Successes and Failures are Parts of Trading. They are Not Permanent.

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*on buyback* Semirara Mining Corp.
#31
Sayang kung ok pa news d2 sigurado mas malaki pa itatas nito. Tingin ko lang babalik ito sa 220php.
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#32
up ko lang to....any take on scc mga bossing..
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#33
SEMIRARA MINING CORPORATION – SCC

CURRENT PRICE = PhP 221.00 (as of 092412)


P/E RATIO TEST:

2009 Earnings-per-share = PhP 6.6500
2010 Earnings-per-share = PhP 12.1000
2011 Earnings-per-share = PhP 16.9300
2012 2H Earnings-per-share = PhP 10.2000

Average earnings-per-share (based on the past 3 years and 3 quarters) = PhP 14.0200
Average price earnings ratio (based on the past 3 years and 3 quarters) = 15.76

Benjamin Graham recommends current price no more than 15 times average earnings (should be positive) over the past three years. This issue failed Graham’s price-earnings ratio test.

However, threshold value, P/E <15 should be taken as arbitrary level. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.


PRICE-TO-BOOK RATIO TEST:

Total Equity = PhP 14,167,535,799
Outstanding Shares = 356,250,000
Book-Value per Share = PhP 39.7685
Price-to-Book ratio (PB) = 5.56

Graham recommends that current price should not be more than 1.5 times the book value last reported.
This issue failed Graham’s price-to-book ratio test.

However, Threshold value, P/B <1.5 should be taken as arbitrary level. It is more useful to compare the ratios of one company to other companies in the same industry.


NET-WORKING-CAPITAL OR “RARE BARGAIN” TEST:

Current Asset = PhP 10,270,368,720
Total Liabilities = PhP 21,297,099,892
Net Working Capital = PhP (11,026,731,172)
Current Asset to Total Liabilities ratio = 0.48

* By “net-working-capital”, Graham means current assets (such as cash, marketable securities, and inventories) minus total liabilities (including preferred stock and long-term debt).

Current asset is less than total liabilities.
Graham recommends issues with positive net-working-capital.
This issue failed Graham’s net-working-capital or “RARE BARGAIN” test.

Likewise, equity is less than total liabilities.
Total liabilities to equity ratio = 1.50
This company is relatively highly leveraged (debt-ridden).


GRAHAM’S “BLENDED MULTIPLIER” TEST:

P/E = 15.76
P/B = 5.56
P/E*P/B = 87.60

Graham suggests that the product of P/E and P/B should not exceed 22.5 (should be positive).
This issue failed Graham’s “blended multiplier” test.

However, threshold value, P/E*P/B <22.5 should be taken as arbitrary level. It is more useful to compare the ratios of one company to other companies in the same industry.


LIMITATION OF THE ANALYSIS:

1. EPS calculation does not isolate “other income” and “extra-ordinary income”.
2. Analysis does not cover earnings stability, dividend records, earnings growth and futures earnings (or forward P/E ratio).
3. For future plans and prospects, read below reference.


REFERENCE:

http://www.pse.com.ph/resource/corpt/201...un2012.pdf
http://www.pse.com.ph/resource/corpt/201...ec2011.pdf

If You're So Smart, Why Aren't You Rich? - BATMAN The Animated Series: Season 1, Episode 41
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#34
SCC - SEMIRARA MINING CORPORATION

LAST TRADE PRICE = PHP 249.0000
LAST TRADE DATE: 01/25/13


P/E RATIO TEST:

2009 Earnings-per-share = PHP 6.6500
2010 Earnings-per-share = PHP 12.1000
2011 Earnings-per-share = PHP 16.9300
2012 Interim Earnings-per-share (9 months ending September 2012) = PHP 13.2300

Average earnings-per-share (based on the past 3 years and 3 quarters) = PHP 13.3300
Average price earnings ratio (based on the past 3 years and 3 quarters) = 18.68

Result of Graham's price-earnings ratio test: FAILED
Benjamin Graham recommends current price no more than 15 times average earnings.
However, P/E <15 should be taken as an arbitrary value. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.


PRICE-TO-BOOK RATIO TEST:

Total Equity = PHP 15,246,475,011
Outstanding Shares = 356,250,000
Book-Value per Share = 42.80
Price-to-Book ratio (PB) = 5.82

Result of Graham's price-to-book ratio test: FAILED
Graham recommends that current price should not be more than 1.5 times the book value last reported.
However, P/B <1.5 should be taken as an arbitrary value. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.

Moreover, average earnings to book ratio (similar to return on equity) = 31.15%


NET-WORKING-CAPITAL OR "RARE BARGAIN" TEST:

Current Asset = PHP 11,683,654,481
Total Liabilities = PHP 21,181,330,268
Net Working Capital = PHP (9,497,675,787)
Current Asset to Total Liabilities ratio = 0.55

* By "net-working-capital", Graham means current assets (such as cash, marketable securities, and inventories) minus total liabilities (including preferred stock and long-term debt).

Result of Graham's net-working-capital or "RARE BARGAIN" test: FAILED
Total liabilities is greater than current asset.
Graham recommends issues with positive net-working-capital.

Moreover, total liabilities is greater than equity.
Total liabilities to equity ratio = 1.39
This company is relatively highly leveraged.


GRAHAM'S "BLENDED MULTIPLIER" TEST:

P/E = 18.68
P/B = 5.82
P/E*P/B = 108.68

Result of Graham's "blended multiplier" test: FAILED
Graham suggests that the product of P/E and P/B should not exceed 22.5.
However, P/E*P/B <22.5 should be taken as an arbitrary value. Ratios do not tell us the whole story by itself. It is more useful to compare the ratios of one company to other companies in the same industry.


LIMITATION OF ANALYSIS:

1. EPS calculation does not isolate "extra-ordinary income".
2. Analysis does not cover earnings stability, dividend records, earnings growth and futures earnings (or forward P/E ratio).
3. For future plans and prospects, read below reference.


REFERENCE:

http://www.pse.com.ph/resource/corpt/201...ct2012.pdf
http://www.pse.com.ph/resource/corpt/201...ec2011.pdf


DISCLAIMER:

The author hereby expressly disclaims any responsibility for error, omission or inaccuracy in the information, misinterpretation and any all loss, disappointment, negligence or damage caused by reliance on this information.

The author shall not be responsible or liable for any trading or investment decisions made based on this information.
If You're So Smart, Why Aren't You Rich? - BATMAN The Animated Series: Season 1, Episode 41
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#35
kaya pala.

http://www.bworldonline.com/content.php?...e&id=65847
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#36
Di ko napansin kanina na bumaba pala ito. Mukhang ok sana nakapasok sa 220+. Smile
"Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success." Robert Kiyosaki
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#37
Still a very strong 7%+ discount.

caveat emptor.
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#38
ANC 24/7
RT @wddeguzman: Semirara: Of the 13 trapped, 3 rescued and 4 are confirmed dead. Search/Rescue operations continue for remaining 6
Planning without action is futile, action without planning is fatal (Unknown)

"Leave all things for God but never leave God for all things."

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#39
Vulture!
The World is a Vampire . . .
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#40
(02-14-2013, 11:38 AM)jbond28 Wrote: Di ko napansin kanina na bumaba pala ito. Mukhang ok sana nakapasok sa 220+. Smile

sobrang hirap pumulot sa 220. sandaling sandali lang tapos buy up kaagad nila sa 230.

“Naked I came from my mother’s womb, and naked shall I return. The LORD gave, and the LORD has taken away; blessed be the name of the LORD.” - Job1:21
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