The announcement of a company’s financial results almost always leads to a move in its stock one way or another and for the Mentor Capital Inc (OTCMKTS:MNTR) stock it was a good day as the company delivered strong numbers in the third fiscal quarter.
Market Action
On Monday, MNTR stock soared 12.10% at $0.10 with more than 11k shares, compared to its average volume of 36k shares. The stock has moved within a range of $0.0886 – 0.1000 after opening trade $0.0886.
Mentor Capital Revenues Up 21.2% for the 3rd Quarter 2021
The stock moved upward as investors piled on to it yesterday and ended up with gains of as much as 12% as a consequence. The company announced that on a year on year basis, its revenues soared by as much as 21.2% and on the other hand, the gross profits jumped by 30%. In this context, it is also necessary to keep in mind that the trailing twelve month revenue for the company soared by 15.2% to hit as much as $5.47 million.
That worked out to 23.9 cents a share and that was considerably more than 8.86 cents a share as on November 13 this year. The trailing 12 month revenues figure is particularly significant and the Chie Executive Officer of the company Chet Billingsley spoke about it. He stated that the growth was primarily fuelled by the revenue growth that had been generated by Mentor’s subsidiary company Waste Consolidators Inc. Mentor owns a 51% stake in the subsidiary.
Key Quote
Mentor CEO, Chet Billingsley, notes that much of Mentor’s 15.2% trailing year-over-year revenue growth springs from Mentor’s 51% owned subsidiary, Waste Consolidators, Inc. (WCI). WCI’s revenue increased to $4.8 million for 2020, from $4.2 million in 2019 and $3.6 million in 2018, continuing a 14.6% annualized growth trend.
Traders Note
MNTR stock is trading below the 50-Day and 200-Day Moving averages of $0.1029 and $0.1343. However, the stock is trading above the 20-Day moving average of $0.0976. The stock is down 4% over the past month.
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