Shares of BluMetric Environmental Inc. (TSXV:BLM) have surged more than 80% since Capital Ideas wrote about the company about six weeks ago
Capital Ideas Media | March 19, 2021 | SmallCapPower: With a new, environmentally-friendly administration in Washington DC, previously-overlooked companies such as BluMetric Environmental Inc. (TSXV:BLM) may now begin to attract some investor interest.
(Originally published on Capital Ideas Media on February 2, 2021)
BluMetric is an environmental consulting and engineering company specializing in water and wastewater treatment, employing about 170 scientists, engineers, industrial hygienists, environmental auditors, project managers, financial management specialists, and support personnel with commercial and industrial, military, mining and government clients in both Canada and the United States.
[Editor’s Note: Shares of BluMetric Environmental have surged more than 80% since Capital Ideas wrote about the company about six weeks ago.]
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Despite pandemic restrictions, the Company managed to increase its revenue to $28.6 million in Fiscal 2020, up from $28.3 million in 2019, while its net profit jumped 34% year over year to $471,000.
Notable, BluMetric’s Q4 revenue rose 58% to $10.4 million, as the Company said much of its work has been deemed essential, especially the government and military contracts.
Among BluMetric’s significant contract wins for 2020 were for an effluent treatment plant at a mine in Yellowknife as well as a COVID-19 preparedness operation for the Nunavut Department of Education.
Despite generating more than $28 million in yearly revenue, BLM trades at a minuscule market cap of $7.5 million and has just 28.7 million shares outstanding, making it a higher-risk speculation (its shares are also thinly traded).
BluMetric’s stock price, meanwhile, has climbed more than 79% over the past 52 weeks to $0.26 currently (now at $0.47).
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