International Royalty Corporation is an AMEX listed security that has been trading in a range between $4.06 and $8.33 over the past year. With 67,206,730 shares outstanding, a recent price of $7.40 gives a total market capitalization of $491,953,275. While there are certainly larger companies, International Royalty Corporation has definitely earned its place in the pack. Last year, International Royalty Corporation created $0.26 in earnings for every share outstanding.
International Royalty Corporation is currently priced by the market at 28.40 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, International Royalty Corporation could be an interesting value proposition.
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