299.7 334.9 445.1 576.7 - - 654.0 583.6 - -
2.48x 1.12x 1.49x 1.36x 1.37x - - 0.67x 0.72x - -
20.9 57.3 80.3 110.0 254.4 - - 272.0 220.0 - -
27.45x 5.85x 6.23x 5.49x 3.10x - - 1.86x 2.29x - -
(56.7) 30.7 (37.2) 59.7 105.1 - - 141.4 91.5 - -
- 6.17x - 8.72x 7.25x - - 3.91x 5.71x - -
EBITDA 254.40 Long-Term Rating Date -
EBIT 180.99 Long-Term Rating -
Operating Margin 31.38% Long-Term Outlook -
Pretax Margin 21.58% Short-Term Rating Date -
Return on Assets 21.89% Short-Term Rating -
Return on Common Equity 25.34%
Return on Capital 27.39% EBITDA/Interest Exp. 24.36
Asset Turnover 0.90% (EBITDA-Capex)/Interest Exp. 22.02
Net Debt/EBITDA -0.13
Gross Margin 35.8% Total Debt/EBITDA 0.06
EBITDA Margin 42.1%
EBIT Margin 31.0% Total Debt/Equity 1.9%
Net Income Margin 18.2% Total Debt/Capital 2.0%
Asset Turnover 0.90
Current Ratio 3.40 Net Fixed Asset Turnover 3.38
Quick Ratio 0.76 Accounts receivable turnover-days 12.69
Debt to Assets 1.66% Inventory Days 136.26
Tot Debt to Common Equity 1.91% Accounts Payable Turnover Day 32.96
Accounts Receivable Turnover 28.85 Cash Conversion Cycle 85.74
Inventory Turnover 2.69
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Resolute Mining LtdPrice/Volume
Valuation Analysis
8'339'769.00
Current Price (5/dd/yy) Market Data
'
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100.0
200.0
300.0
400.0
500.0
600.0
700.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ICM LTD n/a EXCH 192'072'476 29.87 (5'037'500) 20.11.2012 Other
UTILICO INVESTMENTS n/a EXCH 126'929'227 19.74 1'500'000 12.07.2012 Investment Advisor
M&G INVESTMENT MANAG n/a EXCH 64'000'000 9.95 (5'700'000) 08.02.2013 Investment Advisor
VANGUARD GROUP INC n/a EXCH 57'000'000 8.86 5'034'971 05.10.2012 Investment Advisor
BANK OF AMERICA CORP n/a EXCH 39'392'367 6.13 (9'442'393) 10.05.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 33'691'540 5.24 - 29.04.2013 Investment Advisor
VINVA INVESTMENT MGM n/a EXCH 32'497'591 5.05 - 31.01.2013 Investment Advisor
CF RUFFER BAKER STEE n/a EXCH 19'097'479 2.97 (3'846'391) 04.04.2012 n/a
RUFFER LLP Multiple Portfolios MF-AGG 12'576'000 1.96 - 27.12.2012 Hedge Fund Manager
PERMANENT INVESTMENT n/a EXCH 5'010'643 0.78 (4'989'357) 12.07.2012 Other
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 4'891'038 0.76 - 31.07.2012 Investment Advisor
GENUS DYNAMIC GOLD F n/a EXCH 4'811'000 0.75 - 23.02.2012 n/a
JP MORGAN n/a ULT-AGG 4'776'489 0.74 (77'000) 28.02.2013 Investment Advisor
BAKER STEEL CAPITAL n/a EXCH 4'300'000 0.67 - 04.04.2012 Investment Advisor
ECLECTIC INVEST TRUS n/a EXCH 3'500'000 0.54 1'500'000 12.07.2012 Investment Advisor
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'455'670 0.54 807'280 30.09.2012 Investment Advisor
SULLIVAN PETER ROSS n/a EXCH 3'007'448 0.47 (500'000) 02.01.2013 n/a
FMR LLC n/a ULT-AGG 2'988'261 0.46 - 31.03.2013 Investment Advisor
GRANTHAM MAYO VAN OT Multiple Portfolios MF-AGG 1'485'807 0.23 108'451 31.05.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'401'611 0.22 - 26.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp REG SPENCER sell 1 M 1 Not Provided 30.04.2013
Morgan Stanley BRENDAN FITZPATRICK Equalwt/In-Line 3 M 1 12 month 24.04.2013
GMP LEVI SPRY buy 5 M 2 Not Provided 24.04.2013
Bell Potter STEPHEN THOMAS buy 5 M 2 12 month 24.04.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 2 12 month 24.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 2 Not Provided 15.04.2013
Veritas Securities MATTHEW BAILLIE buy 5 M 2 Not Provided 25.01.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
Westhouse Securities ROB BROKE add 4 M 2 Not Provided 08.11.2012
Helmsec Global Capital Limited GAVIN VAN DER WATH speculative buy 4 M 2 12 month 31.07.2012
Deutsche Bank CHRIS TERRY not rated #N/A N/A M #N/A N/A Not Provided 22.02.2012
Holdings By:
Resolute Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Endeavour Mining Corp. is a growth focused West African gold producer. The
Company's operations include three operating mines in Ghana, Mali, and Burkina
Faso, and a fourth mine in Cote d'Ivoire that is currently in construction.
Endeavour also has a large West African land position with active exploration
programs.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.10.2012) 2.56
52-Week Low (18.04.2013) 0.83
Daily Volume
0.89
52-Week High % Change -65.23% Dividend Yield 0.00
52-Week Low % Change 7.23% Beta 1.00
% 52 Week Price Range High/Low 3.47% Equity Float 406.80
Shares Out 30.04.2013 412.5 Short Int 0.43
367.12 1 Yr Total Return -58.02%
Total Debt 201.83 YTD Return -57.00%
Preferred Stock 0.0 Adjusted BETA 0.999
Minority Interest 75.0 Analyst Recs 5
Cash and Equivalents 113.67 Consensus Rating 4.800
Enterprise Value 530.24
Average Volume 5 Day 1'538'899
EDV CN EQUITY YTD Change - Average Volume 30 Day 1'949'074
EDV CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'033'783
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
109.2 (219.3) 167.1 145.6 346.1 146.0 347.1 492.3 628.0 109.0 102.0
- - - 3.93x 2.81x 5.51x 7.47x - - - -
- (237.2) 130.7 43.3 136.2 42.7 136.6 209.0 226.3 - -
- - - 13.22x 7.14x 13.22x 7.12x 2.54x 2.34x - -
57.1 (241.8) 125.3 (23.5) (8.6) (26.5) (8.3) 73.2 207.0 - -
3.99x - 1.70x - - 0.00x 1993.13x 7.36x 5.14x 9.18x 6.85x
EBITDA 136.25 Long-Term Rating Date -
EBIT 62.12 Long-Term Rating -
Operating Margin 17.95% Long-Term Outlook -
Pretax Margin 10.05% Short-Term Rating Date -
Return on Assets -0.61% Short-Term Rating -
Return on Common Equity -0.97%
Return on Capital -0.90% EBITDA/Interest Exp. 25.82
Asset Turnover 0.25% (EBITDA-Capex)/Interest Exp. 2.76
Net Debt/EBITDA 0.65
Gross Margin 27.4% Total Debt/EBITDA 1.48
EBITDA Margin 39.4%
EBIT Margin 18.0% Total Debt/Equity 19.0%
Net Income Margin -2.5% Total Debt/Capital 15.1%
Asset Turnover 0.25
Current Ratio 2.48 Net Fixed Asset Turnover 0.33
Quick Ratio 1.17 Accounts receivable turnover-days 22.12
Debt to Assets 11.50% Inventory Days 89.61
Tot Debt to Common Equity 19.00% Accounts Payable Turnover Day 90.61
Accounts Receivable Turnover 16.54 Cash Conversion Cycle 21.22
Inventory Turnover 4.08
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Endeavour Mining CorpPrice/Volume
Valuation Analysis
1'659'517.00
Current Price (5/dd/yy) Market Data
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-300.0
-200.0
-100.0
0.0
100.0
200.0
300.0
400.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 33'005'638 8 (148'896) 29.04.2013 Investment Advisor
SENTRY SELECT CAPITA n/a Co File 20'147'799 4.88 - 31.10.2012 Investment Advisor
FMR LLC n/a ULT-AGG 14'061'830 3.41 (7'178'000) 31.03.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 9'321'000 2.26 526'000 27.12.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 6'778'475 1.64 - 28.02.2013 Investment Advisor
ROYCE AND ASSOCIATES n/a 13G 4'850'000 1.18 (500'000) 31.12.2011 Investment Advisor
JP MORGAN n/a ULT-AGG 4'757'617 1.15 - 31.12.2012 Investment Advisor
ASHDELL LTD n/a PROXY 2'800'000 0.68 - 10.09.2012 Other
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 2'587'277 0.63 - 31.07.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 2'248'448 0.55 3'374 26.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'790'523 0.43 1'074'288 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 1'303'796 0.32 - 29.04.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 983'104 0.24 185'160 28.02.2013 Investment Advisor
CONNELLY MARK n/a SEDI 855'000 0.21 - 12.12.2011 n/a
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 700'000 0.17 - 28.02.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 541'001 0.13 (171'161) 31.12.2012 Hedge Fund Manager
WOODYER NEIL n/a SEDI 447'127 0.11 50'000 19.04.2013 n/a
LAING DAVID C n/a SEDI 388'618 0.09 60'000 16.04.2013 n/a
SMITH & WILLIAMSON H n/a ULT-AGG 323'601 0.08 - 28.02.2013 Investment Advisor
BOWLBY DOUGLAS J n/a SEDI 266'357 0.06 37'287 30.01.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James BRAD HUMPHREY outperform 5 M 3 12 month 24.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 3 12 month 24.04.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 M 2 Not Provided 11.04.2013
GMP ANDREW MIKITCHOOK buy 5 M 3 Not Provided 01.04.2013
Goldman Sachs EUGENE KING Buy/Neutral 5 M 2 12 month 15.03.2013
BMO Capital Markets ANDREW BREICHMANAS not rated #N/A N/A M #N/A N/A Not Provided 24.01.2013
Holdings By:
Endeavour Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Fortuna Silver Mines Inc. is a growth oriented, silver and base metal producer
focused on mining opportunities in Latin America. The Company's primary assets
are the San Jose silver-gold mine in Mexico and the Caylloma silver-lead-zinc
mine in Peru. Fortuna Silver Mines is selectively pursuing additional
acquisition opportunities in the Americas.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 5.85
52-Week Low (17.04.2013) 2.67
Daily Volume
2.86
52-Week High % Change -51.11% Dividend Yield 0.00
52-Week Low % Change 7.12% Beta 1.45
% 52 Week Price Range High/Low 5.97% Equity Float 124.53
Shares Out 30.04.2013 125.3 Short Int 2.97
358.37 1 Yr Total Return -24.14%
Total Debt - YTD Return -31.08%
Preferred Stock - Adjusted BETA 1.446
Minority Interest - Analyst Recs 10
Cash and Equivalents - Consensus Rating 4.300
Enterprise Value 293.93
Average Volume 5 Day 359'709
FVI CN EQUITY YTD Change - Average Volume 30 Day 474'573
FVI CN EQUITY YTD % CHANGE - Average Volume 3 Month 454'909
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
24.8 51.4 74.1 110.0 161.0 110.0 161.0 170.7 204.8 39.0 40.7
1.39x 3.01x 6.78x 5.78x - 20.85x 12.10x - - - -
0.1 21.3 34.1 48.8 70.7 48.8 70.7 73.5 101.0 20.0 23.5
401.05x 7.25x 14.71x 13.01x - 13.01x 6.51x 4.00x 2.91x - -
(0.9) 0.6 16.0 19.5 31.5 19.5 31.5 30.7 42.7 4.7 6.1
- 99.42x 34.34x 32.35x 15.45x 32.35x 15.45x 11.88x 8.71x 11.14x 9.80x
EBITDA 70.72 Long-Term Rating Date -
EBIT 49.34 Long-Term Rating -
Operating Margin 30.64% Long-Term Outlook -
Pretax Margin 28.09% Short-Term Rating Date -
Return on Assets 10.70% Short-Term Rating -
Return on Common Equity 12.77%
Return on Capital 12.75% EBITDA/Interest Exp. 125.83
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 46.04
Net Debt/EBITDA -0.88
Gross Margin 43.9% Total Debt/EBITDA 0.04
EBITDA Margin 43.9%
EBIT Margin 30.6% Total Debt/Equity -
Net Income Margin 19.5% Total Debt/Capital -
Asset Turnover 0.55
Current Ratio - Net Fixed Asset Turnover 0.83
Quick Ratio - Accounts receivable turnover-days 52.51
Debt to Assets - Inventory Days 48.91
Tot Debt to Common Equity - Accounts Payable Turnover Day 39.64
Accounts Receivable Turnover 6.97 Cash Conversion Cycle -
Inventory Turnover 7.48
Fiscal Year Ended
Fortuna Silver Mines IncPrice/Volume
Valuation Analysis
646'187.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 10'524'500 8.4 465'900 31.12.2012 Investment Advisor
SPROTT INC SPROTT INC 13F 8'370'809 6.68 (356'649) 31.03.2013 Hedge Fund Manager
MASON HILL ADVISORS MASON HILL ADVISORS 13F 7'932'400 6.33 (543'900) 31.12.2012 Hedge Fund Manager
MONTRUSCO BOLTON INV MONTRUSCO BOLTON INV 13F 2'507'190 2 (162'200) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 2'187'340 1.75 180'272 26.04.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'397'800 1.12 (10'100) 31.12.2012 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'174'200 0.94 - 31.12.2012 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 1'169'500 0.93 (239'800) 31.03.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'137'189 0.91 - 28.09.2012 Investment Advisor
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 997'900 0.8 (289'500) 31.03.2013 Investment Advisor
CQS CAYMAN LP CQS CAYMAN LP 13F 850'000 0.68 (470'000) 31.12.2012 Investment Advisor
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 711'800 0.57 138'400 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 683'198 0.55 (294'511) 31.12.2012 Bank
FEDERATED INVESTORS FEDERATED INVESTORS 13F 600'000 0.48 - 31.03.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 600'000 0.48 - 29.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 571'980 0.46 4'700 31.03.2013 Investment Advisor
NORTHWEST MUTUAL FUN Multiple Portfolios MF-AGG 505'241 0.4 56'738 28.02.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 498'091 0.4 33'300 31.12.2012 Pension Fund (ERISA)
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 462'200 0.37 - 28.02.2013 Investment Advisor
VEHRS THOMAS I n/a SEDI 425'000 0.34 225'000 29.11.2011 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT buy 5 M 5 12 month 29.04.2013
Raymond James CHRIS THOMPSON market perform 3 M 4 12 month 24.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 5 Not Provided 22.04.2013
Cormark Securities Inc. GRAEME JENNINGS market perform 3 M 4 12 month 22.04.2013
Haywood Securities Inc. BENJAMIN ASUNCION buy 5 M 5 12 month 22.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 6 12 month 18.04.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 4 12 month 17.04.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 16.04.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 N 6 Not Provided 11.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 4 12 month 21.03.2013
Holdings By:
Fortuna Silver Mines Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
McEwen Mining Inc. is a high growth, low cost mid-tier gold producer in the
Americas.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (01.11.2012) 4.72
52-Week Low (18.04.2013) 1.67
Daily Volume
2.12
52-Week High % Change -55.05% Dividend Yield 0.00
52-Week Low % Change 26.95% Beta 1.48
% 52 Week Price Range High/Low 14.77% Equity Float 184.40
Shares Out 03.05.2013 258.6 Short Int 29.24
712.98 1 Yr Total Return -26.96%
Total Debt 0.00 YTD Return -44.65%
Preferred Stock 0.0 Adjusted BETA 1.480
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 70.92 Consensus Rating 3.667
Enterprise Value 642.06
Average Volume 5 Day 3'397'792
MUX US EQUITY YTD Change - Average Volume 30 Day 3'799'836
MUX US EQUITY YTD % CHANGE - Average Volume 3 Month 3'376'399
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 6.0 0.0 26.8 150.0 217.0 34.8 39.2
- - - - 178.15x #DIV/0! 156.88x - - - -
(19.7) (17.3) (29.0) (59.6) (92.3) (59.6) (71.5) 83.0 137.0 - -
- - - - - 0.00x 0.00x 7.74x 4.69x - -
(131.1) (27.7) (33.1) (61.9) (66.7) (61.9) (66.7) 70.9 114.0 16.1 18.8
- - - - - 0.00x 0.00x 22.32x 12.47x - -
EBITDA -92.34 Long-Term Rating Date -
EBIT -93.37 Long-Term Rating -
Operating Margin -1565.02% Long-Term Outlook -
Pretax Margin -1573.89% Short-Term Rating Date -
Return on Assets -9.12% Short-Term Rating -
Return on Common Equity -12.02%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.04% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 10.5% Total Debt/EBITDA 0.00
EBITDA Margin -266.8%
EBIT Margin -270.6% Total Debt/Equity 0.0%
Net Income Margin -1117.2% Total Debt/Capital 0.0%
Asset Turnover 0.04
Current Ratio 3.65 Net Fixed Asset Turnover 0.05
Quick Ratio 2.82 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
McEwen Mining IncPrice/Volume
Valuation Analysis
4'062'079.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MCEWEN ROBERT R n/a Form 4 73'428'564 34.1 - 18.04.2013 n/a
BLACKROCK n/a ULT-AGG 13'335'621 6.19 - 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 12'713'212 5.9 380'310 29.04.2013 Investment Advisor
STATE STREET n/a ULT-AGG 11'459'381 5.32 (2'618'973) 29.04.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 10'796'918 5.01 (90'000) 31.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 8'798'586 4.09 (3'843'036) 31.03.2013 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 6'826'384 3.17 755'211 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'037'440 1.41 353'723 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 2'849'695 1.32 1'584'177 31.12.2012 Investment Advisor
STALEY CAPITAL ADVIS STALEY CAPITAL ADVIS 13F 2'446'937 1.14 366'137 31.12.2012 Hedge Fund Manager
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'246'531 1.04 486'048 31.12.2012 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 2'192'648 1.02 564'871 31.12.2012 Investment Advisor
MANUFACTURERS LIFE I MANUFACTURERS LIFE I 13F 2'116'076 0.98 195'158 31.12.2012 Insurance Company
HORIZON KINETICS n/a ULT-AGG 1'853'323 0.86 23'185 31.12.2012 Investment Advisor
SPROTT INC SPROTT INC 13F 1'735'340 0.81 (1'000'000) 31.03.2013 Hedge Fund Manager
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 1'662'931 0.77 313'982 31.12.2012 Investment Advisor
WELLS FARGO n/a ULT-AGG 1'478'932 0.69 153'696 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 1'166'475 0.54 73'405 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'077'675 0.5 63'377 31.12.2012 Investment Advisor
RAYMOND JAMES & ASSO RAYMOND JAMES & ASSO 13F 912'507 0.42 132'810 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 3 Not Provided 26.04.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 18.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 8 12 month 12.04.2013
Fraser Mackenzie Limited ALEKSANDRA BUKACHEVA buy 5 M 5 Not Provided 02.01.2013
Holdings By:
McEwen Mining Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
MAG Silver Corp acquires and explores mineral properties with a focus on
high-grade silver and gold. The Company, through its subsidiary, holds options
to earn an interest in properties located in Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (06.11.2012) 13.32
52-Week Low (17.04.2013) 6.57
Daily Volume
7.64
52-Week High % Change -42.64% Dividend Yield 0.00
52-Week Low % Change 16.29% Beta 1.67
% 52 Week Price Range High/Low 15.85% Equity Float 48.04
Shares Out 30.04.2013 60.1 Short Int 0.20
459.48 1 Yr Total Return -14.45%
Total Debt 0.00 YTD Return -24.88%
Preferred Stock 0.0 Adjusted BETA 1.669
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 41.05 Consensus Rating 4.500
Enterprise Value 418.43
Average Volume 5 Day 66'195
MAG CN EQUITY YTD Change - Average Volume 30 Day 149'856
MAG CN EQUITY YTD % CHANGE - Average Volume 3 Month 181'843
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
- 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(6.7) (9.4) (12.9) (9.5) (13.4) (9.5) (13.5) (3.4) (3.4) (0.9) (0.9)
- - - - - 0.00x 0.00x - - - -
(5.9) (13.5) (12.6) (8.3) (12.3) (8.3) (12.3) (4.4) (9.2) (0.9) (0.9)
- - - - - 0.00x 0.00x - - - -
EBITDA -13.45 Long-Term Rating Date -
EBIT -13.49 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -10.53% Short-Term Rating -
Return on Common Equity -10.72%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 31.79 Net Fixed Asset Turnover 0.00
Quick Ratio 31.65 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
MAG Silver CorpPrice/Volume
Valuation Analysis
73'530.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRESNILLO PLC n/a PROXY 9'746'193 16.21 - 07.09.2012 Unclassified
MASON HILL ADVISORS MASON HILL ADVISORS 13F 5'227'561 8.69 (227'749) 31.12.2012 Hedge Fund Manager
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 4'329'250 7.2 1'805'500 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 3'894'653 6.48 (17'544) 29.04.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 2'755'754 4.58 2'755'754 31.03.2013 Hedge Fund Manager
FRANKLIN RESOURCES n/a ULT-AGG 1'626'550 2.71 (544'950) 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 1'372'900 2.28 1'372'900 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'116'298 1.86 52'900 31.12.2012 Pension Fund (ERISA)
BLACKROCK n/a ULT-AGG 994'030 1.65 (408'125) 26.04.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 986'206 1.64 - 31.12.2012 Hedge Fund Manager
CARMAX ENTERPRISES n/a Co File 946'300 1.57 - 31.12.2010 Corporation
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 799'080 1.33 264'085 31.12.2012 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 760'000 1.26 10'000 31.12.2012 Investment Advisor
ANDREEFF EQUITY ADVI ANDREEFF EQUITY ADVI 13F 520'582 0.87 68'991 31.12.2012 Hedge Fund Manager
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 432'000 0.72 - 28.02.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 402'144 0.67 - 28.02.2013 Investment Advisor
CARLSON ERIC H n/a SEDI 379'200 0.63 50'000 03.08.2012 n/a
RAFFLES ASSOCIATES L RAFFLES ASSOCIATES L 13F 372'900 0.62 - 31.12.2012 Hedge Fund Manager
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 370'978 0.62 105'600 31.03.2013 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 340'400 0.57 176'100 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie MICHAEL GRAY outperform 5 M 14 12 month 25.04.2013
Raymond James DAVID SADOWSKI outperform 5 M 14 12 month 24.04.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M #N/A N/A Not Provided 15.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 15 12 month 11.04.2013
Holdings By:
MAG Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Primero Mining Corporation is a gold and silver producer. The Company focuses
on building a precious metals portfolio in the Americas.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (24.10.2012) 7.89
52-Week Low (28.06.2012) 2.43
Daily Volume
5.7
52-Week High % Change -27.76% Dividend Yield 0.00
52-Week Low % Change 134.57% Beta 1.44
% 52 Week Price Range High/Low 59.89% Equity Float 65.03
Shares Out 30.04.2013 97.4 Short Int 5.51
555.38 1 Yr Total Return 86.27%
Total Debt 40.00 YTD Return -10.94%
Preferred Stock 0.0 Adjusted BETA 1.442
Minority Interest 0.0 Analyst Recs 12
Cash and Equivalents 139.24 Consensus Rating 4.667
Enterprise Value 452.42
Average Volume 5 Day 238'578
P CN EQUITY YTD Change - Average Volume 30 Day 335'783
P CN EQUITY YTD % CHANGE - Average Volume 3 Month 375'786
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 60.3 156.5 182.9 156.5 182.9 201.5 250.8 61.2 53.1
- - 8.68x 1.80x 2.88x 8.77x 7.32x 2.03x 1.67x 6.91x 7.77x
(0.6) (0.6) 12.8 72.8 77.4 72.8 77.4 89.1 136.4 33.6 23.7
- - 40.81x 3.86x 6.79x 3.86x 6.79x 5.08x 3.32x 4.27x 4.19x
(0.7) (0.7) (31.5) 49.6 49.6 49.6 49.6 48.3 69.0 25.1 14.6
- - - 5.81x 11.91x 5.51x 12.37x 13.26x 9.40x 13.05x 11.70x
EBITDA 77.44 Long-Term Rating Date -
EBIT 49.39 Long-Term Rating -
Operating Margin 27.00% Long-Term Outlook -
Pretax Margin 24.42% Short-Term Rating Date -
Return on Assets 7.74% Short-Term Rating -
Return on Common Equity 9.35%
Return on Capital - EBITDA/Interest Exp. 26.82
Asset Turnover 0.29% (EBITDA-Capex)/Interest Exp. 13.06
Net Debt/EBITDA -1.28
Gross Margin 58.7% Total Debt/EBITDA 0.52
EBITDA Margin 42.3%
EBIT Margin 27.0% Total Debt/Equity 7.0%
Net Income Margin 27.1% Total Debt/Capital 6.5%
Asset Turnover 0.29
Current Ratio 3.07 Net Fixed Asset Turnover 0.37
Quick Ratio 2.66 Accounts receivable turnover-days 9.32
Debt to Assets 5.97% Inventory Days 49.71
Tot Debt to Common Equity 7.00% Accounts Payable Turnover Day 145.84
Accounts Receivable Turnover 39.27 Cash Conversion Cycle -86.81
Inventory Turnover 7.36
Fiscal Year Ended
Primero Mining CorpPrice/Volume
Valuation Analysis
205'488.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
200.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOLDCORP INC n/a SEDI 31'151'200 32.05 (8'422'460) 12.10.2012 Corporation
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 7'443'290 7.66 (34'700) 31.03.2013 Hedge Fund Manager
FRANKLIN RESOURCES n/a ULT-AGG 7'016'800 7.22 68'800 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 6'354'449 6.54 (36) 31.03.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 5'468'375 5.63 (1'803'625) 31.12.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'273'071 5.42 (23'748) 29.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 4'418'229 4.55 2'393'237 28.02.2013 Bank
FMR LLC n/a ULT-AGG 2'139'700 2.2 1'635'400 31.03.2013 Investment Advisor
O'SHAUGHNESSY ASSET O'SHAUGHNESSY ASSET 13F 1'787'295 1.84 1'270'148 31.12.2012 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 1'707'777 1.76 (1'155'890) 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 1'452'000 1.49 (128'000) 31.03.2013 Hedge Fund Manager
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 1'116'000 1.15 - 28.02.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 1'076'900 1.11 (1'418'700) 31.12.2012 Hedge Fund Manager
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 1'028'500 1.06 1'028'500 31.12.2012 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 1'024'100 1.05 (323'500) 31.12.2012 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 673'900 0.69 241'500 31.12.2012 Hedge Fund Manager
SPARK INVESTMENT MAN SPARK INVESTMENT MAN 13F 582'800 0.6 70'000 31.12.2012 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 576'500 0.59 (22'900) 28.02.2013 Investment Advisor
CONWAY JOSEPH F n/a SEDI 563'300 0.58 50'000 04.07.2012 n/a
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 488'600 0.5 488'600 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CIBC World Markets CHITIMUKULU MUSONDA sector outperform 5 N 9 18 month 29.04.2013
Macquarie MICHAEL GRAY outperform 5 M 7 12 month 26.04.2013
BMO Capital Markets BRIAN QUAST outperform 5 M 9 Not Provided 22.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 9 12 month 22.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 6 12 month 19.04.2013
Cantor Fitzgerald ROB CHANG buy 5 M 8 12 month 18.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 11 12 month 15.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 15.04.2013
TD Securities STEVEN J GREEN restricted #N/A N/A M #N/A N/A Not Provided 04.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 10 12 month 27.03.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 9 12 month 26.03.2013
GMP CHELSEA HAMILTON buy 5 M 10 12 month 26.03.2013
Holdings By:
Primero Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Kingsgate Consolidated Limited is a gold mining and exploration company with
operations focused in Thailand at the Chatree gold project. The Company also
explores for silver and other metals.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (03.10.2012) 6.20
52-Week Low (03.05.2013) 1.79
Daily Volume
2.04
52-Week High % Change -67.10% Dividend Yield 7.35
52-Week Low % Change 13.97% Beta 1.31
% 52 Week Price Range High/Low 6.35% Equity Float 146.95
Shares Out 12.04.2013 152.2 Short Int 11.11
310.47 1 Yr Total Return -62.90%
Total Debt 157.54 YTD Return -53.01%
Preferred Stock 0.0 Adjusted BETA 1.307
Minority Interest 0.0 Analyst Recs 12
Cash and Equivalents 90.62 Consensus Rating 2.583
Enterprise Value 442.14
Average Volume 5 Day 1'899'099
KCN AU EQUITY YTD Change - Average Volume 30 Day 1'321'100
KCN AU EQUITY YTD % CHANGE - Average Volume 3 Month 1'288'723
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
74.3 113.0 176.1 172.4 357.4 - - 341.8 389.2 - -
6.01x 5.46x 5.16x 6.69x 2.24x - - 1.28x 1.10x - -
19.6 (38.1) 84.7 66.8 164.9 - - 114.8 144.1 - -
22.77x - 10.74x 17.26x 4.86x - - 3.85x 3.07x - -
36.2 32.5 66.3 21.1 75.2 - - 33.5 46.0 - -
10.12x 19.20x 12.59x 42.78x 9.24x - - 8.46x 8.03x - -
EBITDA 164.86 Long-Term Rating Date -
EBIT 97.31 Long-Term Rating -
Operating Margin 27.23% Long-Term Outlook -
Pretax Margin 25.54% Short-Term Rating Date -
Return on Assets 4.93% Short-Term Rating -
Return on Common Equity 6.76%
Return on Capital 6.48% EBITDA/Interest Exp. 10.36
Asset Turnover 0.37% (EBITDA-Capex)/Interest Exp. -0.38
Net Debt/EBITDA -
Gross Margin 33.2% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 23.9% Total Debt/Equity 20.3%
Net Income Margin 21.0% Total Debt/Capital 16.9%
Asset Turnover 0.37
Current Ratio 2.03 Net Fixed Asset Turnover 0.47
Quick Ratio 0.98 Accounts receivable turnover-days 19.78
Debt to Assets 15.03% Inventory Days -
Tot Debt to Common Equity 20.31% Accounts Payable Turnover Day -
Accounts Receivable Turnover 18.50 Cash Conversion Cycle 42.36
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Kingsgate Consolidated LtdPrice/Volume
Valuation Analysis
2'231'763.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 13'449'300 8.84 (450'000) 26.04.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 11'529'822 7.58 2'130'110 12.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 10'654'665 7 - 29.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 8'578'820 5.64 (369'358) 31.12.2012 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 5'500'000 3.61 - 30.11.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 4'693'651 3.08 - 27.12.2012 Hedge Fund Manager
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 4'118'481 2.71 - 30.09.2012 Hedge Fund Manager
SMYTH-KIRK ROSS DONA n/a EXCH 3'706'582 2.44 - 03.04.2013 n/a
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'065'821 0.7 310'561 30.09.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 979'875 0.64 16'822 31.07.2012 Investment Advisor
THOMAS GAVIN n/a EXCH 946'403 0.62 - 23.11.2012 n/a
PRUDENTIAL FINANCIAL n/a ULT-AGG 922'692 0.61 11'731 28.03.2013 Investment Advisor
ARINYA INVESTMENTS P n/a EXCH 879'689 0.58 - 03.04.2013 Other
VANGUARD GROUP INC Multiple Portfolios MF-AGG 698'198 0.46 10'853 31.03.2013 Investment Advisor
AXA ROSENBERG INTL Multiple Portfolios MF-AGG 662'402 0.44 523'974 31.12.2012 Investment Advisor
ERSTE SPARINVEST KAG Multiple Portfolios MF-AGG 540'000 0.35 - 28.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 360'716 0.24 (1'154'049) 31.01.2013 Investment Advisor
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 349'189 0.23 312'360 31.12.2012 Investment Advisor
PACIFIC INCOME ADVIS Multiple Portfolios MF-AGG 281'011 0.18 - 28.03.2013 Investment Advisor
HSBC TRINKAUS INVEST Multiple Portfolios MF-AGG 225'000 0.15 - 31.07.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BBY Limited KURT WORDEN strong buy 5 M 3 12 month 30.04.2013
Goldman Sachs PAUL HISSEY sell/attractive 1 M 2 12 month 29.04.2013
RBC Capital Markets STEUART MCINTYRE underperform 1 D 2 12 month 29.04.2013
Macquarie MITCH RYAN neutral 3 M 3 12 month 29.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 5 Not Provided 15.04.2013
E.L. & C. Baillieu SOPHIE SPARTALIS hold 3 M 4 12 month 15.03.2013
EVA Dimensions CRAIG STERLING hold 3 D #N/A N/A Not Provided 04.03.2013
Veritas Securities MATTHEW BAILLIE buy 5 M 6 Not Provided 31.01.2013
Evans & Partners Pty Ltd CATHY MOISES negative 2 D #N/A N/A Not Provided 02.11.2012
Deutsche Bank CHRIS TERRY not rated #N/A N/A M #N/A N/A Not Provided 22.02.2012
Bell Potter PETER CHAPMAN Under Review #N/A N/A M #N/A N/A Not Provided 02.11.2011
Holdings By:
Kingsgate Consolidated Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Timmins Gold Corporation operates as a gold exploration and production company.
The Company owns and operates a Mexican based mine where they develop, explore
and produce gold.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (13.11.2012) 3.48
52-Week Low (23.05.2012) 1.49
Daily Volume
2.41
52-Week High % Change -30.75% Dividend Yield 0.00
52-Week Low % Change 61.74% Beta 1.09
% 52 Week Price Range High/Low 46.23% Equity Float 137.45
Shares Out 30.04.2013 144.1 Short Int 0.12
347.24 1 Yr Total Return 12.09%
Total Debt 17.55 YTD Return -19.40%
Preferred Stock 0.0 Adjusted BETA 1.087
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 24.06 Consensus Rating 4.571
Enterprise Value 337.62
Average Volume 5 Day 476'564
TMM CN EQUITY YTD Change - Average Volume 30 Day 737'002
TMM CN EQUITY YTD % CHANGE - Average Volume 3 Month 647'421
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.12.2012 03/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 84.4 156.1 84.4 155.7 196.0 214.5 46.7 45.9
- - - 4.15x 2.73x 14.70x 8.93x 1.51x 1.07x 7.11x 7.06x
(4.2) (3.5) (6.7) 43.5 68.5 43.5 68.3 88.7 90.9 17.3 19.6
- - - 8.05x 6.22x 8.05x 6.24x 3.80x 3.71x 4.47x 4.50x
(5.3) (3.4) (8.6) 11.5 36.1 11.5 35.9 49.8 48.0 10.5 9.1
- - - 27.89x 12.02x 27.89x 12.04x 7.13x 7.15x 7.33x 7.19x
EBITDA 68.51 Long-Term Rating Date -
EBIT 60.58 Long-Term Rating -
Operating Margin 38.80% Long-Term Outlook -
Pretax Margin 36.58% Short-Term Rating Date -
Return on Assets 21.95% Short-Term Rating -
Return on Common Equity 33.32%
Return on Capital 30.52% EBITDA/Interest Exp. 27.48
Asset Turnover 0.80% (EBITDA-Capex)/Interest Exp. 13.71
Net Debt/EBITDA -0.12
Gross Margin 49.1% Total Debt/EBITDA 0.23
EBITDA Margin 45.8%
EBIT Margin 40.4% Total Debt/Equity 11.9%
Net Income Margin 23.1% Total Debt/Capital 10.7%
Asset Turnover 0.80
Current Ratio 1.97 Net Fixed Asset Turnover 1.27
Quick Ratio 0.97 Accounts receivable turnover-days 20.58
Debt to Assets 8.12% Inventory Days 141.38
Tot Debt to Common Equity 11.93% Accounts Payable Turnover Day 55.91
Accounts Receivable Turnover 17.74 Cash Conversion Cycle 151.43
Inventory Turnover 2.58
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Timmins Gold CorpPrice/Volume
Valuation Analysis
446'804.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 25'289'200 17.55 (829'400) 31.12.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 11'064'577 7.68 (49'920) 29.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 8'060'231 5.59 (69'956) 28.02.2013 Bank
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 5'781'224 4.01 - 28.02.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 5'091'600 3.53 313'100 31.12.2012 Investment Advisor
SPROTT INC SPROTT INC 13F 3'810'200 2.64 860'000 31.03.2013 Hedge Fund Manager
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 3'712'200 2.58 3'712'200 31.12.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 3'706'900 2.57 - 27.12.2012 Hedge Fund Manager
BRAGAGNOLO BRUCE n/a SEDI 2'928'000 2.03 (25'000) 03.01.2013 n/a
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 2'705'400 1.88 100'000 31.03.2013 Investment Advisor
BONILLAS ZEPEDA F A n/a SEDI 2'584'800 1.79 (34'729) 19.12.2012 n/a
GCIC LTD/CANADA GOODMAN & COMPANY IN 13F 2'265'000 1.57 2'265'000 31.12.2012 Investment Advisor
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 2'217'500 1.54 536'400 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'803'600 1.25 - 31.12.2012 Pension Fund (ERISA)
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 1'686'100 1.17 371'900 31.12.2012 Hedge Fund Manager
CQS CAYMAN LP CQS CAYMAN LP 13F 1'300'000 0.9 - 31.12.2012 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 1'089'700 0.76 83'200 28.02.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 820'191 0.57 63'043 31.03.2013 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 740'000 0.51 250'000 31.12.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 698'391 0.48 (4'915) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie MICHAEL SIPERCO neutral 3 D 3 12 month 25.04.2013
TD Securities STEVEN J GREEN buy 5 M 4 12 month 23.04.2013
PI Financial Corp. PHILIP KER buy 5 M 3 12 month 23.04.2013
Cormark Securities Inc. KYLE MCPHEE buy 5 M 3 12 month 22.04.2013
Stonecap Securities Inc BRIAN SZETO outperform 5 M 4 12 month 22.04.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 4 12 month 19.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL sell 1 M 2 12 month 16.04.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 4 Not Provided 12.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 3 Not Provided 11.04.2013
National Bank Financial SHANE NAGLE outperform 5 M 4 12 month 10.04.2013
M Partners Inc INGRID RICO buy 5 M 4 12 month 10.04.2013
Casimir Capital STUART MCDOUGALL strong buy 5 M 4 12 month 10.04.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 4 12 month 20.03.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 15.01.2013
MGI Securities MARC PAIS buy 5 M 5 12 month 05.07.2011
Holdings By:
Timmins Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
St. Barbara Limited is a gold exploration and production company. The Company's
exploration projects include its Southern Cross and Leonora Operations which
are located in Western Australia.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (18.10.2012) 2.40
52-Week Low (08.05.2013) 0.51
Daily Volume
0.755
52-Week High % Change -68.54% Dividend Yield 0.00
52-Week Low % Change 48.04% Beta 1.17
% 52 Week Price Range High/Low 10.85% Equity Float 486.24
Shares Out 31.12.2012 488.1 Short Int 13.28
368.50 1 Yr Total Return -63.17%
Total Debt 4.26 YTD Return -47.75%
Preferred Stock 0.0 Adjusted BETA 1.170
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 185.40 Consensus Rating 4.357
Enterprise Value 519.25
Average Volume 5 Day 7'614'050
SBM AU EQUITY YTD Change - Average Volume 30 Day 4'459'617
SBM AU EQUITY YTD % CHANGE - Average Volume 3 Month 3'786'546
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
143.1 281.1 296.8 359.6 541.2 - - 530.9 626.8 - -
3.41x 1.33x 2.01x 1.58x 0.73x - - 0.95x 0.64x - -
(0.1) 50.3 77.2 109.3 224.1 - - 159.2 245.3 - -
- 7.42x 7.74x 5.21x 1.76x - - 3.26x 2.12x - -
(17.3) (76.3) (40.2) 68.6 130.2 - - 40.5 82.7 - -
- - - 9.29x 4.42x - - 9.32x 4.58x - -
EBITDA 224.06 Long-Term Rating Date 15.03.2013
EBIT 133.19 Long-Term Rating B
Operating Margin 24.61% Long-Term Outlook STABLE
Pretax Margin 20.23% Short-Term Rating Date -
Return on Assets 9.10% Short-Term Rating -
Return on Common Equity 13.09%
Return on Capital - EBITDA/Interest Exp. 308.62
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. 164.28
Net Debt/EBITDA 0.75
Gross Margin 50.3% Total Debt/EBITDA 1.08
EBITDA Margin 38.5%
EBIT Margin 21.0% Total Debt/Equity 0.8%
Net Income Margin 24.1% Total Debt/Capital 0.7%
Asset Turnover 0.55
Current Ratio 3.39 Net Fixed Asset Turnover 0.71
Quick Ratio 2.62 Accounts receivable turnover-days 13.29
Debt to Assets 0.62% Inventory Days 75.96
Tot Debt to Common Equity 0.75% Accounts Payable Turnover Day 69.88
Accounts Receivable Turnover 27.54 Cash Conversion Cycle -34.88
Inventory Turnover 4.82
Fiscal Year Ended
St Barbara LtdPrice/Volume
Valuation Analysis
9'933'175.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
M&G INVESTMENT MANAG n/a EXCH 93'372'398 19.13 - 14.02.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 71'596'827 14.67 90'001 31.01.2013 Investment Advisor
VANGUARD GROUP INC n/a EXCH 60'536'881 12.4 9'536'881 29.01.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 38'851'254 7.96 12'768'675 29.04.2013 Investment Advisor
PARADICE INVESTMENT n/a EXCH 19'990'864 4.1 - 13.09.2012 Investment Advisor
UBS n/a ULT-AGG 16'608'948 3.4 512'340 06.09.2012 Unclassified
TRADEWINDS GLOBAL IN n/a EXCH 16'240'544 3.33 (1'270'413) 03.11.2011 Investment Advisor
DIMENSIONAL FUND ADV n/a RNS-RUL8 13'247'660 2.71 22'932 07.09.2012 Investment Advisor
STATE STREET n/a ULT-AGG 12'749'179 2.61 79'914 06.09.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 12'528'000 2.57 - 27.12.2012 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 11'381'043 2.33 (1'335'100) 26.04.2013 Investment Advisor
LSV ASSET MANAGEMENT n/a RNS-RUL8 11'363'061 2.33 684'600 23.07.2012 Investment Advisor
FMR LLC n/a ULT-AGG 10'598'053 2.17 (536'807) 31.03.2013 Investment Advisor
COMMONWEALTH BANK OF n/a RNS-RUL8 8'897'062 1.82 - 31.08.2012 Bank
HUNTER HALL INVESTME n/a RNS-RUL8 7'754'662 1.59 (8'245'338) 12.07.2012 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 6'400'000 1.31 925'000 30.11.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 6'200'627 1.27 (2'413'751) 31.12.2012 Investment Advisor
JCP INVESTMENT PARTN n/a RNS-RUL8 6'032'951 1.24 (326'553) 09.08.2012 Investment Advisor
CENTAURUS CAPITAL LT n/a Short (5'746'460) -1.18 (506'570) 06.09.2012 Investment Advisor
NATIONAL AUSTRALIA B n/a ULT-AGG 5'603'376 1.15 6'496 10.09.2012 Bank
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie MITCH RYAN outperform 5 M 1 12 month 26.04.2013
Goldman Sachs IAN PRESTON neutral/attractive 3 M 1 12 month 24.04.2013
Canaccord Genuity Corp LUKE SMITH buy 5 U 1 12 month 24.04.2013
Bell Potter STEPHEN THOMAS buy 5 M 1 12 month 24.04.2013
Deutsche Bank CHRIS TERRY buy 5 M 2 12 month 23.04.2013
RBC Capital Markets STEUART MCINTYRE outperform 5 M 1 12 month 23.04.2013
E.L. & C. Baillieu SOPHIE SPARTALIS buy 5 M 2 12 month 23.04.2013
Ord Minnett DAVID BRENNAN buy 5 M 1 Not Provided 18.04.2013
Nomura DAVID RADCLYFFE neutral 3 M 1 Not Provided 08.03.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
Evans & Partners Pty Ltd CATHY MOISES Positive 4 U #N/A N/A Not Provided 19.07.2012
Argonaut Securities Pty Ltd TROY IRVIN buy 5 U 3 Not Provided 18.06.2012
Holdings By:
St Barbara Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Premier Gold Mines Limited is a mining and exploration company focused on
developing gold projects worldwide.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 6.79
52-Week Low (18.04.2013) 1.57
Daily Volume
1.99
52-Week High % Change -70.69% Dividend Yield 0.00
52-Week Low % Change 26.75% Beta 1.80
% 52 Week Price Range High/Low 8.05% Equity Float 144.31
Shares Out 30.04.2013 149.4 Short Int 5.28
297.22 1 Yr Total Return -53.72%
Total Debt 18.50 YTD Return -52.62%
Preferred Stock 0.0 Adjusted BETA 1.801
Minority Interest 40.6 Analyst Recs 12
Cash and Equivalents 85.10 Consensus Rating 4.167
Enterprise Value 271.26
Average Volume 5 Day 997'875
PG CN EQUITY YTD Change - Average Volume 30 Day 1'389'443
PG CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'114'837
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.9 0.0 0.0 - -
- - - - - #DIV/0! 2932.95x - - - -
(3.2) (6.2) (13.2) (11.9) (12.5) (5.4) (12.2) (12.5) (12.5) - -
- - - - - 0.00x 0.00x - - - -
0.2 (3.7) (10.9) (16.8) (32.1) (16.8) (32.1) (14.3) (17.8) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -12.54 Long-Term Rating Date -
EBIT -12.60 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -8.06% Short-Term Rating -
Return on Common Equity -9.88%
Return on Capital - EBITDA/Interest Exp. -34.03
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -100.44
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -1.51
EBITDA Margin -1325.5%
EBIT Margin -1366.1% Total Debt/Equity 5.0%
Net Income Margin - Total Debt/Capital 4.3%
Asset Turnover 0.00
Current Ratio 5.74 Net Fixed Asset Turnover 0.00
Quick Ratio 5.59 Accounts receivable turnover-days 302.60
Debt to Assets 3.85% Inventory Days -
Tot Debt to Common Equity 4.95% Accounts Payable Turnover Day 3549.64
Accounts Receivable Turnover 1.21 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Premier Gold Mines LtdPrice/Volume
Valuation Analysis
1'456'023.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 19'258'570 12.9 - 31.03.2013 Investment Advisor
GCIC LTD/CANADA n/a Co File 13'896'800 9.31 3'271'500 31.10.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 11'685'159 7.83 (52'716) 29.04.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 7'832'701 5.25 (10'800) 31.01.2013 Investment Advisor
DOWNIE EWAN S n/a SEDI 3'130'601 2.1 7'500 24.04.2013 n/a
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 2'900'000 1.94 275'000 31.12.2012 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 1'318'700 0.88 233'600 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'299'421 0.87 3'116 26.04.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'166'300 0.78 (502'900) 31.03.2013 Hedge Fund Manager
SHARE SICAV Multiple Portfolios MF-AGG 947'736 0.63 (148'500) 31.12.2012 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 822'618 0.55 163'248 31.12.2012 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 820'314 0.55 - 28.09.2012 Investment Advisor
GBC ASSET MANAGEMENT Multiple Portfolios MF-AGG 812'900 0.54 - 31.12.2011 Investment Advisor
MIDDLEFIELD SECURITI Multiple Portfolios MF-AGG 800'000 0.54 (100'000) 28.03.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 705'900 0.47 - 31.12.2012 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 700'000 0.47 10'000 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 666'247 0.45 59'500 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 574'501 0.38 - 29.04.2013 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 556'136 0.37 (15'100) 28.09.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 548'899 0.37 - 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 4 Not Provided 26.04.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 6 12 month 23.04.2013
Beacon Securities Ltd MICHAEL CURRAN buy 5 M 6 12 month 19.04.2013
Cantor Fitzgerald ROB CHANG buy 5 M 6 12 month 18.04.2013
Laurentian Bank Securities ERIC LEMIEUX speculative buy 4 M 4 12 month 18.04.2013
CIBC World Markets JEFF KILLEEN sector perform 3 M 7 Not Provided 11.04.2013
Canaccord Genuity Corp STEVEN BUTLER speculative buy 4 M 7 12 month 11.04.2013
Octagon Capital Corporation ANNIE ZHANG speculative buy 4 M 6 12 month 02.04.2013
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 M 6 12 month 28.03.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 5 12 month 12.03.2013
Mackie Research Capital Corp. BARRY D ALLAN speculative buy 4 M #N/A N/A Not Provided 30.01.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 17.01.2013
Holdings By:
Premier Gold Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Northern Star Resources Ltd is an Australian Gold Producer with tenement
holdings and gold deposits located in the Ashburton - Pilbara Region of Western
Australia.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (26.11.2012) 1.59
52-Week Low (16.05.2012) 0.61
Daily Volume
0.845
52-Week High % Change -46.69% Dividend Yield 4.14
52-Week Low % Change 39.67% Beta 0.63
% 52 Week Price Range High/Low 26.02% Equity Float 373.08
Shares Out 11.01.2013 424.3 Short Int 4.29
358.51 1 Yr Total Return 22.29%
Total Debt 9.43 YTD Return -30.82%
Preferred Stock 0.0 Adjusted BETA 0.631
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 64.96 Consensus Rating 4.333
Enterprise Value 319.40
Average Volume 5 Day 4'204'245
NST AU EQUITY YTD Change - Average Volume 30 Day 4'350'696
NST AU EQUITY YTD % CHANGE - Average Volume 3 Month 4'304'380
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
- - - 114.9 99.5 - - 133.9 166.8 - -
- - - 1.11x 2.55x - - 2.29x 1.70x - -
(0.1) (5.1) (1.3) 45.1 47.5 - - 75.7 97.4 - -
- - - 2.83x 5.35x - - 4.22x 3.28x - -
(0.1) (4.7) (1.3) 16.3 22.0 - - 33.4 42.5 - -
- - - 7.80x 12.62x - - 11.42x 8.80x - -
EBITDA 47.49 Long-Term Rating Date -
EBIT 30.02 Long-Term Rating -
Operating Margin 30.16% Long-Term Outlook -
Pretax Margin 31.60% Short-Term Rating Date -
Return on Assets 29.17% Short-Term Rating -
Return on Common Equity 42.20%
Return on Capital 38.16% EBITDA/Interest Exp. 89.78
Asset Turnover 1.05% (EBITDA-Capex)/Interest Exp. 40.79
Net Debt/EBITDA -0.68
Gross Margin 57.3% Total Debt/EBITDA 0.20
EBITDA Margin 50.7%
EBIT Margin 34.2% Total Debt/Equity 10.0%
Net Income Margin 22.1% Total Debt/Capital 9.1%
Asset Turnover 1.05
Current Ratio 3.13 Net Fixed Asset Turnover 2.27
Quick Ratio 2.68 Accounts receivable turnover-days 0.11
Debt to Assets 7.03% Inventory Days 67.11
Tot Debt to Common Equity 9.97% Accounts Payable Turnover Day 67.12
Accounts Receivable Turnover 3404.63 Cash Conversion Cycle -39.98
Inventory Turnover 5.45
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Northern Star Resources LtdPrice/Volume
Valuation Analysis
4'592'004.00
Current Price (5/dd/yy) Market Data
'''-----..
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 30'270'942 7.13 (230'268) 26.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 26'706'283 6.29 3'981'558 29.04.2013 Investment Advisor
INVESTMET LIMITED n/a EXCH 21'946'900 5.17 (18'089'000) 30.11.2012 Corporation
PARADICE INVESTMENT n/a EXCH 18'915'010 4.46 (2'872'573) 08.01.2013 Investment Advisor
BEAMENT WILLIAM JAME n/a EXCH 12'134'735 2.86 - 30.11.2012 n/a
JP MORGAN n/a ULT-AGG 11'803'850 2.78 (1'584'461) 28.02.2013 Investment Advisor
FOTIOS MICHAEL GEORG n/a EXCH 7'103'474 1.67 (7'400'000) 30.11.2012 n/a
ROWE CHRISTOPHER n/a EXCH 3'986'195 0.94 - 30.11.2012 n/a
GCIC LTD/CANADA Multiple Portfolios MF-AGG 3'350'000 0.79 3'350'000 31.12.2012 Investment Advisor
MORGAN STANLEY AUSTR n/a EXCH 3'202'580 0.75 (36'529'953) 04.12.2012 Investment Advisor
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 2'250'000 0.53 - 30.06.2012 Investment Advisor
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'095'462 0.49 (15'180) 30.09.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 1'588'462 0.37 38'476 31.07.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'377'303 0.32 108'722 31.03.2013 Investment Advisor
BROWN KAREN ELIZABET n/a Co File 1'191'666 0.28 - 30.06.2012 n/a
MACQUARIE GROUP n/a ULT-AGG 1'168'772 0.28 (310'278) 30.06.2011 Investment Advisor
O'CONNOR PETER EDMUN n/a EXCH 850'000 0.2 - 03.12.2012 n/a
BHR FUND ADVISORS LP Multiple Portfolios MF-AGG 500'000 0.12 100'000 31.01.2013 Investment Advisor
PARRY RAYMOND JOSEPH n/a Co File 378'334 0.09 - 30.06.2012 n/a
OBERWEIS ASSET MANAG Multiple Portfolios MF-AGG 316'200 0.07 316'200 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets STEUART MCINTYRE sector perform 3 M 1 12 month 29.04.2013
Hartleys MIKE MILLIKAN buy 5 M 1 12 month 29.04.2013
Paterson Securities TIM MCCORMACK buy 5 M 1 12 month 29.04.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 1 12 month 29.04.2013
Ord Minnett DAVID BRENNAN buy 5 N 1 Not Provided 17.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 28.02.2013
Holdings By:
Northern Star Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Tanzanian Royalty Exploration Corporation acquires, explores, and develops
mineral properties. The Company explores for gold.
Latest Fiscal Year: 08/2012
LTM as of: 02/yy
52-Week High (21.09.2012) 5.34
52-Week Low (18.04.2013) 2.42
Daily Volume
2.66
52-Week High % Change -50.19% Dividend Yield -
52-Week Low % Change 9.92% Beta 1.25
% 52 Week Price Range High/Low 8.22% Equity Float 92.75
Shares Out 30.04.2013 100.7 Short Int 8.19
267.81 1 Yr Total Return -36.97%
Total Debt 2.07 YTD Return -39.68%
Preferred Stock 0.0 Adjusted BETA 1.251
Minority Interest 0.0 Analyst Recs 0
Cash and Equivalents 20.06 Consensus Rating -
Enterprise Value 256.10
Average Volume 5 Day 304'965
TRX US EQUITY YTD Change - Average Volume 30 Day 491'191
TRX US EQUITY YTD % CHANGE - Average Volume 3 Month 474'594
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.08.2008 31.08.2009 31.08.2010 31.08.2011 31.08.2012 02/yy 02/yy 08/13 Y 08/14 Y 05/13 Q3 08/13 Q4
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(2.9) (3.4) (3.0) (4.3) (5.1) (4.6) (5.0) - - - -
- - - - - 0.00x 0.00x - - - -
(3.7) (4.7) (3.4) (11.1) (8.9) (14.6) (2.2) - - - -
- - - - - 0.00x 0.00x - - - -
EBITDA -5.06 Long-Term Rating Date -
EBIT -5.44 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -3.52% Short-Term Rating -
Return on Common Equity -4.13%
Return on Capital - EBITDA/Interest Exp. -49.26
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -133.96
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -0.21
EBITDA Margin -
EBIT Margin - Total Debt/Equity 4.1%
Net Income Margin - Total Debt/Capital 3.9%
Asset Turnover 0.00
Current Ratio 8.84 Net Fixed Asset Turnover 0.00
Quick Ratio 8.68 Accounts receivable turnover-days -
Debt to Assets 3.28% Inventory Days -
Tot Debt to Common Equity 4.09% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Tanzanian Royalty Exploration CorpPrice/Volume
Valuation Analysis
327'739.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 13'522'725 13.43 526'026 29.04.2013 Investment Advisor
GEIER GROUP LLC n/a 13G 4'879'743 4.85 (4'801'048) 10.11.2011 Other
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 4'088'532 4.06 52'612 31.12.2012 Investment Advisor
SINCLAIR JAMES E n/a SEDI 1'885'543 1.87 (1'000) 08.02.2013 n/a
BPI GLOBAL INVESTMEN Multiple Portfolios MF-AGG 673'902 0.67 (37'877) 28.09.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 515'272 0.51 826 26.04.2013 Investment Advisor
MORROW ROSALIND n/a SEDI 429'429 0.43 5'382 11.03.2013 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 419'292 0.42 5'200 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 367'112 0.36 141'200 31.12.2012 Pension Fund (ERISA)
HARVEY WILLIAM M n/a SEDI 340'090 0.34 7'732 12.04.2013 n/a
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 334'811 0.33 4'654 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 318'244 0.32 - 29.04.2013 Investment Advisor
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 287'556 0.29 102'344 31.03.2013 Investment Advisor
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 212'810 0.21 250 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 167'687 0.17 134'479 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 145'569 0.14 20'891 31.12.2012 Investment Advisor
LUIS VICTORIA n/a 20F 144'045 0.14 - 31.10.2012 n/a
VAN TONGEREN STEVEN n/a SEDI 124'119 0.12 25'000 18.04.2013 n/a
ALTUS CAPITAL INC ALTUS CAPITAL INC 13F 104'500 0.1 56'500 31.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 97'451 0.1 (17'701) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
#N/A N/A
Holdings By:
Tanzanian Royalty Exploration Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Real Gold Mining Limited mines gold and processes ore into concentrates
containing gold and other minerals for subsequent sale.
Latest Fiscal Year: 12/2010
LTM as of: 06/yy
52-Week High (10.05.2012) 8.81
52-Week Low (10.05.2012) 8.81
Daily Volume
8.81
52-Week High % Change 0.00% Dividend Yield 0.60
52-Week Low % Change 0.00% Beta 0.33
% 52 Week Price Range High/Low 0.00% Equity Float 429.41
Shares Out 21.09.2011 908.8 Short Int -
8'006.41 1 Yr Total Return 0.00%
Total Debt 0.00 YTD Return 0.00%
Preferred Stock 0.0 Adjusted BETA 0.331
Minority Interest 135.1 Analyst Recs 1
Cash and Equivalents 2'965.19 Consensus Rating 5.000
Enterprise Value 3'831.08
Average Volume 5 Day 0
246 HK EQUITY YTD Change - Average Volume 30 Day 0
246 HK EQUITY YTD % CHANGE - Average Volume 3 Month 0
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2006 31.12.2007 31.12.2008 31.12.2009 31.12.2010 06/yy 06/yy 12/11 Y 12/12 Y 09/11 Q3 12/11 Q4
- 8.0 312.3 1'011.2 1'368.2 1'185.7 1'523.7 - - - -
- - - 5.88x 5.55x 0.00x 0.00x - - - -
(0.1) (1.1) 190.4 768.9 1'187.9 0.0 0.0 - - - -
- - - 7.73x 6.39x 0.00x 0.00x - - - -
(0.1) (2.2) 103.9 526.7 798.0 650.8 831.3 - - - -
- - - 13.02x 12.06x 0.00x 0.00x - - - -
EBITDA 1'187.92 Long-Term Rating Date -
EBIT 1'149.66 Long-Term Rating -
Operating Margin 84.03% Long-Term Outlook -
Pretax Margin 80.97% Short-Term Rating Date -
Return on Assets 19.98% Short-Term Rating -
Return on Common Equity 22.56%
Return on Capital 22.32% EBITDA/Interest Exp. -
Asset Turnover 0.34% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -2.50
Gross Margin 77.3% Total Debt/EBITDA 0.00
EBITDA Margin 86.8%
EBIT Margin 84.0% Total Debt/Equity 0.0%
Net Income Margin 58.3% Total Debt/Capital 0.0%
Asset Turnover 0.34
Current Ratio 18.07 Net Fixed Asset Turnover 3.23
Quick Ratio 17.99 Accounts receivable turnover-days 8.79
Debt to Assets 0.00% Inventory Days 8.12
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 0.25
Accounts Receivable Turnover 41.52 Cash Conversion Cycle 16.66
Inventory Turnover 44.95
Fiscal Year Ended
Real Gold Mining LtdPrice/Volume
Valuation Analysis
0.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'-.0123456
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0.0
200.0
400.0
600.0
800.0
1'000.0
1'200.0
1'400.0
1'600.0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CITIGROUP INCORPORAT n/a EXCH 245'182'757 26.98 - 12.06.2012 Investment Advisor
LV DEZHI n/a EXCH 226'250'667 24.9 - 27.09.2012 n/a
LEAD HONEST MANAGEME n/a Research 140'000'000 15.41 (234'376'000) 26.09.2012 Other
LEAD HONEST MANAGEME n/a Short (126'967'191) -13.97 - 31.12.2011 Other
SHI GUANGWEI n/a EXCH 113'125'333 12.45 - 27.09.2012 n/a
VALUE PARTNERS GROUP n/a ULT-AGG 77'678'000 8.55 - 26.09.2012 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 19'288'900 2.12 - 29.04.2013 Investment Advisor
GCIC LTD/CANADA Multiple Portfolios MF-AGG 17'816'505 1.96 - 31.12.2012 Investment Advisor
MANULIFE FUNDS DIREC Multiple Portfolios MF-AGG 16'916'500 1.86 - 30.06.2012 Unclassified
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 10'673'000 1.17 - 28.02.2013 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 9'609'000 1.06 - 28.02.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 7'861'000 0.86 - 31.12.2012 Bank
JP MORGAN n/a ULT-AGG 6'089'500 0.67 - 31.12.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 4'353'500 0.48 - 30.06.2011 Investment Advisor
DEKA INVESTMENT GMBH Multiple Portfolios MF-AGG 4'103'427 0.45 - 28.12.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 4'097'000 0.45 - 31.07.2012 Investment Advisor
FIDEURAM GESTIONS SA Multiple Portfolios MF-AGG 2'762'500 0.3 - 02.04.2013 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 2'500'500 0.28 - 28.02.2013 Investment Advisor
CITIGROUP INCORPORAT n/a Short (2'409'129) -0.27 - 12.06.2012 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 1'788'000 0.2 - 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TEAM COVERAGE buy 5 N #N/A N/A Not Provided 14.07.2012
BOCOM International Holdings RONGJIN LUO neutral 3 D 9 12 month 03.06.2011
Kingsway SW Securities ZIBO CHEN buy 5 M 19 Not Provided 14.03.2011
Holdings By:
Real Gold Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Golden Star Resources Ltd. is a mid-tier gold mining company. The Company's
operating mines are situated along the Ashanti Gold Belt in Ghana, West Africa.
Latest Fiscal Year: 12/1997
LTM as of: 12/yy
52-Week High (16.10.2012) 2.11
52-Week Low (09.05.2013) 0.83
Daily Volume
0.84
52-Week High % Change -60.19% Dividend Yield 0.00
52-Week Low % Change 1.82% Beta 1.08
% 52 Week Price Range High/Low 1.17% Equity Float 257.69
Shares Out 30.04.2013 259.1 Short Int 12.89
217.65 1 Yr Total Return -42.86%
Total Debt 117.48 YTD Return -54.35%
Preferred Stock 0.0 Adjusted BETA 1.083
Minority Interest (2.0) Analyst Recs 10
Cash and Equivalents 78.88 Consensus Rating 2.400
Enterprise Value 254.24
Average Volume 5 Day 2'716'670
GSS US EQUITY YTD Change - Average Volume 30 Day 2'320'868
GSS US EQUITY YTD % CHANGE - Average Volume 3 Month 2'057'891
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
257.4 - 432.7 471.0 550.5 471.0 550.5 504.7 496.4 126.0 128.3
1.43x - 2.72x 0.98x 0.95x 4.90x 3.58x 0.64x 0.61x 2.20x 2.25x
1.8 - 107.6 91.8 124.7 91.8 125.8 87.8 122.5 28.9 28.9
200.09x - 10.93x 5.00x 4.18x 5.00x 4.14x 2.90x 2.07x 2.23x 2.26x
(119.3) - (11.2) (2.1) (9.5) (2.1) (9.5) 0.8 32.3 2.1 2.1
- - - - - 0.00x 0.00x - 7.06x 16.80x 9.23x
EBITDA 124.67 Long-Term Rating Date -
EBIT 25.74 Long-Term Rating -
Operating Margin 4.68% Long-Term Outlook -
Pretax Margin 1.20% Short-Term Rating Date -
Return on Assets -1.31% Short-Term Rating -
Return on Common Equity -2.17%
Return on Capital -4.61% EBITDA/Interest Exp. 12.27
Asset Turnover 0.76% (EBITDA-Capex)/Interest Exp. 3.56
Net Debt/EBITDA 0.31
Gross Margin 9.6% Total Debt/EBITDA 0.93
EBITDA Margin 22.8%
EBIT Margin 4.7% Total Debt/Equity 27.1%
Net Income Margin -1.7% Total Debt/Capital 21.4%
Asset Turnover 0.76
Current Ratio 1.58 Net Fixed Asset Turnover 1.06
Quick Ratio 0.69 Accounts receivable turnover-days 7.30
Debt to Assets 16.18% Inventory Days 60.50
Tot Debt to Common Equity 27.10% Accounts Payable Turnover Day 69.08
Accounts Receivable Turnover 50.11 Cash Conversion Cycle -1.28
Inventory Turnover 6.05
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Golden Star Resources LtdPrice/Volume
Valuation Analysis
5'142'076.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 39'316'268 15.17 - 29.04.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 30'238'600 11.67 (350'000) 31.12.2012 Investment Advisor
HEARTLAND ADVISORS I HEARTLAND ADVISORS I 13F 25'985'870 10.03 (1'326'930) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 10'793'356 4.17 723'887 26.04.2013 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 6'281'374 2.42 1'230'943 31.12.2012 Hedge Fund Manager
STATE STREET n/a ULT-AGG 4'897'831 1.89 12'016 29.04.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 4'819'436 1.86 (1'475'687) 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'713'690 1.43 3'703'206 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 3'486'925 1.35 2'002'700 31.12.2012 Pension Fund (ERISA)
PRINCIPAL FINANCIAL n/a ULT-AGG 3'093'334 1.19 1'200'671 31.12.2012 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 3'064'953 1.18 (52'441) 31.12.2012 Investment Advisor
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 2'625'741 1.01 125'700 31.12.2012 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 2'259'552 0.87 1'129'776 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 1'934'059 0.75 - 31.12.2012 Government
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 1'870'572 0.72 1'267'792 31.03.2013 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 1'845'827 0.71 139'300 28.02.2013 Investment Advisor
NEW YORK STATE COMMO NEW YORK STATE COMMO 13F 1'725'479 0.67 206'700 31.12.2012 Pension Fund (ERISA)
SYSTEMATIC FINANCIAL SYSTEMATIC FINANCIAL 13F 1'647'710 0.64 277'080 31.12.2012 Investment Advisor
LEGG MASON CAPITAL M Multiple Portfolios MF-AGG 1'467'781 0.57 - 31.03.2013 Investment Advisor
GOLDMAN SACHS GROUP GOLDMAN SACHS GROUP 13F 1'164'787 0.45 (51'919) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie PIERRE VAILLANCOURT neutral 3 M 1 12 month 25.04.2013
Raymond James BRAD HUMPHREY market perform 3 M 2 12 month 24.04.2013
Scotia Capital TREVOR TURNBULL sector underperform 1 D 1 12 month 23.04.2013
Credit Suisse ANITA SONI underperform 1 M 1 Not Provided 22.04.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 2 Not Provided 15.04.2013
Canaccord Genuity Corp RAHUL PAUL hold 3 M 2 12 month 15.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 2 Not Provided 11.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 3 12 month 09.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 04.04.2013
Holdings By:
Golden Star Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Romarco Minerals, Inc. is an emerging gold producer. The Company's flagship
project is the Haile Gold Mine in South Carolina.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (17.09.2012) 1.40
52-Week Low (23.04.2013) 0.39
Daily Volume
0.425
52-Week High % Change -69.64% Dividend Yield 0.00
52-Week Low % Change 8.28% Beta 1.18
% 52 Week Price Range High/Low 3.23% Equity Float 581.16
Shares Out 30.04.2013 585.4 Short Int 0.44
248.79 1 Yr Total Return -54.30%
Total Debt 0.00 YTD Return -44.81%
Preferred Stock 0.0 Adjusted BETA 1.177
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 64.78 Consensus Rating 4.167
Enterprise Value 197.80
Average Volume 5 Day 857'530
R CN EQUITY YTD Change - Average Volume 30 Day 1'658'560
R CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'387'329
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.6) (7.3) (65.4) (15.3) (11.8) (15.3) (11.8) (8.0) (8.0) - -
- - - - - 0.00x 0.00x - - - -
(4.5) (7.2) (66.2) (15.7) (11.9) (15.7) (11.9) (7.8) (12.0) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -11.81 Long-Term Rating Date -
EBIT -12.13 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -4.72% Short-Term Rating -
Return on Common Equity -4.88%
Return on Capital - EBITDA/Interest Exp. -58.20
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -263.13
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 5.88 Net Fixed Asset Turnover 0.00
Quick Ratio 5.81 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Romarco Minerals IncPrice/Volume
Valuation Analysis
1'075'150.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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0.2
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 149'342'975 25.53 28'590'375 26.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 46'813'508 8 (211'188) 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 46'766'500 7.99 (470'500) 31.01.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 30'127'000 5.15 - 28.02.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 21'188'200 3.62 53'500 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 19'245'100 3.29 85'000 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 15'429'733 2.64 - 28.02.2013 Investment Advisor
COMMONWEALTH BANK OF Multiple Portfolios MF-AGG 11'682'793 2 (147'237) 31.01.2013 Bank
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 11'093'500 1.9 (147'500) 31.12.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 8'551'000 1.46 - 27.12.2012 Hedge Fund Manager
GAMCO n/a ULT-AGG 5'550'000 0.95 - 31.12.2012 Unclassified
QUANTEX AG Multiple Portfolios MF-AGG 3'750'000 0.64 (100'000) 29.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 3'000'000 0.51 - 31.12.2012 Bank
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 2'975'080 0.51 - 28.09.2012 Investment Advisor
SHARE SICAV Multiple Portfolios MF-AGG 2'828'384 0.48 (520'200) 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'703'235 0.46 205'500 31.03.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 2'266'700 0.39 - 31.12.2012 Hedge Fund Manager
COLONIAL FIRST STATE Multiple Portfolios MF-AGG 1'959'403 0.33 - 19.10.2012 Investment Advisor
GARRETT DIANE RENEE n/a SEDI 1'568'000 0.27 31'500 19.04.2013 n/a
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 1'361'600 0.23 - 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cormark Securities Inc. RICHARD GRAY buy 5 M 1 12 month 22.04.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 1 Not Provided 15.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 2 12 month 09.04.2013
RBC Capital Markets SAM CRITTENDEN sector perform 3 M 1 12 month 02.04.2013
Paradigm Capital Inc DON BLYTH speculative buy 4 M 2 12 month 11.03.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 N 2 12 month 28.09.2012
Holdings By:
Romarco Minerals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Banro Corporation, through its subsidiary, explores and develops gold
properties. The Company currently holds mining permits and mining concessions
in the Democratic Republic of Congo in Africa.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (07.09.2012) 5.03
52-Week Low (07.05.2013) 0.95
Daily Volume
1.11
52-Week High % Change -77.93% Dividend Yield 0.00
52-Week Low % Change 16.84% Beta 1.90
% 52 Week Price Range High/Low 3.92% Equity Float 249.62
Shares Out 30.04.2013 252.1 Short Int 6.26
279.83 1 Yr Total Return -72.11%
Total Debt 154.69 YTD Return -60.07%
Preferred Stock 0.0 Adjusted BETA 1.898
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 27.05 Consensus Rating 2.600
Enterprise Value 405.59
Average Volume 5 Day 2'566'960
BAA CN EQUITY YTD Change - Average Volume 30 Day 2'226'766
BAA CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'226'717
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 42.6 0.0 42.6 150.3 378.3 31.4 25.7
- - - - 16.23x #DIV/0! 80.50x - - - -
(6.2) (7.6) (10.3) (10.2) 6.0 (10.2) 6.0 47.0 179.0 - -
- - - - 114.64x 0.00x 114.64x 8.63x 2.27x - -
(8.5) (4.8) (3.0) (9.3) (4.6) (9.3) (4.6) (1.9) 82.5 - -
9.34x - - - - 0.00x 0.00x - 3.36x 9.19x 5.38x
EBITDA 6.03 Long-Term Rating Date -
EBIT -2.06 Long-Term Rating -
Operating Margin -4.84% Long-Term Outlook -
Pretax Margin -10.70% Short-Term Rating Date -
Return on Assets -0.86% Short-Term Rating -
Return on Common Equity -1.12%
Return on Capital - EBITDA/Interest Exp. 2.62
Asset Turnover 0.08% (EBITDA-Capex)/Interest Exp. -57.93
Net Debt/EBITDA 21.15
Gross Margin 29.2% Total Debt/EBITDA 25.64
EBITDA Margin 14.2%
EBIT Margin -4.8% Total Debt/Equity 36.5%
Net Income Margin -10.7% Total Debt/Capital 26.8%
Asset Turnover 0.08
Current Ratio 1.06 Net Fixed Asset Turnover 0.11
Quick Ratio 0.47 Accounts receivable turnover-days -
Debt to Assets 24.33% Inventory Days -
Tot Debt to Common Equity 36.54% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Banro CorpPrice/Volume
Valuation Analysis
4'269'365.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 29'151'624 11.56 - 26.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 24'223'469 9.61 72'185 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 16'155'784 6.41 (72'888) 29.04.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 14'067'000 5.58 4'088'200 31.12.2012 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 12'785'907 5.07 651'407 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 10'721'545 4.25 41'100 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 9'020'360 3.58 (1'648'935) 31.03.2013 Investment Advisor
ACUITY INVESTMENT MA ACUITY INVESTMENT MA 13F 8'156'000 3.24 3'531'100 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4'835'785 1.92 778'978 31.12.2012 Investment Advisor
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 4'085'541 1.62 1'766'536 31.12.2012 Investment Advisor
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 4'023'371 1.6 1'791'580 31.12.2012 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 3'887'474 1.54 (135'897) 28.02.2013 Investment Advisor
FIERA CAPITAL CORPOR Multiple Portfolios MF-AGG 3'824'682 1.52 (593'900) 31.01.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'304'615 0.91 (316'700) 31.12.2012 Pension Fund (ERISA)
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 2'152'177 0.85 (4'660'861) 31.03.2013 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 2'051'416 0.81 (1'218'959) 31.12.2012 Investment Advisor
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 2'026'058 0.8 (41'296) 31.03.2013 Hedge Fund Manager
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'879'400 0.75 - 31.12.2012 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 1'842'700 0.73 (641'000) 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'715'800 0.68 (266'100) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CIBC World Markets COSMOS CHIU sector perform 3 M 4 Not Provided 29.04.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 2 Not Provided 25.04.2013
GMP BROCK SALIER buy 5 M 2 Not Provided 25.04.2013
Cormark Securities Inc. MIKE KOZAK restricted #N/A N/A M #N/A N/A Not Provided 22.04.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 10.04.2013
Goldman Sachs EUGENE KING neutral/neutral 3 M 3 12 month 15.03.2013
Holdings By:
Banro Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Colossus Minerals Inc. is a mineral exploration and production company. The
Company explores for and develops gold-platinum-palladium properties in Brazil.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (20.09.2012) 6.03
52-Week Low (18.04.2013) 1.73
Daily Volume
2.16
52-Week High % Change -64.18% Dividend Yield 0.00
52-Week Low % Change 24.86% Beta 1.56
% 52 Week Price Range High/Low 10.00% Equity Float 90.39
Shares Out 30.04.2013 107.0 Short Int 3.06
231.02 1 Yr Total Return -49.41%
Total Debt 72.14 YTD Return -53.15%
Preferred Stock 0.0 Adjusted BETA 1.560
Minority Interest 2.7 Analyst Recs 5
Cash and Equivalents 63.59 Consensus Rating 4.600
Enterprise Value 240.71
Average Volume 5 Day 623'527
CSI CN EQUITY YTD Change - Average Volume 30 Day 1'383'273
CSI CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'492'868
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.07.2008 31.07.2009 31.07.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 41.6 285.7 - -
- - - - - #DIV/0! #DIV/0! 4.81x 0.08x - -
(2.5) (2.7) (9.5) (29.3) (32.9) (29.3) (32.9) 11.9 204.0 (6.8) (6.8)
- - - - - 0.00x 0.00x 20.23x 1.18x 20.09x 4.13x
(2.3) (4.6) (9.7) (32.1) (30.1) (32.1) (30.1) (6.6) 135.7 (8.6) (8.6)
- - - - - 0.00x 0.00x - 2.58x - 6.29x
EBITDA -32.86 Long-Term Rating Date -
EBIT -33.29 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -11.68% Short-Term Rating -
Return on Common Equity -23.01%
Return on Capital - EBITDA/Interest Exp. -7.02
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -26.45
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -2.20
EBITDA Margin -
EBIT Margin - Total Debt/Equity 62.4%
Net Income Margin - Total Debt/Capital 37.9%
Asset Turnover 0.00
Current Ratio 4.66 Net Fixed Asset Turnover 0.00
Quick Ratio 4.55 Accounts receivable turnover-days -
Debt to Assets 25.80% Inventory Days -
Tot Debt to Common Equity 62.37% Accounts Payable Turnover Day 3704.00
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover 0.00
Fiscal Year Ended
Colossus Minerals IncPrice/Volume
Valuation Analysis
977'512.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
-
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1
2
3
4
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0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ARIAS RESOURCE CAPIT #N/A N/A Co File 13'223'900 12.36 - 22.04.2013 Private Equity
ACUITY INVESTMENT MA n/a Co File 10'530'371 9.85 - 31.10.2012 Investment Advisor
SPROTT ASSET MANAGEM n/a Co File 9'947'500 9.3 (1'572'900) 28.02.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 9'252'403 8.65 (37'308) 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 4'883'500 4.57 29'000 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'860'635 3.61 397'528 31.03.2013 Investment Advisor
SUSSMAN ARI B n/a SEDI 1'761'401 1.65 50'000 27.06.2012 n/a
MCLEAN BUDDEN LTD Multiple Portfolios MF-AGG 1'459'400 1.36 (37'490) 28.02.2013 Investment Advisor
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 1'151'864 1.08 (6'989) 28.02.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 1'060'133 0.99 4 31.12.2012 Investment Advisor
JP MORGAN n/a ULT-AGG 1'049'000 0.98 - 31.12.2012 Investment Advisor
KISHIDA AUGUSTO n/a SEDI 958'000 0.9 - 09.08.2012 n/a
BLACKROCK n/a ULT-AGG 699'201 0.65 871 26.04.2013 Investment Advisor
DEUTSCHE BANK AG Multiple Portfolios MF-AGG 527'115 0.49 (6'612) 28.02.2013 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 525'000 0.49 - 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 486'563 0.45 - 31.03.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 321'612 0.3 - 28.09.2012 Investment Advisor
FROSTIAK JOHN n/a SEDI 229'800 0.21 50'000 16.02.2013 n/a
FIRST CANADIAN MUTUA Multiple Portfolios MF-AGG 207'600 0.19 - 30.11.2012 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 180'500 0.17 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities JAMIE SPRATT speculative buy 4 M 8 12 month 29.04.2013
Stifel CRAIG P STANLEY buy 5 M 4 Not Provided 26.04.2013
Macquarie MICHAEL GRAY outperform 5 M 3 12 month 25.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 8 12 month 11.04.2013
GMP GEORGE V ALBINO buy 5 M 12 Not Provided 01.04.2013
Holdings By:
Colossus Minerals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Rainy River Resources Ltd. is a gold exploration and production company.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.10.2012) 6.17
52-Week Low (17.04.2013) 1.97
Daily Volume
2.26
52-Week High % Change -63.37% Dividend Yield 0.00
52-Week Low % Change 14.72% Beta 1.14
% 52 Week Price Range High/Low 6.90% Equity Float 97.77
Shares Out 30.04.2013 100.0 Short Int 0.57
225.94 1 Yr Total Return -39.73%
Total Debt 0.13 YTD Return -54.53%
Preferred Stock 0.0 Adjusted BETA 1.137
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 102.12 Consensus Rating 4.000
Enterprise Value 123.95
Average Volume 5 Day 441'234
RR CN EQUITY YTD Change - Average Volume 30 Day 543'074
RR CN EQUITY YTD % CHANGE - Average Volume 3 Month 752'907
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2007 30.09.2008 30.09.2009 30.09.2010 30.09.2011 09/yy 12/yy 12/12 Y 12/13 Y 12/12 Q4 03/13 Q1
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 1.0 - -
- - - - - #DIV/0! #DIV/0! - 128.34x - -
(4.2) (2.6) (4.2) (9.1) (16.1) (16.1) (64.6) - (15.2) - -
- - - - - 0.00x 0.00x - - - -
(1.8) (1.0) (3.6) (6.8) (13.5) (13.5) (65.9) - (22.2) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -64.60 Long-Term Rating Date -
EBIT -64.98 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -33.90% Short-Term Rating -
Return on Common Equity -35.35%
Return on Capital - EBITDA/Interest Exp. -10003.84
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -12740.42
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.1%
Net Income Margin - Total Debt/Capital 0.1%
Asset Turnover 0.00
Current Ratio 15.73 Net Fixed Asset Turnover 0.00
Quick Ratio 15.71 Accounts receivable turnover-days -
Debt to Assets 0.08% Inventory Days -
Tot Debt to Common Equity 0.09% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Rainy River Resources LtdPrice/Volume
Valuation Analysis
540'081.00
Current Price (5/dd/yy) Market Data
'
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 10'085'221 10.09 920'049 29.04.2013 Investment Advisor
SALIDA CAPITAL LP n/a Co File 8'043'070 8.05 (655'430) 30.11.2011 Investment Advisor
FMR LLC n/a ULT-AGG 3'380'400 3.38 359'000 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 3'170'900 3.17 313'000 28.02.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 1'756'100 1.76 - 31.01.2013 Investment Advisor
BEREZAN LEO n/a SEDI 1'334'048 1.33 17'000 22.05.2012 n/a
QUANTEX AG Multiple Portfolios MF-AGG 830'000 0.83 118'000 29.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 800'000 0.8 800'000 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 624'538 0.62 823 26.04.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 539'677 0.54 14'692 26.04.2013 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 538'228 0.54 (409'100) 28.02.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 453'100 0.45 (2'600) 31.12.2012 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 401'000 0.4 - 28.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 399'600 0.4 - 31.03.2013 Investment Advisor
AVERILL STUART ALLAN n/a SEDI 360'000 0.36 5'000 06.02.2013 n/a
LAZARIDIS MICHAEL n/a SEDI 355'000 0.36 - 14.03.2012 n/a
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 343'467 0.34 - 28.09.2012 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 315'943 0.32 - 29.04.2013 Investment Advisor
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 300'000 0.3 - 30.06.2012 Investment Advisor
SOCIETE GENERALE Multiple Portfolios MF-AGG 255'600 0.26 (25'700) 31.12.2012 Bank
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY hold 3 M #N/A N/A Not Provided 26.04.2013
Scotia Capital LEILY OMOUMI sector outperform 5 M 6 12 month 23.04.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M #N/A N/A Not Provided 14.04.2013
CIBC World Markets JEFF KILLEEN sector perform 3 M 7 Not Provided 12.04.2013
Desjardins Securities ADAM MELNYK buy 5 M 6 12 month 12.04.2013
Casimir Capital ERIC WINMILL speculative buy 4 M 7 12 month 12.04.2013
RBC Capital Markets SAM CRITTENDEN sector perform 3 M 5 12 month 11.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 8 12 month 11.04.2013
Paradigm Capital Inc DON BLYTH speculative buy 4 M 9 12 month 17.09.2012
Holdings By:
Rainy River Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Sulliden Gold Corp Ltd. is a mineral exploration company. The Company is
focused on the development of its Shahuindo Gold Project located in northern
Peru.
Latest Fiscal Year: 04/2012
LTM as of: 01/yy
52-Week High (23.08.2012) 1.44
52-Week Low (15.04.2013) 0.66
Daily Volume
0.81
52-Week High % Change -43.83% Dividend Yield 0.00
52-Week Low % Change 22.73% Beta 1.46
% 52 Week Price Range High/Low 19.18% Equity Float 236.50
Shares Out 30.04.2013 270.7 Short Int 0.18
219.30 1 Yr Total Return -19.00%
Total Debt 0.00 YTD Return -12.90%
Preferred Stock 0.0 Adjusted BETA 1.455
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 47.34 Consensus Rating 4.778
Enterprise Value 199.47
Average Volume 5 Day 1'190'598
SUE CN EQUITY YTD Change - Average Volume 30 Day 860'395
SUE CN EQUITY YTD % CHANGE - Average Volume 3 Month 749'042
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.04.2008 30.04.2009 30.04.2010 30.04.2011 30.04.2012 01/yy 01/yy 04/13 Y 04/14 Y 04/13 Q4 07/13 Q1
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(2.5) - (6.2) (8.8) (11.9) (11.8) (4.3) (5.2) (7.4) - -
- - - - - 0.00x 0.00x - - - -
(4.2) (2.6) (4.4) (10.3) (13.3) (13.6) (4.9) (3.6) (11.3) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -11.95 Long-Term Rating Date -
EBIT -11.95 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -2.59% Short-Term Rating -
Return on Common Equity -2.69%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -0.05
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 23.62 Net Fixed Asset Turnover 0.00
Quick Ratio 23.62 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Sulliden Gold Corp LtdPrice/Volume
Valuation Analysis
1'308'849.00
Current Price (5/dd/yy) Market Data
'
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0.3
0.3
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
AGNICO-EAGLE MINES L n/a SEDI 26'966'292 9.96 - 09.04.2013 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 19'129'502 7.07 (86'160) 29.04.2013 Investment Advisor
ABERDEEN INTERNATION n/a Co File 15'904'572 5.87 - 31.07.2012 Unclassified
ROYAL BANK OF CANADA n/a ULT-AGG 9'517'800 3.52 - 31.12.2012 Bank
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 5'573'512 2.06 12 31.01.2013 Investment Advisor
FMR LLC n/a ULT-AGG 5'403'200 2 2'332'800 31.03.2013 Investment Advisor
BEUTEL GOODMAN & COM Multiple Portfolios MF-AGG 5'166'300 1.91 - 28.02.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 2'907'900 1.07 - 31.01.2013 Investment Advisor
ACUITY INVESTMENT MA Multiple Portfolios MF-AGG 2'341'926 0.87 (730'700) 28.09.2012 Investment Advisor
BHARTI STAN n/a SEDI 1'563'955 0.58 (325'000) 08.02.2013 n/a
FERNANDEZ-CONCHA STU n/a SEDI 1'435'000 0.53 250'000 20.10.2011 n/a
COLEMAN JAMES H n/a SEDI 1'108'614 0.41 - 21.10.2011 n/a
FIRST TRUST ADVISORS Multiple Portfolios MF-AGG 920'363 0.34 46'526 28.03.2013 Investment Advisor
HUMPHREY RAYMOND BRU n/a PROXY 862'978 0.32 - 05.09.2012 n/a
MOORE GEOFFREY S n/a SEDI 829'423 0.31 100'000 04.10.2012 n/a
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 800'000 0.3 - 30.06.2012 Investment Advisor
FRONT BARNETT ASSOCI FRONT BARNETT ASSOCI 13F 609'700 0.23 - 31.12.2012 Investment Advisor
AMIREAULT STEPHANE n/a SEDI 516'500 0.19 200'000 30.03.2013 n/a
SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 510'000 0.19 - 28.02.2013 Investment Advisor
NCF SOC ADMIN DE FON Multiple Portfolios MF-AGG 375'000 0.14 - 03.08.2011 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cormark Securities Inc. RICHARD GRAY buy 5 M 2 12 month 22.04.2013
Raymond James GARY J BASCHUK Under Review #N/A N/A M #N/A N/A Not Provided 18.04.2013
BMO Capital Markets ANDREW KAIP speculative outperform 4 M 1 Not Provided 16.04.2013
Desjardins Securities ADAM MELNYK buy 5 M 2 Not Provided 16.04.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 2 Not Provided 16.04.2013
GMP GEORGE V ALBINO buy 5 M 2 12 month 16.04.2013
Kallpa Securities SAB HUMBERTO LEON overweight 5 M 2 12 month 12.04.2013
National Bank Financial STEPHEN PARSONS outperform 5 M 2 12 month 10.04.2013
Mine2Capital Inc ALKA SINGH buy 5 N 2 Not Provided 24.12.2012
Holdings By:
Sulliden Gold Corp Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Asanko Gold Inc. is a gold development company focussing on near term gold
production at its Esaase gold project in Ghana, West Africa.
Latest Fiscal Year: 03/2012
LTM as of: 12/yy
52-Week High (09.11.2012) 4.39
52-Week Low (17.04.2013) 2.26
Daily Volume
2.39
52-Week High % Change -45.56% Dividend Yield 0.00
52-Week Low % Change 5.75% Beta 1.43
% 52 Week Price Range High/Low 6.10% Equity Float 75.26
Shares Out 30.04.2013 85.0 Short Int 0.19
203.23 1 Yr Total Return -20.60%
Total Debt 0.00 YTD Return -39.49%
Preferred Stock 0.0 Adjusted BETA 1.434
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 197.61 Consensus Rating 3.625
Enterprise Value 16.05
Average Volume 5 Day 148'477
AKG CN EQUITY YTD Change - Average Volume 30 Day 200'623
AKG CN EQUITY YTD % CHANGE - Average Volume 3 Month 264'262
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2008 31.03.2009 31.03.2010 31.03.2011 31.03.2012 12/yy 12/yy 03/13 Y 03/14 Y 03/13 Q4 06/13 Q1
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(4.0) (3.2) (6.3) (38.4) (35.6) (49.2) (31.2) (11.3) (14.0) - -
- - - - - 0.00x 0.00x - - - -
(4.2) (3.7) (6.4) (34.9) (38.2) (41.4) (21.6) (12.3) (24.8) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -35.61 Long-Term Rating Date -
EBIT -36.23 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -8.07% Short-Term Rating -
Return on Common Equity -8.49%
Return on Capital - EBITDA/Interest Exp. -628.60
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -658.98
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 41.24 Net Fixed Asset Turnover 0.00
Quick Ratio 41.05 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Asanko Gold IncPrice/Volume
Valuation Analysis
105'134.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'--..001122
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0.0
0.0
0.0
0.0
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0.0
0.0
0.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 8'861'057 10.42 898'582 29.04.2013 Investment Advisor
HIGHLAND PARK SA n/a SEDI 8'191'174 9.63 - 13.11.2012 Other
BLACKROCK n/a ULT-AGG 5'720'748 6.73 - 26.04.2013 Investment Advisor
BEUTEL GOODMAN & COM n/a 13G 5'457'500 6.42 477'500 31.12.2012 Investment Advisor
SPROTT INC n/a 13G 3'702'527 4.35 (546'938) 31.12.2012 Hedge Fund Manager
MACKENZIE FINANCIAL MACKENZIE FINANCIAL 13F 3'640'600 4.28 1'480'300 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 3'234'225 3.8 - 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 3'195'867 3.76 (506'660) 31.03.2013 Hedge Fund Manager
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 1'248'900 1.47 382'700 31.12.2012 Investment Advisor
SALI ROBERT J n/a SEDI 830'000 0.98 150'000 16.05.2012 n/a
ROYAL BANK OF CANADA n/a ULT-AGG 668'544 0.79 652'571 31.12.2012 Bank
BANK OF AMERICA CORP BANK OF AMERICA 13F 558'000 0.66 515'800 31.12.2012 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 451'000 0.53 - 28.02.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 372'849 0.44 5'600 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 350'000 0.41 - 28.02.2013 Investment Advisor
SEAMANS CAPITAL MANA SEAMANS CAPITAL MANA 13F 318'200 0.37 318'200 31.12.2012 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 268'862 0.32 - 29.04.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 267'599 0.31 (12'274) 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 243'326 0.29 (311'900) 31.12.2012 Pension Fund (ERISA)
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 240'667 0.28 (79'196) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities NANA SANGMUAH buy 5 M 6 12 month 29.04.2013
Scotia Capital LEILY OMOUMI sector perform 3 M 5 12 month 23.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 5 12 month 22.04.2013
Cormark Securities Inc. MIKE KOZAK speculative buy 4 M 4 12 month 22.04.2013
CIBC World Markets JEFF KILLEEN sector perform 3 M 5 Not Provided 11.04.2013
RBC Capital Markets JONATHAN GUY sector perform 3 M 3 12 month 25.02.2013
Jennings Capital DAN HRUSHEWSKY buy 5 M 6 12 month 21.02.2013
BMO Capital Markets ANDREW BREICHMANAS Speculative Underperform 2 D 3 Not Provided 19.02.2013
Holdings By:
Asanko Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Bear Creek Mining Corporation acquires and explores mineral properties. The
Company is currently conducting silver and gold exploration activities on its
prospects located in Peru.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (01.10.2012) 3.81
52-Week Low (15.04.2013) 2.00
Daily Volume
2.16
52-Week High % Change -43.31% Dividend Yield 0.00
52-Week Low % Change 8.00% Beta 1.11
% 52 Week Price Range High/Low 8.84% Equity Float 75.40
Shares Out 30.04.2013 92.2 Short Int 0.06
199.20 1 Yr Total Return -23.13%
Total Debt 0.00 YTD Return -35.91%
Preferred Stock 0.0 Adjusted BETA 1.106
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 68.45 Consensus Rating 4.000
Enterprise Value 129.42
Average Volume 5 Day 111'631
BCM CN EQUITY YTD Change - Average Volume 30 Day 142'002
BCM CN EQUITY YTD % CHANGE - Average Volume 3 Month 142'752
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(16.5) (8.7) (16.8) (29.5) (31.2) (29.5) (31.2) (19.4) (21.7) - -
- - - - - 0.00x 0.00x - - - -
(18.1) (8.7) (16.3) (29.7) (31.0) (29.7) (31.0) (19.1) (18.1) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -31.20 Long-Term Rating Date -
EBIT -31.32 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -19.68% Short-Term Rating -
Return on Common Equity -20.20%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 32.85 Net Fixed Asset Turnover 0.00
Quick Ratio 32.66 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Bear Creek Mining CorpPrice/Volume
Valuation Analysis
126'000.00
Current Price (5/dd/yy) Market Data
'
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.
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0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SILVER WHEATON CORP n/a PROXY 13'264'305 14.38 - 17.04.2012 Corporation
SPROTT INC n/a Co File 9'772'057 10.6 1'478'600 31.01.2013 Hedge Fund Manager
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 9'422'575 10.22 20'000 31.03.2013 Hedge Fund Manager
ATLANTIC INVESTMENT ATLANTIC INVESTMENT 13F 8'367'550 9.07 2'308'300 31.12.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 6'122'709 6.64 (27'576) 29.04.2013 Investment Advisor
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 1'542'800 1.67 - 31.03.2013 Investment Advisor
KEM CAPITAL LLC n/a SEDI 1'081'262 1.17 - 21.03.2012 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 993'162 1.08 31'100 26.04.2013 Investment Advisor
MCLEOD-SELTZER CATHE n/a PROXY 966'562 1.05 - 17.04.2012 n/a
SWARTHOUT ANDREW n/a SEDI 879'592 0.95 5'000 06.12.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 750'000 0.81 - 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 660'000 0.72 - 31.12.2012 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 559'000 0.61 - 28.02.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 457'000 0.5 - 28.02.2013 Investment Advisor
DE WITT DAVID E n/a PROXY 375'650 0.41 - 17.04.2012 n/a
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 240'867 0.26 - 28.09.2012 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 204'600 0.22 - 28.09.2012 Investment Advisor
DEAN COREY M n/a SEDI 185'000 0.2 35'000 11.11.2010 n/a
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 146'500 0.16 20'100 28.02.2013 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 132'000 0.14 - 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James BRAD HUMPHREY outperform 5 M 4 12 month 24.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 5 12 month 16.04.2013
BMO Capital Markets ANDREW KAIP speculative outperform 4 M 3 Not Provided 15.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 4 12 month 04.04.2013
Paradigm Capital Inc DON BLYTH speculative buy 4 M 6 12 month 16.11.2011
Holdings By:
Bear Creek Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Paramount Gold and Silver Corporation explores for precious metals in Mexico.
Latest Fiscal Year: 06/2012
LTM as of: 12/yy
52-Week High (07.09.2012) 2.82
52-Week Low (08.05.2013) 1.35
Daily Volume
1.38
52-Week High % Change -51.06% Dividend Yield -
52-Week Low % Change 2.22% Beta 1.15
% 52 Week Price Range High/Low 2.04% Equity Float 123.65
Shares Out 03.05.2013 155.5 Short Int 15.71
214.63 1 Yr Total Return -38.39%
Total Debt 0.00 YTD Return -40.52%
Preferred Stock 0.0 Adjusted BETA 1.149
Minority Interest 0.0 Analyst Recs 1
Cash and Equivalents 20.00 Consensus Rating 5.000
Enterprise Value 200.34
Average Volume 5 Day 639'817
PZG US EQUITY YTD Change - Average Volume 30 Day 893'965
PZG US EQUITY YTD % CHANGE - Average Volume 3 Month 844'705
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 12/yy 12/yy 06/13 Y 06/14 Y 06/13 Q4 09/13 Q1
0.0 0.0 0.0 0.2 0.1 0.1 0.1 - - - -
- - - 2370.69x 4555.15x 16235.53x 22190.34x - - - -
(18.8) (7.3) (8.6) (11.6) (17.9) (14.9) (17.9) (7.9) (7.9) - -
- - - - - 0.00x 0.00x - - - -
(18.4) (7.2) (5.4) (28.5) (12.1) (0.9) (11.0) - - - -
- - - - - 0.00x 0.00x - - - -
EBITDA -17.95 Long-Term Rating Date -
EBIT -18.02 Long-Term Rating -
Operating Margin -24647.56% Long-Term Outlook -
Pretax Margin -16534.40% Short-Term Rating Date -
Return on Assets -16.27% Short-Term Rating -
Return on Common Equity -19.70%
Return on Capital - EBITDA/Interest Exp. -1685.54
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -1699.47
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -29165.2%
EBIT Margin -29280.4% Total Debt/Equity 0.0%
Net Income Margin -16534.4% Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 1.82 Net Fixed Asset Turnover 0.00
Quick Ratio 1.77 Accounts receivable turnover-days 7443.11
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.05 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Paramount Gold and Silver CorpPrice/Volume
Valuation Analysis
567'675.00
Current Price (5/dd/yy) Market Data
'
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10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FCMI FINANCIAL CORP n/a 13D 24'444'234 16.56 1'170'732 12.03.2013 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 8'290'578 5.62 (985'288) 29.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 6'329'298 4.29 (110'324) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 5'522'962 3.74 451'575 26.04.2013 Investment Advisor
CRUPI CHRISTOPHER n/a Form 4 3'992'766 2.71 29'500 17.04.2013 n/a
STATE STREET n/a ULT-AGG 2'114'725 1.43 (484) 26.04.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'592'580 1.08 3'339 31.12.2012 Investment Advisor
FRONK RUDI P n/a SEDI 1'025'000 0.69 800'000 10.01.2011 n/a
ROTHSCHILD & COMPAGN Multiple Portfolios MF-AGG 1'000'000 0.68 - 31.01.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 717'088 0.49 92'007 31.12.2012 Investment Advisor
MACKELLER IAN n/a 424B 577'500 0.39 - 19.04.2012 n/a
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 577'010 0.39 (43'050) 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 566'159 0.38 13'813 31.12.2012 Investment Advisor
AMERICAN INTERNATION n/a ULT-AGG 462'554 0.31 13'936 31.12.2012 Government
PORTER PARTNERS LP n/a 424B 446'250 0.3 - 19.04.2012 Other
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 444'859 0.3 (4'130) 31.03.2013 Investment Advisor
BARD ASSOCIATES INC BARD ASSOCIATES INC 13F 420'450 0.28 (2'000) 31.12.2012 Investment Advisor
TALKOT CAPITAL LLC TALKOT CAPITAL LLC 13F 400'000 0.27 400'000 31.12.2012 Hedge Fund Manager
KENNEDY SHAWN M n/a Form 4 364'735 0.25 (59'011) 04.03.2013 n/a
CALIFORNIA PUBLIC EM CALIFORNIA PUBLIC EM 13F 336'400 0.23 200 31.12.2012 Pension Fund (ERISA)
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen Securities LLC ADAM P GRAF buy 5 M 4 12 month 25.04.2013
Stonecap Securities Inc CHRISTOS DOULIS not rated #N/A N/A M #N/A N/A Not Provided 24.04.2013
Holdings By:
Paramount Gold and Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Kirkland Lake Gold, Inc. is an operating gold mining company located in
Ontario, Canada. The Company owns the Macassa Mine and mill and several
contiguous gold producing properties. Kirkland Lake is developing a lode gold
deposit.
Latest Fiscal Year: 04/2012
LTM as of: 01/yy
52-Week High (23.08.2012) 14.57
52-Week Low (17.04.2013) 2.64
Daily Volume
3.23
52-Week High % Change -77.83% Dividend Yield 0.00
52-Week Low % Change 22.35% Beta 1.54
% 52 Week Price Range High/Low 4.95% Equity Float 60.80
Shares Out 30.04.2013 70.2 Short Int 9.16
226.59 1 Yr Total Return -72.70%
Total Debt 8.83 YTD Return -44.79%
Preferred Stock 0.0 Adjusted BETA 1.542
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 30.17 Consensus Rating 3.900
Enterprise Value 287.16
Average Volume 5 Day 563'306
KGI CN EQUITY YTD Change - Average Volume 30 Day 817'552
KGI CN EQUITY YTD % CHANGE - Average Volume 3 Month 773'640
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.04.2008 30.04.2009 30.04.2010 30.04.2011 30.04.2012 01/yy 01/yy 04/13 Y 04/14 Y 04/13 Q4 07/13 Q1
41.4 43.5 51.2 103.3 159.8 149.6 139.2 153.4 261.9 47.9 38.2
9.87x 10.98x 9.15x 9.01x 5.53x 22.77x 20.90x 2.22x 1.28x 7.41x 9.33x
(1.0) (6.8) (7.6) 26.4 55.7 49.3 24.5 30.0 105.7 16.2 4.6
- - - 35.24x 15.86x 24.58x 19.82x 9.56x 2.72x 6.01x 5.87x
(3.3) (10.5) (12.3) 19.9 41.3 45.1 (9.8) (0.0) 46.2 10.2 (1.2)
- - - 48.55x 22.63x 38.76x 0.00x - 6.30x 8.26x 7.02x
EBITDA 55.73 Long-Term Rating Date -
EBIT 41.94 Long-Term Rating -
Operating Margin 26.24% Long-Term Outlook -
Pretax Margin 26.48% Short-Term Rating Date -
Return on Assets -2.83% Short-Term Rating -
Return on Common Equity -4.15%
Return on Capital -11.87% EBITDA/Interest Exp. 224.70
Asset Turnover 0.40% (EBITDA-Capex)/Interest Exp. -62.85
Net Debt/EBITDA 2.48
Gross Margin 38.5% Total Debt/EBITDA 6.07
EBITDA Margin 17.6%
EBIT Margin 5.4% Total Debt/Equity 3.8%
Net Income Margin 25.8% Total Debt/Capital 3.7%
Asset Turnover 0.40
Current Ratio 2.09 Net Fixed Asset Turnover 0.56
Quick Ratio 1.48 Accounts receivable turnover-days 13.94
Debt to Assets 3.27% Inventory Days 53.02
Tot Debt to Common Equity 3.79% Accounts Payable Turnover Day 82.70
Accounts Receivable Turnover 26.25 Cash Conversion Cycle -22.72
Inventory Turnover 6.90
Fiscal Year Ended
Kirkland Lake Gold IncPrice/Volume
Valuation Analysis
859'205.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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40.0
60.0
80.0
100.0
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140.0
160.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
RESOLUTE FUNDS LTD n/a RNS-MAJ 4'950'000 7.06 557'500 19.02.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 4'643'659 6.62 - 29.04.2013 Investment Advisor
OPPENHEIMERFUNDS INC n/a Research 4'160'300 5.93 - 01.01.2013 Investment Advisor
DOBSON DAVID HARRY n/a Research 3'765'000 5.37 - 01.01.2013 n/a
INVESTEC ASSET MANAG n/a Research 3'469'303 4.95 - 01.01.2013 Investment Advisor
HORIZON INVESTMENTS n/a Research 3'153'493 4.5 - 01.01.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 2'804'148 4 (551'900) 01.01.2013 Investment Advisor
MILTON GEORGE A n/a SEDI 2'723'036 3.88 40'000 13.01.2012 n/a
COLUMBIA WANGER ASSE n/a Research 2'525'000 3.6 - 01.01.2013 Investment Advisor
IA MICHAEL INVESTMEN Multiple Portfolios MF-AGG 2'300'000 3.28 2'300'000 31.12.2012 Investment Advisor
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 1'611'100 2.3 (38'500) 31.03.2013 Investment Advisor
SPROTT INC n/a Research 1'517'666 2.16 - 30.06.2012 Hedge Fund Manager
HINCHCLIFFE BRIAN A n/a PROXY 1'113'000 1.59 - 05.09.2012 n/a
GAMCO n/a ULT-AGG 905'000 1.29 396'600 31.12.2012 Unclassified
MONTRUSCO BOLTON INV Multiple Portfolios MF-AGG 708'690 1.01 11'175 28.02.2013 Investment Advisor
FMR LLC n/a ULT-AGG 706'000 1.01 (85'000) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 570'455 0.81 1'297 26.04.2013 Investment Advisor
EMPIRE LIFE INSURANC Multiple Portfolios MF-AGG 544'236 0.78 76'236 31.12.2012 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 395'000 0.56 (5'000) 28.02.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 386'705 0.55 356'807 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie MICHAEL SIPERCO neutral 3 M 4 12 month 25.04.2013
Investec HUNTER HILLCOAT buy 5 M 11 12 month 18.04.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 7 Not Provided 14.04.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 11 Not Provided 12.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 6 Not Provided 11.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 18 12 month 09.04.2013
Desjardins Securities ADAM MELNYK buy 5 M 9 12 month 12.03.2013
Mirabaud Securities RICHARD MORGAN speculative buy 4 M 15 12 month 11.03.2013
Panmure Gordon & Co Limited ALISON TURNER buy 5 M 8 Not Provided 11.03.2013
Raymond James FORBES GEMMELL Under Review #N/A N/A M #N/A N/A Not Provided 05.02.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 15.01.2013
Holdings By:
Kirkland Lake Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Guyana Goldfields Inc. is a metals exploration company. The Company is
primarily exploring for gold in Guyana.
Latest Fiscal Year: 10/2012
LTM as of: 01/yy
52-Week High (14.01.2013) 4.40
52-Week Low (17.04.2013) 1.52
Daily Volume
1.69
52-Week High % Change -61.59% Dividend Yield 0.00
52-Week Low % Change 11.18% Beta 1.58
% 52 Week Price Range High/Low 5.90% Equity Float 118.37
Shares Out 30.04.2013 126.1 Short Int 2.49
213.15 1 Yr Total Return -23.87%
Total Debt 0.00 YTD Return -46.18%
Preferred Stock 0.0 Adjusted BETA 1.579
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 37.62 Consensus Rating 4.400
Enterprise Value 182.68
Average Volume 5 Day 265'351
GUY CN EQUITY YTD Change - Average Volume 30 Day 558'047
GUY CN EQUITY YTD % CHANGE - Average Volume 3 Month 600'222
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.10.2008 31.10.2009 31.10.2010 31.10.2011 31.10.2012 01/yy 01/yy 10/13 Y 10/14 Y 04/13 Q2 07/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 414.0 - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.4) (4.9) (7.7) (9.8) (8.0) (7.8) (8.3) (10.5) (10.5) - -
- - - - - 0.00x 0.00x - - - -
(12.5) (6.7) (6.3) (5.1) (9.8) (10.1) (9.5) (9.8) (10.5) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -8.04 Long-Term Rating Date -
EBIT -8.07 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -4.88% Short-Term Rating -
Return on Common Equity -4.94%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 16.74 Net Fixed Asset Turnover 0.00
Quick Ratio 16.74 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Guyana Goldfields IncPrice/Volume
Valuation Analysis
468'702.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
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1.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BAUPOST GROUP LLC n/a SEDI 24'878'669 19.73 - 28.02.2013 Hedge Fund Manager
FRANKLIN RESOURCES n/a ULT-AGG 23'717'550 18.8 83'000 28.02.2013 Investment Advisor
ACUITY INVESTMENT MA n/a Co File 8'051'804 6.38 (3'647'450) 30.11.2010 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 7'949'935 6.3 (35'868) 29.04.2013 Investment Advisor
SHERIDAN JR JOHN PAT n/a SEDI 6'600'103 5.23 345'000 22.02.2013 n/a
FMR LLC n/a ULT-AGG 5'032'198 3.99 299'858 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 2'300'000 1.82 500'000 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 1'831'603 1.45 995'700 30.09.2012 Hedge Fund Manager
SPROTT INC Multiple Portfolios MF-AGG 1'237'322 0.98 (310'000) 31.12.2012 Hedge Fund Manager
CARMIGNAC GESTION Multiple Portfolios MF-AGG 1'166'650 0.92 1'166'650 29.03.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 950'000 0.75 - 29.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 590'000 0.47 - 28.02.2013 Investment Advisor
MMA INVESTMENT MANAG Multiple Portfolios MF-AGG 550'000 0.44 - 31.12.2011 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 550'000 0.44 (2'988'804) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 430'148 0.34 - 26.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 397'680 0.32 (49'951) 31.03.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 330'000 0.26 - 28.09.2012 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 300'000 0.24 16'000 31.12.2012 Investment Advisor
FERRY ALAN L H n/a SEDI 228'000 0.18 - 23.04.2012 n/a
SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 220'000 0.17 - 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Raymond James BRAD HUMPHREY outperform 5 M 5 12 month 24.04.2013
TD Securities DANIEL EARLE speculative buy 4 M 4 12 month 23.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 5 12 month 22.04.2013
BMO Capital Markets ANDREW KAIP speculative outperform 4 M 5 Not Provided 15.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 8 Not Provided 09.04.2013
Casimir Capital STUART MCDOUGALL speculative buy 4 M 8 12 month 09.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 D 4 12 month 06.03.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 U 6 12 month 15.01.2013
Paradigm Capital Inc DON BLYTH speculative buy 4 M 9 12 month 15.01.2013
Salman Partners DAVID WEST buy 5 M 6 12 month 14.01.2013
Holdings By:
Guyana Goldfields Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Highland Gold Mining Limited is a holding company for a group of companies which
own operating and development assets in the Russian gold mining industry. The
Group's gold mining assets are located in the Far East of the Russian
Federation.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (21.09.2012) 128.91
52-Week Low (17.04.2013) 75.50
Daily Volume
81.5
52-Week High % Change -36.78% Dividend Yield 6.22
52-Week Low % Change 7.95% Beta 0.93
% 52 Week Price Range High/Low 12.17% Equity Float 63.68
Shares Out 31.12.2012 325.2 Short Int -
265.06 1 Yr Total Return -23.59%
Total Debt 8.75 YTD Return -12.45%
Preferred Stock 0.0 Adjusted BETA 0.930
Minority Interest 2.2 Analyst Recs 13
Cash and Equivalents 61.35 Consensus Rating 4.231
Enterprise Value 357.63
Average Volume 5 Day 493'494
HGM LN EQUITY YTD Change - Average Volume 30 Day 651'512
HGM LN EQUITY YTD % CHANGE - Average Volume 3 Month 900'678
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
149.1 164.7 243.6 300.2 351.8 - - 383.7 459.6 - -
1.02x 2.05x 3.16x 2.75x 1.31x - - 1.47x 1.30x - -
38.7 56.5 120.3 156.5 161.8 - - 160.1 197.5 - -
3.92x 5.97x 6.40x 5.27x 2.84x - - 2.23x 1.81x - -
(232.4) 78.8 122.3 103.8 122.9 - - 87.4 107.8 - -
- 5.92x 7.81x 9.14x 4.15x - - 4.58x 3.81x - -
EBITDA 161.81 Long-Term Rating Date -
EBIT 125.00 Long-Term Rating -
Operating Margin 35.53% Long-Term Outlook -
Pretax Margin 43.67% Short-Term Rating Date -
Return on Assets 14.63% Short-Term Rating -
Return on Common Equity 16.59%
Return on Capital 16.59% EBITDA/Interest Exp. 123.05
Asset Turnover 0.42% (EBITDA-Capex)/Interest Exp. 27.97
Net Debt/EBITDA -0.33
Gross Margin 41.6% Total Debt/EBITDA 0.05
EBITDA Margin 46.0%
EBIT Margin 35.5% Total Debt/Equity 1.1%
Net Income Margin 34.9% Total Debt/Capital 1.1%
Asset Turnover 0.42
Current Ratio 5.40 Net Fixed Asset Turnover 0.77
Quick Ratio 1.80 Accounts receivable turnover-days -
Debt to Assets 0.96% Inventory Days 112.73
Tot Debt to Common Equity 1.11% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 128.73
Inventory Turnover 3.25
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Highland Gold Mining LtdPrice/Volume
Valuation Analysis
138'128.00
Current Price (5/dd/yy) Market Data
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100.0
150.0
200.0
250.0
300.0
350.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MILLHOUSE LLC n/a Co File 105'910'000 32.57 - 18.04.2011 Holding Company
BARRICK GOLD CORP n/a Co File 66'235'264 20.37 - 18.04.2011 Corporation
SHVIDLER EVGENY MARK n/a RNS-DIR 28'057'794 8.63 2'037'794 13.07.2012 n/a
PROTSVETANIYE HOLDIN #N/A N/A RNS-MAJ 22'879'845 7.04 3'371'722 24.04.2013 Holding Company
JP MORGAN n/a ULT-AGG 20'996'780 6.46 (254'398) 28.02.2013 Investment Advisor
KOULAKOV IVAN EUGENE n/a Co File 17'552'500 5.4 - 26.04.2011 n/a
HAKANSSON PETER ELAM n/a RNS-MAJ 11'101'386 3.41 - 30.04.2012 n/a
VAN ECK ASSOCIATES C n/a ULT-AGG 10'934'903 3.36 (48'624) 29.04.2013 Investment Advisor
LANCRENAN INVESTMENT #N/A N/A RNS-MAJ 9'786'032 3.01 - 12.04.2013 Unclassified
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 8'289'000 2.55 200'000 31.12.2012 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 5'496'428 1.69 - 28.02.2013 Investment Advisor
FLEMING FAMILY & PAR n/a RNS-MAJ 4'211'883 1.3 (10'700'000) 29.09.2010 Investment Advisor
LEGAL & GENERAL n/a ULT-AGG 1'977'736 0.61 - 31.01.2013 Unclassified
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 1'850'620 0.57 1'850'620 31.01.2013 Investment Advisor
URALSIB JSC Multiple Portfolios MF-AGG 1'580'000 0.49 1'580'000 31.05.2012 Investment Advisor
DWS FINANZ SERVICE G Multiple Portfolios MF-AGG 1'384'600 0.43 - 20.08.2012 Investment Advisor
PARVEST INVESTMENT M Multiple Portfolios MF-AGG 900'000 0.28 - 30.11.2012 Investment Advisor
CARNEGIE ASSET MANAG Multiple Portfolios MF-AGG 830'000 0.26 - 30.09.2012 Investment Advisor
DEUTSCHE ASSET MANAG Multiple Portfolios MF-AGG 815'400 0.25 - 22.10.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 801'501 0.25 (1'083'333) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets JONATHAN GUY sector perform 3 M 120 12 month 24.04.2013
Otkritie Capital ANDY JONES buy 5 M 122 Not Provided 24.04.2013
Numis Securities Ltd CAILEY BARKER buy 5 M 170 Not Provided 23.04.2013
Westhouse Securities NICK HATCH buy 5 M 135 12 month 23.04.2013
Deutsche Bank ERIK DANEMAR buy 5 M 135 12 month 17.04.2013
VSA Capital Ltd CHARLIE LONG buy 5 M 175 12 month 16.04.2013
Uralsib VALENTINA BOGOMOLOVA hold 3 M 131 Not Provided 09.04.2013
VTB Capital NIKOLAY SOSNOVSKIY sell 1 D 82 12 month 04.04.2013
Alfa-Bank BARRY EHRLICH equalweight 3 M 126 Not Provided 26.02.2013
Sberbank CIB MIKHAIL STISKIN buy 5 M 183 Not Provided 25.02.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 17.01.2013
Aton LLC ILYA MAKAROV buy 5 M 136 12 month 28.06.2012
Holdings By:
Highland Gold Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Indophil Resources NL is a mineral exploration company that acquires, explores
and develops gold and copper-gold resources in the Asia-Pacific region.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (10.05.2012) 0.40
52-Week Low (22.11.2012) 0.22
Daily Volume
0.27
52-Week High % Change -32.50% Dividend Yield 0.00
52-Week Low % Change 25.58% Beta 1.03
% 52 Week Price Range High/Low 24.32% Equity Float 668.60
Shares Out 31.12.2012 1'203.1 Short Int 0.77
324.85 1 Yr Total Return -31.65%
Total Debt 0.00 YTD Return 12.50%
Preferred Stock 0.0 Adjusted BETA 1.027
Minority Interest 0.0 Analyst Recs 1
Cash and Equivalents 235.04 Consensus Rating 5.000
Enterprise Value 89.81
Average Volume 5 Day 179'344
IRN AU EQUITY YTD Change - Average Volume 30 Day 587'385
IRN AU EQUITY YTD % CHANGE - Average Volume 3 Month 1'016'398
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
0.0 0.0 0.0 0.0 0.0 - - - - - -
- - - - - - - - - - -
(20.8) (17.1) (7.7) (7.9) (17.7) - - - - - -
- - - - - - - - - - -
(14.8) (10.6) 2.3 1.0 5.5 - - - - - -
- - 196.30x 319.23x 52.17x - - - - - -
EBITDA -17.66 Long-Term Rating Date -
EBIT -17.70 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets 1.16% Short-Term Rating -
Return on Common Equity 1.17%
Return on Capital 1.17% EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 104.48 Net Fixed Asset Turnover 0.00
Quick Ratio 103.72 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Indophil Resources NLPrice/Volume
Valuation Analysis
369'525.00
Current Price (5/dd/yy) Market Data
''''''''''
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0.9
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALSONS DEVELOPMENT & n/a EXCH 240'508'334 19.99 141'041'667 06.02.2012 Corporation
XSTRATA PLC n/a EXCH 157'189'422 13.06 - 06.02.2012 Corporation
L1 CAPITAL PTY LTD n/a EXCH 77'094'557 6.41 (12'125'963) 10.04.2013 Investment Advisor
BANK OF AMERICA CORP n/a EXCH 59'777'753 4.97 (11'905'784) 28.08.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 53'887'244 4.48 (245'700) 29.04.2013 Investment Advisor
UBS n/a ULT-AGG 52'235'438 4.34 - 17.06.2011 Unclassified
SAN MIGUEL CORP n/a EXCH 48'016'960 3.99 - 17.06.2011 Corporation
MORGAN STANLEY n/a ULT-AGG 26'097'859 2.17 (27'664'747) 10.10.2011 Investment Advisor
ACORN CAPITAL LTD n/a EXCH 20'419'416 1.7 - 09.02.2012 Investment Advisor
UNISUPER n/a EXCH 19'610'481 1.63 - 09.02.2012 Other
WESTOZ FUNDS MANAGEM Multiple Portfolios MF-AGG 16'200'000 1.35 - 30.06.2011 Investment Advisor
SUNSUPER FUND n/a EXCH 13'290'433 1.1 - 09.02.2012 Other
HEALTH SUPER n/a EXCH 9'408'868 0.78 - 09.02.2012 Other
MICROCAP INVESTMENT n/a EXCH 9'086'904 0.76 - 09.02.2012 Other
CBA OFFICERS SUPER F n/a EXCH 8'280'549 0.69 - 09.02.2012 Other
FMR LLC n/a ULT-AGG 7'192'750 0.6 - 31.10.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 5'392'977 0.45 - 31.07.2012 Investment Advisor
QLD LOCAL GOVT SUPER n/a EXCH 5'326'550 0.44 - 09.02.2012 Other
AUSCOAL SUPER FUND n/a EXCH 4'856'892 0.4 - 09.02.2012 Other
MILITARY SUPER & BEN n/a EXCH 4'371'077 0.36 - 09.02.2012 Other
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 02.04.2013
Holdings By:
Indophil Resources NL ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Lydian International, Ltd. is a gold focused mineral exploration and
development company.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (05.09.2012) 2.56
52-Week Low (17.04.2013) 1.43
Daily Volume
1.53
52-Week High % Change -40.23% Dividend Yield 0.00
52-Week Low % Change 6.99% Beta 1.36
% 52 Week Price Range High/Low 8.85% Equity Float 102.55
Shares Out 30.04.2013 130.2 Short Int 0.56
199.16 1 Yr Total Return -28.17%
Total Debt 0.00 YTD Return -26.79%
Preferred Stock 0.0 Adjusted BETA 1.360
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 20.11 Consensus Rating 4.778
Enterprise Value 108.40
Average Volume 5 Day 168'504
LYD CN EQUITY YTD Change - Average Volume 30 Day 392'223
LYD CN EQUITY YTD % CHANGE - Average Volume 3 Month 364'380
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
- - - 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
- - (3.4) - - (3.6) (2.9) (8.9) (5.0) - -
- - - - - 0.00x 0.00x - - - -
- (1.9) (5.9) (5.9) (6.4) (5.9) (6.4) (13.2) (5.4) - -
- - - - - 0.00x 0.00x - - - -
EBITDA - Long-Term Rating Date -
EBIT -5.92 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -14.30% Short-Term Rating -
Return on Common Equity -16.44%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 5.62 Net Fixed Asset Turnover 0.00
Quick Ratio 5.51 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Lydian International LtdPrice/Volume
Valuation Analysis
167'866.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
-
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0.1
0.2
0.3
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0.5
0.6
0.7
0.8
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 13'148'278 10.36 - 29.04.2013 Investment Advisor
INTERNATIONAL FINANC n/a SEDI 10'309'771 8.13 - 28.03.2013 Government
EUROPEAN BANK FOR RE n/a Research 9'038'780 7.12 1'419'732 29.03.2012 Bank
NEWMONT MINING CORP n/a SEDI 8'650'000 6.82 500'000 24.09.2010 Corporation
FRANKLIN RESOURCES n/a ULT-AGG 5'775'000 4.55 800'000 31.01.2013 Investment Advisor
GCIC LTD/CANADA Multiple Portfolios MF-AGG 3'790'000 2.99 1'890'000 31.12.2012 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 2'351'900 1.85 - 31.12.2012 Bank
INVESCO LTD n/a ULT-AGG 2'000'000 1.58 - 31.12.2012 Investment Advisor
HAYK ALOYAN n/a SEDI 1'791'500 1.41 2'000 22.02.2013 n/a
FMR LLC n/a ULT-AGG 1'625'300 1.28 100'000 31.03.2013 Investment Advisor
MACKENZIE FINANCIAL Multiple Portfolios MF-AGG 1'567'700 1.24 392'600 31.01.2013 Investment Advisor
HENDERSON MARC C n/a SEDI 1'502'500 1.18 (100'000) 12.03.2013 n/a
MULLENS PETER n/a SEDI 1'430'000 1.13 (90'500) 07.02.2013 n/a
ANDROSS LIMITED n/a SEDI 1'340'450 1.06 200'000 12.10.2012 Other
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 1'248'559 0.98 34'284 26.04.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 1'179'400 0.93 - 28.02.2013 Investment Advisor
TARGET GENERATION SO n/a SEDI 1'007'500 0.79 - 21.09.2010 Other
QUANTEX AG Multiple Portfolios MF-AGG 950'000 0.75 - 29.03.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 941'400 0.74 500'000 31.12.2012 Hedge Fund Manager
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 903'610 0.71 (344'000) 28.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 3 Not Provided 26.04.2013
Scotia Capital LEILY OMOUMI sector outperform 5 M 4 12 month 23.04.2013
TD Securities DANIEL EARLE speculative buy 4 M 4 12 month 23.04.2013
Cormark Securities Inc. MIKE KOZAK buy 5 M 3 12 month 22.04.2013
Haywood Securities Inc. TARA HASSAN buy 5 M 4 Not Provided 16.04.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M #N/A N/A Not Provided 14.04.2013
National Bank Financial SHANE NAGLE outperform 5 M 4 12 month 09.04.2013
GMP ANDREW MIKITCHOOK buy 5 M 5 12 month 05.03.2013
RBC Capital Markets JONATHAN GUY outperform 5 M 3 12 month 07.01.2013
Holdings By:
Lydian International Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Sabina Gold & Silver Corporation explores and develops mineral properties. The
Company is a precious metals exploration Company with a portfolio of different
properties in Canada at different stages of development. Sabina explores for
minerals that include copper, gold and silver.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (07.09.2012) 3.55
52-Week Low (07.05.2013) 1.07
Daily Volume
1.18
52-Week High % Change -66.76% Dividend Yield 0.00
52-Week Low % Change 10.28% Beta 1.55
% 52 Week Price Range High/Low 4.44% Equity Float 110.19
Shares Out 30.04.2013 173.6 Short Int 0.56
204.82 1 Yr Total Return -52.03%
Total Debt 0.00 YTD Return -55.47%
Preferred Stock 0.0 Adjusted BETA 1.546
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 116.39 Consensus Rating 4.143
Enterprise Value 88.43
Average Volume 5 Day 573'165
SBB CN EQUITY YTD Change - Average Volume 30 Day 499'188
SBB CN EQUITY YTD % CHANGE - Average Volume 3 Month 467'329
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.6) (4.5) (5.4) (10.0) (11.9) (10.0) (11.9) (5.8) (6.0) - -
- - - - - 0.00x 0.00x - - - -
(3.1) (1.1) (8.8) (12.7) (14.1) (12.7) (14.1) (6.0) (7.0) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -11.86 Long-Term Rating Date -
EBIT -11.90 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -4.29% Short-Term Rating -
Return on Common Equity -4.80%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 42.88 Net Fixed Asset Turnover 0.00
Quick Ratio 41.36 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 350.34
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover 0.00
Fiscal Year Ended
Sabina Gold & Silver CorpPrice/Volume
Valuation Analysis
904'112.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
-
-
.
.
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0
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-!2 F
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.!2 F
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0!2 F
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GCIC LTD/CANADA n/a SEDI 20'350'304 11.72 1'491'804 06.03.2013 Investment Advisor
GOODMAN INVESTMENT C #N/A N/A SEDI 19'728'304 11.37 (368'000) 26.04.2013 Investment Advisor
DUNDEE PRECIOUS META n/a PROXY 18'539'713 10.68 - 08.05.2012 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 10'523'240 6.06 (47'472) 29.04.2013 Investment Advisor
DUNDEE CORP n/a SEDI 2'828'700 1.63 2'151'700 29.06.2012 Holding Company
FMR LLC n/a ULT-AGG 2'780'000 1.6 50'000 31.03.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 1'140'000 0.66 - 29.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 1'122'000 0.65 - 28.02.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'034'100 0.6 1'034'100 31.03.2013 Hedge Fund Manager
SHARE SICAV Multiple Portfolios MF-AGG 945'100 0.54 45'000 31.12.2012 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 936'866 0.54 25'740 26.04.2013 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 899'400 0.52 - 31.12.2012 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 838'000 0.48 - 28.02.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 725'400 0.42 - 28.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 643'657 0.37 - 31.03.2013 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 642'400 0.37 - 31.12.2012 Investment Advisor
WHITTON JOHN F n/a SEDI 628'042 0.36 75'000 01.11.2011 n/a
SPROTT INC Multiple Portfolios MF-AGG 560'700 0.32 - 31.12.2012 Hedge Fund Manager
WILKES LEROY E n/a SEDI 343'373 0.2 5'000 02.01.2013 n/a
PACIFIC INCOME ADVIS Multiple Portfolios MF-AGG 300'000 0.17 - 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cormark Securities Inc. RICHARD GRAY buy 5 M 3 12 month 22.04.2013
BMO Capital Markets ANDREW KAIP speculative outperform 4 M 3 Not Provided 15.04.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 3 12 month 14.04.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 M 4 12 month 09.04.2013
Salman Partners DAVID WEST speculative buy 4 M 5 12 month 22.02.2013
Desjardins Securities ADAM MELNYK buy 5 M 7 12 month 21.02.2013
Paradigm Capital Inc DON MACLEAN speculative buy 4 M 6 12 month 12.11.2012
Holdings By:
Sabina Gold & Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Lake Shore Gold Corp. acquires and explores mineral properties. The Company is
currently exploring for gold in the gold mining district of northern Ontario
and Quebec.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (13.06.2012) 1.17
52-Week Low (08.05.2013) 0.33
Daily Volume
0.335
52-Week High % Change -71.37% Dividend Yield 0.00
52-Week Low % Change 3.08% Beta 1.37
% 52 Week Price Range High/Low 1.18% Equity Float 415.25
Shares Out 30.04.2013 416.6 Short Int 2.00
139.57 1 Yr Total Return -63.59%
Total Debt 142.44 YTD Return -55.33%
Preferred Stock 0.0 Adjusted BETA 1.368
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 48.72 Consensus Rating 3.667
Enterprise Value 233.29
Average Volume 5 Day 2'656'449
LSG CN EQUITY YTD Change - Average Volume 30 Day 3'098'379
LSG CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'480'294
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 66.2 133.0 66.2 133.0 199.8 270.0 43.0 -
- - - 7.86x 3.05x 55.56x 12.58x 1.05x 0.60x - -
(9.6) (9.6) (19.4) 7.3 37.9 7.3 37.9 79.4 124.4 - -
- - - 70.97x 10.70x 70.97x 10.70x 2.94x 1.88x - -
(5.5) 2.1 (6.5) (10.9) (317.9) (10.9) (317.9) (5.2) 28.7 - -
- 413.00x - - - 0.00x 0.00x - 8.17x 83.75x -
EBITDA 37.91 Long-Term Rating Date -
EBIT -4.90 Long-Term Rating -
Operating Margin -3.69% Long-Term Outlook -
Pretax Margin -187.52% Short-Term Rating Date -
Return on Assets -34.24% Short-Term Rating -
Return on Common Equity -40.51%
Return on Capital - EBITDA/Interest Exp. 11.55
Asset Turnover 0.14% (EBITDA-Capex)/Interest Exp. -37.76
Net Debt/EBITDA 2.47
Gross Margin 7.8% Total Debt/EBITDA 3.76
EBITDA Margin 28.5%
EBIT Margin -3.7% Total Debt/Equity 22.2%
Net Income Margin -239.0% Total Debt/Capital 18.2%
Asset Turnover 0.14
Current Ratio 1.49 Net Fixed Asset Turnover 0.16
Quick Ratio 0.83 Accounts receivable turnover-days -
Debt to Assets 17.31% Inventory Days 48.46
Tot Debt to Common Equity 22.22% Accounts Payable Turnover Day 20.00
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 7.55
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Lake Shore Gold CorpPrice/Volume
Valuation Analysis
2'952'654.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 31'652'748 7.6 (142'800) 29.04.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 23'388'000 5.61 8'876'000 31.12.2012 Hedge Fund Manager
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 14'870'645 3.57 667'313 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 12'114'420 2.91 (1'574'400) 31.03.2013 Hedge Fund Manager
RUFFER LLP Multiple Portfolios MF-AGG 10'803'000 2.59 - 27.12.2012 Hedge Fund Manager
FMR LLC n/a ULT-AGG 5'160'900 1.24 1'199'300 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 4'299'914 1.03 (896'343) 26.04.2013 Investment Advisor
LIBRA ADVISORS LLC LIBRA ADVISORS LLC 13F 3'489'300 0.84 (489'300) 31.12.2012 Hedge Fund Manager
SHARE SICAV Multiple Portfolios MF-AGG 3'475'500 0.83 412'000 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 3'303'624 0.79 - 31.12.2012 Pension Fund (ERISA)
ROYAL BANK OF CANADA n/a ULT-AGG 3'245'296 0.78 3'051'527 31.12.2012 Bank
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'060'065 0.73 29'385 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 2'956'500 0.71 1'300'000 31.12.2012 Investment Advisor
NORGES BANK NORGES BANK 13F 2'746'733 0.66 - 31.12.2012 Government
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 1'933'350 0.46 (50'500) 31.07.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 1'614'955 0.39 (117'621) 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 1'316'864 0.32 - 29.04.2013 Investment Advisor
HAUCK & AUFHAUSER IN Multiple Portfolios MF-AGG 1'100'000 0.26 - 28.02.2013 Investment Advisor
GBC ASSET MANAGEMENT Multiple Portfolios MF-AGG 963'900 0.23 - 31.12.2011 Investment Advisor
JULIUS BAER MULTICOO Multiple Portfolios MF-AGG 945'080 0.23 (19'268) 30.11.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities DANIEL EARLE buy 5 M 1 12 month 23.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 2 12 month 23.04.2013
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 1 12 month 19.04.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 2 Not Provided 16.04.2013
BMO Capital Markets BRIAN QUAST underperform 1 M 1 Not Provided 14.04.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 1 Not Provided 11.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 2 12 month 09.04.2013
M Partners Inc INGRID RICO buy 5 M 2 12 month 09.04.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 15.01.2013
Holdings By:
Lake Shore Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Brigus Gold Corp. is an emerging mid-tier gold producer . The Company's current
projects are in Ontario, Saskatchewan, Mexico and the Dominican Republic.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (21.09.2012) 1.09
52-Week Low (17.04.2013) 0.53
Daily Volume
0.67
52-Week High % Change -38.53% Dividend Yield -
52-Week Low % Change 27.59% Beta 1.17
% 52 Week Price Range High/Low 25.65% Equity Float 225.88
Shares Out 30.04.2013 231.5 Short Int 1.44
155.08 1 Yr Total Return -18.29%
Total Debt 93.20 YTD Return -28.72%
Preferred Stock 0.0 Adjusted BETA 1.171
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 29.81 Consensus Rating 4.750
Enterprise Value 218.47
Average Volume 5 Day 557'312
BRD US EQUITY YTD Change - Average Volume 30 Day 1'000'010
BRD US EQUITY YTD % CHANGE - Average Volume 3 Month 930'278
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 47.0 85.9 71.9 117.7 71.9 117.7 156.5 168.0 42.8 31.2
- - 4.84x 3.27x 2.36x 16.56x 8.29x - - - -
(9.1) 13.8 32.7 14.3 48.5 14.3 48.5 82.7 100.2 - -
- - 12.72x 16.46x 5.72x 16.46x 5.72x 2.64x 2.18x - -
1.2 (61.7) (55.5) 15.8 18.9 15.8 18.9 30.9 44.9 5.9 0.1
- - - - - 0.00x 0.00x 5.08x 4.96x 3.58x 3.68x
EBITDA 48.49 Long-Term Rating Date -
EBIT 23.35 Long-Term Rating -
Operating Margin 19.84% Long-Term Outlook -
Pretax Margin 15.79% Short-Term Rating Date -
Return on Assets 4.77% Short-Term Rating -
Return on Common Equity 9.12%
Return on Capital - EBITDA/Interest Exp. 5.34
Asset Turnover 0.30% (EBITDA-Capex)/Interest Exp. -0.55
Net Debt/EBITDA 1.31
Gross Margin 30.9% Total Debt/EBITDA 1.92
EBITDA Margin 41.2%
EBIT Margin 19.8% Total Debt/Equity 40.1%
Net Income Margin 16.1% Total Debt/Capital 28.6%
Asset Turnover 0.30
Current Ratio 1.15 Net Fixed Asset Turnover 0.37
Quick Ratio 0.76 Accounts receivable turnover-days 11.83
Debt to Assets 22.12% Inventory Days 38.15
Tot Debt to Common Equity 40.06% Accounts Payable Turnover Day 98.53
Accounts Receivable Turnover 30.94 Cash Conversion Cycle -48.56
Inventory Turnover 9.59
Fiscal Year Ended
Brigus Gold CorpPrice/Volume
Valuation Analysis
299'439.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 15'749'424 6.8 529'589 29.04.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 10'394'351 4.49 (4'720'868) 31.03.2013 Hedge Fund Manager
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 8'214'500 3.55 8'214'500 31.12.2012 Hedge Fund Manager
RUFFER LLP Multiple Portfolios MF-AGG 7'027'000 3.04 - 27.12.2012 Hedge Fund Manager
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 4'428'400 1.91 1'084'200 31.03.2013 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 3'814'200 1.65 2'073'500 31.12.2012 Hedge Fund Manager
ROYAL BANK OF CANADA n/a ULT-AGG 3'542'114 1.53 3'503'207 31.12.2012 Bank
DAWE WADE K n/a SEDI 2'438'422 1.05 16'025 03.04.2013 n/a
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 2'331'800 1.01 573'900 31.12.2012 Investment Advisor
GROSS MICHAEL n/a PROXY 1'578'085 0.68 - 13.04.2012 n/a
LIBRA ADVISORS LLC LIBRA ADVISORS LLC 13F 1'430'200 0.62 (595'900) 31.12.2012 Hedge Fund Manager
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'189'700 0.51 (391'900) 31.12.2012 Pension Fund (ERISA)
BLACKROCK n/a ULT-AGG 1'128'900 0.49 (71'100) 31.12.2012 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 1'000'000 0.43 (10'948) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 914'868 0.4 - 31.07.2012 Investment Advisor
CITY OF LONDON INVES CITY OF LONDON INVES 13F 912'000 0.39 - 31.12.2012 Investment Advisor
KELLIGREW INC n/a SEDI 655'289 0.28 30'000 29.09.2011 Corporation
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 500'000 0.22 - 31.12.2012 Investment Advisor
COE CAPITAL MANAGEME COE CAPITAL MANAGEME 13F 499'380 0.22 (215'250) 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 422'021 0.18 80'394 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Casimir Capital ERIC WINMILL strong buy 5 M 2 12 month 30.04.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 1 12 month 29.04.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 1 12 month 22.04.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 2 Not Provided 16.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 2 12 month 15.04.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 1 Not Provided 14.04.2013
Paradigm Capital Inc DON BLYTH buy 5 M 2 12 month 03.04.2013
EVA Dimensions TEAM COVERAGE overweight 5 U #N/A N/A Not Provided 29.06.2012
Holdings By:
Brigus Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Great Panther Silver Ltd. explores for and produces silver. The Company is
focused on acquiring, developing and mining precious metals in Mexico. Great
Panther's projects include The Guanajuato Mines property, located in the State
of Guanajuato, Mexico, and The Topia Silver-Lead-Zinc property, located in the
Topia Mining District in west-central Durango State, Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (14.09.2012) 2.48
52-Week Low (07.05.2013) 0.91
Daily Volume
0.9642
52-Week High % Change -61.12% Dividend Yield -
52-Week Low % Change 5.72% Beta 1.16
% 52 Week Price Range High/Low 3.33% Equity Float 134.84
Shares Out 30.04.2013 137.9 Short Int 0.52
132.94 1 Yr Total Return -51.55%
Total Debt 0.00 YTD Return -36.98%
Preferred Stock 0.0 Adjusted BETA 1.155
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 25.90 Consensus Rating 3.000
Enterprise Value 107.94
Average Volume 5 Day 365'347
GPL US EQUITY YTD Change - Average Volume 30 Day 536'677
GPL US EQUITY YTD % CHANGE - Average Volume 3 Month 602'254
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
22.4 31.7 42.2 57.8 61.1 57.8 61.1 60.0 66.0 - -
1.28x 2.85x 7.67x 4.05x 3.05x 25.22x 15.51x - - - -
(9.9) 4.9 14.2 22.0 15.6 22.0 15.6 - - - -
- 18.35x 22.73x 10.65x 11.93x 10.65x 11.93x - - - -
(13.8) (0.9) 10.7 11.5 5.5 11.5 5.5 - - - -
- - - - - 0.00x 0.00x 21.57x 12.94x - -
EBITDA 15.63 Long-Term Rating Date -
EBIT 6.74 Long-Term Rating -
Operating Margin 11.02% Long-Term Outlook -
Pretax Margin 15.88% Short-Term Rating Date -
Return on Assets 5.02% Short-Term Rating -
Return on Common Equity 5.72%
Return on Capital 5.74% EBITDA/Interest Exp. 459.68
Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. -325.97
Net Debt/EBITDA -1.66
Gross Margin 32.0% Total Debt/EBITDA 0.00
EBITDA Margin 25.6%
EBIT Margin 11.0% Total Debt/Equity 0.0%
Net Income Margin 9.0% Total Debt/Capital 0.0%
Asset Turnover 0.56
Current Ratio 6.23 Net Fixed Asset Turnover 1.17
Quick Ratio 5.17 Accounts receivable turnover-days 96.31
Debt to Assets 0.00% Inventory Days 50.73
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 60.30
Accounts Receivable Turnover 3.80 Cash Conversion Cycle 86.73
Inventory Turnover 7.21
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Great Panther Silver LtdPrice/Volume
Valuation Analysis
528'780.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 9'532'859 6.91 (1'219'935) 29.04.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'387'500 1.01 587'500 31.12.2012 Investment Advisor
ARCHER ROBERT A n/a SEDI 1'191'300 0.86 (61'200) 14.09.2011 n/a
SANCHEZ FRANCISCO RA n/a 20F 1'075'000 0.78 - 29.02.2012 n/a
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 896'193 0.65 (120'468) 31.12.2012 Investment Advisor
BROWN CHARLES P n/a SEDI 448'000 0.32 36'000 18.11.2011 n/a
PUPLAVA FINANCIAL SE PUPLAVA FINANCIAL SE 13F 429'301 0.31 429'301 31.12.2012 Hedge Fund Manager
CANADA PENSION PLAN CANADA PENSION PLAN 13F 293'101 0.21 235'100 31.12.2012 Pension Fund (ERISA)
KOPCHEFF JOHN THOMAS n/a SEDI 280'000 0.2 200'000 25.08.2011 n/a
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 200'000 0.15 - 31.01.2013 Investment Advisor
WAY FUND MANAGERS Multiple Portfolios MF-AGG 200'000 0.15 - 28.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 193'930 0.14 - 26.04.2013 Investment Advisor
JANE STREET HOLDING JANE STREET HOLDING 13F 191'922 0.14 (73'288) 31.12.2012 Investment Advisor
NATIXIS ASSET MANAGE NATIXIS ASSET MANAGE 13F 188'000 0.14 188'000 31.12.2012 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 153'000 0.11 - 28.03.2013 Investment Advisor
SCHOELLERBANK INVEST Multiple Portfolios MF-AGG 130'000 0.09 4'000 28.03.2013 Investment Advisor
IFOS INTERNATIONALE Multiple Portfolios MF-AGG 100'000 0.07 - 27.03.2013 Investment Advisor
SPARK INVESTMENT MAN SPARK INVESTMENT MAN 13F 93'500 0.07 (38'700) 31.12.2012 Investment Advisor
CITADEL ADVISORS LLC CITADEL ADVISORS LLC 13F 88'245 0.06 14'272 31.12.2012 Hedge Fund Manager
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 86'500 0.06 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 1 12 month 16.04.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 1 12 month 15.04.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 11.04.2013
Salman Partners ASH GUGLANI buy 5 M 2 12 month 15.03.2013
Holdings By:
Great Panther Silver Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Intrepid Mines Limited is an international precious metals development and
exploration company with primary operations in Indonesia. The Company's current
project is located in the province of East Java, where it explores for gold,
silver, and copper-gold.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (10.05.2012) 0.75
52-Week Low (23.07.2012) 0.19
Daily Volume
0.255
52-Week High % Change -66.00% Dividend Yield 0.00
52-Week Low % Change 34.21% Beta 1.65
% 52 Week Price Range High/Low 13.39% Equity Float 486.83
Shares Out 12.04.2013 555.8 Short Int 17.63
141.73 1 Yr Total Return -65.54%
Total Debt 0.00 YTD Return 21.43%
Preferred Stock 0.0 Adjusted BETA 1.652
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 9.65 Consensus Rating 2.400
Enterprise Value 134.83
Average Volume 5 Day 3'097'108
IAU AU EQUITY YTD Change - Average Volume 30 Day 2'137'595
IAU AU EQUITY YTD % CHANGE - Average Volume 3 Month 2'771'969
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
54.4 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
1.06x - - - - #DIV/0! #DIV/0! - - - -
2.2 1.9 (24.2) (39.2) (47.7) (30.7) (17.3) (9.9) (9.3) - -
26.51x 39.18x - - - 0.00x 0.00x - - - -
(42.7) (9.9) (5.0) (30.0) (71.8) (29.4) (63.9) (7.1) (8.8) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -47.73 Long-Term Rating Date -
EBIT -47.76 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -50.47% Short-Term Rating -
Return on Common Equity -51.74%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 57.06 Net Fixed Asset Turnover 0.00
Quick Ratio 5.01 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Intrepid Mines LtdPrice/Volume
Valuation Analysis
6'490'906.00
Current Price (5/dd/yy) Market Data
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10.0
20.0
30.0
40.0
50.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TAURUS SM HOLDINGS P n/a Co File 48'192'131 8.67 - 16.03.2012 Holding Company
VAN ECK ASSOCIATES C n/a ULT-AGG 41'772'440 7.52 7'384'262 29.04.2013 Investment Advisor
QUANTUM PACIFIC INVE n/a EXCH 29'982'667 5.39 - 23.04.2013 Unclassified
COMMONWEALTH BANK OF n/a EXCH 25'513'559 4.59 (1'063'213) 21.09.2011 Bank
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 19'156'073 3.45 (2'399'347) 30.09.2012 Hedge Fund Manager
BANK OF AMERICA CORP n/a EXCH 17'837'142 3.21 (12'563'151) 26.09.2011 Investment Advisor
FMR LLC n/a ULT-AGG 9'529'798 1.71 - 31.03.2013 Investment Advisor
UNISUPER n/a EXCH 8'304'156 1.49 1'263'247 06.06.2012 Other
ACORN CAPITAL LTD n/a EXCH 7'545'656 1.36 700'425 06.06.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 6'348'158 1.14 (179'360) 31.08.2011 Investment Advisor
SUNSUPER FUND n/a EXCH 5'436'384 0.98 878'800 06.06.2012 Other
MICROCAP INVESTMENT n/a EXCH 3'995'655 0.72 478'000 06.06.2012 Other
HEALTH SUPER n/a EXCH 3'920'180 0.71 602'600 06.06.2012 Other
CBA OFFICERS SUPER F n/a EXCH 3'537'176 0.64 530'300 06.06.2012 Other
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'706'075 0.49 (16'476) 30.09.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'551'202 0.46 - 31.03.2013 Investment Advisor
QLD LOCAL GOVT SUPER n/a EXCH 2'225'422 0.4 340'300 06.06.2012 Other
AUSCOAL SUPER FUND n/a EXCH 2'091'335 0.38 327'800 06.06.2012 Other
GORDON BRADLEY AUSTI n/a EXCH 1'970'295 0.35 235'000 01.03.2013 n/a
COMMONWEALTH SUPER C n/a EXCH 1'830'425 0.33 - 06.06.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
National Bank Financial STEPHEN PARSONS Under Review #N/A N/A M #N/A N/A Not Provided 27.03.2013
Wilson HTM Investment Group CAMERON JUDD sell 1 D 0 Not Provided 21.03.2013
Hartleys PETER GRAY speculative buy 4 M 0 12 month 19.03.2013
RBC Capital Markets GEOFF BREEN underperform 1 D 0 12 month 27.02.2013
Canaccord Genuity Corp GARY LAMPARD suspended coverage #N/A N/A M #N/A N/A Not Provided 19.02.2013
RBS Morgans CHRIS BROWN outperform 5 N 1 12 month 27.11.2012
Cormark Securities Inc. MIKE KOZAK Under Review #N/A N/A M #N/A N/A Not Provided 23.07.2012
Canaccord Genuity Corp JEAN-FRANCOIS BERTINCOURT buy 5 N 2 12 month 17.04.2012
EVA Dimensions TEAM COVERAGE sell 1 M #N/A N/A Not Provided 31.01.2012
Holdings By:
Intrepid Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Vista Gold Corp. is an international gold mining company. The Company is
focused on its core projects, the Concordia gold project located in Baja
California Sur, Mexico and the Mt. Todd gold project in Northern Territory,
Australia.
Latest Fiscal Year: 12/2007
LTM as of: 12/yy
52-Week High (21.09.2012) 4.09
52-Week Low (17.04.2013) 1.47
Daily Volume
1.51
52-Week High % Change -63.08% Dividend Yield 0.00
52-Week Low % Change 2.72% Beta 1.17
% 52 Week Price Range High/Low 1.53% Equity Float 68.27
Shares Out 30.04.2013 81.7 Short Int 1.54
123.40 1 Yr Total Return -47.75%
Total Debt 0.00 YTD Return -44.07%
Preferred Stock 0.0 Adjusted BETA 1.170
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 88.40 Consensus Rating 5.000
Enterprise Value 35.00
Average Volume 5 Day 269'009
VGZ US EQUITY YTD Change - Average Volume 30 Day 432'697
VGZ US EQUITY YTD % CHANGE - Average Volume 3 Month 493'918
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 0.0 - -
- - - - - #DIV/0! #DIV/0! - - - -
(6.5) (6.1) (17.7) (28.1) (35.6) (28.1) (34.5) (20.4) (19.1) (5.8) (6.0)
- - - - - 0.00x 0.00x - - - -
(10.0) (1.9) (20.0) 51.5 (70.7) 51.5 (69.5) (20.1) (13.7) (6.3) (4.6)
- - - - - 0.00x 0.00x - - - -
EBITDA -35.63 Long-Term Rating Date -
EBIT -36.22 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -44.30% Short-Term Rating -
Return on Common Equity -57.29%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 2.94 Net Fixed Asset Turnover 0.00
Quick Ratio 2.84 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Vista Gold CorpPrice/Volume
Valuation Analysis
296'931.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 12'084'310 14.82 1'272'000 31.12.2012 Hedge Fund Manager
SUN VALLEY GOLD LLC n/a Research 12'084'310 14.82 - 31.12.2012 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 11'374'527 13.95 - 29.04.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 6'145'260 7.53 (430'462) 31.03.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 2'577'504 3.16 268'822 26.04.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 1'758'748 2.16 - 31.12.2012 Corporation
ANDREEFF EQUITY ADVI ANDREEFF EQUITY ADVI 13F 1'586'026 1.94 (20'971) 31.12.2012 Hedge Fund Manager
STATE STREET n/a ULT-AGG 888'193 1.09 (20'701) 26.04.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 871'929 1.07 343'929 31.03.2013 Investment Advisor
PERRITT CAPITAL MANA PERRITT CAPITAL MANA 13F 822'000 1.01 - 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 732'415 0.9 - 31.12.2012 Pension Fund (ERISA)
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 709'055 0.87 21'681 31.12.2012 Investment Advisor
PARKER FREDERICK H E n/a Form 4 556'325 0.68 - 05.09.2012 n/a
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 283'993 0.35 (24'847) 31.12.2012 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 271'783 0.33 160'360 31.12.2012 Investment Advisor
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 248'473 0.3 88'467 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 201'025 0.25 11'051 31.03.2013 Investment Advisor
AQR CAPITAL MANAGEME AQR CAPITAL MANAGEME 13F 193'800 0.24 137'400 31.12.2012 Hedge Fund Manager
RICHINGS MICHAEL B n/a Form 4 188'121 0.23 - 08.01.2013 n/a
IFM - INDEPENDENT FU Multiple Portfolios MF-AGG 180'750 0.22 (33'250) 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT buy 5 M 5 12 month 29.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 4 12 month 09.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 13 Not Provided 09.04.2013
Roth Capital Partners BRIAN W POST buy 5 M 7 12 month 28.03.2013
Stonegate Securities Inc MARCO RODRIGUEZ no rating system #N/A N/A M #N/A N/A Not Provided 19.03.2013
Holdings By:
Vista Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Alexco Resource Corporation is a mineral exploration and production company.
The Company mines for minerals that include gold and silver.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.05.2012) 5.66
52-Week Low (07.05.2013) 1.71
Daily Volume
1.77
52-Week High % Change -68.73% Dividend Yield -
52-Week Low % Change 3.51% Beta 1.05
% 52 Week Price Range High/Low 1.52% Equity Float 52.02
Shares Out 30.04.2013 62.6 Short Int 0.84
110.76 1 Yr Total Return -67.88%
Total Debt 0.00 YTD Return -50.42%
Preferred Stock 0.0 Adjusted BETA 1.048
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 23.09 Consensus Rating 3.800
Enterprise Value 88.45
Average Volume 5 Day 334'158
AXU US EQUITY YTD Change - Average Volume 30 Day 506'653
AXU US EQUITY YTD % CHANGE - Average Volume 3 Month 404'028
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
5.7 5.8 4.6 45.1 84.7 45.1 84.7 77.0 112.1 20.5 23.7
18.66x 14.71x 32.68x 8.09x 2.27x 33.40x 12.36x - - - -
(4.8) (6.1) (6.0) 9.8 25.4 9.8 25.4 (11.1) 12.2 - -
- - - 37.41x 7.55x 37.41x 7.55x - 7.25x - -
(4.0) (9.6) (5.2) 3.5 3.4 3.5 3.4 2.0 21.6 0.3 0.8
- - - - - 0.00x 0.00x - 35.64x - -
EBITDA 25.44 Long-Term Rating Date -
EBIT 1.26 Long-Term Rating -
Operating Margin 1.49% Long-Term Outlook -
Pretax Margin 9.42% Short-Term Rating Date -
Return on Assets 1.62% Short-Term Rating -
Return on Common Equity 2.42%
Return on Capital 2.44% EBITDA/Interest Exp. 553.04
Asset Turnover 0.40% (EBITDA-Capex)/Interest Exp. -174.91
Net Debt/EBITDA -0.91
Gross Margin 21.2% Total Debt/EBITDA 0.00
EBITDA Margin 30.0%
EBIT Margin 1.5% Total Debt/Equity 0.0%
Net Income Margin 4.0% Total Debt/Capital 0.0%
Asset Turnover 0.40
Current Ratio 2.57 Net Fixed Asset Turnover 0.57
Quick Ratio 2.01 Accounts receivable turnover-days 52.22
Debt to Assets 0.00% Inventory Days 75.58
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 110.73
Accounts Receivable Turnover 10.53 Cash Conversion Cycle 17.06
Inventory Turnover 7.28
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Alexco Resource CorpPrice/Volume
Valuation Analysis
186'072.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SPROTT INC n/a Co File 6'445'350 10.3 - 28.02.2013 Hedge Fund Manager
SPROTT INC SPROTT INC 13F 6'235'350 9.96 (624'500) 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 3'481'444 5.56 (361'629) 29.04.2013 Investment Advisor
COLUMBIA WANGER ASSE COLUMBIA WANGER ASSE 13F 2'683'000 4.29 (6'000) 31.12.2012 Investment Advisor
ASSET LIABILITY MANA n/a PROXY 1'940'299 3.1 - 09.05.2012 Other
NAUMAN CLYNTON R n/a SEDI 1'725'001 2.76 225'000 30.05.2012 n/a
RAFFLES ASSOCIATES L RAFFLES ASSOCIATES L 13F 1'203'671 1.92 - 31.12.2012 Hedge Fund Manager
PATHSTONE FAMILY OFF PATHSTONE FAMILY OFF 13F 814'919 1.3 - 31.12.2012 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 648'832 1.04 61'066 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 586'930 0.94 (425'145) 26.04.2013 Investment Advisor
THRALL BRADLEY A n/a SEDI 523'200 0.84 3'200 20.02.2013 n/a
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 500'000 0.8 (30'000) 28.02.2013 Investment Advisor
SEMAPHORE MANAGEMENT SEMAPHORE MANAGEMENT 13F 409'942 0.66 14'810 31.12.2012 Hedge Fund Manager
FORUM INVESTMENT ADV Multiple Portfolios MF-AGG 381'904 0.61 35'740 31.12.2012 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 309'416 0.49 57'107 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 251'242 0.4 - 31.03.2013 Investment Advisor
UNIVERSAL INS HOLDIN n/a ULT-AGG 137'613 0.22 - 31.12.2012 Insurance Company
NOMURA n/a ULT-AGG 115'766 0.19 (24'419) 31.12.2012 Unclassified
GROUP ONE TRADING LP GROUP ONE TRADING LP 13F 113'050 0.18 10'830 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 112'000 0.18 66'400 31.12.2012 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Global Hunter Securities JEFF WRIGHT neutral 3 M 4 12 month 29.04.2013
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 M 3 12 month 26.04.2013
Cormark Securities Inc. GRAEME JENNINGS market perform 3 M 4 12 month 22.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL hold 3 M 4 12 month 16.04.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 15.04.2013
Holdings By:
Alexco Resource Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
ATAC Resources Ltd. explores for gold in Canada.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (05.06.2012) 3.50
52-Week Low (04.03.2013) 0.91
Daily Volume
1.07
52-Week High % Change -69.43% Dividend Yield 0.00
52-Week Low % Change 17.58% Beta 1.63
% 52 Week Price Range High/Low 6.18% Equity Float 90.30
Shares Out 30.04.2013 113.2 Short Int 0.14
121.07 1 Yr Total Return -55.23%
Total Debt 0.00 YTD Return -38.51%
Preferred Stock 0.0 Adjusted BETA 1.626
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 15.04 Consensus Rating 5.000
Enterprise Value 106.04
Average Volume 5 Day 133'491
ATC CN EQUITY YTD Change - Average Volume 30 Day 257'060
ATC CN EQUITY YTD % CHANGE - Average Volume 3 Month 334'611
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
- 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
- (1.1) (3.1) - - 0.0 0.0 (5.4) (5.4) (1.0) (1.0)
- - - - - 0.00x 0.00x - - - -
- (1.1) (2.2) (24.8) (7.5) (24.8) (7.5) (3.5) (3.5) (0.9) (1.0)
- - - - - 0.00x 0.00x - - - -
EBITDA - Long-Term Rating Date -
EBIT -6.54 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -8.85% Short-Term Rating -
Return on Common Equity -10.04%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 18.93 Net Fixed Asset Turnover 0.00
Quick Ratio 18.66 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Atac Resources LtdPrice/Volume
Valuation Analysis
168'829.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 14'971'600 13.23 30'100 31.03.2013 Hedge Fund Manager
AGNICO-EAGLE MINES L n/a Co File 9'600'000 8.48 - 20.03.2013 Corporation
STRATEGIC METALS LTD n/a SEDI 9'556'286 8.45 (250'000) 05.04.2011 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 6'529'100 5.77 (29'460) 29.04.2013 Investment Advisor
CARNE ROBERT C n/a SEDI 1'987'126 1.76 20'000 22.02.2013 n/a
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 1'531'428 1.35 42'032 26.04.2013 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 1'124'700 0.99 - 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 558'195 0.49 (1'400) 31.12.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 523'000 0.46 (463'800) 31.12.2012 Hedge Fund Manager
GOSS DOUGLAS O n/a SEDI 482'588 0.43 28'300 25.02.2013 n/a
YEADON GLENN ROBERT n/a SEDI 424'667 0.38 70'000 08.03.2012 n/a
KENWAY BRUCE J n/a PROXY 400'000 0.35 - 13.04.2012 n/a
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 370'900 0.33 - 28.02.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 300'000 0.27 - 28.02.2013 Investment Advisor
GESIURIS SA SGIIC Multiple Portfolios MF-AGG 300'000 0.27 - 31.03.2013 Investment Advisor
DOWNS GRAHAM NOLAN n/a SEDI 255'000 0.23 135'000 17.02.2012 n/a
NEXGEN FINANCIAL LP Multiple Portfolios MF-AGG 225'000 0.2 75'000 30.06.2012 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 193'000 0.17 - 28.03.2013 Investment Advisor
TALBOT IAN J n/a SEDI 111'400 0.1 (5'000) 07.06.2012 n/a
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 97'200 0.09 13'300 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Macquarie MICHAEL GRAY outperform 5 M 2 12 month 25.04.2013
Raymond James GARY J BASCHUK Under Review #N/A N/A M #N/A N/A Not Provided 18.04.2013
GMP ANDREW MIKITCHOOK buy 5 M 5 12 month 19.03.2013
Paradigm Capital Inc DON MACLEAN hold 3 M 4 12 month 06.03.2012
Holdings By:
Atac Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Scorpio Mining Corporation explores for silver in Canada and Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (04.10.2012) 1.28
52-Week Low (01.05.2013) 0.45
Daily Volume
0.485
52-Week High % Change -62.11% Dividend Yield 0.00
52-Week Low % Change 8.99% Beta 1.46
% 52 Week Price Range High/Low 4.79% Equity Float 196.42
Shares Out 30.04.2013 198.4 Short Int 0.11
96.22 1 Yr Total Return -49.48%
Total Debt 0.00 YTD Return -52.91%
Preferred Stock 0.0 Adjusted BETA 1.456
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 31.05 Consensus Rating 5.000
Enterprise Value 65.18
Average Volume 5 Day 344'800
SPM CN EQUITY YTD Change - Average Volume 30 Day 662'641
SPM CN EQUITY YTD % CHANGE - Average Volume 3 Month 524'543
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 19.4 34.2 61.1 45.8 61.1 45.8 53.2 104.0 - -
- 4.59x 5.75x 5.89x 3.78x 18.97x 14.77x - - - -
(4.6) 6.6 11.9 29.4 14.2 29.4 14.2 7.1 18.6 - -
- 13.58x 16.54x 12.25x 12.23x 12.25x 12.23x 9.18x 3.50x - -
(90.7) 13.5 30.7 12.6 7.1 12.6 7.1 - - - -
- 6.00x 9.00x 32.50x 25.75x 32.50x 25.75x 13.11x 3.65x - -
EBITDA 14.18 Long-Term Rating Date -
EBIT 10.32 Long-Term Rating -
Operating Margin 22.52% Long-Term Outlook -
Pretax Margin 24.11% Short-Term Rating Date -
Return on Assets 4.85% Short-Term Rating -
Return on Common Equity 4.98%
Return on Capital 5.00% EBITDA/Interest Exp. -
Asset Turnover 0.31% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -2.19
Gross Margin 41.6% Total Debt/EBITDA 0.00
EBITDA Margin 30.9%
EBIT Margin 22.5% Total Debt/Equity 0.0%
Net Income Margin 15.5% Total Debt/Capital 0.0%
Asset Turnover 0.31
Current Ratio 21.39 Net Fixed Asset Turnover 0.54
Quick Ratio 18.19 Accounts receivable turnover-days 51.87
Debt to Assets 0.00% Inventory Days 82.23
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 27.78
Accounts Receivable Turnover 7.06 Cash Conversion Cycle 106.31
Inventory Turnover 4.45
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Scorpio Mining CorpPrice/Volume
Valuation Analysis
272'923.00
Current Price (5/dd/yy) Market Data
'
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50.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 34'089'105 17.18 (203'900) 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 15'901'925 8.02 (71'628) 29.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 9'523'000 4.8 - 31.12.2012 Investment Advisor
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 3'800'000 1.92 - 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 3'357'841 1.69 150'500 26.04.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 1'941'000 0.98 (2'341'300) 31.12.2012 Hedge Fund Manager
HAWLEY PETER J n/a Co File 1'843'436 0.93 - 31.12.2012 n/a
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'639'600 0.83 - 28.09.2012 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 1'400'000 0.71 - 28.02.2013 Investment Advisor
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 1'322'400 0.67 - 31.01.2013 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 424'600 0.21 - 28.02.2013 Investment Advisor
MATRIX FUND MANAGEME Multiple Portfolios MF-AGG 295'000 0.15 295'000 30.11.2012 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 156'048 0.08 - 31.07.2012 Investment Advisor
FACTOR ADVISORS LLC Multiple Portfolios MF-AGG 131'178 0.07 - 29.11.2012 Unclassified
SADEK JOHN n/a Co File 79'150 0.04 - 31.12.2012 n/a
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 75'011 0.04 - 31.01.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 64'206 0.03 - 26.04.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 59'540 0.03 - 31.01.2013 Investment Advisor
IFOS INTERNATIONALE Multiple Portfolios MF-AGG 45'000 0.02 - 27.03.2013 Investment Advisor
SCHOELLERBANK INVEST Multiple Portfolios MF-AGG 40'000 0.02 20'000 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities MIKE BANDROWSKI buy 5 M 2 12 month 29.04.2013
Casimir Capital ERIC WINMILL buy 5 M 1 12 month 29.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 2 12 month 19.03.2013
MLV & Co RICHARD TROTMAN suspended coverage #N/A N/A M #N/A N/A Not Provided 16.07.2012
EVA Dimensions TEAM COVERAGE buy 5 U #N/A N/A Not Provided 12.06.2012
Holdings By:
Scorpio Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Midway Gold Corp. explores and develops mineral resource properties. The
Company is currently exploring for gold on its Midway Prospect property located
in Nevada in the United States.
Latest Fiscal Year: 12/2010
LTM as of: 12/yy
52-Week High (18.10.2012) 1.80
52-Week Low (17.04.2013) 0.87
Daily Volume
0.972
52-Week High % Change -46.00% Dividend Yield 0.00
52-Week Low % Change 11.47% Beta 1.03
% 52 Week Price Range High/Low 10.78% Equity Float 98.45
Shares Out 01.05.2013 128.5 Short Int 3.91
124.85 1 Yr Total Return -21.61%
Total Debt 0.00 YTD Return -30.07%
Preferred Stock 44.3 Adjusted BETA 1.035
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 75.05 Consensus Rating 4.429
Enterprise Value 94.95
Average Volume 5 Day 226'610
MDW US EQUITY YTD Change - Average Volume 30 Day 329'021
MDW US EQUITY YTD % CHANGE - Average Volume 3 Month 345'231
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(11.6) (3.8) (6.3) (18.2) (14.3) (18.2) (14.3) (6.5) (7.5) - -
- - - - - 0.00x 0.00x - - - -
(16.2) (2.6) (5.8) (15.5) (15.3) (15.5) (15.3) (10.0) (15.1) (5.0) (5.0)
- - - - - 0.00x 0.00x - - - -
EBITDA -14.33 Long-Term Rating Date -
EBIT -14.73 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -15.54% Short-Term Rating -
Return on Common Equity -26.88%
Return on Capital - EBITDA/Interest Exp. -5311.80
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -8155.64
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 43.98 Net Fixed Asset Turnover 0.00
Quick Ratio 43.90 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Midway Gold CorpPrice/Volume
Valuation Analysis
234'590.00
Current Price (5/dd/yy) Market Data
'''-----...
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 9'931'302 7.73 2'604'621 29.04.2013 Investment Advisor
SHEERIN MATT n/a PROXY 8'200'906 6.38 - 07.03.2012 n/a
HALE JR MARTIN M n/a 13D 8'080'435 6.29 - 13.12.2012 n/a
HAWES GEORGE T n/a SEDI 7'361'064 5.73 (27'300) 31.10.2011 n/a
FRANKLIN RESOURCES n/a ULT-AGG 6'557'700 5.11 60'000 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 5'299'564 4.13 467'767 26.04.2013 Investment Advisor
DISBROW ROBERT n/a 13G 5'072'200 3.95 (75'800) 31.12.2011 n/a
VANGUARD GROUP INC VANGUARD GROUP INC 13F 2'914'011 2.27 (1'449'218) 31.03.2013 Investment Advisor
YU FRANK S n/a PROXY 1'709'646 1.33 - 07.03.2012 n/a
STATE STREET n/a ULT-AGG 1'645'010 1.28 (26'204) 26.04.2013 Investment Advisor
WOLFUS DANIEL EDWARD n/a SEDI 1'570'117 1.22 - 12.09.2011 n/a
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'481'758 1.15 (8'876) 31.12.2012 Investment Advisor
DAVENPORT & COMPANY DAVENPORT & COMPANY 13F 1'470'179 1.14 14'700 31.03.2013 Investment Advisor
GILDER GAGNON HOWE n/a 13G 1'219'343 0.95 - 30.04.2009 Investment Advisor
DEANS KNIGHT CAPITAL n/a 13G 1'144'360 0.89 - 31.12.2012 Investment Advisor
KUDU PARTNERS LP n/a SEDI 815'536 0.63 (161'701) 08.11.2007 Other
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 571'863 0.45 306'063 31.12.2012 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 558'000 0.43 - 28.02.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 445'429 0.35 - 31.12.2012 Hedge Fund Manager
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 435'535 0.34 (17'965) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON buy 5 M 2 Not Provided 26.04.2013
Canaccord Genuity Corp JOE MAZUMDAR speculative buy 4 M 2 12 month 23.04.2013
Jacob Securities Inc MATTHEW SHEPPARD buy 5 M 2 12 month 23.04.2013
Cormark Securities Inc. KYLE MCPHEE speculative buy 4 M 2 12 month 22.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 09.04.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 2 12 month 05.02.2013
Stonecap Securities Inc BRIAN SZETO outperform 5 M 2 12 month 08.01.2013
MLV & Co RICHARD TROTMAN suspended coverage #N/A N/A M #N/A N/A Not Provided 16.07.2012
Holdings By:
Midway Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Patagonia Gold PLC holds investments in mineral exploration companies involved
in identifying, acquiring, and developing mineral projects, either alone or with
joint-venture partners. The Company explores for gold in locations throughout
Argentina.
Latest Fiscal Year: 12/2012
LTM as of: 01/yy
52-Week High (28.05.2012) 33.50
52-Week Low (26.04.2013) 9.75
Daily Volume
14.25
52-Week High % Change -57.46% Dividend Yield 0.00
52-Week Low % Change 46.15% Beta 0.91
% 52 Week Price Range High/Low 15.79% Equity Float 540.59
Shares Out 30.04.2013 855.5 Short Int -
121.91 1 Yr Total Return -47.22%
Total Debt 0.38 YTD Return -36.67%
Preferred Stock 0.0 Adjusted BETA 0.905
Minority Interest 4.0 Analyst Recs 1
Cash and Equivalents 7.49 Consensus Rating 4.000
Enterprise Value 121.60
Average Volume 5 Day 894'459
PGD LN EQUITY YTD Change - Average Volume 30 Day 1'428'173
PGD LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'461'169
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 01/yy 01/yy 12/13 Y 12/14 Y - -
0.0 0.0 0.0 0.0 - - - - - - -
- - - - - - - - - - -
(5.8) (7.3) (11.3) (32.6) - - - - - - -
- - - - - - - - - - -
(5.8) (7.3) (11.3) (33.2) (20.8) - - - - - -
- - - - - - - - - - -
EBITDA -32.55 Long-Term Rating Date -
EBIT -33.37 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -89.33% Short-Term Rating -
Return on Common Equity -107.68%
Return on Capital - EBITDA/Interest Exp. -1085.03
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -1335.13
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 1.4%
Net Income Margin - Total Debt/Capital 1.2%
Asset Turnover 0.00
Current Ratio 1.83 Net Fixed Asset Turnover 0.00
Quick Ratio 0.98 Accounts receivable turnover-days -
Debt to Assets 0.94% Inventory Days -
Tot Debt to Common Equity 1.36% Accounts Payable Turnover Day 441.36
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 0.00
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Patagonia Gold PLCPrice/Volume
Valuation Analysis
130'046.00
Current Price (5/dd/yy) Market Data
'
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0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DIRECTOR & RELATED H Multiple Portfolios REG 149'037'867 17.44 2'753'684 02.01.2013 Other
BLACKROCK n/a ULT-AGG 140'531'949 16.44 (116'604) 26.04.2013 Investment Advisor
MIGUENS CARLOS JOSE n/a Co File 103'653'116 12.13 - 24.04.2012 n/a
UBS n/a ULT-AGG 96'575'359 11.3 590'460 02.01.2013 Unclassified
CINCO VIENTOS URUGUA Multiple Portfolios REG 50'361'585 5.89 9'636'316 02.01.2013 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 42'107'312 4.93 (189'648) 29.04.2013 Investment Advisor
VAN ECK GLOBAL Multiple Portfolios REG 36'986'715 4.33 (1'116'233) 02.01.2013 Unclassified
MIGUENS DIEGO n/a Co File 29'562'152 3.46 - 24.04.2012 n/a
TAHEH INTERNATIONAL Multiple Portfolios REG 28'353'264 3.32 - 02.01.2013 Other
BARRICK GOLD CORP Multiple Portfolios REG 28'323'264 3.31 - 02.01.2013 Corporation
MIGUENS CRISTINA n/a Co File 24'485'645 2.87 - 24.04.2012 n/a
HUMPHRIES WILLIAM HE n/a RNS-DIR 23'296'857 2.73 4'403'000 27.06.2012 n/a
HARGREAVE n/a ULT-AGG 14'767'188 1.73 2'125'000 02.01.2013 Unclassified
PRIVATE INDIVIDUALS Multiple Portfolios REG 13'399'969 1.57 (908'112) 02.01.2013 Other
COUTTS PRIVATE BANKI Multiple Portfolios REG 12'894'789 1.51 - 02.01.2013 Unclassified
F&C FUND MANAGEMENT Multiple Portfolios MF-AGG 9'941'137 1.16 - 28.02.2013 Investment Advisor
F&C ASSET MANAGEMENT Multiple Portfolios REG 9'722'734 1.14 (2'554'143) 02.01.2013 Investment Advisor
CRAVEN JOHN ANTHONY n/a Co File 9'455'190 1.11 - 24.04.2012 n/a
WALKER CRIPS STOCKBR Multiple Portfolios REG 9'385'378 1.1 (231'500) 02.01.2013 Other
INVESTEC WEALTH & IN Multiple Portfolios REG 7'247'490 0.85 (38'500) 02.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Fraser Mackenzie Limited ALEKSANDRA BUKACHEVA buy 5 M 59 Not Provided 02.01.2013
Mirabaud Securities NICHOLAS CHALMERS speculative buy 4 M 35 12 month 04.12.2012
Holdings By:
Patagonia Gold PLC ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Gryphon Minerals Ltd. explores for gold. The Company operates on the Banfora
Gold Project in Burkina Faso, Africa, and properties in Mauritania.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (24.09.2012) 0.99
52-Week Low (02.05.2013) 0.19
Daily Volume
0.245
52-Week High % Change -75.25% Dividend Yield 0.00
52-Week Low % Change 32.43% Beta 1.41
% 52 Week Price Range High/Low 6.83% Equity Float 390.17
Shares Out 31.12.2012 400.5 Short Int 15.55
98.11 1 Yr Total Return -67.55%
Total Debt 0.00 YTD Return -52.43%
Preferred Stock 0.0 Adjusted BETA 1.410
Minority Interest 0.0 Analyst Recs 13
Cash and Equivalents 46.22 Consensus Rating 4.000
Enterprise Value 47.46
Average Volume 5 Day 6'162'307
GRY AU EQUITY YTD Change - Average Volume 30 Day 3'736'988
GRY AU EQUITY YTD % CHANGE - Average Volume 3 Month 3'575'512
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
0.0 0.0 0.0 0.0 0.0 - - 0.8 1.4 - -
- - - - - - - 69.98x 91.12x - -
(3.3) (2.7) (3.9) (15.9) (8.0) - - (10.2) (8.8) - -
- - - - - - - - - - -
(3.1) (2.3) (3.2) (8.9) (5.9) - - (8.6) (6.7) - -
- - - - - - - - - - -
EBITDA -8.04 Long-Term Rating Date -
EBIT -8.20 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -1.76% Short-Term Rating -
Return on Common Equity -1.82%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 3.81 Net Fixed Asset Turnover 0.00
Quick Ratio 3.75 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Gryphon Minerals LtdPrice/Volume
Valuation Analysis
5'969'776.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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-
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0.1
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0.6
0.7
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 47'385'165 11.83 681'722 29.04.2013 Investment Advisor
GENESIS ASSET MANAGE n/a EXCH 20'682'524 5.16 - 12.03.2013 Investment Advisor
COMMONWEALTH BANK OF n/a EXCH 19'591'128 4.89 - 20.11.2012 Bank
AMP LTD n/a EXCH 16'488'127 4.12 (985'067) 22.10.2012 Insurance Company
ROYAL BANK OF CANADA n/a ULT-AGG 14'803'493 3.7 (160'194) 05.04.2011 Bank
JP MORGAN n/a ULT-AGG 9'593'063 2.4 2'154'872 28.02.2013 Investment Advisor
PARSONS STEPHEN n/a EXCH 6'990'601 1.75 - 18.12.2012 n/a
GCIC LTD/CANADA Multiple Portfolios MF-AGG 6'850'000 1.71 1'850'000 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 5'590'010 1.4 - 31.03.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 5'507'628 1.38 1'032'776 31.08.2011 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 4'493'276 1.12 123'200 26.04.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'934'525 0.98 - 28.02.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 3'498'398 0.87 - 28.02.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 2'360'000 0.59 - 29.03.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 1'988'755 0.5 - 31.07.2012 Investment Advisor
NETHERWAY DAVID GEOR n/a Co File 1'847'374 0.46 - 30.06.2012 n/a
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'820'050 0.45 (10'410) 30.09.2012 Investment Advisor
SHARE SICAV Multiple Portfolios MF-AGG 1'634'666 0.41 (530'000) 31.12.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'589'497 0.4 - 31.03.2013 Investment Advisor
ASHTON NORMAN MEL n/a EXCH 1'000'000 0.25 (200'000) 28.08.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities NANA SANGMUAH buy 5 M 1 12 month 29.04.2013
Macquarie MITCH RYAN neutral 3 M 1 12 month 26.04.2013
RBC Capital Markets GEOFF BREEN sector perform 3 M 0 12 month 25.04.2013
GMP LEVI SPRY buy 5 M 0 Not Provided 24.04.2013
Morgan Stanley BRENDAN FITZPATRICK Equalwt/In-Line 3 M 0 12 month 22.04.2013
Argonaut Securities Pty Ltd TROY IRVIN speculative buy 4 M 1 Not Provided 19.04.2013
Canaccord Genuity Corp REG SPENCER buy 5 M 1 Not Provided 17.04.2013
BMO Capital Markets ANDREW BREICHMANAS speculative outperform 4 M 1 Not Provided 15.04.2013
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 1 Not Provided 03.04.2013
RBS Morgans JAMES WILSON outperform 5 M 1 12 month 06.03.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 01.03.2013
Paradigm Capital Inc DON MACLEAN speculative buy 4 M 1 12 month 01.02.2013
Deutsche Bank CHRIS TERRY not rated #N/A N/A M #N/A N/A Not Provided 22.02.2012
DJ Carmichael Pty Ltd PAUL ADAMS speculative buy 4 M #N/A N/A Not Provided 24.08.2011
Holdings By:
Gryphon Minerals Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
DRDGOLD Limited is a mid-tier, unhedged gold producer with a mix of assets. The
Company's assets include underground mines and surface re-treatment operation
and exploration activities in South Africa.
Latest Fiscal Year: 06/2012
LTM as of: 03/yy
52-Week High (19.02.2013) 8.59
52-Week Low (31.08.2012) 5.35
Daily Volume
6.45
52-Week High % Change -24.91% Dividend Yield -
52-Week Low % Change 20.56% Beta 0.79
% 52 Week Price Range High/Low 33.95% Equity Float -
Shares Out 31.03.2013 38.5 Short Int 0.06
248.57 1 Yr Total Return 1.53%
Total Debt 30.69 YTD Return -18.28%
Preferred Stock 0.0 Adjusted BETA 0.789
Minority Interest 136.7 Analyst Recs 2
Cash and Equivalents 298.51 Consensus Rating 4.000
Enterprise Value -
Average Volume 5 Day 54'228
DRD US EQUITY YTD Change - Average Volume 30 Day 97'211
DRD US EQUITY YTD % CHANGE - Average Volume 3 Month 133'271
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 03/yy 03/yy 06/13 Y 06/14 Y 06/13 Q4 09/13 Q1
1'843.9 1'910.7 1'990.5 1'379.5 1'764.2 2'000.9 2'031.9 2'129.1 2'545.8 - -
0.86x 1.10x 0.64x 0.79x 1.09x 2.92x 4.62x - - - -
162.1 6.9 212.5 225.7 370.8 408.0 411.6 526.4 795.5 - -
9.75x 301.94x 6.03x 4.83x 5.21x 4.50x 6.72x - - - -
996.0 129.1 207.8 (287.9) 308.7 (117.3) 291.8 307.1 462.1 - -
- - - - - 0.00x 0.00x 7.32x 4.85x - -
EBITDA 370.76 Long-Term Rating Date -
EBIT 249.91 Long-Term Rating -
Operating Margin 14.17% Long-Term Outlook -
Pretax Margin 14.79% Short-Term Rating Date -
Return on Assets 10.71% Short-Term Rating -
Return on Common Equity 19.27%
Return on Capital - EBITDA/Interest Exp. 23.65
Asset Turnover 0.75% (EBITDA-Capex)/Interest Exp. 2.40
Net Debt/EBITDA -0.58
Gross Margin 20.6% Total Debt/EBITDA 0.42
EBITDA Margin 20.4%
EBIT Margin 13.8% Total Debt/Equity 2.0%
Net Income Margin 17.5% Total Debt/Capital 1.8%
Asset Turnover 0.75
Current Ratio 1.80 Net Fixed Asset Turnover 1.17
Quick Ratio 1.15 Accounts receivable turnover-days -
Debt to Assets 1.23% Inventory Days -
Tot Debt to Common Equity 2.05% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
DRDGOLD LtdPrice/Volume
Valuation Analysis
36'026.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'-.0123456
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SKAGEN AS Multiple Portfolios MF-AGG 3'724'701 9.66 - 27.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 931'970 2.42 (49'424) 29.04.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 536'792 1.39 (58'369) 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 390'470 1.01 59'200 31.12.2012 Hedge Fund Manager
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 115'000 0.3 - 31.01.2013 Investment Advisor
BRANCH BANKING & TRU BRANCH BANKING AND T 13F 110'000 0.29 - 31.03.2013 Bank
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 110'000 0.29 10'000 31.12.2012 Investment Advisor
ROTHSCHILD & COMPAGN Multiple Portfolios MF-AGG 100'000 0.26 - 31.01.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 49'176 0.13 17'676 31.03.2013 Investment Advisor
JANE STREET HOLDING JANE STREET HOLDING 13F 44'799 0.12 (6'532) 31.12.2012 Investment Advisor
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 36'297 0.09 - 31.12.2012 Investment Advisor
RUFFER LLP RUFFER LLP 13F 34'015 0.09 - 31.03.2013 Hedge Fund Manager
APERIO GROUP LLC APERIO GROUP LLC 13F 33'383 0.09 3'750 31.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 28'307 0.07 27'529 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 28'300 0.07 28'300 31.12.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 28'300 0.07 - 31.03.2013 Investment Advisor
COMMONWEALTH OF PENN COMMONWEALTH OF PENN 13F 26'529 0.07 (9'576) 31.12.2012 Pension Fund (ERISA)
BLACKROCK n/a ULT-AGG 20'181 0.05 20'133 31.03.2013 Investment Advisor
OXFORD ASSET MANAGEM OXFORD ASSET MANAGEM 13F 17'976 0.05 6'940 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 16'227 0.04 7'860 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 16.04.2013
Holdings By:
DRDGOLD Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Red 5 Limited is a minieral exploration and development company. The Company's
principal asset is the Siana Gold Project in the Philippines held under a
Mineral Production Sharing Agreement by a Red5 Philippine compliant company.
Red 5's second asset is the Mapawa MPSA, located north of Siana.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (05.10.2012) 1.75
52-Week Low (18.04.2013) 0.56
Daily Volume
0.62
52-Week High % Change -64.57% Dividend Yield 0.00
52-Week Low % Change 11.71% Beta 1.52
% 52 Week Price Range High/Low 5.44% Equity Float 134.28
Shares Out 31.12.2012 135.5 Short Int 0.79
84.00 1 Yr Total Return -60.00%
Total Debt 0.00 YTD Return -50.40%
Preferred Stock 0.0 Adjusted BETA 1.519
Minority Interest (0.4) Analyst Recs 3
Cash and Equivalents 13.46 Consensus Rating 2.333
Enterprise Value 92.27
Average Volume 5 Day 0
RED AU EQUITY YTD Change - Average Volume 30 Day 149'354
RED AU EQUITY YTD % CHANGE - Average Volume 3 Month 234'862
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
- - - 0.0 4.3 - - 43.8 125.0 - -
- - - - 42.84x - - 2.16x 0.42x - -
(1.4) (1.5) (2.2) (5.2) (2.9) - - 8.0 72.4 - -
- - - - - - - 11.47x 1.27x - -
(0.6) (0.9) (0.4) (8.1) (1.7) - - (7.3) 33.5 - -
- - - - - - - - 2.45x - -
EBITDA -2.93 Long-Term Rating Date -
EBIT -3.46 Long-Term Rating -
Operating Margin -80.96% Long-Term Outlook -
Pretax Margin -39.34% Short-Term Rating Date -
Return on Assets -5.70% Short-Term Rating -
Return on Common Equity -6.67%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 38.2% Total Debt/EBITDA -4.91
EBITDA Margin -29.5%
EBIT Margin -32.7% Total Debt/Equity 0.0%
Net Income Margin -40.8% Total Debt/Capital 0.0%
Asset Turnover 0.10
Current Ratio 2.36 Net Fixed Asset Turnover 0.28
Quick Ratio 1.34 Accounts receivable turnover-days 75.80
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 4.83 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Red 5 LtdPrice/Volume
Valuation Analysis
68'467.00
Current Price (5/dd/yy) Market Data
'''-----...
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FRANKLIN RESOURCES n/a ULT-AGG 17'841'590 13.17 40'000 31.01.2013 Investment Advisor
BAKER STEEL GOLD FUN n/a Co File 11'095'633 8.19 - 24.09.2012 n/a
JP MORGAN n/a ULT-AGG 9'638'245 7.11 (1'034'479) 31.12.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 9'206'232 6.79 - 29.04.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 6'663'000 4.92 - 27.12.2012 Hedge Fund Manager
DEUTSCHE BANK AG n/a EXCH 3'958'183 2.92 (3'160'399) 24.06.2011 Investment Advisor
GAMCO n/a ULT-AGG 2'208'823 1.63 - 31.12.2012 Unclassified
FMR LLC n/a ULT-AGG 1'326'000 0.98 - 31.03.2013 Investment Advisor
EDWARDS GREGORY CHAR n/a Co File 1'065'111 0.79 - 15.11.2012 n/a
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 679'951 0.5 - 30.09.2012 Investment Advisor
EIM CAPITAL MANAGERS Multiple Portfolios MF-AGG 301'926 0.22 (100'000) 30.11.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 260'849 0.19 (2'137'799) 31.12.2012 Hedge Fund Manager
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 53'740 0.04 - 31.01.2013 Investment Advisor
SCANLAN GARY FRANCIS n/a EXCH 50'000 0.04 - 31.12.2012 n/a
MOBILIA JOE n/a Co File 44'958 0.03 - 30.06.2012 n/a
BLACKROCK n/a ULT-AGG 41'803 0.03 - 26.04.2013 Investment Advisor
MILAZZO MARK FRANCIS n/a Co File 25'000 0.02 - 26.09.2012 n/a
JACKSON COLIN GEORGE n/a Co File 22'500 0.02 - 26.09.2012 n/a
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 17'274 0.01 - 31.01.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 12'704 0.01 - 31.07.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Wilson HTM Investment Group CAMERON JUDD sell 1 M 1 Not Provided 17.04.2013
Canaccord Genuity Corp REG SPENCER speculative buy 4 M 1 Not Provided 15.04.2013
Evans & Partners Pty Ltd CATHY MOISES neutral 3 D #N/A N/A Not Provided 03.01.2013
Bell Potter CHRIS WHITEHEAD buy 5 M 3 12 month 01.03.2012
Casimir Capital JAMES CROSBY overweight 5 M 3 12 month 06.02.2012
Holdings By:
Red 5 Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Lingbao Gold Company Ltd. mines and smelts gold. The Company produces gold
bullion, silver, copper products, and sulphuric acid.
Latest Fiscal Year: 12/2012
LTM as of: 06/yy
52-Week High (21.05.2012) 3.96
52-Week Low (29.04.2013) 2.23
Daily Volume
2.35
52-Week High % Change -40.66% Dividend Yield 3.76
52-Week Low % Change 5.38% Beta 0.79
% 52 Week Price Range High/Low 5.20% Equity Float 297.27
Shares Out 31.12.2012 297.3 Short Int -
1'818.37 1 Yr Total Return -31.82%
Total Debt 4'216.29 YTD Return -25.63%
Preferred Stock 0.0 Adjusted BETA 0.795
Minority Interest 46.7 Analyst Recs 4
Cash and Equivalents 267.94 Consensus Rating 3.500
Enterprise Value 5'434.14
Average Volume 5 Day 428'845
3330 HK EQUITY YTD Change - Average Volume 30 Day 472'804
3330 HK EQUITY YTD % CHANGE - Average Volume 3 Month 529'476
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 06/yy 06/yy 12/13 Y 12/14 Y 09/12 Q3 12/12 Q4
3'559.1 3'961.7 4'834.6 5'720.8 6'393.3 0.0 0.0 6'921.5 6'595.0 - -
0.72x 0.99x 1.40x 0.83x 0.93x #DIV/0! #DIV/0! 0.71x 0.74x - -
354.4 738.8 777.4 824.5 739.3 0.0 0.0 754.0 811.0 - -
7.26x 5.29x 8.71x 5.75x 8.05x 0.00x 0.00x 7.21x 6.70x - -
115.6 118.0 266.5 310.6 165.3 0.0 0.0 140.0 141.0 - -
11.63x 17.38x 16.59x 5.74x 12.10x 0.00x 0.00x 10.33x 10.05x - -
EBITDA 739.33 Long-Term Rating Date -
EBIT 469.78 Long-Term Rating -
Operating Margin 7.35% Long-Term Outlook -
Pretax Margin 3.51% Short-Term Rating Date -
Return on Assets 2.28% Short-Term Rating -
Return on Common Equity 7.05%
Return on Capital 5.53% EBITDA/Interest Exp. 3.06
Asset Turnover 0.88% (EBITDA-Capex)/Interest Exp. 1.51
Net Debt/EBITDA 5.34
Gross Margin 12.6% Total Debt/EBITDA 5.70
EBITDA Margin 11.6%
EBIT Margin 7.3% Total Debt/Equity 176.6%
Net Income Margin 2.6% Total Debt/Capital 63.4%
Asset Turnover 0.88
Current Ratio 1.10 Net Fixed Asset Turnover 2.55
Quick Ratio 0.20 Accounts receivable turnover-days 27.06
Debt to Assets 53.24% Inventory Days 173.83
Tot Debt to Common Equity 176.56% Accounts Payable Turnover Day 26.52
Accounts Receivable Turnover 13.52 Cash Conversion Cycle 174.37
Inventory Turnover 2.11
Fiscal Year Ended
Lingbao Gold Co LtdPrice/Volume
Valuation Analysis
550'000.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
'
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BANK OF NEW YORK MEL n/a EXCH 27'842'000 9.37 - 20.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 23'808'000 8.01 (120'000) 29.04.2013 Investment Advisor
VALUE PARTNERS GROUP n/a ULT-AGG 14'844'000 4.99 - 02.06.2011 Corporation
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 6'712'000 2.26 - 31.07.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 2'242'000 0.75 - 26.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'608'558 0.54 (136'000) 31.12.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 1'310'000 0.44 (580'000) 30.06.2011 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 736'000 0.25 - 31.01.2013 Investment Advisor
SCHOELLERBANK INVEST Multiple Portfolios MF-AGG 230'000 0.08 30'000 28.03.2013 Investment Advisor
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 190'000 0.06 - 31.01.2013 Investment Advisor
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 160'000 0.05 - 31.01.2013 Investment Advisor
HANDELSBANKEN FONDER Multiple Portfolios MF-AGG 122'000 0.04 - 31.03.2013 Investment Advisor
NOMURA INTERNATIONAL Multiple Portfolios MF-AGG 68'000 0.02 - 31.03.2012 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 58'910 0.02 - 26.04.2013 Investment Advisor
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 54'000 0.02 - 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Guotai Junan KEVIN GUO neutral 3 M 2 Not Provided 22.04.2013
Credit Suisse OWEN LIANG underperform 1 D 2 Not Provided 09.04.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 02.04.2013
BOCOM International Holdings RONGJIN LUO long-term buy 5 M 7 12 month 13.07.2012
First Shanghai Securities Ltd ZHANG ZHIBIN buy 5 N 6 12 month 28.03.2012
Holdings By:
Lingbao Gold Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
International Tower Hill Mines Ltd. acquires, explores, and evaluates mineral
properties. The Company currently possesses an expanding portfolio of Alaskan
and Nevada based gold and base metal exploration projects.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.05.2012) 3.83
52-Week Low (24.04.2013) 0.88
Daily Volume
0.93
52-Week High % Change -75.72% Dividend Yield -
52-Week Low % Change 5.68% Beta 1.07
% 52 Week Price Range High/Low 1.69% Equity Float 85.66
Shares Out 06.05.2013 98.1 Short Int 0.37
91.20 1 Yr Total Return -73.95%
Total Debt 0.00 YTD Return -57.14%
Preferred Stock 0.0 Adjusted BETA 1.073
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 30.35 Consensus Rating 2.667
Enterprise Value 67.02
Average Volume 5 Day 133'126
THM US EQUITY YTD Change - Average Volume 30 Day 213'646
THM US EQUITY YTD % CHANGE - Average Volume 3 Month 257'366
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 05/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - -
- - - - - #DIV/0! #DIV/0! #DIV/0! #DIV/0! - -
(3.2) (7.3) (12.1) (9.9) (55.5) (9.9) (55.5) (17.2) (19.3) - -
- - - - - 0.00x 0.00x - - - -
(2.4) (9.8) (17.9) (10.2) (56.6) (10.2) (56.6) (13.2) (14.6) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -55.52 Long-Term Rating Date -
EBIT -55.55 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -38.25% Short-Term Rating -
Return on Common Equity -46.46%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 8.39 Net Fixed Asset Turnover 0.00
Quick Ratio 8.17 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
International Tower Hill Mines LtdPrice/Volume
Valuation Analysis
116'497.00
Current Price (5/dd/yy) Market Data
'--..00112
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!2 F
-!' F
-!2 F
.!' F
.!2 F
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis FReTn/CTrThoT/PolhirTlAlcST/ !Rna /eis
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 17'207'269 17.55 37'800 31.03.2013 Hedge Fund Manager
ANGLOGOLD ASHANTI LT n/a SEDI 11'073'323 11.29 - 07.08.2012 Holding Company
PAULSON & CO PAULSON & CO 13F 8'949'654 9.13 - 31.12.2012 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 6'413'116 6.54 277'201 29.04.2013 Investment Advisor
TEXAS TEACHER RETIRE TEACHER RETIREMENT S 13F 2'099'836 2.14 - 31.12.2012 Pension Fund (ERISA)
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 1'926'411 1.96 (1'923'077) 31.12.2012 Hedge Fund Manager
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 1'014'000 1.03 - 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 900'425 0.92 34'847 31.12.2012 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 607'000 0.62 - 28.02.2013 Investment Advisor
FMR LLC n/a ULT-AGG 546'700 0.56 - 31.03.2013 Investment Advisor
DRESCHER ANTON J n/a SEDI 489'218 0.5 (50'000) 21.12.2012 n/a
PONTIUS JEFFREY A n/a SEDI 383'566 0.39 (195'600) 07.01.2013 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 345'617 0.35 - 31.03.2013 Investment Advisor
UNIVERSAL INS HOLDIN n/a ULT-AGG 345'555 0.35 114'825 31.12.2012 Insurance Company
CARRIERE DANIEL A n/a SEDI 294'735 0.3 - 22.11.2011 n/a
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 266'450 0.27 (71'809) 31.12.2012 Investment Advisor
DEUTSCHE BANK AG DEUTSCHE BANK AKTIEN 13F 241'109 0.25 110'867 31.12.2012 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 233'600 0.24 106'100 31.12.2012 Hedge Fund Manager
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 220'000 0.22 - 31.12.2012 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 208'228 0.21 (224'772) 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ANITA SONI underperform 1 M 1 Not Provided 22.04.2013
BMO Capital Markets JOHN P HAYES Speculative Underperform 2 D #N/A N/A Not Provided 14.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 8 Not Provided 09.04.2013
Salman Partners DAVID WEST Under Review #N/A N/A M #N/A N/A Not Provided 08.11.2012
Holdings By:
International Tower Hill Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Saracen Mineral Holdings Ltd. explores for and produces gold. The Company
produces gold from its Carosue Dam mine located notheast of Kalgoorlie, Western
Australia.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (07.06.2012) 0.62
52-Week Low (24.04.2013) 0.14
Daily Volume
0.18
52-Week High % Change -70.73% Dividend Yield 0.00
52-Week Low % Change 28.57% Beta 1.13
% 52 Week Price Range High/Low 7.37% Equity Float 532.79
Shares Out 06.02.2013 595.3 Short Int 16.67
107.15 1 Yr Total Return -65.05%
Total Debt 3.06 YTD Return -52.63%
Preferred Stock 0.0 Adjusted BETA 1.134
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 20.31 Consensus Rating 3.714
Enterprise Value 114.72
Average Volume 5 Day 5'885'466
SAR AU EQUITY YTD Change - Average Volume 30 Day 7'354'706
SAR AU EQUITY YTD % CHANGE - Average Volume 3 Month 5'932'693
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
0.0 - 31.4 155.7 183.8 - - 210.5 237.7 - -
- - 5.26x 1.58x 1.70x - - 0.60x 0.43x - -
(1.9) (9.5) 14.7 59.5 63.1 - - 61.2 82.6 - -
- - 11.26x 4.15x 4.96x - - 1.88x 1.39x - -
(1.8) (10.0) (25.4) 47.7 18.7 - - 16.2 35.2 - -
- - - 5.49x 16.82x - - 5.29x 2.65x - -
EBITDA 63.08 Long-Term Rating Date -
EBIT 36.49 Long-Term Rating -
Operating Margin 19.86% Long-Term Outlook -
Pretax Margin 14.53% Short-Term Rating Date -
Return on Assets -5.47% Short-Term Rating -
Return on Common Equity -7.16%
Return on Capital - EBITDA/Interest Exp. 492.83
Asset Turnover 0.74% (EBITDA-Capex)/Interest Exp. -271.65
Net Debt/EBITDA 0.15
Gross Margin - Total Debt/EBITDA 0.28
EBITDA Margin 27.8%
EBIT Margin 7.1% Total Debt/Equity 1.5%
Net Income Margin 10.2% Total Debt/Capital 1.4%
Asset Turnover 0.74
Current Ratio 3.39 Net Fixed Asset Turnover 1.33
Quick Ratio 0.96 Accounts receivable turnover-days 9.82
Debt to Assets 1.21% Inventory Days -
Tot Debt to Common Equity 1.47% Accounts Payable Turnover Day -
Accounts Receivable Turnover 37.26 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Saracen Mineral Holdings LtdPrice/Volume
Valuation Analysis
9'410'013.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 42'407'248 7.12 6'250'328 29.04.2013 Investment Advisor
RENAISSANCE SMALL CO n/a EXCH 37'893'341 6.37 7'527'707 27.03.2013 Other
VINVA INVESTMENT MGM n/a EXCH 30'177'676 5.07 662'238 18.03.2013 Investment Advisor
COMMONWEALTH BANK OF n/a EXCH 29'318'248 4.93 (1'361'474) 08.03.2012 Bank
SPROTT INC n/a EXCH 28'800'451 4.84 (841'000) 27.01.2012 Hedge Fund Manager
ARVE CHARLES n/a EXCH 28'685'450 4.82 (320'000) 19.07.2011 n/a
JCP INVESTMENT PARTN n/a EXCH 26'084'770 4.38 (5'314'150) 09.02.2012 Investment Advisor
BANK OF AMERICA CORP n/a EXCH 22'796'021 3.83 (2'168'808) 04.05.2011 Investment Advisor
STALTARI GUIDO n/a Co File 14'407'252 2.42 - 31.08.2012 n/a
CF RUFFER BAKER STEE n/a EXCH 14'000'000 2.35 (4'949'162) 26.05.2011 n/a
JP MORGAN n/a ULT-AGG 12'874'879 2.16 - 31.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 6'500'000 1.09 4'500'000 31.12.2012 Unclassified
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 5'000'000 0.84 - 30.06.2012 Investment Advisor
FMR LLC n/a ULT-AGG 4'816'787 0.81 1'824'299 31.03.2013 Investment Advisor
GENUS DYNAMIC GOLD F n/a EXCH 4'100'000 0.69 (1'739'000) 26.05.2011 n/a
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 3'267'666 0.55 6'847 31.07.2012 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'896'045 0.49 (43'038) 31.03.2013 Investment Advisor
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'671'902 0.45 (20'201) 30.09.2012 Investment Advisor
VON DER HEYDT KERSTE Multiple Portfolios MF-AGG 1'100'000 0.18 - 28.12.2012 Investment Advisor
SNS INVESTMENT FUND Multiple Portfolios MF-AGG 1'043'794 0.18 335 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp REG SPENCER hold 3 D 0 12 month 24.04.2013
Ord Minnett DAVID BRENNAN buy 5 M 0 Not Provided 19.04.2013
Argonaut Securities Pty Ltd TROY IRVIN buy 5 M 0 Not Provided 19.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 16.04.2013
RBS Morgans JAMES WILSON outperform 5 N 1 12 month 27.11.2012
Evans & Partners Pty Ltd CATHY MOISES Positive 4 U #N/A N/A Not Provided 27.09.2012
Holdings By:
Saracen Mineral Holdings Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Exeter Resource Corporation explores for, evaluates, and develops mineral
deposits in South America. The Company's focus is on gold exploration in
Argentina and Chile.
Latest Fiscal Year: 12/2011
LTM as of: 12/yy
52-Week High (10.05.2012) 2.41
52-Week Low (08.05.2013) 0.80
Daily Volume
0.84
52-Week High % Change -65.15% Dividend Yield 0.00
52-Week Low % Change 4.93% Beta 0.76
% 52 Week Price Range High/Low 2.45% Equity Float 82.23
Shares Out 30.04.2013 88.4 Short Int 0.58
74.26 1 Yr Total Return -63.16%
Total Debt 0.00 YTD Return -30.58%
Preferred Stock 0.0 Adjusted BETA 0.763
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 55.52 Consensus Rating 2.750
Enterprise Value 18.74
Average Volume 5 Day 119'797
XRA US EQUITY YTD Change - Average Volume 30 Day 180'302
XRA US EQUITY YTD % CHANGE - Average Volume 3 Month 203'567
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(27.4) (27.6) (29.9) (31.8) (26.0) (31.8) (25.9) (11.7) (11.5) - -
- - - - - 0.00x 0.00x - - - -
(27.0) (27.3) 83.8 (30.9) (25.2) (31.0) (25.2) (11.7) (11.5) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -25.97 Long-Term Rating Date -
EBIT -26.09 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -39.05% Short-Term Rating -
Return on Common Equity -39.92%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 60.65 Net Fixed Asset Turnover 0.00
Quick Ratio 60.55 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover -
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Exeter Resource CorpPrice/Volume
Valuation Analysis
147'300.00
Current Price (5/dd/yy) Market Data
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10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 5'857'880 6.63 (694'273) 29.04.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 3'050'700 3.45 1'012'800 31.12.2012 Hedge Fund Manager
ROWEN COMPANY LTD n/a SEDI 2'600'000 2.94 100'000 09.02.2012 Corporation
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 2'445'758 2.77 381'741 31.12.2012 Hedge Fund Manager
TSP CAPITAL MANAGEME TSP CAPITAL MANAGEME 13F 2'413'000 2.73 691'500 31.12.2012 Investment Advisor
POLYGON MANAGEMENT L POLYGON MANAGEMENT L 13F 2'062'713 2.33 2'062'713 31.12.2012 Investment Advisor
SIMPSON YALE R n/a SEDI 1'709'350 1.93 13'600 26.12.2012 n/a
SPROTT INC SPROTT INC 13F 1'643'300 1.86 (1'684'900) 31.03.2013 Hedge Fund Manager
LIBRA ADVISORS LLC LIBRA ADVISORS LLC 13F 1'546'988 1.75 (186'800) 31.12.2012 Hedge Fund Manager
ROXBURGH BRYCE G n/a SEDI 1'409'450 1.59 - 02.05.2011 n/a
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 807'700 0.91 305'300 31.12.2012 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 785'000 0.89 - 28.02.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 642'545 0.73 - 31.12.2012 Corporation
UNIVERSAL INS HOLDIN n/a ULT-AGG 537'725 0.61 329'447 31.12.2012 Insurance Company
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 530'200 0.6 530'200 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 500'000 0.57 - 31.12.2012 Investment Advisor
OPPENHEIMER & CO INC OPPENHEIMER & CO INC 13F 402'861 0.46 (739) 31.12.2012 Hedge Fund Manager
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 395'202 0.45 (90'298) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 272'400 0.31 100 31.03.2013 Investment Advisor
PERKINS SIMON RICHAR n/a SEDI 270'652 0.31 77'000 02.02.2011 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities DANIEL EARLE speculative buy 4 M 1 12 month 23.04.2013
Salman Partners DAVID WEST speculative buy 4 M 8 Not Provided 17.04.2013
BMO Capital Markets JOHN P HAYES Speculative Underperform 2 D #N/A N/A Not Provided 14.04.2013
Mine2Capital Inc ALKA SINGH sell 1 M 1 Not Provided 04.02.2013
Holdings By:
Exeter Resource Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Richmont Mines, Inc. is a Canadian gold mining company. The Company owns and
operates the Francoeur, Beaufor and East Amphi mines located in Quebec, the
Nugget Pond and Hammerdown mines in Newfoundland, and the Island Gold Mine in
Ontario.
Latest Fiscal Year: 12/2008
LTM as of: 12/yy
52-Week High (06.06.2012) 6.77
52-Week Low (17.04.2013) 1.80
Daily Volume
2.03
52-Week High % Change -70.01% Dividend Yield 0.00
52-Week Low % Change 12.78% Beta 1.20
% 52 Week Price Range High/Low 4.63% Equity Float 33.24
Shares Out 30.04.2013 39.6 Short Int 0.64
80.38 1 Yr Total Return -67.88%
Total Debt 1.63 YTD Return -32.56%
Preferred Stock 0.0 Adjusted BETA 1.199
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 59.84 Consensus Rating 4.333
Enterprise Value 22.72
Average Volume 5 Day 71'992
RIC US EQUITY YTD Change - Average Volume 30 Day 120'364
RIC US EQUITY YTD % CHANGE - Average Volume 3 Month 137'622
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
70.6 71.9 90.5 118.6 101.7 118.5 104.3 111.0 135.0 - -
0.43x 1.15x 1.31x 2.51x 0.59x 7.75x 4.73x - - - -
9.8 6.9 19.7 40.5 8.2 40.5 7.9 - - - -
3.07x 11.99x 5.99x 7.36x 7.34x 7.36x 7.62x - - - -
1.6 0.3 9.3 25.9 (45.0) 25.9 (45.0) 8.0 17.0 - -
29.71x - 16.48x 14.78x - 14.99x 0.00x 7.17x 4.81x - -
EBITDA 8.18 Long-Term Rating Date -
EBIT -2.59 Long-Term Rating -
Operating Margin -2.54% Long-Term Outlook -
Pretax Margin -2.56% Short-Term Rating Date -
Return on Assets -28.47% Short-Term Rating -
Return on Common Equity -35.66%
Return on Capital - EBITDA/Interest Exp. 12.48
Asset Turnover 0.66% (EBITDA-Capex)/Interest Exp. -45.23
Net Debt/EBITDA -7.38
Gross Margin 27.5% Total Debt/EBITDA 0.21
EBITDA Margin 7.6%
EBIT Margin -2.8% Total Debt/Equity 1.4%
Net Income Margin -44.2% Total Debt/Capital 1.4%
Asset Turnover 0.66
Current Ratio 3.63 Net Fixed Asset Turnover 1.46
Quick Ratio 3.04 Accounts receivable turnover-days 10.50
Debt to Assets 1.10% Inventory Days 36.58
Tot Debt to Common Equity 1.38% Accounts Payable Turnover Day 69.77
Accounts Receivable Turnover 34.87 Cash Conversion Cycle -23.79
Inventory Turnover 10.00
Fiscal Year Ended
Richmont Mines IncPrice/Volume
Valuation Analysis
89'577.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
OXBRIDGE BANK & TRUS n/a PROXY 5'016'363 12.67 - 28.03.2013 Investment Advisor
RESOLUTE FUNDS LTD n/a 13G 3'617'600 9.14 487'600 28.01.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 2'730'000 6.89 - 31.12.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 2'645'068 6.68 159'157 29.04.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 2'060'300 5.2 (198'400) 31.12.2012 Hedge Fund Manager
WEISS ASSET MANAGEME n/a 13G 1'968'700 4.97 (31'300) 29.01.2013 Hedge Fund Manager
CHAMANDY H GREGORY n/a SEDI 995'509 2.51 14 11.01.2012 n/a
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 710'095 1.79 420'295 31.03.2013 Investment Advisor
PARADIGM CAPITAL MAN PARADIGM CAPITAL MAN 13F 675'305 1.71 2'325 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 549'500 1.39 (96'000) 31.03.2013 Hedge Fund Manager
CITIGROUP INCORPORAT CITIGROUP INCORPORAT 13F 416'816 1.05 415'383 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 318'842 0.81 17'183 31.12.2012 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 260'000 0.66 - 31.12.2012 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 185'200 0.47 (194'200) 31.12.2012 Pension Fund (ERISA)
FMR LLC n/a ULT-AGG 145'300 0.37 115'300 31.03.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 137'000 0.35 (33'700) 31.12.2012 Investment Advisor
BOGLE INVESTMENT MAN BOGLE INVESTMENT MAN 13F 120'105 0.3 (112'503) 31.12.2012 Hedge Fund Manager
HOULE REJEAN n/a SEDI 76'500 0.19 - 09.03.2012 n/a
CARMEL PAUL R n/a SEDI 63'000 0.16 10'000 11.03.2013 n/a
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 60'900 0.15 (862'865) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Desjardins Securities ADAM MELNYK buy 5 M 5 12 month 12.04.2013
CIBC World Markets KEVIN CHIEW sector perform 3 M 4 Not Provided 11.04.2013
Casimir Capital ERIC ALLISON overweight 5 M 5 12 month 04.12.2012
Holdings By:
Richmont Mines Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Ramelius Resources Limited is a gold exploration and production company with
exploration activities focused in Western Australia. The Company also explores
for base metals.
Latest Fiscal Year: 06/2012
LTM as of: 01/yy
52-Week High (06.06.2012) 0.66
52-Week Low (30.04.2013) 0.20
Daily Volume
0.235
52-Week High % Change -64.12% Dividend Yield 0.00
52-Week Low % Change 17.50% Beta 0.94
% 52 Week Price Range High/Low 2.20% Equity Float 307.09
Shares Out 08.05.2013 337.7 Short Int 6.08
79.37 1 Yr Total Return -50.00%
Total Debt 4.24 YTD Return -46.59%
Preferred Stock 0.0 Adjusted BETA 0.938
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 48.76 Consensus Rating 3.667
Enterprise Value 40.06
Average Volume 5 Day 488'191
RMS AU EQUITY YTD Change - Average Volume 30 Day 1'308'356
RMS AU EQUITY YTD % CHANGE - Average Volume 3 Month 1'927'550
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.06.2008 30.06.2009 30.06.2010 30.06.2011 30.06.2012 01/yy 01/yy 06/13 Y 06/14 Y - -
14.9 19.9 61.3 148.1 84.3 - - 128.0 167.0 - -
6.95x - 0.81x 1.95x 1.40x - - 0.44x 0.09x - -
2.2 11.8 38.0 108.6 12.8 - - 25.2 54.4 - -
46.27x - 1.30x 2.66x 9.27x - - 1.59x 0.74x - -
0.6 5.0 20.2 62.4 2.3 - - 2.8 28.1 - -
191.25x 19.23x 5.93x 5.98x 66.44x - - 29.38x 2.76x - -
EBITDA 12.78 Long-Term Rating Date -
EBIT 1.64 Long-Term Rating -
Operating Margin 1.94% Long-Term Outlook -
Pretax Margin 5.19% Short-Term Rating Date -
Return on Assets -6.80% Short-Term Rating -
Return on Common Equity -9.34%
Return on Capital - EBITDA/Interest Exp. 6.84
Asset Turnover 0.40% (EBITDA-Capex)/Interest Exp. -31.59
Net Debt/EBITDA -
Gross Margin 32.6% Total Debt/EBITDA -0.36
EBITDA Margin -9.1%
EBIT Margin -19.7% Total Debt/Equity 2.1%
Net Income Margin 2.8% Total Debt/Capital 2.0%
Asset Turnover 0.40
Current Ratio 3.17 Net Fixed Asset Turnover 0.71
Quick Ratio 1.53 Accounts receivable turnover-days 20.11
Debt to Assets 1.49% Inventory Days 61.01
Tot Debt to Common Equity 2.09% Accounts Payable Turnover Day 65.93
Accounts Receivable Turnover 18.20 Cash Conversion Cycle 130.79
Inventory Turnover 6.00
Fiscal Year Ended
Ramelius Resources LtdPrice/Volume
Valuation Analysis
1'843'904.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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20.0
40.0
60.0
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100.0
120.0
140.0
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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SPROTT INC n/a EXCH 23'947'605 7.09 (5'818'592) 06.02.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 23'646'913 7 - 29.04.2013 Investment Advisor
PARADICE INVESTMENT n/a EXCH 15'269'179 4.52 (3'686'804) 16.04.2013 Investment Advisor
BEACH ENERGY LTD n/a EXCH 14'053'269 4.16 (6'046'734) 21.06.2011 Corporation
MANDURANG PTY LTD n/a EXCH 6'442'856 1.91 - 27.02.2013 Other
NELSON REGINALD GEOR n/a Co File 5'331'984 1.58 - 27.08.2012 n/a
DIMENSIONAL FUND ADV Multiple Portfolios MF-AGG 2'687'685 0.8 - 31.07.2012 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 2'510'025 0.74 (197'128) 31.08.2011 Investment Advisor
HOULDSWORTH JOSEPH F n/a EXCH 2'374'259 0.7 - 26.05.2011 n/a
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'787'654 0.53 1'526 30.09.2012 Investment Advisor
KENNEDY ROBERT MICHA n/a EXCH 1'557'144 0.46 90'000 27.02.2013 n/a
SCHRODER INVESTMENT SCHRODER GLOBAL QUAN UT-UK 1'236'775 0.37 (17'722) 31.12.2012 Investment Advisor
GORDON IAN JAMES n/a EXCH 1'099'021 0.33 500'000 26.11.2012 n/a
FMR LLC n/a ULT-AGG 980'000 0.29 - 31.03.2013 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 608'253 0.18 - 28.03.2013 Investment Advisor
SCHRODER INVESTMENT SISF GLOBAL ACTIVE V MF-LUX 412'353 0.12 273'933 31.12.2012 Investment Advisor
SCHRODER INVESTMENT SCHRODER DIVERSIFIED UT-UK 389'960 0.12 - 28.09.2012 Investment Advisor
MERRICKS CAPITAL SPE n/a EXCH 279'000 0.08 - 28.07.2010 Other
VANGUARD GROUP INC Multiple Portfolios MF-AGG 180'600 0.05 (1'500'049) 31.12.2012 Investment Advisor
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 156'786 0.05 - 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 0 12 month 22.04.2013
Ord Minnett DAVID BRENNAN buy 5 M 0 Not Provided 17.04.2013
EVA Dimensions TEAM COVERAGE underweight 1 D #N/A N/A Not Provided 05.09.2012
Casimir Capital ERIC ALLISON overweight 5 M 1 12 month 06.05.2012
Holdings By:
Ramelius Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Golden Minerals Company is a mining company with a focus on exploration,
development, providing mining services, and growth through strategic business
transactions. The Company manages the San Cristobal silver and zinc mine in
Bolivia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (13.09.2012) 7.22
52-Week Low (17.04.2013) 1.46
Daily Volume
1.55
52-Week High % Change -78.53% Dividend Yield 0.00
52-Week Low % Change 6.16% Beta 1.66
% 52 Week Price Range High/Low 1.56% Equity Float 33.77
Shares Out 08.05.2013 43.3 Short Int 5.14
67.07 1 Yr Total Return -70.02%
Total Debt 0.00 YTD Return -66.23%
Preferred Stock 0.0 Adjusted BETA 1.660
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 44.65 Consensus Rating 3.750
Enterprise Value 22.42
Average Volume 5 Day 215'954
AUMN US EQUITY YTD Change - Average Volume 30 Day 327'046
AUMN US EQUITY YTD % CHANGE - Average Volume 3 Month 353'512
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
419.5 12.4 11.2 1.8 26.1 1.8 26.1 36.1 55.8 7.7 9.3
- 1.87x 25.16x 86.44x 5.90x 418.31x 27.94x - - - -
25.0 (14.2) (32.0) (63.8) (34.7) (63.8) (34.7) (20.8) (5.0) (6.2) (5.5)
- - - - - 0.00x 0.00x - - - -
(118.2) 211.3 (33.3) (62.7) (92.0) (62.7) (92.0) (29.0) (20.7) (7.5) (7.0)
- 1.31x - - - 0.00x 0.00x - - - -
EBITDA -34.71 Long-Term Rating Date -
EBIT -44.73 Long-Term Rating -
Operating Margin -171.46% Long-Term Outlook -
Pretax Margin -383.50% Short-Term Rating Date -
Return on Assets -24.18% Short-Term Rating -
Return on Common Equity -29.54%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.07% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin -66.3% Total Debt/EBITDA 0.00
EBITDA Margin -133.1%
EBIT Margin -171.5% Total Debt/Equity 0.0%
Net Income Margin -352.8% Total Debt/Capital 0.0%
Asset Turnover 0.07
Current Ratio 4.12 Net Fixed Asset Turnover 0.09
Quick Ratio 3.45 Accounts receivable turnover-days 18.30
Debt to Assets 0.00% Inventory Days 36.70
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 63.13
Accounts Receivable Turnover 20.00 Cash Conversion Cycle -8.14
Inventory Turnover 9.97
Fiscal Year Ended
Golden Minerals CoPrice/Volume
Valuation Analysis
265'152.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTIENT GLB RES IV n/a Form 4 4'483'944 10.36 1'365'794 19.09.2012 Other
SENTIENT GLB FND III n/a 13D 3'582'746 8.28 - 19.09.2012 n/a
VAN ECK ASSOCIATES C n/a ULT-AGG 2'392'464 5.53 715'584 29.04.2013 Investment Advisor
GILDER GAGNON HOWE GILDER GAGNON HOWE 13F 1'707'720 3.95 (185'445) 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 1'477'047 3.41 62'733 26.04.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 1'065'344 2.46 (449'632) 31.03.2013 Investment Advisor
SENTRY SELECT CAPITA Multiple Portfolios MF-AGG 706'350 1.63 - 30.06.2012 Investment Advisor
CLEVENGER JEFFREY G n/a Form 4 540'756 1.25 285'700 14.12.2012 n/a
SPROTT INC SPROTT INC 13F 513'400 1.19 (48'900) 31.03.2013 Hedge Fund Manager
STATE STREET n/a ULT-AGG 494'651 1.14 (200) 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 465'908 1.08 61'833 31.12.2012 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 448'749 1.04 193'061 31.12.2012 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 410'887 0.95 (372'712) 31.12.2012 Investment Advisor
PEAK6 INVESTMENTS LP PEAK6 INVESTMENTS LP 13F 409'864 0.95 221'660 31.12.2012 Hedge Fund Manager
SGRF III PARALLEL I n/a 13D 357'044 0.83 - 19.09.2012 Other
SPOT TRADING LLC SPOT TRADING LLC 13F 301'696 0.7 164'191 31.12.2012 Investment Advisor
DIMENSIONAL FUND ADV DIMENSIONAL FUND ADV 13F 290'947 0.67 35'275 31.12.2012 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 223'748 0.52 (127'252) 28.09.2012 Investment Advisor
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 204'626 0.47 - 31.12.2012 Investment Advisor
GROUP ONE TRADING LP GROUP ONE TRADING LP 13F 204'198 0.47 97'999 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities DANIEL EARLE reduce 2 M 1 12 month 23.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL hold 3 M 4 12 month 16.04.2013
Stonegate Securities Inc MARCO RODRIGUEZ no rating system #N/A N/A N #N/A N/A Not Provided 10.04.2013
Cowen Securities LLC ADAM P GRAF buy 5 M 10 Not Provided 09.04.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 25.03.2013
Holdings By:
Golden Minerals Co ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
San Gold Corporation explores and develops mineral properties. The Company is
focusing on the development of its gold mine located in Manitoba, Canada.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (06.06.2012) 1.61
52-Week Low (17.04.2013) 0.16
Daily Volume
0.18
52-Week High % Change -88.82% Dividend Yield 0.00
52-Week Low % Change 12.50% Beta 1.41
% 52 Week Price Range High/Low 1.38% Equity Float 323.26
Shares Out 30.04.2013 335.2 Short Int 0.11
60.34 1 Yr Total Return -87.05%
Total Debt 3.12 YTD Return -76.62%
Preferred Stock 0.0 Adjusted BETA 1.409
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 11.58 Consensus Rating 2.429
Enterprise Value 51.88
Average Volume 5 Day 809'880
SGR CN EQUITY YTD Change - Average Volume 30 Day 1'496'608
SGR CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'624'117
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
8.7 27.8 58.0 114.1 142.1 114.1 142.1 130.5 169.5 - -
31.33x 34.61x 19.66x 5.05x 1.76x 25.74x 9.22x - - - -
(44.1) (29.7) (18.9) 12.5 35.9 12.5 35.9 35.3 48.2 - -
- - - 46.18x 6.96x 46.18x 6.96x 1.47x 1.08x - -
(33.4) (29.5) (24.6) (5.1) (13.2) (5.1) (13.2) (19.4) 6.3 - -
- - - - - 0.00x 0.00x - - - -
EBITDA 35.89 Long-Term Rating Date -
EBIT -12.41 Long-Term Rating -
Operating Margin -8.73% Long-Term Outlook -
Pretax Margin -12.29% Short-Term Rating Date -
Return on Assets -5.23% Short-Term Rating -
Return on Common Equity -5.91%
Return on Capital - EBITDA/Interest Exp. 91.77
Asset Turnover 0.56% (EBITDA-Capex)/Interest Exp. -106.87
Net Debt/EBITDA -0.24
Gross Margin 14.5% Total Debt/EBITDA 0.09
EBITDA Margin 25.2%
EBIT Margin -8.7% Total Debt/Equity 1.3%
Net Income Margin -9.3% Total Debt/Capital 1.3%
Asset Turnover 0.56
Current Ratio 1.46 Net Fixed Asset Turnover 0.72
Quick Ratio 0.86 Accounts receivable turnover-days 32.64
Debt to Assets 1.17% Inventory Days 43.94
Tot Debt to Common Equity 1.34% Accounts Payable Turnover Day 34.65
Accounts Receivable Turnover 11.21 Cash Conversion Cycle 41.93
Inventory Turnover 8.33
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
San Gold CorpPrice/Volume
Valuation Analysis
1'066'349.00
Current Price (5/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GCIC LTD/CANADA n/a Co File 41'625'000 12.42 (1'406'400) 30.11.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 26'287'480 7.84 (118'596) 29.04.2013 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 13'600'000 4.06 3'200'000 30.11.2012 Investment Advisor
JOHN HANCOCK ADVISER Multiple Portfolios MF-AGG 12'158'575 3.63 3'980'808 28.02.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 9'190'700 2.74 20'500 31.12.2012 Hedge Fund Manager
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 9'041'600 2.7 - 31.01.2013 Investment Advisor
WYNNE HUGH n/a SEDI 8'160'002 2.43 300'000 24.05.2011 n/a
FRANKLIN RESOURCES n/a ULT-AGG 8'001'200 2.39 45'000 31.01.2013 Investment Advisor
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 5'856'803 1.75 368'089 31.01.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 3'188'303 0.95 - 28.09.2012 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 1'875'000 0.56 (193'600) 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 1'866'900 0.56 (140'000) 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'600'000 0.48 - 28.02.2013 Investment Advisor
SCOTIA ASSET MANAGEM Multiple Portfolios MF-AGG 1'600'000 0.48 (300'000) 28.02.2013 Investment Advisor
BHR FUND ADVISORS LP Multiple Portfolios MF-AGG 1'400'000 0.42 (40'000) 31.01.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'378'186 0.41 - 31.03.2013 Investment Advisor
GINN DALE n/a SEDI 1'336'140 0.4 30'000 21.06.2012 n/a
SHARE SICAV Multiple Portfolios MF-AGG 1'306'600 0.39 176'300 31.12.2012 Investment Advisor
FORUM INVESTMENT ADV Multiple Portfolios MF-AGG 1'214'755 0.36 796'340 31.12.2012 Investment Advisor
HUBERT BENJAMIN ARTH n/a SEDI 1'181'200 0.35 (50'000) 03.05.2011 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets BRIAN QUAST underperform 1 M 0 Not Provided 24.04.2013
TD Securities DANIEL EARLE hold 3 M 0 12 month 23.04.2013
Stonecap Securities Inc CHRISTOS DOULIS underperform 1 M 0 12 month 22.04.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 0 12 month 19.04.2013
CIBC World Markets COSMOS CHIU sector underperform 1 M 1 Not Provided 17.04.2013
National Bank Financial PAOLO LOSTRITTO Under Review #N/A N/A M #N/A N/A Not Provided 17.04.2013
Cowen Securities LLC ADAM P GRAF hold 3 M #N/A N/A Not Provided 09.04.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 13.02.2013
Raymond James FORBES GEMMELL Under Review #N/A N/A M #N/A N/A Not Provided 05.02.2013
Holdings By:
San Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Orezone Gold Corporation is a gold exploration and development company. The
Company is focused on the discovery and development of gold deposits in West
Africa. Orezone Gold's current focus is projects in Burkina Faso.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (20.09.2012) 2.47
52-Week Low (01.05.2013) 0.64
Daily Volume
0.77
52-Week High % Change -68.83% Dividend Yield 0.00
52-Week Low % Change 20.31% Beta 1.19
% 52 Week Price Range High/Low 7.10% Equity Float 80.61
Shares Out 30.04.2013 85.7 Short Int 0.35
65.98 1 Yr Total Return -53.89%
Total Debt 0.00 YTD Return -54.71%
Preferred Stock 0.0 Adjusted BETA 1.192
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 16.83 Consensus Rating 4.300
Enterprise Value 48.70
Average Volume 5 Day 374'413
ORE CN EQUITY YTD Change - Average Volume 30 Day 454'700
ORE CN EQUITY YTD % CHANGE - Average Volume 3 Month 305'570
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.2) (2.0) (8.4) (31.6) (28.5) (31.6) (28.5) (16.8) 12.7 - -
- - - - - 0.00x 0.00x - 3.83x - -
(12.8) (1.8) (8.9) (30.3) (4.8) (30.3) (4.8) (15.7) (12.2) - -
- - - - - 0.00x 0.00x - - - -
EBITDA -28.53 Long-Term Rating Date -
EBIT -29.71 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -13.42% Short-Term Rating -
Return on Common Equity -14.02%
Return on Capital - EBITDA/Interest Exp. -1875.44
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -1968.91
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA 0.00
EBITDA Margin -
EBIT Margin - Total Debt/Equity 0.0%
Net Income Margin - Total Debt/Capital 0.0%
Asset Turnover 0.00
Current Ratio 9.69 Net Fixed Asset Turnover -
Quick Ratio 8.98 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 4771.61
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 0.00
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Fiscal Year Ended
Orezone Gold CorpPrice/Volume
Valuation Analysis
348'968.00
Current Price (5/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN VALLEY GOLD LLC n/a SEDI 12'024'600 14.03 3'654'500 13.07.2012 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 11'225'518 13.1 - 29.04.2013 Investment Advisor
PASSPORT CAPITAL LLC n/a Co File 7'183'500 8.38 (1'894'100) 31.12.2011 Hedge Fund Manager
JP MORGAN n/a ULT-AGG 6'459'738 7.54 - 31.12.2012 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 3'425'087 4 31'400 31.03.2013 Hedge Fund Manager
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 3'307'970 3.86 - 30.09.2012 Hedge Fund Manager
BEUTEL GOODMAN & COM Multiple Portfolios MF-AGG 2'117'000 2.47 - 28.02.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'926'187 2.25 (18) 28.09.2012 Investment Advisor
LITTLE RONALD n/a SEDI 1'840'639 2.15 6'178 26.04.2012 n/a
HALVORSON MICHAEL n/a SEDI 1'431'798 1.67 50'000 10.05.2012 n/a
FIRST CANADIAN MUTUA Multiple Portfolios MF-AGG 1'121'600 1.31 - 30.11.2012 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 993'762 1.16 - 28.02.2013 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 987'425 1.15 (12'600) 28.09.2012 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 899'800 1.05 - 31.01.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 890'000 1.04 (20'000) 29.03.2013 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 739'625 0.86 - 28.02.2013 Investment Advisor
MARQUIS PASCAL n/a SEDI 658'519 0.77 27'270 17.02.2012 n/a
FMR LLC n/a ULT-AGG 372'100 0.43 - 31.03.2013 Investment Advisor
SMITH & WILLIAMSON H n/a ULT-AGG 360'319 0.42 - 28.02.2013 Investment Advisor
GCIC LTD/CANADA Multiple Portfolios MF-AGG 302'000 0.35 302'000 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 2 Not Provided 29.04.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 2 Not Provided 29.04.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 3 12 month 29.04.2013
Raymond James BRAD HUMPHREY outperform 5 M 2 12 month 24.04.2013
CIBC World Markets JEFF KILLEEN sector outperform 5 M 3 Not Provided 11.04.2013
Casimir Capital STUART MCDOUGALL speculative buy 4 M 3 12 month 09.04.2013
RBC Capital Markets JONATHAN GUY sector perform 3 M 1 12 month 28.03.2013
Desjardins Securities ADAM MELNYK buy 5 M 4 12 month 28.03.2013
GMP ANDREW MIKITCHOOK buy 5 M 3 12 month 28.03.2013
Holdings By:
Orezone Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Gran Colombia Gold Corp. is a mineral exploration and production company. The
Company is focused on gold and silver exploration and development in
Colombia. Gran Colombia has underground gold and silver mining operations in
Colombia.
Latest Fiscal Year: 12/2012
LTM as of: 12/yy
52-Week High (10.05.2012) 0.44
52-Week Low (15.04.2013) 0.15
Daily Volume
0.17
52-Week High % Change -60.92% Dividend Yield 0.00
52-Week Low % Change 13.33% Beta 1.51
% 52 Week Price Range High/Low 7.02% Equity Float 310.99
Shares Out 30.04.2013 382.0 Short Int 0.08
64.94 1 Yr Total Return -56.41%
Total Debt 188.45 YTD Return -52.78%
Preferred Stock 0.0 Adjusted BETA 1.506
Minority Interest 1.0 Analyst Recs 2
Cash and Equivalents 1.30 Consensus Rating 4.000
Enterprise Value 252.66
Average Volume 5 Day 567'422
GCM CN EQUITY YTD Change - Average Volume 30 Day 1'023'656
GCM CN EQUITY YTD % CHANGE - Average Volume 3 Month 836'458
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.12.2008 31.12.2009 31.12.2010 31.12.2011 31.12.2012 12/yy 12/yy 12/13 Y 12/14 Y 03/13 Q1 06/13 Q2
0.0 0.0 0.0 137.7 168.2 137.7 168.2 174.0 211.0 - -
- - - 1.81x 1.94x 8.74x 5.87x 2.03x 2.44x - -
(0.2) (0.2) (0.2) 1.5 14.8 1.5 14.8 10.0 48.0 - -
- - - 164.64x 22.07x 164.64x 22.09x 25.27x 5.26x - -
(0.3) (0.3) (0.1) (37.0) (36.2) (37.0) (36.2) (22.0) 11.0 - -
- - - - - 0.00x 0.00x - 5.63x - -
EBITDA 14.79 Long-Term Rating Date -
EBIT -2.07 Long-Term Rating -
Operating Margin -1.23% Long-Term Outlook -
Pretax Margin -23.28% Short-Term Rating Date -
Return on Assets -5.19% Short-Term Rating -
Return on Common Equity -8.38%
Return on Capital - EBITDA/Interest Exp. 1.68
Asset Turnover 0.24% (EBITDA-Capex)/Interest Exp. -4.04
Net Debt/EBITDA 12.67
Gross Margin 10.8% Total Debt/EBITDA 12.75
EBITDA Margin 8.8%
EBIT Margin -1.2% Total Debt/Equity 44.3%
Net Income Margin -21.5% Total Debt/Capital 30.7%
Asset Turnover 0.24
Current Ratio 1.39 Net Fixed Asset Turnover 0.30
Quick Ratio 0.28 Accounts receivable turnover-days 40.95
Debt to Assets 24.61% Inventory Days 47.00
Tot Debt to Common Equity 44.33% Accounts Payable Turnover Day 121.85
Accounts Receivable Turnover 8.94 Cash Conversion Cycle -33.90
Inventory Turnover 7.79
Fiscal Year Ended
Gran Colombia Gold CorpPrice/Volume
Valuation Analysis
417'255.00
Current Price (5/dd/yy) Market Data
Net Income
P/E
Market Capitalization
Average Daily Trading Volume
Relative Stock Price Performance
Total Revenue
TEV/Revenue
EBITDA
TEV/EBITDA
Profitability S&P Issuer Ratings
Credit Ratios
Margin Analysis
Reference
Structure
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
10.05.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
US GLOBAL INVESTORS n/a PROXY 47'135'169 12.34 - 17.04.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 30'175'000 7.9 - 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 24'420'817 6.39 (110'040) 29.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 12'500'000 3.27 (826'700) 31.01.2013 Investment Advisor
ICE ROSE HOLDINGS n/a SEDI 8'150'000 2.13 99'000 25.09.2012 Holding Company
IACONO SERAFINO n/a SEDI 4'700'416 1.23 165'000 27.09.2012 n/a
LA CAMPA MIGUEL DE n/a SEDI 3'803'773 1 133'000 20.02.2013 n/a
FMR LLC n/a ULT-AGG 1'765'000 0.46 - 31.03.2013 Investment Advisor
TARIBO HOLDINGS n/a SEDI 1'284'500 0.34 23'500 28.01.2013 Holding Company
LOPEZ AUGUSTO n/a SEDI 1'090'250 0.29 586'500 12.09.2012 n/a
TOSCA ASSETS CORP n/a SEDI 1'000'000 0.26 - 30.08.2012 Other
ORINOQUIA BELT CA n/a SEDI 665'621 0.17 130'000 23.08.2012 Other
DAVIES MICHAEL MONIE n/a SEDI 591'873 0.15 20'000 21.08.2012 n/a
HOLLENCREST SECURITI HOLLENCREST SECURITI 13F 466'500 0.12 - 31.12.2012 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 439'086 0.11 - 31.12.2012 Investment Advisor
TORINO CONSULTANTS n/a SEDI 400'000 0.1 - 15.11.2010 Other
MARTINEZ TO HERNAN J n/a Co File 360'000 0.09 - 26.03.2013 n/a
VOLK PETER n/a SEDI 334'500 0.09 - 30.08.2012 n/a
PACHECO MARIO n/a Co File 325'000 0.09 - 26.03.2013 n/a
EAST DONALD n/a SEDI 258'000 0.07 60'000 06.02.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
GMP GEORGE V ALBINO speculative buy 4 M 1 12 month 16.04.2013
Interbolsa SA GABRIEL BAYONA speculative buy 4 M 2 Not Provided 23.10.2012
Holdings By:
Gran Colombia Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |