Classic value investing metrics plus analytics developed for mining stocks.

Our value metrics are presented in three tabs in the datagrid, with 5-7 metrics each. The Financial Strength and Profitability metrics are derived from financial statement data, and the Price-to-Ore Ratios employ resource and reserve data. The latter are arguably the most important criteria for evaluating an investment in mining stocks.

In the datagrid, the Financial Strength tab shows several metrics that analyze the balance sheet. These include such standbys as Working Capital and the Equity Ratio, as well as our own creation, Burn Time, which is simply an estimate of the number of months until a company's cash runs dry at the current pace of expenditures.

Financial Strength Datapoints:

• Burn Time: CASH / (Previous Year's CFFO/12) (Unique to this website)

  Indicates months remaining until cash runs out.

• Working Capital: Current Assets – Current Liabilities.

  Standard measure of short-term liquidity. Higher is better, but not directly useful for comparisons to other companies unless adjusted for size.

• Current Ratio: Current Assets / Current Liabilities.

  Standard measure of short-term liquidity, normalized for easy comparisons. Higher is better.

• Debt Ratio: Total Liabilities / Total Assets.

  Standard measure of balance sheet health. Lower (less debt) is better.

• Equity Ratio: Shareholders' Equity / Total Assets.

  Standard big-picture measure of leverage. Higher is safer, all else equal.