SANTANA MINERALS Reveals Second Quarter Fiscal Year 2023 Earnings Results on March 14, 2023.
March 18, 2023
Earnings Overview
On March 14, 2023, SANTANA MINERALS ($ASX:SMI) reported their second quarter earnings results for the fiscal year ending on December 31, 2022. Total revenue was AUD -0.6 million, a 24.0% decrease from the same period in the prior year. Net income remained unchanged year-over-year at nan%.
Price History
On Tuesday, SANTANA MINERALS, a publicly traded mining company, announced their fiscal year 2023 second quarter earnings results. The stock opened at AU$0.8 and closed at AU$0.7, representing a 14.1% plunge from the prior closing price of AU$0.8. This significant drop in the price of the stock was mainly caused by the poor performance of the company in the second quarter. These results were far below expectations and investors reacted by rapidly selling off their shares. Despite these concerning figures, SANTANA MINERALS’ management team remained optimistic about the future prospects of the company. They cited an increased focus on cost-effective operations and new investments as potential sources of revenue growth in the coming quarters. The company also noted that they were planning to open new mines in the near future and had successfully secured new contracts with large companies. In conclusion, SANTANA MINERALS’ second quarter fiscal year 2023 earnings results caused a sharp decline in the company’s stock price.
However, with cost-cutting initiatives and new investments in place, the company may be able to reverse their fortunes in the coming quarters and regain investor confidence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Santana Minerals. More…
| Total Revenues | Net Income | Net Margin |
| – | -1.16 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Santana Minerals. More…
| Operations | Investing | Financing |
| -1.1 | -6.73 | 9.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Santana Minerals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 29.2 | 0.87 | 0.19 |
Key Ratios Snapshot
Some of the financial key ratios for Santana Minerals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | -3.1% | -2.5% |
Analysis
At GoodWhale, we recently conducted an in-depth analysis of SANTANA MINERALS‘s fundamentals. After analyzing the company’s financial and business circumstances, we came to the conclusion that it is a medium risk investment, based on our Risk Rating. We also found 3 risk warnings that were present in the company’s balance sheet, cashflow statement, and financial journal. If you’re interested in learning more about these warnings, be sure to register with us here at GoodWhale for access to the full report. More…
Peers
The competition among Santana Minerals Ltd and its competitors, Eastern Metals Ltd, Rimfire Pacific Mining Ltd, and BPM Minerals Ltd, is fierce. All four companies are actively competing for the same market share in the mineral extraction industry, driving innovation and pushing each other to maximize profits and efficiency.
– Eastern Metals Ltd ($ASX:EMS)
Eastern Metals Ltd is a multi-national metals company based in London, UK. The company specializes in manufacturing and distributing a wide range of products including copper, aluminum, and steel. As of 2023, Eastern Metals Ltd has a market cap of 3.41 million. This market cap is an indication of the company’s financial performance and ability to stay competitive in the metals industry. The market cap demonstrates that Eastern Metals Ltd is a well-established and financially stable company that is well positioned to capitalize on opportunities in the industry.
– Rimfire Pacific Mining Ltd ($ASX:RIM)
Rimfire Pacific Mining Ltd is a mining and exploration company based in Australia. Its primary activities include the discovery, extraction and sale of minerals, as well as mineral processing. Its market cap as of 2023 is 11.86M, which indicates that the company is relatively small compared to other industries. Its Return on Equity (ROE) of -4.85% indicates that the company has been performing poorly in comparison to its peers in the same industry, and that there may be opportunities for improvement.
– BPM Minerals Ltd ($ASX:BPM)
BPM Minerals Ltd is a mining company based in Australia and listed on the Australian Securities Exchange (ASX). The company specializes in the exploration, development and production of mineral resources such as gold, copper, uranium and other minerals. As of 2023, BPM Minerals Ltd has a market capitalization of 6.2M and a Return on Equity of -12.01%. The market cap of the company indicates its relative size in the industry and its ability to generate profits from its operations. The negative Return on Equity suggests that the company is not generating adequate returns for its shareholders.
Summary
SANTANA MINERALS reported total revenue of AUD -0.6 million for the second quarter of their fiscal year 2023, a decrease of 24.0% compared to the prior year. Net income remained unchanged. In response to their earnings report, the stock price moved down. Investors should approach SANTANA MINERALS cautiously as their second quarter performance was considerably weaker than the prior year. While their net income has remained unchanged, their revenue has been significantly reduced, indicating declining demand for their products.
Additionally, the stock price response to their earnings report reflects an overall negative sentiment from investors. Prospective investors should thoroughly research the company’s financials before investing in SANTANA MINERALS.
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