Weak gold and silver prices have pressured earnings and return on capital last couple of years. Finances are stable with a high equity ratio. CEO is a big owner of shares aligning interests with shareholders. Great upside if you believe gold and silver prices will revert up.
What is this business worth?
TBVPS equals 78% upside.
Earnings power value:
Last 5 years earnings average equals 51% upside.
Last 10 years earnings average equals 84% upside.
Disclosure: The author had a long position when this post/analysis was written.