RE:RE:Be Careful /will depend on price GOLD !!!!Me too dieter216: don't know who is worse > Dent or Habib ???
Habib still calling for TMM target $.55 !!!!
Timmins Gold Corp. (TMM-T,TGD-A)[USD] 9Aug2016: CAD0.72 1-Yr. Target: C$0.55 Div. (NTM): C$0.00 Div. (Curr.): C$0.00 1-Yr. Return: -23.6% Yield (Curr.): 0.0% Rating: Sector Perform Gold & Precious Minerals Qtly Adj EPS (Next Release: 2-Mar-16) Mar Jun Sep Dec Year 2014A $0.05A $0.02A $0.01A $-0.02A $0.07A 2015A $0.00A $0.00A $-0.01A $-0.03A $-0.05A 2016E $0.01A $0.01 $0.00 $0.01 $0.02 2017E $0.00 $0.00 $0.00 $0.00 $0.01 Industry Specific 2014A 2015A 2016E 2017E Rlzd Gold Price (US$/oz) $1,266 $1,172 $1,300 $1,400 Cost/Ounce $791 $1,019 $887 $398 Capex (M) $36 $31 $2 $1 Capitalization Market Cap. (M) 245 Net Debt + Pref. (M) C$-24 Enterprise Value (M) $221 Shares O/S (M) 340 Float O/S (M) 329 December-31 2011A 2012A 2013A 2014A 2015A 2016E 2017E Primary Per Share Adj EPS $0.26 $0.21 $0.07 $-0.05 $0.02 $0.01 CFPS $0.40 $0.44 $0.26 $0.02 $0.13 $0.02 Shares O/S (M) 144 146 162 249 318 319 Valuation Ratio Price/Adj. EPS 8.8x 4.2x 12.3x n.m. 21.9x 56.6x Price/Cash Flow 5.7x 2.0x 3.4x 7.0x 4.2x 23.8x Profitability Revenues (M) $156 $161 $154 $109 $112 $17 EBITDA (M) $69 $57 $43 $2 $23 $9 Income Tax Rate 0.4% 0.3% 0.5% 0.5% 0.5% 0.5% Net Income (M) $36 $15 $9 $-190 $-5 $3 Debt Analysis Current Ratio 1.5x 1.8x 2.0x 0.6x 1.6x 2.0x Capital Structure Total Assets (M) $218 $269 $312 $151 $140 $150 Working Capital (M) $23 $35 $44 $-16 $17 $27 Long-Term Debt (M) $0 $2 $0 $378 $95 $0 Common Equity (M) $137 $164 $214 $94 $116 $117 Total Capital (M) $79 $90 $129 $196 $223 $221 Financial Analysis Source: FactSet. Company Profile EDGE Scotiabank GBM Comparable Companies Valuation: 1.30x NAVPS Key Multiple Risks: contraction, commodity prices, technical and operational risks, and geopolitical risks Ovais Habib (Scotia Capital Inc. - Canada) ovais.habib@scotiabank.com | 416-863-7141 Timmins Gold Corp. (Timmins) is a Vancouver-based gold producer with the operating San Francisco open-pit heap leach gold mine in Sonora, Mexico, the Caballo Blanco gold development project in Veracruz, Mexico and the Ana Paula gold development project in Guerrero, Mexico. For Reg AC and important disclosures please visit www.gbm.scotiabank.com/disclosures