Canyon Resources Corp. is an AMEX listed security that has been trading in a range between $0.52 and $1.04 over the past year. With 44,133,830 shares outstanding, a recent price of $0.57 gives a total market capitalization of $25,597,621. While there are certainly larger companies, Canyon Resources Corp. has definitely earned its place in the pack. Last year, Canyon Resources Corp. created $-0.09 in earnings for every share outstanding.
Canyon Resources Corp. is currently priced by the market at 0.00 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.
With a share price under $50 a share and earnings per share below $1 a share, Canyon Resources Corp. is unlikely to be an interesting value proposition.
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