Cardero Resources Corp. is an AMEX listed security that has been trading in a range between $1.22 and $2.95 over the past year. With 47,301,440 shares outstanding, a recent price of $1.87 gives a total market capitalization of $86,561,637. While there are certainly larger companies, Cardero Resources Corp. has definitely earned its place in the pack. Last year, Cardero Resources Corp. created $-0.18 in earnings for every share outstanding.
Cardero 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, Cardero Resources Corp. is unlikely to be an interesting value proposition.
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