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Industries (MIND - Snapshot Report)
the world’s surface has been mapped. You
can even capture an image of someone’s house via satellite on the other
the world. What we don’t know much about
is what lies beneath the soil, socks and water.
Below the earth’s surface is a plethora of resources that have yet to
leases and sells all types of geophysical equipment that are used to
and other studies for all sorts of industries around the globe.
are an essential piece of the puzzles as we work to make the world a
more efficient place with sufficient energy to power our growing
Description & Developments
Mitcham’s products are an essential part of our
energy solutions. A project like
Keystone XL would be impossible to complete.
Just about every major exploration or construction project needs
and studies before getting approved. In
the Keystone XL project alone there were hundreds of pages of
sizemeic, soil, water studies that were performed. Many of
these studies utilized products sold
becoming more cognizant of the effects that
our population has on our earth and because of that laws are in place
countries, states and municipalities to make sure the project is not
financially viable, but ecologically sensible as well.
alone is extremely deficient in the quality
of our infrastructure. Roads, bridges, electrical
grids, dams are all aging and will eventually need repair or
populations grow and economies improve from here,
there should be more demand for projects that utilize Mitcham’s
short term, demand for Mitcham should be mostly driven by
health and sentiment and MIND’s cheap valuations.
Mitcham is a small-cap company (300 million) that is trading
at about 17 times trailing earnings (P/E).
Looking forward, Zacks Consensus Estimates sees Mitcham’s
Communication’s P/E dropping to 13.5, with no change in
price from these levels.
became a Zacks Rank 1 stock on Friday.
quarter MIND reported sales growth of 40% year over year and 31% over
previous quarter with total sales of 71 million in FY2011.
are for Mitcham to make 69 cents
per share this quarter when they report on April 10th. Of the
3 analysts that cover the company, the consensus is for the company
to grow earnings by 417% in FY2012 and 33% in FY2013.
Remember that percentages can look extreme
when you jump from a small dollar amount like .54 to 2.34.
surprised analysts to the upside by 100%
last quarter, with the average earnings surprise being a positive 44%. Small cap growth companies like this have a
higher chance of surprises both up and down, due to the instability of
and lack of deep analyst coverage.
Performance & Technicals
The stock has made some extreme moves over the past
several months! Since hitting a low of
$9.52 in October, MIND has risen almost 158%.
This extreme movement is something to note and to perhaps be cautious
of. Small cap, lighter volume stocks
such as MIND carry additional risk. This
is not something you want to own if you are not a risk taker.
many of the stocks we have been following over the past several weeks,
it might be best to wait for the pullback
remains in a bullish channel, but we are seeing some consolidation
and $25. Another plus for the bulls is
that MIND is firmly above its 50 and 200 day moving averages of $19.23 and
has outpaced the S&P 500 by 112% over the past year and almost
6% over the
past month. It is up 60% more than the
S&P over the past 3 months alone!
there is certainly momentum here, but
use caution and less exposure if you decide to trade MIND.
A Levy is the Momentum Stock Strategist for Zacks.com. He is also the
charge of the market-beating Zacks
Whisper Trader Service.