Stock News Summary: Maverix Metals Inc. (NYSE: MMX)

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On 29 April 2020, Maverix Metals Inc. (NYSE: MMX) stock identified change of 72.51% away from 52-week low price and recently located move of -24.30% off 52-week high price. It has market worth of $517.77M and dividend yield of 0.92%. MMX stock has been recorded 11.99% away from 50 day moving average and -2.35% away from 200 day moving average. Moving closer, we can see that shares have been trading 9.44% off 20-day moving average.

Maverix Metals Inc (MMX) is happy to announce record operating and financial results for the fourth quarter and year ended December 31, 2019.

Full Year 2019 Financial Highlights

Record revenue of $44.7M;

Record attributable gold equivalent ounces produced of 26,668 ounces1 and record attributable gold equivalent ounces sold of 24,0212;

Record cash flow from operating activities, not including changes in non-cash working capital of $31.3M2;

Record cash flow from operating activities of $27.7M;

Average cash cost per attributable gold equivalent ounce sold of $217, resulting in cash operating margins of $1,645 per ounce2;

Adjusted net income of $9.2M2;

Net loss of $10.2M as a result of a non-cash impairment of $18.9M on the fixed payment contract from the Amulsar project; and

On March 4, 2020, Maverix’s Board of Directors reported a quarterly cash dividend of US$0.01 per ordinary share to be payable on or about April 15, 2020, to shareholders of record as of March 31, 2020.

Fourth Quarter Financial 2019 Highlights

Revenue of $13.9M;

Cash flow from operating activities, not including changes in non-cash working capital of $10.6M2;

Attributable gold equivalent ounces produced of 7,817 ounces1 and attributable gold equivalent ounces sold of 7,0962;

Average cash cost per attributable gold equivalent ounce of $226 resulting in cash operating margins of $1,729 per ounce2;

Adjusted net income of $4.0M2; and

Net loss of $14.9M as a result of a non-cash impairment of $18.9M on the Amulsar project.

2020 Outlook

The Company continues to expect the before reported guidance of attributable gold equivalent ounces to be between 27,000 and 30,000 ounces2 for 2020 with about 99% of predictable revenue to be derived from gold and silver.

The Company intends to change its presentation currency for financial reporting and other disclosure from CAD to the United States dollar (“USD”) as part of the release of its first quarter results in 2020. The change in presentation currency is to better reflect the Company’s business activities and to improve investors’ ability to compare the Company’s financial results with other publicly traded precious metals royalty and streaming companies. The Company will apply the change to USD presentation currency retrospectively and restate the comparative financial information as if the new presentation currency had always been the Company’s presentation currency. All amounts in this news release are expressed in CAD, unless identified otherwise.

Dividend

The quarterly cash dividend of US$0.01 per ordinary share will be paid to shareholders of record as of the close of business on March 31, 2020, and will be distributed on or about April 15, 2020.

This dividend is designated as an “eligible dividend” for the purposes of the Income Tax Act (Canada). Dividends paid by Maverix to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes. The declaration, timing, amount and payment of future dividends remains at the discretion of the Company’s Board of Directors.

The Basic Materials sector company, Maverix Metals Inc. noticed change of $4.33 along average volume of 116.25K. MMX’s shares are at -15.92% % for the quarter and driving a 12.76% return over the course of the past year. The average volatility for the week at 7.75% and for month was at 7.53%.

 

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