Kalkine Media - Summary
- First Majestic, a producer of silver and gold across the US and Mexico, saw a monthly price increase of 17.57% as on July 14, 2023.
- Dundee Precious Metals (TSX:DPM), a mining company operating across Bulgaria and Namibia, saw a stock price increase of 5.54% for the one month ended July 14, 2023.
- Endeavour Silver (TSX:EDR) Corp, a gold and silver miner across Mexico and Chile, saw a price increase of 8.92% over the one month ended July 14, 2023.
The S&P/TSX Composite Index rose by 1.17% over the last month as on July 14, 2023. As the central bank aims to tame inflation within the target range of 1% to 3% per year, it announced a second consecutive rate hike in July.
Amid the ongoing inflationary concerns, the Bank of Canada increased its trendsetting interest rate to 5%. The central bank also believes that the economy is stronger than expected, meaning that inflation could move above the desired target range.
With that, here are three stocks priced under CA$15, which can be examined amid the current strength of the economy:
First Majestic Silver Corp. (TSX: TSX:FR)
First Majestic is engaged in silver and gold production. With a market cap of CA$2.45 billion, the company owns and operates mines across the US and Mexico.
The company’s quarterly total revenue for Q1 2023 stood at US$157 million, which was 6% higher than previous quarter’s total revenue. The operating cash flow was US$21.9 million in the March 2023 quarter, which excluded non-cash working capital and taxes. First Majestic’s cash and cash balance at the end of the March 2023 quarter was US$235.9 million
Dundee Precious Metals Inc (TSX: DPM)
Dundee is a company engaged in the acquisition and development of precious metals, which are mined in Bulgaria and Namibia.
For Q1 2023, Dundee produced over 68,000 ounces of gold and 7.2 million pounds of copper. The company also generated cash worth US$70.9 million from its operating activities and reported a free cash flow of US$ 65 million. Its revenue for the quarter stood at US$155.8 million, an increase of 1% over the previous corresponding period.
DPM has a P/E ratio of 24.33x based on Friday’s closing price of CA$9.72. The stock price saw a monthly increase of 5.54% and a weekly increase of 8.97% as on July 14, 2023.
Endeavour Silver Corp (TSX: EDR)
With a market cap of CA$865 million, Endeavour has silver-gold producing mines across Mexico and Chile. It currently holds three exploration projects in northern Chile.
Endeavour reported revenue of US$55.5 million from its silver and gold sales during Q1 2023. The operating cash flow for the period was US$12.5 million before working capital changes.
Meanwhile, Endeavour’s stock saw a price increase of 8.92% over the one month ended July 14, 2023. EDR also marked an increase of 21.83% over the week ended July 14, 2023.
The stock closed at US$4.52 on Friday. Based on its closing price on July 14, 2023, the stock has a P/E ratio of 551.28x.