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Fundamental Equity Analysis - QMS Gold Miners FlexIndex - The QMS Advisors' Gold Miners Flexible Index tracks companies involved in the Gold Mining Industry
Citation preview
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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 14827808 2000.805 1118 1118 204 220 220 102.41 110.19 110.19 15.69 15.69 14.58 14.58 18.73
Euro Stoxx 50 Pr EUR 2548017 5339.84 4610 4610 738 771 771 205.58 300.90 300.90 21.67 17.15 14.81 14.81 20.37
NIKKEI 225 JPY 2653801 188.4611 192 192 18 22 22 5.43 7.94 7.94 0.26 0.24 0.18 0.18 0.11
FTSE 100 INDEX GBP 2606011 11425.82 10175 10175 1424 1682 1682 592.58 812.01 812.01 24.49 21.53 17.88 17.88 21.45
SWISS MARKET INDEX CHF 1029308 10842.85 4132 4132 868 835 835 420.45 562.22 562.22 20.54 17.05 15.36 15.36 22.32
S&P/TSX COMPOSITE INDEX CAD 1561598 16437.06 8368 8368 1784 1983 1983 737.92 823.55 823.55 14.85 14.85 13.31 13.31 23.26
S&P/ASX 200 INDEX AUD 1209852 5805.067 2584 2584 555 632 632 227.09 302.19 302.19 17.45 14.28 13.11 13.11 20.39
HANG SENG INDEX HKD 1603954 3014.557 1669 1669 356 397 397 278.82 270.43 270.43 1.24 1.41 1.28 1.28 2.92
MSCI EM USD 7107686 1301.645 969 969 188 180 180 82.42 90.56 90.56 11.41 11.60 10.38 10.38 19.23
GOLDCORP INC USD 20080 13961 812 1 0 0 1 20.55 5435 5101 4677 5879 2798 2532 555 555 1.99 1.70 1.27 1.83 14.51 14.51 19.44 13.51 1.36 13.48 19.78 21.03 49.64 BBB+ 01.06.2009 Baa2 13.03.2013
BARRICK GOLD CORP USD 15758 31012 1001 14 0 3 2 30.91 14547 14340 13188 13960 7358 7071 1475 1475 3.74 3.30 2.90 2.93 4.77 4.77 5.43 5.38 2.18 13.61 -11.64 24.49 49.31 BBB 26.04.2013 Baa2 24.04.2013
NEWMONT MINING CORP USD 14943 21350 497 6 0 3 2 23.11 9868 9362 8841 10057 4169 3731 711 711 3.71 3.34 2.41 2.93 8.97 8.97 12.42 10.22 -4.73 4.99 -19.24 19.37 39.85 BBB+ 11.08.2008 Baa1 26.07.2010
RANDGOLD RESOURCES LTD-ADR USD 5905 1871 92 0 0 0 0 5.81 1318 1331 1319 1740 699 689 - - 4.65 4.48 4.06 6.36 14.29 14.29 15.75 10.07 16.92 27.97 20.16 53.34 51.75 - - - -
YAMANA GOLD INC USD 7155 13005 1 0 0 0 7.72 2337 2312 2353 2883 1269 1164 241 241 - - 0.69 0.98 - - 13.70 9.73 7.52 14.54 0.53 26.81 50.35 - - - -
GOLD FIELDS LTD-SPONS ADR USD 3884 6925 16 0 2 5 28916 38146 28744 31456 14243 18261 12281 12281 - - 5.29 7.53 - - 9.79 6.88 14.46 8.58 5.29 13.85 47.87 BB+ 15.11.2012 - -
SILVER WHEATON CORP USD 6975 9886 0 0 0 1 7.99 850 856 854 969 701 700 148 148 - - 1.39 1.54 - - 14.18 12.74 16.38 43.77 13.36 43.74 81.79 - - - -
ANGLOGOLD ASHANTI-SPON ADR USD 5511 3469 30 0 0 8 52160 51968 61184 70391 19105 17635 20567 20567 - - 14.10 26.22 - - 10.01 5.38 -4.14 11.91 -17.82 86.63 33.93 BBB- 10.12.2012 - -
CIA DE MINAS BUENAVENTUR-ADR USD 4068 3412 254 0 0 0 0 4.30 1564 1492 1601 1718 569 518 199 199 2.69 2.27 2.11 1.97 6.49 6.47 7.00 7.48 0.44 14.04 -30.59 7.40 34.71 - - - -
NEW GOLD INC USD 3062 6485 1 0 0 1 3.24 791 824 921 985 390 388 95 95 - - 0.37 0.51 - - 17.21 12.61 13.70 39.01 13.39 63.80 47.02 BB- 27.03.2012 B2 27.03.2012
AGNICO EAGLE MINES LTD USD 4761 3530 1 0 0 0 5.28 1918 1865 1673 1988 787 735 111 111 - - 0.95 1.55 - - 28.90 17.83 5.26 38.09 4.59 31.64 39.41 NR 12.03.2003 WR 05.03.2002
ELDORADO GOLD CORP USD 4419 8458 1 0 0 1 4.63 1148 1214 1227 1338 584 631 114 114 - - 0.38 0.45 - - 16.18 13.76 3.97 58.56 -9.24 53.95 51.94 BB 13.11.2012 Ba3 12.11.2012
KINROSS GOLD CORP USD 5822 20939 1140 3 0 0 2 6.63 4311 4333 3903 3963 1962 1981 338 338 0.77 0.74 0.39 0.47 6.89 6.89 13.21 10.83 12.20 27.96 1.87 40.67 45.72 BBB- 15.08.2011 Baa3 15.08.2011
ROYAL GOLD INC USD 2709 2188 59 0 0 0 0 2.35 263 292 298 358 233 260 58 58 1.63 1.45 1.51 1.97 28.96 28.96 27.96 21.41 21.52 33.98 25.17 44.69 88.90 - - - -
HARMONY GOLD MNG-SPON ADR USD 1658 4247 2 0 0 2 15169 16353 17453 21284 4222 3140 4857 4857 - - 3.88 4.80 - - 9.70 7.84 30.81 9.67 79.35 16.71 19.20 - - - -
IAMGOLD CORP USD 1631 13844 1 0 0 1 1.71 1670 1571 1389 1590 710 642 127 127 - - 0.46 0.60 - - 9.37 7.25 -0.19 12.44 -9.54 30.21 40.84 BB- 10.09.2012 - -
PAN AMERICAN SILVER CORP USD 1762 4614 0 0 0 1 1.32 929 943 897 978 362 345 52 52 - - 0.61 0.81 - - 18.96 14.37 8.57 24.85 -18.81 25.23 36.62 - - - -
FIRST MAJESTIC SILVER CORP USD 1238 2422 0 0 0 0 1.16 247 256 320 474 135 132 - - - - 0.74 1.21 - - 14.37 8.78 0.68 59.29 -13.49 101.01 51.60 - - - -
COEUR MINING INC USD 1350 3888 90 0 0 0 0 1.37 895 863 849 998 378 343 78 78 0.59 0.68 0.43 1.11 19.56 19.56 31.07 11.99 -12.31 37.42 -28.81 43.35 39.75 B+ 25.06.2012 B3 24.01.2013
AURICO GOLD INC USD 1079 5960 0 0 0 1 0.98 164 285 374 52 53 20 20 - - 0.22 0.36 - - 19.77 12.31 94.95 15.72 2151.89 - - - - - -
ALLIED NEVADA GOLD CORP USD 673 11451 90 1 0 0 0 1.01 215 225 348 588 95 98 25 25 0.54 0.54 0.67 1.34 11.91 11.91 9.72 4.84 41.13 - 95.75 - 43.59 B 07.06.2012 B3 16.05.2012
HECLA MINING CO USD 850 11906 285 0 0 0 0 0.71 321 306 480 665 93 74 45 45 0.07 0.12 0.10 0.28 24.83 24.83 29.50 10.53 -32.76 22.69 -63.53 10.36 24.02 B 04.04.2013 B2 02.04.2013
NEVSUN RESOURCES LTD USD 587 1146 0 0 0 0 0.40 566 488 291 668 426 347 21 21 - - 0.25 0.84 - - 11.66 3.53 3.34 - -0.64 - 71.21 - - - -
AURIZON MINES LTD USD 635 5181 0 0 0 0 0.48 224 210 92 78 - - - - 0.06 0.19 - - 67.51 21.32 -14.02 5.97 -26.18 14.15 37.08 - - - -
SILVER STANDARD RESOURCES USD 512 1545 0 0 0 0 0.23 241 252 188 204 55 65 -6 -6 - - -0.27 -0.16 - - 63.09 - 38.56 - 25.82 - - - -
SEABRIDGE GOLD INC USD 430 767 0 0 0 0 0.41 0 0 -16 - -15 -15 - - -0.22 -0.46 - - - - 20.14 - - - - - -
TANZANIAN ROYALTY EXPLORATIO USD 272 701 0 0 0 0 0.27 0 0 -5 -5 - - - - - - - - -16.99 - - - - - -
GOLDEN STAR RESOURCES LTD USD 109 28562 259 0 0 0 0 0.16 551 552 446 459 125 117 15 15 -0.05 -0.16 -0.10 0.07 - - 6.00 16.89 21.87 35.80 83.24 21.18 - - - -
VISTA GOLD CORP USD 79 5706 82 0 0 0 0 0.02 0 0 -36 -36 - - -0.54 -0.51 -0.27 -0.25 - - - - -26.58 - - - - - -
GREAT BASIN GOLD LTD USD 2 3503 0 0 0 0 0.32 170 145 18 -26 - - - - - - 70.83 - - - -18.00 - - - -
ARGONAUT GOLD INC CAD 806 1336 149 0 0 0 0 0.62 178 196 194 253 102 112 16 16 0.65 0.60 0.36 0.50 8.16 8.16 13.67 9.83 75.04 - 87.25 - 54.21 - - - -
TOREX GOLD RESOURCES INC CAD 767 5955 604 0 0 0 0 0.40 0 0 0 0 -57 -61 - - -0.13 -0.14 -0.08 -0.08 - - - - -73.37 - - - - - -
LIONGOLD CORP LTD SGD 804 7738 922 0 0 0 0 0.77 95 90 -12 1 - - -0.02 -0.03 - - 17.94 6.97 -155.65 - 1.17 - - - -
CHINA GOLD INTERNATIONAL RES CAD 1055 641 396 0 0 0 0 1.13 316 315 320 521 132 141 121 121 0.17 0.17 0.14 0.15 13.82 13.82 16.86 16.32 6.43 - -1.24 - 42.61 - - - -
PERSEUS MINING LTD CAD 213 2455 0 0 0 0 0.19 138 284 340 53 121 - - - - 0.09 0.13 - - 5.08 3.66 - - - - - - - - -
SANDSTORM GOLD LTD CAD 539 970 86 0 0 0 0 0.46 53 55 62 85 35 34 - - 0.24 0.16 0.16 0.34 32.79 32.79 32.98 15.61 82.39 - 87.09 - 58.01 - - - -
OCEANAGOLD CORP CAD 363 1144 294 0 0 0 0 0.56 366 373 500 555 137 161 45 45 0.08 0.10 0.17 0.22 10.68 10.68 6.42 5.02 -2.44 13.24 -11.45 63.77 41.00 - - - -
MEDUSA MINING LTD AUD 273 2634 189 0 0 0 0 0.24 74 85 100 209 53 59 - - 0.24 0.26 0.35 0.71 4.63 - 3.45 1.72 -41.88 86.44 -47.76 - 63.64 - - - -
DUNDEE PRECIOUS METALS INC CAD 515 867 126 0 0 0 0 0.51 366 355 393 439 - - 17 17 0.37 0.32 0.51 0.76 12.00 12.00 7.67 5.09 12.97 41.31 - - - - - - -
RIO ALTO MINING LTD CAD 326 942 176 0 0 0 0 0.28 301 267 313 299 165 126 - - 0.54 0.39 0.41 0.42 4.51 4.51 4.28 4.20 - - - - 44.84 - - - -
AURIZON MINES LTD USD 635 5181 0 0 0 0 0.48 224 210 92 78 - - - - 0.06 0.19 - - 67.51 21.32 -14.02 5.97 -26.18 14.15 37.08 - - - -
ENDEAVOUR SILVER CORP USD 342 2212 0 0 0 0 0.34 208 229 238 281 90 88 8 8 - - 0.27 0.40 - - 12.56 8.64 62.57 53.81 38.56 - 38.27 - - - -
CONTINENTAL GOLD LTD CAD 397 858 108 0 0 0 0 0.22 0 0 2 1 -11 - - - -0.07 -0.10 -0.08 -0.09 - - - - - - - - - - -
RUBICON MINERALS CORP CAD 370 1239 288 0 0 0 0 0.23 0 0 64 -11 -11 - - -0.04 -0.04 -0.03 0.03 - - 41.39 - - 44.25 - - - - - -
SILVERCORP METALS INC USD 482 1834 0 0 0 0 0.44 182 182 254 354 90 91 - - - - 0.30 0.50 - - 9.40 5.70 -23.68 11.35 -41.73 3.36 50.02 - - - -
EVOLUTION MINING LTD AUD 373 2690 707 0 0 0 0 0.41 431 584 558 627 175 196 94 94 0.06 0.17 0.08 0.09 2.87 - 6.35 5.33 261.59 - 496.24 - 30.83 - - - -
CHINA PRECIOUS METAL RESOURC HKD 724 2756 4351 0 0 0 0 1.01 210 210 233 303 144 144 144 144 - 0.02 0.02 0.02 1.38 - 1.28 1.06 5.84 26.55 4.61 - 8.88 - - - -
SEABRIDGE GOLD INC USD 430 767 0 0 0 0 0.41 0 0 -16 - -15 -15 - - -0.22 -0.46 - - - - 20.14 - - - - - -
BEADELL RESOURCES LTD AUD 369 6220 742 0 0 0 0 0.49 1 1 280 304 -13 - 135 135 -0.04 -0.05 0.12 0.15 - - 3.57 2.87 - - 55.37 - - - - - -
RESOLUTE MINING LTD AUD 347 4561 636 0 0 0 0 0.29 529 567 605 529 233 239 - - 0.15 0.23 0.21 0.11 2.13 - 2.34 4.47 27.13 26.81 120.30 96.07 38.62 - - - -
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 14827808 2000.805 1118 1118 204 220 220 102.41 110.19 110.19 15.69 15.69 14.58 14.58 18.73
Euro Stoxx 50 Pr EUR 2548017 5339.84 4610 4610 738 771 771 205.58 300.90 300.90 21.67 17.15 14.81 14.81 20.37
NIKKEI 225 JPY 2653801 188.4611 192 192 18 22 22 5.43 7.94 7.94 0.26 0.24 0.18 0.18 0.11
FTSE 100 INDEX GBP 2606011 11425.82 10175 10175 1424 1682 1682 592.58 812.01 812.01 24.49 21.53 17.88 17.88 21.45
SWISS MARKET INDEX CHF 1029308 10842.85 4132 4132 868 835 835 420.45 562.22 562.22 20.54 17.05 15.36 15.36 22.32
S&P/TSX COMPOSITE INDEX CAD 1561598 16437.06 8368 8368 1784 1983 1983 737.92 823.55 823.55 14.85 14.85 13.31 13.31 23.26
S&P/ASX 200 INDEX AUD 1209852 5805.067 2584 2584 555 632 632 227.09 302.19 302.19 17.45 14.28 13.11 13.11 20.39
HANG SENG INDEX HKD 1603954 3014.557 1669 1669 356 397 397 278.82 270.43 270.43 1.24 1.41 1.28 1.28 2.92
MSCI EM USD 7107686 1301.645 969 969 188 180 180 82.42 90.56 90.56 11.41 11.60 10.38 10.38 19.23
ENDEAVOUR MINING CORP CAD 220 5809 391 0 0 0 0 0.37 329 366 456 543 129 130 - - -0.04 0.10 0.13 0.08 5.26 5.26 3.86 6.26 130.81 - 204.08 - 37.42 - - - -
FORTUNA SILVER MINES INC CAD 417 1074 125 0 0 0 0 0.33 153 153 163 201 67 62 9 9 0.26 0.22 0.22 0.30 13.75 13.75 13.81 10.07 44.08 45.08 42.57 64.01 38.42 - - - -
MCEWEN MINING INC USD 499 27070 296 0 0 0 0 0.45 6 39 22 20 -92 -67 - - -0.19 -0.17 -0.05 0.04 - - 48.00 - - -54.81 - -171.96 - - - -
MAG SILVER CORP CAD 352 183 60 0 0 0 0 0.32 0 0 0 0 -13 -13 -3 -3 -0.21 -0.23 -0.17 -0.19 - - - - -38.94 - - - - - -
PRIMERO MINING CORP CAD 516 618 97 0 0 0 0 0.39 174 176 191 238 74 68 29 29 0.51 0.48 0.39 0.52 8.33 8.33 10.38 7.76 16.03 - 6.02 - 36.89 - - - -
KINGSGATE CONSOLIDATED LTD AUD 186 2249 151 0 0 0 0 0.31 328 341 311 332 151 - - - 0.48 0.32 0.18 0.15 3.54 - 6.12 7.65 98.45 77.23 134.54 - - - - - -
TIMMINS GOLD CORP CAD 318 698 144 0 0 0 0 0.31 148 158 187 204 65 72 17 17 0.24 0.30 0.31 0.31 6.89 6.89 6.66 6.83 83.78 - 57.10 - 43.49 - - - -
ST BARBARA LTD AUD 208 3497 325 0 0 0 0 0.35 496 478 480 572 205 184 - - 0.38 0.25 0.07 0.12 1.56 - 5.61 3.26 46.32 25.52 96.25 77.54 35.34 B 15.03.2013 - -
PREMIER GOLD MINES LTD CAD 260 2188 149 0 0 0 0 0.20 0 1 -12 -13 - - -0.14 -0.10 0.01 -0.07 - - 133.80 - - -5.07 - -1376.44 - - - -
NORTHERN STAR RESOURCES LTD AUD 247 3841 402 0 0 0 0 0.21 91 105 133 147 44 53 69 69 0.05 0.07 0.07 0.08 7.26 - 7.76 6.40 -12.29 - 4.80 - 46.49 - - - -
TANZANIAN ROYALTY EXPLORATIO USD 272 701 0 0 0 0 0.27 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 - 7.03 - 11.19 - - - -
GOLDEN STAR RESOURCES LTD USD 109 28562 259 0 0 0 0 0.16 551 552 446 459 125 117 15 15 -0.05 -0.16 -0.10 0.07 - - 6.00 16.89 21.87 35.80 83.24 21.18 - - - -
ROMARCO MINERALS INC CAD 262 1412 585 0 0 0 0 0.20 0 0 -11 -11 -8 -8 -0.02 -0.02 -0.02 -0.01 - - - - 21.42 - - - - - -
BANRO CORPORATION CAD 196 1904 202 0 0 0 0 0.34 41 72 133 326 6 21 - - -0.02 0.03 0.04 0.34 24.70 24.70 16.10 2.06 - - - - 28.29 - - - -
COLOSSUS MINERALS INC CAD 145 1722 106 0 0 0 0 0.17 0 0 10 159 -31 -27 -6 -6 -0.27 -0.16 -0.12 0.27 - - 3.92 - - -11.63 - - - - - -
RAINY RIVER RESOURCES LTD CAD 338 7315 100 0 0 0 0 0.24 0 0 1 1 -61 -61 -14 -14 -0.69 -0.59 -0.19 -0.13 - - - - -286.68 - - - - - -
SULLIDEN GOLD CORP LTD CAD 203 700 243 0 0 0 0 0.18 0 0 -11 -4 - - -0.06 -0.04 -0.04 -0.04 - - - - -34.70 - - - - - -
ASANKO GOLD INC CAD 182 598 76 0 0 0 0 0 0 0 -34 -35 - - -0.47 -0.25 -0.23 -0.16 - - - - 6.98 - - - - - -
BEAR CREEK MINING CORP CAD 149 218 92 0 0 0 0 0.08 0 0 -30 -26 - - -0.32 -0.28 -0.20 -0.06 - - - - -5.61 - - - - - -
PARAMOUNT GOLD AND SILVER USD 185 1707 0 0 0 0 0.17 0 0 -18 -17 -9 -9 - - -0.06 -0.06 - - -59.56 - -54.62 - -27663.33 - - - -
KIRKLAND LAKE GOLD INC CAD 295 997 70 0 0 0 0 0.35 152 132 147 224 53 23 22 22 0.54 -0.01 0.02 0.38 - - 221.11 10.53 51.98 59.45 105.42 - 16.70 - - - -
GUYANA GOLDFIELDS INC CAD 162 531 95 0 0 0 0 0.04 0 0 393 -8 -7 - - -0.09 -0.06 -0.07 -0.06 - - - - 18.65 - - - - - -
HIGHLAND GOLD MINING LTD GBp 265 10 325 0 0 0 0 0.33 535 535 582 701 247 247 239 239 0.58 0.58 0.41 0.49 3.28 3.27 4.64 3.81 26.18 37.68 5.46 62.71 70.14 - - - -
INDOPHIL RESOURCES NL AUD 292 853 1203 0 0 0 0 0.08 0 0 -16 -16 - - 0.00 0.00 51.60 - - - -113.62 - - - - - -
LYDIAN INTERNATIONAL LTD CAD 148 418 127 0 0 0 0 0.06 0 0 - - - - -0.05 -0.06 -0.03 -0.02 - - - - - - - - - - -
SABINA GOLD & SILVER CORP CAD 175 621 174 0 0 0 0 0.08 0 0 -11 -11 - - -0.08 -0.08 -0.03 -0.03 - - - - -17.79 - - - - - -
LAKE SHORE GOLD CORP CAD 125 3041 416 0 0 0 0 0.23 126 144 185 233 36 44 - - -0.21 -0.21 -0.02 0.03 - - 11.09 95.83 - 396.33 - 29.00 - - - -
BRIGUS GOLD CORP USD 118 1129 0 0 0 0 0.19 118 136 148 160 48 63 - - - - 0.12 0.12 - - 4.18 4.36 63.78 - 239.92 60.49 46.39 - - - -
GREAT PANTHER SILVER LTD USD 104 546 0 0 0 0 0.08 61 60 57 68 16 12 - - - - 0.02 0.04 - - 52.96 21.47 5.74 21.76 -28.90 - 19.63 - - - -
INTREPID MINES LTD AUD 143 2307 555 0 0 0 0 0.12 0 0 -44 -44 - - -0.10 -0.12 -0.01 -0.01 - - - - -19.91 - - - - - -
VISTA GOLD CORP USD 79 5706 82 0 0 0 0 0.02 0 0 -36 -36 - - -0.54 -0.51 -0.27 -0.25 - - - - -26.58 - - - - - -
ALEXCO RESOURCE CORP USD 70 688 0 0 0 0 0.06 85 77 73 85 25 20 - - - - -0.21 -0.17 - - 87.81 276.59 160.76 - 26.11 - - - -
ATAC RESOURCES LTD CAD 89 320 104 0 0 0 0 0.06 0 0 - - -1 -1 -0.08 -0.02 -0.03 -0.04 - - - - - - - - - - -
SCORPIO MINING CORP CAD 64 642 198 0 0 0 0 0.03 44 40 46 74 13 12 - - 0.04 0.03 0.03 0.03 10.77 10.77 10.42 9.79 -23.75 - -49.20 - 28.55 - - - -
MIDWAY GOLD CORP USD 121 1954 128 0 0 0 0 0.10 0 0 -14 -16 - - -0.12 -0.12 -0.11 -0.13 - - - - 21.14 - - - - - -
PATAGONIA GOLD PLC GBp 117 15 813 0 0 0 0 0.12 0 0 -24 -24 - - -0.03 -0.03 - - - - 79.12 - - - - - -
GRYPHON MINERALS LTD AUD 50 5118 348 0 0 0 0 0.00 0 0 3 2 -7 -7 - - - -0.01 -0.01 -0.01 - - - - 45.27 - - - - - -
DRDGOLD LTD-SPONSORED ADR USD 209 85 0 0 0 0 1764 1959 2066 2096 380 400 460 460 - - 6.82 7.43 - - 7.86 7.21 27.89 7.86 62.47 13.51 20.40 - - - -
RED 5 LTD AUD 0 135 0 0 0 0 4 15 37 113 -3 -4 6 6 -0.01 -0.06 -0.06 0.21 - - - - 39.77 - -27.08 - - - -
LINGBAO GOLD CO LTD-H HKD 134 818 770 1 0 0 0 0.62 824 824 892 850 95 95 97 97 0.03 0.03 0.02 0.02 0.65 0.62 0.78 0.85 1.52 2.37 -1.33 0.92 1.49 - - - -
INTL TOWER HILL MINES LTD USD 64 454 0 0 0 0 0.04 0 0 -56 -57 - - - - -0.09 -0.04 - - - - -463.04 - - - - - -
SARACEN MINERAL HOLDINGS LTD AUD 66 4332 595 0 0 0 0 0.07 169 171 192 184 58 48 60 60 0.04 -0.02 0.05 0.06 - - 1.90 1.75 16.55 - 5.59 - 25.48 - - - -
EXETER RESOURCE CORP USD 63 226 88 0 0 0 0 0.01 0 0 -26 -23 - - -0.29 -0.26 -0.13 -0.11 - - - - 17.44 - - - - - -
RICHMONT MINES INC USD 60 207 40 0 0 0 0 0.02 102 100 105 134 8 3 - - -0.08 -0.21 0.05 0.36 - - 35.54 4.44 -14.20 11.05 -79.79 8.26 2.89 - - - -
RAMELIUS RESOURCES LTD AUD 42 3181 336 0 0 0 0 0.01 77 106 117 145 12 -10 22 22 0.01 -0.06 0.00 0.03 - - 24.76 3.75 -39.49 160.51 -80.92 7.99 -8.33 - - - -
GOLDEN MINERALS CO USD 59 3145 43 0 0 0 0 0.02 26 26 28 39 -35 -31 -6 -6 -1.44 -1.37 -0.45 -0.34 - - 1320.81 - 45.58 - -120.89 - - - -
SAN GOLD CORP CAD 33 4399 335 0 0 0 0 0.04 135 124 125 160 34 24 - - -0.04 -0.06 -0.07 -0.03 - - 23.33 132.20 178.55 - 17.95 - - - -
OREZONE GOLD CORP CAD 34 306 86 0 0 0 0 0.02 0 0 -27 -29 - - -0.06 -0.10 -0.13 -0.06 - - - - 9.26 - - - - - -
GRAN COLOMBIA GOLD CORP CAD 27 107 15 0 0 0 0 0.19 160 155 161 191 14 10 7 7 -1.90 -1.43 -1.49 0.29 - - 5.60 21.07 - 833.21 - 6.36 - - - -
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 2.25 2.25 2.06 1.89 2.25 1.44 1.44 1.37 1.32 1.44 10.14 10.14 9.46 9.81 10.14 9.09 9.09 8.38 7.83 9.09 14.58 14.58 13.09 11.89 14.58 2.17 2.17 2.34 2.52 2.17 1775.4 10.5%
Euro Stoxx 50 Pr 1.14 1.14 1.08 1.02 1.14 0.74 0.74 0.72 0.70 0.74 5.65 5.65 5.18 4.72 5.65 6.93 6.93 6.55 6.19 6.93 11.34 11.34 10.12 9.11 11.35 4.40 4.40 4.68 5.04 4.40 2974.5 13.7%
NIKKEI 225 1.51 1.51 1.41 1.31 1.51 0.72 0.72 0.70 0.68 0.72 8.87 8.87 8.20 7.47 8.87 8.66 8.66 8.02 7.54 8.66 17.52 17.52 15.59 14.02 17.52 1.66 1.66 1.81 1.96 1.66 14876.5 7.4%
FTSE 100 INDEX 1.66 1.66 1.55 1.45 1.66 0.94 0.94 0.91 0.93 0.94 8.24 8.25 7.48 6.85 8.24 6.79 6.79 6.40 6.01 6.79 11.75 11.75 10.70 9.86 11.75 3.98 3.98 4.28 4.66 3.98 6996.7 11.6%
SWISS MARKET INDEX 2.32 2.32 2.15 2.00 2.32 1.98 1.98 1.88 1.80 1.98 11.84 11.84 10.80 9.66 11.84 12.99 12.99 11.96 11.20 12.99 14.52 14.52 13.07 11.91 14.52 3.34 3.34 3.73 4.27 3.34 8621.0 11.8%
S&P/TSX COMPOSITE INDEX 1.61 1.61 1.50 1.40 1.61 1.38 1.38 1.42 1.47 1.38 8.15 8.15 7.35 6.12 8.15 8.29 8.29 7.33 6.76 8.29 14.00 14.00 12.35 11.27 14.00 3.32 3.32 3.47 3.64 3.32 14185.0 16.9%
S&P/ASX 200 INDEX 1.78 1.78 1.69 1.59 1.78 1.67 1.67 1.58 1.50 1.67 10.55 10.55 9.37 8.52 10.55 9.18 9.18 8.18 7.48 9.18 14.29 14.29 12.81 11.68 14.29 4.80 4.80 5.11 5.48 4.80 5209.2 10.6%
HANG SENG INDEX 1.24 1.24 1.14 1.05 1.24 1.61 1.61 1.48 1.37 1.61 7.39 7.39 7.04 6.63 7.39 7.59 7.59 6.93 6.31 7.59 9.92 9.92 9.14 8.35 9.92 3.88 3.88 4.18 4.59 3.88 24826.0 19.3%
MSCI EM 1.36 1.36 1.25 1.14 1.36 0.97 0.97 0.91 0.85 0.97 6.72 6.72 6.16 5.71 6.72 7.24 7.24 6.56 6.12 7.24 10.38 10.38 9.35 8.58 10.38 2.97 2.97 3.29 3.61 2.97 1132.2 20.4%
GOLDCORP INC 0.90 0.86 0.84 0.81 0.70 3.64 4.29 3.42 3.09 2.56 8.69 10.87 8.23 6.69 5.17 6.96 9.40 6.60 5.63 4.44 12.48 19.44 13.51 11.98 8.13 2.17 2.39 2.41 2.43 2.43 35.58 43.9%
BARRICK GOLD CORP 0.61 0.68 0.66 0.61 0.51 1.11 1.19 1.13 1.15 1.02 2.86 3.51 3.38 3.21 2.86 4.14 4.86 4.65 4.54 3.75 4.14 5.43 5.38 5.56 4.27 4.78 5.10 5.13 5.21 6.99 25.53 62.2%
NEWMONT MINING CORP 1.09 1.04 1.00 0.97 0.95 1.49 1.69 1.49 1.51 1.59 4.96 5.97 5.20 5.90 8.23 5.35 7.64 6.41 6.57 6.93 8.42 12.42 10.22 11.57 13.90 4.79 4.18 3.99 3.33 4.01 38.30 27.9%
RANDGOLD RESOURCES LTD-ADR 2.26 1.97 1.69 1.47 4.36 4.48 3.39 3.44 3.77 10.08 9.79 6.57 5.92 9.74 8.13 8.77 6.25 5.74 6.75 13.56 15.75 10.07 9.36 10.22 0.76 0.74 0.89 1.00 108.64 69.8%
YAMANA GOLD INC 0.91 0.89 0.84 0.80 3.01 3.04 2.48 2.50 2.09 6.68 7.17 5.75 5.29 4.66 5.88 6.56 4.95 4.95 3.54 10.42 13.70 9.73 9.19 7.99 2.51 2.62 2.60 2.48 2.73 16.06 68.9%
GOLD FIELDS LTD-SPONS ADR 0.64 0.74 0.68 0.63 0.78 1.33 1.22 1.21 2.36 3.60 3.65 3.36 4.57 9.79 6.88 6.05 6.87 3.27 4.06 4.75 7.70 46.7%
SILVER WHEATON CORP 2.23 2.06 1.86 1.67 1.28 8.52 8.17 7.20 6.61 4.96 10.31 10.45 9.41 8.42 6.97 11.71 12.23 10.51 9.68 7.00 11.89 14.18 12.74 11.83 9.39 1.90 2.29 2.11 2.33 2.85 34.70 76.4%
ANGLOGOLD ASHANTI-SPON ADR 1.02 0.87 0.78 0.71 0.90 0.89 0.77 0.85 3.21 2.99 2.54 3.19 5.24 10.01 5.38 7.25 2.68 1.37 2.00 1.46 25.64 79.3%
CIA DE MINAS BUENAVENTUR-ADR 1.04 0.92 0.85 0.78 2.65 2.54 2.37 2.52 9.11 12.62 10.01 5.01 6.21 5.72 6.19 5.20 7.00 7.48 8.27 4.15 3.03 3.86 3.47 24.48 65.8%
NEW GOLD INC 1.18 1.08 1.02 0.96 0.85 3.99 3.33 3.11 3.06 3.05 10.37 8.54 6.79 6.38 6.42 8.19 7.05 5.86 5.23 4.93 15.81 17.21 12.61 12.05 13.66 0.00 0.00 10.81 68.4%
AGNICO EAGLE MINES LTD 1.37 1.38 1.37 1.34 2.49 2.85 2.39 2.39 2.19 6.74 9.43 7.40 6.69 5.86 6.38 9.02 6.65 6.37 4.12 13.06 28.90 17.83 16.88 12.95 2.79 3.08 3.05 2.99 2.90 39.83 44.6%
ELDORADO GOLD CORP 0.73 0.73 0.72 0.70 3.82 3.60 3.30 2.37 1.57 9.49 9.29 8.26 5.62 3.30 7.63 7.72 7.02 4.63 2.68 13.46 16.18 13.76 8.82 4.66 2.35 2.02 1.93 2.39 11.29 82.7%
KINROSS GOLD CORP 0.44 0.60 0.59 0.58 0.57 1.35 1.49 1.47 1.56 1.40 4.06 4.45 4.25 4.66 4.25 3.34 4.40 4.03 4.28 3.58 6.91 13.21 10.83 12.32 10.04 3.14 3.14 3.14 3.14 3.14 7.58 48.7%
ROYAL GOLD INC 1.36 1.13 1.10 1.04 9.89 9.08 7.57 5.73 13.56 14.29 11.79 9.01 9.70 8.83 7.46 5.72 24.03 27.96 21.41 14.25 1.30 1.78 1.97 2.26 73.11 73.7%
HARMONY GOLD MNG-SPON ADR 0.43 0.42 0.41 0.40 0.97 0.94 0.77 0.68 3.90 3.63 3.32 3.43 5.50 9.70 7.84 11.94 3.18 1.48 2.10 1.68 6.60 73.2%
IAMGOLD CORP 0.43 0.43 0.42 0.42 0.99 1.17 1.03 1.01 0.94 3.04 4.02 3.42 3.41 3.14 2.32 3.09 2.53 2.66 1.99 5.03 9.37 7.25 8.05 7.02 5.87 5.80 5.38 5.20 5.77 7.59 75.2%
PAN AMERICAN SILVER CORP 0.62 0.66 0.66 0.64 0.51 1.84 1.96 1.80 1.84 1.52 6.52 7.92 7.38 7.91 4.95 3.34 4.79 3.96 4.41 2.21 9.27 18.96 14.37 18.96 9.51 1.52 4.28 4.27 4.28 4.30 15.21 30.6%
FIRST MAJESTIC SILVER CORP 2.00 4.70 3.87 2.61 2.33 2.15 8.57 8.53 6.05 5.20 4.79 6.90 7.16 4.69 3.97 3.47 11.03 14.37 8.78 7.30 6.79 17.67 66.8%
COEUR MINING INC 0.56 0.57 0.55 0.52 0.46 1.49 1.59 1.35 1.48 1.60 4.49 5.55 4.40 4.60 5.55 3.68 4.31 3.20 3.52 4.21 12.20 31.07 11.99 12.48 18.22 18.56 39.6%
AURICO GOLD INC 0.57 0.55 0.54 0.53 0.46 3.45 3.79 2.88 2.32 2.04 10.79 10.05 6.13 5.38 4.68 6.80 7.46 4.90 3.97 3.47 10.93 19.77 12.31 11.38 11.06 0.00 4.10 3.16 3.50 4.42 6.35 45.2%
ALLIED NEVADA GOLD CORP 0.92 0.75 0.54 0.46 0.43 3.10 1.94 1.14 1.04 0.64 7.17 6.61 3.80 2.90 2.02 10.67 6.63 3.62 3.24 2.18 12.00 9.72 4.84 4.21 2.54 13.36 106.1%
HECLA MINING CO 0.75 0.76 0.72 0.67 0.63 2.60 1.77 1.28 1.22 1.16 9.55 8.44 5.08 4.25 3.76 6.43 4.05 2.25 1.98 1.70 27.59 29.50 10.53 8.90 7.45 1.34 1.07 1.17 0.84 1.34 4.50 51.0%
NEVSUN RESOURCES LTD 0.95 0.91 0.80 0.74 1.07 2.02 0.88 0.92 1.44 2.23 4.78 2.45 2.76 3.53 0.96 2.46 0.90 0.96 1.66 4.23 11.66 3.53 4.54 7.38 3.36 3.90 3.69 3.83 5.05 71.3%
AURIZON MINES LTD 1.72 2.95 9.42 10.13 6.33 4.92 19.66 67.50 21.32 0.00 4.67 21.4%
SILVER STANDARD RESOURCES 0.49 0.43 0.43 0.43 0.33 2.06 2.72 2.51 2.52 2.25 12.53 13.69 12.65 11.44 6.50 3.23 6.65 5.11 4.79 1.68 181.14 0.00 0.00 0.00 0.00 11.51 81.6%
SEABRIDGE GOLD INC 25.08 166.0%
TANZANIAN ROYALTY EXPLORATIO
GOLDEN STAR RESOURCES LTD 0.25 0.27 0.27 0.23 0.00 0.20 0.24 0.24 0.23 0.21 0.94 1.94 1.35 1.20 0.88 1.39 2.69 1.39 1.16 1.91 8.75 6.00 3.85 1.33 0.00 0.74 77.0%
VISTA GOLD CORP 0.57 10.78 0.84 4.55 368.9%
GREAT BASIN GOLD LTD 0.00 0.01 0.08 10.15
ARGONAUT GOLD INC 1.35 0.91 0.84 0.75 4.34 3.94 3.03 2.69 1.98 7.83 9.66 7.63 5.85 6.70 6.20 6.53 4.65 3.77 2.82 9.76 14.38 10.34 7.92 8.91 10.22 79.7%
TOREX GOLD RESOURCES INC 1.49 2.77 1.46 1.37 1841.66 6.41 2.37 19.00 11.77 4.41 39.12 35.95 0.00 0.00 0.00 0.00 2.47 85.5%
LIONGOLD CORP LTD 9.18 184.17
CHINA GOLD INTERNATIONAL RES 0.77 0.69 0.62 3.14 3.13 1.93 6.65 7.95 9.36 7.25 12.98 17.74 17.17 0.49 0.00 0.00 3.31 18.3%
PERSEUS MINING LTD 0.66 0.59 0.52 0.41 0.33 1.45 0.78 0.65 0.45 0.40 3.79 3.58 2.30 1.26 1.30 3.30 1.86 1.53 0.84 0.82 4.06 5.35 3.85 1.96 2.04 0.00 0.00 0.39 5.51 5.91 1.60 226.3%
SANDSTORM GOLD LTD 9.12 8.28 6.05 4.78 6.13 10.70 12.56 8.37 6.73 9.54 11.38 13.56 6.98 5.28 19.42 34.70 16.43 11.59 22.56 11.01 78.4%
OCEANAGOLD CORP 0.60 0.56 0.54 0.52 0.57 0.93 0.69 0.62 0.66 0.84 3.00 1.83 1.71 1.91 3.63 4.06 2.71 2.76 3.01 6.29 19.31 6.75 5.28 6.37 2.09 61.1%
MEDUSA MINING LTD 0.86 0.74 0.56 0.44 0.39 3.01 2.50 1.20 1.05 0.78 5.00 4.00 2.56 1.71 1.69 4.04 3.51 1.60 1.43 1.40 4.64 3.76 1.87 1.74 2.12 6.99 1.38 5.26 8.03 11.77 4.45 182.4%
DUNDEE PRECIOUS METALS INC 0.71 0.66 0.56 0.52 1.53 1.31 1.17 1.07 4.38 4.42 3.40 2.99 2.70 3.92 3.57 2.57 2.09 1.55 7.13 8.07 5.35 4.76 4.30 0.00 0.00 10.00 132.6%
RIO ALTO MINING LTD 1.50 1.11 1.01 1.04 1.09 1.04 0.89 3.11 3.15 3.30 3.22 2.75 1.57 2.34 2.09 1.92 3.70 4.50 4.42 4.38 3.36 0.00 0.00 0.00 5.28 171.0%
AURIZON MINES LTD 1.72 2.95 9.42 10.13 6.33 4.92 19.66 67.50 21.32 0.00 4.67 21.4%
ENDEAVOUR SILVER CORP 1.66 1.44 1.22 1.16 1.15 4.12 5.58 4.00 3.76 3.46 3.84 4.74 3.11 2.82 2.90 7.83 12.56 8.64 7.71 7.89 6.84 99.4%
CONTINENTAL GOLD LTD 220.35 264.41 247.87 2.17 174.25 6.97 3.67 8.71 9.38 184.1%
RUBICON MINERALS CORP 0.83 5.82 32.14 4.43 12.60 43.55 7.11 2.33 72.8%
SILVERCORP METALS INC 2.39 1.90 1.36 1.54 6.23 5.13 3.20 3.81 4.74 3.73 2.34 2.81 13.24 9.40 5.70 7.05 3.48 5.30 88.1%
EVOLUTION MINING LTD 0.37 0.36 0.33 0.30 0.31 0.86 0.67 0.60 0.58 0.61 2.06 2.12 1.91 1.86 1.88 2.48 1.89 1.64 1.58 1.78 5.58 6.93 5.81 4.87 5.42 0.00 1.39 2.96 3.13 2.61 0.97 68.5%
CHINA PRECIOUS METAL RESOURC 1.43 1.03 0.91 0.75 3.76 3.11 2.39 2.46 11.73 7.99 7.01 5.76 5.41 12.90 9.92 8.22 8.06 0.78 1.66 28.4%
SEABRIDGE GOLD INC 25.08 166.0%
BEADELL RESOURCES LTD 4.32 1.80 1.18 0.93 0.60 72.91 1.32 1.21 1.37 1.47 3.57 2.52 3.47 3.59 3.03 3.97 5.09 3.89 3.13 4.15 3.78 0.00 0.39 1.76 1.76 3.33 0.94 84.9%
RESOLUTE MINING LTD 0.66 0.58 0.51 0.44 0.31 0.62 0.57 0.66 0.62 0.61 1.87 1.73 2.33 1.95 2.09 1.19 1.16 1.55 1.30 1.10 2.71 2.55 4.88 3.86 3.60 0.00 6.61 3.05 4.75 8.47 1.18 99.6%
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 2.25 2.25 2.06 1.89 2.25 1.44 1.44 1.37 1.32 1.44 10.14 10.14 9.46 9.81 10.14 9.09 9.09 8.38 7.83 9.09 14.58 14.58 13.09 11.89 14.58 2.17 2.17 2.34 2.52 2.17 1775.4 10.5%
Euro Stoxx 50 Pr 1.14 1.14 1.08 1.02 1.14 0.74 0.74 0.72 0.70 0.74 5.65 5.65 5.18 4.72 5.65 6.93 6.93 6.55 6.19 6.93 11.34 11.34 10.12 9.11 11.35 4.40 4.40 4.68 5.04 4.40 2974.5 13.7%
NIKKEI 225 1.51 1.51 1.41 1.31 1.51 0.72 0.72 0.70 0.68 0.72 8.87 8.87 8.20 7.47 8.87 8.66 8.66 8.02 7.54 8.66 17.52 17.52 15.59 14.02 17.52 1.66 1.66 1.81 1.96 1.66 14876.5 7.4%
FTSE 100 INDEX 1.66 1.66 1.55 1.45 1.66 0.94 0.94 0.91 0.93 0.94 8.24 8.25 7.48 6.85 8.24 6.79 6.79 6.40 6.01 6.79 11.75 11.75 10.70 9.86 11.75 3.98 3.98 4.28 4.66 3.98 6996.7 11.6%
SWISS MARKET INDEX 2.32 2.32 2.15 2.00 2.32 1.98 1.98 1.88 1.80 1.98 11.84 11.84 10.80 9.66 11.84 12.99 12.99 11.96 11.20 12.99 14.52 14.52 13.07 11.91 14.52 3.34 3.34 3.73 4.27 3.34 8621.0 11.8%
S&P/TSX COMPOSITE INDEX 1.61 1.61 1.50 1.40 1.61 1.38 1.38 1.42 1.47 1.38 8.15 8.15 7.35 6.12 8.15 8.29 8.29 7.33 6.76 8.29 14.00 14.00 12.35 11.27 14.00 3.32 3.32 3.47 3.64 3.32 14185.0 16.9%
S&P/ASX 200 INDEX 1.78 1.78 1.69 1.59 1.78 1.67 1.67 1.58 1.50 1.67 10.55 10.55 9.37 8.52 10.55 9.18 9.18 8.18 7.48 9.18 14.29 14.29 12.81 11.68 14.29 4.80 4.80 5.11 5.48 4.80 5209.2 10.6%
HANG SENG INDEX 1.24 1.24 1.14 1.05 1.24 1.61 1.61 1.48 1.37 1.61 7.39 7.39 7.04 6.63 7.39 7.59 7.59 6.93 6.31 7.59 9.92 9.92 9.14 8.35 9.92 3.88 3.88 4.18 4.59 3.88 24826.0 19.3%
MSCI EM 1.36 1.36 1.25 1.14 1.36 0.97 0.97 0.91 0.85 0.97 6.72 6.72 6.16 5.71 6.72 7.24 7.24 6.56 6.12 7.24 10.38 10.38 9.35 8.58 10.38 2.97 2.97 3.29 3.61 2.97 1132.2 20.4%
ENDEAVOUR MINING CORP 0.65 0.48 0.40 0.36 0.22 1.32 1.45 1.19 0.95 0.49 2.71 2.06 1.81 1.58 1.20 3.61 4.06 6.59 3.29 0.93 2.17 287.5%
FORTUNA SILVER MINES INC 1.71 1.39 1.18 1.02 0.91 2.46 2.43 1.97 1.98 2.08 6.19 7.12 6.14 5.85 6.79 4.96 5.06 3.70 3.53 4.23 12.05 14.53 10.60 9.32 11.47 4.80 37.2%
MCEWEN MINING INC 0.57 0.57 0.56 23.21 25.21 3.47 12.00 33.60 8.25 45.40 7.44 3.31 18.67 48.00 13.44 33.60 3.27 94.5%
MAG SILVER CORP 2.61 2.90 3.47 4.13 2.13 5.59 2.57 7.50 0.00 0.00 0.00 14.25 131.7%
PRIMERO MINING CORP 0.75 0.76 0.81 0.66 2.78 2.57 2.06 1.51 1.16 4.81 5.68 5.19 4.44 2.45 4.71 4.62 2.98 1.98 1.32 9.02 10.92 8.17 6.69 3.68 0.00 0.00 8.42 79.2%
KINGSGATE CONSOLIDATED LTD 0.27 0.29 0.30 0.29 0.43 0.56 0.60 0.56 0.53 0.44 1.66 2.33 1.92 1.79 2.36 1.97 3.01 2.73 2.44 1.72 2.23 6.68 8.34 6.51 2.33 16.18 7.12 7.49 8.24 17.90 2.35 76.4%
TIMMINS GOLD CORP 2.08 1.58 1.25 1.25 2.09 1.70 1.56 1.52 1.51 5.87 4.85 4.98 4.97 4.55 4.33 3.74 3.62 4.01 3.45 8.35 7.01 7.18 6.82 6.54 0.00 0.00 0.00 3.31 42.8%
ST BARBARA LTD 0.28 0.24 0.21 0.20 0.25 0.42 0.43 0.36 0.34 0.39 0.71 2.42 1.36 1.26 1.67 1.73 2.44 1.67 1.61 2.02 1.28 6.12 3.55 3.35 5.34 0.00 0.00 2.15 3.87 4.30 1.02 120.4%
PREMIER GOLD MINES LTD 0.64 144.07 140.77 0.00 5.34 191.8%
NORTHERN STAR RESOURCES LTD 2.90 2.18 1.80 1.51 1.32 2.45 1.86 1.68 1.68 0.95 6.41 4.23 4.74 5.43 2.76 4.48 3.06 2.77 2.81 1.75 11.34 8.47 6.98 6.76 4.70 0.00 4.09 4.72 3.62 5.51 0.99 56.5%
TANZANIAN ROYALTY EXPLORATIO
REAL GOLD MINING LTD 1.43 4.50 6.01 3.34 7.55 0.00
GOLDEN STAR RESOURCES LTD 0.25 0.27 0.27 0.23 0.00 0.20 0.24 0.24 0.23 0.21 0.94 1.94 1.35 1.20 0.88 1.39 2.69 1.39 1.16 1.91 8.75 6.00 3.85 1.33 0.00 0.74 77.0%
ROMARCO MINERALS INC 0.27 0.46 0.30 0.21 2.75 1.83 18.61 40.62 446.73 1.16 146.5%
BANRO CORPORATION 0.46 4.46 1.40 0.57 0.53 0.47 70.85 3.80 1.20 0.98 1.03 197.54 8.26 2.94 2.42 1.70 16.94 2.17 1.79 1.90 1.28 0.00 0.00 7.70 8.98 1.77 115.9%
COLOSSUS MINERALS INC 1.08 1.69 1.34 0.81 13.67 0.87 0.53 0.61 4.31 1.57 1.51 2.22 0.96 1.08 4.13 2.04 2.00 0.00 4.09 235.4%
RAINY RIVER RESOURCES LTD 1.48 355.81 355.81 0.00 3.73 5.2%
SULLIDEN GOLD CORP LTD 0.78 17.39 1.47 5.27 4.94 2.12 9.40 3.95 1.68 112.8%
ASANKO GOLD INC 0.80 0.84 2.09 0.67 2.64 3.96 0.00 0.00 0.00 0.00 4.07 81.0%
BEAR CREEK MINING CORP 1.09 3.47 104.1%
PARAMOUNT GOLD AND SILVER 0.69 0.47 0.86 1.64 37.8%
KIRKLAND LAKE GOLD INC 1.32 1.24 1.09 0.80 1.87 2.00 1.31 0.93 0.69 5.79 11.39 4.91 2.56 1.75 5.71 11.71 4.83 2.41 2.11 6.07 232.63 11.08 4.32 2.83 8.03 81.6%
GUYANA GOLDFIELDS INC 0.68 0.56 0.59 0.60 0.47 0.41 0.82 0.75 2.81 1.38 1.16 0.42 6.99 2.33 0.00 4.79 254.9%
HIGHLAND GOLD MINING LTD 0.34 0.31 0.29 0.26 0.23 0.77 0.69 0.57 0.56 0.57 1.97 2.51 1.89 1.85 1.57 1.38 1.36 1.10 1.07 1.15 2.60 3.05 2.51 2.75 2.91 9.09 8.60 9.21 7.74 135.65 153.5%
INDOPHIL RESOURCES NL
LYDIAN INTERNATIONAL LTD 1.97 1.24 1.48 0.96 6.63 2.75 15.30 14.14 3.23 169.3%
SABINA GOLD & SILVER CORP 0.56 0.33 0.56 0.58 0.00 3.89 297.2%
LAKE SHORE GOLD CORP 0.14 0.20 0.18 0.94 0.67 0.54 0.47 0.40 3.00 2.30 1.51 1.14 0.85 7.67 3.84 2.13 1.89 1.40 11.67 4.77 3.50 0.96 205.6%
BRIGUS GOLD CORP 0.43 0.97 0.80 0.74 0.59 0.43 2.21 1.83 1.83 1.62 1.26 3.47 2.41 2.14 1.76 1.67 5.20 4.18 4.36 2.76 2.43 1.23 141.3%
GREAT PANTHER SILVER LTD 1.77 1.93 1.61 5.97 15.57 7.94 4.96 4.18 4.65 10.48 4.57 12.22 52.95 21.47 79.43 26.48 1.15 52.2%
INTREPID MINES LTD 0.86 1.09 1.14 1.01 0.60 4325.94 4.45 0.60 0.00 0.00 0.00 0.00 0.21 -25.0%
VISTA GOLD CORP 0.57 10.78 0.84 4.55 368.9%
ALEXCO RESOURCE CORP 0.83 1.01 0.87 0.79 0.50 3.25 12.27 3.86 2.00 1.41 5.56 58.28 29.14 21.04 19.64 3.42 1.94 72.9%
ATAC RESOURCES LTD 1.04 0.92 0.86 0.80 2.13 156.0%
SCORPIO MINING CORP 1.43 1.39 0.86 5.07 4.42 2.91 0.74 3.02 3.59 3.09 8.50 10.97 10.30 1.62 1.57 360.8%
MIDWAY GOLD CORP 1.29 1.87 1.65 1.63 2.08 1.25 21.57 8.27 25.19 2.38 99.21 15.26 1.70 80.0%
PATAGONIA GOLD PLC
GRYPHON MINERALS LTD 0.25 0.25 0.25 0.21 0.12 21.94 19.45 29.08 0.87 0.31 6.14 0.99 0.81 0.20 0.05 3.07 1.05 0.00 0.00 0.00 0.00 0.00 0.39 190.2%
DRDGOLD LTD-SPONSORED ADR 1.00 0.99 5.60 4.70 7.86 7.21 5.51 4.56 6.90 27.1%
RED 5 LTD 6.09 2.07 0.68 0.66 0.41 0.86
LINGBAO GOLD CO LTD-H 0.33 0.33 0.32 0.31 0.12 0.12 0.12 0.14 6.01 6.39 5.94 6.24 3.92 6.05 6.62 7.85 6.99 5.19 4.72 3.78 1.83 36.2%
INTL TOWER HILL MINES LTD 0.29 1.14 0.00 1.85 184.6%
SARACEN MINERAL HOLDINGS LTD 0.40 0.24 0.25 0.21 0.19 0.39 0.34 0.36 0.35 0.31 1.26 1.03 0.98 1.00 1.01 1.30 1.21 1.06 0.92 1.11 2.67 2.07 1.90 1.88 1.43 0.00 0.00 0.00 0.00 0.00 0.19 60.0%
EXETER RESOURCE CORP 1.15 1.89 165.9%
RICHMONT MINES INC 0.60 0.60 0.47 5.71 5.24 2.24 15.23 35.53 4.44 3.56 134.0%
RAMELIUS RESOURCES LTD 0.28 0.17 0.15 0.15 0.49 0.36 0.29 0.33 0.27 6.14 0.99 1.50 1.57 0.35 0.26 0.21 0.26 0.15 3.65 27.00 4.09 6.43 3.38 0.00 0.00 0.00 3.70 7.41 0.25 88.9%
GOLDEN MINERALS CO 2.35 2.10 1.50 1.53 0.40 1.97 1.07 -21.2%
SAN GOLD CORP 0.15 0.16 0.25 0.27 0.21 0.91 1.54 0.66 0.70 0.81 1.37 3.40 1.64 0.23 117.5%
OREZONE GOLD CORP 4.12 4.12 4.12 0.41 3.33 7.39 1.94 362.1%
GRAN COLOMBIA GOLD CORP 0.13 0.16 0.13 0.08 25.26 0.99 0.39 5.21 28.27 4.95 2.22 58.93 5.89 0.86 9.25 397.3%
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] |
01.07.2013
Goldcorp, Inc. is engaged in the acquisition, exploration, development and
operation of precious metal properties in Canada, the United States, Mexico and
Central and South America.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (21.09.2012) 47.42
52-Week Low (26.06.2013) 22.22
Daily Volume
24.73
52-Week High % Change -47.85% Dividend Yield 2.24
52-Week Low % Change 11.30% Beta 0.71
% 52 Week Price Range High/Low 9.96% Equity Float 809.06
Shares Out 31.05.2013 812.0 Short Int 5.26
20'080.41 1 Yr Total Return -33.10%
Total Debt 783.00 YTD Return -31.96%
Preferred Stock 0.0 Adjusted BETA 0.711
Minority Interest 213.0 Analyst Recs 27
Cash and Equivalents 918.00 Consensus Rating 4.407
Enterprise Value 20'554.41
Average Volume 5 Day 11'029'279
GG US EQUITY YTD Change - Average Volume 30 Day 7'844'050
GG US EQUITY YTD % CHANGE - Average Volume 3 Month 7'903'566
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
2'419.6 2'723.6 3'738.0 5'362.0 5'435.0 5'357 5'101 4'677 5'879 1'151 1'206
9.42x 10.50x 9.95x 6.61x 5.50x 27.45x 24.55x 4.60x 3.69x 18.12x 17.49x
1'052.2 1'366.2 2'026.0 2'336.0 2'798.0 2'966.0 2'532.0 2'187.7 3'115.5 555.4 603.6
21.66x 20.94x 18.36x 15.18x 10.69x 12.15x 10.97x 9.40x 6.60x 8.68x 8.49x
1'475.6 240.2 2'051.0 1'187.0 1'749.0 1'709.0 1'579.0 1'066.8 1'513.5 210.1 248.0
57.34x 50.85x 30.36x 22.24x 18.47x 23.69x 19.73x 19.44x 13.51x 18.41x 16.96x
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 81.59
Tot Debt to Common Equity 3.45% Accounts Payable Turnover Day 83.78
Accounts Receivable Turnover 8.61 Cash Conversion Cycle 33.03
Inventory Turnover 4.47
Fiscal Year Ended
Goldcorp IncPrice/Volume
Valuation Analysis
13'961'380.00
Current Price (7/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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5'000.0
6'000.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 30'068'165 3.7 (2'289'399) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 28'365'944 3.49 (3'227'565) 28.06.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 23'371'159 2.88 379'529 31.03.2013 Bank
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 19'122'015 2.35 (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 15'884'009 1.96 5'768'962 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 15'368'322 1.89 (264'603) 31.03.2013 Investment Advisor
CI INVESTMENTS INC Multiple Portfolios MF-AGG 12'996'285 1.6 (440'597) 31.12.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 11'605'532 1.43 195'729 31.03.2013 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 11'582'812 1.43 (224'052) 31.03.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 11'159'562 1.37 3'920'300 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 10'893'980 1.34 (533'828) 27.06.2013 Investment Advisor
RS INVESTMENT MANAGE RS INVESTMENT MANAGE 13F 8'785'563 1.08 4'171'254 31.03.2013 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 7'186'295 0.89 (176'695) 31.03.2013 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 6'835'256 0.84 1'053'271 31.03.2013 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 6'101'525 0.75 (20'600) 31.12.2012 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 6'076'235 0.75 (1'030'733) 31.03.2013 Investment Advisor
BANK OF AMERICA CORP BANK OF AMERICA 13F 5'947'164 0.73 1'660'114 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 5'776'522 0.71 - 31.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank JORGE M BERISTAIN hold 3 M 27 12 month 28.06.2013
Stifel GEORGE J TOPPING buy 5 M 36 Not Provided 28.06.2013
Cowen and Company ADAM P GRAF market perform 3 M 23 12 month 26.06.2013
Credit Suisse ANITA SONI neutral 3 M 28 Not Provided 25.06.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 36 12 month 24.06.2013
Salman Partners DAVID WEST top pick 5 M 45 12 month 19.06.2013
TD Securities GREG BARNES buy 5 M 37 12 month 19.06.2013
GMP GEORGE V ALBINO buy 5 M 41 Not Provided 17.06.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 12.06.2013
JPMorgan JOHN BRIDGES overweight 5 M 47 6 month 06.06.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 39 12 month 24.05.2013
Macquarie TONY LESIAK outperform 5 M 37 12 month 17.05.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 42 Not Provided 09.05.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 41 12 month 09.05.2013
CIBC World Markets ALEC KODATSKY sector outperform 5 M 45 Not Provided 08.05.2013
Davenport & Co LLOYD T O'CARROLL buy 5 M 35 Not Provided 08.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 43 12 month 07.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 44 12 month 03.05.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 28 Not Provided 03.05.2013
Barclays FAROOQ HAMED overweight 5 M 38 Not Provided 03.05.2013
Jefferies PETER D WARD hold 3 M 27 12 month 02.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 35 Not Provided 28.04.2013
Makor Capital ALBERT SAPORTA buy 5 M 33 Not Provided 15.04.2013
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] |
01.07.2013
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 (21.09.2012) 43.19
52-Week Low (28.06.2013) 14.67
Daily Volume
15.74
52-Week High % Change -63.56% Dividend Yield 5.08
52-Week Low % Change 7.29% Beta 0.75
% 52 Week Price Range High/Low 3.75% Equity Float 998.40
Shares Out 31.05.2013 1'001.2 Short Int 13.37
15'758.14 1 Yr Total Return -56.94%
Total Debt 13'943.00 YTD Return -54.30%
Preferred Stock 0.0 Adjusted BETA 0.753
Minority Interest 2'663.0 Analyst Recs 33
Cash and Equivalents 2'093.00 Consensus Rating 3.727
Enterprise Value 30'905.14
Average Volume 5 Day 29'540'970
ABX US EQUITY YTD Change - Average Volume 30 Day 18'750'142
ABX US EQUITY YTD % CHANGE - Average Volume 3 Month 21'192'920
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 13'188.3 13'960.4 3'138.9 3'232.1
4.64x 5.27x 5.25x 4.08x 3.41x 15.70x 14.05x 2.40x 2.28x 9.92x 9.76x
3'010.0 3'589.0 6'211.0 8'327.0 7'358.0 8'579.0 7'071.0 6'360.8 6'652.7 1'475.1 1'555.6
11.75x 11.95x 9.30x 6.98x 6.73x 6.58x 6.30x 4.86x 4.65x 5.07x 5.06x
785.0 (4'274.0) 3'582.0 4'484.0 (665.0) 4'522.0 (847.0) 2'955.2 2'961.6 607.6 646.3
20.18x 16.56x 15.62x 9.79x 9.36x 9.18x 8.90x 5.43x 5.38x 5.83x 5.63x
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
31'011'569.00
Current Price (7/dd/yy) Market Data
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0.0
2'000.0
4'000.0
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8'000.0
10'000.0
12'000.0
14'000.0
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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 29'144'249 2.91 (4'654'979) 28.06.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 27'703'488 2.77 (2'366'585) 31.03.2013 Bank
CAPITAL GROUP COMPAN n/a ULT-AGG 27'616'252 2.76 (47'634'385) 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 26'847'836 2.68 16'089'445 31.03.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 23'321'665 2.33 11'821'880 31.05.2013 Investment Advisor
FMR LLC n/a ULT-AGG 19'206'428 1.92 (791'864) 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
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 14'593'546 1.46 3'726'545 31.03.2013 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 14'352'644 1.43 (49'223) 31.05.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 14'348'784 1.43 925'862 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 13'698'310 1.37 111'566 31.03.2013 Investment Advisor
INSTITUTIONAL CAPITA INSTITUTIONAL CAPITA 13F 12'481'312 1.25 (248'326) 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
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 8'491'106 0.85 2'265'919 31.03.2013 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 8'429'880 0.84 (1'597'843) 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 8'348'606 0.83 3'202'367 31.03.2013 Investment Advisor
SCHEER ROWLETT & ASS SCHEER ROWLETT & ASS 13F 8'254'922 0.82 397'151 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 24 12 month 01.07.2013
JPMorgan JOHN BRIDGES neutral 3 M 28 6 month 01.07.2013
BMO Capital Markets DAVID HAUGHTON underperform 1 D 17 12 month 30.06.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 20 12 month 28.06.2013
Stifel GEORGE J TOPPING buy 5 M 30 Not Provided 28.06.2013
Salman Partners DAVID WEST buy 5 M 29 12 month 28.06.2013
GMP GEORGE V ALBINO buy 5 M 24 12 month 27.06.2013
Cowen and Company ADAM P GRAF market perform 3 M 13 12 month 26.06.2013
Credit Suisse ANITA SONI neutral 3 D 20 Not Provided 25.06.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 19.06.2013
TD Securities GREG BARNES hold 3 M 24 12 month 19.06.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 26 12 month 11.06.2013
Canaccord Genuity Corp STEVEN BUTLER hold 3 M 23 12 month 05.06.2013
Cormark Securities Inc. RICHARD GRAY market perform 3 M 23 12 month 29.05.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 27 12 month 27.05.2013
Macquarie TONY LESIAK underperform 1 D 18 12 month 16.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 28 Not Provided 09.05.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 33 Not Provided 08.05.2013
Davenport & Co LLOYD T O'CARROLL buy 5 M 27 Not Provided 08.05.2013
Argus Research Corp WILLIAM V SELESKY hold 3 M #N/A N/A Not Provided 03.05.2013
Hamburger Sparkasse INGO SCHMIDT buy 5 M #N/A N/A Not Provided 03.05.2013
Jefferies PETER D WARD buy 5 M 30 12 month 30.04.2013
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
Barclays FAROOQ HAMED equalweight 3 M 24 Not Provided 24.04.2013
Makor Capital ALBERT SAPORTA buy 5 M 30 Not Provided 15.04.2013
Accountability Research Corp HARRIET LI buy 5 M 43 Not Provided 03.04.2013
EVA Dimensions CRAIG STERLING sell 1 D #N/A N/A Not Provided 26.02.2013
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] |
01.07.2013
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 (26.06.2013) 27.07
Daily Volume
29.95
52-Week High % Change -48.30% Dividend Yield 4.92
52-Week Low % Change 10.64% Beta 0.64
% 52 Week Price Range High/Low 9.33% Equity Float 491.01
Shares Out 22.04.2013 492.3 Short Int 15.90
14'942.67 1 Yr Total Return -36.00%
Total Debt 6'298.00 YTD Return -34.13%
Preferred Stock 0.0 Adjusted BETA 0.645
Minority Interest 3'175.0 Analyst Recs 24
Cash and Equivalents 1'647.00 Consensus Rating 3.583
Enterprise Value 23'109.67
Average Volume 5 Day 13'695'702
NEM US EQUITY YTD Change - Average Volume 30 Day 8'923'446
NEM US EQUITY YTD % CHANGE - Average Volume 3 Month 9'125'666
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 8'841.4 10'057.2 2'092.6 2'149.6
3.70x 3.46x 3.45x 3.38x 3.13x 12.61x 13.44x 2.66x 2.38x 11.17x 10.95x
2'139.0 3'799.0 5'118.0 5'162.0 4'169.0 5'185.0 3'731.0 3'025.6 3'606.0 710.7 751.7
10.60x 7.02x 6.43x 6.78x 7.41x 6.08x 7.72x 7.64x 6.41x 7.54x 7.27x
831.0 1'297.0 2'277.0 366.0 1'809.0 342.0 1'634.0 1'203.4 1'569.8 230.2 275.0
20.98x 16.99x 13.50x 13.93x 12.52x 11.59x 12.55x 12.42x 10.22x 12.03x 11.16x
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
21'349'943.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 47'168'624 9.58 6'267'389 27.06.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 23'252'143 4.72 1'215'913 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 21'619'673 4.39 108'377 28.06.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 19'347'700 3.93 (32'540'600) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 18'679'612 3.79 (1'772'862) 28.06.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 12'509'376 2.54 8'462'980 31.03.2013 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 11'032'090 2.24 (1'096'373) 30.04.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 10'350'619 2.1 2'264'400 31.03.2013 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
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 7'349'484 1.49 470'862 31.03.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 7'008'200 1.42 7'008'200 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
FMR LLC n/a ULT-AGG 5'834'755 1.19 (3'985'658) 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 5'497'991 1.12 453'905 31.03.2013 Unclassified
UBS n/a ULT-AGG 5'444'844 1.11 663'471 31.03.2013 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) 30.04.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 4'796'938 0.97 - 31.12.2012 Government
BANK OF AMERICA CORP BANK OF AMERICA 13F 4'420'359 0.9 747'540 31.03.2013 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
Stifel GEORGE J TOPPING hold 3 M #N/A N/A Not Provided 28.06.2013
Deutsche Bank JORGE M BERISTAIN sell 1 M 24 12 month 27.06.2013
Cowen and Company ADAM P GRAF market perform 3 M 23 12 month 26.06.2013
Credit Suisse ANITA SONI neutral 3 M 32 Not Provided 25.06.2013
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 41 12 month 24.06.2013
BB&T Capital Markets GARRETT S. NELSON buy 5 M 42 12 month 24.06.2013
Sterne, Agee & Leach MICHAEL S DUDAS buy 5 M 48 12 month 19.06.2013
TD Securities GREG BARNES hold 3 M 37 12 month 19.06.2013
GMP GEORGE V ALBINO hold 3 M 39 Not Provided 17.06.2013
JPMorgan JOHN BRIDGES overweight 5 M 54 6 month 06.06.2013
Argus Research Corp WILLIAM V SELESKY buy 5 M 42 Not Provided 13.05.2013
Jefferies PETER D WARD hold 3 M 30 12 month 01.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 U 42 12 month 01.05.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 45 Not Provided 30.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 41 12 month 30.04.2013
Barclays FAROOQ HAMED overweight 5 M 45 Not Provided 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
HSBC PATRICK CHIDLEY overweight 5 M 39 Not Provided 28.04.2013
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] |
01.07.2013
Randgold Resources Ltd. provides mining services. The Company offers
acquisition, development, and exploration of gold and other precious metal in
Africa.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (05.10.2012) 127.27
52-Week Low (26.06.2013) 60.44
Daily Volume
64
52-Week High % Change -49.71% Dividend Yield 0.78
52-Week Low % Change 5.89% Beta 0.62
% 52 Week Price Range High/Low 5.33% Equity Float -
Shares Out 28.06.2013 92.3 Short Int 1.20
5'904.65 1 Yr Total Return -28.46%
Total Debt 18.02 YTD Return -35.09%
Preferred Stock 0.0 Adjusted BETA 0.616
Minority Interest 166.1 Analyst Recs 10
Cash and Equivalents 390.76 Consensus Rating 4.400
Enterprise Value 5'813.08
Average Volume 5 Day 1'410'567
GOLD US EQUITY YTD Change - Average Volume 30 Day 945'564
GOLD US EQUITY YTD % CHANGE - Average Volume 3 Month 932'266
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
338.6 432.8 484.6 1'127.1 1'317.8 1'175.7 1'331.2 1'319.0 1'740.3 339.0 361.0
9.01x 15.50x 14.79x 7.97x 6.59x 27.71x 26.69x 4.44x 3.07x - -
97.3 142.3 164.3 581.9 699.2 622.0 688.9 662.8 930.8 - -
31.34x 47.15x 43.62x 15.44x 12.43x 12.18x 11.41x 8.77x 6.25x - -
41.6 69.4 103.5 383.9 431.8 431.7 412.0 403.5 623.8 85.0 94.5
78.87x 94.26x 72.03x 24.30x 20.57x 18.19x 19.26x 15.75x 10.07x 13.85x 11.85x
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
1'870'725.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 8'525'499 9.24 (58'564) 27.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 6'186'287 6.71 (441'271) 28.06.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 5'429'467 5.88 265'676 30.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 4'337'790 4.7 288'408 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 1'531'763 1.66 (121'450) 31.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 1'487'200 1.61 954'000 31.03.2013 Holding Company
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'264'736 1.37 - 31.03.2013 Hedge Fund Manager
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 1'081'729 1.17 67'989 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 1'032'315 1.12 213'780 31.03.2013 Unclassified
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 956'494 1.04 300'000 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 947'594 1.03 (20'901) 31.03.2013 Investment Advisor
PAULSON & CO PAULSON & CO 13F 926'192 1 (4'310) 31.03.2013 Hedge Fund Manager
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 891'270 0.97 (60'950) 31.03.2013 Hedge Fund Manager
IVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 775'000 0.84 550'000 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 676'284 0.73 (145'226) 28.06.2013 Investment Advisor
ASA BERMUDA LIMITED ASA BERMUDA LIMITED 13F 444'700 0.48 - 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 425'216 0.46 128'654 31.03.2013 Bank
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 416'777 0.45 156'408 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
Clarus Securities NANA SANGMUAH buy 5 M 100 18 month 05.06.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 94 12 month 21.05.2013
BMO Capital Markets ANDREW BREICHMANAS outperform 5 M 100 Not Provided 20.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 91 Not Provided 07.05.2013
Dundee Securities Corp JOSH WOLFSON buy 5 M 100 12 month 03.05.2013
Canaccord Genuity Corp TIM DUDLEY buy 5 M 133 12 month 11.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (09.11.2012) 20.59
52-Week Low (26.06.2013) 8.55
Daily Volume
9.51
52-Week High % Change -53.81% Dividend Yield -
52-Week Low % Change 11.23% Beta 0.74
% 52 Week Price Range High/Low 7.97% Equity Float 749.75
Shares Out 31.05.2013 752.4 Short Int 5.56
7'155.42 1 Yr Total Return -37.05%
Total Debt 765.91 YTD Return -44.08%
Preferred Stock 0.0 Adjusted BETA 0.738
Minority Interest 46.8 Analyst Recs 23
Cash and Equivalents 349.59 Consensus Rating 4.391
Enterprise Value 7'720.13
Average Volume 5 Day 9'139'369
AUY US EQUITY YTD Change - Average Volume 30 Day 7'651'814
AUY US EQUITY YTD % CHANGE - Average Volume 3 Month 8'017'587
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
949.4 1'183.3 1'686.8 2'173.3 2'336.8 2'257.0 2'311.9 2'352.9 2'882.7 522.5 597.8
6.36x 7.39x 5.76x 5.04x 5.73x 18.35x 22.46x 3.31x 2.57x 14.81x 12.97x
438.9 575.5 884.1 1'262.7 1'269.4 1'302.7 1'164.1 1'177.4 1'560.7 241.0 295.0
13.76x 15.19x 11.00x 8.67x 10.56x 8.88x 10.44x 6.56x 4.95x 6.58x 6.18x
434.8 192.6 466.5 548.3 442.1 570.1 374.1 492.8 682.9 98.2 125.4
- - - - - 0.00x 0.00x 13.70x 9.73x 12.51x 11.02x
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
13'004'845.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
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 28'005'526 3.72 (2'389'675) 28.06.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 21'120'135 2.81 186'776 31.03.2013 Bank
FMR LLC n/a ULT-AGG 18'875'707 2.51 (20'681'489) 31.03.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 18'819'251 2.5 8'691'202 31.05.2013 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 12'696'118 1.69 12'696'118 31.03.2013 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
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 9'490'738 1.26 3'729'389 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 9'335'908 1.24 (199'345) 31.03.2013 Investment Advisor
DONALD SMITH & CO IN DONALD SMITH & CO IN 13F 8'469'389 1.13 3'072'073 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 7'226'163 0.96 (304'473) 30.04.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 6'942'805 0.92 6'942'805 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 6'839'801 0.91 6'839'801 31.03.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 6'398'774 0.85 6'398'774 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
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 5'913'740 0.79 (332'388) 31.03.2013 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 5'822'420 0.77 352'746 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 5'339'800 0.71 (619'328) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Davy BART JAWORSKI underperform 1 M #N/A N/A Not Provided 26.06.2013
Cowen and Company ADAM P GRAF outperform 5 M 12 12 month 26.06.2013
Morgan Stanley PARETOSH MISRA Overwt/In-Line 5 M 12 12 month 25.06.2013
Credit Suisse ANITA SONI outperform 5 M 15 Not Provided 25.06.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 14 12 month 24.06.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 20.06.2013
TD Securities STEVEN J GREEN buy 5 M 18 12 month 19.06.2013
GMP GEORGE V ALBINO buy 5 M 15 Not Provided 17.06.2013
Raymond James BRAD HUMPHREY outperform 5 M 19 12 month 12.06.2013
National Bank Financial STEPHEN PARSONS outperform 5 M 18 12 month 26.05.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 20 12 month 22.05.2013
Macquarie TONY LESIAK neutral 3 M 12 12 month 17.05.2013
Davenport & Co LLOYD T O'CARROLL buy 5 M 14 Not Provided 08.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 20 12 month 07.05.2013
HSBC PATRICK CHIDLEY neutral 3 M 12 Not Provided 06.05.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 12 Not Provided 02.05.2013
CIBC World Markets ALEC KODATSKY sector outperform 5 M 19 Not Provided 01.05.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 17 12 month 01.05.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 M 17 12 month 01.05.2013
Barclays FAROOQ HAMED overweight 5 M 16 Not Provided 01.05.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 22 Not Provided 30.04.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 20 Not Provided 30.04.2013
VSA Capital Ltd CHARLIE LONG not rated #N/A N/A M #N/A N/A Not Provided 10.01.2013
Holdings By:
Yamana Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (13.08.2012) 12.03
52-Week Low (26.06.2013) 4.67
Daily Volume
5.25
52-Week High % Change -56.37% Dividend Yield -
52-Week Low % Change 12.42% Beta 0.71
% 52 Week Price Range High/Low 7.88% Equity Float -
Shares Out 20.03.2013 739.8 Short Int 3.85
3'884.00 1 Yr Total Return -51.16%
Total Debt 16'015.70 YTD Return -50.68%
Preferred Stock 0.0 Adjusted BETA 0.714
Minority Interest 1'803.9 Analyst Recs 3
Cash and Equivalents 5'195.60 Consensus Rating 3.000
Enterprise Value -
Average Volume 5 Day 5'828'941
GFI US EQUITY YTD Change - Average Volume 30 Day 5'062'988
GFI US EQUITY YTD % CHANGE - Average Volume 3 Month 5'531'397
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
23'009.5 29'086.9 31'565.3 25'263.7 28'915.8 27'566.3 38'145.8 28'744.4 31'456.0 - -
3.10x 2.56x 2.56x 3.99x 3.05x 13.68x 8.85x 1.76x 1.55x - -
8'713.0 10'955.0 11'960.3 13'527.5 14'243.0 13'712.4 18'260.7 12'281.2 14'919.9 - -
8.19x 6.80x 6.75x 7.45x 6.20x 0.00x 3.66x - - - -
4'457.5 1'535.6 3'631.4 7'026.7 5'658.1 8'055.0 6'365.9 3'780.0 5'128.2 - -
- - - - - 0.00x 0.00x 9.79x 6.88x - -
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 7.83% Short-Term Rating B
Return on Common Equity 13.81%
Return on Capital 10.97% EBITDA/Interest Exp. 24.36
Asset Turnover 0.47% (EBITDA-Capex)/Interest Exp. 6.99
Net Debt/EBITDA 0.72
Gross Margin 38.7% Total Debt/EBITDA 1.01
EBITDA Margin 47.9%
EBIT Margin 33.2% 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 0.64
Quick Ratio 0.39 Accounts receivable turnover-days -
Debt to Assets 16.85% Inventory Days -
Tot Debt to Common Equity 31.19% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 69.00
Inventory Turnover -
Fiscal Year Ended
Gold Fields LtdPrice/Volume
Valuation Analysis
6'925'132.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 47'177'664 6.38 (20'500) 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 40'934'319 5.53 5'017'592 28.06.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 23'613'066 3.19 1'237'745 31.03.2013 Investment Advisor
THORNBURG INVESTMENT THORNBURG INVESTMENT 13F 12'217'700 1.65 5'072'700 31.03.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 9'090'390 1.23 2'820'234 31.05.2013 Investment Advisor
FMR LLC n/a ULT-AGG 8'464'843 1.14 (1'275'318) 31.03.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 7'254'900 0.98 4'486'300 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 6'795'326 0.92 (1'745'314) 27.06.2013 Investment Advisor
PAULSON & CO PAULSON & CO 13F 6'529'748 0.88 (11'852) 31.03.2013 Hedge Fund Manager
NORGES BANK Multiple Portfolios MF-AGG 6'177'141 0.83 - 31.12.2012 Government
RUFFER LLP RUFFER LLP 13F 5'396'309 0.73 (21'230) 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 4'690'600 0.63 (472'200) 31.03.2013 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 4'629'808 0.63 (405'213) 30.04.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 4'338'700 0.59 - 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 4'244'739 0.57 (225'930) 31.03.2013 Unclassified
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 3'930'403 0.53 (7'900) 31.03.2013 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 3'815'976 0.52 9'500 30.04.2013 Investment Advisor
PROSPECTOR PARTNERS PROSPECTOR PARTNERS 13F 3'424'400 0.46 (349'900) 31.03.2013 Hedge Fund Manager
CREDIT SUISSE AG n/a ULT-AGG 3'168'803 0.43 2'839'790 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 8 12 month 10.05.2013
HSBC PATRICK CHIDLEY neutral 3 D 8 Not Provided 28.04.2013
Holdings By:
Gold Fields Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (01.11.2012) 41.30
52-Week Low (26.06.2013) 17.75
Daily Volume
19.67
52-Week High % Change -52.37% Dividend Yield -
52-Week Low % Change 10.82% Beta 1.06
% 52 Week Price Range High/Low 8.15% Equity Float 354.10
Shares Out 31.05.2013 354.6 Short Int 4.33
6'975.20 1 Yr Total Return -25.63%
Total Debt 50.06 YTD Return -44.95%
Preferred Stock 0.0 Adjusted BETA 1.063
Minority Interest 0.0 Analyst Recs 17
Cash and Equivalents 778.22 Consensus Rating 4.529
Enterprise Value 7'989.66
Average Volume 5 Day 9'031'429
SLW US EQUITY YTD Change - Average Volume 30 Day 5'642'020
SLW US EQUITY YTD % CHANGE - Average Volume 3 Month 6'027'691
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
166.7 239.3 423.4 730.0 849.6 771.5 855.7 853.7 969.2 189.4 205.4
12.14x 21.12x 31.91x 13.01x 14.18x 53.44x 53.99x 9.23x 7.69x 42.29x 38.73x
105.5 158.5 316.2 618.8 701.5 654.1 699.9 653.1 760.5 148.0 165.0
19.18x 31.87x 42.72x 15.35x 17.17x 16.49x 17.30x 12.23x 10.51x 12.22x 12.12x
17.3 117.9 153.4 550.0 586.0 575.0 572.3 480.0 539.8 95.5 105.9
- - - - - 0.00x 0.00x 14.18x 12.74x 14.20x 13.47x
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 15.45% Short-Term Rating -
Return on Common Equity 19.11%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA 1.45
Gross Margin 74.3% Total Debt/EBITDA 1.56
EBITDA Margin 81.8%
EBIT Margin 69.1% Total Debt/Equity 1.6%
Net Income Margin 69.0% Total Debt/Capital 1.6%
Asset Turnover 0.23
Current Ratio 15.88 Net Fixed Asset Turnover 0.28
Quick Ratio 15.86 Accounts receivable turnover-days 2.45
Debt to Assets 1.57% Inventory Days -
Tot Debt to Common Equity 1.61% Accounts Payable Turnover Day 21.26
Accounts Receivable Turnover 148.71 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Silver Wheaton CorpPrice/Volume
Valuation Analysis
9'885'631.00
Current Price (7/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
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 14'997'993 4.23 66'224 28.06.2013 Investment Advisor
CARMIGNAC GESTION CARMIGNAC GESTION 13F 13'917'000 3.92 13'917'000 31.12.2012 Investment Advisor
FMR LLC n/a ULT-AGG 6'485'341 1.83 (926'166) 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 6'284'267 1.77 (378'634) 31.03.2013 Bank
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 4'748'500 1.34 20'000 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 4'623'285 1.3 (1'872'251) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 4'268'462 1.2 (81'137) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 3'923'917 1.11 (1'545'382) 27.06.2013 Investment Advisor
TCW GROUP INC TCW GROUP INCORPORAT 13F 3'770'833 1.06 (18'415) 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 3'473'930 0.98 (35'700) 31.03.2013 Hedge Fund Manager
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 3'333'501 0.94 420'000 31.03.2013 Investment Advisor
GREAT WEST LIFE ASSU GREAT WEST LIFE ASSU 13F 3'099'463 0.87 (230'385) 31.03.2013 Insurance Company
UBS n/a ULT-AGG 2'967'396 0.84 195'633 31.03.2013 Unclassified
JP MORGAN n/a ULT-AGG 2'750'546 0.78 (208'041) 30.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 2'727'431 0.77 1'642'706 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 2'623'306 0.74 26'794 31.03.2013 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 2'612'842 0.74 283'586 31.03.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 2'456'700 0.69 (5'718'600) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets DAN ROLLINS outperform 5 M 29 12 month 01.07.2013
Salman Partners DAVID WEST top pick 5 M 37 12 month 26.06.2013
Credit Suisse RALPH M PROFITI neutral 3 D 21 Not Provided 25.06.2013
BMO Capital Markets ANDREW KAIP outperform 5 M 40 Not Provided 24.06.2013
TD Securities DANIEL EARLE buy 5 M 35 12 month 19.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT buy 5 M 34 Not Provided 17.06.2013
JPMorgan JOHN BRIDGES overweight 5 M 37 6 month 06.06.2013
National Bank Financial SHANE NAGLE outperform 5 N 36 12 month 05.06.2013
Scotia Capital TREVOR TURNBULL focus stock 5 M 50 12 month 29.05.2013
GMP CHELSEA HAMILTON buy 5 M 32 Not Provided 29.05.2013
CIBC World Markets COSMOS CHIU sector outperform 5 M 42 18 month 27.05.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 42 12 month 26.05.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 21.05.2013
Macquarie TONY LESIAK neutral 3 M 27 12 month 17.05.2013
Raymond James BRAD HUMPHREY outperform 5 M 41 12 month 14.05.2013
Holdings By:
Silver Wheaton Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (19.09.2012) 36.93
52-Week Low (26.06.2013) 13.08
Daily Volume
14.3
52-Week High % Change -61.28% Dividend Yield -
52-Week Low % Change 9.33% Beta 0.75
% 52 Week Price Range High/Low 5.12% Equity Float -
Shares Out 27.06.2013 383.8 Short Int 6.46
5'510.72 1 Yr Total Return -57.90%
Total Debt 30'375.96 YTD Return -54.18%
Preferred Stock 0.0 Adjusted BETA 0.746
Minority Interest 186.5 Analyst Recs 6
Cash and Equivalents 7'562.20 Consensus Rating 3.667
Enterprise Value -
Average Volume 5 Day 3'729'503
AU US EQUITY YTD Change - Average Volume 30 Day 3'935'596
AU US EQUITY YTD % CHANGE - Average Volume 3 Month 3'435'400
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
29'774.0 30'745.0 38'833.0 47'849.0 52'160.3 51'123.2 51'861.6 61'184.0 70'390.8 - -
3.48x 3.88x 3.60x 3.00x 2.30x 10.32x 9.37x 1.37x 1.13x - -
3'278.0 (2'435.0) 9'720.0 20'443.0 19'105.5 22'721.7 17'555.7 20'567.1 27'317.3 - -
31.64x - 14.37x 7.03x 6.27x 5.12x 5.70x - - - -
(16'138.0) (2'762.0) 637.0 11'282.0 6'814.6 14'088.2 4'225.8 5'056.7 9'814.6 - -
- - - - - 0.00x 0.00x 10.01x 5.38x - -
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 4.24% Short-Term Rating -
Return on Common Equity 9.11%
Return on Capital 7.82% EBITDA/Interest Exp. 10.07
Asset Turnover 0.51% (EBITDA-Capex)/Interest Exp. 2.46
Net Debt/EBITDA 1.36
Gross Margin 36.1% Total Debt/EBITDA 1.69
EBITDA Margin 33.9%
EBIT Margin 20.5% Total Debt/Equity 65.8%
Net Income Margin 13.1% Total Debt/Capital 39.6%
Asset Turnover 0.51
Current Ratio 1.37 Net Fixed Asset Turnover 0.84
Quick Ratio 0.53 Accounts receivable turnover-days -
Debt to Assets 28.22% Inventory Days 98.24
Tot Debt to Common Equity 65.78% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle 63.01
Inventory Turnover 3.72
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
3'469'397.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PAULSON & CO PAULSON & CO 13F 28'254'950 7.36 50'951 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 14'810'494 3.86 (814'185) 28.06.2013 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 11'336'430 2.95 (431'746) 31.03.2013 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 5'518'760 1.44 (1'096'046) 31.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 5'498'290 1.43 (30'115) 30.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 5'230'372 1.36 (1'261'046) 27.06.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 4'945'084 1.29 (259'531) 31.03.2013 Hedge Fund Manager
DUPONT CAPITAL MANAG DUPONT CAPITAL MANAG 13F 3'731'629 0.97 3'731'629 31.03.2013 Investment Advisor
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 3'728'373 0.97 (458'492) 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 3'398'300 0.89 157'600 31.03.2013 Hedge Fund Manager
CAPITAL GROUP COMPAN n/a ULT-AGG 2'612'472 0.68 (22'697) 31.03.2013 Investment Advisor
PASSPORT CAPITAL LLC PASSPORT CAPITAL LLC 13F 2'137'844 0.56 733'688 31.03.2013 Hedge Fund Manager
NUVEEN ASSET MANAGEM Multiple Portfolios MF-AGG 2'090'384 0.54 (581'425) 31.05.2013 Investment Advisor
PLATINUM INVESTMENT PLATINUM INVESTMENT 13F 2'059'815 0.54 (145'000) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 1'939'517 0.51 350'187 31.03.2013 Investment Advisor
ALLIANZ ASSET MANAGE n/a ULT-AGG 1'839'523 0.48 98'426 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 1'622'856 0.42 (95'200) 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 1'611'720 0.42 (310) 31.03.2013 Unclassified
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 1'608'497 0.42 (700) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Societe Generale BRUCE ALWAY sell 1 M 13 12 month 17.06.2013
EVA Dimensions TIMOTHY STANISH hold 3 M #N/A N/A Not Provided 06.06.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 25 12 month 21.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 31 Not Provided 28.04.2013
Makor Capital ALBERT SAPORTA buy 5 M 25 Not Provided 15.04.2013
Holdings By:
AngloGold Ashanti Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (19.09.2012) 40.09
52-Week Low (26.06.2013) 13.38
Daily Volume
14.76
52-Week High % Change -63.18% Dividend Yield -
52-Week Low % Change 10.31% Beta 0.52
% 52 Week Price Range High/Low 5.17% Equity Float -
Shares Out 31.03.2013 274.9 Short Int 1.82
4'068.37 1 Yr Total Return -60.41%
Total Debt 179.30 YTD Return -58.43%
Preferred Stock 0.0 Adjusted BETA 0.522
Minority Interest 262.3 Analyst Recs 13
Cash and Equivalents 241.22 Consensus Rating 3.462
Enterprise Value 4'295.31
Average Volume 5 Day 2'968'186
BVN US EQUITY YTD Change - Average Volume 30 Day 1'820'631
BVN US EQUITY YTD % CHANGE - Average Volume 3 Month 1'649'934
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
766.6 881.5 1'103.8 1'556.6 1'563.5 1'570.2 1'492.0 1'601.4 1'717.5 388.0 411.0
6.61x 9.30x 10.85x 6.05x 6.00x 24.14x 23.72x 2.60x 2.35x - -
(54.4) 351.5 475.4 820.2 569.3 589.1 517.8 691.3 750.5 199.0 204.5
- 23.33x 25.19x 11.49x 16.47x 16.81x 13.14x 6.21x 5.72x 4.84x -
153.3 593.6 660.8 858.9 684.7 848.7 579.9 480.3 503.9 103.3 106.9
33.61x 14.29x 18.66x 11.16x 13.41x 11.93x 11.38x 7.00x 7.48x 10.54x 10.30x
EBITDA 569.30 Long-Term Rating Date -
EBIT 421.85 Long-Term Rating -
Operating Margin 26.98% 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. 68.67
Asset Turnover 0.34% (EBITDA-Capex)/Interest Exp. 15.24
Net Debt/EBITDA -0.07
Gross Margin 47.5% Total Debt/EBITDA 0.35
EBITDA Margin 34.7%
EBIT Margin 23.2% 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 1.44
Quick Ratio 1.42 Accounts receivable turnover-days 39.45
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 9.25 Cash Conversion Cycle 44.85
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 SAAPrice/Volume
Valuation Analysis
3'411'829.00
Current Price (7/dd/yy) Market Data
'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] |
01.07.2013
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) 27.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 13'179'122 4.79 1'099'130 28.06.2013 Investment Advisor
VONTOBEL ASSET MANAG VONTOBEL ASSET MANAG 13F 12'497'006 4.55 4'814'696 31.03.2013 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 4'674'992 1.7 371'700 28.06.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 4'469'673 1.63 (18'676) 30.04.2013 Investment Advisor
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 4'187'270 1.52 3'390'686 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 4'170'730 1.52 (172'571) 31.03.2013 Investment Advisor
HARRIS TRUST & SAVIN Multiple Portfolios MF-AGG 3'497'516 1.27 1'025'840 28.03.2013 Unclassified
CREDIT SUISSE AG n/a ULT-AGG 2'490'156 0.91 1'647'792 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 2'298'752 0.84 - 31.12.2012 Government
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 1'858'000 0.68 51'500 31.03.2013 Investment Advisor
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 1'691'231 0.62 (868'730) 31.03.2013 Investment Advisor
VONTOBEL ASSET MANAG Multiple Portfolios MF-AGG 1'679'805 0.61 28'779 31.01.2013 Investment Advisor
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 1'677'132 0.61 216'700 31.03.2013 Investment Advisor
PARAMETRIC PORTFOLIO PARAMETRIC PORTFOLIO 13F 1'434'207 0.52 33'736 31.03.2013 Investment Advisor
ING GROEP NV ING GROEP NV 13F 1'100'345 0.4 1'054'067 31.03.2013 Investment Advisor
ING INVESTMENT MANAG Multiple Portfolios MF-AGG 1'094'442 0.4 (399) 30.04.2013 Investment Advisor
GAMCO n/a ULT-AGG 1'062'400 0.39 (50'400) 31.03.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley CARLOS DE ALBA Equalwt/No Rating 3 M 21 12 month 25.06.2013
Credit Suisse SANTIAGO PEREZ TEUFFER neutral 3 M 21 Not Provided 25.06.2013
EVA Dimensions TIMOTHY STANISH overweight 5 U #N/A N/A Not Provided 25.06.2013
JPMorgan JOHN BRIDGES neutral 3 M 34 6 month 06.06.2013
Banco BTG Pactual SA CESAR PEREZ-NOVOA buy 5 M 30 12 month 20.05.2013
Banco de Credito del Peru HECTOR JOSUE COLLANTES hold 3 M 21 Not Provided 06.05.2013
Inteligo SAB LALI MERINO buy 5 M 29 Not Provided 03.05.2013
Grupo Santander WALTER CHIARVESIO buy 5 M 33 Not Provided 30.04.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 25 12 month 30.04.2013
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
Holdings By:
Cia de Minas Buenaventura SAA ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
New Gold Inc. is a natural resource company. The Company acquires, explores,
and develops gold properties.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (21.09.2012) 12.84
52-Week Low (27.06.2013) 5.70
Daily Volume
6.42
52-Week High % Change -50.00% Dividend Yield -
52-Week Low % Change 12.63% Beta 0.96
% 52 Week Price Range High/Low 10.08% Equity Float 461.94
Shares Out 31.05.2013 476.9 Short Int 8.77
3'061.81 1 Yr Total Return -32.42%
Total Debt 847.80 YTD Return -41.80%
Preferred Stock 0.0 Adjusted BETA 0.957
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 687.80 Consensus Rating 4.857
Enterprise Value 3'243.71
Average Volume 5 Day 5'242'483
NGD US EQUITY YTD Change - Average Volume 30 Day 4'439'728
NGD US EQUITY YTD % CHANGE - Average Volume 3 Month 4'146'315
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
143.1 323.8 530.5 695.9 791.3 693.5 824.3 920.8 984.5 239.7 252.0
2.55x 4.31x 6.83x 6.62x 6.86x 26.07x 24.77x 3.56x 3.67x - -
13.8 110.4 239.2 344.0 390.1 339.3 387.6 460.3 554.0 95.4 112.0
26.46x 12.64x 15.15x 13.39x 13.91x 13.50x 11.65x 7.05x 5.86x - -
(102.7) (194.3) 47.5 179.0 199.0 187.8 201.7 160.0 224.1 14.6 47.6
- - - - - 0.00x 0.00x 17.21x 12.61x 14.59x 12.84x
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 209.12
Tot Debt to Common Equity 31.68% Accounts Payable Turnover Day 40.25
Accounts Receivable Turnover 32.86 Cash Conversion Cycle 378.94
Inventory Turnover 1.75
Fiscal Year Ended
New Gold IncPrice/Volume
Valuation Analysis
6'485'111.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 62'551'684 13.12 - 27.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 51'601'629 10.82 (19'073) 28.06.2013 Investment Advisor
FMR LLC n/a ULT-AGG 35'344'411 7.41 (401'290) 31.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 12'987'264 2.72 1'051'834 31.03.2013 Holding Company
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 12'943'570 2.71 250'000 30.04.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 12'469'841 2.61 (1'200'483) 31.03.2013 Investment Advisor
RS INVESTMENT MANAGE RS INVESTMENT MANAGE 13F 11'134'273 2.33 1'234'109 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 11'078'536 2.32 1'017'815 31.03.2013 Bank
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 10'011'303 2.1 (5'156'495) 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 8'366'671 1.75 (127'400) 31.03.2013 Hedge Fund Manager
BANK OF NOVA SCOTIA n/a ULT-AGG 7'393'443 1.55 1'122'945 31.03.2013 Bank
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 6'040'968 1.27 3'201'270 31.03.2013 Investment Advisor
LASSONDE PIERRE n/a SEDI 5'645'000 1.18 - 22.03.2012 n/a
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 - 30.04.2013 Investment Advisor
INVESTEC ASSET MANAG INVESTEC ASSET MANAG 13F 5'091'201 1.07 (326'365) 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 4'883'382 1.02 (27'471) 30.04.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 4'785'859 1 703'973 31.03.2013 Pension Fund (ERISA)
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 4'584'060 0.96 190'800 31.03.2013 Investment Advisor
OLIPHANT RANDALL n/a SEDI 4'570'855 0.96 320'855 23.11.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 26.06.2013
Credit Suisse ANITA SONI outperform 5 M 10 Not Provided 25.06.2013
RBC Capital Markets DAN ROLLINS restricted #N/A N/A M 10 12 month 24.06.2013
TD Securities STEVEN J GREEN buy 5 M 10 12 month 19.06.2013
GMP GEORGE V ALBINO buy 5 M 10 Not Provided 17.06.2013
Casimir Capital STUART MCDOUGALL buy 5 M 16 Not Provided 17.06.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 11 12 month 05.06.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 12 12 month 04.06.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 11 12 month 03.06.2013
Scotia Capital TREVOR TURNBULL sector outperform 5 M 13 12 month 03.06.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 U 9 12 month 03.06.2013
National Bank Financial STEPHEN PARSONS outperform 5 M 10 12 month 02.06.2013
BMO Capital Markets ANDREW KAIP restricted #N/A N/A M #N/A N/A Not Provided 31.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 14 12 month 31.05.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 10 12 month 31.05.2013
Holdings By:
New Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (26.06.2013) 25.00
Daily Volume
27.54
52-Week High % Change -51.98% Dividend Yield -
52-Week Low % Change 10.16% Beta 0.62
% 52 Week Price Range High/Low 7.85% Equity Float 172.06
Shares Out 31.05.2013 172.9 Short Int 1.77
4'760.80 1 Yr Total Return -30.55%
Total Debt 842.96 YTD Return -46.86%
Preferred Stock 0.0 Adjusted BETA 0.624
Minority Interest 0.0 Analyst Recs 27
Cash and Equivalents 351.28 Consensus Rating 3.444
Enterprise Value 5'277.37
Average Volume 5 Day 2'436'184
AEM US EQUITY YTD Change - Average Volume 30 Day 1'958'873
AEM US EQUITY YTD % CHANGE - Average Volume 3 Month 1'986'257
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 1'672.8 1'988.1 355.7 407.7
21.80x 14.47x 9.45x 3.75x 4.96x 18.58x 18.18x 3.32x 2.78x 14.99x 13.20x
94.9 202.5 601.8 752.9 787.4 801.6 735.0 585.4 793.7 111.3 140.0
84.80x 43.86x 22.34x 9.08x 12.08x 7.78x 10.34x 9.02x 6.65x 8.84x 8.29x
73.2 86.5 332.1 (568.9) 310.9 (535.6) 256.2 167.3 270.7 20.2 34.1
- - - - - 0.00x 0.00x 28.90x 17.83x 26.20x 20.97x
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 0.70
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
3'529'737.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 20'005'396 11.57 - 27.06.2013 Investment Advisor
FMR LLC n/a ULT-AGG 13'384'122 7.74 2'418'540 31.03.2013 Investment Advisor
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 11'305'234 6.54 696'000 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 8'353'624 4.83 501'322 28.06.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 6'927'650 4.01 223'720 31.03.2013 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 4'381'540 2.53 414'729 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 3'956'923 2.29 (551'324) 31.03.2013 Bank
WELLS FARGO n/a ULT-AGG 3'739'449 2.16 (57'068) 30.04.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 3'507'319 2.03 1'303'500 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 3'247'664 1.88 (83'945) 31.03.2013 Investment Advisor
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 2'433'065 1.41 (37'672) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 2'128'571 1.23 845 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'800'000 1.04 (665'218) 31.03.2013 Investment Advisor
VINIK ASSET MANAGEME VINIK ASSET MANAGEME 13F 1'598'700 0.92 418'800 31.03.2013 Hedge Fund Manager
INVESCO LTD n/a ULT-AGG 1'553'050 0.9 428'246 28.06.2013 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 1'501'826 0.87 (15'150) 31.03.2013 Unclassified
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'343'527 0.78 57'043 31.03.2013 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 1'210'011 0.7 36'572 31.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'051'526 0.61 78'180 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF market perform 3 M 21 12 month 26.06.2013
Credit Suisse ANITA SONI outperform 5 M 39 Not Provided 25.06.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 40 12 month 24.06.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 47 12 month 24.06.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 19.06.2013
Salman Partners DAVID WEST buy 5 M 44 12 month 19.06.2013
TD Securities GREG BARNES buy 5 M 41 12 month 19.06.2013
GMP GEORGE V ALBINO buy 5 M 41 Not Provided 17.06.2013
Raymond James BRAD HUMPHREY market perform 3 M 46 12 month 12.06.2013
JPMorgan JOHN BRIDGES neutral 3 M 39 6 month 06.06.2013
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
National Bank Financial STEPHEN PARSONS sector perform 3 M 42 12 month 26.05.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 47 12 month 22.05.2013
Macquarie TONY LESIAK underperform 1 M 28 12 month 17.05.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 45 Not Provided 07.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 49 12 month 30.04.2013
Canaccord Genuity Corp STEVEN BUTLER hold 3 M 41 Not Provided 29.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 38 12 month 29.04.2013
HSBC PATRICK CHIDLEY underweight 1 D 29 Not Provided 28.04.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 54 Not Provided 26.04.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 46 12 month 26.04.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 M 45 12 month 26.04.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 30 Not Provided 26.04.2013
Barclays FAROOQ HAMED equalweight 3 M 39 Not Provided 26.04.2013
Morgan Stanley PARETOSH MISRA Equalwt/In-Line 3 M #N/A N/A Not Provided 25.10.2012
Holdings By:
Agnico Eagle Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (19.09.2012) 16.20
52-Week Low (27.06.2013) 5.56
Daily Volume
6.18
52-Week High % Change -61.85% Dividend Yield -
52-Week Low % Change 11.22% Beta 0.81
% 52 Week Price Range High/Low 5.86% Equity Float 708.51
Shares Out 31.05.2013 715.0 Short Int 4.07
4'418.75 1 Yr Total Return -49.26%
Total Debt 593.32 YTD Return -51.73%
Preferred Stock 0.0 Adjusted BETA 0.809
Minority Interest 284.1 Analyst Recs 22
Cash and Equivalents 818.83 Consensus Rating 4.091
Enterprise Value 4'628.14
Average Volume 5 Day 7'193'704
EGO US EQUITY YTD Change - Average Volume 30 Day 5'558'692
EGO US EQUITY YTD % CHANGE - Average Volume 3 Month 5'812'822
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
277.7 358.5 791.2 1'103.7 1'147.5 1'156.1 1'214.1 1'226.8 1'337.8 265.7 281.7
10.15x 21.00x 12.74x 6.66x 8.06x 29.80x 29.81x 3.98x 3.88x 17.88x 17.07x
132.0 181.2 423.3 643.9 584.4 659.7 630.5 599.5 659.0 113.5 123.0
21.36x 41.53x 23.82x 11.41x 15.83x 14.80x 11.16x 7.72x 7.02x 9.42x 9.18x
163.7 102.4 221.0 318.7 305.3 334.0 192.0 256.2 303.0 49.8 58.7
- - - - - 0.00x 0.00x 16.18x 13.76x 15.77x 14.61x
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
8'458'269.00
Current Price (7/dd/yy) Market Data
'.135
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1'400.0
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 46'240'578 6.47 (1'069'723) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 46'199'408 6.46 1'979'063 28.06.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 33'729'686 4.72 6'645'120 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 17'640'602 2.47 426'594 31.03.2013 Bank
CARMIGNAC GESTION Multiple Portfolios MF-AGG 13'044'870 1.82 (14'814'642) 29.03.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 12'322'002 1.72 (163'800) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 11'861'546 1.66 11'861'546 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 11'661'328 1.63 861'550 31.03.2013 Hedge Fund Manager
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 11'264'562 1.58 771'210 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 10'662'061 1.49 (256'391) 31.03.2013 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) 30.04.2013 Investment Advisor
BAILLIE GIFFORD AND BAILLIE GIFFORD & CO 13F 8'799'121 1.23 (2'010'762) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 8'762'181 1.23 (170'141) 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
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 7'601'100 1.06 50'000 31.03.2013 Investment Advisor
PRUDENTIAL FINANCIAL n/a ULT-AGG 6'756'612 0.94 64'734 31.05.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 5'819'530 0.81 (2'247'589) 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 5'033'900 0.7 45'300 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
GMP GEORGE V ALBINO buy 5 M 13 12 month 26.06.2013
Morgan Stanley PARETOSH MISRA Overwt/In-Line 5 M 8 12 month 25.06.2013
Credit Suisse ANITA SONI outperform 5 M 10 Not Provided 25.06.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 9 12 month 24.06.2013
Salman Partners DAVID WEST buy 5 M 13 12 month 19.06.2013
TD Securities STEVEN J GREEN action list buy 5 M 14 12 month 19.06.2013
Raymond James BRAD HUMPHREY outperform 5 M 16 12 month 12.06.2013
Haywood Securities Inc. KERRY SMITH buy 5 M 14 12 month 11.06.2013
Paradigm Capital Inc DON MACLEAN hold 3 M 10 12 month 22.05.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 22.05.2013
Macquarie TONY LESIAK neutral 3 M 8 12 month 17.05.2013
CIBC World Markets COSMOS CHIU sector outperform 5 M 14 Not Provided 06.05.2013
Cormark Securities Inc. MIKE KOZAK buy 5 M 12 12 month 06.05.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 7 Not Provided 06.05.2013
Scotia Capital TANYA M JAKUSCONEK sector outperform 5 M 12 12 month 03.05.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 M 10 12 month 03.05.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 11 Not Provided 03.05.2013
Barclays FAROOQ HAMED equalweight 3 M 9 Not Provided 03.05.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 12 Not Provided 02.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 13 Not Provided 28.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 13 Not Provided 12.03.2013
Holdings By:
Eldorado Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (04.10.2012) 11.20
52-Week Low (26.06.2013) 4.53
Daily Volume
5.1
52-Week High % Change -54.44% Dividend Yield 3.14
52-Week Low % Change 12.58% Beta 0.76
% 52 Week Price Range High/Low 8.55% Equity Float 1'139.64
Shares Out 31.05.2013 1'141.7 Short Int 8.09
5'822.49 1 Yr Total Return -36.31%
Total Debt 2'632.60 YTD Return -47.00%
Preferred Stock 0.0 Adjusted BETA 0.757
Minority Interest 75.5 Analyst Recs 27
Cash and Equivalents 1'982.70 Consensus Rating 3.963
Enterprise Value 6'632.79
Average Volume 5 Day 15'526'687
KGC US EQUITY YTD Change - Average Volume 30 Day 13'126'443
KGC US EQUITY YTD % CHANGE - Average Volume 3 Month 13'778'005
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
1'617.0 2'412.1 3'010.1 3'842.5 4'311.4 3'910.6 4'332.9 3'903.3 3'962.5 922.7 890.4
7.84x 5.37x 6.92x 3.37x 2.74x 14.92x 10.04x 1.79x 1.80x 7.33x 7.82x
656.3 1'093.2 1'200.4 1'926.2 1'962.2 1'885.9 1'980.9 1'508.7 1'645.8 338.2 325.7
19.32x 11.85x 17.35x 6.73x 6.01x 6.00x 4.97x 4.40x 4.03x 4.91x 4.74x
(807.2) 309.9 759.7 (2'073.6) (2'504.9) (2'225.3) (2'450.1) 434.4 555.1 7.0 81.0
46.21x 41.68x 146.30x 15.25x 12.61x 12.84x 10.69x 13.21x 10.83x 13.67x 11.38x
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
20'938'684.00
Current Price (7/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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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 57'357'709 5.02 (2'019'268) 28.06.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 29'798'050 2.61 6'302'441 28.06.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 25'903'233 2.27 3'849'773 31.03.2013 Investment Advisor
ARTISAN PARTNERS HOL ARTISAN PARTNERS LP 13F 22'078'500 1.93 22'078'500 31.03.2013 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 20'640'874 1.81 3'329'797 31.03.2013 Investment Advisor
LAZARD ASSET MANAGEM n/a ULT-AGG 20'421'586 1.79 (1'148'398) 31.03.2013 Unclassified
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 19'663'848 1.72 (977'748) 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
ROYAL BANK OF CANADA n/a ULT-AGG 16'120'045 1.41 (8'201'037) 31.03.2013 Bank
NORGES BANK NORGES BANK 13F 15'598'099 1.37 - 31.12.2012 Government
ALTRINSIC GLOBAL ADV ALTRINSIC GLOBAL ADV 13F 14'937'516 1.31 30'083 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 14'193'873 1.24 47'316 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 13'959'251 1.22 (3'120'469) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 13'897'771 1.22 13'897'771 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 12'761'242 1.12 (4'877'985) 30.04.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 12'697'029 1.11 (5'850'702) 31.03.2013 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
PASSPORT CAPITAL LLC PASSPORT CAPITAL LLC 13F 12'217'459 1.07 (1'903'663) 31.03.2013 Hedge Fund Manager
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 10'443'940 0.91 2'570 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel GEORGE J TOPPING hold 3 M #N/A N/A Not Provided 28.06.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 6 12 month 27.06.2013
Cowen and Company ADAM P GRAF market perform 3 M 5 12 month 26.06.2013
Credit Suisse ANITA SONI outperform 5 M 7 Not Provided 25.06.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 8 12 month 24.06.2013
Salman Partners DAVID WEST buy 5 M 8 12 month 19.06.2013
TD Securities GREG BARNES buy 5 M 8 12 month 19.06.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 10 12 month 18.06.2013
Canaccord Genuity Corp STEVEN BUTLER hold 3 M 8 Not Provided 17.06.2013
Macquarie TONY LESIAK outperform 5 M 7 12 month 12.06.2013
HSBC PATRICK CHIDLEY overweight 5 M 10 Not Provided 11.06.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 8 12 month 11.06.2013
GMP GEORGE V ALBINO buy 5 M 8 12 month 11.06.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 D 6 Not Provided 11.06.2013
BMO Capital Markets DAVID HAUGHTON outperform 5 M 9 Not Provided 10.06.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 11 12 month 10.06.2013
JPMorgan JOHN BRIDGES overweight 5 M 12 6 month 06.06.2013
Paradigm Capital Inc DON MACLEAN Under Review #N/A N/A M #N/A N/A Not Provided 22.05.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 22.05.2013
Jefferies PETER D WARD hold 3 M 6 12 month 08.05.2013
CIBC World Markets ALEC KODATSKY sector underperform 1 M 8 Not Provided 08.05.2013
Barclays FAROOQ HAMED equalweight 3 M 7 Not Provided 08.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 10 12 month 30.04.2013
Makor Capital ALBERT SAPORTA buy 5 M 8 Not Provided 15.04.2013
Morgan Stanley PARETOSH MISRA Underwt/In-Line 1 D #N/A N/A Not Provided 10.10.2012
Holdings By:
Kinross Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (01.10.2012) 100.84
52-Week Low (26.06.2013) 38.64
Daily Volume
42.08
52-Week High % Change -58.27% Dividend Yield 1.66
52-Week Low % Change 8.92% Beta 0.66
% 52 Week Price Range High/Low 5.54% Equity Float 61.85
Shares Out 31.05.2013 64.4 Short Int 2.72
2'708.90 1 Yr Total Return -45.85%
Total Debt 293.25 YTD Return -47.99%
Preferred Stock 0.0 Adjusted BETA 0.657
Minority Interest 25.0 Analyst Recs 10
Cash and Equivalents 390.47 Consensus Rating 3.800
Enterprise Value 2'345.57
Average Volume 5 Day 1'589'738
RGLD US EQUITY YTD Change - Average Volume 30 Day 897'753
RGLD US EQUITY YTD % CHANGE - Average Volume 3 Month 994'849
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
66.3 73.8 136.6 216.5 263.1 262.2 292.0 298.4 358.0 65.5 68.8
13.56x 19.29x 18.40x 15.32x 17.19x 55.35x 66.52x 7.99x 6.18x 36.27x -
51.3 59.9 114.2 186.3 233.2 230.7 259.6 265.6 314.6 58.4 56.5
17.51x 23.77x 22.00x 17.80x 19.39x 16.28x 16.16x 8.83x 7.46x 9.07x 8.22x
24.0 38.3 21.5 71.4 92.5 93.6 79.0 92.6 123.0 18.6 20.0
51.41x 91.09x 61.79x 45.40x 48.25x 39.16x 48.88x 27.96x 21.41x 27.54x 23.47x
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
2'188'022.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 6'803'771 10.57 207'220 27.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'518'786 8.57 78'125 28.06.2013 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 2'384'184 3.7 183'158 31.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 1'842'278 2.86 129'548 30.04.2013 Investment Advisor
STUCKERT JAMES W n/a Form 4 1'443'600 2.24 (178'495) 26.06.2013 n/a
FMR LLC n/a ULT-AGG 1'392'949 2.16 (895'027) 31.03.2013 Investment Advisor
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 1'329'864 2.07 95'610 31.05.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 1'209'346 1.88 441'649 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'115'000 1.73 745'000 31.03.2013 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
GAMCO n/a ULT-AGG 678'787 1.05 149'690 31.03.2013 Unclassified
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 633'761 0.98 25'047 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 624'300 0.97 9'000 31.03.2013 Investment Advisor
UBS n/a ULT-AGG 621'096 0.96 518'527 31.03.2013 Unclassified
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 560'996 0.87 (413'048) 31.03.2013 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 558'674 0.87 82'417 31.03.2013 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 533'948 0.83 (96'771) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 71 12 month 24.06.2013
BB&T Capital Markets GARRETT S. NELSON buy 5 M 80 12 month 24.06.2013
National Bank Financial SHANE NAGLE outperform 5 M 78 12 month 04.06.2013
MLV & Co MICHAEL D PETERSON buy 5 M 80 12 month 03.05.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 88 Not Provided 02.05.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 71 12 month 02.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 77 Not Provided 28.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (16.08.2012) 10.54
52-Week Low (24.06.2013) 3.29
Daily Volume
3.81
52-Week High % Change -63.85% Dividend Yield -
52-Week Low % Change 15.81% Beta 0.84
% 52 Week Price Range High/Low 7.17% Equity Float -
Shares Out 21.06.2013 435.3 Short Int 3.31
1'658.45 1 Yr Total Return -58.81%
Total Debt 1'844.00 YTD Return -57.10%
Preferred Stock 0.0 Adjusted BETA 0.836
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 1'773.00 Consensus Rating 5.000
Enterprise Value -
Average Volume 5 Day 4'069'205
HMY US EQUITY YTD Change - Average Volume 30 Day 3'443'423
HMY US EQUITY YTD % CHANGE - Average Volume 3 Month 3'318'861
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
9'617.0 11'496.0 11'284.0 11'596.0 15'169.0 13'997.0 16'353.0 17'452.9 21'284.3 - -
4.37x 2.83x 3.13x 3.41x 2.18x 11.33x 7.37x 0.93x 0.83x - -
1'393.0 2'125.0 1'737.0 2'354.0 4'222.0 3'190.0 3'140.0 4'856.8 6'494.5 - -
30.15x 15.29x 20.33x 16.81x 7.84x 0.00x 8.01x - - - -
(245.0) 2'927.0 (192.0) 617.0 2'645.0 2'496.0 1'176.0 1'678.5 2'091.7 - -
- - - - - 0.00x 0.00x 9.70x 7.84x - -
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
4'246'570.00
Current Price (7/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] |
01.07.2013
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 30'771'192 7.07 781'177 28.06.2013 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) 27.06.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 9'383'119 2.16 129'354 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 5'755'000 1.32 1'930'000 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'994'173 0.92 (462'600) 31.03.2013 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 3'030'594 0.7 (2'974'400) 31.03.2013 Investment Advisor
CREDIT SUISSE AG n/a ULT-AGG 2'283'081 0.52 1'802'132 31.03.2013 Investment Advisor
GAMCO n/a ULT-AGG 1'982'360 0.46 (270) 31.03.2013 Unclassified
TWO SIGMA INVESTMENT TWO SIGMA INVESTMENT 13F 1'780'331 0.41 458'902 31.03.2013 Hedge Fund Manager
TEXAS TEACHER RETIRE TEACHER RETIREMENT S 13F 1'500'000 0.34 - 31.03.2013 Pension Fund (ERISA)
CREDIT AGRICOLE SA CREDIT AGRICOLE SA 13F 1'265'348 0.29 (81'600) 31.03.2013 Investment Advisor
CITIGROUP INCORPORAT n/a ULT-AGG 1'203'118 0.28 490'639 31.03.2013 Investment Advisor
TWO SIGMA ADVISERS L TWO SIGMA ADVISERS L 13F 1'129'600 0.26 726'300 31.03.2013 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 1'050'000 0.24 - 31.03.2013 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 1'005'045 0.23 (1'320'115) 31.03.2013 Investment Advisor
HUSSMAN ECONOMETRICS HUSSMAN ECONOMETRICS 13F 1'000'000 0.23 - 31.03.2013 Investment Advisor
GAM HOLDING LTD GAM HOLDING LTD 13F 998'850 0.23 55'000 31.03.2013 Investment Advisor
AMUNDI LUXEMBOURG SA Multiple Portfolios MF-AGG 751'348 0.17 - 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013
HSBC PATRICK CHIDLEY overweight 5 M 7 Not Provided 28.04.2013
Holdings By:
Harmony Gold Mining Co Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (05.10.2012) 16.88
52-Week Low (26.06.2013) 3.81
Daily Volume
4.33
52-Week High % Change -74.35% Dividend Yield -
52-Week Low % Change 13.65% Beta 0.97
% 52 Week Price Range High/Low 3.98% Equity Float 370.84
Shares Out 31.05.2013 376.6 Short Int 5.99
1'630.52 1 Yr Total Return -61.83%
Total Debt 641.40 YTD Return -61.16%
Preferred Stock 0.0 Adjusted BETA 0.975
Minority Interest 76.7 Analyst Recs 25
Cash and Equivalents 813.50 Consensus Rating 3.480
Enterprise Value 1'710.82
Average Volume 5 Day 9'095'037
IAG US EQUITY YTD Change - Average Volume 30 Day 7'228'772
IAG US EQUITY YTD % CHANGE - Average Volume 3 Month 7'211'735
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
869.6 914.3 1'097.1 1'673.2 1'670.0 1'613.3 1'571.1 1'388.8 1'590.4 326.6 325.4
2.09x 6.14x 5.88x 2.98x 2.52x 13.37x 10.75x 1.30x 1.33x 5.57x 5.81x
342.1 378.6 470.3 785.0 710.1 748.7 641.7 553.4 675.6 127.1 142.6
5.31x 14.82x 13.71x 6.36x 5.94x 5.37x 4.36x 3.09x 2.53x 3.32x 3.45x
(9.9) 114.1 262.6 806.6 334.7 772.4 226.4 171.3 222.1 32.3 32.5
- - - - - 0.00x 0.00x 9.37x 7.25x 8.59x 7.77x
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 4.65% Short-Term Rating -
Return on Common Equity 6.17%
Return on Capital 6.75% EBITDA/Interest Exp. 14.20
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. 0.19
Net Debt/EBITDA 0.00
Gross Margin 43.2% Total Debt/EBITDA 1.01
EBITDA Margin 40.8%
EBIT Margin 30.5% Total Debt/Equity 17.2%
Net Income Margin 20.0% Total Debt/Capital 14.4%
Asset Turnover 0.32
Current Ratio 3.76 Net Fixed Asset Turnover 0.62
Quick Ratio 2.61 Accounts receivable turnover-days 36.68
Debt to Assets 11.93% Inventory Days 144.64
Tot Debt to Common Equity 17.20% Accounts Payable Turnover Day 80.12
Accounts Receivable Turnover 9.95 Cash Conversion Cycle 94.44
Inventory Turnover 2.52
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
13'844'235.00
Current Price (7/dd/yy) Market Data
'.135
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200.0
400.0
600.0
800.0
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 33'007'505 8.77 - 31.05.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 26'609'525 7.07 (13'095'832) 28.06.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 9'719'845 2.58 1'300'000 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
FMR LLC n/a ULT-AGG 7'117'169 1.89 (2'626'159) 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 6'755'000 1.79 290'599 31.03.2013 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
CIBC WORLD MARKETS I CIBC WORLD MARKETS I 13F 5'356'509 1.42 (87'839) 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 5'016'061 1.33 (268'526) 31.03.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 4'925'902 1.31 308'452 31.03.2013 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 4'905'401 1.3 2'828'200 31.03.2013 Investment Advisor
PAULSON & CO PAULSON & CO 13F 3'863'912 1.03 (17'988) 31.03.2013 Hedge Fund Manager
MANULIFE ASSET MANAG MANULIFE ASSET MANAG 13F 3'566'791 0.95 1'447'076 31.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 3'462'599 0.92 275'900 31.03.2013 Holding Company
DEUTSCHE BANK AG n/a ULT-AGG 3'407'054 0.9 536'267 30.04.2013 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
JP MORGAN n/a ULT-AGG 3'071'125 0.82 6'609 31.03.2013 Investment Advisor
CLARINGTON CAPITAL M Multiple Portfolios MF-AGG 3'035'395 0.81 2'248'674 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON hold 3 M #N/A N/A Not Provided 28.06.2013
Credit Suisse ANITA SONI underperform 1 M 4 Not Provided 25.06.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 7 12 month 24.06.2013
Salman Partners DAVID WEST buy 5 M 9 12 month 19.06.2013
TD Securities STEVEN J GREEN buy 5 M 11 12 month 19.06.2013
Societe Generale BRUCE ALWAY sell 1 M 5 12 month 17.06.2013
Global Hunter Securities JEFF WRIGHT buy 5 N 8 12 month 14.06.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 7 12 month 05.06.2013
Clarus Securities NANA SANGMUAH hold 3 M 10 18 month 05.06.2013
GMP GEORGE V ALBINO buy 5 M 9 Not Provided 29.05.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 14 12 month 26.05.2013
Paradigm Capital Inc DON MACLEAN hold 3 D 7 12 month 22.05.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 22.05.2013
Scotia Capital TANYA M JAKUSCONEK sector perform 3 M 7 12 month 21.05.2013
Macquarie TONY LESIAK outperform 5 M 7 12 month 17.05.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 M 9 12 month 14.05.2013
Cormark Securities Inc. MIKE KOZAK market perform 3 M 6 12 month 09.05.2013
Barclays FAROOQ HAMED equalweight 3 M 7 Not Provided 09.05.2013
CIBC World Markets ALEC KODATSKY sector perform 3 M 9 Not Provided 08.05.2013
Veritas Investment Research Co PAWEL RAJSZEL sell 1 M 5 Not Provided 08.05.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 8 Not Provided 07.05.2013
HSBC PATRICK CHIDLEY overweight 5 M 8 Not Provided 28.04.2013
Mackie Research Capital Corp. BARRY D ALLAN hold 3 M 14 Not Provided 12.03.2013
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] |
01.07.2013
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: 03/yy
52-Week High (01.11.2012) 22.83
52-Week Low (26.06.2013) 10.23
Daily Volume
11.64
52-Week High % Change -49.01% Dividend Yield -
52-Week Low % Change 13.78% Beta 1.00
% 52 Week Price Range High/Low 11.19% Equity Float 149.02
Shares Out 31.05.2013 151.4 Short Int 2.68
1'762.36 1 Yr Total Return -29.42%
Total Debt 77.98 YTD Return -36.75%
Preferred Stock 0.0 Adjusted BETA 1.003
Minority Interest 7.3 Analyst Recs 16
Cash and Equivalents 542.32 Consensus Rating 3.250
Enterprise Value 1'323.17
Average Volume 5 Day 3'382'052
PAAS US EQUITY YTD Change - Average Volume 30 Day 2'904'188
PAAS US EQUITY YTD % CHANGE - Average Volume 3 Month 2'585'931
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
338.6 454.8 646.6 855.3 928.6 893.6 942.8 897.3 978.2 210.5 208.3
4.05x 5.14x 6.33x 2.15x 2.57x 11.23x 9.96x 1.57x 1.56x 6.15x 6.08x
121.0 179.1 277.8 445.9 362.0 456.8 345.3 276.5 334.3 52.3 51.2
11.33x 13.05x 14.73x 4.12x 6.60x 6.30x 5.94x 4.79x 3.96x 6.37x 6.28x
24.6 62.0 13.7 352.5 87.4 310.2 57.6 87.0 132.9 14.2 13.2
- - - - - 0.00x 0.00x 18.96x 14.37x 17.99x 15.71x
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 1.70% Short-Term Rating -
Return on Common Equity 2.12%
Return on Capital 2.17% EBITDA/Interest Exp. 47.15
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 26.32
Net Debt/EBITDA -1.29
Gross Margin 45.2% Total Debt/EBITDA 0.13
EBITDA Margin 36.6%
EBIT Margin 24.1% Total Debt/Equity 2.9%
Net Income Margin 9.4% Total Debt/Capital 2.8%
Asset Turnover 0.28
Current Ratio 4.96 Net Fixed Asset Turnover 0.43
Quick Ratio 3.44 Accounts receivable turnover-days 50.25
Debt to Assets 2.30% Inventory Days 162.08
Tot Debt to Common Equity 2.87% Accounts Payable Turnover Day 74.80
Accounts Receivable Turnover 7.26 Cash Conversion Cycle 154.58
Inventory Turnover 2.25
Fiscal Year Ended
Pan American Silver CorpPrice/Volume
Valuation Analysis
4'613'588.00
Current Price (7/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
300.0
400.0
500.0
600.0
700.0
800.0
900.0
1'000.0
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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 10'733'900 7.09 235'556 28.06.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 10'001'527 6.61 (1'140'970) 31.03.2013 Investment Advisor
RIVER ROAD ASSET MAN RIVER ROAD ASSET MAN 13F 3'721'492 2.46 1'725'646 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 3'576'503 2.36 (374'997) 31.03.2013 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
DEUTSCHE BANK AG n/a ULT-AGG 1'969'181 1.3 151'207 30.04.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'939'341 1.28 (110'000) 31.03.2013 Investment Advisor
ASTON ASSET MANAGEME Multiple Portfolios MF-AGG 1'767'772 1.17 (3'472) 31.05.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'511'945 1 (21'408) 31.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'467'674 0.97 20'900 31.03.2013 Investment Advisor
DREMAN VALUE MANAGEM DREMAN VALUE MANAGEM 13F 1'390'676 0.92 (14'164) 31.03.2013 Investment Advisor
CARLSON CAPITAL LP CARLSON CAPITAL LP 13F 1'200'000 0.79 1'200'000 31.03.2013 Hedge Fund Manager
INTREPID CAPITAL MAN INTREPID CAPITAL MAN 13F 1'198'545 0.79 - 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 1'134'677 0.75 (19'831) 31.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 1'117'492 0.74 393'712 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'109'882 0.73 (151'875) 31.03.2013 Pension Fund (ERISA)
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
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 986'026 0.65 22'621 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP underperform 1 D 10 12 month 28.06.2013
Deutsche Bank JORGE M BERISTAIN hold 3 M 12 12 month 28.06.2013
Cowen and Company ADAM P GRAF market perform 3 M 10 12 month 26.06.2013
Credit Suisse RALPH M PROFITI neutral 3 D 14 Not Provided 25.06.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 19.06.2013
Salman Partners DAVID WEST buy 5 M 19 12 month 19.06.2013
TD Securities DANIEL EARLE hold 3 M 16 12 month 19.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT neutral 3 M 17 Not Provided 17.06.2013
JPMorgan JOHN BRIDGES underweight 1 M 19 6 month 06.06.2013
EVA Dimensions CRAIG STERLING overweight 5 M #N/A N/A Not Provided 22.05.2013
Raymond James BRAD HUMPHREY outperform 5 M 21 12 month 15.05.2013
Scotia Capital TREVOR TURNBULL sector outperform 5 M 16 12 month 15.05.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 14 12 month 14.05.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 M 20 Not Provided 14.05.2013
CIBC World Markets ARNOLD VAN GRAAN sector perform 3 M 19 Not Provided 11.04.2013
Holdings By:
Pan American Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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,
the La Guitarra Silver Mine, and Del Toro Silver Mine.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (09.11.2012) 24.20
52-Week Low (26.06.2013) 8.81
Daily Volume
10.59
52-Week High % Change -56.24% Dividend Yield -
52-Week Low % Change 20.20% Beta 1.17
% 52 Week Price Range High/Low 11.57% Equity Float 111.85
Shares Out 31.05.2013 116.9 Short Int 0.86
1'238.20 1 Yr Total Return -26.71%
Total Debt 29.64 YTD Return -47.55%
Preferred Stock 0.0 Adjusted BETA 1.171
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 111.59 Consensus Rating 4.500
Enterprise Value 1'162.92
Average Volume 5 Day 1'537'139
AG US EQUITY YTD Change - Average Volume 30 Day 1'297'909
AG US EQUITY YTD % CHANGE - Average Volume 3 Month 1'271'895
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
41.8 52.4 117.9 245.5 247.2 248.1 256.4 319.7 474.3 - -
3.30x 6.36x 11.66x 6.93x 9.19x 27.16x 32.01x 3.86x 2.26x - -
2.3 11.7 53.4 156.2 135.1 157.7 132.3 162.4 247.8 - -
59.08x 28.43x 25.73x 10.89x 16.82x 10.69x 13.74x 7.16x 4.69x - -
(4.9) 5.6 35.1 103.6 88.9 106.1 89.1 106.2 175.0 - -
- - - - - 0.00x 0.00x 14.37x 8.78x 12.23x 10.27x
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 13.40% Short-Term Rating -
Return on Common Equity 17.73%
Return on Capital 17.25% EBITDA/Interest Exp. 58.92
Asset Turnover 0.39% (EBITDA-Capex)/Interest Exp. -17.45
Net Debt/EBITDA -0.57
Gross Margin 57.5% Total Debt/EBITDA 0.26
EBITDA Margin 51.6%
EBIT Margin 40.3% 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 0.54
Quick Ratio 2.29 Accounts receivable turnover-days 24.87
Debt to Assets 3.65% Inventory Days 66.83
Tot Debt to Common Equity 4.99% Accounts Payable Turnover Day 78.63
Accounts Receivable Turnover 14.68 Cash Conversion Cycle 23.35
Inventory Turnover 5.46
Fiscal Year Ended
First Majestic Silver CorpPrice/Volume
Valuation Analysis
2'422'044.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 8'250'379 7.06 251'339 28.06.2013 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 3'871'362 3.31 (159'106) 31.03.2013 Investment Advisor
NEUMEYER KEITH n/a SEDI 3'126'000 2.67 150'000 19.11.2012 n/a
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'550'000 2.18 2'550'000 31.03.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 2'462'160 2.11 (181'475) 31.03.2013 Investment Advisor
BARING INTERNATIONAL BARING INTERNATIONAL 13F 2'154'471 1.84 (122'348) 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 1'556'516 1.33 158'465 31.03.2013 Bank
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'203'343 1.03 19'400 31.03.2013 Pension Fund (ERISA)
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'127'680 0.96 31'000 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'095'918 0.94 9'418 31.03.2013 Investment Advisor
POLAR SECURITIES INC POLAR SECURITIES INC 13F 1'034'662 0.88 - 31.03.2013 Hedge Fund Manager
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 953'685 0.82 (378'403) 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 777'102 0.66 777'102 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 700'000 0.6 25'000 28.03.2013 Investment Advisor
CLAYMORE INVESTMENTS Multiple Portfolios MF-AGG 689'593 0.59 - 31.12.2012 Investment Advisor
INVESCO LTD n/a ULT-AGG 663'271 0.57 (231'913) 28.06.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 659'529 0.56 71'372 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 636'734 0.54 - 31.12.2012 Government
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 620'900 0.53 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP outperform 5 U 12 12 month 28.06.2013
Cowen and Company ADAM P GRAF outperform 5 M 14 12 month 26.06.2013
TD Securities DANIEL EARLE buy 5 M 16 12 month 19.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT buy 5 M 17 Not Provided 17.06.2013
Casimir Capital STUART MCDOUGALL buy 5 M 23 Not Provided 17.06.2013
Raymond James CHRIS THOMPSON outperform 5 M 21 12 month 14.06.2013
Cormark Securities Inc. GRAEME JENNINGS buy 5 M 21 12 month 29.05.2013
EVA Dimensions CRAIG STERLING underweight 1 M #N/A N/A Not Provided 22.05.2013
Holdings By:
First Majestic Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Coeur Mining, Inc., 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: 03/yy
52-Week High (01.11.2012) 31.97
52-Week Low (26.06.2013) 11.48
Daily Volume
13.3
52-Week High % Change -58.40% Dividend Yield 0.00
52-Week Low % Change 15.85% Beta 1.28
% 52 Week Price Range High/Low 8.88% Equity Float 100.83
Shares Out 08.05.2013 101.5 Short Int 3.55
1'349.64 1 Yr Total Return -24.26%
Total Debt 124.55 YTD Return -45.93%
Preferred Stock 0.0 Adjusted BETA 1.276
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 153.50 Consensus Rating 3.556
Enterprise Value 1'368.80
Average Volume 5 Day 2'092'718
CDE US EQUITY YTD Change - Average Volume 30 Day 1'733'643
CDE US EQUITY YTD % CHANGE - Average Volume 3 Month 1'812'073
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
170.9 300.4 515.5 1'021.2 895.5 1'026.1 862.7 848.7 998.2 218.0 221.0
5.09x 5.42x 4.98x 2.05x 2.45x 8.11x 9.12x 1.51x 1.11x 5.97x 5.99x
0.3 78.2 218.7 531.3 378.2 539.5 342.9 317.8 428.0 78.1 72.2
2750.95x 20.82x 11.74x 3.95x 5.80x 3.90x 4.99x 4.31x 3.20x 4.60x 4.78x
(0.6) (27.1) (91.3) 93.5 48.7 85.0 57.0 46.8 106.4 18.0 10.7
- - - 22.35x 41.69x 24.22x 27.74x 31.07x 11.99x 20.52x 15.78x
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 1.71% Short-Term Rating -
Return on Common Equity 2.63%
Return on Capital 2.91% EBITDA/Interest Exp. 13.10
Asset Turnover 0.26% (EBITDA-Capex)/Interest Exp. 8.08
Net Debt/EBITDA 0.06
Gross Margin 24.6% Total Debt/EBITDA 1.09
EBITDA Margin 39.7%
EBIT Margin 14.6% Total Debt/Equity 5.7%
Net Income Margin 5.4% Total Debt/Capital 5.4%
Asset Turnover 0.26
Current Ratio 1.70 Net Fixed Asset Turnover 0.33
Quick Ratio 0.79 Accounts receivable turnover-days 32.36
Debt to Assets 3.87% Inventory Days 91.49
Tot Debt to Common Equity 5.67% Accounts Payable Turnover Day 30.34
Accounts Receivable Turnover 11.28 Cash Conversion Cycle 77.12
Inventory Turnover 3.99
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
Coeur Mining IncPrice/Volume
Valuation Analysis
3'887'630.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 6'405'227 6.31 239'786 28.06.2013 Investment Advisor
GUGGENHEIM n/a ULT-AGG 5'542'767 5.46 3'168'130 31.05.2013 Unclassified
BLACKROCK n/a ULT-AGG 5'209'001 5.13 693 27.06.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 4'876'942 4.81 (420'427) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 4'809'149 4.74 364'532 31.03.2013 Investment Advisor
DONALD SMITH & CO IN DONALD SMITH & CO IN 13F 4'641'704 4.57 3'039'676 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 3'163'120 3.12 (18'288) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'963'100 2.92 560'000 31.03.2013 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 2'810'872 2.77 (256'964) 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'892'202 1.86 34'861 31.03.2013 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 1'588'191 1.57 (207'650) 30.04.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 1'278'258 1.26 - 31.03.2013 Hedge Fund Manager
DREMAN VALUE MANAGEM DREMAN VALUE MANAGEM 13F 1'251'341 1.23 (14'548) 31.03.2013 Investment Advisor
AMERIPRISE FINANCIAL AMERIPRISE FINANCIAL 13F 1'194'069 1.18 197'959 31.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 942'523 0.93 60'718 30.04.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 838'500 0.83 (341'000) 31.03.2013 Hedge Fund Manager
PANAGORA ASSET MANAG PANAGORA ASSET MANAG 13F 791'096 0.78 516'832 31.03.2013 Investment Advisor
TWO SIGMA INVESTMENT TWO SIGMA INVESTMENT 13F 699'487 0.69 668'603 31.03.2013 Hedge Fund Manager
TEXAS TEACHER RETIRE TEACHER RETIREMENT S 13F 670'115 0.66 145'492 31.03.2013 Pension Fund (ERISA)
CREDIT SUISSE AG n/a ULT-AGG 660'625 0.65 436'039 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP underperform 1 D 10 12 month 28.06.2013
Deutsche Bank JORGE M BERISTAIN buy 5 M 18 12 month 28.06.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 15 12 month 26.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT neutral 3 M 17 Not Provided 26.06.2013
Global Hunter Securities JEFF WRIGHT accumulate 4 M 21 12 month 26.06.2013
Sterne, Agee & Leach MICHAEL S DUDAS buy 5 M 28 12 month 19.06.2013
JPMorgan JOHN BRIDGES neutral 3 M 19 6 month 06.06.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 27.05.2013
Cormark Securities Inc. GRAEME JENNINGS market perform 3 M 21 12 month 10.05.2013
Holdings By:
Coeur Mining Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (05.07.2012) 8.62
52-Week Low (27.06.2013) 4.01
Daily Volume
4.37
52-Week High % Change -49.30% Dividend Yield -
52-Week Low % Change 8.98% Beta 0.84
% 52 Week Price Range High/Low 7.81% Equity Float 245.99
Shares Out 31.05.2013 246.9 Short Int 12.86
1'078.76 1 Yr Total Return -45.08%
Total Debt 188.57 YTD Return -46.22%
Preferred Stock 0.0 Adjusted BETA 0.837
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 603.40 Consensus Rating 3.500
Enterprise Value 981.30
Average Volume 5 Day 3'441'227
AUQ US EQUITY YTD Change - Average Volume 30 Day 2'641'640
AUQ US EQUITY YTD % CHANGE - Average Volume 3 Month 2'865'415
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
212.5 206.8 238.3 83.9 163.6 175.3 185.8 284.5 374.5 54.8 69.6
3.30x 6.86x 4.42x 27.78x 11.67x 47.64x 42.87x 3.59x 2.74x 11.06x 13.30x
53.3 70.5 106.6 2.3 52.3 83.7 53.2 131.6 200.2 19.9 38.3
13.17x 20.14x 9.87x 1003.29x 36.48x 0.00x 27.39x 7.46x 4.90x 6.23x 5.33x
38.7 8.2 (134.7) 176.9 33.2 166.3 50.2 49.4 77.2 4.5 14.4
- - - - - 0.00x 0.00x 19.77x 12.31x 17.41x 14.05x
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 1.72% Short-Term Rating -
Return on Common Equity 2.35%
Return on Capital - EBITDA/Interest Exp. 23.39
Asset Turnover - (EBITDA-Capex)/Interest Exp. -142.03
Net Debt/EBITDA -1.83
Gross Margin 43.2% Total Debt/EBITDA 3.23
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
5'959'539.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 34'465'703 13.96 14'538'023 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 22'916'069 9.28 (2'190'375) 28.06.2013 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 12'665'571 5.13 11'536'239 31.03.2013 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 11'974'228 4.85 (669'511) 31.05.2013 Investment Advisor
DONALD SMITH & CO IN DONALD SMITH & CO IN 13F 11'173'993 4.53 2'838'940 31.03.2013 Investment Advisor
HEARTLAND ADVISORS I HEARTLAND ADVISORS I 13F 8'574'011 3.47 (3'159'581) 31.03.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 7'954'202 3.22 (359'998) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 7'469'100 3.03 - 31.03.2013 Investment Advisor
RIVER ROAD ASSET MAN RIVER ROAD ASSET MAN 13F 6'556'114 2.66 6'556'114 31.03.2013 Investment Advisor
ASTON ASSET MANAGEME Multiple Portfolios MF-AGG 5'523'501 2.24 593'007 31.05.2013 Investment Advisor
OPUS CAPITAL GROUP L OPUS CAPITAL GROUP L 13F 4'478'647 1.81 1'610'951 31.03.2013 Investment Advisor
HEXAVEST INC HEXAVEST INC 13F 3'895'355 1.58 (1'586'686) 31.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 3'862'659 1.56 371'532 31.03.2013 Holding Company
MAK CAPITAL ONE LLC MAK CAPITAL ONE LLC 13F 3'767'019 1.53 3'767'019 31.03.2013 Hedge Fund Manager
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 3'677'730 1.49 (11'562'015) 31.03.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 3'493'185 1.42 - 31.03.2013 Hedge Fund Manager
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 3'444'100 1.4 - 31.03.2013 Hedge Fund Manager
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 3'207'165 1.3 (8'592'660) 31.03.2013 Investment Advisor
NWQ INVESTMENT MANAG NWQ INVESTMENT MANAG 13F 3'186'064 1.29 (730'412) 31.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 2'867'697 1.16 (1'925'861) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
TD Securities STEVEN J GREEN reduce 2 M 4 12 month 27.06.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 5 Not Provided 26.06.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 6 12 month 26.06.2013
Raymond James Phil Russo market perform 3 M 7 12 month 26.06.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 7 12 month 26.06.2013
Desjardins Securities ADAM MELNYK buy 5 M 7 Not Provided 26.06.2013
Dundee Securities Corp JOE FAZZINI neutral 3 M 6 Not Provided 26.06.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 M 9 12 month 26.06.2013
Credit Suisse ANITA SONI neutral 3 M 6 Not Provided 25.06.2013
EVA Dimensions CRAIG STERLING hold 3 M #N/A N/A Not Provided 22.06.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 8 18 month 09.06.2013
GMP CHELSEA HAMILTON buy 5 M 9 Not Provided 29.05.2013
Macquarie TONY LESIAK outperform 5 M 6 12 month 17.05.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 M 6 12 month 10.05.2013
Holdings By:
AuRico Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (27.06.2013) 5.40
Daily Volume
6.48
52-Week High % Change -84.20% Dividend Yield 0.00
52-Week Low % Change 20.00% Beta 0.93
% 52 Week Price Range High/Low 3.03% Equity Float 95.83
Shares Out 31.05.2013 103.9 Short Int 4.37
673.19 1 Yr Total Return -77.17%
Total Debt 525.19 YTD Return -78.49%
Preferred Stock 0.0 Adjusted BETA 0.934
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 347.05 Consensus Rating 3.500
Enterprise Value 1'011.70
Average Volume 5 Day 5'113'967
ANV US EQUITY YTD Change - Average Volume 30 Day 3'404'562
ANV US EQUITY YTD % CHANGE - Average Volume 3 Month 3'215'585
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
43.2 43.2 130.9 152.0 214.6 159.3 224.5 347.8 588.2 72.6 89.1
- - 15.41x 16.34x 13.43x 69.10x 47.39x 2.85x 1.91x 11.55x 10.45x
(0.8) (0.8) 30.5 48.8 95.5 64.8 97.9 152.5 279.2 24.9 31.9
- - 66.12x 50.94x 30.19x 42.00x 18.56x 6.63x 3.62x 7.85x 6.90x
8.5 8.5 34.1 36.7 47.7 48.6 44.5 84.9 131.5 13.8 18.1
- - 64.17x 77.21x 55.90x 62.56x 30.25x 9.72x 4.84x 6.11x 4.83x
EBITDA 95.46 Long-Term Rating Date 07.06.2012
EBIT 80.87 Long-Term Rating B
Operating Margin 37.69% Long-Term Outlook NEG
Pretax Margin 29.90% Short-Term Rating Date -
Return on Assets 4.47% Short-Term Rating -
Return on Common Equity 7.35%
Return on Capital 6.66% EBITDA/Interest Exp. 3.69
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -6.45
Net Debt/EBITDA 3.46
Gross Margin 49.0% Total Debt/EBITDA 5.94
EBITDA Margin 43.6%
EBIT Margin 36.3% 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 0.46
Quick Ratio 4.00 Accounts receivable turnover-days 26.22
Debt to Assets 42.43% Inventory Days 177.50
Tot Debt to Common Equity 84.71% Accounts Payable Turnover Day 95.94
Accounts Receivable Turnover 13.92 Cash Conversion Cycle 76.54
Inventory Turnover 2.06
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
11'451'181.00
Current Price (7/dd/yy) Market Data
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01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WELLINGTON MANAGEMEN n/a Co File 14'514'762 13.97 9'663'670 31.05.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 7'266'752 6.99 128'651 28.06.2013 Investment Advisor
BANK OF NOVA SCOTIA n/a ULT-AGG 5'552'375 5.34 - 18.04.2013 Bank
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 4'851'092 4.67 874'964 31.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 4'618'576 4.45 (88'198) 31.03.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 4'534'307 4.36 (1'437'400) 31.03.2013 Investment Advisor
PESCIO CARL A n/a Form 4 4'453'800 4.29 50'000 18.06.2013 n/a
GUGGENHEIM n/a ULT-AGG 4'451'595 4.28 2'693'449 31.05.2013 Unclassified
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 4'264'100 4.1 9'400 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 3'054'914 2.94 (174'019) 27.06.2013 Investment Advisor
UNITED SERVICES AUTO UNITED SERVICES AUTO 13F 2'596'885 2.5 188'152 31.03.2013 Investment Advisor
BUCHAN ROBERT M n/a Form 4 2'512'474 2.42 - 31.05.2013 n/a
STATE STREET n/a ULT-AGG 2'464'979 2.37 106'871 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'189'300 2.11 331'500 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 2'048'400 1.97 (1'176'615) 31.03.2013 Investment Advisor
TACONIC CAPITAL ADVI TACONIC CAPITAL ADVI 13F 2'000'000 1.93 2'000'000 31.03.2013 Hedge Fund Manager
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'768'623 1.7 (400'400) 31.03.2013 Hedge Fund Manager
PAULSON & CO PAULSON & CO 13F 1'502'184 1.45 (7'037) 31.03.2013 Hedge Fund Manager
COLUMBIA WANGER ASSE COLUMBIA WANGER ASSE 13F 1'322'000 1.27 (122'000) 31.03.2013 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 1'198'749 1.15 275'051 31.05.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 19 12 month 26.06.2013
RBC Capital Markets SAM CRITTENDEN sector perform 3 M 14 12 month 24.06.2013
EVA Dimensions CRAIG STERLING buy 5 U #N/A N/A Not Provided 20.06.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 17 12 month 17.06.2013
Cormark Securities Inc. MIKE KOZAK speculative buy 4 M 16 12 month 29.05.2013
GMP ANDREW MIKITCHOOK buy 5 M 10 Not Provided 29.05.2013
Macquarie MICHAEL GRAY underperform 1 M 7 12 month 17.05.2013
CIBC World Markets CHITIMUKULU MUSONDA sector perform 3 M 15 Not Provided 02.05.2013
BMO Capital Markets BRIAN QUAST underperform 1 M 11 Not Provided 01.05.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 12 12 month 01.05.2013
Holdings By:
Allied Nevada Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 6.92
52-Week Low (27.06.2013) 2.65
Daily Volume
2.98
52-Week High % Change -56.96% Dividend Yield 2.10
52-Week Low % Change 12.45% Beta 1.34
% 52 Week Price Range High/Low 7.72% Equity Float 283.08
Shares Out 07.05.2013 285.2 Short Int 28.45
849.79 1 Yr Total Return -36.76%
Total Debt 17.50 YTD Return -48.69%
Preferred Stock 0.0 Adjusted BETA 1.338
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 190.98 Consensus Rating 3.444
Enterprise Value 711.75
Average Volume 5 Day 9'039'584
HL US EQUITY YTD Change - Average Volume 30 Day 9'191'715
HL US EQUITY YTD % CHANGE - Average Volume 3 Month 7'680'246
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
204.7 312.5 418.8 477.6 321.1 432.4 306.4 480.0 665.0 119.5 146.5
3.08x 4.39x 6.28x 2.59x 4.64x 11.93x 17.19x 2.40x 1.66x 8.90x 7.70x
15.3 132.3 211.3 254.7 92.9 210.2 73.6 175.6 317.0 44.9 61.1
41.21x 10.38x 12.44x 4.85x 16.03x 5.01x 13.43x 4.05x 2.25x 3.23x 3.21x
(66.6) 67.8 49.0 151.2 15.0 120.4 13.5 36.3 107.1 3.5 9.0
- 34.33x 62.56x 12.16x 83.29x 14.00x 32.92x 29.50x 10.53x 18.17x 12.63x
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 0.97% Short-Term Rating -
Return on Common Equity 1.13%
Return on Capital 1.31% EBITDA/Interest Exp. 38.28
Asset Turnover 0.22% (EBITDA-Capex)/Interest Exp. -8.32
Net Debt/EBITDA -1.98
Gross Margin 44.7% Total Debt/EBITDA 0.31
EBITDA Margin 24.0%
EBIT Margin 6.5% Total Debt/Equity 1.5%
Net Income Margin 4.7% Total Debt/Capital 1.5%
Asset Turnover 0.22
Current Ratio 2.98 Net Fixed Asset Turnover 0.31
Quick Ratio 2.20 Accounts receivable turnover-days 10.59
Debt to Assets 1.27% Inventory Days 57.05
Tot Debt to Common Equity 1.54% Accounts Payable Turnover Day 63.06
Accounts Receivable Turnover 34.48 Cash Conversion Cycle -4.24
Inventory Turnover 6.40
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
11'906'110.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 20'163'923 7.07 491'092 28.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 17'197'314 6.03 1'322'490 27.06.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 15'111'549 5.3 (139'843) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 10'875'818 3.81 (1'098'945) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 5'454'844 1.91 913'185 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 4'997'041 1.75 (97'116) 31.03.2013 Investment Advisor
CS MCKEE LP C S MCKEE LP 13F 4'173'590 1.46 1'290'990 31.03.2013 Investment Advisor
KESTREL INVESTMENT M KESTREL INVESTMENT M 13F 4'127'550 1.45 130'300 31.03.2013 Investment Advisor
CREDIT SUISSE AG n/a ULT-AGG 3'911'135 1.37 945'081 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 3'247'355 1.14 (497'214) 31.03.2013 Investment Advisor
LRI-FUND MANAGEMENT Multiple Portfolios MF-AGG 2'800'000 0.98 - 31.05.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 2'728'961 0.96 (42'581) 31.03.2013 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
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 - 31.03.2013 Pension Fund (ERISA)
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 1'771'132 0.62 (155'431) 31.03.2013 Investment Advisor
CITIGROUP INCORPORAT n/a ULT-AGG 1'698'286 0.6 1'054'728 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank JORGE M BERISTAIN hold 3 M 4 12 month 28.06.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 4 Not Provided 24.06.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 6 12 month 24.06.2013
EVA Dimensions CRAIG STERLING hold 3 U #N/A N/A Not Provided 21.06.2013
Sterne, Agee & Leach MICHAEL S DUDAS neutral 3 M #N/A N/A Not Provided 19.06.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 5 12 month 17.06.2013
JPMorgan JOHN BRIDGES neutral 3 M 6 6 month 06.06.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 5 12 month 13.05.2013
Holdings By:
Hecla Mining Co ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (07.11.2012) 4.98
52-Week Low (26.06.2013) 2.65
Daily Volume
2.95
52-Week High % Change -40.76% Dividend Yield -
52-Week Low % Change 11.32% Beta 1.07
% 52 Week Price Range High/Low 12.88% Equity Float 194.77
Shares Out 31.05.2013 199.0 Short Int 1.09
587.07 1 Yr Total Return -5.49%
Total Debt 0.00 YTD Return -29.32%
Preferred Stock 0.0 Adjusted BETA 1.069
Minority Interest 143.5 Analyst Recs 13
Cash and Equivalents 396.40 Consensus Rating 4.231
Enterprise Value 404.27
Average Volume 5 Day 1'067'729
NSU US EQUITY YTD Change - Average Volume 30 Day 1'856'419
NSU US EQUITY YTD % CHANGE - Average Volume 3 Month 1'259'718
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 0.0 0.0 547.8 566.0 646.6 487.8 291.0 667.5 61.4 34.7
- - - 1.60x 1.05x 5.21x 4.68x 1.07x 0.15x 6.44x 11.28x
(6.1) (4.9) (12.2) 429.2 426.5 509.2 347.4 164.3 448.0 21.4 14.1
- - - 2.04x 1.40x 1.15x 1.68x 2.46x 0.90x 1.75x 1.21x
(5.7) (4.3) (13.3) 147.1 145.3 176.5 114.6 54.4 161.6 4.3 2.8
- - - - - 0.00x 0.00x 11.66x 3.53x 7.76x 5.21x
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 14.32% Short-Term Rating -
Return on Common Equity 19.57%
Return on Capital 27.26% EBITDA/Interest Exp. 683.43
Asset Turnover 0.61% (EBITDA-Capex)/Interest Exp. 544.86
Net Debt/EBITDA -0.96
Gross Margin 89.9% Total Debt/EBITDA 0.00
EBITDA Margin 71.2%
EBIT Margin 66.0% Total Debt/Equity 0.0%
Net Income Margin 25.7% Total Debt/Capital 0.0%
Asset Turnover 0.61
Current Ratio 6.56 Net Fixed Asset Turnover 1.50
Quick Ratio 5.92 Accounts receivable turnover-days 34.31
Debt to Assets 0.00% Inventory Days 339.31
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 65.11
Accounts Receivable Turnover 10.64 Cash Conversion Cycle 235.97
Inventory Turnover 1.08
Fiscal Year Ended
Nevsun Resources LtdPrice/Volume
Valuation Analysis
1'145'504.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PRUDENTIAL PLC n/a ULT-AGG 38'500'000 19.35 - 31.03.2013 Unclassified
BLACKROCK n/a ULT-AGG 35'394'658 17.79 - 27.06.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 19'717'500 9.91 - 30.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 14'062'861 7.07 364'628 31.03.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 5'077'040 2.55 613'900 31.03.2013 Investment Advisor
SCHRODER INVESTMENT SCHRODER INVESTMENT 13F 4'239'444 2.13 124'000 31.03.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 3'054'900 1.54 51'600 31.03.2013 Investment Advisor
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 2'652'816 1.33 (409'688) 31.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'922'020 0.97 43'700 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'635'201 0.82 (248'400) 31.03.2013 Pension Fund (ERISA)
DAVIS CLIFFORD T n/a SEDI 1'553'219 0.78 (50'100) 19.11.2012 n/a
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 1'433'700 0.72 390'400 31.03.2013 Hedge Fund Manager
CLARKE JOHN A n/a SEDI 1'367'000 0.69 - 31.12.2012 n/a
NORGES BANK NORGES BANK 13F 1'233'881 0.62 - 31.12.2012 Government
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'119'275 0.56 (276'702) 31.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'104'711 0.56 60'000 31.03.2013 Investment Advisor
MCKINLEY CAPITAL MAN MCKINLEY CAPITAL MAN 13F 1'094'380 0.55 1'094'380 31.03.2013 Investment Advisor
AMERICAN CENTURY COM AMERICAN CENTURY COM 13F 1'091'342 0.55 11'479 31.03.2013 Investment Advisor
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 1'031'500 0.52 24'900 31.03.2013 Investment Advisor
MORGAN STANLEY n/a ULT-AGG 1'028'199 0.52 763'003 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cormark Securities Inc. CLIFF HALE-SANDERS buy 5 M 5 12 month 25.06.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 22.06.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 U 5 12 month 19.06.2013
TD Securities STEVEN J GREEN hold 3 M 4 12 month 19.06.2013
PI Financial Corp. ALEEM LADAK buy 5 M 6 12 month 19.06.2013
Haywood Securities Inc. STEFAN IOANNOU buy 5 M 4 12 month 18.06.2013
RBC Capital Markets PATRICK MORTON sector perform 3 M 4 12 month 17.06.2013
Raymond James ADAM LOW outperform 5 M 4 12 month 17.06.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 4 12 month 17.06.2013
Scotia Capital MARK TURNER sector outperform 5 N 5 12 month 13.06.2013
GMP ANDREW MIKITCHOOK hold 3 M 4 Not Provided 29.05.2013
Paradigm Capital Inc DAVID DAVIDSON buy 5 M 8 12 month 13.05.2013
Holdings By:
Nevsun Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (19.09.2012) 5.37
52-Week Low (24.12.2012) 3.19
Daily Volume
3.85
52-Week High % Change -28.31% Dividend Yield -
52-Week Low % Change 20.69% Beta 1.01
% 52 Week Price Range High/Low 30.28% Equity Float -
Shares Out 31.05.2013 164.8 Short Int 3.36
634.63 1 Yr Total Return -
Total Debt 0.00 YTD Return -
Preferred Stock 0.0 Adjusted BETA 1.006
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 204.71 Consensus Rating 3.000
Enterprise Value 478.28
Average Volume 5 Day 0
AZK US EQUITY YTD Change - Average Volume 30 Day 427'832
AZK US EQUITY YTD % CHANGE - Average Volume 3 Month 644'519
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
144.5 175.6 178.7 260.0 223.6 269.5 210.1 - - - -
4.07x 3.65x 5.82x 2.31x 1.61x 9.71x 10.01x - - - -
53.5 87.5 69.8 124.9 92.2 134.3 77.9 - - - -
10.98x 7.32x 14.90x 4.81x 3.90x 4.46x 6.98x - - - -
4.9 36.7 17.2 43.9 31.8 49.7 20.6 - - - -
- - - - - 0.00x 0.00x 67.50x 21.32x - -
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 4.76% Short-Term Rating -
Return on Common Equity 5.91%
Return on Capital 6.03% EBITDA/Interest Exp. 107.74
Asset Turnover 0.49% (EBITDA-Capex)/Interest Exp. 19.32
Net Debt/EBITDA -2.43
Gross Margin 41.0% Total Debt/EBITDA 0.00
EBITDA Margin 37.1%
EBIT Margin 18.6% Total Debt/Equity 0.0%
Net Income Margin 14.2% Total Debt/Capital 0.0%
Asset Turnover 0.49
Current Ratio 7.30 Net Fixed Asset Turnover 1.07
Quick Ratio 6.49 Accounts receivable turnover-days 19.33
Debt to Assets 0.00% Inventory Days 49.19
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 82.16
Accounts Receivable Turnover 18.89 Cash Conversion Cycle 14.19
Inventory Turnover 7.42
Fiscal Year Ended
Aurizon Mines LtdPrice/Volume
Valuation Analysis
5'181'137.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HECLA MINING CO n/a Research 164'838'394 100 - 06.06.2013 Corporation
ALAMOS GOLD INC n/a 13D 26'507'283 16.08 - 19.03.2013 Other
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 5'855'560 3.55 104'300 31.03.2013 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 4'647'300 2.82 (159'200) 31.03.2013 Hedge Fund Manager
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 4'273'700 2.59 4'273'700 31.03.2013 Investment Advisor
ALPINE ASSOCIATES AD ALPINE ASSOCIATES AD 13F 3'842'000 2.33 3'842'000 31.03.2013 Hedge Fund Manager
CAISSE DE DEPOT ET P Multiple Portfolios MF-AGG 2'222'430 1.35 - 31.12.2012 Investment Advisor
HARVARD MANAGEMENT C HARVARD MANAGEMENT C 13F 1'707'800 1.04 1'707'800 31.03.2013 Endowment
LONGFELLOW INVESTMEN LONGFELLOW INVESTMEN 13F 1'674'818 1.02 1'674'818 31.03.2013 Investment Advisor
TOUCHSTONE ADVISORS Multiple Portfolios MF-AGG 1'655'218 1 1'655'218 28.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'584'910 0.96 45'000 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'304'320 0.79 (1'626'815) 31.03.2013 Pension Fund (ERISA)
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
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'121'404 0.68 (1'183'046) 31.03.2013 Hedge Fund Manager
UBS n/a ULT-AGG 1'093'674 0.66 1'062'194 31.03.2013 Unclassified
HALL DAVID P n/a SEDI 990'342 0.6 5'000 04.04.2012 n/a
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 962'464 0.58 12'062 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 955'334 0.58 - 31.12.2012 Government
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 929'694 0.56 (173'619) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
Mackie Research Capital Corp. RYAN HANLEY tender #N/A N/A M 5 Not Provided 16.05.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 5 12 month 04.03.2013
Holdings By:
Aurizon Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 16.92
52-Week Low (27.06.2013) 5.57
Daily Volume
6.34
52-Week High % Change -62.53% Dividend Yield -
52-Week Low % Change 13.82% Beta 1.04
% 52 Week Price Range High/Low 6.78% Equity Float 80.57
Shares Out 31.05.2013 80.8 Short Int 3.13
511.98 1 Yr Total Return -43.59%
Total Debt 135.81 YTD Return -57.42%
Preferred Stock 0.0 Adjusted BETA 1.037
Minority Interest 0.0 Analyst Recs 13
Cash and Equivalents 366.95 Consensus Rating 3.615
Enterprise Value 230.36
Average Volume 5 Day 1'495'357
SSRI US EQUITY YTD Change - Average Volume 30 Day 1'316'658
SSRI US EQUITY YTD % CHANGE - Average Volume 3 Month 1'367'807
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 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 5.4 112.3 147.8 241.1 126.2 251.8 188.3 203.7 45.6 46.6
- 307.12x 18.82x 6.19x 4.03x 40.61x 13.14x 1.31x 2.19x 5.44x 5.75x
(17.9) (17.7) 5.3 39.4 54.6 20.7 65.0 34.7 45.0 (5.9) (7.3)
- - 400.55x 23.24x 17.81x 50.61x 8.77x 6.65x 5.11x - -
(5.6) (13.2) 338.5 80.1 54.8 69.1 51.3 (23.6) (14.2) (8.0) (1.1)
- - - - - 0.00x 0.00x - - - -
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 3.78% Short-Term Rating -
Return on Common Equity 4.86%
Return on Capital - EBITDA/Interest Exp. 2.23
Asset Turnover 0.19% (EBITDA-Capex)/Interest Exp. -0.30
Net Debt/EBITDA -4.33
Gross Margin 19.1% Total Debt/EBITDA 2.77
EBITDA Margin 25.8%
EBIT Margin 7.9% 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 99.30
Debt to Assets 10.31% Inventory Days 173.25
Tot Debt to Common Equity 12.84% Accounts Payable Turnover Day 128.71
Accounts Receivable Turnover 3.68 Cash Conversion Cycle 148.18
Inventory Turnover 2.11
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
Silver Standard Resources IncPrice/Volume
Valuation Analysis
1'545'112.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 6'782'680 8.4 (1'486'526) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'716'543 7.08 141'978 28.06.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'564'858 4.41 592'287 30.04.2013 Investment Advisor
VINIK ASSET MANAGEME VINIK ASSET MANAGEME 13F 2'504'177 3.1 722'770 31.03.2013 Hedge Fund Manager
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 1'841'793 2.28 747'006 31.03.2013 Investment Advisor
AXA n/a ULT-AGG 1'508'237 1.87 8'300 31.03.2013 Investment Advisor
ASTON ASSET MANAGEME Multiple Portfolios MF-AGG 1'390'811 1.72 757'156 31.05.2013 Investment Advisor
NEWGATE CAPITAL MANA NEWGATE CAPITAL MANA 13F 1'283'256 1.59 302'640 31.03.2013 Investment Advisor
CARLSON CAPITAL LP CARLSON CAPITAL LP 13F 1'127'900 1.4 923'744 31.03.2013 Hedge Fund Manager
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'076'357 1.33 (8'883) 31.03.2013 Investment Advisor
BNP PARIBAS INV PART n/a ULT-AGG 915'000 1.13 (75'000) 28.02.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 811'912 1.01 288'500 31.03.2013 Pension Fund (ERISA)
UBS n/a ULT-AGG 804'279 1 88'666 31.03.2013 Unclassified
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 778'570 0.96 10'800 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 720'000 0.89 - 28.03.2013 Investment Advisor
ATLANTIC INVESTMENT ATLANTIC INVESTMENT 13F 697'830 0.86 697'830 31.03.2013 Investment Advisor
LRI-FUND MANAGEMENT Multiple Portfolios MF-AGG 696'000 0.86 15'000 31.05.2013 Investment Advisor
NEUFLIZE OBC ASSET M Multiple Portfolios MF-AGG 618'576 0.77 - 30.12.2011 Investment Advisor
NORGES BANK NORGES BANK 13F 498'001 0.62 - 31.12.2012 Government
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 493'683 0.61 9'039 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Deutsche Bank JORGE M BERISTAIN hold 3 M 7 12 month 28.06.2013
Cowen and Company ADAM P GRAF outperform 5 M 10 12 month 26.06.2013
Credit Suisse RALPH M PROFITI neutral 3 M 9 Not Provided 25.06.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 12 Not Provided 24.06.2013
Salman Partners ASH GUGLANI buy 5 M 16 12 month 19.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT neutral 3 M 15 Not Provided 17.06.2013
GMP CHELSEA HAMILTON buy 5 M 14 Not Provided 29.05.2013
EVA Dimensions CRAIG STERLING hold 3 M #N/A N/A Not Provided 22.05.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 17 12 month 13.05.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 10 12 month 09.05.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 9 12 month 09.05.2013
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] |
01.07.2013
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: 03/yy
52-Week High (14.09.2012) 20.34
52-Week Low (28.06.2013) 8.23
Daily Volume
9.43
52-Week High % Change -53.63% Dividend Yield -
52-Week Low % Change 14.58% Beta 0.92
% 52 Week Price Range High/Low 9.91% Equity Float 41.47
Shares Out 31.05.2013 45.6 Short Int 4.77
429.60 1 Yr Total Return -34.92%
Total Debt 0.00 YTD Return -47.52%
Preferred Stock 0.0 Adjusted BETA 0.919
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 52.04 Consensus Rating 4.000
Enterprise Value 408.81
Average Volume 5 Day 680'716
SA US EQUITY YTD Change - Average Volume 30 Day 410'079
SA US EQUITY YTD % CHANGE - Average Volume 3 Month 384'575
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 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) (5.1) (15.0) (16.0) - -
- - - - - 0.00x 0.00x - - - -
10.3 (4.7) 3.3 (20.1) (12.5) (18.3) (14.1) - - - -
- - - - - 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 -5.76% Short-Term Rating -
Return on Common Equity -6.05%
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
767'073.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PAN ATLANTIC BANK n/a PROXY 8'001'232 17.56 - 06.05.2013 Bank
VAN ECK ASSOCIATES C n/a ULT-AGG 6'613'905 14.52 661'363 28.06.2013 Investment Advisor
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 - 31.03.2013 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 - 06.05.2013 n/a
FMR LLC n/a ULT-AGG 601'905 1.32 - 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 572'976 1.26 115'079 31.03.2013 Investment Advisor
FCMI FINANCIAL CORP n/a PROXY 555'000 1.22 - 06.05.2013 Corporation
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 478'467 1.05 (203'241) 31.03.2013 Hedge Fund Manager
FNDTN FOR STUDY OBJ n/a PROXY 425'334 0.93 - 06.05.2013 Other
FIDEURAM GESTIONS SA Multiple Portfolios MF-AGG 385'000 0.85 (30'000) 03.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 344'050 0.76 (465'199) 27.06.2013 Investment Advisor
FOX LOUIS J n/a PROXY 300'750 0.66 - 06.05.2013 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 - 06.05.2013 n/a
NORGES BANK NORGES BANK 13F 235'224 0.52 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 199'794 0.44 21'035 31.03.2013 Investment Advisor
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 167'000 0.37 - 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 28 12 month 26.06.2013
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 22 12 month 03.06.2013
Holdings By:
Seabridge Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (26.06.2013) 2.14
Daily Volume
2.7
52-Week High % Change -49.44% Dividend Yield -
52-Week Low % Change 26.17% Beta 1.22
% 52 Week Price Range High/Low 17.50% Equity Float 92.87
Shares Out 31.05.2013 100.8 Short Int 7.83
272.26 1 Yr Total Return -34.94%
Total Debt 2.07 YTD Return -38.78%
Preferred Stock 0.0 Adjusted BETA 1.219
Minority Interest 0.0 Analyst Recs 0
Cash and Equivalents 20.06 Consensus Rating -
Enterprise Value 272.89
Average Volume 5 Day 567'705
TRX US EQUITY YTD Change - Average Volume 30 Day 481'385
TRX US EQUITY YTD % CHANGE - Average Volume 3 Month 471'574
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
701'476.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 14'700'030 14.58 1'177'305 28.06.2013 Investment Advisor
GEIER GROUP LLC n/a 13G 4'879'743 4.84 (4'801'048) 10.11.2011 Other
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 3'383'846 3.36 (287'350) 31.03.2013 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 533'661 0.53 - 27.06.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 498'912 0.49 131'800 31.03.2013 Pension Fund (ERISA)
VANGUARD GROUP INC Multiple Portfolios MF-AGG 474'292 0.47 60'200 31.03.2013 Investment Advisor
MORROW ROSALIND n/a SEDI 445'065 0.44 15'636 04.06.2013 n/a
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
CITIGROUP INCORPORAT n/a ULT-AGG 287'556 0.29 102'344 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 270'808 0.27 - 28.06.2013 Investment Advisor
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 212'810 0.21 250 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 190'479 0.19 22'792 31.03.2013 Investment Advisor
LUIS VICTORIA n/a 20F 144'045 0.14 - 31.10.2012 n/a
DEUTSCHE BANK AG n/a ULT-AGG 141'479 0.14 (4'090) 31.03.2013 Investment Advisor
VAN TONGEREN STEVEN n/a SEDI 125'103 0.12 440 07.06.2013 n/a
BANK OF AMERICA CORP BANK OF AMERICA 13F 124'831 0.12 27'380 31.03.2013 Investment Advisor
ALTUS CAPITAL INC ALTUS CAPITAL INC 13F 104'500 0.1 56'500 31.03.2013 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] |
01.07.2013
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: 03/yy
52-Week High (16.10.2012) 2.11
52-Week Low (21.06.2013) 0.40
Daily Volume
0.42
52-Week High % Change -80.09% Dividend Yield 0.00
52-Week Low % Change 5.00% Beta 1.12
% 52 Week Price Range High/Low 1.17% Equity Float 257.63
Shares Out 31.05.2013 259.1 Short Int 17.61
108.82 1 Yr Total Return -63.79%
Total Debt 117.48 YTD Return -77.17%
Preferred Stock 0.0 Adjusted BETA 1.124
Minority Interest (2.0) Analyst Recs 10
Cash and Equivalents 78.88 Consensus Rating 2.200
Enterprise Value 155.60
Average Volume 5 Day 8'557'640
GSS US EQUITY YTD Change - Average Volume 30 Day 3'941'497
GSS US EQUITY YTD % CHANGE - Average Volume 3 Month 3'223'665
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
257.4 400.7 432.7 471.0 550.5 485.5 552.4 445.7 458.6 106.3 107.0
1.43x 1.99x 2.72x 0.98x 0.95x 4.31x 3.44x 0.39x 0.41x 1.53x 1.55x
1.8 136.7 107.6 91.8 124.7 94.4 117.0 57.8 112.1 15.2 18.6
200.09x 5.85x 10.93x 5.00x 4.18x 5.74x 3.95x 2.69x 1.39x 2.29x 2.22x
(119.3) 16.5 (11.2) (2.1) (9.5) 1.1 (25.2) (25.9) 19.2 (10.5) (7.1)
- 39.07x - - - 0.00x 0.00x - 6.00x - 32.31x
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 -3.45% Short-Term Rating -
Return on Common Equity -5.78%
Return on Capital - EBITDA/Interest Exp. 12.27
Asset Turnover 0.76% (EBITDA-Capex)/Interest Exp. 3.56
Net Debt/EBITDA 0.43
Gross Margin 9.6% Total Debt/EBITDA 0.95
EBITDA Margin 21.2%
EBIT Margin 2.9% 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 7.91
Debt to Assets 16.18% Inventory Days 61.01
Tot Debt to Common Equity 27.10% Accounts Payable Turnover Day 51.20
Accounts Receivable Turnover 46.13 Cash Conversion Cycle -1.28
Inventory Turnover 5.98
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
Golden Star Resources LtdPrice/Volume
Valuation Analysis
28'561'579.00
Current Price (7/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] |
01.07.2013
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 3'237'877 28.06.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 28'879'600 11.15 (1'359'000) 31.03.2013 Investment Advisor
HEARTLAND ADVISORS I HEARTLAND ADVISORS I 13F 26'830'259 10.35 844'389 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 10'793'356 4.17 723'887 27.06.2013 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 7'898'726 3.05 1'617'352 31.03.2013 Hedge Fund Manager
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 5'237'500 2.02 5'237'500 31.03.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 4'819'436 1.86 (1'475'687) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 4'558'095 1.76 12'016 31.03.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 4'350'000 1.68 4'350'000 31.03.2013 Hedge Fund Manager
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'221'423 1.24 (492'267) 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 3'178'325 1.23 (308'600) 31.03.2013 Pension Fund (ERISA)
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 2'972'612 1.15 (92'341) 31.03.2013 Investment Advisor
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 2'625'741 1.01 - 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 1'934'059 0.75 - 31.12.2012 Government
CITIGROUP INCORPORAT n/a ULT-AGG 1'870'572 0.72 1'267'792 31.03.2013 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 1'795'127 0.69 (50'700) 31.03.2013 Investment Advisor
LEGG MASON CAPITAL M Multiple Portfolios MF-AGG 1'467'781 0.57 - 31.03.2013 Investment Advisor
PRINCIPAL FINANCIAL n/a ULT-AGG 1'271'090 0.49 (619'837) 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'235'376 0.48 (1'024'176) 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 1'175'635 0.45 455'015 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ANITA SONI underperform 1 M 0 Not Provided 25.06.2013
Macquarie PIERRE VAILLANCOURT neutral 3 M 1 12 month 20.06.2013
BMO Capital Markets ANDREW BREICHMANAS underperform 1 M 1 Not Provided 18.06.2013
CIBC World Markets COSMOS CHIU sector underperform 1 M 1 18 month 18.06.2013
Scotia Capital TREVOR TURNBULL sector underperform 1 M 0 12 month 18.06.2013
Canaccord Genuity Corp RAHUL PAUL hold 3 M 1 12 month 17.06.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 M 2 12 month 17.06.2013
Raymond James BRAD HUMPHREY market perform 3 M 1 12 month 12.06.2013
EVA Dimensions CRAIG STERLING overweight 5 D #N/A N/A Not Provided 25.05.2013
Holdings By:
Golden Star Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 4.09
52-Week Low (28.06.2013) 0.95
Daily Volume
0.97
52-Week High % Change -76.28% Dividend Yield 0.00
52-Week Low % Change 2.11% Beta 1.18
% 52 Week Price Range High/Low 0.64% Equity Float 68.25
Shares Out 31.05.2013 81.7 Short Int 2.48
79.27 1 Yr Total Return -66.67%
Total Debt 0.00 YTD Return -64.07%
Preferred Stock 0.0 Adjusted BETA 1.180
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 88.40 Consensus Rating 5.000
Enterprise Value 21.81
Average Volume 5 Day 1'726'669
VGZ US EQUITY YTD Change - Average Volume 30 Day 729'735
VGZ US EQUITY YTD % CHANGE - Average Volume 3 Month 560'053
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 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) (31.9) (35.7) (29.0) (29.0) - -
- - - - - 0.00x 0.00x - - - -
(10.0) (1.9) (20.0) 51.5 (70.7) 44.2 (85.7) (42.9) - (4.4) (5.9)
- - - - - 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 -62.87% Short-Term Rating -
Return on Common Equity -82.96%
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 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
5'705'968.00
Current Price (7/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] |
01.07.2013
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 14.79 - 31.03.2013 Hedge Fund Manager
SUN VALLEY GOLD LLC n/a Research 12'084'310 14.79 - 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 11'374'527 13.92 1'172'092 28.06.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 6'145'260 7.52 (430'462) 31.03.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 2'577'504 3.15 268'822 27.06.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 1'758'748 2.15 - 31.03.2013 Corporation
ANDREEFF EQUITY ADVI ANDREEFF EQUITY ADVI 13F 1'386'026 1.7 (200'000) 31.03.2013 Hedge Fund Manager
STATE STREET n/a ULT-AGG 881'631 1.08 (20'701) 31.03.2013 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 - 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 755'864 0.92 627'319 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 713'381 0.87 4'326 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 632'415 0.77 (100'000) 31.03.2013 Pension Fund (ERISA)
PARKER FREDERICK H E n/a Form 4 566'325 0.69 10'000 31.05.2013 n/a
CREDIT SUISSE AG n/a ULT-AGG 412'356 0.5 327'220 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 327'993 0.4 44'000 31.03.2013 Investment Advisor
CITIGROUP INCORPORAT n/a ULT-AGG 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
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 199'168 0.24 (72'615) 31.03.2013 Investment Advisor
RICHINGS MICHAEL B n/a Form 4 188'121 0.23 - 08.01.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 3 12 month 26.06.2013
Roth Capital Partners BRIAN W POST buy 5 M 7 12 month 30.05.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 5 12 month 30.05.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 3 12 month 29.05.2013
Holdings By:
Vista Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (03.07.2012) 0.71
52-Week Low (27.06.2013) 0.00
Daily Volume
0.0033
52-Week High % Change -99.54% Dividend Yield -
52-Week Low % Change 560.00% Beta -
% 52 Week Price Range High/Low 0.39% Equity Float -
Shares Out 28.09.2012 552.4 Short Int 0.51
1.82 1 Yr Total Return -99.48%
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 318.11
Average Volume 5 Day 3'355'381
GBGLF US EQUITY YTD Change - Average Volume 30 Day 1'637'767
GBGLF US EQUITY YTD % CHANGE - Average Volume 3 Month 1'798'485
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
3'502'987.00
Current Price (7/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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120.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 23'107'390 4.18 - 28.03.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 22'797'000 4.13 - 27.12.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 22'307'920 4.04 (68'246'952) 28.06.2013 Investment Advisor
TRANTER GOLD (BEE) n/a Research 20'932'183 3.79 - 24.04.2012 n/a
POWER CORP OF CANADA n/a ULT-AGG 9'258'959 1.68 (16'883) 28.02.2013 Holding Company
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 3'530'000 0.64 - 30.06.2012 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 2'801'617 0.51 (17'500) 29.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'686'303 0.49 1'050 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'785'700 0.32 (17'785'700) 31.03.2013 Investment Advisor
DIPPENAAR FERDINAND n/a SEDI 1'126'800 0.2 100'000 13.04.2012 n/a
MOSTERT JACOB DAWID n/a SEDI 731'273 0.13 - 16.04.2012 n/a
COOKE PATRICK RANDAL n/a SEDI 525'202 0.1 - 31.12.2012 n/a
THIESSEN RONALD W n/a SEDI 468'531 0.08 100'000 25.04.2012 n/a
MOMENTUM Multiple Portfolios MF-AGG 422'273 0.08 - 31.03.2013 Investment Advisor
NESTOR INVESTMENT MA Multiple Portfolios MF-AGG 300'000 0.05 - 28.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 266'255 0.05 - 28.06.2013 Investment Advisor
PRUDENTIAL OF AMERIC n/a ULT-AGG 240'200 0.04 240'200 31.03.2013 Insurance Company
CHARTIST INC CHARTIST INC 13F 231'940 0.04 - 31.03.2013 Investment Advisor
FLAGSHIP PRIVATE ASS Multiple Portfolios MF-AGG 222'200 0.04 - 31.03.2013 Investment Advisor
SHELL ASSET MANAGEME SHELL ASSET MANAGEME 13F 164'263 0.03 - 31.03.2013 Investment Advisor
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] |
01.07.2013
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: 03/yy
52-Week High (04.10.2012) 11.08
52-Week Low (27.06.2013) 5.03
Daily Volume
5.69
52-Week High % Change -48.65% Dividend Yield 0.00
52-Week Low % Change 13.12% Beta 1.27
% 52 Week Price Range High/Low 10.91% Equity Float 144.55
Shares Out 31.05.2013 149.0 Short Int 11.42
847.77 1 Yr Total Return -25.91%
Total Debt 0.00 YTD Return -39.92%
Preferred Stock 0.0 Adjusted BETA 1.268
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 191.89 Consensus Rating 4.455
Enterprise Value 657.44
Average Volume 5 Day 1'464'373
AR CN EQUITY YTD Change - Average Volume 30 Day 1'225'920
AR CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'234'676
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
- - 51.6 104.6 187.1 103.2 205.8 204.3 266.3 42.4 53.1
- - 4.70x 5.77x 6.53x 26.41x 18.85x 3.13x 2.38x 15.26x 12.16x
- - 15.3 55.9 107.3 55.7 117.4 100.6 141.4 17.3 26.4
- - 15.83x 10.78x 11.39x 13.93x 9.02x 6.53x 4.65x 6.90x 6.43x
(0.1) (0.5) 3.7 26.3 64.9 27.6 69.2 54.0 77.3 10.2 15.9
- - 66.38x 24.42x 14.00x 30.39x 12.87x 14.38x 10.34x 12.61x 11.02x
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 10.77% Short-Term Rating -
Return on Common Equity 12.01%
Return on Capital 11.78% EBITDA/Interest Exp. 296.39
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. 159.48
Net Debt/EBITDA -1.26
Gross Margin 62.5% Total Debt/EBITDA 0.18
EBITDA Margin 57.0%
EBIT Margin 45.0% Total Debt/Equity 0.0%
Net Income Margin 34.7% Total Debt/Capital 0.0%
Asset Turnover 0.32
Current Ratio 12.31 Net Fixed Asset Turnover 0.42
Quick Ratio 9.89 Accounts receivable turnover-days 20.55
Debt to Assets 0.00% Inventory Days 209.79
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 24.91
Accounts Receivable Turnover 17.76 Cash Conversion Cycle 178.40
Inventory Turnover 1.74
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
1'336'270.00
Current Price (7/dd/yy) Market Data
'
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20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
200.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 10.26 2'255'841 28.06.2013 Investment Advisor
IG INVESTMENT MANAGE n/a Co File 6'707'533 4.5 - 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 - 30.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'512'062 2.36 1'022'200 30.04.2013 Investment Advisor
MONTRUSCO BOLTON INV Multiple Portfolios MF-AGG 2'995'484 2.01 97'125 30.04.2013 Investment Advisor
BANK OF NOVA SCOTIA n/a ULT-AGG 2'592'336 1.74 2'506'318 28.02.2013 Bank
ALTAMIRA MANAGEMENT Multiple Portfolios MF-AGG 2'186'110 1.47 - 28.03.2013 Unclassified
FIERA CAPITAL CORPOR Multiple Portfolios MF-AGG 2'002'343 1.34 31'190 28.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 1'533'218 1.03 2'301 28.02.2013 Holding Company
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'525'384 1.02 391'927 28.03.2013 Investment Advisor
KENNEDY BRIAN JOHN n/a SEDI 1'472'476 0.99 5'488 06.02.2013 n/a
BLACKROCK n/a ULT-AGG 1'374'098 0.92 (997) 27.06.2013 Investment Advisor
DOUGHERTY PETER C n/a SEDI 1'337'779 0.9 54'885 06.02.2013 n/a
SMITH EDGAR A n/a SEDI 1'120'359 0.75 39'286 14.02.2011 n/a
NORTHWEST MUTUAL FUN Multiple Portfolios MF-AGG 1'112'935 0.75 (221) 30.04.2013 Investment Advisor
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 - 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 994'950 0.67 331'100 31.03.2013 Hedge Fund Manager
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 980'800 0.66 379'800 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 8 Not Provided 28.06.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 11 12 month 24.06.2013
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 M 9 12 month 03.06.2013
GMP ANDREW MIKITCHOOK buy 5 M 10 Not Provided 29.05.2013
Macquarie MICHAEL SIPERCO outperform 5 M 9 12 month 15.05.2013
BMO Capital Markets ANDREW KAIP outperform 5 M 12 Not Provided 14.05.2013
CIBC World Markets CHITIMUKULU MUSONDA sector perform 3 M 8 12 month 14.05.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 14 12 month 14.05.2013
Canaccord Genuity Corp RAHUL PAUL buy 5 M 11 Not Provided 14.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 12 12 month 27.03.2013
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] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 2.29
52-Week Low (27.06.2013) 1.12
Daily Volume
1.33
52-Week High % Change -41.92% Dividend Yield 0.00
52-Week Low % Change 18.75% Beta 1.12
% 52 Week Price Range High/Low 17.95% Equity Float 604.09
Shares Out 31.05.2013 606.5 Short Int 3.03
806.65 1 Yr Total Return -19.39%
Total Debt 0.00 YTD Return -39.55%
Preferred Stock 0.0 Adjusted BETA 1.122
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 423.29 Consensus Rating 4.556
Enterprise Value 425.92
Average Volume 5 Day 3'817'779
TXG CN EQUITY YTD Change - Average Volume 30 Day 3'489'501
TXG CN EQUITY YTD % CHANGE - Average Volume 3 Month 3'829'930
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 03/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 0.0 0.0
- - - - - #DIV/0! #DIV/0! - - - -
(0.3) (1.1) (18.0) (34.1) (60.4) (40.3) (64.4) (41.3) (10.2) - -
- - - - - 0.00x 0.00x - - - -
(0.3) (1.0) (16.4) (33.9) (61.2) (39.9) (66.0) (54.1) (46.5) (10.8) (16.6)
- - - - - 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 -14.08% Short-Term Rating -
Return on Common Equity -14.28%
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
5'955'201.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
TYRUS CAPITAL S.A.M. n/a Co File 92'450'000 15.24 6'150'000 30.04.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 62'073'069 10.23 1'557'667 28.06.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 34'109'990 5.62 (42'200) 31.03.2013 Hedge Fund Manager
BANK OF NOVA SCOTIA n/a ULT-AGG 25'387'350 4.19 14'581'050 31.03.2013 Bank
FMR LLC n/a ULT-AGG 21'207'024 3.5 (766'697) 30.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 20'684'500 3.41 (915'500) 28.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 17'468'277 2.88 (588'900) 28.03.2013 Bank
INVESCO LTD n/a ULT-AGG 14'003'240 2.31 4'065'337 28.06.2013 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 Investment Advisor
BLACKROCK n/a ULT-AGG 5'373'920 0.89 (4'068) 27.06.2013 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 - 31.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 5'036'452 0.83 - 30.04.2013 Investment Advisor
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 4'657'467 0.77 - 28.06.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 4'024'658 0.66 807'658 28.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 3'749'500 0.62 800'000 29.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'027'518 0.5 391'260 31.03.2013 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 - 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON buy 5 M 3 Not Provided 28.06.2013
BMO Capital Markets ANDREW BREICHMANAS speculative outperform 4 M 3 Not Provided 19.06.2013
TD Securities DANIEL EARLE reduce 2 M 1 12 month 19.06.2013
Clarus Securities JAMIE SPRATT buy 5 M 3 12 month 19.06.2013
GMP GEORGE V ALBINO buy 5 M 3 12 month 18.06.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 3 12 month 13.06.2013
Scotia Capital TREVOR TURNBULL sector outperform 5 M 3 12 month 13.06.2013
Macquarie PIERRE VAILLANCOURT outperform 5 M 3 12 month 07.06.2013
Industrial Alliance Securities MERRILL MCHENRY buy 5 M 2 12 month 21.05.2013
Holdings By:
Torex Gold Resources Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
LionGold Corp is an investment holding company focusing on gold mining, mine
development and exploration globally.
Latest Fiscal Year: 03/2013
LTM as of: 03/yy
52-Week High (26.07.2012) 1.30
52-Week Low (08.11.2012) 1.04
Daily Volume
1.105
52-Week High % Change -15.00% Dividend Yield 0.00
52-Week Low % Change 6.76% Beta 0.67
% 52 Week Price Range High/Low 33.96% Equity Float 736.17
Shares Out 01.07.2013 921.9 Short Int -
1'018.74 1 Yr Total Return -12.30%
Total Debt 28.65 YTD Return 0.91%
Preferred Stock 0.0 Adjusted BETA 0.674
Minority Interest 30.2 Analyst Recs 2
Cash and Equivalents 97.92 Consensus Rating 3.000
Enterprise Value 979.67
Average Volume 5 Day 8'907'000
LIGO SP EQUITY YTD Change - Average Volume 30 Day 8'108'500
LIGO SP EQUITY YTD % CHANGE - Average Volume 3 Month 13'158'690
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2009 31.03.2010 31.03.2011 31.03.2012 31.03.2013 03/yy 03/yy 03/14 Y 03/15 Y 06/13 Q1 09/13 Q2
79.8 70.4 83.9 98.0 120.2 98.0 120.2 - - - -
0.56x 3.80x 6.95x 7.95x 8.53x 26.92x 33.33x - - - -
(3.7) 3.1 4.0 (5.3) (15.8) (27.3) (18.1) - - - -
- 84.96x 144.70x - - 0.00x 0.00x - - - -
(5.0) 2.9 0.9 (27.8) (8.4) (26.4) (15.7) - - - -
- 92.86x 740.91x - - 0.00x 0.00x - - - -
EBITDA -15.79 Long-Term Rating Date -
EBIT -26.51 Long-Term Rating -
Operating Margin -22.05% Long-Term Outlook -
Pretax Margin -9.69% Short-Term Rating Date -
Return on Assets -13.46% Short-Term Rating -
Return on Common Equity -23.76%
Return on Capital - EBITDA/Interest Exp. -2.11
Asset Turnover 0.55% (EBITDA-Capex)/Interest Exp. -3.34
Net Debt/EBITDA -15.19
Gross Margin 8.1% Total Debt/EBITDA 25.31
EBITDA Margin 1.5%
EBIT Margin -1.4% Total Debt/Equity 11.7%
Net Income Margin -7.0% Total Debt/Capital 9.4%
Asset Turnover 0.55
Current Ratio 2.73 Net Fixed Asset Turnover 7.06
Quick Ratio 2.39 Accounts receivable turnover-days 88.47
Debt to Assets 7.34% Inventory Days 45.83
Tot Debt to Common Equity 11.66% Accounts Payable Turnover Day 145.53
Accounts Receivable Turnover 4.14 Cash Conversion Cycle -7.78
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
7'738'000.00
Current Price (7/dd/yy) Market Data
'
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120.0
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01.07.2013
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 28.06.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 45'000'000 4.88 - 05.06.2013 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 ULT-AGG 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
NORGES BANK Multiple Portfolios MF-AGG 13'066'202 1.42 - 31.12.2012 Government
DMG & PARTNERS SECUR n/a Co File 7'600'000 0.82 - 29.06.2012 Unclassified
VANGUARD GROUP INC Multiple Portfolios MF-AGG 4'139'691 0.45 (8'000) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 2'721'000 0.3 47'000 31.07.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 2'132'000 0.23 5'000 27.06.2013 Investment Advisor
NG YICK HING NICHOLA n/a EXCH 2'000'000 0.22 2'000'000 14.02.2013 n/a
STATE STREET n/a ULT-AGG 426'000 0.05 - 28.06.2013 Investment Advisor
CHARLES SCHWAB INVES Multiple Portfolios MF-AGG 312'000 0.03 - 28.06.2013 Investment Advisor
SCANLAN GARY FRANCIS n/a EXCH 135'005 0.01 - 08.10.2012 n/a
INVESCO LTD n/a ULT-AGG 99'000 0.01 - 28.06.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 72'609 0.01 - 28.06.2013 Investment Advisor
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 51'612 0.01 11'990 31.05.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH sell 1 M #N/A N/A Not Provided 06.06.2013
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] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 4.65
52-Week Low (31.07.2012) 2.30
Daily Volume
2.8
52-Week High % Change -39.78% Dividend Yield 0.00
52-Week Low % Change 21.74% Beta 1.41
% 52 Week Price Range High/Low 21.28% Equity Float 240.39
Shares Out 31.05.2013 396.4 Short Int 2.04
1'109.80 1 Yr Total Return -12.77%
Total Debt 212.93 YTD Return -17.89%
Preferred Stock 0.0 Adjusted BETA 1.410
Minority Interest 8.1 Analyst Recs 7
Cash and Equivalents 181.74 Consensus Rating 3.857
Enterprise Value 1'189.17
Average Volume 5 Day 510'957
CGG CN EQUITY YTD Change - Average Volume 30 Day 520'624
CGG CN EQUITY YTD % CHANGE - Average Volume 3 Month 426'805
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
29.4 81.0 133.2 311.3 332.4 353.5 331.6 336.5 548.0 - -
3.54x 7.07x 15.60x 2.82x 4.21x 14.89x 17.52x 3.71x 2.29x - -
(0.1) 25.0 69.3 140.5 138.7 145.6 148.6 127.0 164.0 - -
- 22.93x 29.97x 6.24x 10.08x 12.87x 10.98x 9.36x 7.25x - -
14.6 (9.3) 26.2 79.4 70.9 89.1 72.5 59.7 62.0 - -
36.15x - 39.69x 13.23x 19.15x 22.91x 20.64x 17.74x 17.17x - -
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 3.98% Short-Term Rating -
Return on Common Equity 5.42%
Return on Capital 5.27% EBITDA/Interest Exp. 11.05
Asset Turnover 0.18% (EBITDA-Capex)/Interest Exp. -6.09
Net Debt/EBITDA 0.85
Gross Margin 37.6% Total Debt/EBITDA 1.88
EBITDA Margin 44.8%
EBIT Margin 30.8% Total Debt/Equity 15.7%
Net Income Margin 21.3% Total Debt/Capital 13.5%
Asset Turnover 0.18
Current Ratio 1.57 Net Fixed Asset Turnover 0.23
Quick Ratio 1.26 Accounts receivable turnover-days 32.68
Debt to Assets 11.79% Inventory Days 58.02
Tot Debt to Common Equity 15.66% Accounts Payable Turnover Day 59.84
Accounts Receivable Turnover 11.17 Cash Conversion Cycle -50.04
Inventory Turnover 6.29
Fiscal Year Ended
China Gold International Resources Corp LtdPrice/Volume
Valuation Analysis
641'280.00
Current Price (7/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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2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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01.07.2013
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 18'041'902 4.55 162'984 28.06.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 3'766'753 0.95 - 31.12.2012 Government
BLACKROCK n/a ULT-AGG 1'882'069 0.47 (4'599) 27.06.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'685'900 0.43 - 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 890'593 0.22 33'750 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 844'196 0.21 - 29.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 161'992 0.04 (819) 28.06.2013 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 - 03.12.2012 Investment Advisor
STATE STREET n/a ULT-AGG 125'996 0.03 - 28.06.2013 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 - 31.01.2013 Bank
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 90'000 0.02 - 31.01.2013 Investment Advisor
INDEXIQ ADVISORS LLC Multiple Portfolios MF-AGG 84'689 0.02 - 28.06.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 74'886 0.02 (1'515) 31.12.2012 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 57'376 0.01 - 30.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH hold 3 U #N/A N/A Not Provided 17.06.2013
BOCOM International Holdings BENJAMIN PEI neutral 3 D 3 Not Provided 20.05.2013
Credit Suisse OWEN LIANG neutral 3 M 3 Not Provided 16.05.2013
Argonaut Securities Pty Ltd CHRIS JIANG buy 5 M 4 Not Provided 16.05.2013
Guotai Junan KEVIN GUO neutral 3 D 3 Not Provided 22.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (04.10.2012) 3.07
52-Week Low (28.06.2013) 0.40
Daily Volume
0.49
52-Week High % Change -84.04% Dividend Yield -
52-Week Low % Change 22.50% Beta 1.47
% 52 Week Price Range High/Low 3.37% Equity Float 446.89
Shares Out 31.05.2013 458.0 Short Int 0.47
224.40 1 Yr Total Return -81.44%
Total Debt 60.26 YTD Return -77.73%
Preferred Stock 0.0 Adjusted BETA 1.472
Minority Interest (0.6) Analyst Recs 23
Cash and Equivalents 105.50 Consensus Rating 4.087
Enterprise Value 196.25
Average Volume 5 Day 2'481'815
PRU CN EQUITY YTD Change - Average Volume 30 Day 2'479'335
PRU CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'223'797
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
- - 0.0 0.0 144.7 0.0 291.8 298.8 357.9 96.1 116.0
- - - - 7.53x #DIV/0! 11.32x 0.65x 0.71x - -
(5.5) (3.3) (10.1) (32.0) 55.3 (46.3) 167.9 105.6 128.6 - -
- - - - 19.72x 0.00x 0.00x 1.86x 1.53x - -
(4.8) (4.8) (9.7) (48.2) 47.2 24.8 44.6 45.8 54.2 26.0 34.1
- - - - - 0.00x 0.00x 5.35x 3.85x 2.50x 2.13x
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
2'454'997.00
Current Price (7/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
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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 49'299'344 10.76 5'604'112 28.06.2013 Investment Advisor
THE BANK OF NOVA SCO n/a EXCH 44'475'800 9.71 (5'324'430) 22.04.2013 Investment Advisor
BANK OF NOVA SCOTIA n/a ULT-AGG 43'511'503 9.5 (39'197) 31.03.2013 Bank
WELLINGTON MANAGEMEN n/a EXCH 21'999'741 4.8 (2'286'330) 05.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 13'439'700 2.93 - 28.02.2013 Holding Company
JP MORGAN n/a ULT-AGG 11'813'400 2.58 (5'800) 30.04.2013 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 - 30.04.2013 Investment Advisor
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 6'894'410 1.51 - 28.06.2013 Investment Advisor
MONTRUSCO BOLTON INV Multiple Portfolios MF-AGG 6'778'993 1.48 1'483'000 30.04.2013 Investment Advisor
IVY MANAGEMENT INCOR Multiple Portfolios MF-AGG 6'459'171 1.41 300'000 31.03.2013 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 5'921'800 1.29 500'000 28.02.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 5'531'332 1.21 392'732 31.12.2012 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 5'097'421 1.11 255'851 30.04.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 4'260'600 0.93 (350'300) 28.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 4'000'000 0.87 - 28.03.2013 Investment Advisor
CALDERWOOD MARK ANDR n/a EXCH 3'600'000 0.79 - 31.01.2013 n/a
BLACKROCK n/a ULT-AGG 3'466'593 0.76 2'352 27.06.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'109'619 0.68 443'404 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 2'873'200 0.63 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Clarus Securities NANA SANGMUAH hold 3 M 2 12 month 28.06.2013
Goldman Sachs PAUL HISSEY neutral/attractive 3 M 1 12 month 26.06.2013
RBC Capital Markets STEUART MCINTYRE sector perform 3 M 2 12 month 26.06.2013
Canaccord Genuity Corp REG SPENCER buy 5 M 1 Not Provided 26.06.2013
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 2 Not Provided 25.06.2013
JPMorgan JOSEPH KIM neutral 3 D 1 6 month 25.06.2013
Macquarie PIERRE VAILLANCOURT outperform 5 M 2 12 month 25.06.2013
CIMB MICHAEL EVANS outperform 5 M 1 12 month 25.06.2013
Commonwealth Bank ANDREW KNUCKEY neutral 3 M 1 12 month 25.06.2013
GMP LEVI SPRY buy 5 M 1 Not Provided 25.06.2013
BMO Capital Markets ANDREW BREICHMANAS outperform 5 M 2 Not Provided 24.06.2013
Morgan Stanley BRENDAN FITZPATRICK Overwt/In-Line 5 M 2 12 month 24.06.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 2 12 month 24.06.2013
Dundee Securities Corp JOSH WOLFSON neutral 3 D 1 12 month 24.06.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 1 12 month 21.06.2013
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Cormark Securities Inc. MIKE KOZAK market perform 3 M 3 12 month 22.04.2013
Nomura DAVID RADCLYFFE suspended coverage #N/A N/A M #N/A N/A Not Provided 12.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (05.10.2012) 14.99
52-Week Low (28.06.2013) 4.98
Daily Volume
6.17
52-Week High % Change -58.84% Dividend Yield 0.00
52-Week Low % Change 23.90% Beta 1.34
% 52 Week Price Range High/Low 11.89% Equity Float 84.99
Shares Out 31.05.2013 91.9 Short Int 3.15
566.98 1 Yr Total Return -25.66%
Total Debt 0.00 YTD Return -47.22%
Preferred Stock 0.0 Adjusted BETA 1.337
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 127.36 Consensus Rating 4.100
Enterprise Value 485.70
Average Volume 5 Day 698'397
SSL CN EQUITY YTD Change - Average Volume 30 Day 522'489
SSL CN EQUITY YTD % CHANGE - Average Volume 3 Month 460'994
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 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
- 0.0 3.1 30.0 55.9 39.8 57.8 65.1 89.1 - -
- - 72.23x 12.63x 15.79x 42.83x 55.75x - - - -
- - (0.2) 19.1 36.6 27.3 35.3 35.8 69.6 - -
- - - 19.80x 24.12x 22.74x 22.68x 13.56x 6.98x - -
(0.1) (0.4) (2.8) 12.5 21.9 15.9 5.4 13.8 23.1 - -
- - 80.46x 39.35x 47.00x 47.06x 55.67x 34.70x 16.43x 25.06x 20.36x
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 1.77% Short-Term Rating -
Return on Common Equity 1.95%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.19% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -2.75
Gross Margin 78.7% Total Debt/EBITDA 0.00
EBITDA Margin 61.0%
EBIT Margin 33.3% Total Debt/Equity 0.0%
Net Income Margin 39.2% Total Debt/Capital 0.0%
Asset Turnover 0.19
Current Ratio 27.97 Net Fixed Asset Turnover 0.27
Quick Ratio 24.35 Accounts receivable turnover-days 13.15
Debt to Assets 0.00% Inventory Days 7.52
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 24.65
Accounts Receivable Turnover 27.76 Cash Conversion Cycle -
Inventory Turnover 48.57
Fiscal Year Ended
Sandstorm Gold LtdPrice/Volume
Valuation Analysis
969'511.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 5'862'520 6.38 (37'200) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'815'015 6.33 52'416 28.06.2013 Investment Advisor
LIBRA ADVISORS LLC n/a Co File 4'502'755 4.9 - 16.05.2013 Hedge Fund Manager
ARIAS RESOURCE CAPIT n/a Co File 4'410'862 4.8 - 16.05.2013 Private Equity
WELLS FARGO n/a ULT-AGG 3'147'295 3.42 75'677 30.04.2013 Investment Advisor
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 2'876'862 3.13 242'100 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'292'300 2.49 1'250'000 31.03.2013 Investment Advisor
MASON HILL ADVISORS MASON HILL ADVISORS 13F 1'836'404 2 1'836'404 31.03.2013 Hedge Fund Manager
ROYAL BANK OF CANADA n/a ULT-AGG 1'236'912 1.35 (216'668) 31.03.2013 Bank
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 1'086'266 1.18 607 31.03.2013 Investment Advisor
MONTRUSCO BOLTON INV MONTRUSCO BOLTON INV 13F 1'010'000 1.1 153'250 31.03.2013 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 1'009'660 1.1 (163'340) 29.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 1'005'674 1.09 (92'716) 31.03.2013 Investment Advisor
WATSON NOLAN ALLAN n/a SEDI 930'000 1.01 36'500 11.06.2013 n/a
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 797'250 0.87 - 28.06.2013 Investment Advisor
GBC ASSET MANAGEMENT Multiple Portfolios MF-AGG 777'820 0.85 - 31.12.2011 Investment Advisor
DE WITT DAVID E n/a SEDI 767'000 0.83 - 10.05.2012 n/a
AWRAM DAVID I n/a SEDI 759'100 0.83 (3'400) 04.01.2013 n/a
CANADA PENSION PLAN CANADA PENSION PLAN 13F 594'946 0.65 (60'200) 31.03.2013 Pension Fund (ERISA)
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 542'100 0.59 (167'900) 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 N 7 12 month 27.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 11 12 month 25.06.2013
RBC Capital Markets DAN ROLLINS outperform 5 M 10 12 month 24.06.2013
TD Securities DANIEL EARLE hold 3 M 9 12 month 19.06.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 11 12 month 17.06.2013
Casimir Capital ERIC WINMILL buy 5 M 14 Not Provided 17.06.2013
EVA Dimensions CRAIG STERLING sell 1 M #N/A N/A Not Provided 22.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 14 12 month 10.05.2013
National Bank Financial SHANE NAGLE outperform 5 M 13 12 month 10.05.2013
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] |
01.07.2013
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 (26.06.2013) 1.04
Daily Volume
1.3
52-Week High % Change -64.86% Dividend Yield 0.00
52-Week Low % Change 25.00% Beta 2.16
% 52 Week Price Range High/Low 9.77% Equity Float 283.52
Shares Out 14.06.2013 293.6 Short Int 1.25
381.65 1 Yr Total Return -33.33%
Total Debt 266.87 YTD Return -54.39%
Preferred Stock 0.0 Adjusted BETA 2.160
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 96.50 Consensus Rating 4.400
Enterprise Value 585.23
Average Volume 5 Day 1'412'549
OGC CN EQUITY YTD Change - Average Volume 30 Day 1'001'664
OGC CN EQUITY YTD % CHANGE - Average Volume 3 Month 967'303
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
217.2 237.1 305.6 395.6 385.4 393.4 392.5 525.7 584.3 135.0 151.0
0.77x 1.89x 3.30x 1.61x 2.62x 7.19x 9.75x 1.02x 0.86x 4.30x 3.85x
63.7 106.6 141.1 164.3 144.5 145.7 169.3 215.7 212.3 47.6 61.8
2.62x 4.20x 7.15x 3.88x 7.00x 5.58x 6.24x 2.71x 2.76x 2.82x 2.85x
(54.7) 54.5 44.4 44.2 20.7 25.5 31.6 50.3 56.1 8.5 18.4
- 5.68x 18.76x 13.02x 35.81x 26.83x 25.85x 6.75x 5.28x 5.37x 5.26x
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
1'144'264.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 23'372'747 7.96 - 28.06.2013 Investment Advisor
AMP CAPITAL INVESTOR n/a EXCH 14'660'107 4.99 (1'119'773) 21.01.2013 Other
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 8'700'000 2.96 - 28.02.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 5'252'926 1.79 - 29.03.2013 Investment Advisor
NEW ZEALAND CENTRAL n/a PROXY 5'005'882 1.71 - 02.04.2013 Government
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 3'660'000 1.25 100'000 30.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 3'565'116 1.21 (4'700) 28.03.2013 Bank
FMR LLC n/a ULT-AGG 3'222'300 1.1 (30'000) 30.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 2'604'738 0.89 (1'953) 27.06.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 1'930'223 0.66 (547'087) 28.06.2013 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 1'930'100 0.66 1'330'100 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'631'518 0.56 275'600 31.03.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 1'486'726 0.51 - 31.12.2012 Government
BOND STREET CUSTODIA n/a PROXY 1'289'396 0.44 - 02.04.2013 Other
YANDAL INVESTMENTS P n/a PROXY 1'123'653 0.38 - 02.04.2013 Investment Advisor
ASKEW JAMES EDWARD n/a PROXY 1'097'008 0.37 - 12.04.2013 n/a
INTERNATIONAL MINING n/a SEDI 1'097'008 0.37 10'000 30.12.2012 Other
SPROTT INC Multiple Portfolios MF-AGG 900'000 0.31 - 31.12.2012 Hedge Fund Manager
DEUTSCHE BANK AG n/a ULT-AGG 816'437 0.28 (93'932) 30.04.2013 Investment Advisor
SFB INVESTMENTS PTY n/a PROXY 800'000 0.27 - 02.04.2013 Other
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Forsyth Barr ANDREW HARVEY-GREEN accumulate 4 M 1 12 month 30.06.2013
BMO Capital Markets BRIAN QUAST market perform 3 D 1 Not Provided 27.06.2013
GMP ANDREW MIKITCHOOK buy 5 M 2 Not Provided 17.06.2013
Macquarie MICHAEL SIPERCO outperform 5 M 3 12 month 17.05.2013
Cormark Securities Inc. MIKE KOZAK buy 5 M 3 12 month 30.04.2013
Holdings By:
OceanaGold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (25.06.2013) 1.27
Daily Volume
1.575
52-Week High % Change -76.49% Dividend Yield 1.43
52-Week Low % Change 24.51% Beta 1.01
% 52 Week Price Range High/Low 5.15% Equity Float 168.42
Shares Out 31.12.2012 188.9 Short Int 1.41
297.52 1 Yr Total Return -67.28%
Total Debt 0.00 YTD Return -70.99%
Preferred Stock 0.0 Adjusted BETA 1.012
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 12.47 Consensus Rating 4.636
Enterprise Value 264.03
Average Volume 5 Day 3'386'352
MML AU EQUITY YTD Change - Average Volume 30 Day 2'627'769
MML AU EQUITY YTD % CHANGE - Average Volume 3 Month 2'233'604
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 - - 109.0 228.1 - -
9.93x 5.99x 6.25x 8.51x 11.40x - - 2.42x 0.84x - -
4.6 30.4 73.0 120.2 57.6 - - 75.1 164.9 - -
34.16x 8.41x 8.04x 10.54x 16.00x - - 3.51x 1.60x - -
(1.2) 28.5 65.8 110.4 49.2 - - 63.3 147.8 - -
- 8.88x 8.74x 12.02x 18.94x - - 3.76x 1.87x - -
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
2'634'459.00
Current Price (7/dd/yy) Market Data
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40.0
60.0
80.0
100.0
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140.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 15'309'037 8.1 1'902'381 28.06.2013 Investment Advisor
WELLINGTON MANAGEMEN n/a EXCH 12'932'853 6.85 3'480'817 26.06.2013 Investment Advisor
PRUDENTIAL PLC n/a ULT-AGG 10'998'900 5.82 (1'500'000) 18.06.2013 Unclassified
BLACKROCK n/a ULT-AGG 9'541'215 5.05 - 27.06.2013 Investment Advisor
FMR LLC n/a ULT-AGG 9'421'413 4.99 (1'496'675) 24.05.2013 Investment Advisor
UCA FUNDS MANAGEMENT Multiple Portfolios MF-AGG 5'876'563 3.11 780'119 31.05.2013 Investment Advisor
DAVIS GEOFFREY JOHN n/a EXCH 4'102'750 2.17 50'000 03.05.2013 n/a
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 - 31.03.2013 Hedge Fund Manager
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 2'500'000 1.32 - 30.04.2013 Investment Advisor
BANQUE DE LUXEMBOURG Multiple Portfolios MF-AGG 2'000'000 1.06 371'061 30.04.2013 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 - 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 - 29.03.2013 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
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 1'142'000 0.6 (569'800) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs PAUL HISSEY buy/attractive 5 M 3 12 month 26.06.2013
RBC Capital Markets STEUART MCINTYRE sector perform 3 M 4 12 month 26.06.2013
Deutsche Bank CHRIS TERRY hold 3 D 2 12 month 25.06.2013
Morgan Stanley BRENDAN FITZPATRICK Overwt/In-Line 5 M 5 12 month 24.06.2013
Ord Minnett DAVID BRENNAN buy 5 M 4 Not Provided 24.06.2013
SP Angel CAROLE FERGUSON buy 5 M 8 Not Provided 21.06.2013
EVA Dimensions TIMOTHY STANISH overweight 5 U #N/A N/A Not Provided 19.06.2013
Cantor Fitzgerald ASA BRIDLE buy 5 M 5 Not Provided 03.05.2013
Blackswan Equities Ltd RHYS BRADLEY buy 5 N 7 12 month 01.03.2013
Holdings By:
Medusa Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 9.94
52-Week Low (26.06.2013) 3.69
Daily Volume
4.3
52-Week High % Change -56.74% Dividend Yield 0.00
52-Week Low % Change 16.53% Beta 1.41
% 52 Week Price Range High/Low 9.76% Equity Float 90.37
Shares Out 31.05.2013 125.9 Short Int 16.01
541.38 1 Yr Total Return -29.85%
Total Debt 81.77 YTD Return -49.23%
Preferred Stock 0.0 Adjusted BETA 1.414
Minority Interest 7.0 Analyst Recs 9
Cash and Equivalents 123.36 Consensus Rating 4.889
Enterprise Value 537.47
Average Volume 5 Day 999'074
DPM CN EQUITY YTD Change - Average Volume 30 Day 681'831
DPM CN EQUITY YTD % CHANGE - Average Volume 3 Month 595'419
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
105.1 137.6 202.0 338.5 384.7 367.9 373.5 414.0 461.8 90.1 102.5
0.65x 2.15x 5.56x 2.84x 2.68x 10.79x 10.35x 1.15x 1.17x - -
(36.2) 16.4 - - - 14.7 16.6 150.7 209.2 17.9 -
- 18.00x - - - 0.00x 0.00x 3.57x 2.57x - -
(79.2) 5.1 22.9 86.1 54.4 80.0 46.9 78.3 122.5 7.4 18.6
- 44.88x 49.37x 13.48x 21.72x 16.02x 23.19x 8.07x 5.35x 6.81x 6.24x
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 4.98% Short-Term Rating -
Return on Common Equity 6.53%
Return on Capital 3.49% EBITDA/Interest Exp. -
Asset Turnover 0.40% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 40.8% Total Debt/EBITDA -
EBITDA Margin -
EBIT Margin 15.6% Total Debt/Equity 10.9%
Net Income Margin 14.1% Total Debt/Capital 9.8%
Asset Turnover 0.40
Current Ratio 3.10 Net Fixed Asset Turnover 0.64
Quick Ratio 2.36 Accounts receivable turnover-days 49.14
Debt to Assets 8.41% Inventory Days 78.39
Tot Debt to Common Equity 10.94% Accounts Payable Turnover Day 63.33
Accounts Receivable Turnover 7.43 Cash Conversion Cycle 56.62
Inventory Turnover 4.66
Fiscal Year Ended
Dundee Precious Metals IncPrice/Volume
Valuation Analysis
866'571.00
Current Price (7/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
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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DUNDEE CORP n/a SEDI 34'720'807 27.58 3'592'000 12.06.2013 Holding Company
US GLOBAL INVESTORS n/a Research 8'442'571 6.71 - 28.02.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 7'677'015 6.1 69'312 28.06.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 5'684'509 4.52 - 31.12.2012 Government
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 5'331'900 4.23 - 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 4'734'500 3.76 - 30.04.2013 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 3'756'865 2.98 (242'700) 28.03.2013 Bank
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 3'634'800 2.89 - 28.02.2013 Investment Advisor
FIERA CAPITAL CORPOR Multiple Portfolios MF-AGG 2'607'288 2.07 (60'359) 28.03.2013 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 2'212'200 1.76 666'900 31.12.2012 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 1'918'596 1.52 (450'600) 31.03.2013 Hedge Fund Manager
NATCAN INVESTMENT MA Multiple Portfolios MF-AGG 1'651'367 1.31 53'212 28.03.2013 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 0.92 43'784 31.03.2013 Hedge Fund Manager
DIMENSIONAL FUND ADV n/a ULT-AGG 952'701 0.76 - 29.03.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 771'700 0.61 - 28.02.2013 Holding Company
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 761'500 0.6 - 28.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 650'000 0.52 650'000 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 583'541 0.46 28'700 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON buy 5 M 8 Not Provided 28.06.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 9 12 month 24.06.2013
GMP OLIVER TURNER buy 5 M 11 Not Provided 17.06.2013
Scotia Capital LEILY OMOUMI sector outperform 5 M 11 12 month 12.06.2013
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Paradigm Capital Inc DON MACLEAN buy 5 M 9 12 month 22.05.2013
Dundee Securities Corp JOSH WOLFSON not rated #N/A N/A M #N/A N/A Not Provided 16.05.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M 10 Not Provided 12.05.2013
Cormark Securities Inc. MIKE KOZAK top pick 5 M 11 12 month 10.05.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 M 11 Not Provided 11.04.2013
Holdings By:
Dundee Precious Metals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (02.11.2012) 6.00
52-Week Low (27.06.2013) 1.75
Daily Volume
1.95
52-Week High % Change -67.50% Dividend Yield 0.00
52-Week Low % Change 11.43% Beta 1.11
% 52 Week Price Range High/Low 4.71% Equity Float 162.59
Shares Out 31.05.2013 175.9 Short Int 1.36
342.98 1 Yr Total Return -52.21%
Total Debt 3.26 YTD Return -61.69%
Preferred Stock 0.0 Adjusted BETA 1.112
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 38.61 Consensus Rating 4.400
Enterprise Value 298.92
Average Volume 5 Day 866'214
RIO CN EQUITY YTD Change - Average Volume 30 Day 832'476
RIO CN EQUITY YTD % CHANGE - Average Volume 3 Month 791'935
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.05.2008 31.05.2009 31.05.2010 31.05.2011 31.12.2012 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 0.0 316.5 94.7 280.6 329.0 315.0 - -
- - - - 2.71x 15.20x 11.13x 0.94x - - -
(2.3) (1.5) (3.9) (8.0) 173.1 61.5 132.4 127.8 143.3 - -
- - - - 4.96x 0.00x 5.87x 2.34x 2.09x - -
(1.9) (1.5) (12.6) (8.0) 100.4 29.2 75.6 64.6 79.3 - -
- - - - 8.93x 0.00x 11.35x 4.50x 4.42x 4.97x 4.72x
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 24.91% Short-Term Rating -
Return on Common Equity 38.84%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.92% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -0.33
Gross Margin 62.4% Total Debt/EBITDA 0.02
EBITDA Margin 47.2%
EBIT Margin 37.5% Total Debt/Equity 1.4%
Net Income Margin 31.7% Total Debt/Capital 1.4%
Asset Turnover 0.92
Current Ratio 1.61 Net Fixed Asset Turnover 1.64
Quick Ratio 0.74 Accounts receivable turnover-days 13.17
Debt to Assets 0.92% Inventory Days 75.02
Tot Debt to Common Equity 1.43% Accounts Payable Turnover Day 120.40
Accounts Receivable Turnover 27.72 Cash Conversion Cycle -36.68
Inventory Turnover 4.87
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
941'635.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 27'493'900 15.63 27'493'900 31.03.2013 Investment Advisor
SENTRY SELECT CAPITA n/a PROXY 25'949'700 14.75 (1'544'200) 26.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 14'800'000 8.41 8'820'000 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 12'941'982 7.36 116'664 28.06.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 8'340'500 4.74 8'340'500 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 7'048'072 4.01 4'001'000 27.06.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 6'530'445 3.71 6'530'445 31.03.2013 Bank
AUSCAN ASSETS LIMITE n/a SEDI 4'994'651 2.84 25'000 11.06.2013 Other
NORWICH ROGER n/a PROXY 4'734'195 2.69 - 26.04.2013 n/a
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 4'296'000 2.44 4'296'000 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'902'100 1.65 2'902'100 31.03.2013 Pension Fund (ERISA)
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 2'360'802 1.34 2'360'802 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 2'068'242 1.18 2'068'242 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'970'000 1.12 1'970'000 31.03.2013 Investment Advisor
GREYSTONE MANAGED IN GREYSTONE MANAGED IN 13F 1'854'700 1.05 1'854'700 31.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'560'100 0.89 1'560'100 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'550'000 0.88 1'550'000 28.03.2013 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 1'351'000 0.77 1'351'000 31.03.2013 Investment Advisor
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 1'076'700 0.61 1'076'700 31.03.2013 Investment Advisor
SOLDI JAIME n/a SEDI 1'028'288 0.58 126'000 02.01.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
GMP GEORGE V ALBINO buy 5 M 6 Not Provided 17.06.2013
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 U 4 12 month 12.06.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 4 Not Provided 05.06.2013
Scotia Capital MARK TURNER sector perform 3 M 4 12 month 05.06.2013
Desjardins Securities ADAM MELNYK hold 3 M 5 Not Provided 05.06.2013
Clarus Securities MIKE BANDROWSKI buy 5 M 6 12 month 05.06.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 22.05.2013
CIBC World Markets MATTHEW GIBSON sector outperform 5 M 7 12 month 15.05.2013
Kallpa Securities SAB HUMBERTO LEON overweight 5 M 5 12 month 03.05.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 7 12 month 08.04.2013
Holdings By:
Rio Alto Mining Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (19.09.2012) 5.37
52-Week Low (24.12.2012) 3.19
Daily Volume
3.85
52-Week High % Change -28.31% Dividend Yield -
52-Week Low % Change 20.69% Beta 1.01
% 52 Week Price Range High/Low 30.28% Equity Float -
Shares Out 31.05.2013 164.8 Short Int 3.36
634.63 1 Yr Total Return -
Total Debt 0.00 YTD Return -
Preferred Stock 0.0 Adjusted BETA 1.006
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 204.71 Consensus Rating 3.000
Enterprise Value 478.28
Average Volume 5 Day 0
AZK US EQUITY YTD Change - Average Volume 30 Day 427'832
AZK US EQUITY YTD % CHANGE - Average Volume 3 Month 644'519
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
144.5 175.6 178.7 260.0 223.6 269.5 210.1 - - - -
4.07x 3.65x 5.82x 2.31x 1.61x 9.71x 10.01x - - - -
53.5 87.5 69.8 124.9 92.2 134.3 77.9 - - - -
10.98x 7.32x 14.90x 4.81x 3.90x 4.46x 6.98x - - - -
4.9 36.7 17.2 43.9 31.8 49.7 20.6 - - - -
- - - - - 0.00x 0.00x 67.50x 21.32x - -
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 4.76% Short-Term Rating -
Return on Common Equity 5.91%
Return on Capital 6.03% EBITDA/Interest Exp. 107.74
Asset Turnover 0.49% (EBITDA-Capex)/Interest Exp. 19.32
Net Debt/EBITDA -2.43
Gross Margin 41.0% Total Debt/EBITDA 0.00
EBITDA Margin 37.1%
EBIT Margin 18.6% Total Debt/Equity 0.0%
Net Income Margin 14.2% Total Debt/Capital 0.0%
Asset Turnover 0.49
Current Ratio 7.30 Net Fixed Asset Turnover 1.07
Quick Ratio 6.49 Accounts receivable turnover-days 19.33
Debt to Assets 0.00% Inventory Days 49.19
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 82.16
Accounts Receivable Turnover 18.89 Cash Conversion Cycle 14.19
Inventory Turnover 7.42
Fiscal Year Ended
Aurizon Mines LtdPrice/Volume
Valuation Analysis
5'181'137.00
Current Price (7/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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01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
HECLA MINING CO n/a Research 164'838'394 100 - 06.06.2013 Corporation
ALAMOS GOLD INC n/a 13D 26'507'283 16.08 - 19.03.2013 Other
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 5'855'560 3.55 104'300 31.03.2013 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 4'647'300 2.82 (159'200) 31.03.2013 Hedge Fund Manager
GRANTHAM MAYO VAN OT GRANTHAM MAYO VAN OT 13F 4'273'700 2.59 4'273'700 31.03.2013 Investment Advisor
ALPINE ASSOCIATES AD ALPINE ASSOCIATES AD 13F 3'842'000 2.33 3'842'000 31.03.2013 Hedge Fund Manager
CAISSE DE DEPOT ET P Multiple Portfolios MF-AGG 2'222'430 1.35 - 31.12.2012 Investment Advisor
HARVARD MANAGEMENT C HARVARD MANAGEMENT C 13F 1'707'800 1.04 1'707'800 31.03.2013 Endowment
LONGFELLOW INVESTMEN LONGFELLOW INVESTMEN 13F 1'674'818 1.02 1'674'818 31.03.2013 Investment Advisor
TOUCHSTONE ADVISORS Multiple Portfolios MF-AGG 1'655'218 1 1'655'218 28.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'584'910 0.96 45'000 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'304'320 0.79 (1'626'815) 31.03.2013 Pension Fund (ERISA)
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
FIRST EAGLE INVESTME FIRST EAGLE INVESTME 13F 1'121'404 0.68 (1'183'046) 31.03.2013 Hedge Fund Manager
UBS n/a ULT-AGG 1'093'674 0.66 1'062'194 31.03.2013 Unclassified
HALL DAVID P n/a SEDI 990'342 0.6 5'000 04.04.2012 n/a
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 962'464 0.58 12'062 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 955'334 0.58 - 31.12.2012 Government
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 929'694 0.56 (173'619) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
Mackie Research Capital Corp. RYAN HANLEY tender #N/A N/A M 5 Not Provided 16.05.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 5 12 month 04.03.2013
Holdings By:
Aurizon Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 10.73
52-Week Low (26.06.2013) 2.88
Daily Volume
3.43
52-Week High % Change -68.03% Dividend Yield -
52-Week Low % Change 19.10% Beta 1.17
% 52 Week Price Range High/Low 7.01% Equity Float 98.17
Shares Out 31.05.2013 99.7 Short Int 1.45
341.94 1 Yr Total Return -57.76%
Total Debt 9.00 YTD Return -56.53%
Preferred Stock 0.0 Adjusted BETA 1.170
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 27.14 Consensus Rating 4.556
Enterprise Value 343.71
Average Volume 5 Day 1'505'070
EXK US EQUITY YTD Change - Average Volume 30 Day 1'044'397
EXK US EQUITY YTD % CHANGE - Average Volume 3 Month 1'228'233
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
39.3 50.8 86.5 128.0 208.1 141.7 228.9 237.8 280.5 - -
1.18x 3.98x 5.80x 5.79x 3.68x 18.97x 12.83x 1.53x 1.02x - -
(4.5) 11.3 30.7 64.8 89.8 71.1 87.6 72.6 110.4 8.3 13.5
- 17.91x 16.36x 11.43x 8.53x 9.84x 7.11x 4.74x 3.11x - -
(18.0) (1.9) (20.4) 18.8 42.1 38.0 36.7 24.5 48.1 - -
- - - - - 0.00x 0.00x 12.56x 8.64x 31.76x 15.24x
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 99.29
Tot Debt to Common Equity 2.65% Accounts Payable Turnover Day 56.54
Accounts Receivable Turnover 12.57 Cash Conversion Cycle 75.06
Inventory Turnover 3.68
Fiscal Year Ended
Endeavour Silver CorpPrice/Volume
Valuation Analysis
2'212'099.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 8'013'149 8.04 1'059'160 28.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 4'503'915 4.52 (646'415) 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 3'482'397 3.49 (277'402) 31.03.2013 Hedge Fund Manager
NEUBERGER BERMAN LLC NEUBERGER BERMAN GRO 13F 3'118'300 3.13 224'200 31.03.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 1'502'600 1.51 95'000 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'141'496 1.15 (18'119) 31.03.2013 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
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 922'750 0.93 (71'300) 31.03.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 901'150 0.9 321'900 28.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 900'000 0.9 - 28.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 836'900 0.84 25'700 31.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 558'672 0.56 77'803 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 547'823 0.55 - 31.12.2012 Government
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 481'933 0.48 (9'867) 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 446'820 0.45 (49'400) 31.03.2013 Hedge Fund Manager
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 364'494 0.37 193'362 31.03.2013 Investment Advisor
PADCO ADVISORS INC Multiple Portfolios MF-AGG 333'781 0.33 11'600 31.05.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 298'727 0.3 (744'233) 31.03.2013 Pension Fund (ERISA)
GUGGENHEIM n/a ULT-AGG 285'801 0.29 (32'688) 31.03.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP underperform 1 D 3 12 month 28.06.2013
Salman Partners ASH GUGLANI buy 5 M 8 12 month 19.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT buy 5 M 7 Not Provided 17.06.2013
Haywood Securities Inc. BENJAMIN ASUNCION buy 5 M 6 12 month 12.06.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 M 9 Not Provided 02.06.2013
GMP CHELSEA HAMILTON buy 5 M 6 Not Provided 29.05.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 22.05.2013
Raymond James CHRIS THOMPSON outperform 5 M 9 12 month 07.05.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 6 12 month 07.05.2013
Holdings By:
Endeavour Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (12.11.2012) 10.03
52-Week Low (28.06.2013) 2.71
Daily Volume
3.3
52-Week High % Change -67.10% Dividend Yield -
52-Week Low % Change 21.77% Beta 1.26
% 52 Week Price Range High/Low 8.06% Equity Float 103.21
Shares Out 31.05.2013 126.4 Short Int 0.41
417.27 1 Yr Total Return -49.92%
Total Debt 0.00 YTD Return -62.71%
Preferred Stock 0.0 Adjusted BETA 1.259
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 83.89 Consensus Rating 4.000
Enterprise Value 236.48
Average Volume 5 Day 705'812
CNL CN EQUITY YTD Change - Average Volume 30 Day 462'830
CNL CN EQUITY YTD % CHANGE - Average Volume 3 Month 578'355
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 0.0 0.0 0.0 - 0.0 0.0 1.8 1.5 - -
- - - - - #DIV/0! #DIV/0! - - - -
(0.6) (4.2) (10.7) (11.8) - (6.7) (5.0) (12.3) (9.5) - -
- - - - - 0.00x 0.00x - - - -
(0.6) (4.1) (119.1) 18.2 (7.9) (11.3) (13.6) (12.4) (12.8) - -
- - - 38.93x - 0.00x 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 -5.55% Short-Term Rating -
Return on Common Equity -6.03%
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 -
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
858'099.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BANK OF NOVA SCOTIA n/a ULT-AGG 18'776'800 14.85 116'400 28.02.2013 Bank
WELLINGTON MANAGEMEN n/a Co File 16'205'564 12.82 1'985'981 31.03.2013 Investment Advisor
BULLET HOLDING CORP n/a SEDI 8'024'456 6.35 (200'000) 05.10.2012 Holding Company
VAN ECK ASSOCIATES C n/a ULT-AGG 7'640'303 6.04 68'760 28.06.2013 Investment Advisor
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 4'839'018 3.83 (1'100) 28.03.2013 Bank
REINDEER CAPITAL LTD n/a SEDI 3'668'490 2.9 (250'000) 21.12.2012 Other
HARTFORD INVESTMENT Multiple Portfolios MF-AGG 3'023'105 2.39 175'495 31.05.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 2'548'837 2.02 277'037 31.12.2012 Hedge Fund Manager
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 2'488'200 1.97 16'800 28.02.2013 Investment Advisor
EXPERT FUNDING CORP n/a SEDI 2'316'327 1.83 (35'000) 02.11.2012 Corporation
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 2'251'350 1.78 896'200 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 2'236'400 1.77 20'000 30.04.2013 Investment Advisor
CARMIGNAC GESTION Multiple Portfolios MF-AGG 2'141'942 1.69 (188'058) 29.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 1'659'000 1.31 329'000 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'567'461 1.24 495'815 31.03.2013 Investment Advisor
SUSSMAN ARI B n/a SEDI 1'191'576 0.94 42'425 13.05.2013 n/a
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 1'163'429 0.92 - 28.06.2013 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
Stifel CRAIG P STANLEY hold 3 M #N/A N/A Not Provided 28.06.2013
Clarus Securities JAMIE SPRATT speculative buy 4 M 9 12 month 25.06.2013
TD Securities DANIEL EARLE speculative buy 4 M 9 12 month 19.06.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 9 Not Provided 18.06.2013
GMP GEORGE V ALBINO buy 5 M 12 12 month 17.06.2013
Raymond James GARY J BASCHUK Under Review #N/A N/A M #N/A N/A Not Provided 18.04.2013
RBC Capital Markets DAN ROLLINS sector perform 3 M 11 12 month 07.01.2013
Holdings By:
Continental Gold Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (17.09.2012) 3.80
52-Week Low (27.06.2013) 1.23
Daily Volume
1.35
52-Week High % Change -64.47% Dividend Yield 0.00
52-Week Low % Change 9.76% Beta 1.28
% 52 Week Price Range High/Low 4.67% Equity Float 274.34
Shares Out 31.05.2013 288.5 Short Int 2.33
389.46 1 Yr Total Return -56.59%
Total Debt 0.44 YTD Return -47.06%
Preferred Stock 0.0 Adjusted BETA 1.277
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 171.99 Consensus Rating 4.250
Enterprise Value 241.89
Average Volume 5 Day 985'546
RMX CN EQUITY YTD Change - Average Volume 30 Day 699'557
RMX CN EQUITY YTD % CHANGE - Average Volume 3 Month 773'295
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 0.0 0.0 0.0 0.0 0.0 0.0 - 66.9 - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.4) (4.6) (25.4) (21.6) (11.6) (21.9) (11.8) (13.7) 19.2 - -
- - - - - 0.00x 0.00x - 12.60x - -
(2.4) (0.6) (25.5) (21.4) (10.4) (21.5) (10.4) (10.1) 7.9 - -
- - - - - 0.00x 0.00x - 43.55x 675.00x 61.36x
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 -2.18% Short-Term Rating -
Return on Common Equity -2.26%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin - Total Debt/EBITDA -0.03
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
1'239'218.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 28'491'142 9.88 5'755'275 31.03.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 13'599'600 4.71 (183'500) 31.03.2013 Investment Advisor
GREYWOLF CAPITAL MAN GREYWOLF CAPITAL MAN 13F 12'987'200 4.5 3'862'200 31.03.2013 Hedge Fund Manager
AGNICO-EAGLE MINES L n/a 13D 10'671'827 3.7 (11'000'000) 01.06.2012 Corporation
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 7'263'300 2.52 - 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 5'002'102 1.73 1'345'750 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 4'815'492 1.67 (22'525) 31.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 3'708'273 1.29 441'768 28.06.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 2'770'500 0.96 75'100 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 2'556'175 0.89 (1'949) 27.06.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'247'666 0.78 (164'800) 31.03.2013 Pension Fund (ERISA)
CAPITAL TACTICS ADVI CAPITAL TACTICS ADVI 13F 1'992'710 0.69 (35'900) 31.03.2013 Hedge Fund Manager
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 1'938'402 0.67 814'628 31.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'661'675 0.58 200'100 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 1'560'601 0.54 - 31.12.2012 Government
ADAMSON DAVID W n/a SEDI 1'535'189 0.53 107'000 04.02.2013 n/a
LOEWS CORPORATION LOEWS CORPORATION 13F 1'401'817 0.49 - 31.03.2013 Corporation
SHARE SICAV Multiple Portfolios MF-AGG 1'244'300 0.43 22'000 31.12.2012 Investment Advisor
D E SHAW & COMPANY I D E SHAW & CO 13F 1'175'037 0.41 (217'500) 31.03.2013 Hedge Fund Manager
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'019'385 0.35 1'019'385 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
GMP GEORGE V ALBINO buy 5 M 3 12 month 27.06.2013
TD Securities DANIEL EARLE speculative buy 4 M 3 12 month 26.06.2013
BMO Capital Markets ANDREW KAIP market perform 3 M 2 Not Provided 25.06.2013
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] |
01.07.2013
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: 03/2013
LTM as of: 03/yy
52-Week High (14.09.2012) 6.86
52-Week Low (24.06.2013) 2.36
Daily Volume
2.82
52-Week High % Change -58.89% Dividend Yield -
52-Week Low % Change 19.49% Beta 0.96
% 52 Week Price Range High/Low 10.22% Equity Float 164.93
Shares Out 31.05.2013 170.8 Short Int 5.98
481.60 1 Yr Total Return -47.71%
Total Debt 0.00 YTD Return -44.03%
Preferred Stock 0.0 Adjusted BETA 0.959
Minority Interest 77.7 Analyst Recs 4
Cash and Equivalents 117.91 Consensus Rating 4.500
Enterprise Value 441.36
Average Volume 5 Day 1'340'372
SVM US EQUITY YTD Change - Average Volume 30 Day 1'052'389
SVM US EQUITY YTD % CHANGE - Average Volume 3 Month 1'149'572
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
31.03.2009 31.03.2010 31.03.2011 31.03.2012 31.03.2013 03/yy 03/yy 03/14 Y 03/15 Y 06/13 Q1 09/13 Q2
83.5 107.2 167.3 238.0 181.6 238.0 181.6 254.0 354.0 - -
3.67x 9.86x 14.29x 4.61x 3.52x 20.33x 18.67x 1.74x 1.27x - -
40.4 66.4 110.3 155.3 90.5 155.3 90.8 118.5 189.0 - -
7.59x 15.92x 21.68x 7.06x 7.06x 7.06x 7.03x 3.73x 2.34x - -
(16.0) 38.5 67.7 73.8 27.2 73.8 27.2 50.7 84.9 - -
- - - - - 0.00x 0.00x 9.40x 5.70x 14.84x -
EBITDA 90.49 Long-Term Rating Date -
EBIT 75.91 Long-Term Rating -
Operating Margin 41.79% Long-Term Outlook -
Pretax Margin 39.23% Short-Term Rating Date -
Return on Assets 4.73% Short-Term Rating -
Return on Common Equity 6.37%
Return on Capital 8.34% EBITDA/Interest Exp. 983.62
Asset Turnover 0.32% (EBITDA-Capex)/Interest Exp. -7.66
Net Debt/EBITDA -1.30
Gross Margin 59.8% Total Debt/EBITDA 0.00
EBITDA Margin 50.0%
EBIT Margin 42.0% Total Debt/Equity 0.0%
Net Income Margin 15.0% Total Debt/Capital 0.0%
Asset Turnover 0.32
Current Ratio 2.78 Net Fixed Asset Turnover 0.49
Quick Ratio 2.51 Accounts receivable turnover-days 14.42
Debt to Assets 0.00% Inventory Days 36.45
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 131.72
Accounts Receivable Turnover 25.32 Cash Conversion Cycle -80.41
Inventory Turnover 10.01
Fiscal Year Ended
Silvercorp Metals IncPrice/Volume
Valuation Analysis
1'833'653.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 17'994'480 10.54 1'507'271 28.06.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 5'068'400 2.97 863'400 31.03.2013 Hedge Fund Manager
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 4'484'200 2.63 (1'325'850) 31.03.2013 Investment Advisor
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
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 2'207'900 1.29 510'000 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 2'176'845 1.27 (33'942) 31.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'644'860 0.96 44'900 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'393'690 0.82 - 31.03.2013 Pension Fund (ERISA)
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'065'516 0.62 (39'797) 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 976'053 0.57 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 961'280 0.56 55'500 31.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 888'000 0.52 - 31.03.2013 Investment Advisor
IA CLARINGTON INVEST Multiple Portfolios MF-AGG 810'200 0.47 - 31.12.2012 Investment Advisor
GAO JIANGUO n/a SEDI 803'713 0.47 2'990 16.09.2011 n/a
ROYAL BANK OF CANADA n/a ULT-AGG 701'217 0.41 157'314 31.03.2013 Bank
UBS n/a ULT-AGG 653'024 0.38 (49'295) 31.03.2013 Unclassified
INVESCO LTD n/a ULT-AGG 651'294 0.38 (29'089) 28.06.2013 Investment Advisor
SIMPSON S PAUL n/a PROXY 648'005 0.38 - 17.08.2012 n/a
GOLDMAN SACHS GROUP n/a ULT-AGG 644'603 0.38 (50'126) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP market perform 3 M 5 Not Provided 24.06.2013
Salman Partners ASH GUGLANI buy 5 M 5 12 month 19.06.2013
Raymond James BRAD HUMPHREY outperform 5 M 6 12 month 24.05.2013
EVA Dimensions CRAIG STERLING buy 5 M #N/A N/A Not Provided 21.05.2013
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] |
01.07.2013
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 (26.06.2013) 0.53
Daily Volume
0.575
52-Week High % Change -73.13% Dividend Yield 0.00
52-Week Low % Change 8.49% Beta 1.23
% 52 Week Price Range High/Low 2.48% Equity Float 442.71
Shares Out 31.12.2012 708.1 Short Int 22.11
407.15 1 Yr Total Return -61.02%
Total Debt 35.85 YTD Return -66.37%
Preferred Stock 0.0 Adjusted BETA 1.233
Minority Interest 0.0 Analyst Recs 15
Cash and Equivalents 141.78 Consensus Rating 4.133
Enterprise Value 442.23
Average Volume 5 Day 3'321'902
EVN AU EQUITY YTD Change - Average Volume 30 Day 3'308'971
EVN AU EQUITY YTD % CHANGE - Average Volume 3 Month 3'909'905
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 - - 608.9 684.0 - -
- - 13.04x 2.11x 2.00x - - 0.85x 0.62x - -
(2.3) (3.3) 2.9 29.7 190.4 - - 233.4 269.5 - -
- - 99.74x 8.65x 4.92x - - 1.89x 1.64x - -
(2.3) (3.3) 5.5 (2.3) 37.3 - - 58.4 71.4 - -
- - 41.35x - 20.77x - - 6.93x 5.81x - -
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
2'690'474.00
Current Price (7/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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01.07.2013
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 85'084'420 12.02 7'973'829 25.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 50'810'629 7.18 7'214'914 28.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 19'373'176 2.74 4'417 27.06.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 11'341'660 1.6 - 27.12.2012 Investment Advisor
WALKER DONALD ROBIN n/a Co File 6'015'385 0.85 - 17.09.2012 n/a
KLEIN JACOB n/a EXCH 5'800'000 0.82 50'000 05.02.2013 n/a
Trinity Management P n/a Co File 5'382'930 0.76 - 17.09.2012 Unclassified
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 5'000'000 0.71 - 30.04.2013 Investment Advisor
AMP LIFE LTD n/a Co File 4'933'179 0.7 - 17.09.2012 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 4'500'000 0.64 - 28.03.2013 Investment Advisor
LUJETA PTY LTD n/a Co File 4'220'000 0.6 - 17.09.2012 Corporation
FRANKLIN RESOURCES n/a ULT-AGG 4'050'000 0.57 - 28.03.2013 Investment Advisor
CREASY MARK GARETH n/a Co File 3'856'176 0.54 - 17.09.2012 n/a
JJ HOLDINGS (VIC) PT n/a Co File 3'552'009 0.5 - 30.08.2012 Other
NORGES BANK Multiple Portfolios MF-AGG 3'182'195 0.45 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'701'033 0.38 302'373 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 2'566'395 0.36 - 30.04.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 2'493'191 0.35 (20'500) 31.03.2013 Hedge Fund Manager
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 2'377'918 0.34 (18'512) 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs BRETT COTTRELL neutral/attractive 3 M 1 12 month 26.06.2013
Deutsche Bank CHRIS TERRY hold 3 M 1 12 month 25.06.2013
Morgan Stanley CAMERON O'NEILL Equalwt/Attractive 3 N 1 12 month 25.06.2013
Nomura AMBER MACKINNON suspended coverage #N/A N/A M #N/A N/A Not Provided 24.06.2013
Macquarie MITCH RYAN outperform 5 M 1 12 month 18.06.2013
Paterson Securities MATTHEW TRIVETT buy 5 M 1 12 month 13.06.2013
RBC Capital Markets GEOFF BREEN outperform 5 M 1 12 month 06.06.2013
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Investec COLIN MCLELLAND buy 5 M 1 12 month 04.06.2013
JPMorgan JOSEPH KIM neutral 3 M 1 6 month 24.05.2013
BBY Limited KURT WORDEN strong buy 5 M 1 12 month 24.04.2013
Credit Suisse MICHAEL SLIFIRSKI outperform 5 U 1 Not Provided 23.04.2013
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] |
01.07.2013
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
1.29
52-Week High % Change -20.37% Dividend Yield 0.00
52-Week Low % Change 19.44% Beta 0.58
% 52 Week Price Range High/Low 38.89% Equity Float 3'550.71
Shares Out 31.12.2012 4'350.7 Short Int -
5'612.44 1 Yr Total Return 0.00%
Total Debt 2'289.17 YTD Return -12.84%
Preferred Stock 0.0 Adjusted BETA 0.583
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 100.19 Consensus Rating 5.000
Enterprise Value 7'801.42
Average Volume 5 Day 5'061'229
1194 HK EQUITY YTD Change - Average Volume 30 Day 9'350'243
1194 HK EQUITY YTD % CHANGE - Average Volume 3 Month 7'258'301
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 - - 1'806.0 2'353.0 - -
1.97x 167.09x 37.32x 5.56x 5.31x - - 4.09x 2.98x - -
(51.4) 5.1 116.1 824.5 1'119.6 - - 1'113.0 1'354.0 - -
- 639.25x 54.07x 7.55x 7.71x - - 7.01x 5.76x - -
(52.2) (29.2) 21.9 417.4 445.1 - - 507.5 647.3 - -
- - 72.08x 12.00x 12.13x - - 9.92x 8.22x - -
EBITDA 1'119.57 Long-Term Rating Date -
EBIT 850.89 Long-Term Rating -
Operating Margin 52.33% 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 8.62% EBITDA/Interest Exp. 4.03
Asset Turnover 0.21% (EBITDA-Capex)/Interest Exp. 0.10
Net Debt/EBITDA 1.96
Gross Margin 63.9% Total Debt/EBITDA 2.04
EBITDA Margin 68.9%
EBIT Margin 52.3% Total Debt/Equity 40.8%
Net Income Margin 27.4% Total Debt/Capital 29.0%
Asset Turnover 0.21
Current Ratio 0.42 Net Fixed Asset Turnover 1.11
Quick Ratio 0.23 Accounts receivable turnover-days 29.33
Debt to Assets 24.60% Inventory Days 39.24
Tot Debt to Common Equity 40.84% Accounts Payable Turnover Day 5.63
Accounts Receivable Turnover 12.48 Cash Conversion Cycle 62.95
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
2'756'000.00
Current Price (7/dd/yy) Market Data
'''-----..
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1'000.0
1'500.0
2'000.0
2'500.0
3'000.0
3'500.0
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5'000.0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012'!''
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01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MUNSUN GL MINING INV n/a EXCH 312'576'000 7.18 (126'190'000) 02.05.2013 Investment Advisor
YIM YANG CHANG n/a EXCH 307'206'000 7.06 24'900'000 26.10.2012 n/a
CHINA INTERNATIONAL n/a EXCH 279'650'000 6.43 28'964'000 18.06.2013 Investment Advisor
ASWELL GROUP LTD n/a EXCH 257'196'670 5.91 - 16.10.2012 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 239'602'000 5.51 2'026'000 28.06.2013 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 n/a ULT-AGG 22'500'000 0.52 - 29.03.2013 Investment Advisor
SIMPLE BEST LTD n/a EXCH 16'682'000 0.38 (50'000'000) 07.10.2011 Other
NORGES BANK Multiple Portfolios MF-AGG 15'562'110 0.36 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 15'208'000 0.35 794'000 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 11'022'000 0.25 24'000 27.06.2013 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
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 4'035'933 0.09 - 28.06.2013 Investment Advisor
STATE STREET n/a ULT-AGG 3'366'000 0.08 - 28.06.2013 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
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Daiwa Securities Co. Ltd. JOEY CHEN buy 5 M 2 Not Provided 23.05.2013
BOCOM International Holdings BENJAMIN PEI long-term buy 5 D 2 Not Provided 20.05.2013
Argonaut Securities Pty Ltd CHRIS JIANG buy 5 M 2 Not Provided 19.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (14.09.2012) 20.34
52-Week Low (28.06.2013) 8.23
Daily Volume
9.43
52-Week High % Change -53.63% Dividend Yield -
52-Week Low % Change 14.58% Beta 0.92
% 52 Week Price Range High/Low 9.91% Equity Float 41.47
Shares Out 31.05.2013 45.6 Short Int 4.77
429.60 1 Yr Total Return -34.92%
Total Debt 0.00 YTD Return -47.52%
Preferred Stock 0.0 Adjusted BETA 0.919
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 52.04 Consensus Rating 4.000
Enterprise Value 408.81
Average Volume 5 Day 680'716
SA US EQUITY YTD Change - Average Volume 30 Day 410'079
SA US EQUITY YTD % CHANGE - Average Volume 3 Month 384'575
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 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) (5.1) (15.0) (16.0) - -
- - - - - 0.00x 0.00x - - - -
10.3 (4.7) 3.3 (20.1) (12.5) (18.3) (14.1) - - - -
- - - - - 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 -5.76% Short-Term Rating -
Return on Common Equity -6.05%
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
767'073.00
Current Price (7/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
0.9
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PAN ATLANTIC BANK n/a PROXY 8'001'232 17.56 - 06.05.2013 Bank
VAN ECK ASSOCIATES C n/a ULT-AGG 6'613'905 14.52 661'363 28.06.2013 Investment Advisor
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 - 31.03.2013 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 - 06.05.2013 n/a
FMR LLC n/a ULT-AGG 601'905 1.32 - 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 572'976 1.26 115'079 31.03.2013 Investment Advisor
FCMI FINANCIAL CORP n/a PROXY 555'000 1.22 - 06.05.2013 Corporation
BRISTOL INVESTMENT P BRISTOL INVESTMENT P 13F 478'467 1.05 (203'241) 31.03.2013 Hedge Fund Manager
FNDTN FOR STUDY OBJ n/a PROXY 425'334 0.93 - 06.05.2013 Other
FIDEURAM GESTIONS SA Multiple Portfolios MF-AGG 385'000 0.85 (30'000) 03.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 344'050 0.76 (465'199) 27.06.2013 Investment Advisor
FOX LOUIS J n/a PROXY 300'750 0.66 - 06.05.2013 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 - 06.05.2013 n/a
NORGES BANK NORGES BANK 13F 235'224 0.52 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 199'794 0.44 21'035 31.03.2013 Investment Advisor
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 167'000 0.37 - 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 28 12 month 26.06.2013
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 22 12 month 03.06.2013
Holdings By:
Seabridge Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (28.06.2013) 0.49
Daily Volume
0.51
52-Week High % Change -55.07% Dividend Yield 0.00
52-Week Low % Change 5.15% Beta 1.25
% 52 Week Price Range High/Low 2.31% Equity Float 669.18
Shares Out 28.06.2013 788.3 Short Int 55.31
402.02 1 Yr Total Return -18.40%
Total Debt 132.84 YTD Return -47.96%
Preferred Stock 0.0 Adjusted BETA 1.247
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 5.38 Consensus Rating 4.643
Enterprise Value 529.48
Average Volume 5 Day 8'072'287
BDR AU EQUITY YTD Change - Average Volume 30 Day 7'333'885
BDR AU EQUITY YTD % CHANGE - Average Volume 3 Month 8'086'335
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 - - 305.3 331.2 - -
- - 28.44x - 976.94x - - 1.26x 0.84x - -
(5.9) (3.9) (7.5) (35.3) (14.0) - - 147.4 174.7 - -
- - - - - - - 3.59x 3.03x - -
(5.3) (3.9) (8.3) (34.8) (43.0) - - 118.1 137.0 - -
- - - - - - - 3.89x 3.13x - -
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
6'219'639.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
COLUMBIA WANGER ASSE n/a EXCH 77'350'646 9.81 - 24.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 57'959'639 7.35 12'464'715 28.06.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 39'552'582 5.02 - 13.05.2013 Investment Advisor
COUPLAND CARDIFF ASS n/a Co File 37'132'343 4.71 - 18.02.2013 Hedge Fund Manager
L1 CAPITAL PTY LTD n/a EXCH 23'660'753 3 (21'000'000) 22.11.2012 Investment Advisor
BOWLER PETER n/a EXCH 21'043'333 2.67 - 18.06.2013 n/a
FRANKLIN RESOURCES n/a ULT-AGG 19'652'465 2.49 70'000 28.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 16'604'550 2.11 (57'504) 27.06.2013 Investment Advisor
OZ MINERALS INVESTME n/a Co File 12'800'000 1.62 - 28.03.2013 Unclassified
LUJETA PTY LTD n/a Co File 12'100'000 1.53 - 28.03.2013 Corporation
FMR LLC n/a ULT-AGG 11'653'618 1.48 - 30.04.2013 Investment Advisor
BARRETT GREGORY MICH n/a Co File 9'351'651 1.19 - 28.03.2013 n/a
LEIBOWITZ ANTHONY HO n/a EXCH 8'586'457 1.09 263'091 30.11.2012 n/a
AMP LIFE LTD n/a Co File 6'724'506 0.85 - 28.03.2013 Investment Advisor
WATKINS ROBERT n/a EXCH 6'650'001 0.84 500'000 28.06.2013 n/a
NORGES BANK Multiple Portfolios MF-AGG 4'785'317 0.61 - 31.12.2012 Government
AMERIPRISE FINANCIAL n/a EXCH 4'708'336 0.6 - 24.06.2013 Investment Advisor
TWYNAM AGRICULTURAL n/a Co File 3'975'000 0.5 (2'000'000) 28.03.2013 Other
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'801'493 0.48 414'888 31.03.2013 Investment Advisor
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 3'675'833 0.47 (21'582) 30.09.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Shaw Stockbroking VINCENT PISANI buy 5 M 1 Not Provided 26.06.2013
Ord Minnett DAVID BRENNAN buy 5 M 1 Not Provided 24.06.2013
Macquarie MITCH RYAN outperform 5 M 1 12 month 17.06.2013
EVA Dimensions TIMOTHY STANISH sell 1 M #N/A N/A Not Provided 06.06.2013
GMP LEVI SPRY buy 5 M 1 Not Provided 29.05.2013
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
Casimir Capital ERIC ALLISON overweight 5 M 2 12 month 16.01.2013
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] |
01.07.2013
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 (27.06.2013) 0.56
Daily Volume
0.59
52-Week High % Change -71.63% Dividend Yield 8.47
52-Week Low % Change 5.36% Beta 1.18
% 52 Week Price Range High/Low 2.63% Equity Float 506.93
Shares Out 01.07.2013 641.0 Short Int 7.00
378.19 1 Yr Total Return -55.15%
Total Debt 11.02 YTD Return -64.02%
Preferred Stock 0.0 Adjusted BETA 1.183
Minority Interest (33.3) Analyst Recs 13
Cash and Equivalents 48.78 Consensus Rating 3.769
Enterprise Value 317.06
Average Volume 5 Day 5'045'271
RSG AU EQUITY YTD Change - Average Volume 30 Day 6'953'538
RSG AU EQUITY YTD % CHANGE - Average Volume 3 Month 5'920'208
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 - - 659.5 576.6 - -
2.48x 1.12x 1.49x 1.36x 1.37x - - 0.39x 0.46x - -
20.9 57.3 80.3 110.0 254.4 - - 273.0 204.5 - -
27.45x 5.85x 6.23x 5.49x 3.10x - - 1.16x 1.55x - -
(56.7) 30.7 (37.2) 59.7 105.1 - - 145.0 83.3 - -
- 6.17x - 8.72x 7.25x - - 2.55x 4.88x - -
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
4'560'641.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
UTILICO INVESTMENTS n/a EXCH 122'029'227 19.04 1'000'000 21.05.2013 Investment Advisor
ALLIANCE LIFE COMMON n/a EXCH 62'989'484 9.83 - 21.05.2013 n/a
VAN ECK ASSOCIATES C n/a ULT-AGG 47'186'677 7.36 13'495'137 28.06.2013 Investment Advisor
BANK OF AMERICA CORP n/a EXCH 39'392'367 6.15 (9'442'393) 10.05.2012 Investment Advisor
PRUDENTIAL PLC n/a ULT-AGG 37'350'000 5.83 (7'250'000) 15.05.2013 Unclassified
VINVA INVESTMENT MGM n/a EXCH 32'497'591 5.07 - 31.01.2013 Investment Advisor
CF RUFFER BAKER STEE n/a EXCH 19'097'479 2.98 (3'846'391) 04.04.2012 n/a
RUFFER LLP Multiple Portfolios MF-AGG 12'576'000 1.96 - 27.12.2012 Investment Advisor
UTILICO EMERGING MAR n/a EXCH 8'000'000 1.25 - 21.05.2013 Investment Advisor
ECLECTIC INVEST TRUS n/a EXCH 7'350'000 1.15 2'000'000 21.05.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 5'344'844 0.83 188'900 30.04.2013 Investment Advisor
PERMANENT INVESTMENT n/a EXCH 5'010'643 0.78 (4'989'357) 12.07.2012 Other
DIMENSIONAL FUND ADV n/a ULT-AGG 4'915'429 0.77 - 29.03.2013 Investment Advisor
GENUS DYNAMIC GOLD F n/a EXCH 4'811'000 0.75 - 23.02.2012 n/a
BAKER STEEL CAPITAL n/a EXCH 4'300'000 0.67 - 04.04.2012 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 3'713'389 0.58 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 3'621'289 0.56 192'015 31.03.2013 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 0.47 - 30.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 1 12 month 01.07.2013
Morgan Stanley BRENDAN FITZPATRICK Equalwt/In-Line 3 M 1 12 month 28.06.2013
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
GMP LEVI SPRY buy 5 M 1 Not Provided 29.05.2013
Canaccord Genuity Corp REG SPENCER sell 1 M 1 12 month 13.05.2013
Veritas Securities MATTHEW BAILLIE buy 5 M 2 Not Provided 30.04.2013
Bell Potter STEPHEN THOMAS buy 5 M 2 12 month 24.04.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 2 Not Provided 15.04.2013
Foster Stockbroking CRAIG BROWN buy 5 U 2 Not Provided 25.01.2013
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] |
01.07.2013
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: 03/yy
52-Week High (10.10.2012) 2.56
52-Week Low (28.06.2013) 0.42
Daily Volume
0.56
52-Week High % Change -78.13% Dividend Yield 0.00
52-Week Low % Change 34.94% Beta 1.10
% 52 Week Price Range High/Low 6.76% Equity Float 406.80
Shares Out 31.05.2013 412.5 Short Int 0.55
230.99 1 Yr Total Return -74.77%
Total Debt 201.83 YTD Return -72.95%
Preferred Stock 0.0 Adjusted BETA 1.100
Minority Interest 75.0 Analyst Recs 5
Cash and Equivalents 113.67 Consensus Rating 4.800
Enterprise Value 394.12
Average Volume 5 Day 4'635'289
EDV CN EQUITY YTD Change - Average Volume 30 Day 2'392'465
EDV CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'164'485
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 03/yy 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
109.2 (219.3) 167.1 145.6 346.1 193.0 385.0 479.7 571.7 109.0 114.0
- - - 3.93x 2.81x 6.42x 5.32x - - - -
- (237.2) 130.7 43.3 136.2 70.0 100.9 191.3 217.5 - -
- - - 13.22x 7.14x 7.66x 0.00x 2.06x 1.81x - -
57.1 (241.8) 125.3 (23.5) (8.6) (44.4) 24.8 43.6 6.6 - -
3.99x - 1.70x - - 0.00x 14.83x 4.06x 6.59x 4.09x 3.26x
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
5'808'804.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 26'364'292 6.39 238'022 28.06.2013 Investment Advisor
SENTRY SELECT CAPITA n/a Co File 20'147'799 4.88 - 31.10.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 9'321'000 2.26 526'000 27.12.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 9'035'988 2.19 8'494'987 31.12.2012 Hedge Fund Manager
FMR LLC n/a ULT-AGG 8'804'330 2.13 (5'257'500) 30.04.2013 Investment Advisor
ROYCE AND ASSOCIATES n/a 13G 4'850'000 1.18 (500'000) 31.12.2011 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 3'700'000 0.9 - 30.04.2013 Investment Advisor
ASHDELL LTD n/a PROXY 2'800'000 0.68 - 01.05.2013 Other
DIMENSIONAL FUND ADV n/a ULT-AGG 2'607'777 0.63 - 29.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 2'328'144 0.56 - 27.06.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'918'223 0.47 421'209 31.03.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 1'877'316 0.46 - 31.12.2012 Government
WELLS FARGO n/a ULT-AGG 1'155'630 0.28 200'338 30.04.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 1'109'284 0.27 - 28.06.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'094'899 0.27 1'094'899 28.03.2013 Investment Advisor
CONNELLY MARK n/a SEDI 855'000 0.21 - 12.12.2011 n/a
DWS INVESTMENT SA Multiple Portfolios MF-AGG 800'000 0.19 - 30.04.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 700'000 0.17 - 29.04.2013 Investment Advisor
WOODYER NEIL n/a SEDI 447'127 0.11 50'000 19.04.2013 n/a
JP MORGAN n/a ULT-AGG 389'000 0.09 (4'368'617) 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs EUGENE KING Buy/Neutral 5 M 1 12 month 30.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 3 12 month 25.06.2013
Raymond James BRAD HUMPHREY outperform 5 M 3 12 month 12.06.2013
GMP ANDREW MIKITCHOOK buy 5 M 2 Not Provided 29.05.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 M 2 Not Provided 11.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 5.85
52-Week Low (16.05.2013) 2.65
Daily Volume
3.5
52-Week High % Change -40.17% Dividend Yield 0.00
52-Week Low % Change 32.08% Beta 1.48
% 52 Week Price Range High/Low 26.56% Equity Float 124.53
Shares Out 31.05.2013 125.3 Short Int 0.34
438.57 1 Yr Total Return 0.57%
Total Debt 2.70 YTD Return -15.66%
Preferred Stock 0.0 Adjusted BETA 1.478
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 64.74 Consensus Rating 4.000
Enterprise Value 351.60
Average Volume 5 Day 560'481
FVI CN EQUITY YTD Change - Average Volume 30 Day 566'338
FVI CN EQUITY YTD % CHANGE - Average Volume 3 Month 515'377
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
24.8 51.4 74.1 110.0 161.0 128.7 161.1 171.9 211.3 39.0 40.7
1.39x 3.01x 6.78x 5.78x 2.86x 17.74x 11.84x 2.09x 1.50x - -
0.1 21.3 34.1 48.8 70.7 59.4 65.1 69.4 94.9 9.7 14.4
401.05x 7.25x 14.71x 13.01x 6.51x 8.66x 7.29x 5.06x 3.70x - -
(0.9) 0.6 16.0 19.5 31.5 25.9 27.0 32.3 44.2 4.7 6.1
- 99.42x 34.34x 32.35x 15.45x 20.48x 18.73x 14.53x 10.60x 12.75x 10.98x
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 8.88% Short-Term Rating -
Return on Common Equity 10.53%
Return on Capital 10.55% EBITDA/Interest Exp. 125.83
Asset Turnover 0.53% (EBITDA-Capex)/Interest Exp. 46.04
Net Debt/EBITDA -1.00
Gross Margin 43.9% Total Debt/EBITDA 0.04
EBITDA Margin 40.4%
EBIT Margin 27.0% Total Debt/Equity 1.0%
Net Income Margin 19.5% Total Debt/Capital 1.0%
Asset Turnover 0.53
Current Ratio 5.72 Net Fixed Asset Turnover 0.79
Quick Ratio 4.96 Accounts receivable turnover-days 53.24
Debt to Assets 0.85% Inventory Days 47.82
Tot Debt to Common Equity 1.02% Accounts Payable Turnover Day 52.14
Accounts Receivable Turnover 6.86 Cash Conversion Cycle 61.77
Inventory Turnover 7.63
Fiscal Year Ended
Fortuna Silver Mines IncPrice/Volume
Valuation Analysis
1'074'250.00
Current Price (7/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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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 9'880'700 7.89 (643'800) 31.03.2013 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 - 31.03.2013 Hedge Fund Manager
MONTRUSCO BOLTON INV MONTRUSCO BOLTON INV 13F 3'994'740 3.19 1'487'550 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 2'187'340 1.75 180'272 27.06.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'641'307 1.31 1'641'307 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 1'380'838 1.1 (16'962) 31.03.2013 Investment Advisor
PUBLIC SECTOR PENSIO PUBLIC SECTOR PENSIO 13F 1'210'600 0.97 36'400 31.03.2013 Investment Advisor
AGF INVESTMENTS INC AGF INVESTMENTS INC 13F 1'169'500 0.93 (239'800) 31.03.2013 Investment Advisor
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 997'900 0.8 (289'500) 31.03.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 956'989 0.76 (180'200) 28.03.2013 Investment Advisor
CQS CAYMAN LP CQS CAYMAN LP 13F 750'000 0.6 (100'000) 31.03.2013 Hedge Fund Manager
POWER CORP OF CANADA n/a ULT-AGG 711'800 0.57 138'400 31.03.2013 Holding Company
CANADA PENSION PLAN CANADA PENSION PLAN 13F 704'591 0.56 206'500 31.03.2013 Pension Fund (ERISA)
VANGUARD GROUP INC Multiple Portfolios MF-AGG 615'180 0.49 47'900 31.03.2013 Investment Advisor
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
NORTHWEST MUTUAL FUN Multiple Portfolios MF-AGG 505'241 0.4 - 30.04.2013 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 462'200 0.37 - 31.03.2013 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
BMO Capital Markets ANDREW KAIP underperform 1 D 3 12 month 28.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 6 12 month 25.06.2013
Cormark Securities Inc. GRAEME JENNINGS market perform 3 M 5 12 month 25.06.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 5 12 month 24.06.2013
EVA Dimensions CRAIG STERLING overweight 5 U #N/A N/A Not Provided 21.06.2013
Raymond James CHRIS THOMPSON outperform 5 M 5 12 month 18.06.2013
CIBC World Markets LEON ESTERHUIZEN sector outperform 5 M 6 12 month 18.06.2013
Haywood Securities Inc. BENJAMIN ASUNCION hold 3 M 5 12 month 18.06.2013
Dundee Securities Corp CHRIS LICHTENHELDT buy 5 M 6 Not Provided 17.06.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 4 12 month 08.05.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 4 12 month 07.05.2013
Holdings By:
Fortuna Silver Mines Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
McEwen Mining Inc. is a high growth, low cost mid-tier gold producer in the
Americas.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (01.11.2012) 4.72
52-Week Low (26.06.2013) 1.63
Daily Volume
1.68
52-Week High % Change -64.38% Dividend Yield 0.00
52-Week Low % Change 3.07% Beta 1.41
% 52 Week Price Range High/Low 1.62% Equity Float 184.40
Shares Out 03.05.2013 258.6 Short Int 31.08
499.11 1 Yr Total Return -41.54%
Total Debt 0.00 YTD Return -56.14%
Preferred Stock 0.0 Adjusted BETA 1.412
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 70.92 Consensus Rating 4.000
Enterprise Value 453.99
Average Volume 5 Day 8'196'452
MUX US EQUITY YTD Change - Average Volume 30 Day 4'050'025
MUX US EQUITY YTD % CHANGE - Average Volume 3 Month 3'829'238
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 0.0 0.0 0.0 6.0 3.0 38.9 21.5 19.8 2.4 2.9
- - - - 178.15x 948.65x 99.45x - - - -
(19.7) (17.3) (29.0) (59.6) (92.3) (69.8) (66.8) 10.0 61.0 - -
- - - - - 0.00x 0.00x 45.40x 7.44x - -
(131.1) (27.7) (33.1) (61.9) (66.7) (70.5) (58.4) (21.3) (7.5) (3.2) (3.4)
- - - - - 0.00x 0.00x - 48.00x - -
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 -5.11% Short-Term Rating -
Return on Common Equity -6.66%
Return on Capital - EBITDA/Interest Exp. -
Asset Turnover 0.03% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -
Gross Margin 10.5% Total Debt/EBITDA 0.00
EBITDA Margin -172.0%
EBIT Margin -174.8% Total Debt/Equity 0.0%
Net Income Margin -1117.2% Total Debt/Capital 0.0%
Asset Turnover 0.03
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 101.38
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 188.52
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 3.60
Fiscal Year Ended
McEwen Mining IncPrice/Volume
Valuation Analysis
27'070'206.00
Current Price (7/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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01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
MCEWEN ROBERT R n/a Form 4 73'428'564 28.4 - 18.04.2013 n/a
VAN ECK ASSOCIATES C n/a ULT-AGG 14'825'787 5.73 2'112'575 28.06.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 13'257'883 5.13 (77'738) 27.06.2013 Investment Advisor
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 10'796'918 4.18 (90'000) 31.03.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 8'798'586 3.4 (3'843'036) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 7'321'268 2.83 (2'501'373) 31.03.2013 Investment Advisor
JENNISON ASSOCIATES JENNISON ASSOCIATES 13F 6'747'005 2.61 (79'379) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 3'845'444 1.49 991'111 31.03.2013 Investment Advisor
STALEY CAPITAL ADVIS STALEY CAPITAL ADVIS 13F 3'200'440 1.24 753'503 31.03.2013 Hedge Fund Manager
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 2'998'509 1.16 (38'931) 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 2'696'531 1.04 450'000 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 2'166'610 0.84 (26'038) 31.03.2013 Investment Advisor
HORIZON KINETICS n/a ULT-AGG 1'770'336 0.68 (82'987) 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 1'735'340 0.67 (1'000'000) 31.03.2013 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 1'478'932 0.57 153'696 30.04.2013 Investment Advisor
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 1'410'913 0.55 - 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 1'166'475 0.45 73'405 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 1'152'810 0.45 295'800 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'104'843 0.43 27'168 31.03.2013 Investment Advisor
AEGIS FINANCIAL CORP AEGIS FINANCIAL CORP 13F 1'063'594 0.41 1'063'594 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 3 Not Provided 28.06.2013
Cowen and Company ADAM P GRAF outperform 5 M 4 12 month 26.06.2013
Euro Pacific Canada Inc MATTHEW ZYLSTRA buy 5 N 3 12 month 07.05.2013
EVA Dimensions CRAIG STERLING underweight 1 U #N/A N/A Not Provided 18.04.2013
Holdings By:
McEwen Mining Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (06.11.2012) 13.32
52-Week Low (26.06.2013) 5.34
Daily Volume
6.15
52-Week High % Change -53.83% Dividend Yield 0.00
52-Week Low % Change 15.17% Beta 1.76
% 52 Week Price Range High/Low 10.15% Equity Float 49.00
Shares Out 31.05.2013 60.1 Short Int 0.24
369.87 1 Yr Total Return -31.36%
Total Debt 0.00 YTD Return -39.53%
Preferred Stock 0.0 Adjusted BETA 1.758
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 41.05 Consensus Rating 4.500
Enterprise Value 331.84
Average Volume 5 Day 213'863
MAG CN EQUITY YTD Change - Average Volume 30 Day 190'621
MAG CN EQUITY YTD % CHANGE - Average Volume 3 Month 166'776
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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - -
- - - - - #DIV/0! #DIV/0! #DIV/0! #DIV/0! - -
(6.7) (9.4) (12.9) (9.5) (13.4) (9.6) (13.8) (10.8) (10.5) (3.5) (3.5)
- - - - - 0.00x 0.00x - - - -
(5.9) (13.5) (12.6) (8.3) (12.3) (7.6) (13.2) (11.1) (12.7) (3.5) (4.0)
- - - - - 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 -11.30% Short-Term Rating -
Return on Common Equity -11.54%
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
182'534.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 n/a 13G 6'265'424 10.42 1'037'863 26.06.2013 Hedge Fund Manager
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 4'329'250 7.2 1'805'500 31.03.2013 Hedge Fund Manager
T ROWE PRICE ASSOCIA T ROWE PRICE ASSOCIA 13F 3'597'500 5.98 2'224'600 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 2'832'219 4.71 25'536 28.06.2013 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 2.7 (544'950) 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'583'225 2.63 466'927 31.03.2013 Pension Fund (ERISA)
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 986'206 1.64 - 31.03.2013 Hedge Fund Manager
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 788'555 1.31 (10'525) 31.03.2013 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 764'000 1.27 4'000 31.03.2013 Investment Advisor
ANDREEFF EQUITY ADVI ANDREEFF EQUITY ADVI 13F 528'682 0.88 8'100 31.03.2013 Hedge Fund Manager
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 432'000 0.72 - 28.03.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 402'144 0.67 - 30.04.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 390'000 0.65 90'000 31.03.2013 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 - 31.03.2013 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 340'200 0.57 (200) 31.05.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 320'000 0.53 - 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 15 12 month 25.06.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M #N/A N/A Not Provided 24.06.2013
Macquarie MICHAEL GRAY outperform 5 M 14 12 month 24.05.2013
Raymond James DAVID SADOWSKI outperform 5 M 14 12 month 24.04.2013
Holdings By:
MAG Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (24.10.2012) 7.89
52-Week Low (12.07.2012) 2.53
Daily Volume
4.7
52-Week High % Change -40.43% Dividend Yield 0.00
52-Week Low % Change 85.77% Beta 1.49
% 52 Week Price Range High/Low 40.49% Equity Float 83.01
Shares Out 03.06.2013 115.4 Short Int 1.98
542.47 1 Yr Total Return 78.71%
Total Debt 40.00 YTD Return -26.56%
Preferred Stock 0.0 Adjusted BETA 1.494
Minority Interest 0.0 Analyst Recs 12
Cash and Equivalents 139.24 Consensus Rating 4.833
Enterprise Value 406.63
Average Volume 5 Day 524'866
P CN EQUITY YTD Change - Average Volume 30 Day 345'298
P CN EQUITY YTD % CHANGE - Average Volume 3 Month 330'575
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 0.0 60.3 156.5 182.9 166.6 185.3 200.6 250.8 57.8 51.8
- - 8.68x 1.80x 2.88x 6.89x 8.97x 1.89x 1.55x 6.76x 7.37x
(0.6) (0.6) 12.8 72.8 77.4 80.8 71.9 88.0 136.4 30.2 22.5
- - 40.81x 3.86x 6.79x 2.70x 7.52x 4.62x 2.98x 4.11x 3.89x
(0.7) (0.7) (31.5) 49.6 49.6 76.1 48.3 48.2 67.2 21.8 13.4
- - - 5.81x 11.91x 2.95x 13.08x 10.92x 8.17x 11.14x 10.27x
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 7.25% Short-Term Rating -
Return on Common Equity 8.68%
Return on Capital - EBITDA/Interest Exp. 26.82
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. 13.06
Net Debt/EBITDA -1.52
Gross Margin 58.7% Total Debt/EBITDA 0.45
EBITDA Margin 38.8%
EBIT Margin 22.8% Total Debt/Equity 7.0%
Net Income Margin 27.1% Total Debt/Capital 6.5%
Asset Turnover 0.28
Current Ratio 3.07 Net Fixed Asset Turnover 0.38
Quick Ratio 2.66 Accounts receivable turnover-days 10.52
Debt to Assets 5.97% Inventory Days 47.70
Tot Debt to Common Equity 7.00% Accounts Payable Turnover Day 173.68
Accounts Receivable Turnover 34.70 Cash Conversion Cycle -86.81
Inventory Turnover 7.65
Fiscal Year Ended
Primero Mining CorpPrice/Volume
Valuation Analysis
617'561.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOLDCORP INC n/a SEDI 31'151'200 26.99 (8'422'460) 12.10.2012 Corporation
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 7'443'290 6.45 (34'700) 31.03.2013 Hedge Fund Manager
FRANKLIN RESOURCES n/a ULT-AGG 7'016'800 6.08 68'800 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 6'354'449 5.51 (36) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'775'088 5 52'056 28.06.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 5'548'175 4.81 79'800 31.03.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 4'851'400 4.2 3'822'900 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 4'120'705 3.57 (297'524) 31.03.2013 Bank
O'SHAUGHNESSY ASSET O'SHAUGHNESSY ASSET 13F 1'895'988 1.64 108'693 31.03.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 1'707'777 1.48 (1'155'890) 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 1'452'000 1.26 (128'000) 31.03.2013 Hedge Fund Manager
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 1'116'000 0.97 - 28.03.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 1'076'900 0.93 - 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 918'600 0.8 (1'221'100) 31.03.2013 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 879'700 0.76 (144'400) 31.03.2013 Hedge Fund Manager
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 755'000 0.65 81'100 31.03.2013 Hedge Fund Manager
CONWAY JOSEPH F n/a SEDI 563'300 0.49 50'000 04.07.2012 n/a
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 548'800 0.48 548'800 31.03.2013 Investment Advisor
SPARK INVESTMENT MAN SPARK INVESTMENT MAN 13F 529'500 0.46 (53'300) 31.03.2013 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 510'100 0.44 (66'400) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
RBC Capital Markets DAN ROLLINS sector perform 3 M 7 12 month 24.06.2013
TD Securities STEVEN J GREEN buy 5 M 9 12 month 19.06.2013
EVA Dimensions CRAIG STERLING overweight 5 D #N/A N/A Not Provided 31.05.2013
GMP CHELSEA HAMILTON buy 5 M 8 Not Provided 29.05.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 9 12 month 23.05.2013
BMO Capital Markets BRIAN QUAST outperform 5 M 9 Not Provided 21.05.2013
Macquarie MICHAEL GRAY outperform 5 M 7 12 month 17.05.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 10 12 month 13.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 9 12 month 09.05.2013
CIBC World Markets CHITIMUKULU MUSONDA sector outperform 5 M 9 Not Provided 08.05.2013
Cantor Fitzgerald ROB CHANG buy 5 M 9 12 month 08.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 10 12 month 27.03.2013
Holdings By:
Primero Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (28.06.2013) 1.24
Daily Volume
1.335
52-Week High % Change -78.47% Dividend Yield 11.24
52-Week Low % Change 7.66% Beta 1.20
% 52 Week Price Range High/Low 0.50% Equity Float 134.99
Shares Out 12.04.2013 152.2 Short Int 6.65
203.18 1 Yr Total Return -71.52%
Total Debt 157.54 YTD Return -69.25%
Preferred Stock 0.0 Adjusted BETA 1.203
Minority Interest 0.0 Analyst Recs 13
Cash and Equivalents 90.62 Consensus Rating 2.615
Enterprise Value 334.84
Average Volume 5 Day 2'840'781
KCN AU EQUITY YTD Change - Average Volume 30 Day 2'471'004
KCN AU EQUITY YTD % CHANGE - Average Volume 3 Month 1'941'324
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 - - 339.1 362.4 - -
6.01x 5.46x 5.16x 6.69x 2.24x - - 0.98x 0.99x - -
19.6 (38.1) 84.7 66.8 164.9 - - 111.3 122.8 - -
22.77x - 10.74x 17.26x 4.86x - - 3.01x 2.73x - -
36.2 32.5 66.3 21.1 75.2 - - 20.9 29.0 - -
10.12x 19.20x 12.59x 42.78x 9.24x - - 6.68x 8.34x - -
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
2'249'079.00
Current Price (7/dd/yy) Market Data
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150.0
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300.0
350.0
400.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALLIANZ ASSET MANAGE n/a ULT-AGG 13'423'543 8.82 1'893'721 26.04.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 11'810'983 7.76 (299'029) 27.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 10'654'665 7 - 28.06.2013 Investment Advisor
FMR LLC n/a ULT-AGG 7'730'085 5.08 (221) 31.12.2012 Investment Advisor
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 5'550'000 3.65 50'000 28.02.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 4'693'651 3.08 - 27.12.2012 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 4'118'481 2.71 - 31.03.2013 Hedge Fund Manager
SMYTH-KIRK ROSS DONA n/a EXCH 3'706'582 2.44 - 03.04.2013 n/a
YANDAL INVESTMENTS P n/a Co File 3'442'939 2.26 - 14.09.2012 Investment Advisor
SILVER STANDARD AUS n/a Co File 3'440'367 2.26 - 14.09.2012 Unclassified
BIRD BRUCE CLAYTON n/a Co File 3'207'110 2.11 - 14.09.2012 n/a
AMP LIFE LTD n/a Co File 2'682'899 1.76 - 14.09.2012 Investment Advisor
LUJETA PTY LTD n/a Co File 2'643'982 1.74 - 14.09.2012 Corporation
PRUDENTIAL FINANCIAL n/a ULT-AGG 1'313'464 0.86 383'873 31.05.2013 Investment Advisor
KOMOR CHRIS & GRADY n/a Co File 1'097'462 0.72 - 14.09.2012 n/a
VANGUARD INVESTMENTS Multiple Portfolios MF-AGG 1'065'821 0.7 310'561 30.09.2012 Investment Advisor
SIXTEEN PTY LTD n/a Co File 1'050'000 0.69 - 14.09.2012 Unclassified
DIMENSIONAL FUND ADV n/a ULT-AGG 985'005 0.65 16'822 29.03.2013 Investment Advisor
THOMAS GAVIN n/a EXCH 946'403 0.62 - 06.05.2013 n/a
NORGES BANK Multiple Portfolios MF-AGG 944'190 0.62 - 31.12.2012 Government
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs PAUL HISSEY sell/attractive 1 M 1 12 month 28.06.2013
RBC Capital Markets STEUART MCINTYRE underperform 1 M 1 12 month 28.06.2013
Macquarie MITCH RYAN neutral 3 M 3 12 month 18.06.2013
BBY Limited KURT WORDEN strong buy 5 M 3 12 month 06.06.2013
EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013
Investec COLIN MCLELLAND hold 3 M 2 12 month 04.06.2013
BMO Capital Markets DAVID HAUGHTON market perform 3 M 5 Not Provided 03.06.2013
Baillieu Holst Ltd SOPHIE SPARTALIS sell 1 M 1 12 month 03.06.2013
Veritas Securities MATTHEW BAILLIE buy 5 M 3 Not Provided 30.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (13.11.2012) 3.48
52-Week Low (24.07.2012) 1.62
Daily Volume
2.32
52-Week High % Change -33.33% Dividend Yield 0.00
52-Week Low % Change 43.21% Beta 1.10
% 52 Week Price Range High/Low 37.63% Equity Float 137.58
Shares Out 31.05.2013 144.2 Short Int 0.20
334.45 1 Yr Total Return 24.06%
Total Debt 17.55 YTD Return -22.41%
Preferred Stock 0.0 Adjusted BETA 1.101
Minority Interest 0.0 Analyst Recs 15
Cash and Equivalents 24.06 Consensus Rating 4.333
Enterprise Value 324.82
Average Volume 5 Day 729'707
TMM CN EQUITY YTD Change - Average Volume 30 Day 539'886
TMM CN EQUITY YTD % CHANGE - Average Volume 3 Month 626'859
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 03/yy 12/13 Y 12/14 Y 06/13 Q2 09/13 Q3
0.0 0.0 0.0 84.4 156.1 105.8 166.2 197.0 214.1 47.0 46.2
- - - 4.15x 2.73x 12.87x 8.95x 1.43x 1.01x 6.80x 6.74x
(4.2) (3.5) (6.7) 43.5 68.5 56.7 76.0 86.9 89.8 17.5 19.9
- - - 8.05x 6.22x 5.63x 5.36x 3.74x 3.62x 4.25x 4.28x
(5.3) (3.4) (8.6) 11.5 36.1 21.2 45.5 50.4 49.7 10.6 9.2
- - - 27.89x 12.02x 14.12x 9.04x 7.01x 7.18x 7.07x 6.93x
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
698'345.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 25'551'300 17.72 262'100 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 10'590'719 7.35 95'616 28.06.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 8'131'210 5.64 70'979 31.03.2013 Bank
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 5'781'224 4.01 5'781'224 31.03.2013 Investment Advisor
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 5'253'300 3.64 161'700 31.03.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 3'810'200 2.64 860'000 31.03.2013 Hedge Fund Manager
RUFFER LLP Multiple Portfolios MF-AGG 3'706'900 2.57 - 27.12.2012 Investment Advisor
BRAGAGNOLO BRUCE n/a SEDI 2'878'000 2 (20'000) 21.06.2013 n/a
BANK OF NOVA SCOTIA n/a ULT-AGG 2'728'100 1.89 463'100 31.03.2013 Bank
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
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 2'217'500 1.54 536'400 31.03.2013 Investment Advisor
CIBC GLOBAL ASSET MA CIBC GLOBAL ASSET MA 13F 2'050'500 1.42 (1'661'700) 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 2'003'600 1.39 200'000 31.03.2013 Pension Fund (ERISA)
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 1'929'200 1.34 243'100 31.03.2013 Hedge Fund Manager
CQS CAYMAN LP CQS CAYMAN LP 13F 1'500'000 1.04 200'000 31.03.2013 Hedge Fund Manager
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 1'054'100 0.73 (35'600) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 820'191 0.57 63'043 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 698'391 0.48 (4'915) 31.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 659'429 0.46 83'000 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF market perform 3 M 2 12 month 26.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL sell 1 M 2 12 month 25.06.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 4 12 month 24.06.2013
TD Securities STEVEN J GREEN buy 5 M 4 12 month 19.06.2013
Casimir Capital STUART MCDOUGALL buy 5 M 4 Not Provided 17.06.2013
EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013
Stonecap Securities Inc BRIAN SZETO outperform 5 M 3 12 month 03.06.2013
BMO Capital Markets ANDREW KAIP market perform 3 N 3 Not Provided 30.05.2013
National Bank Financial SHANE NAGLE outperform 5 M 4 12 month 10.05.2013
Macquarie MICHAEL SIPERCO neutral 3 M 3 12 month 09.05.2013
Cormark Securities Inc. KYLE MCPHEE buy 5 M 3 12 month 09.05.2013
M Partners Inc ERIK BERMEL buy 5 M 4 12 month 09.05.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 4 12 month 08.05.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 4 12 month 08.05.2013
PI Financial Corp. PHILIP KER buy 5 M 3 12 month 08.05.2013
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] |
01.07.2013
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 (27.06.2013) 0.37
Daily Volume
0.465
52-Week High % Change -80.63% Dividend Yield 0.00
52-Week Low % Change 27.40% Beta 1.27
% 52 Week Price Range High/Low 4.18% Equity Float 486.24
Shares Out 31.12.2012 488.1 Short Int 23.09
226.95 1 Yr Total Return -73.73%
Total Debt 4.26 YTD Return -67.82%
Preferred Stock 0.0 Adjusted BETA 1.269
Minority Interest 0.0 Analyst Recs 12
Cash and Equivalents 185.40 Consensus Rating 4.250
Enterprise Value 377.70
Average Volume 5 Day 4'991'780
SBM AU EQUITY YTD Change - Average Volume 30 Day 4'094'313
SBM AU EQUITY YTD % CHANGE - Average Volume 3 Month 4'413'281
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 - - 523.3 623.6 - -
3.41x 1.33x 2.01x 1.58x 0.73x - - 0.71x 0.46x - -
(0.1) 50.3 77.2 109.3 224.1 - - 155.0 226.2 - -
- 7.42x 7.74x 5.21x 1.76x - - 2.44x 1.67x - -
(17.3) (76.3) (40.2) 68.6 130.2 - - 31.1 60.2 - -
- - - 9.29x 4.42x - - 6.12x 3.55x - -
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
3'497'480.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
PRUDENTIAL PLC n/a ULT-AGG 93'372'398 19.13 - 14.02.2013 Unclassified
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 28.06.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 36'215'568 7.42 - 28.03.2013 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
STATE STREET n/a ULT-AGG 12'749'179 2.61 79'914 28.06.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 12'528'000 2.57 - 27.12.2012 Investment Advisor
LSV ASSET MANAGEMENT n/a RNS-RUL8 11'363'061 2.33 684'600 23.07.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 11'351'052 2.33 400'193 27.06.2013 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 6'700'000 1.37 300'000 28.02.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 6'453'327 1.32 (2'151) 30.09.2012 Investment Advisor
JCP INVESTMENT PARTN n/a RNS-RUL8 6'032'951 1.24 (326'553) 09.08.2012 Investment Advisor
BANQUE DE LUXEMBOURG Multiple Portfolios MF-AGG 6'000'000 1.23 - 30.04.2013 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
FMR LLC n/a ULT-AGG 5'448'377 1.12 (90'000) 30.04.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs PAUL HISSEY neutral/attractive 3 M 1 12 month 26.06.2013
Deutsche Bank CHRIS TERRY buy 5 M 1 12 month 25.06.2013
Ord Minnett DAVID BRENNAN buy 5 M 1 Not Provided 24.06.2013
Nomura AMBER MACKINNON neutral 3 M 1 Not Provided 24.06.2013
RBC Capital Markets STEUART MCINTYRE outperform 5 M 1 12 month 18.06.2013
Macquarie MITCH RYAN outperform 5 M 1 12 month 18.06.2013
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Baillieu Holst Ltd SOPHIE SPARTALIS buy 5 M 1 12 month 27.05.2013
Canaccord Genuity Corp LUKE SMITH buy 5 M 1 12 month 13.05.2013
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] |
01.07.2013
Premier Gold Mines Limited is a mining and exploration company focused on
developing gold projects worldwide.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (21.09.2012) 6.79
52-Week Low (26.06.2013) 1.51
Daily Volume
1.83
52-Week High % Change -73.05% Dividend Yield 0.00
52-Week Low % Change 21.19% Beta 1.74
% 52 Week Price Range High/Low 6.06% Equity Float 144.53
Shares Out 31.05.2013 149.6 Short Int 1.51
273.73 1 Yr Total Return -58.41%
Total Debt 18.50 YTD Return -56.43%
Preferred Stock 0.0 Adjusted BETA 1.744
Minority Interest 40.6 Analyst Recs 12
Cash and Equivalents 85.10 Consensus Rating 4.167
Enterprise Value 213.66
Average Volume 5 Day 1'998'780
PG CN EQUITY YTD Change - Average Volume 30 Day 1'889'049
PG CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'576'504
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 0.0 0.0 0.0 0.0 0.0 0.9 - - - -
- - - - - #DIV/0! 2652.92x - - - -
(3.2) (6.2) (13.2) (11.9) (12.5) (6.8) (13.4) - - - -
- - - - - 0.00x 0.00x - - - -
0.2 (3.7) (10.9) (16.8) (32.1) (18.0) (8.9) 2.0 (32.0) - -
- - - - - 0.00x 0.00x 140.77x - - -
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 -2.15% Short-Term Rating -
Return on Common Equity -2.46%
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 -1.42
EBITDA Margin -1448.2%
EBIT Margin -1490.8% 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 285.31
Debt to Assets 3.85% Inventory Days -
Tot Debt to Common Equity 4.95% Accounts Payable Turnover Day 4878.55
Accounts Receivable Turnover 1.28 Cash Conversion Cycle -
Inventory Turnover -
Fiscal Year Ended
Premier Gold Mines LtdPrice/Volume
Valuation Analysis
2'187'802.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FMR LLC n/a ULT-AGG 19'258'570 12.88 - 30.04.2013 Investment Advisor
BANK OF NOVA SCOTIA n/a ULT-AGG 13'922'500 9.31 3'271'500 28.02.2013 Bank
VAN ECK ASSOCIATES C n/a ULT-AGG 10'988'812 7.35 99'216 28.06.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 7'648'501 5.11 (184'200) 28.02.2013 Investment Advisor
DOWNIE EWAN S n/a SEDI 3'130'601 2.09 7'500 24.04.2013 n/a
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 2'900'000 1.94 - 28.03.2013 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 1'318'700 0.88 - 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'166'300 0.78 (502'900) 31.03.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 957'245 0.64 1'845 27.06.2013 Investment Advisor
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 - 28.03.2013 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 0.53 (100'000) 31.05.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 720'847 0.48 54'600 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 705'900 0.47 - 31.12.2012 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 548'899 0.37 - 31.12.2012 Hedge Fund Manager
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 539'336 0.36 (16'800) 28.03.2013 Investment Advisor
SENTRY SELECT CAPITA Multiple Portfolios MF-AGG 430'800 0.29 - 30.06.2012 Investment Advisor
BHR FUND ADVISORS LP Multiple Portfolios MF-AGG 420'000 0.28 - 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 4 Not Provided 28.06.2013
Laurentian Bank Securities ERIC LEMIEUX speculative buy 4 M 4 12 month 28.06.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 5 12 month 27.06.2013
CIBC World Markets JEFF KILLEEN sector perform 3 M 7 12 month 27.06.2013
Cantor Fitzgerald ROB CHANG buy 5 M 6 12 month 27.06.2013
Scotia Capital OVAIS HABIB sector outperform 5 M 6 12 month 27.06.2013
Stonecap Securities Inc CHRISTOS DOULIS outperform 5 M 3 12 month 03.06.2013
Octagon Capital Corporation ANNIE ZHANG speculative buy 4 M 6 12 month 21.05.2013
Beacon Securities Ltd MICHAEL CURRAN buy 5 M 6 12 month 19.04.2013
Canaccord Genuity Corp STEVEN BUTLER speculative buy 4 M 7 12 month 11.04.2013
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] |
01.07.2013
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 (27.06.2013) 0.53
Daily Volume
0.635
52-Week High % Change -59.94% Dividend Yield 5.51
52-Week Low % Change 19.81% Beta 0.70
% 52 Week Price Range High/Low 5.21% Equity Float 330.47
Shares Out 14.05.2013 424.3 Short Int 7.96
269.42 1 Yr Total Return -14.67%
Total Debt 9.43 YTD Return -48.01%
Preferred Stock 0.0 Adjusted BETA 0.699
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 64.96 Consensus Rating 4.333
Enterprise Value 230.30
Average Volume 5 Day 4'682'136
NST AU EQUITY YTD Change - Average Volume 30 Day 3'548'678
NST AU EQUITY YTD % CHANGE - Average Volume 3 Month 3'907'220
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 - - 145.0 160.5 - -
- - - 1.11x 2.55x - - 1.50x 1.27x - -
(0.1) (5.1) (1.3) 45.1 47.5 - - 75.3 83.0 - -
- - - 2.83x 5.35x - - 3.06x 2.77x - -
(0.1) (4.7) (1.3) 16.3 22.0 - - 33.5 38.4 - -
- - - 7.80x 12.62x - - 8.47x 6.98x - -
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
3'840'558.00
Current Price (7/dd/yy) Market Data
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 37'540'183 8.85 5'258'897 27.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 26'706'283 6.29 3'981'558 28.06.2013 Investment Advisor
INVESTMET LTD 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 11'796'950 2.78 (6'900) 30.04.2013 Investment Advisor
DELTA RESOURCE MGMT n/a Co File 11'130'000 2.62 - 28.09.2012 Corporation
WYLLIE GROUP PTY LTD n/a Co File 9'170'360 2.16 - 28.09.2012 Other
FOTIOS MICHAEL GEORG n/a EXCH 7'103'474 1.67 (7'400'000) 30.11.2012 n/a
UBS n/a ULT-AGG 5'811'224 1.37 - 28.09.2012 Unclassified
ROWE CHRISTOPHER n/a EXCH 3'986'195 0.94 - 30.11.2012 n/a
BANK OF NOVA SCOTIA n/a ULT-AGG 3'350'000 0.79 3'350'000 31.12.2012 Bank
MORGAN STANLEY AUSTR n/a EXCH 3'202'580 0.75 (36'529'953) 04.12.2012 Investment Advisor
KYIM PTY LTD n/a Co File 3'048'000 0.72 - 28.09.2012 n/a
NAVIGATOR AUSTRALIA n/a Co File 2'587'146 0.61 - 28.09.2012 Corporation
LEEFAB PTY LTD n/a Co File 2'499'998 0.59 - 28.09.2012 n/a
MULTI METAL CONSULTA n/a Co File 2'455'125 0.58 - 28.09.2012 n/a
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 2'250'000 0.53 - 30.06.2012 Investment Advisor
TC CAPITAL LTD n/a Co File 2'180'000 0.51 - 28.09.2012 n/a
WILKINSON CATHERINE n/a Co File 2'165'000 0.51 - 28.09.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Ord Minnett DAVID BRENNAN buy 5 M 1 Not Provided 24.06.2013
Paterson Securities TIM MCCORMACK buy 5 M 1 12 month 13.06.2013
RBC Capital Markets STEUART MCINTYRE sector perform 3 M 1 12 month 06.06.2013
EVA Dimensions TIMOTHY STANISH hold 3 M #N/A N/A Not Provided 06.06.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 1 12 month 29.05.2013
Hartleys MIKE MILLIKAN buy 5 M 1 12 month 29.04.2013
Holdings By:
Northern Star Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (26.06.2013) 2.14
Daily Volume
2.7
52-Week High % Change -49.44% Dividend Yield -
52-Week Low % Change 26.17% Beta 1.22
% 52 Week Price Range High/Low 17.50% Equity Float 92.87
Shares Out 31.05.2013 100.8 Short Int 7.83
272.26 1 Yr Total Return -34.94%
Total Debt 2.07 YTD Return -38.78%
Preferred Stock 0.0 Adjusted BETA 1.219
Minority Interest 0.0 Analyst Recs 0
Cash and Equivalents 20.06 Consensus Rating -
Enterprise Value 272.89
Average Volume 5 Day 567'705
TRX US EQUITY YTD Change - Average Volume 30 Day 481'385
TRX US EQUITY YTD % CHANGE - Average Volume 3 Month 471'574
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
701'476.00
Current Price (7/dd/yy) Market Data
'
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0.1
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0.7
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 14'700'030 14.58 1'177'305 28.06.2013 Investment Advisor
GEIER GROUP LLC n/a 13G 4'879'743 4.84 (4'801'048) 10.11.2011 Other
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 3'383'846 3.36 (287'350) 31.03.2013 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 533'661 0.53 - 27.06.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 498'912 0.49 131'800 31.03.2013 Pension Fund (ERISA)
VANGUARD GROUP INC Multiple Portfolios MF-AGG 474'292 0.47 60'200 31.03.2013 Investment Advisor
MORROW ROSALIND n/a SEDI 445'065 0.44 15'636 04.06.2013 n/a
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
CITIGROUP INCORPORAT n/a ULT-AGG 287'556 0.29 102'344 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 270'808 0.27 - 28.06.2013 Investment Advisor
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 212'810 0.21 250 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 190'479 0.19 22'792 31.03.2013 Investment Advisor
LUIS VICTORIA n/a 20F 144'045 0.14 - 31.10.2012 n/a
DEUTSCHE BANK AG n/a ULT-AGG 141'479 0.14 (4'090) 31.03.2013 Investment Advisor
VAN TONGEREN STEVEN n/a SEDI 125'103 0.12 440 07.06.2013 n/a
BANK OF AMERICA CORP BANK OF AMERICA 13F 124'831 0.12 27'380 31.03.2013 Investment Advisor
ALTUS CAPITAL INC ALTUS CAPITAL INC 13F 104'500 0.1 56'500 31.03.2013 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] |
01.07.2013
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 (03.07.2012) 8.81
52-Week Low (03.07.2012) 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 0.328
Minority Interest 135.1 Analyst Recs 0
Cash and Equivalents 2'965.19 Consensus Rating -
Enterprise Value 3'824.13
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 (7/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
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
CITIGROUP INCORPORAT n/a ULT-AGG 242'773'628 26.71 - 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 - 28.06.2013 Investment Advisor
BANK OF NOVA SCOTIA n/a ULT-AGG 17'816'505 1.96 - 31.12.2012 Bank
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 - 30.04.2013 Investment Advisor
INVESTEC ASSET MANAG Multiple Portfolios MF-AGG 9'609'000 1.06 - 30.04.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 7'861'000 0.86 - 31.01.2013 Bank
JP MORGAN n/a ULT-AGG 6'089'500 0.67 - 28.02.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 4'353'500 0.48 - 30.06.2011 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 4'131'500 0.45 - 29.03.2013 Investment Advisor
DEKA INVESTMENT GMBH Multiple Portfolios MF-AGG 4'103'427 0.45 - 28.12.2012 Investment Advisor
FIDEURAM GESTIONS SA Multiple Portfolios MF-AGG 2'762'500 0.3 - 03.06.2013 Investment Advisor
ALLIANCE BERNSTEIN n/a ULT-AGG 2'500'500 0.28 - 30.04.2013 Investment Advisor
SANFORD C BERNSTEIN Multiple Portfolios MF-AGG 1'788'000 0.2 - 30.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'584'476 0.17 - 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
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] |
01.07.2013
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: 03/yy
52-Week High (16.10.2012) 2.11
52-Week Low (21.06.2013) 0.40
Daily Volume
0.42
52-Week High % Change -80.09% Dividend Yield 0.00
52-Week Low % Change 5.00% Beta 1.12
% 52 Week Price Range High/Low 1.17% Equity Float 257.63
Shares Out 31.05.2013 259.1 Short Int 17.61
108.82 1 Yr Total Return -63.79%
Total Debt 117.48 YTD Return -77.17%
Preferred Stock 0.0 Adjusted BETA 1.124
Minority Interest (2.0) Analyst Recs 10
Cash and Equivalents 78.88 Consensus Rating 2.200
Enterprise Value 155.60
Average Volume 5 Day 8'557'640
GSS US EQUITY YTD Change - Average Volume 30 Day 3'941'497
GSS US EQUITY YTD % CHANGE - Average Volume 3 Month 3'223'665
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
257.4 400.7 432.7 471.0 550.5 485.5 552.4 445.7 458.6 106.3 107.0
1.43x 1.99x 2.72x 0.98x 0.95x 4.31x 3.44x 0.39x 0.41x 1.53x 1.55x
1.8 136.7 107.6 91.8 124.7 94.4 117.0 57.8 112.1 15.2 18.6
200.09x 5.85x 10.93x 5.00x 4.18x 5.74x 3.95x 2.69x 1.39x 2.29x 2.22x
(119.3) 16.5 (11.2) (2.1) (9.5) 1.1 (25.2) (25.9) 19.2 (10.5) (7.1)
- 39.07x - - - 0.00x 0.00x - 6.00x - 32.31x
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 -3.45% Short-Term Rating -
Return on Common Equity -5.78%
Return on Capital - EBITDA/Interest Exp. 12.27
Asset Turnover 0.76% (EBITDA-Capex)/Interest Exp. 3.56
Net Debt/EBITDA 0.43
Gross Margin 9.6% Total Debt/EBITDA 0.95
EBITDA Margin 21.2%
EBIT Margin 2.9% 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 7.91
Debt to Assets 16.18% Inventory Days 61.01
Tot Debt to Common Equity 27.10% Accounts Payable Turnover Day 51.20
Accounts Receivable Turnover 46.13 Cash Conversion Cycle -1.28
Inventory Turnover 5.98
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
Golden Star Resources LtdPrice/Volume
Valuation Analysis
28'561'579.00
Current Price (7/dd/yy) Market Data
'
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200.0
300.0
400.0
500.0
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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] |
01.07.2013
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 3'237'877 28.06.2013 Investment Advisor
SENTRY SELECT CAPITA SENTRY SELECT CAPITA 13F 28'879'600 11.15 (1'359'000) 31.03.2013 Investment Advisor
HEARTLAND ADVISORS I HEARTLAND ADVISORS I 13F 26'830'259 10.35 844'389 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 10'793'356 4.17 723'887 27.06.2013 Investment Advisor
HILLSDALE INVESTMENT HILLSDALE INVESTMENT 13F 7'898'726 3.05 1'617'352 31.03.2013 Hedge Fund Manager
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 5'237'500 2.02 5'237'500 31.03.2013 Investment Advisor
ACADIAN ASSET MANAGE ACADIAN ASSET MANAGE 13F 4'819'436 1.86 (1'475'687) 31.03.2013 Investment Advisor
STATE STREET n/a ULT-AGG 4'558'095 1.76 12'016 31.03.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 4'350'000 1.68 4'350'000 31.03.2013 Hedge Fund Manager
WELLINGTON MANAGEMEN WELLINGTON MANAGEMEN 13F 3'221'423 1.24 (492'267) 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 3'178'325 1.23 (308'600) 31.03.2013 Pension Fund (ERISA)
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 2'972'612 1.15 (92'341) 31.03.2013 Investment Advisor
BATTERYMARCH FINANCI BATTERYMARCH FINANCI 13F 2'625'741 1.01 - 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 1'934'059 0.75 - 31.12.2012 Government
CITIGROUP INCORPORAT n/a ULT-AGG 1'870'572 0.72 1'267'792 31.03.2013 Investment Advisor
MD MANAGEMENT LTD Multiple Portfolios MF-AGG 1'795'127 0.69 (50'700) 31.03.2013 Investment Advisor
LEGG MASON CAPITAL M Multiple Portfolios MF-AGG 1'467'781 0.57 - 31.03.2013 Investment Advisor
PRINCIPAL FINANCIAL n/a ULT-AGG 1'271'090 0.49 (619'837) 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 1'235'376 0.48 (1'024'176) 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 1'175'635 0.45 455'015 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Credit Suisse ANITA SONI underperform 1 M 0 Not Provided 25.06.2013
Macquarie PIERRE VAILLANCOURT neutral 3 M 1 12 month 20.06.2013
BMO Capital Markets ANDREW BREICHMANAS underperform 1 M 1 Not Provided 18.06.2013
CIBC World Markets COSMOS CHIU sector underperform 1 M 1 18 month 18.06.2013
Scotia Capital TREVOR TURNBULL sector underperform 1 M 0 12 month 18.06.2013
Canaccord Genuity Corp RAHUL PAUL hold 3 M 1 12 month 17.06.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 M 2 12 month 17.06.2013
Raymond James BRAD HUMPHREY market perform 3 M 1 12 month 12.06.2013
EVA Dimensions CRAIG STERLING overweight 5 D #N/A N/A Not Provided 25.05.2013
Holdings By:
Golden Star Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (17.09.2012) 1.40
52-Week Low (21.05.2013) 0.31
Daily Volume
0.47
52-Week High % Change -66.43% Dividend Yield 0.00
52-Week Low % Change 54.10% Beta 1.43
% 52 Week Price Range High/Low 15.07% Equity Float 581.26
Shares Out 31.05.2013 585.5 Short Int 0.74
275.18 1 Yr Total Return -11.32%
Total Debt 0.00 YTD Return -38.96%
Preferred Stock 0.0 Adjusted BETA 1.431
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 64.78 Consensus Rating 4.167
Enterprise Value 212.27
Average Volume 5 Day 1'182'182
R CN EQUITY YTD Change - Average Volume 30 Day 1'243'448
R CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'445'675
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 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) (15.9) (11.6) (8.6) (7.1) - -
- - - - - 0.00x 0.00x - - - -
(4.5) (7.2) (66.2) (15.7) (11.9) (14.5) (12.0) (8.8) (7.3) - -
- - - - - 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
1'412'162.00
Current Price (7/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
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 122'133'079 20.86 1'507'579 27.06.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 45'178'500 7.72 (1'398'000) 28.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 42'984'688 7.34 388'320 28.06.2013 Investment Advisor
OPPENHEIMERFUNDS INC Multiple Portfolios MF-AGG 30'127'000 5.15 - 30.04.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 24'008'527 4.1 - 31.12.2012 Government
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 19'871'100 3.39 626'000 30.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 15'392'433 2.63 (37'300) 30.04.2013 Investment Advisor
COMMONWEALTH BANK OF Multiple Portfolios MF-AGG 11'682'793 2 (147'237) 28.02.2013 Bank
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 11'093'500 1.89 (147'500) 31.12.2012 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 8'551'000 1.46 - 27.12.2012 Investment Advisor
GAMCO n/a ULT-AGG 5'550'000 0.95 - 28.03.2013 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 - 31.01.2013 Bank
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 2'975'080 0.51 - 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'931'235 0.5 253'000 31.03.2013 Investment Advisor
SHARE SICAV Multiple Portfolios MF-AGG 2'828'384 0.48 (520'200) 31.12.2012 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
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets ANDREW KAIP market perform 3 M 1 Not Provided 27.06.2013
Paradigm Capital Inc DON BLYTH speculative buy 4 M 1 12 month 27.06.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 2 12 month 27.06.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 1 12 month 27.06.2013
RBC Capital Markets SAM CRITTENDEN sector perform 3 M 1 12 month 26.06.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 1 12 month 22.04.2013
Holdings By:
Romarco Minerals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (07.09.2012) 5.03
52-Week Low (26.06.2013) 0.65
Daily Volume
0.82
52-Week High % Change -83.70% Dividend Yield 0.00
52-Week Low % Change 26.15% Beta 2.00
% 52 Week Price Range High/Low 3.88% Equity Float 249.62
Shares Out 31.05.2013 252.1 Short Int 2.19
206.72 1 Yr Total Return -78.02%
Total Debt 154.69 YTD Return -70.50%
Preferred Stock 0.0 Adjusted BETA 1.998
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 27.05 Consensus Rating 2.833
Enterprise Value 353.63
Average Volume 5 Day 1'452'429
BAA CN EQUITY YTD Change - Average Volume 30 Day 1'609'382
BAA CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'871'250
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 0.0 0.0 0.0 42.6 0.0 75.8 140.3 342.7 32.6 24.6
- - - - 16.23x #DIV/0! 39.57x - - - -
(6.2) (7.6) (10.3) (10.2) 6.0 (11.0) 22.6 42.8 120.2 - -
- - - - 114.64x 0.00x 22.28x 8.26x 2.94x - -
(8.5) (4.8) (3.0) (9.3) (4.6) (11.3) 5.2 8.5 73.5 - -
9.34x - - - - 0.00x 57.06x 16.94x 2.17x 12.37x 5.03x
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 0.82% Short-Term Rating -
Return on Common Equity 1.23%
Return on Capital 1.48% EBITDA/Interest Exp. 2.62
Asset Turnover 0.12% (EBITDA-Capex)/Interest Exp. -57.93
Net Debt/EBITDA 6.96
Gross Margin 29.2% Total Debt/EBITDA 7.73
EBITDA Margin 29.8%
EBIT Margin 11.5% Total Debt/Equity 36.5%
Net Income Margin -10.7% Total Debt/Capital 26.8%
Asset Turnover 0.12
Current Ratio 1.06 Net Fixed Asset Turnover 0.17
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
1'904'117.00
Current Price (7/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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10.0
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35.0
40.0
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BLACKROCK n/a ULT-AGG 29'151'624 11.56 - 27.06.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 24'383'469 9.67 232'185 30.04.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 22'439'310 8.9 - 30.04.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 18'520'712 7.35 167'208 28.06.2013 Investment Advisor
IG INVESTMENT MANAGE IG INVESTMENT MANAGE 13F 16'980'300 6.74 2'913'300 31.03.2013 Investment Advisor
TRADEWINDS GLOBAL IN TRADEWINDS GLOBAL IN 13F 11'716'838 4.65 7'631'297 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
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 6'252'125 2.48 1'416'340 31.03.2013 Investment Advisor
NUVEEN ASSET MANAGEM Multiple Portfolios MF-AGG 4'649'372 1.84 1'084'709 31.05.2013 Investment Advisor
FMR LLC n/a ULT-AGG 2'466'182 0.98 (2'005'700) 31.03.2013 Investment Advisor
FIERA CAPITAL CORPOR FIERA CAPITAL CORPOR 13F 2'152'177 0.85 (4'660'861) 31.03.2013 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 1'944'700 0.77 65'300 31.03.2013 Investment Advisor
OPPENHEIMERFUNDS INC OPPENHEIMER FUNDS IN 13F 1'827'360 0.72 1'827'360 31.03.2013 Investment Advisor
FIERA CAPITAL CORPOR Multiple Portfolios MF-AGG 1'471'482 0.58 (1'425'300) 28.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'438'715 0.57 (865'900) 31.03.2013 Pension Fund (ERISA)
RUFFER LLP Multiple Portfolios MF-AGG 1'400'000 0.56 - 27.12.2012 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 1'347'995 0.53 (703'421) 31.03.2013 Investment Advisor
KONDRAT ARNOLD T n/a SEDI 1'226'048 0.49 100'000 30.04.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Goldman Sachs EUGENE KING Sell/Neutral 1 M 1 12 month 30.06.2013
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
GMP BROCK SALIER buy 5 M 2 Not Provided 29.05.2013
Cormark Securities Inc. MIKE KOZAK speculative buy 4 M 3 12 month 10.05.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 2 Not Provided 09.05.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 2 Not Provided 08.05.2013
Holdings By:
Banro Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (20.09.2012) 6.03
52-Week Low (26.06.2013) 0.95
Daily Volume
1.22
52-Week High % Change -79.77% Dividend Yield 0.00
52-Week Low % Change 28.42% Beta 1.66
% 52 Week Price Range High/Low 5.31% Equity Float 100.89
Shares Out 12.06.2013 124.9 Short Int 3.16
152.44 1 Yr Total Return -65.54%
Total Debt 72.14 YTD Return -73.54%
Preferred Stock 0.0 Adjusted BETA 1.657
Minority Interest 2.7 Analyst Recs 6
Cash and Equivalents 63.59 Consensus Rating 4.000
Enterprise Value 181.85
Average Volume 5 Day 1'535'934
CSI CN EQUITY YTD Change - Average Volume 30 Day 1'760'042
CSI CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'512'393
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 03/yy 03/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 10.6 166.8 - 0.8
- - - - - #DIV/0! #DIV/0! 14.45x 0.48x - 111.70x
(2.5) (2.7) (9.5) (29.3) (32.9) (32.7) (28.2) (13.8) 81.9 (6.7) (7.2)
- - - - - 0.00x 0.00x - 2.22x - -
(2.3) (4.6) (9.7) (32.1) (30.1) (37.0) (19.3) (16.7) 40.4 (8.5) (8.7)
- - - - - 0.00x 0.00x - 4.13x - -
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 -7.41% Short-Term Rating -
Return on Common Equity -14.70%
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 -2.35
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 2295.33
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover 0.00
Fiscal Year Ended
Colossus Minerals IncPrice/Volume
Valuation Analysis
1'721'781.00
Current Price (7/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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3
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0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
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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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ARIAS RESOURCE CAPIT n/a Co File 20'723'900 16.59 7'500'000 12.06.2013 Private Equity
ACUITY INVESTMENT MA n/a Co File 10'530'371 8.43 - 31.10.2012 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 10'062'391 8.05 77'607 28.06.2013 Investment Advisor
SPROTT ASSET MANAGEM n/a Co File 9'947'500 7.96 (1'572'900) 28.02.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 4'883'500 3.91 29'000 28.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'895'600 3.12 35'000 30.04.2013 Investment Advisor
SUSSMAN ARI B n/a SEDI 1'761'401 1.41 50'000 27.06.2012 n/a
MCLEAN BUDDEN LTD Multiple Portfolios MF-AGG 1'454'900 1.16 (43'080) 30.04.2013 Investment Advisor
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 1'093'732 0.88 (58'132) 28.02.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 1'049'000 0.84 - 28.02.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 1'032'633 0.83 (28'496) 31.12.2012 Investment Advisor
KISHIDA AUGUSTO n/a SEDI 958'000 0.77 - 09.08.2012 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 486'563 0.39 - 31.03.2013 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 483'369 0.39 (11'954) 30.04.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 321'612 0.26 - 28.03.2013 Investment Advisor
TCW GROUP INC Multiple Portfolios MF-AGG 300'000 0.24 300'000 31.05.2013 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 250'000 0.2 (275'000) 28.03.2013 Investment Advisor
FROSTIAK JOHN n/a SEDI 229'800 0.18 50'000 16.02.2013 n/a
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 207'600 0.17 - 31.01.2013 Investment Advisor
GAM INTERNATIONAL MA Multiple Portfolios MF-AGG 200'000 0.16 50'000 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 4 Not Provided 28.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 6 12 month 25.06.2013
Macquarie MICHAEL GRAY underperform 1 D 1 12 month 24.06.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 4 12 month 19.06.2013
GMP GEORGE V ALBINO buy 5 M 7 12 month 19.06.2013
Clarus Securities JAMIE SPRATT accumulate 4 M 3 12 month 19.06.2013
Holdings By:
Colossus Minerals Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Rainy River Resources Ltd. is a gold exploration and production company.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (10.10.2012) 6.17
52-Week Low (17.04.2013) 1.97
Daily Volume
3.55
52-Week High % Change -42.46% Dividend Yield 0.00
52-Week Low % Change 80.20% Beta 1.16
% 52 Week Price Range High/Low 37.62% Equity Float 98.02
Shares Out 31.05.2013 100.2 Short Int 0.70
355.81 1 Yr Total Return -12.13%
Total Debt 0.13 YTD Return -28.57%
Preferred Stock 0.0 Adjusted BETA 1.161
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 102.12 Consensus Rating 3.286
Enterprise Value 253.82
Average Volume 5 Day 7'761'707
RR CN EQUITY YTD Change - Average Volume 30 Day 5'729'237
RR CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'929'391
LTM-4Q LTM FY+1 FY+2 FQ+1 FQ+2
30.09.2008 30.09.2009 30.09.2010 30.09.2011 31.12.2012 03/yy 03/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 1.0 1.0 - -
- - - - - #DIV/0! #DIV/0! - - - -
(2.6) (4.2) (9.1) (16.1) (64.6) (31.6) (45.2) (14.9) (13.0) - -
- - - - - 0.00x 0.00x - - - -
(1.0) (3.6) (6.8) (13.5) (65.9) (29.6) (57.5) (24.7) (25.3) - -
- - - - - 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
7'315'408.00
Current Price (7/dd/yy) Market Data
'
-
.
0
1
2
3
4
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1.5
2.0
2.5
3.0
3.5
4.0
4.5
2000 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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 10'195'389 10.17 250'474 28.06.2013 Investment Advisor
CAISSE DE DEPOT ET P Multiple Portfolios MF-AGG 8'350'000 8.33 - 31.12.2012 Investment Advisor
SALIDA CAPITAL LP n/a Co File 8'043'070 8.02 (655'430) 30.11.2011 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 4'991'700 4.98 774'400 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 3'463'400 3.46 83'000 30.04.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 3'168'800 3.16 (2'100) 30.04.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 1'756'100 1.75 - 28.02.2013 Investment Advisor
BEREZAN LEO n/a PROXY 1'334'048 1.33 - 19.04.2013 n/a
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 890'000 0.89 90'000 28.03.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 830'000 0.83 118'000 29.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 644'838 0.64 1'236 27.06.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 572'953 0.57 - 28.06.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 461'000 0.46 61'400 31.03.2013 Investment Advisor
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 459'467 0.46 116'000 28.03.2013 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 445'300 0.44 (7'800) 31.12.2012 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 401'000 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 0.35 - 14.03.2012 n/a
UOB ASSET MANAGEMENT Multiple Portfolios MF-AGG 300'000 0.3 - 30.06.2012 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 268'787 0.27 - 28.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY hold 3 M #N/A N/A Not Provided 28.06.2013
Casimir Capital ERIC WINMILL tender #N/A N/A M #N/A N/A Not Provided 17.06.2013
CIBC World Markets JEFF KILLEEN sector perform 3 M 4 12 month 03.06.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 D 4 12 month 02.06.2013
BMO Capital Markets JOHN P HAYES restricted #N/A N/A M #N/A N/A Not Provided 31.05.2013
Scotia Capital LEILY OMOUMI sector outperform 5 M 4 12 month 31.05.2013
Desjardins Securities ADAM MELNYK hold 3 D 4 12 month 31.05.2013
RBC Capital Markets SAM CRITTENDEN sector perform 3 M 4 12 month 24.05.2013
Paradigm Capital Inc DON BLYTH hold 3 D 3 12 month 22.05.2013
Holdings By:
Rainy River Resources Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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
0.79
52-Week High % Change -45.21% Dividend Yield 0.00
52-Week Low % Change 19.70% Beta 1.48
% 52 Week Price Range High/Low 16.62% Equity Float 238.04
Shares Out 31.05.2013 270.7 Short Int 0.58
213.89 1 Yr Total Return -28.18%
Total Debt 0.00 YTD Return -15.05%
Preferred Stock 0.0 Adjusted BETA 1.478
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 47.34 Consensus Rating 4.818
Enterprise Value 194.06
Average Volume 5 Day 635'603
SUE CN EQUITY YTD Change - Average Volume 30 Day 1'172'956
SUE CN EQUITY YTD % CHANGE - Average Volume 3 Month 1'043'038
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) (4.2) (7.3) - -
- - - - - 0.00x 0.00x - - - -
(4.2) (2.6) (4.4) (10.3) (13.3) (13.6) (4.9) (4.6) (8.8) - -
- - - - - 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
700'167.00
Current Price (7/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] |
01.07.2013
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 19'908'806 7.35 179'568 28.06.2013 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 8'875'213 3.28 (642'587) 31.01.2013 Bank
POWER CORP OF CANADA n/a ULT-AGG 5'573'503 2.06 (8) 28.02.2013 Holding Company
FMR LLC n/a ULT-AGG 5'403'200 2 2'332'800 30.04.2013 Investment Advisor
BEUTEL GOODMAN & COM Multiple Portfolios MF-AGG 5'163'500 1.91 (2'800) 30.04.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 2'907'900 1.07 - 28.02.2013 Investment Advisor
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
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 - 31.03.2013 Investment Advisor
SWISSCANTO FONDSLEIT Multiple Portfolios MF-AGG 510'000 0.19 - 28.02.2013 Investment Advisor
AMIREAULT STEPHANE n/a SEDI 478'500 0.18 - 10.06.2013 n/a
NCF SOC ADMIN DE FON Multiple Portfolios MF-AGG 375'000 0.14 - 03.08.2011 Investment Advisor
CIBC GLOBAL ASSET MA Multiple Portfolios MF-AGG 367'131 0.14 - 31.05.2012 Investment Advisor
TAGLIAMONTE PETER W n/a SEDI 342'981 0.13 50'000 03.10.2012 n/a
BLACKROCK n/a ULT-AGG 285'690 0.11 3'139 27.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Haywood Securities Inc. KERRY SMITH buy 5 M 2 12 month 11.06.2013
Raymond James CHRIS THOMPSON outperform 5 N 2 12 month 31.05.2013
GMP GEORGE V ALBINO buy 5 M 2 Not Provided 29.05.2013
National Bank Financial STEPHEN PARSONS outperform 5 M 2 12 month 26.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 2 12 month 22.04.2013
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
Kallpa Securities SAB HUMBERTO LEON overweight 5 M 2 12 month 12.04.2013
Mine2Capital Inc ALKA SINGH buy 5 N 2 Not Provided 24.12.2012
Grupo Coril EDUARDO NORIEGA strong buy 5 M 2 Not Provided 18.11.2012
Seminarios SAB HUMBERTO AGURTO speculative buy 4 M 2 Not Provided 12.10.2012
Holdings By:
Sulliden Gold Corp Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (26.06.2013) 2.00
Daily Volume
2.25
52-Week High % Change -48.75% Dividend Yield 0.00
52-Week Low % Change 12.50% Beta 1.45
% 52 Week Price Range High/Low 10.46% Equity Float 75.26
Shares Out 31.05.2013 85.0 Short Int 0.14
191.33 1 Yr Total Return -26.23%
Total Debt 0.00 YTD Return -43.04%
Preferred Stock 0.0 Adjusted BETA 1.448
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 197.61 Consensus Rating 3.750
Enterprise Value -
Average Volume 5 Day 356'718
AKG CN EQUITY YTD Change - Average Volume 30 Day 271'552
AKG CN EQUITY YTD % CHANGE - Average Volume 3 Month 242'764
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 - 0.0 - -
- - - - - #DIV/0! #DIV/0! - - - -
(4.0) (3.2) (6.3) (38.4) (35.6) (49.2) (36.9) (15.9) (12.9) - -
- - - - - 0.00x 0.00x - - - -
(4.2) (3.7) (6.4) (34.9) (38.2) (41.4) (21.6) (19.8) (20.1) - -
- - - - - 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 -8.95% Short-Term Rating -
Return on Common Equity -9.73%
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
597'580.00
Current Price (7/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
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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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 8'900'057 10.47 840'782 28.06.2013 Investment Advisor
HIGHLAND PARK SA n/a SEDI 8'191'174 9.63 - 13.11.2012 Other
BEUTEL GOODMAN & COM n/a 13G 5'457'500 6.42 477'500 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 4'486'062 5.28 (10'797'099) 27.06.2013 Investment Advisor
SPROTT INC n/a 13G 3'702'527 4.35 (546'938) 31.12.2012 Hedge Fund Manager
POWER CORP OF CANADA n/a ULT-AGG 3'640'600 4.28 1'480'300 31.03.2013 Holding Company
JP MORGAN n/a ULT-AGG 3'234'225 3.8 - 30.04.2013 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 1'202'200 1.41 (46'700) 31.03.2013 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 690'256 0.81 21'712 31.03.2013 Bank
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 606'745 0.71 606'745 31.03.2013 Investment Advisor
FIL LIMITED n/a ULT-AGG 566'900 0.67 566'900 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 501'083 0.59 356'659 31.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 451'000 0.53 - 31.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 436'649 0.51 69'400 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 371'976 0.44 131'309 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 350'000 0.41 - 29.04.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 267'599 0.31 (12'274) 31.03.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 228'973 0.27 - 28.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 5 12 month 25.06.2013
Cormark Securities Inc. MIKE KOZAK speculative buy 4 M 4 12 month 25.06.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 3 Not Provided 20.06.2013
Clarus Securities NANA SANGMUAH buy 5 M 4 18 month 05.06.2013
RBC Capital Markets JONATHAN GUY sector perform 3 M 3 12 month 22.05.2013
CIBC World Markets JEFF KILLEEN sector perform 3 M 4 12 month 15.05.2013
Scotia Capital LEILY OMOUMI sector perform 3 M 5 12 month 14.05.2013
Jennings Capital DAN HRUSHEWSKY buy 5 M 5 12 month 14.05.2013
Holdings By:
Asanko Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (01.10.2012) 3.81
52-Week Low (26.06.2013) 1.17
Daily Volume
1.7
52-Week High % Change -55.38% Dividend Yield 0.00
52-Week Low % Change 45.30% Beta 1.35
% 52 Week Price Range High/Low 20.08% Equity Float 74.97
Shares Out 31.05.2013 92.2 Short Int 0.09
156.78 1 Yr Total Return -40.35%
Total Debt 0.00 YTD Return -49.55%
Preferred Stock 0.0 Adjusted BETA 1.349
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 68.45 Consensus Rating 3.600
Enterprise Value 85.79
Average Volume 5 Day 177'090
BCM CN EQUITY YTD Change - Average Volume 30 Day 150'157
BCM CN EQUITY YTD % CHANGE - Average Volume 3 Month 143'072
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 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) (32.6) (27.3) (24.7) (20.8) - -
- - - - - 0.00x 0.00x - - - -
(18.1) (8.7) (16.3) (29.7) (31.0) (34.0) (27.5) (19.6) (17.8) - -
- - - - - 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 -18.04% Short-Term Rating -
Return on Common Equity -18.49%
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
218'080.00
Current Price (7/dd/yy) Market Data
'
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.
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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] |
01.07.2013
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 - 22.04.2013 Corporation
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 9'422'575 10.22 20'000 31.03.2013 Hedge Fund Manager
SPROTT INC n/a Co File 9'042'064 9.8 (729'993) 30.04.2013 Hedge Fund Manager
ATLANTIC INVESTMENT ATLANTIC INVESTMENT 13F 8'584'360 9.31 216'810 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'496'512 5.96 49'536 28.06.2013 Investment Advisor
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 1'542'800 1.67 - 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 1'498'438 1.62 - 28.06.2013 Investment Advisor
KEM CAPITAL LLC n/a PROXY 1'081'262 1.17 - 22.04.2013 Investment Advisor
MCLEOD-SELTZER CATHE n/a PROXY 966'562 1.05 - 22.04.2013 n/a
SWARTHOUT ANDREW T n/a SEDI 879'592 0.95 5'000 06.12.2012 n/a
PRUDENTIAL PLC n/a ULT-AGG 750'000 0.81 - 31.03.2013 Unclassified
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 - 28.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 457'000 0.5 - 31.03.2013 Investment Advisor
TWEDDLE FRANK R n/a PROXY 425'000 0.46 - 22.04.2013 n/a
DE WITT DAVID E n/a PROXY 375'650 0.41 - 22.04.2013 n/a
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 196'000 0.21 (8'600) 28.03.2013 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
BMO Capital Markets ANDREW KAIP market perform 3 D 1 12 month 28.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 5 12 month 25.06.2013
Paradigm Capital Inc DON BLYTH hold 3 D 3 12 month 22.05.2013
Raymond James BRAD HUMPHREY outperform 5 M 4 12 month 24.04.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 4 12 month 23.04.2013
Holdings By:
Bear Creek Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Paramount Gold and Silver Corporation explores for precious metals in Mexico.
Latest Fiscal Year: 06/2012
LTM as of: 03/yy
52-Week High (07.09.2012) 2.82
52-Week Low (27.06.2013) 1.04
Daily Volume
1.19
52-Week High % Change -57.80% Dividend Yield -
52-Week Low % Change 14.42% Beta 1.21
% 52 Week Price Range High/Low 8.43% Equity Float 123.63
Shares Out 31.05.2013 155.5 Short Int 14.85
185.08 1 Yr Total Return -50.42%
Total Debt 0.00 YTD Return -48.71%
Preferred Stock 0.0 Adjusted BETA 1.213
Minority Interest 0.0 Analyst Recs 1
Cash and Equivalents 20.00 Consensus Rating 5.000
Enterprise Value 168.14
Average Volume 5 Day 1'208'751
PZG US EQUITY YTD Change - Average Volume 30 Day 867'402
PZG US EQUITY YTD % CHANGE - Average Volume 3 Month 852'913
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
0.0 0.0 0.0 0.2 0.1 0.1 0.1 - - - -
- - - 2370.69x 4555.15x 14099.12x 22403.11x - - - -
(18.8) (7.3) (8.6) (11.6) (17.9) (15.9) (17.0) (9.0) (9.0) - -
- - - - - 0.00x 0.00x - - - -
(18.4) (7.2) (5.4) (28.5) (12.1) (3.7) (8.1) - - - -
- - - - - 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 -10.38% Short-Term Rating -
Return on Common Equity -11.51%
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 -27663.3%
EBIT Margin -27771.7% 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 8860.65
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day -
Accounts Receivable Turnover 0.04 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
1'706'574.00
Current Price (7/dd/yy) Market Data
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01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
FCMI FINANCIAL CORP n/a 13D 24'444'234 15.72 1'170'732 12.03.2013 Corporation
VAN ECK ASSOCIATES C n/a ULT-AGG 9'548'229 6.14 1'257'651 28.06.2013 Investment Advisor
VANGUARD GROUP INC VANGUARD GROUP INC 13F 6'329'298 4.07 (110'324) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 5'522'962 3.55 451'575 27.06.2013 Investment Advisor
CRUPI CHRISTOPHER n/a Form 4 4'004'766 2.57 12'000 26.06.2013 n/a
STATE STREET n/a ULT-AGG 2'108'527 1.36 (484) 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'491'776 0.96 (100'804) 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'042'771 0.67 325'683 31.03.2013 Investment Advisor
FRONK RUDI P n/a SEDI 1'025'000 0.66 800'000 10.01.2011 n/a
ROTHSCHILD & COMPAGN Multiple Portfolios MF-AGG 1'000'000 0.64 - 31.01.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 602'058 0.39 310'380 31.03.2013 Investment Advisor
MACKELLER IAN n/a 424B 577'500 0.37 - 19.04.2012 n/a
PORTOLA GROUP INCORP PORTOLA GROUP INCORP 13F 577'010 0.37 (43'050) 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 575'246 0.37 9'087 31.03.2013 Investment Advisor
AMERICAN INTERNATION n/a ULT-AGG 551'119 0.35 88'565 31.03.2013 Government
PORTER PARTNERS LP n/a 424B 446'250 0.29 - 19.04.2012 Other
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 444'859 0.29 (4'130) 31.03.2013 Investment Advisor
BARD ASSOCIATES INC BARD ASSOCIATES INC 13F 417'050 0.27 (3'400) 31.03.2013 Investment Advisor
TALKOT CAPITAL LLC TALKOT CAPITAL LLC 13F 400'000 0.26 - 31.03.2013 Hedge Fund Manager
KENNEDY SHAWN M n/a Form 4 364'735 0.23 (59'011) 04.03.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 2 12 month 26.06.2013
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] |
01.07.2013
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
4.42
52-Week High % Change -69.66% Dividend Yield 0.00
52-Week Low % Change 67.42% Beta 1.65
% 52 Week Price Range High/Low 14.92% Equity Float 60.80
Shares Out 31.05.2013 70.2 Short Int 9.32
310.07 1 Yr Total Return -59.67%
Total Debt 8.83 YTD Return -24.44%
Preferred Stock 0.0 Adjusted BETA 1.646
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 30.17 Consensus Rating 4.100
Enterprise Value 370.64
Average Volume 5 Day 898'246
KGI CN EQUITY YTD Change - Average Volume 30 Day 1'072'968
KGI CN EQUITY YTD % CHANGE - Average Volume 3 Month 935'679
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 51.2 103.3 159.8 149.6 139.2 154.7 236.0 49.7 45.5
9.87x 10.98x 9.15x 9.01x 5.53x 22.77x 20.90x 2.57x 1.76x 8.28x 8.80x
(1.0) (6.8) (7.6) 26.4 55.7 49.3 24.5 31.7 76.7 22.8 10.0
- - - 35.24x 15.86x 24.58x 19.82x 11.71x 4.83x 5.92x 6.54x
(3.3) (10.5) (12.3) 19.9 41.3 45.1 (9.8) 3.0 29.2 18.0 4.9
- - - 48.55x 22.63x 38.76x 0.00x 232.63x 11.08x 9.31x 9.15x
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
997'446.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
RESOLUTE FUNDS LTD n/a RNS-MAJ 5'700'000 8.13 750'000 17.06.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 4'643'659 6.62 - 28.06.2013 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
IA MICHAEL INVESTMEN Multiple Portfolios MF-AGG 3'100'000 4.42 800'000 28.03.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 2'804'148 4 - 28.02.2013 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
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 1'700'000 2.42 1'475'000 28.02.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 1'647'411 2.35 - 31.12.2012 Government
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 1'611'100 2.3 (38'500) 31.03.2013 Investment Advisor
SPROTT INC n/a Research 1'577'666 2.25 - 31.12.2012 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 - 28.03.2013 Unclassified
MONTRUSCO BOLTON INV Multiple Portfolios MF-AGG 721'115 1.03 12'425 30.04.2013 Investment Advisor
FMR LLC n/a ULT-AGG 706'000 1.01 - 30.04.2013 Investment Advisor
EMPIRE LIFE INSURANC Multiple Portfolios MF-AGG 544'236 0.78 76'236 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 400'063 0.57 770 27.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Panmure Gordon & Co Limited ALISON TURNER buy 5 M 6 Not Provided 20.06.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 5 Not Provided 18.06.2013
Desjardins Securities ADAM MELNYK buy 5 M 9 12 month 18.06.2013
Dundee Securities Corp JOE FAZZINI buy 5 M 8 Not Provided 18.06.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 18 12 month 18.06.2013
EVA Dimensions TIMOTHY STANISH sell 1 M #N/A N/A Not Provided 06.06.2013
Investec HUNTER HILLCOAT buy 5 M 6 12 month 04.06.2013
CIBC World Markets COSMOS CHIU sector perform 3 M 6 12 month 27.05.2013
Macquarie MICHAEL SIPERCO outperform 5 U 5 12 month 15.05.2013
Mirabaud Securities RICHARD MORGAN speculative buy 4 M 10 12 month 15.05.2013
Raymond James FORBES GEMMELL Under Review #N/A N/A M #N/A N/A Not Provided 05.02.2013
Holdings By:
Kirkland Lake Gold Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 04/yy
52-Week High (14.01.2013) 4.40
52-Week Low (26.06.2013) 1.16
Daily Volume
1.35
52-Week High % Change -69.32% Dividend Yield 0.00
52-Week Low % Change 16.38% Beta 1.60
% 52 Week Price Range High/Low 5.86% Equity Float 118.35
Shares Out 31.05.2013 126.1 Short Int 2.06
170.27 1 Yr Total Return -42.06%
Total Debt 0.00 YTD Return -57.01%
Preferred Stock 0.0 Adjusted BETA 1.597
Minority Interest 0.0 Analyst Recs 10
Cash and Equivalents 37.62 Consensus Rating 4.400
Enterprise Value 47.14
Average Volume 5 Day 641'780
GUY CN EQUITY YTD Change - Average Volume 30 Day 894'963
GUY CN EQUITY YTD % CHANGE - Average Volume 3 Month 685'966
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 04/yy 04/yy 10/13 Y 10/14 Y 07/13 Q3 10/13 Q4
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) (7.7) (10.1) (10.3) - -
- - - - - 0.00x 0.00x - - - -
(12.5) (6.7) (6.3) (5.1) (9.8) (11.9) (6.6) (9.8) (9.7) - -
- - - - - 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 -2.55% Short-Term Rating -
Return on Common Equity -2.58%
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
531'499.00
Current Price (7/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] |
01.07.2013
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 21'508'350 17.05 (2'131'200) 31.05.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 9'265'848 7.35 83'654 28.06.2013 Investment Advisor
ACUITY INVESTMENT MA n/a Co File 8'051'804 6.38 (3'647'450) 30.11.2010 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 5'182'586 4.11 150'388 30.04.2013 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 4'045'013 3.21 436'500 31.03.2013 Hedge Fund Manager
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 2'650'000 2.1 350'000 28.03.2013 Investment Advisor
RAIFFEISEN KAPITALAN Multiple Portfolios MF-AGG 2'095'800 1.66 137'100 28.03.2013 Investment Advisor
NORGES BANK Multiple Portfolios MF-AGG 1'513'804 1.2 - 31.12.2012 Government
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
VANGUARD GROUP INC Multiple Portfolios MF-AGG 597'180 0.47 149'549 31.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 590'000 0.47 - 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 550'000 0.44 (2'988'804) 31.12.2012 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 250'000 0.2 (50'000) 28.03.2013 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
PO ALEXANDER n/a SEDI 215'000 0.17 35'000 07.03.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 5 12 month 26.06.2013
Salman Partners DAVID WEST buy 5 M 6 12 month 19.06.2013
TD Securities DANIEL EARLE speculative buy 4 M 4 12 month 19.06.2013
Casimir Capital STUART MCDOUGALL speculative buy 4 M 8 Not Provided 17.06.2013
Raymond James BRAD HUMPHREY outperform 5 M 4 12 month 12.06.2013
BMO Capital Markets ANDREW KAIP speculative outperform 4 M 5 Not Provided 03.06.2013
Paradigm Capital Inc DON BLYTH speculative buy 4 M 3 12 month 22.05.2013
Scotia Capital TREVOR TURNBULL sector perform 3 M 4 12 month 21.05.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 5 12 month 22.04.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 U 6 12 month 15.01.2013
Holdings By:
Guyana Goldfields Inc ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (28.06.2013) 50.00
Daily Volume
53.5
52-Week High % Change -58.50% Dividend Yield 11.89
52-Week Low % Change 7.00% Beta 0.97
% 52 Week Price Range High/Low 4.75% Equity Float 56.68
Shares Out 31.12.2012 325.2 Short Int -
173.99 1 Yr Total Return -45.34%
Total Debt 8.75 YTD Return -42.53%
Preferred Stock 0.0 Adjusted BETA 0.970
Minority Interest 2.2 Analyst Recs 9
Cash and Equivalents 61.35 Consensus Rating 4.333
Enterprise Value 214.42
Average Volume 5 Day 982'786
HGM LN EQUITY YTD Change - Average Volume 30 Day 1'029'568
HGM LN EQUITY YTD % CHANGE - Average Volume 3 Month 836'492
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 01/yy 01/yy 12/13 Y 12/14 Y - -
149.1 164.7 243.6 300.2 351.8 - - 382.7 460.8 - -
1.02x 2.05x 3.16x 2.75x 1.31x - - 1.17x 1.10x - -
38.7 56.5 120.3 156.5 162.2 - - 157.1 194.8 - -
3.92x 5.97x 6.40x 5.27x 2.83x - - 1.36x 1.10x - -
(232.4) 78.8 122.3 103.8 122.9 - - 86.1 105.8 - -
- 5.92x 7.81x 9.14x 4.15x - - 3.05x 2.51x - -
EBITDA 162.15 Long-Term Rating Date -
EBIT 125.34 Long-Term Rating -
Operating Margin 35.63% 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. 123.31
Asset Turnover 0.42% (EBITDA-Capex)/Interest Exp. 28.23
Net Debt/EBITDA -0.32
Gross Margin 41.6% Total Debt/EBITDA 0.05
EBITDA Margin 46.1%
EBIT Margin 35.6% 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 2.12 Accounts receivable turnover-days 8.43
Debt to Assets 0.96% Inventory Days 112.73
Tot Debt to Common Equity 1.11% Accounts Payable Turnover Day 13.09
Accounts Receivable Turnover 43.40 Cash Conversion Cycle 108.07
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
9'557.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 35'059'245 10.78 1'000'000 20.06.2013 n/a
PROTSVETANIYE HOLDIN n/a RNS-MAJ 22'879'845 7.04 3'371'722 24.04.2013 Holding Company
JP MORGAN n/a ULT-AGG 21'698'201 6.67 (114'656) 30.04.2013 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
LANCRENAN INVESTMENT n/a RNS-MAJ 9'786'032 3.01 - 12.04.2013 Unclassified
NORGES BANK Multiple Portfolios MF-AGG 9'094'169 2.8 - 31.12.2012 Government
PROSPERITY CAPITAL M PROSPERITY VOSKHOD F MF-PART 8'402'720 2.58 - 31.05.2013 Investment Advisor
EAST CAPITAL ASSET M Multiple Portfolios MF-AGG 8'062'000 2.48 (27'000) 31.03.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 5'812'049 1.79 51'768 28.06.2013 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 - 28.03.2013 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
BLACKROCK n/a ULT-AGG 1'314'170 0.4 (54'955) 27.06.2013 Investment Advisor
PARVEST INVESTMENT M Multiple Portfolios MF-AGG 900'000 0.28 - 31.12.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Numis Securities Ltd CAILEY BARKER buy 5 M 170 Not Provided 24.06.2013
Otkritie Capital ANDY JONES buy 5 M 122 Not Provided 14.06.2013
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Westhouse Securities NICK HATCH buy 5 M 135 12 month 29.05.2013
VTB Capital NIKOLAY SOSNOVSKIY sell 1 M 70 12 month 21.05.2013
Sberbank CIB MIKHAIL STISKIN buy 5 M 121 Not Provided 20.05.2013
Fox-Davies Capital PETER ROSE buy 5 M 157 12 month 24.04.2013
VSA Capital Ltd CHARLIE LONG buy 5 M 175 12 month 16.04.2013
Alfa-Bank BARRY EHRLICH equalweight 3 M 126 Not Provided 26.02.2013
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] |
01.07.2013
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 (10.07.2012) 0.39
52-Week Low (13.06.2013) 0.20
Daily Volume
0.265
52-Week High % Change -32.05% Dividend Yield 0.00
52-Week Low % Change 32.50% Beta 1.01
% 52 Week Price Range High/Low 34.21% Equity Float 431.29
Shares Out 31.12.2012 1'203.1 Short Int 1.39
318.83 1 Yr Total Return -22.06%
Total Debt 0.00 YTD Return 10.42%
Preferred Stock 0.0 Adjusted BETA 1.008
Minority Interest 0.0 Analyst Recs 1
Cash and Equivalents 235.04 Consensus Rating 5.000
Enterprise Value 83.80
Average Volume 5 Day 603'927
IRN AU EQUITY YTD Change - Average Volume 30 Day 1'784'640
IRN AU EQUITY YTD % CHANGE - Average Volume 3 Month 1'100'245
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
853'077.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
ALSONS DEVELOPMENT & n/a Co File 240'508'334 19.99 - 22.03.2013 Corporation
GLENCORE XSTRATA PLC n/a ULT-AGG 157'189'422 13.06 - 06.02.2012 Corporation
XSTRATA QUEENSLAND L n/a Co File 157'189'422 13.06 - 22.03.2013 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 59'366'360 4.93 476'672 28.06.2013 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
COASTAL VIEW EXPLORA n/a Co File 48'016'960 3.99 - 22.03.2013 Corporation
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
PHILEX MINING CORP n/a Co File 15'630'806 1.3 - 22.03.2013 Corporation
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
FIL LIMITED n/a ULT-AGG 7'192'750 0.6 - 31.10.2012 Investment Advisor
MATUTUM CONSOLIDATED n/a Co File 5'500'000 0.46 - 22.03.2013 Unclassified
DIMENSIONAL FUND ADV n/a ULT-AGG 5'392'977 0.45 - 29.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH buy 5 M #N/A N/A Not Provided 06.06.2013
Holdings By:
Indophil Resources NL ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Lydian International, Ltd. is a gold focused mineral exploration and
development company.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (05.09.2012) 2.56
52-Week Low (25.06.2013) 1.00
Daily Volume
1.2
52-Week High % Change -53.13% Dividend Yield 0.00
52-Week Low % Change 20.00% Beta 1.42
% 52 Week Price Range High/Low 12.82% Equity Float 111.21
Shares Out 31.05.2013 130.2 Short Int 0.11
156.21 1 Yr Total Return -42.58%
Total Debt 0.00 YTD Return -42.58%
Preferred Stock 0.0 Adjusted BETA 1.421
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 20.11 Consensus Rating 4.778
Enterprise Value 66.68
Average Volume 5 Day 395'351
LYD CN EQUITY YTD Change - Average Volume 30 Day 358'326
LYD CN EQUITY YTD % CHANGE - Average Volume 3 Month 365'190
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
- - - 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
- - (3.4) - - (2.6) (1.3) (8.4) - - -
- - - - - 0.00x 0.00x - - - -
- (1.9) (5.9) (5.9) (6.4) (7.0) (7.4) - - - -
- - - - - 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 -10.26% Short-Term Rating -
Return on Common Equity -11.08%
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
418'214.00
Current Price (7/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] |
01.07.2013
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 10.1 - 28.06.2013 Investment Advisor
INTERNATIONAL FINANC n/a SEDI 10'309'771 7.92 - 28.03.2013 Government
EUROPEAN BANK FOR RE n/a Research 9'038'780 6.94 1'419'732 29.03.2012 Bank
FRANKLIN RESOURCES n/a ULT-AGG 5'775'000 4.44 - 28.03.2013 Investment Advisor
BANK OF NOVA SCOTIA n/a ULT-AGG 3'790'000 2.91 1'890'000 31.12.2012 Bank
INVESCO LTD n/a ULT-AGG 3'142'696 2.41 1'142'696 31.03.2013 Investment Advisor
FIRST EAGLE INVESTME Multiple Portfolios MF-AGG 3'066'400 2.36 431'800 31.03.2013 Hedge Fund Manager
ROYAL BANK OF CANADA n/a ULT-AGG 2'351'900 1.81 - 31.01.2013 Bank
HAYK ALOYAN n/a SEDI 1'791'500 1.38 2'000 22.02.2013 n/a
FMR LLC n/a ULT-AGG 1'655'300 1.27 30'000 30.04.2013 Investment Advisor
POWER CORP OF CANADA n/a ULT-AGG 1'567'700 1.2 - 28.02.2013 Holding Company
HENDERSON MARC C n/a SEDI 1'502'500 1.15 (100'000) 12.03.2013 n/a
MULLENS PETER n/a SEDI 1'430'000 1.1 (90'500) 07.02.2013 n/a
ANDROSS LIMITED n/a SEDI 1'340'450 1.03 200'000 12.10.2012 Other
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 1'316'829 1.01 - 28.06.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 1'179'400 0.91 - 31.03.2013 Investment Advisor
TARGET GENERATION SO n/a SEDI 1'007'500 0.77 - 21.09.2010 Other
QUANTEX AG Multiple Portfolios MF-AGG 950'000 0.73 - 29.03.2013 Investment Advisor
SPROTT INC Multiple Portfolios MF-AGG 941'400 0.72 500'000 31.12.2012 Hedge Fund Manager
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 762'610 0.59 (141'000) 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel CRAIG P STANLEY buy 5 M 3 Not Provided 28.06.2013
TD Securities DANIEL EARLE speculative buy 4 M 4 12 month 19.06.2013
BMO Capital Markets JOHN P HAYES speculative outperform 4 M #N/A N/A Not Provided 18.06.2013
Haywood Securities Inc. TARA HASSAN buy 5 M 3 12 month 18.06.2013
GMP ANDREW MIKITCHOOK buy 5 M 3 Not Provided 29.05.2013
National Bank Financial SHANE NAGLE outperform 5 M 4 12 month 10.05.2013
Scotia Capital LEILY OMOUMI sector outperform 5 M 4 12 month 23.04.2013
Cormark Securities Inc. MIKE KOZAK buy 5 M 3 12 month 22.04.2013
RBC Capital Markets JONATHAN GUY outperform 5 M 3 12 month 19.04.2013
Holdings By:
Lydian International Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (07.09.2012) 3.55
52-Week Low (28.06.2013) 0.75
Daily Volume
0.98
52-Week High % Change -72.39% Dividend Yield 0.00
52-Week Low % Change 30.67% Beta 1.70
% 52 Week Price Range High/Low 8.21% Equity Float 139.62
Shares Out 11.06.2013 188.3 Short Int 0.84
184.51 1 Yr Total Return -50.75%
Total Debt 0.00 YTD Return -63.02%
Preferred Stock 0.0 Adjusted BETA 1.696
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 116.39 Consensus Rating 4.143
Enterprise Value 80.27
Average Volume 5 Day 608'178
SBB CN EQUITY YTD Change - Average Volume 30 Day 558'198
SBB CN EQUITY YTD % CHANGE - Average Volume 3 Month 523'607
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 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) (8.7) (11.5) (5.7) (6.0) - -
- - - - - 0.00x 0.00x - - - -
(3.1) (1.1) (8.8) (12.7) (14.1) (11.1) (13.6) (5.9) (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 -4.03% Short-Term Rating -
Return on Common Equity -4.62%
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 -990.08
Accounts Receivable Turnover 0.00 Cash Conversion Cycle -
Inventory Turnover 0.00
Fiscal Year Ended
Sabina Gold & Silver CorpPrice/Volume
Valuation Analysis
620'800.00
Current Price (7/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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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
GOODMAN INVESTMENT C n/a SEDI 25'187'590 13.38 5'714'286 13.06.2013 Investment Advisor
DUNDEE PRECIOUS META n/a PROXY 18'539'713 9.85 - 09.05.2013 Corporation
BANK OF NOVA SCOTIA n/a ULT-AGG 11'105'200 5.9 (3'630'000) 31.12.2012 Bank
VAN ECK ASSOCIATES C n/a ULT-AGG 8'161'251 4.33 73'680 28.06.2013 Investment Advisor
DUNDEE CORP n/a SEDI 2'828'700 1.5 2'151'700 29.06.2012 Holding Company
FMR LLC n/a ULT-AGG 2'780'000 1.48 - 30.04.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 1'140'000 0.61 - 29.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 1'122'000 0.6 - 31.03.2013 Investment Advisor
TOCQUEVILLE ASSET MA TOCQUEVILLE ASSET MA 13F 1'034'100 0.55 1'034'100 31.03.2013 Hedge Fund Manager
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 988'124 0.52 - 28.06.2013 Investment Advisor
SHARE SICAV Multiple Portfolios MF-AGG 945'100 0.5 45'000 31.12.2012 Investment Advisor
US GLOBAL INVESTORS Multiple Portfolios MF-AGG 899'400 0.48 - 28.03.2013 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 838'000 0.45 - 28.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 742'157 0.39 98'500 31.03.2013 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 642'400 0.34 - 31.03.2013 Investment Advisor
WHITTON JOHN F n/a PROXY 628'042 0.33 - 09.05.2013 n/a
SPROTT INC Multiple Portfolios MF-AGG 560'700 0.3 - 31.12.2012 Hedge Fund Manager
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 542'600 0.29 (182'800) 28.03.2013 Investment Advisor
WILKES LEROY E n/a SEDI 343'373 0.18 5'000 02.01.2013 n/a
PACIFIC INCOME ADVIS Multiple Portfolios MF-AGG 300'000 0.16 - 31.05.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Salman Partners DAVID WEST speculative buy 4 M 5 12 month 19.06.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 3 12 month 29.05.2013
BMO Capital Markets ANDREW KAIP speculative outperform 4 M 3 Not Provided 28.05.2013
Desjardins Securities ADAM MELNYK buy 5 M 7 12 month 24.05.2013
National Bank Financial PAOLO LOSTRITTO sector perform 3 M 4 12 month 24.05.2013
Paradigm Capital Inc DON MACLEAN hold 3 D 2 12 month 22.05.2013
RBC Capital Markets STEPHEN D WALKER outperform 5 M 3 12 month 14.04.2013
Holdings By:
Sabina Gold & Silver Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (10.08.2012) 1.16
52-Week Low (21.06.2013) 0.16
Daily Volume
0.315
52-Week High % Change -72.84% Dividend Yield 0.00
52-Week Low % Change 96.88% Beta 1.67
% 52 Week Price Range High/Low 15.50% Equity Float 415.25
Shares Out 31.05.2013 416.6 Short Int 1.71
131.24 1 Yr Total Return -65.38%
Total Debt 142.44 YTD Return -58.00%
Preferred Stock 0.0 Adjusted BETA 1.673
Minority Interest 0.0 Analyst Recs 9
Cash and Equivalents 48.72 Consensus Rating 3.222
Enterprise Value 244.32
Average Volume 5 Day 2'800'025
LSG CN EQUITY YTD Change - Average Volume 30 Day 2'448'359
LSG CN EQUITY YTD % CHANGE - Average Volume 3 Month 2'759'354
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 0.0 0.0 66.2 133.0 70.9 151.3 195.0 245.0 - -
- - - 7.86x 3.05x 36.63x 10.72x - - - -
(9.6) (9.6) (19.4) 7.3 37.9 8.0 46.2 63.7 114.5 - -
- - - 70.97x 10.70x 52.14x 7.95x 3.84x 2.13x - -
(5.5) 2.1 (6.5) (10.9) (317.9) (16.1) (315.6) (2.9) 19.2 - -
- 413.00x - - - 0.00x 0.00x - 11.67x - -
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 -33.31% Short-Term Rating -
Return on Common Equity -39.75%
Return on Capital - EBITDA/Interest Exp. 11.55
Asset Turnover 0.16% (EBITDA-Capex)/Interest Exp. -37.76
Net Debt/EBITDA 2.45
Gross Margin 7.8% Total Debt/EBITDA 3.57
EBITDA Margin 30.5%
EBIT Margin -1.0% Total Debt/Equity 22.2%
Net Income Margin -239.0% Total Debt/Capital 18.2%
Asset Turnover 0.16
Current Ratio 1.49 Net Fixed Asset Turnover 0.18
Quick Ratio 0.83 Accounts receivable turnover-days -
Debt to Assets 17.31% Inventory Days 60.68
Tot Debt to Common Equity 22.22% Accounts Payable Turnover Day 89.27
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 6.01
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
3'041'213.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 30'607'224 7.35 276'326 28.06.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 27'505'500 6.6 4'117'500 31.03.2013 Hedge Fund Manager
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 14'840'645 3.56 (30'000) 31.03.2013 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 Investment Advisor
SENTRY SELECT CAPITA Multiple Portfolios MF-AGG 4'600'000 1.1 - 30.06.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 4'299'914 1.03 (896'343) 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 3'656'600 0.88 (1'504'300) 31.03.2013 Investment Advisor
SHARE SICAV Multiple Portfolios MF-AGG 3'475'500 0.83 412'000 31.12.2012 Investment Advisor
TORONTO DOMINION BAN TORONTO DOMINION BAN 13F 2'956'677 0.71 177 31.03.2013 Investment Advisor
NORGES BANK NORGES BANK 13F 2'746'733 0.66 - 31.12.2012 Government
VANGUARD GROUP INC Multiple Portfolios MF-AGG 2'060'065 0.49 29'385 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 1'948'750 0.47 (50'500) 29.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 1'614'955 0.39 (117'621) 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 1'461'593 0.35 (1'783'703) 31.03.2013 Bank
CANADA PENSION PLAN CANADA PENSION PLAN 13F 1'403'624 0.34 (1'900'000) 31.03.2013 Pension Fund (ERISA)
HAUCK & AUFHAUSER IN Multiple Portfolios MF-AGG 1'400'000 0.34 300'000 31.05.2013 Investment Advisor
JONES HEWARD INVESTM Multiple Portfolios MF-AGG 1'121'713 0.27 - 28.06.2013 Investment Advisor
POLYGON MANAGEMENT L POLYGON MANAGEMENT L 13F 1'006'500 0.24 1'006'500 31.03.2013 Investment Advisor
PRUDENTIAL PLC n/a ULT-AGG 1'000'000 0.24 - 31.03.2013 Unclassified
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
BMO Capital Markets BRIAN QUAST underperform 1 M 0 Not Provided 24.06.2013
RBC Capital Markets STEPHEN D WALKER sector perform 3 M 1 12 month 24.06.2013
TD Securities DANIEL EARLE buy 5 M 1 12 month 19.06.2013
Haywood Securities Inc. KERRY SMITH hold 3 M 1 12 month 11.06.2013
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
CIBC World Markets COSMOS CHIU sector underperform 1 D 0 12 month 16.05.2013
M Partners Inc INGRID RICO buy 5 M 2 12 month 16.05.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 2 12 month 15.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 2 12 month 23.04.2013
Holdings By:
Lake Shore Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 1.09
52-Week Low (21.06.2013) 0.41
Daily Volume
0.51
52-Week High % Change -53.21% Dividend Yield -
52-Week Low % Change 24.05% Beta 1.26
% 52 Week Price Range High/Low 14.56% Equity Float 225.97
Shares Out 31.05.2013 231.6 Short Int 1.12
118.10 1 Yr Total Return -39.86%
Total Debt 93.20 YTD Return -45.74%
Preferred Stock 0.0 Adjusted BETA 1.258
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 29.81 Consensus Rating 4.714
Enterprise Value 185.28
Average Volume 5 Day 1'149'987
BRD US EQUITY YTD Change - Average Volume 30 Day 887'886
BRD US EQUITY YTD % CHANGE - Average Volume 3 Month 941'839
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 47.0 85.9 71.9 117.7 84.1 135.7 148.0 159.7 31.2 31.2
- - 4.84x 3.27x 2.36x 12.78x 7.64x - - - -
(9.1) 13.8 32.7 14.3 48.5 24.2 62.9 76.9 86.5 - -
- - 12.72x 16.46x 5.72x 8.42x 4.18x 2.41x 2.14x - -
1.2 (61.7) (55.5) 15.8 18.9 17.0 27.2 31.7 31.6 1.5 1.5
- - - - - 0.00x 0.00x 4.18x 4.36x 5.48x 4.95x
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 6.51% Short-Term Rating -
Return on Common Equity 12.06%
Return on Capital 11.00% EBITDA/Interest Exp. 5.34
Asset Turnover 0.33% (EBITDA-Capex)/Interest Exp. -0.55
Net Debt/EBITDA 1.07
Gross Margin 30.9% Total Debt/EBITDA 1.57
EBITDA Margin 46.4%
EBIT Margin 25.8% Total Debt/Equity 40.1%
Net Income Margin 16.1% Total Debt/Capital 28.6%
Asset Turnover 0.33
Current Ratio 1.15 Net Fixed Asset Turnover 0.41
Quick Ratio 0.76 Accounts receivable turnover-days 10.33
Debt to Assets 22.12% Inventory Days 37.65
Tot Debt to Common Equity 40.06% Accounts Payable Turnover Day 84.46
Accounts Receivable Turnover 35.34 Cash Conversion Cycle -48.56
Inventory Turnover 9.69
Fiscal Year Ended
Brigus Gold CorpPrice/Volume
Valuation Analysis
1'129'464.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 18'568'232 8.02 2'818'808 28.06.2013 Investment Advisor
SPROTT INC n/a 13G 9'336'421 4.03 (1'057'930) 30.04.2013 Hedge Fund Manager
RUFFER LLP Multiple Portfolios MF-AGG 7'027'000 3.03 - 27.12.2012 Investment Advisor
INTACT INVESTMENT MA INTACT INVESTEMENT M 13F 4'428'400 1.91 1'084'200 31.03.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 3'552'474 1.53 10'360 31.03.2013 Bank
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 3'203'084 1.38 (5'011'416) 31.03.2013 Hedge Fund Manager
CONNOR CLARK & LUNN CONNOR CLARK & LUNN 13F 2'896'000 1.25 564'200 31.03.2013 Investment Advisor
DAWE WADE K n/a SEDI 2'438'422 1.05 16'025 03.04.2013 n/a
QUAKER CAPITAL MANAG QUAKER CAPITAL MANAG 13F 1'678'100 0.72 1'678'100 31.03.2013 Hedge Fund Manager
GROSS MICHAEL n/a PROXY 1'578'085 0.68 - 19.04.2013 n/a
LIBRA ADVISORS LLC LIBRA ADVISORS LLC 13F 1'430'200 0.62 - 31.03.2013 Hedge Fund Manager
THE BANK OF NOVA SCO THE BANK OF NOVA SCO 13F 1'095'790 0.47 595'790 31.03.2013 Investment Advisor
BMO FINANCIAL CORP BMO FINANCIAL CORP 13F 1'000'000 0.43 (10'948) 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 914'868 0.4 - 29.03.2013 Investment Advisor
CITY OF LONDON INVES CITY OF LONDON INVES 13F 885'000 0.38 (27'000) 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 826'510 0.36 (363'190) 31.03.2013 Pension Fund (ERISA)
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 819'000 0.35 600'700 31.03.2013 Investment Advisor
KELLIGREW INC n/a SEDI 655'289 0.28 30'000 29.09.2011 Corporation
COE CAPITAL MANAGEME COE CAPITAL MANAGEME 13F 499'380 0.22 (215'250) 31.03.2013 Investment Advisor
RACINE DANIEL n/a SEDI 407'046 0.18 25'436 03.04.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Haywood Securities Inc. KERRY SMITH buy 5 M 2 12 month 20.06.2013
Casimir Capital ERIC WINMILL buy 5 M 2 12 month 20.06.2013
BMO Capital Markets BRIAN QUAST market perform 3 M 1 Not Provided 19.06.2013
Cormark Securities Inc. RICHARD GRAY buy 5 M 1 12 month 11.06.2013
Paradigm Capital Inc DON BLYTH buy 5 M 1 12 month 22.05.2013
Canaccord Genuity Corp STEVEN BUTLER buy 5 M 1 12 month 22.05.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 1 12 month 22.05.2013
Holdings By:
Brigus Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (14.09.2012) 2.48
52-Week Low (21.06.2013) 0.65
Daily Volume
0.755
52-Week High % Change -69.56% Dividend Yield -
52-Week Low % Change 16.15% Beta 1.15
% 52 Week Price Range High/Low 5.74% Equity Float 136.36
Shares Out 31.05.2013 138.1 Short Int 0.30
104.26 1 Yr Total Return -54.79%
Total Debt 0.00 YTD Return -50.65%
Preferred Stock 0.0 Adjusted BETA 1.146
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 25.90 Consensus Rating 3.000
Enterprise Value 84.08
Average Volume 5 Day 396'613
GPL US EQUITY YTD Change - Average Volume 30 Day 524'759
GPL US EQUITY YTD % CHANGE - Average Volume 3 Month 537'596
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
22.4 31.7 42.2 57.8 61.1 56.0 60.2 56.8 68.0 - -
1.28x 2.85x 7.67x 4.05x 3.05x 21.76x 13.96x - - - -
(9.9) 4.9 14.2 22.0 15.6 18.3 11.8 8.0 18.4 - -
- 18.35x 22.73x 10.65x 11.93x 14.61x 13.48x 10.48x 4.57x - -
(13.8) (0.9) 10.7 11.5 5.5 9.2 2.1 0.3 2.7 - -
- - - - - 0.00x 0.00x 52.95x 21.47x - -
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 1.85% Short-Term Rating -
Return on Common Equity 2.11%
Return on Capital 2.12% EBITDA/Interest Exp. 459.68
Asset Turnover 0.53% (EBITDA-Capex)/Interest Exp. -325.97
Net Debt/EBITDA -2.17
Gross Margin 32.0% Total Debt/EBITDA 0.00
EBITDA Margin 19.6%
EBIT Margin 2.8% Total Debt/Equity 0.0%
Net Income Margin 9.0% Total Debt/Capital 0.0%
Asset Turnover 0.53
Current Ratio 6.23 Net Fixed Asset Turnover 1.03
Quick Ratio 5.17 Accounts receivable turnover-days 68.48
Debt to Assets 0.00% Inventory Days 57.88
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 45.58
Accounts Receivable Turnover 5.33 Cash Conversion Cycle 86.73
Inventory Turnover 6.31
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
545'523.00
Current Price (7/dd/yy) Market Data
'
-
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10.0
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40.0
50.0
60.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 10'968'414 7.94 1'435'555 28.06.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'765'875 1.28 1'765'875 31.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'600'000 1.16 212'500 28.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 1'415'289 1.02 519'096 31.03.2013 Investment Advisor
ARCHER ROBERT A n/a PROXY 1'191'300 0.86 - 27.05.2013 n/a
BROWN CHARLES P n/a SEDI 448'000 0.32 36'000 18.11.2011 n/a
PUPLAVA FINANCIAL SE PUPLAVA FINANCIAL SE 13F 410'201 0.3 (19'100) 31.03.2013 Hedge Fund Manager
CANADA PENSION PLAN CANADA PENSION PLAN 13F 260'501 0.19 (32'600) 31.03.2013 Pension Fund (ERISA)
BLACKROCK n/a ULT-AGG 217'559 0.16 1'703 27.06.2013 Investment Advisor
OPPENHEIM KAPITALANL Multiple Portfolios MF-AGG 200'000 0.14 - 31.01.2013 Investment Advisor
WAY FUND MANAGERS Multiple Portfolios MF-AGG 200'000 0.14 - 30.04.2013 Investment Advisor
NATIXIS ASSET MANAGE NATIXIS ASSET MANAGE 13F 153'000 0.11 (35'000) 31.03.2013 Investment Advisor
NATIXIS ASSET MANAGE Multiple Portfolios MF-AGG 153'000 0.11 - 28.03.2013 Investment Advisor
JANE STREET HOLDING JANE STREET HOLDING 13F 145'556 0.11 (46'366) 31.03.2013 Investment Advisor
SCHOELLERBANK INVEST Multiple Portfolios MF-AGG 140'000 0.1 10'000 31.05.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 101'500 0.07 101'500 31.03.2013 Hedge Fund Manager
IFOS INTERNATIONALE Multiple Portfolios MF-AGG 100'000 0.07 - 29.05.2013 Investment Advisor
ROYAL BANK OF CANADA n/a ULT-AGG 87'802 0.06 45'062 31.03.2013 Bank
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 61'578 0.04 - 31.01.2013 Investment Advisor
PLATORO RESOURCE COR n/a PROXY 60'000 0.04 - 27.05.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Salman Partners ASH GUGLANI buy 5 M 1 12 month 19.06.2013
EVA Dimensions TIMOTHY STANISH sell 1 M #N/A N/A Not Provided 06.06.2013
Stonecap Securities Inc CHRISTOS DOULIS underperform 1 M 1 12 month 03.06.2013
Euro Pacific Capital Inc HEIKO IHLE buy 5 M 1 12 month 09.05.2013
Holdings By:
Great Panther Silver Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (06.07.2012) 0.63
52-Week Low (23.07.2012) 0.19
Daily Volume
0.28
52-Week High % Change -55.56% Dividend Yield 0.00
52-Week Low % Change 47.37% Beta 1.62
% 52 Week Price Range High/Low 7.95% Equity Float 486.95
Shares Out 14.06.2013 556.0 Short Int 21.90
155.67 1 Yr Total Return -45.63%
Total Debt 0.00 YTD Return 33.33%
Preferred Stock 0.0 Adjusted BETA 1.616
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 9.65 Consensus Rating 2.400
Enterprise Value 135.24
Average Volume 5 Day 1'930'165
IAU AU EQUITY YTD Change - Average Volume 30 Day 4'247'103
IAU AU EQUITY YTD % CHANGE - Average Volume 3 Month 3'357'569
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) (10.1) (9.2) - -
26.51x 39.18x - - - 0.00x 0.00x - - - -
(42.7) (9.9) (5.0) (30.0) (71.8) (29.4) (63.9) (7.4) (9.7) - -
- - - - - 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
2'306'867.00
Current Price (7/dd/yy) Market Data
'
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10.0
20.0
30.0
40.0
50.0
60.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 7.51 7'384'262 28.06.2013 Investment Advisor
QUANTUM PACIFIC INVE n/a EXCH 29'867'667 5.37 (115'000) 20.06.2013 Unclassified
COMMONWEALTH BANK OF n/a EXCH 25'513'559 4.59 (1'063'213) 21.09.2011 Bank
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 - 30.04.2013 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
NORGES BANK Multiple Portfolios MF-AGG 4'420'172 0.8 - 31.12.2012 Government
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
Wilson HTM Investment Group CAMERON JUDD sell 1 M 0 Not Provided 20.05.2013
Cormark Securities Inc. MIKE KOZAK Under Review #N/A N/A M #N/A N/A Not Provided 07.05.2013
National Bank Financial STEPHEN PARSONS Under Review #N/A N/A M #N/A N/A Not Provided 27.03.2013
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
Canaccord Genuity Corp JEAN-FRANCOIS BERTINCOURT buy 5 N 2 12 month 17.04.2012
Holdings By:
Intrepid Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 4.09
52-Week Low (28.06.2013) 0.95
Daily Volume
0.97
52-Week High % Change -76.28% Dividend Yield 0.00
52-Week Low % Change 2.11% Beta 1.18
% 52 Week Price Range High/Low 0.64% Equity Float 68.25
Shares Out 31.05.2013 81.7 Short Int 2.48
79.27 1 Yr Total Return -66.67%
Total Debt 0.00 YTD Return -64.07%
Preferred Stock 0.0 Adjusted BETA 1.180
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 88.40 Consensus Rating 5.000
Enterprise Value 21.81
Average Volume 5 Day 1'726'669
VGZ US EQUITY YTD Change - Average Volume 30 Day 729'735
VGZ US EQUITY YTD % CHANGE - Average Volume 3 Month 560'053
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 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) (31.9) (35.7) (29.0) (29.0) - -
- - - - - 0.00x 0.00x - - - -
(10.0) (1.9) (20.0) 51.5 (70.7) 44.2 (85.7) (42.9) - (4.4) (5.9)
- - - - - 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 -62.87% Short-Term Rating -
Return on Common Equity -82.96%
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 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
5'705'968.00
Current Price (7/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] |
01.07.2013
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 14.79 - 31.03.2013 Hedge Fund Manager
SUN VALLEY GOLD LLC n/a Research 12'084'310 14.79 - 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 11'374'527 13.92 1'172'092 28.06.2013 Investment Advisor
SPROTT INC SPROTT INC 13F 6'145'260 7.52 (430'462) 31.03.2013 Hedge Fund Manager
BLACKROCK n/a ULT-AGG 2'577'504 3.15 268'822 27.06.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 1'758'748 2.15 - 31.03.2013 Corporation
ANDREEFF EQUITY ADVI ANDREEFF EQUITY ADVI 13F 1'386'026 1.7 (200'000) 31.03.2013 Hedge Fund Manager
STATE STREET n/a ULT-AGG 881'631 1.08 (20'701) 31.03.2013 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 - 31.03.2013 Investment Advisor
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 755'864 0.92 627'319 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 713'381 0.87 4'326 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 632'415 0.77 (100'000) 31.03.2013 Pension Fund (ERISA)
PARKER FREDERICK H E n/a Form 4 566'325 0.69 10'000 31.05.2013 n/a
CREDIT SUISSE AG n/a ULT-AGG 412'356 0.5 327'220 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 327'993 0.4 44'000 31.03.2013 Investment Advisor
CITIGROUP INCORPORAT n/a ULT-AGG 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
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 199'168 0.24 (72'615) 31.03.2013 Investment Advisor
RICHINGS MICHAEL B n/a Form 4 188'121 0.23 - 08.01.2013 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 3 12 month 26.06.2013
Roth Capital Partners BRIAN W POST buy 5 M 7 12 month 30.05.2013
Global Hunter Securities JEFF WRIGHT buy 5 M 5 12 month 30.05.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 3 12 month 29.05.2013
Holdings By:
Vista Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (03.07.2012) 4.79
52-Week Low (25.06.2013) 0.90
Daily Volume
1.12
52-Week High % Change -76.62% Dividend Yield -
52-Week Low % Change 24.44% Beta 1.08
% 52 Week Price Range High/Low 5.66% Equity Float 52.25
Shares Out 31.05.2013 62.6 Short Int 0.75
70.08 1 Yr Total Return -74.60%
Total Debt 0.00 YTD Return -68.63%
Preferred Stock 0.0 Adjusted BETA 1.076
Minority Interest 0.0 Analyst Recs 5
Cash and Equivalents 23.09 Consensus Rating 3.400
Enterprise Value 60.02
Average Volume 5 Day 461'880
AXU US EQUITY YTD Change - Average Volume 30 Day 464'573
AXU US EQUITY YTD % CHANGE - Average Volume 3 Month 471'031
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
5.7 5.8 4.6 45.1 84.7 68.2 76.7 73.0 85.0 21.1 21.9
18.66x 14.71x 32.68x 8.09x 2.27x 24.16x 11.10x - - - -
(4.8) (6.1) (6.0) 9.8 25.4 18.8 20.0 (4.1) 1.0 - -
- - - 37.41x 7.55x 20.36x 9.36x - 58.28x - -
(4.0) (9.6) (5.2) 3.5 3.4 5.2 (0.3) (4.3) 2.1 (0.9) (0.5)
- - - - - 0.00x 0.00x - - - -
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 -0.12% Short-Term Rating -
Return on Common Equity -0.18%
Return on Capital -0.18% EBITDA/Interest Exp. 553.04
Asset Turnover 0.36% (EBITDA-Capex)/Interest Exp. -174.91
Net Debt/EBITDA -0.68
Gross Margin 21.2% Total Debt/EBITDA 0.00
EBITDA Margin 26.1%
EBIT Margin -6.1% Total Debt/Equity 0.0%
Net Income Margin 4.0% Total Debt/Capital 0.0%
Asset Turnover 0.36
Current Ratio 2.57 Net Fixed Asset Turnover 0.50
Quick Ratio 2.01 Accounts receivable turnover-days 49.99
Debt to Assets 0.00% Inventory Days 51.56
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 87.18
Accounts Receivable Turnover 7.30 Cash Conversion Cycle 17.06
Inventory Turnover 7.08
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
Alexco Resource CorpPrice/Volume
Valuation Analysis
688'351.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SPROTT INC n/a Co File 6'004'850 9.6 (230'500) 30.04.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 4'009'408 6.41 527'964 28.06.2013 Investment Advisor
COLUMBIA WANGER ASSE COLUMBIA WANGER ASSE 13F 2'629'000 4.2 (54'000) 31.03.2013 Investment Advisor
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 2'100'000 3.36 2'100'000 31.03.2013 Hedge Fund Manager
ASSET LIABILITY MANA n/a PROXY 1'940'299 3.1 - 01.05.2013 Other
NAUMAN CLYNTON R n/a PROXY 1'725'001 2.76 - 01.05.2013 n/a
RAFFLES ASSOCIATES L RAFFLES ASSOCIATES L 13F 1'203'671 1.92 - 31.03.2013 Hedge Fund Manager
PATHSTONE FAMILY OFF PATHSTONE FAMILY OFF 13F 814'919 1.3 - 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 638'317 1.02 (10'515) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 586'930 0.94 (425'145) 27.06.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 530'000 0.85 30'000 29.04.2013 Investment Advisor
THRALL BRADLEY A n/a SEDI 523'200 0.84 3'200 20.02.2013 n/a
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 484'850 0.77 175'434 31.03.2013 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
VANGUARD GROUP INC Multiple Portfolios MF-AGG 251'242 0.4 - 31.03.2013 Investment Advisor
NOMURA n/a ULT-AGG 91'006 0.15 (24'760) 31.03.2013 Unclassified
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 85'000 0.14 - 31.01.2013 Investment Advisor
MCINTYRE ROBERT L n/a SEDI 71'887 0.11 10'000 17.04.2013 n/a
GENEVA INVESTMENT MA GENEVA INVESTMENT MA 13F 70'000 0.11 26'000 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp NICHOLAS CAMPBELL hold 3 M 2 12 month 25.06.2013
Global Hunter Securities JEFF WRIGHT neutral 3 M 2 12 month 10.06.2013
EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013
Cormark Securities Inc. GRAEME JENNINGS market perform 3 M 2 12 month 04.06.2013
Stonecap Securities Inc CHRISTOS DOULIS sector perform 3 M 2 12 month 03.06.2013
Holdings By:
Alexco Resource Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
ATAC Resources Ltd. explores for gold in Canada.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (21.08.2012) 2.95
52-Week Low (26.06.2013) 0.69
Daily Volume
0.83
52-Week High % Change -71.86% Dividend Yield 0.00
52-Week Low % Change 20.29% Beta 1.81
% 52 Week Price Range High/Low 6.19% Equity Float 90.26
Shares Out 31.05.2013 113.2 Short Int 0.18
93.92 1 Yr Total Return -65.13%
Total Debt 0.00 YTD Return -52.30%
Preferred Stock 0.0 Adjusted BETA 1.805
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 15.04 Consensus Rating 5.000
Enterprise Value 67.27
Average Volume 5 Day 415'507
ATC CN EQUITY YTD Change - Average Volume 30 Day 208'346
ATC CN EQUITY YTD % CHANGE - Average Volume 3 Month 227'750
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 03/yy 03/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 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
- (1.1) (3.1) - - 0.0 0.0 (4.2) (4.3) (1.1) (1.0)
- - - - - 0.00x 0.00x - - - -
- (1.1) (2.2) (24.8) (7.5) (11.6) (2.8) (3.3) (4.1) (1.0) (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 -3.12% Short-Term Rating -
Return on Common Equity -3.48%
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
319'621.00
Current Price (7/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
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 SEDI 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 5'985'256 5.29 54'038 28.06.2013 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 1'615'128 1.43 - 28.06.2013 Investment Advisor
AMERICAN CENTURY COM Multiple Portfolios MF-AGG 1'124'700 0.99 - 31.03.2013 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 PROXY 424'667 0.38 - 17.04.2013 n/a
KENWAY BRUCE J n/a PROXY 400'000 0.35 - 17.04.2013 n/a
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 370'900 0.33 - 28.03.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 300'000 0.27 - 29.04.2013 Investment Advisor
GESIURIS SA SGIIC Multiple Portfolios MF-AGG 300'000 0.27 - 30.04.2013 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
GMP ANDREW MIKITCHOOK buy 5 M 2 Not Provided 29.05.2013
Macquarie MICHAEL GRAY outperform 5 M 2 12 month 24.05.2013
Raymond James GARY J BASCHUK Under Review #N/A N/A M #N/A N/A Not Provided 18.04.2013
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] |
01.07.2013
Scorpio Mining Corporation explores for silver in Canada and Mexico.
Latest Fiscal Year: 12/2012
LTM as of: 03/yy
52-Week High (04.10.2012) 1.28
52-Week Low (26.06.2013) 0.28
Daily Volume
0.34
52-Week High % Change -73.44% Dividend Yield 0.00
52-Week Low % Change 23.64% Beta 1.59
% 52 Week Price Range High/Low 6.47% Equity Float 196.42
Shares Out 31.05.2013 198.4 Short Int 0.19
67.45 1 Yr Total Return -46.88%
Total Debt 0.00 YTD Return -66.99%
Preferred Stock 0.0 Adjusted BETA 1.595
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 31.05 Consensus Rating 5.000
Enterprise Value 35.88
Average Volume 5 Day 605'501
SPM CN EQUITY YTD Change - Average Volume 30 Day 476'339
SPM CN EQUITY YTD % CHANGE - Average Volume 3 Month 549'577
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 19.4 34.2 61.1 45.8 56.1 41.6 48.6 78.2 - -
- 4.59x 5.75x 5.89x 3.78x 19.77x 13.67x - - - -
(4.6) 6.6 11.9 29.4 14.2 21.8 12.5 10.0 11.6 - -
- 13.58x 16.54x 12.25x 12.23x 9.87x 8.58x 3.59x 3.09x - -
(90.7) 13.5 30.7 12.6 7.1 10.0 4.3 - - - -
- 6.00x 9.00x 32.50x 25.75x 25.80x 23.33x 10.97x 10.30x - -
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 2.88% Short-Term Rating -
Return on Common Equity 2.99%
Return on Capital 3.00% EBITDA/Interest Exp. -
Asset Turnover 0.28% (EBITDA-Capex)/Interest Exp. -
Net Debt/EBITDA -2.53
Gross Margin 41.6% Total Debt/EBITDA 0.00
EBITDA Margin 30.0%
EBIT Margin 19.7% Total Debt/Equity 0.0%
Net Income Margin 15.5% Total Debt/Capital 0.0%
Asset Turnover 0.28
Current Ratio 21.39 Net Fixed Asset Turnover 0.48
Quick Ratio 18.19 Accounts receivable turnover-days 69.28
Debt to Assets 0.00% Inventory Days 95.75
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 50.15
Accounts Receivable Turnover 5.27 Cash Conversion Cycle 106.31
Inventory Turnover 3.81
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
641'623.00
Current Price (7/dd/yy) Market Data
'
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40.0
50.0
60.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 14'597'799 7.36 131'582 28.06.2013 Investment Advisor
JP MORGAN n/a ULT-AGG 9'523'000 4.8 - 28.02.2013 Investment Advisor
GLOBAL X MANAGEMENT Multiple Portfolios MF-AGG 3'905'390 1.97 - 28.06.2013 Investment Advisor
ROYCE AND ASSOCIATES Multiple Portfolios MF-AGG 3'800'000 1.92 - 31.03.2013 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
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 1'400'000 0.71 - 28.03.2013 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
DIMENSIONAL FUND ADV n/a ULT-AGG 156'048 0.08 - 29.03.2013 Investment Advisor
FACTOR ADVISORS LLC Multiple Portfolios MF-AGG 131'178 0.07 - 29.11.2012 Unclassified
BLACKROCK n/a ULT-AGG 98'840 0.05 - 27.06.2013 Investment Advisor
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
IFOS INTERNATIONALE Multiple Portfolios MF-AGG 45'000 0.02 - 29.05.2013 Investment Advisor
SCHOELLERBANK INVEST Multiple Portfolios MF-AGG 40'000 0.02 - 30.04.2013 Investment Advisor
MASON EWAN n/a Co File 20'000 0.01 - 31.12.2012 n/a
SAWH HEMDAT n/a Co File 10'500 0.01 - 31.12.2012 n/a
PRINCIPAL FINANCIAL n/a ULT-AGG 9'500 0 9'500 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Casimir Capital ERIC WINMILL buy 5 M 1 Not Provided 17.06.2013
Clarus Securities MIKE BANDROWSKI buy 5 M 2 12 month 04.06.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 2 12 month 23.05.2013
MLV & Co RICHARD TROTMAN suspended coverage #N/A N/A M #N/A N/A Not Provided 16.07.2012
Holdings By:
Scorpio Mining Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (18.10.2012) 1.80
52-Week Low (15.05.2013) 0.86
Daily Volume
0.943
52-Week High % Change -47.61% Dividend Yield 0.00
52-Week Low % Change 9.32% Beta 1.15
% 52 Week Price Range High/Low 8.57% Equity Float 98.45
Shares Out 31.05.2013 128.5 Short Int 4.06
121.13 1 Yr Total Return -32.16%
Total Debt 0.00 YTD Return -32.16%
Preferred Stock 44.3 Adjusted BETA 1.148
Minority Interest 0.0 Analyst Recs 6
Cash and Equivalents 75.05 Consensus Rating 4.667
Enterprise Value 102.01
Average Volume 5 Day 601'898
MDW US EQUITY YTD Change - Average Volume 30 Day 578'717
MDW US EQUITY YTD % CHANGE - Average Volume 3 Month 446'410
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 03/yy 03/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) (18.6) (16.2) (6.7) (10.8) - -
- - - - - 0.00x 0.00x - - - -
(16.2) (2.6) (5.8) (15.5) (15.3) (15.9) (6.3) (11.0) (16.4) (4.6) (4.6)
- - - - - 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 -6.59% Short-Term Rating -
Return on Common Equity -14.91%
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
1'954'222.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 12'983'125 10.11 - 28.06.2013 Investment Advisor
SHEERIN MATT n/a PROXY 7'929'506 6.17 (271'400) 18.04.2013 n/a
HAWES GEORGE T n/a PROXY 7'112'952 5.54 - 18.04.2013 n/a
FRANKLIN RESOURCES n/a ULT-AGG 6'557'700 5.11 60'000 31.03.2013 Investment Advisor
HALE CAPITAL PARTNER n/a PROXY 6'127'310 4.77 - 18.04.2013 Other
BLACKROCK n/a ULT-AGG 5'299'564 4.13 467'767 27.06.2013 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 - 18.04.2013 n/a
STATE STREET n/a ULT-AGG 1'634'300 1.27 (26'204) 31.03.2013 Investment Advisor
WOLFUS DANIEL EDWARD n/a PROXY 1'570'117 1.22 - 18.04.2013 n/a
NANTAHALA CAPITAL MA NANTAHALA CAPITAL MA 13F 1'526'751 1.19 1'526'751 31.03.2013 Hedge Fund Manager
DAVENPORT & COMPANY DAVENPORT & COMPANY 13F 1'470'179 1.14 14'700 31.03.2013 Investment Advisor
NORTHERN TRUST CORPO NORTHERN TRUST CORPO 13F 1'416'296 1.1 (65'462) 31.03.2013 Investment Advisor
DEANS KNIGHT CAPITAL n/a 13G 1'144'360 0.89 - 31.12.2012 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 571'863 0.45 - 31.03.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 558'000 0.43 - 31.03.2013 Investment Advisor
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 445'429 0.35 - 31.03.2013 Hedge Fund Manager
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 435'535 0.34 - 31.03.2013 Investment Advisor
BANK OF NEW YORK MEL BANK OF NEW YORK MEL 13F 376'690 0.29 (4'310) 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Stifel MICHAEL A SCOON buy 5 M 2 Not Provided 28.06.2013
Canaccord Genuity Corp JOE MAZUMDAR speculative buy 4 M 2 12 month 25.06.2013
Stonecap Securities Inc BRIAN SZETO outperform 5 M 2 12 month 13.06.2013
Jacob Securities Inc MATTHEW SHEPPARD buy 5 M 2 12 month 29.05.2013
Cormark Securities Inc. KYLE MCPHEE speculative buy 4 M 2 12 month 22.04.2013
RBC Capital Markets SAM CRITTENDEN outperform 5 M 2 12 month 05.02.2013
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] |
01.07.2013
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 (28.09.2012) 30.75
52-Week Low (24.06.2013) 8.90
Daily Volume
9
52-Week High % Change -70.73% Dividend Yield 0.00
52-Week Low % Change 1.12% Beta 0.85
% 52 Week Price Range High/Low 2.06% Equity Float 526.07
Shares Out 30.04.2013 855.5 Short Int -
76.99 1 Yr Total Return -64.00%
Total Debt 0.00 YTD Return -60.00%
Preferred Stock 0.0 Adjusted BETA 0.847
Minority Interest 2.5 Analyst Recs 1
Cash and Equivalents 2.87 Consensus Rating 4.000
Enterprise Value 76.58
Average Volume 5 Day 1'136'883
PGD LN EQUITY YTD Change - Average Volume 30 Day 1'677'797
PGD LN EQUITY YTD % CHANGE - Average Volume 3 Month 1'551'015
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 - - - - - -
- - - - - - - - - - -
(5.8) (7.3) (11.3) (32.6) (15.8) - - - - - -
- - - - - - - - - - -
(5.8) (7.3) (11.3) (33.2) (13.1) - - - - - -
- - - - - - - - - - -
EBITDA -15.81 Long-Term Rating Date -
EBIT -16.48 Long-Term Rating -
Operating Margin - Long-Term Outlook -
Pretax Margin - Short-Term Rating Date -
Return on Assets -39.10% Short-Term Rating -
Return on Common Equity -54.75%
Return on Capital - EBITDA/Interest Exp. -368.56
Asset Turnover 0.00% (EBITDA-Capex)/Interest Exp. -457.66
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 1.80 Net Fixed Asset Turnover 0.00
Quick Ratio 0.78 Accounts receivable turnover-days -
Debt to Assets 0.00% Inventory Days -
Tot Debt to Common Equity 0.00% 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
15'000.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
DIRECTOR & RELATED H Multiple Portfolios REG 154'200'010 18.03 5'162'143 02.04.2013 Other
UBS n/a ULT-AGG 141'469'892 16.54 44'894'533 02.04.2013 Unclassified
BLACKROCK n/a ULT-AGG 139'329'693 16.29 (386'765) 27.06.2013 Investment Advisor
MIGUENS CARLOS JOSE n/a RNS-DIR 125'072'109 14.62 - 03.05.2013 n/a
CINCO VIENTOS URUGUA Multiple Portfolios REG 56'920'252 6.65 6'558'667 02.04.2013 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 40'286'416 4.71 363'136 28.06.2013 Investment Advisor
VAN ECK GLOBAL n/a RNS-MAJ 39'908'174 4.67 (3'212'533) 25.06.2013 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 3.31 - 02.04.2013 Other
BARRICK GOLD CORP Multiple Portfolios REG 28'323'264 3.31 - 02.04.2013 Corporation
MIGUENS CRISTINA n/a Co File 24'485'645 2.86 - 24.04.2012 n/a
HUMPHRIES WILLIAM HE n/a RNS-DIR 23'296'857 2.72 4'403'000 27.06.2012 n/a
F&C ASSET MANAGEMENT Multiple Portfolios REG 17'543'465 2.05 7'820'731 02.04.2013 Investment Advisor
FOUR CAPITAL PARTNER Multiple Portfolios REG 17'507'313 2.05 10'610'028 02.04.2013 Other
HARGREAVE n/a ULT-AGG 16'978'688 1.98 (8'500) 02.04.2013 Unclassified
PRIVATE INDIVIDUALS Multiple Portfolios REG 16'847'969 1.97 3'448'000 02.04.2013 Other
BARCLAYS PERSONAL IN Multiple Portfolios REG 12'919'075 1.51 5'999'409 02.04.2013 Investment Advisor
COUTTS PRIVATE BANKI Multiple Portfolios REG 11'236'067 1.31 (1'658'722) 02.04.2013 Unclassified
F&C FUND MANAGEMENT Multiple Portfolios MF-AGG 9'941'137 1.16 - 28.02.2013 Investment Advisor
CRAVEN JOHN ANTHONY n/a Co File 9'455'190 1.11 - 24.04.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
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] |
01.07.2013
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 (26.06.2013) 0.13
Daily Volume
0.135
52-Week High % Change -86.36% Dividend Yield 0.00
52-Week Low % Change 8.00% Beta 1.52
% 52 Week Price Range High/Low 0.58% Equity Float 390.07
Shares Out 31.12.2012 400.5 Short Int 13.94
54.06 1 Yr Total Return -80.15%
Total Debt 0.00 YTD Return -73.79%
Preferred Stock 0.0 Adjusted BETA 1.519
Minority Interest 0.0 Analyst Recs 14
Cash and Equivalents 46.22 Consensus Rating 3.643
Enterprise Value 3.41
Average Volume 5 Day 3'580'253
GRY AU EQUITY YTD Change - Average Volume 30 Day 5'203'682
GRY AU EQUITY YTD % CHANGE - Average Volume 3 Month 4'511'137
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 - - 2.8 1.9 - -
- - - - - - - 2.46x 33.64x - -
(3.3) (2.7) (3.9) (15.9) (8.0) - - (7.9) (7.9) - -
- - - - - - - - - - -
(3.1) (2.3) (3.2) (8.9) (5.9) - - (5.7) (6.0) - -
- - - - - - - - - - -
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
5'117'800.00
Current Price (7/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] |
01.07.2013
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 28.11.2012 Investment Advisor
GENESIS ASSET MANAGE n/a EXCH 28'079'256 7.01 7'396'732 07.05.2013 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
NORGES BANK Multiple Portfolios MF-AGG 13'598'508 3.4 - 31.12.2012 Government
JP MORGAN n/a ULT-AGG 9'872'355 2.47 1'125'660 30.04.2013 Investment Advisor
PARSONS STEPHEN n/a EXCH 6'990'601 1.75 - 18.12.2012 n/a
BANK OF NOVA SCOTIA n/a ULT-AGG 6'850'000 1.71 1'850'000 31.12.2012 Bank
FMR LLC n/a ULT-AGG 5'590'010 1.4 - 30.04.2013 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 4'738'876 1.18 - 28.06.2013 Investment Advisor
WELLS FARGO n/a ULT-AGG 3'934'525 0.98 - 30.04.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 3'498'398 0.87 - 31.03.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 2'360'000 0.59 - 29.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 1'988'755 0.5 - 29.03.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'939'645 0.48 350'148 31.03.2013 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
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Morgan Stanley BRENDAN FITZPATRICK Equalwt/In-Line 3 M 0 12 month 24.06.2013
Argonaut Securities Pty Ltd ADAM MIETHKE hold 3 D 0 Not Provided 24.06.2013
BMO Capital Markets ANDREW BREICHMANAS speculative outperform 4 M 1 Not Provided 20.06.2013
RBC Capital Markets GEOFF BREEN sector perform 3 M 0 12 month 19.06.2013
Macquarie MITCH RYAN neutral 3 M 0 12 month 18.06.2013
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
Clarus Securities NANA SANGMUAH buy 5 M 1 18 month 05.06.2013
GMP LEVI SPRY hold 3 M 0 Not Provided 29.05.2013
Credit Suisse MICHAEL SLIFIRSKI outperform 5 M 1 Not Provided 27.05.2013
Canaccord Genuity Corp REG SPENCER speculative buy 4 D 0 12 month 27.05.2013
Paradigm Capital Inc DON MACLEAN speculative buy 4 M 0 12 month 22.05.2013
Blackswan Equities Ltd RHYS BRADLEY hold 3 D 0 12 month 22.05.2013
RBS Morgans JAMES WILSON outperform 5 M 1 12 month 06.03.2013
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] |
01.07.2013
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 (26.06.2013) 4.90
Daily Volume
5.43
52-Week High % Change -36.79% Dividend Yield -
52-Week Low % Change 10.82% Beta 0.75
% 52 Week Price Range High/Low 14.36% Equity Float -
Shares Out 31.03.2013 38.5 Short Int 0.05
209.26 1 Yr Total Return -13.88%
Total Debt 30.69 YTD Return -31.20%
Preferred Stock 0.0 Adjusted BETA 0.745
Minority Interest 136.7 Analyst Recs 2
Cash and Equivalents 298.51 Consensus Rating 5.000
Enterprise Value -
Average Volume 5 Day 91'293
DRD US EQUITY YTD Change - Average Volume 30 Day 119'282
DRD US EQUITY YTD % CHANGE - Average Volume 3 Month 107'411
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 2'065.5 2'096.1 - -
0.86x 1.10x 0.64x 0.79x 1.09x 2.92x 4.62x - - - -
162.1 6.9 212.5 234.0 380.2 408.0 411.6 459.9 498.6 - -
9.75x 301.94x 6.03x 4.66x 5.08x 4.50x 6.72x - - - -
996.0 129.1 207.8 (287.9) 308.7 (117.3) 291.8 260.5 284.9 - -
- - - - - 0.00x 0.00x 7.86x 7.21x - -
EBITDA 380.19 Long-Term Rating Date -
EBIT 259.34 Long-Term Rating -
Operating Margin 14.70% 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. 24.25
Asset Turnover 0.75% (EBITDA-Capex)/Interest Exp. 3.00
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 27.74
Tot Debt to Common Equity 2.05% Accounts Payable Turnover Day -
Accounts Receivable Turnover - Cash Conversion Cycle -
Inventory Turnover 13.19
Fiscal Year Ended
DRDGOLD LtdPrice/Volume
Valuation Analysis
85'418.00
Current Price (7/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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1'500.0
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 - 31.05.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 1'073'033 2.78 141'063 28.06.2013 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 442'970 1.15 52'500 31.03.2013 Hedge Fund Manager
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 125'000 0.32 15'000 31.03.2013 Investment Advisor
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
ROTHSCHILD & COMPAGN Multiple Portfolios MF-AGG 100'000 0.26 - 31.01.2013 Investment Advisor
OXFORD ASSET MANAGEM OXFORD ASSET MANAGEM 13F 61'336 0.16 43'360 31.03.2013 Hedge Fund Manager
MORGAN STANLEY n/a ULT-AGG 49'176 0.13 17'676 31.03.2013 Investment Advisor
FRANK RUSSELL TRUST FRANK RUSSELL COMPAN 13F 36'297 0.09 - 31.03.2013 Investment Advisor
RUFFER LLP RUFFER LLP 13F 34'015 0.09 - 31.03.2013 Investment Advisor
APERIO GROUP LLC APERIO GROUP LLC 13F 33'383 0.09 3'750 31.03.2013 Investment Advisor
FMR LLC n/a ULT-AGG 28'300 0.07 - 31.03.2013 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 - 31.03.2013 Pension Fund (ERISA)
BLACKROCK n/a ULT-AGG 20'181 0.05 20'133 31.03.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 19'729 0.05 3'502 31.03.2013 Investment Advisor
O'SHAUGHNESSY ASSET O'SHAUGHNESSY ASSET 13F 11'452 0.03 5'671 31.03.2013 Investment Advisor
PHILADELPHIA INTERNA PHILADELPHIA INTERNA 13F 9'000 0.02 9'000 31.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013
Holdings By:
DRDGOLD Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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
-
52-Week High % Change - Dividend Yield -
52-Week Low % Change - Beta 1.48
% 52 Week Price Range High/Low 5.44% Equity Float 134.28
Shares Out 31.12.2012 135.5 Short Int 0.85
- 1 Yr Total Return -
Total Debt 0.00 YTD Return -
Preferred Stock 0.0 Adjusted BETA 1.484
Minority Interest (0.4) Analyst Recs 1
Cash and Equivalents 13.46 Consensus Rating 1.000
Enterprise Value -
Average Volume 5 Day 0
RED AU EQUITY YTD Change - Average Volume 30 Day 0
RED AU EQUITY YTD % CHANGE - Average Volume 3 Month 65'420
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 - - 40.6 123.0 - -
- - - - 42.84x - - - - - -
(1.4) (1.5) (2.2) (5.2) (2.9) - - 6.7 46.1 - -
- - - - - - - - - - -
(0.6) (0.9) (0.4) (8.1) (1.7) - - (7.8) 30.6 - -
- - - - - - - - - - -
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. -2798.74
Asset Turnover 0.10% (EBITDA-Capex)/Interest Exp. -21673.51
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
0.00
Current Price (7/dd/yy) Market Data
'''-----..
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 28.03.2013 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) 31.01.2013 Investment Advisor
VAN ECK ASSOCIATES C n/a ULT-AGG 9'206'232 6.79 - 28.06.2013 Investment Advisor
RUFFER LLP Multiple Portfolios MF-AGG 6'663'000 4.92 - 27.12.2012 Investment Advisor
DEUTSCHE BANK AG n/a ULT-AGG 3'958'183 2.92 (3'160'399) 24.06.2011 Investment Advisor
GAMCO n/a ULT-AGG 2'208'823 1.63 - 28.03.2013 Unclassified
FMR LLC n/a ULT-AGG 1'326'000 0.98 - 30.04.2013 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
BLACKROCK n/a ULT-AGG 53'493 0.04 - 27.06.2013 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
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 n/a ULT-AGG 12'704 0.01 - 29.03.2013 Investment Advisor
AUSTRALIAN INDEX INV Multiple Portfolios MF-AGG 1'081 0 - 03.06.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Wilson HTM Investment Group CAMERON JUDD sell 1 M 1 Not Provided 20.05.2013
Evans & Partners Pty Ltd CATHY MOISES not rated #N/A N/A M #N/A N/A Not Provided 17.05.2013
Canaccord Genuity Corp REG SPENCER Under Review #N/A N/A M #N/A N/A Not Provided 14.05.2013
Bell Potter CHRIS WHITEHEAD buy 5 M 3 12 month 01.03.2012
Holdings By:
Red 5 Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (17.09.2012) 3.85
52-Week Low (28.06.2013) 1.32
Daily Volume
1.34
52-Week High % Change -65.19% Dividend Yield 6.61
52-Week Low % Change 1.52% Beta 0.83
% 52 Week Price Range High/Low 0.79% Equity Float 297.27
Shares Out 31.05.2013 297.3 Short Int -
1'036.86 1 Yr Total Return -56.89%
Total Debt 4'216.29 YTD Return -55.80%
Preferred Stock 0.0 Adjusted BETA 0.833
Minority Interest 46.7 Analyst Recs 4
Cash and Equivalents 267.94 Consensus Rating 3.250
Enterprise Value 4'814.73
Average Volume 5 Day 1'439'740
3330 HK EQUITY YTD Change - Average Volume 30 Day 1'022'351
3330 HK EQUITY YTD % CHANGE - Average Volume 3 Month 747'293
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! 0.63x 0.65x - -
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 6.39x 5.94x - -
115.6 118.0 266.5 310.6 165.3 0.0 0.0 134.0 124.1 - -
11.63x 17.38x 16.59x 5.74x 12.10x 0.00x 0.00x 6.05x 6.62x - -
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 5.33
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
818'000.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 23'758'000 7.99 - 28.06.2013 Investment Advisor
BANK OF NEW YORK MEL n/a EXCH 21'264'000 7.15 - 25.06.2013 Investment Advisor
DIMENSIONAL FUND ADV n/a ULT-AGG 6'766'000 2.28 - 29.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 2'338'000 0.79 - 27.06.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'608'558 0.54 (136'000) 31.03.2013 Investment Advisor
MACQUARIE GROUP n/a ULT-AGG 1'310'000 0.44 (580'000) 30.06.2011 Investment Advisor
JOHN HANCOCK ADVISER Multiple Portfolios MF-AGG 446'000 0.15 - 31.03.2013 Investment Advisor
BESSEMER GROUP INCOR Multiple Portfolios MF-AGG 190'000 0.06 - 31.01.2013 Investment Advisor
SCHOELLERBANK INVEST Multiple Portfolios MF-AGG 180'000 0.06 (50'000) 30.04.2013 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 - 31.05.2013 Investment Advisor
NOMURA INTERNATIONAL Multiple Portfolios MF-AGG 68'000 0.02 - 31.03.2012 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Guotai Junan KEVIN GUO reduce 2 D 2 Not Provided 17.06.2013
EVA Dimensions TIMOTHY STANISH overweight 5 M #N/A N/A Not Provided 06.06.2013
Credit Suisse OWEN LIANG underperform 1 D 2 Not Provided 09.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (23.08.2012) 3.25
52-Week Low (26.06.2013) 0.43
Daily Volume
0.65
52-Week High % Change -80.00% Dividend Yield -
52-Week Low % Change 49.66% Beta 1.09
% 52 Week Price Range High/Low 7.66% Equity Float 85.65
Shares Out 31.05.2013 98.1 Short Int 0.19
63.74 1 Yr Total Return -76.62%
Total Debt 0.00 YTD Return -70.05%
Preferred Stock 0.0 Adjusted BETA 1.086
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 30.35 Consensus Rating 3.500
Enterprise Value 42.26
Average Volume 5 Day 532'846
THM US EQUITY YTD Change - Average Volume 30 Day 587'500
THM US EQUITY YTD % CHANGE - Average Volume 3 Month 381'791
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 0.0 0.0 0.0 0.0 0.0 0.0 - - - -
- - - - - #DIV/0! #DIV/0! - - - -
(3.2) (7.3) (12.1) (9.9) (55.5) (15.2) (57.4) - - - -
- - - - - 0.00x 0.00x - - - -
(2.4) (9.8) (17.9) (10.2) (56.6) (16.6) (54.4) - - - -
- - - - - 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
453'625.00
Current Price (7/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] |
01.07.2013
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 8'908'000 9.08 (41'654) 31.03.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 6'906'702 7.04 493'586 28.06.2013 Investment Advisor
TEXAS TEACHER RETIRE TEACHER RETIREMENT S 13F 2'099'836 2.14 - 31.03.2013 Pension Fund (ERISA)
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 1'407'011 1.43 (519'400) 31.03.2013 Hedge Fund Manager
ROYCE AND ASSOCIATES ROYCE & ASSOCIATES L 13F 1'014'000 1.03 - 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 999'932 1.02 999'932 31.03.2013 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 607'000 0.62 - 28.03.2013 Investment Advisor
INVESCO LTD n/a ULT-AGG 561'498 0.57 (338'927) 31.03.2013 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
AEGIS FINANCIAL CORP AEGIS FINANCIAL CORP 13F 403'449 0.41 403'449 31.03.2013 Investment Advisor
PONTIUS JEFFREY A n/a SEDI 383'566 0.39 (195'600) 07.01.2013 n/a
VANGUARD GROUP INC Multiple Portfolios MF-AGG 361'867 0.37 16'250 31.03.2013 Investment Advisor
CARRIERE DANIEL A n/a PROXY 294'735 0.3 - 16.04.2013 n/a
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 253'453 0.26 (12'997) 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT TD ASSET MANAGEMENT 13F 220'000 0.22 - 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 159'600 0.16 (74'000) 31.03.2013 Hedge Fund Manager
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 159'100 0.16 21'800 28.02.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 2 12 month 26.06.2013
Salman Partners DAVID WEST Under Review #N/A N/A M #N/A N/A Not Provided 19.06.2013
BMO Capital Markets JOHN P HAYES Speculative Underperform 2 D #N/A N/A Not Provided 14.04.2013
Holdings By:
International Tower Hill Mines Ltd ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 (04.07.2012) 0.59
52-Week Low (28.06.2013) 0.12
Daily Volume
0.12
52-Week High % Change -79.49% Dividend Yield 0.00
52-Week Low % Change 4.35% Beta 1.09
% 52 Week Price Range High/Low 0.00% Equity Float 532.79
Shares Out 06.02.2013 595.3 Short Int 16.89
71.43 1 Yr Total Return -78.38%
Total Debt 3.06 YTD Return -68.42%
Preferred Stock 0.0 Adjusted BETA 1.088
Minority Interest 0.0 Analyst Recs 8
Cash and Equivalents 20.31 Consensus Rating 3.625
Enterprise Value 79.00
Average Volume 5 Day 5'919'355
SAR AU EQUITY YTD Change - Average Volume 30 Day 4'609'498
SAR AU EQUITY YTD % CHANGE - Average Volume 3 Month 6'014'558
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 - - 208.9 200.2 - -
- - 5.26x 1.58x 1.70x - - 0.21x 0.00x - -
(1.9) (9.5) 14.7 59.5 63.1 - - 65.4 74.4 - -
- - 11.26x 4.15x 4.96x - - 1.21x 1.06x - -
(1.8) (10.0) (25.4) 47.7 18.7 - - 32.7 33.2 - -
- - - 5.49x 16.82x - - 2.07x 1.90x - -
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
4'332'475.00
Current Price (7/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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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] |
01.07.2013
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 28.06.2013 Investment Advisor
RENAISSANCE SMALL CO n/a EXCH 35'193'341 5.91 (2'700'000) 27.06.2013 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 - 28.02.2013 Investment Advisor
GAMCO n/a ULT-AGG 8'500'000 1.43 2'000'000 28.03.2013 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 - 30.04.2013 Investment Advisor
GENUS DYNAMIC GOLD F n/a EXCH 4'100'000 0.69 (1'739'000) 26.05.2011 n/a
NORGES BANK Multiple Portfolios MF-AGG 3'699'947 0.62 - 31.12.2012 Government
DIMENSIONAL FUND ADV n/a ULT-AGG 3'267'666 0.55 6'847 29.03.2013 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
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Canaccord Genuity Corp GARY WATSON speculative buy 4 M 0 12 month 26.06.2013
Ord Minnett DAVID BRENNAN buy 5 M 0 Not Provided 25.06.2013
Octa Phillip Securities Ltd ANDREW SHEARER hold 3 N 0 Not Provided 21.06.2013
EVA Dimensions TIMOTHY STANISH hold 3 M #N/A N/A Not Provided 06.06.2013
Argonaut Securities Pty Ltd ADAM MIETHKE speculative buy 4 D 0 12 month 27.05.2013
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] |
01.07.2013
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: 03/yy
52-Week High (14.09.2012) 2.02
52-Week Low (24.06.2013) 0.62
Daily Volume
0.71
52-Week High % Change -64.85% Dividend Yield 0.00
52-Week Low % Change 14.52% Beta 0.76
% 52 Week Price Range High/Low 6.43% Equity Float 82.15
Shares Out 31.05.2013 88.4 Short Int 0.56
62.77 1 Yr Total Return -57.49%
Total Debt 0.00 YTD Return -41.32%
Preferred Stock 0.0 Adjusted BETA 0.762
Minority Interest 0.0 Analyst Recs 4
Cash and Equivalents 55.52 Consensus Rating 2.750
Enterprise Value 12.81
Average Volume 5 Day 178'939
XRA US EQUITY YTD Change - Average Volume 30 Day 186'809
XRA US EQUITY YTD % CHANGE - Average Volume 3 Month 180'153
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 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) (31.3) (23.2) (11.7) (11.5) - -
- - - - - 0.00x 0.00x - - - -
(27.0) (27.3) 83.8 (30.9) (25.2) (30.5) (22.5) (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 -37.16% Short-Term Rating -
Return on Common Equity -38.53%
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
226'322.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
VAN ECK ASSOCIATES C n/a ULT-AGG 6'743'839 7.63 885'959 28.06.2013 Investment Advisor
GEOLOGIC RESOURCE PA GEOLOGIC RESOURCE PA 13F 3'050'700 3.45 - 31.03.2013 Hedge Fund Manager
TSP CAPITAL MANAGEME TSP CAPITAL MANAGEME 13F 2'964'000 3.35 551'000 31.03.2013 Investment Advisor
ROWEN COMPANY LTD n/a PROXY 2'600'000 2.94 - 26.04.2013 Corporation
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 2'445'758 2.77 - 31.03.2013 Hedge Fund Manager
POLYGON MANAGEMENT L POLYGON MANAGEMENT L 13F 2'062'713 2.33 - 31.03.2013 Investment Advisor
SIMPSON YALE R n/a SEDI 1'724'350 1.95 5'000 16.05.2013 n/a
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 1'712'875 1.94 1'712'875 31.03.2013 Investment Advisor
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 1'412'888 1.6 (134'100) 31.03.2013 Hedge Fund Manager
ROXBURGH BRYCE G n/a PROXY 1'409'450 1.59 - 26.04.2013 n/a
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 920'100 1.04 112'400 31.03.2013 Hedge Fund Manager
WELLS FARGO n/a ULT-AGG 785'000 0.89 - 30.04.2013 Investment Advisor
LOEWS CORPORATION LOEWS CORPORATION 13F 642'545 0.73 - 31.03.2013 Corporation
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 637'517 0.72 242'315 31.03.2013 Investment Advisor
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 - 28.03.2013 Investment Advisor
OPPENHEIMER & CO INC OPPENHEIMER & CO INC 13F 412'450 0.47 9'589 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 272'300 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
Salman Partners DAVID WEST speculative buy 4 M 2 12 month 19.06.2013
TD Securities DANIEL EARLE speculative buy 4 M 1 12 month 19.06.2013
BMO Capital Markets JOHN P HAYES Speculative Underperform 2 M #N/A N/A Not Provided 10.06.2013
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] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 5.50
52-Week Low (27.06.2013) 1.31
Daily Volume
1.52
52-Week High % Change -72.36% Dividend Yield 0.00
52-Week Low % Change 16.03% Beta 1.14
% 52 Week Price Range High/Low 5.01% Equity Float 33.24
Shares Out 31.05.2013 39.6 Short Int 0.55
60.19 1 Yr Total Return -67.17%
Total Debt 1.63 YTD Return -49.50%
Preferred Stock 0.0 Adjusted BETA 1.136
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 59.84 Consensus Rating 4.333
Enterprise Value 21.17
Average Volume 5 Day 160'238
RIC US EQUITY YTD Change - Average Volume 30 Day 121'070
RIC US EQUITY YTD % CHANGE - Average Volume 3 Month 119'966
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
70.6 71.9 90.5 118.6 101.7 120.3 100.0 105.0 134.0 - -
0.43x 1.15x 1.31x 2.51x 0.59x 8.02x 3.62x - - - -
9.8 6.9 19.7 40.5 8.2 35.4 2.9 - - - -
3.07x 11.99x 5.99x 7.36x 7.34x 5.63x 23.46x - - - -
1.6 0.3 9.3 25.9 (45.0) 19.2 (49.3) 2.0 17.0 - -
29.71x - 16.48x 14.78x - 13.36x 0.00x 35.53x 4.44x - -
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 -29.97% Short-Term Rating -
Return on Common Equity -38.71%
Return on Capital - EBITDA/Interest Exp. 12.48
Asset Turnover 0.61% (EBITDA-Capex)/Interest Exp. -45.23
Net Debt/EBITDA -14.56
Gross Margin 27.5% Total Debt/EBITDA 0.57
EBITDA Margin 2.9%
EBIT Margin -7.9% Total Debt/Equity 1.4%
Net Income Margin -44.2% Total Debt/Capital 1.4%
Asset Turnover 0.61
Current Ratio 3.63 Net Fixed Asset Turnover 1.23
Quick Ratio 3.04 Accounts receivable turnover-days 12.33
Debt to Assets 1.10% Inventory Days 37.17
Tot Debt to Common Equity 1.38% Accounts Payable Turnover Day 70.32
Accounts Receivable Turnover 29.61 Cash Conversion Cycle -23.79
Inventory Turnover 9.82
Fiscal Year Ended
Richmont Mines IncPrice/Volume
Valuation Analysis
207'095.00
Current Price (7/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
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120.0
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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] |
01.07.2013
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
VAN ECK ASSOCIATES C n/a ULT-AGG 3'048'064 7.7 402'996 28.06.2013 Investment Advisor
CAISSE DE DEPOT ET P CAISSE DE DEPOT ET P 13F 2'730'000 6.89 - 31.03.2013 Investment Advisor
RENAISSANCE TECHNOLO RENAISSANCE TECHNOLO 13F 1'999'000 5.05 (61'300) 31.03.2013 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
TECHNICAL FINANCIAL TFS CAPITAL LLC 13F 463'880 1.17 145'038 31.03.2013 Investment Advisor
CITIGROUP INCORPORAT n/a ULT-AGG 416'816 1.05 415'383 31.03.2013 Investment Advisor
US GLOBAL INVESTORS US GLOBAL INVESTORS 13F 310'000 0.78 50'000 31.03.2013 Investment Advisor
WEISS ASSET MANAGEME WEISS ASSET MANAGEME 13F 302'900 0.76 (1'697'100) 31.03.2013 Hedge Fund Manager
FMR LLC n/a ULT-AGG 230'900 0.58 85'600 31.03.2013 Investment Advisor
CANADA PENSION PLAN CANADA PENSION PLAN 13F 188'200 0.48 3'000 31.03.2013 Pension Fund (ERISA)
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
POWER CORP OF CANADA n/a ULT-AGG 55'750 0.14 - 31.03.2013 Holding Company
SCHERKUS EBERHARD n/a SEDI 50'100 0.13 (9'900) 28.09.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Desjardins Securities ADAM MELNYK buy 5 M 3 Not Provided 19.06.2013
CIBC World Markets KEVIN CHIEW sector perform 3 M 4 12 month 17.06.2013
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] |
01.07.2013
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 (30.07.2012) 0.60
52-Week Low (21.06.2013) 0.10
Daily Volume
0.135
52-Week High % Change -77.50% Dividend Yield 0.00
52-Week Low % Change 37.76% Beta 1.05
% 52 Week Price Range High/Low 2.39% Equity Float 307.09
Shares Out 08.05.2013 337.7 Short Int 4.03
45.60 1 Yr Total Return -72.16%
Total Debt 4.24 YTD Return -69.32%
Preferred Stock 0.0 Adjusted BETA 1.046
Minority Interest 0.0 Analyst Recs 2
Cash and Equivalents 48.76 Consensus Rating 5.000
Enterprise Value 6.29
Average Volume 5 Day 3'352'008
RMS AU EQUITY YTD Change - Average Volume 30 Day 4'488'522
RMS AU EQUITY YTD % CHANGE - Average Volume 3 Month 2'832'075
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 - - 127.5 158.3 - -
6.95x - 0.81x 1.95x 1.40x - - 0.19x 0.09x - -
2.2 11.8 38.0 108.6 12.8 - - 24.2 29.4 - -
46.27x - 1.30x 2.66x 9.27x - - 0.26x 0.21x - -
0.6 5.0 20.2 62.4 2.3 - - 2.2 11.7 - -
191.25x 19.23x 5.93x 5.98x 66.44x - - 27.00x 4.09x - -
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
3'180'887.00
Current Price (7/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
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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 - 14.09.2012 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
NORGES BANK Multiple Portfolios MF-AGG 3'114'406 0.92 - 31.12.2012 Government
DIMENSIONAL FUND ADV n/a ULT-AGG 2'687'685 0.8 - 29.03.2013 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
SCHRODER INVESTMENT Multiple Portfolios MF-AGG 2'125'196 0.63 256'211 31.03.2013 Investment Advisor
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
FMR LLC n/a ULT-AGG 980'000 0.29 - 30.04.2013 Investment Advisor
GORDON IAN JAMES n/a EXCH 796'021 0.24 (303'000) 01.05.2013 n/a
PRUDENTIAL FINANCIAL n/a ULT-AGG 608'253 0.18 - 31.05.2013 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 - 31.12.2012 Investment Advisor
BLACKROCK n/a ULT-AGG 160'134 0.05 - 27.06.2013 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
Ord Minnett DAVID BRENNAN buy 5 M 0 Not Provided 24.06.2013
Argonaut Securities Pty Ltd PATRICK CHANG buy 5 M 0 12 month 22.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (13.09.2012) 7.22
52-Week Low (24.06.2013) 1.26
Daily Volume
1.36
52-Week High % Change -81.16% Dividend Yield 0.00
52-Week Low % Change 7.94% Beta 1.72
% 52 Week Price Range High/Low 1.68% Equity Float 33.75
Shares Out 08.05.2013 43.3 Short Int 5.44
58.84 1 Yr Total Return -69.84%
Total Debt 0.00 YTD Return -70.37%
Preferred Stock 0.0 Adjusted BETA 1.720
Minority Interest 0.0 Analyst Recs 3
Cash and Equivalents 44.65 Consensus Rating 2.667
Enterprise Value 22.63
Average Volume 5 Day 1'041'757
AUMN US EQUITY YTD Change - Average Volume 30 Day 431'554
AUMN US EQUITY YTD % CHANGE - Average Volume 3 Month 370'435
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
419.5 12.4 11.2 1.8 26.1 8.2 25.5 28.0 39.2 5.8 7.5
- 1.87x 25.16x 86.44x 5.90x 98.33x 20.64x - - - -
25.0 (14.2) (32.0) (63.8) (34.7) (58.8) (30.9) (24.8) (22.4) (6.2) (5.9)
- - - - - 0.00x 0.00x - - - -
(118.2) 211.3 (33.3) (62.7) (92.0) (56.9) (88.2) (22.7) (22.1) (6.2) (6.0)
- 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 -23.90% Short-Term Rating -
Return on Common Equity -29.03%
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 -120.9%
EBIT Margin -162.9% 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 18.29
Debt to Assets 0.00% Inventory Days 39.25
Tot Debt to Common Equity 0.00% Accounts Payable Turnover Day 49.76
Accounts Receivable Turnover 19.96 Cash Conversion Cycle -8.14
Inventory Turnover 9.30
Fiscal Year Ended
Golden Minerals CoPrice/Volume
Valuation Analysis
3'145'453.00
Current Price (7/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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01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SENTIENT GLB RES IV n/a 13D/PROX 4'483'944 10.36 - 28.03.2013 Other
SENTIENT GLOBAL RESO n/a 13D/PROX 3'582'746 8.28 - 28.03.2013 Other
VAN ECK ASSOCIATES C n/a ULT-AGG 2'834'620 6.55 442'156 28.06.2013 Investment Advisor
GILDER GAGNON HOWE GILDER GAGNON HOWE 13F 1'640'517 3.79 (67'203) 31.03.2013 Investment Advisor
BLACKROCK n/a ULT-AGG 1'477'047 3.41 62'733 27.06.2013 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 4 585'256 1.35 44'500 01.06.2013 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 457'054 1.06 (8'854) 31.03.2013 Investment Advisor
GLOBAL X MANAGEMENT GLOBAL X MANAGEMENT 13F 441'479 1.02 (7'270) 31.03.2013 Investment Advisor
SGRF III PARALLEL I n/a 13D/PROX 357'044 0.83 - 28.03.2013 Other
DIMENSIONAL FUND ADV n/a ULT-AGG 342'882 0.79 50'235 31.03.2013 Investment Advisor
SUSQUEHANNA INTERNAT SUSQUEHANNA INTERNAT 13F 254'630 0.59 (156'257) 31.03.2013 Investment Advisor
BPI FUNDOS GFIM SA/P Multiple Portfolios MF-AGG 202'002 0.47 - 31.03.2013 Investment Advisor
GEODE CAPITAL MANAGE GEODE CAPITAL MANAGE 13F 179'519 0.41 2'169 31.03.2013 Investment Advisor
TIAA CREF INVESTMENT TIAA-CREF INVESTMENT 13F 169'397 0.39 10'600 31.03.2013 Investment Advisor
VOGELS ROBERT P n/a Form 4 165'331 0.38 24'000 01.06.2013 n/a
SUN VALLEY GOLD LLC SUN VALLEY GOLD LLC 13F 162'000 0.37 - 31.03.2013 Hedge Fund Manager
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 2 12 month 26.06.2013
Stonegate Securities Inc MARCO RODRIGUEZ no rating system #N/A N/A M #N/A N/A Not Provided 24.06.2013
TD Securities DANIEL EARLE reduce 2 M 0 12 month 24.06.2013
EVA Dimensions CRAIG STERLING underweight 1 D #N/A N/A Not Provided 14.05.2013
Holdings By:
Golden Minerals Co ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (14.09.2012) 1.11
52-Week Low (21.06.2013) 0.10
Daily Volume
0.105
52-Week High % Change -90.54% Dividend Yield 0.00
52-Week Low % Change 10.53% Beta 1.62
% 52 Week Price Range High/Low 0.99% Equity Float 323.26
Shares Out 31.05.2013 335.2 Short Int 0.50
35.20 1 Yr Total Return -88.71%
Total Debt 3.12 YTD Return -86.36%
Preferred Stock 0.0 Adjusted BETA 1.625
Minority Interest 0.0 Analyst Recs 7
Cash and Equivalents 11.58 Consensus Rating 2.429
Enterprise Value 42.32
Average Volume 5 Day 5'237'871
SGR CN EQUITY YTD Change - Average Volume 30 Day 4'975'763
SGR CN EQUITY YTD % CHANGE - Average Volume 3 Month 3'290'920
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
8.7 27.8 58.0 114.1 142.1 129.8 131.0 131.0 168.0 - -
31.33x 34.61x 19.66x 5.05x 1.76x 20.38x 7.45x - - - -
(44.1) (29.7) (18.9) 12.5 35.9 21.6 24.7 12.4 25.7 - -
- - - 46.18x 6.96x 20.29x 4.15x 3.40x 1.64x - -
(33.4) (29.5) (24.6) (5.1) (13.2) (0.4) (22.2) (12.3) 2.5 - -
- - - - - 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 -7.84% Short-Term Rating -
Return on Common Equity -9.57%
Return on Capital - EBITDA/Interest Exp. 91.77
Asset Turnover 0.46% (EBITDA-Capex)/Interest Exp. -106.87
Net Debt/EBITDA 0.29
Gross Margin 14.5% Total Debt/EBITDA 1.92
EBITDA Margin 18.9%
EBIT Margin -16.2% Total Debt/Equity 1.3%
Net Income Margin -9.3% Total Debt/Capital 1.3%
Asset Turnover 0.46
Current Ratio 1.46 Net Fixed Asset Turnover 0.63
Quick Ratio 0.86 Accounts receivable turnover-days 28.21
Debt to Assets 1.17% Inventory Days 46.04
Tot Debt to Common Equity 1.34% Accounts Payable Turnover Day 33.73
Accounts Receivable Turnover 12.94 Cash Conversion Cycle 41.93
Inventory Turnover 7.93
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
4'399'249.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
BANK OF NOVA SCOTIA n/a ULT-AGG 26'550'000 7.92 (16'975'000) 30.04.2013 Bank
UNITED SERVICES AUTO Multiple Portfolios MF-AGG 13'600'000 4.06 - 28.02.2013 Investment Advisor
JOHN HANCOCK ADVISER Multiple Portfolios MF-AGG 13'296'317 3.97 - 30.04.2013 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 - 28.02.2013 Investment Advisor
MANULIFE ASSET MANAG Multiple Portfolios MF-AGG 8'581'053 2.56 2'724'250 28.02.2013 Investment Advisor
WYNNE HUGH n/a SEDI 8'234'002 2.46 74'000 18.04.2013 n/a
FRANKLIN RESOURCES n/a ULT-AGG 8'001'200 2.39 45'000 28.03.2013 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 - 30.04.2013 Investment Advisor
LB SWISS INVESTMENT Multiple Portfolios MF-AGG 1'600'000 0.48 - 29.04.2013 Investment Advisor
VANGUARD GROUP INC Multiple Portfolios MF-AGG 1'378'186 0.41 - 31.03.2013 Investment Advisor
GINN DALE n/a SEDI 1'356'140 0.4 20'000 16.04.2013 n/a
SHARE SICAV Multiple Portfolios MF-AGG 1'306'600 0.39 176'300 31.12.2012 Investment Advisor
BHR FUND ADVISORS LP Multiple Portfolios MF-AGG 1'225'000 0.37 (150'000) 28.03.2013 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
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'011'203 0.3 (2'177'100) 28.03.2013 Investment Advisor
BOULAY RICHARD A n/a SEDI 760'763 0.23 (100'000) 01.06.2011 n/a
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 700'000 0.21 - 31.01.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
Cowen and Company ADAM P GRAF outperform 5 M 0 12 month 26.06.2013
TD Securities DANIEL EARLE hold 3 M 0 12 month 19.06.2013
EVA Dimensions TIMOTHY STANISH underweight 1 M #N/A N/A Not Provided 06.06.2013
Stonecap Securities Inc CHRISTOS DOULIS underperform 1 M 0 12 month 03.06.2013
CIBC World Markets COSMOS CHIU sector underperform 1 M 0 Not Provided 13.05.2013
Mackie Research Capital Corp. BARRY D ALLAN buy 5 M 0 12 month 13.05.2013
BMO Capital Markets BRIAN QUAST underperform 1 M 0 Not Provided 10.05.2013
National Bank Financial PAOLO LOSTRITTO Under Review #N/A N/A M #N/A N/A Not Provided 17.04.2013
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] |
01.07.2013
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: 03/yy
52-Week High (20.09.2012) 2.47
52-Week Low (24.06.2013) 0.32
Daily Volume
0.42
52-Week High % Change -83.00% Dividend Yield 0.00
52-Week Low % Change 31.25% Beta 1.46
% 52 Week Price Range High/Low 4.65% Equity Float 80.41
Shares Out 31.05.2013 85.7 Short Int 0.22
35.99 1 Yr Total Return -68.42%
Total Debt 0.00 YTD Return -75.29%
Preferred Stock 0.0 Adjusted BETA 1.455
Minority Interest 0.0 Analyst Recs 11
Cash and Equivalents 16.83 Consensus Rating 4.091
Enterprise Value 23.17
Average Volume 5 Day 473'061
ORE CN EQUITY YTD Change - Average Volume 30 Day 539'007
ORE CN EQUITY YTD % CHANGE - Average Volume 3 Month 475'042
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 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) (35.7) (30.2) (13.9) (5.7) - -
- - - - - 0.00x 0.00x - - - -
(12.8) (1.8) (8.9) (30.3) (4.8) (34.7) (6.8) (16.5) (10.1) - -
- - - - - 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 -25.71% Short-Term Rating -
Return on Common Equity -27.88%
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 -61229.90
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
306'111.00
Current Price (7/dd/yy) Market Data
'
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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
SUN VALLEY GOLD LLC n/a SEDI 13'394'600 15.63 1'370'000 01.05.2013 Hedge Fund Manager
VAN ECK ASSOCIATES C n/a ULT-AGG 11'225'518 13.1 - 31.03.2013 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 - 28.02.2013 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 3'001'020 3.5 (306'950) 31.03.2013 Hedge Fund Manager
BEUTEL GOODMAN & COM Multiple Portfolios MF-AGG 2'093'500 2.44 (23'500) 30.04.2013 Investment Advisor
LITTLE RONALD n/a PROXY 1'840'639 2.15 - 22.04.2013 n/a
HALVORSON MICHAEL n/a SEDI 1'531'798 1.79 100'000 02.05.2013 n/a
GLOBAL STRATEGY FINA Multiple Portfolios MF-AGG 1'455'787 1.7 (470'400) 28.03.2013 Investment Advisor
BMO INVESTMENTS INC Multiple Portfolios MF-AGG 1'121'600 1.31 - 31.01.2013 Investment Advisor
LOMBARD ODIER DARIER Multiple Portfolios MF-AGG 993'762 1.16 - 31.03.2013 Investment Advisor
IG INVESTMENT MANAGE Multiple Portfolios MF-AGG 899'800 1.05 - 28.02.2013 Investment Advisor
QUANTEX AG Multiple Portfolios MF-AGG 890'000 1.04 (20'000) 29.03.2013 Investment Advisor
AGF INVESTMENTS INC Multiple Portfolios MF-AGG 814'125 0.95 (173'300) 28.03.2013 Investment Advisor
FALCON FUND MANAGEME Multiple Portfolios MF-AGG 739'625 0.86 - 28.03.2013 Investment Advisor
MARQUIS PASCAL n/a SEDI 658'519 0.77 27'270 17.02.2012 n/a
HALCORP CAPITAL LTD n/a SEDI 372'720 0.43 100'000 02.05.2013 Investment Advisor
FMR LLC n/a ULT-AGG 372'100 0.43 - 30.04.2013 Investment Advisor
SMITH & WILLIAMSON H n/a ULT-AGG 360'319 0.42 - 28.03.2013 Investment Advisor
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
CIBC World Markets JEFF KILLEEN sector perform 3 D 2 12 month 28.06.2013
SBG Securities MICHAEL STARKE speculative buy 4 M 1 12 month 28.06.2013
Canaccord Genuity Corp NICHOLAS CAMPBELL speculative buy 4 M 1 12 month 25.06.2013
RBC Capital Markets JONATHAN GUY sector perform 3 M 1 12 month 24.06.2013
Desjardins Securities ADAM MELNYK buy 5 M 1 Not Provided 21.06.2013
BMO Capital Markets ANDREW BREICHMANAS market perform 3 M 2 Not Provided 20.06.2013
Casimir Capital STUART MCDOUGALL speculative buy 4 M 3 Not Provided 17.06.2013
Raymond James BRAD HUMPHREY outperform 5 M 2 12 month 12.06.2013
GMP ANDREW MIKITCHOOK buy 5 M 2 Not Provided 29.05.2013
National Bank Financial PAOLO LOSTRITTO outperform 5 M 3 12 month 10.05.2013
Jennings Capital DAN HRUSHEWSKY speculative buy 4 N 3 12 month 06.05.2013
Holdings By:
Orezone Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |
01.07.2013
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: 03/yy
52-Week High (21.09.2012) 10.75
52-Week Low (28.06.2013) 1.53
Daily Volume
1.86
52-Week High % Change -82.70% Dividend Yield 0.00
52-Week Low % Change 21.57% Beta 1.71
% 52 Week Price Range High/Low 3.58% Equity Float 12.44
Shares Out 18.06.2013 15.3 Short Int 0.01
28.42 1 Yr Total Return -76.38%
Total Debt 188.45 YTD Return -79.33%
Preferred Stock 0.0 Adjusted BETA 1.709
Minority Interest 1.0 Analyst Recs 1
Cash and Equivalents 1.30 Consensus Rating 4.000
Enterprise Value 197.89
Average Volume 5 Day 86'101
GCM CN EQUITY YTD Change - Average Volume 30 Day 82'984
GCM CN EQUITY YTD % CHANGE - Average Volume 3 Month 58'706
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 0.0 0.0 137.7 168.2 159.6 163.2 169.0 201.0 - -
- - - 1.81x 1.94x 6.59x 6.31x 1.88x 2.42x - -
(0.2) (0.2) (0.2) 1.5 14.8 9.6 10.9 7.0 40.0 - -
- - - 164.64x 22.07x 23.36x 25.13x 28.27x 4.95x - -
(0.3) (0.3) (0.1) (37.0) (36.2) (18.0) (23.9) (24.0) 5.0 - -
- - - - - 0.00x 0.00x - 5.89x - -
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 -3.38% Short-Term Rating -
Return on Common Equity -5.43%
Return on Capital - EBITDA/Interest Exp. 1.68
Asset Turnover 0.23% (EBITDA-Capex)/Interest Exp. -4.04
Net Debt/EBITDA 15.59
Gross Margin 10.8% Total Debt/EBITDA 15.77
EBITDA Margin 6.7%
EBIT Margin -3.5% Total Debt/Equity 44.3%
Net Income Margin -21.5% Total Debt/Capital 30.7%
Asset Turnover 0.23
Current Ratio 1.39 Net Fixed Asset Turnover 0.28
Quick Ratio 0.28 Accounts receivable turnover-days 41.32
Debt to Assets 24.61% Inventory Days 43.86
Tot Debt to Common Equity 44.33% Accounts Payable Turnover Day 134.54
Accounts Receivable Turnover 8.83 Cash Conversion Cycle -33.90
Inventory Turnover 8.32
Fiscal Year Ended
Gran Colombia Gold CorpPrice/Volume
Valuation Analysis
107'034.00
Current Price (7/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] |
01.07.2013
Holder Name Portfolio Name Source Amt Held % Out Latest Chg File Dt Inst Type
US GLOBAL INVESTORS n/a PROXY 1'885'406 12.34 - 17.04.2012 Investment Advisor
CAPITAL GROUP COMPAN n/a ULT-AGG 1'207'000 7.9 - 31.03.2013 Investment Advisor
FRANKLIN RESOURCES n/a ULT-AGG 500'000 3.27 (33'068) 28.03.2013 Investment Advisor
ICE ROSE HOLDINGS n/a SEDI 326'000 2.13 3'960 25.09.2012 Holding Company
IACONO SERAFINO n/a SEDI 188'016 1.23 6'600 27.09.2012 n/a
LA CAMPA MIGUEL DE n/a SEDI 152'150 1 5'320 20.02.2013 n/a
FMR LLC n/a ULT-AGG 70'600 0.46 - 30.04.2013 Investment Advisor
TARIBO HOLDINGS n/a SEDI 51'380 0.34 940 28.01.2013 Holding Company
LOPEZ AUGUSTO n/a SEDI 43'610 0.29 23'460 12.09.2012 n/a
TOSCA ASSETS CORP n/a SEDI 40'000 0.26 - 30.08.2012 Other
ORINOQUIA BELT CA n/a SEDI 26'624 0.17 5'200 23.08.2012 Other
DAVIES MICHAEL MONIE n/a SEDI 23'674 0.15 800 21.08.2012 n/a
HOLLENCREST SECURITI HOLLENCREST SECURITI 13F 18'660 0.12 - 31.03.2013 Investment Advisor
TD ASSET MANAGEMENT Multiple Portfolios MF-AGG 17'563 0.11 - 31.12.2012 Investment Advisor
TORINO CONSULTANTS n/a SEDI 16'000 0.1 - 15.11.2010 Other
MARTINEZ TO HERNAN J n/a Co File 14'400 0.09 - 26.03.2013 n/a
VOLK PETER n/a SEDI 14'246 0.09 - 30.04.2013 n/a
PACHECO MARIO n/a Co File 13'000 0.09 - 26.03.2013 n/a
EAST DONALD n/a SEDI 10'320 0.07 2'400 06.02.2012 n/a
BRANGER JAIME PEREZ n/a SEDI 8'874 0.06 2'920 11.06.2012 n/a
Firm Name Analyst Recommendation Weighting Change Target Price Date Date
GMP GEORGE V ALBINO speculative buy 4 M 9 12 month 24.06.2013
Holdings By:
Gran Colombia Gold Corp ee
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |