Rational Investing

	Total Market Capitalization of All Firms	$255,177 mm
	Average Market Capitalization	$21,265 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	0.9
	Standard Deviation of MM Ratio	0.4
	Average Beta	1.2
	Average EV To Revenue	1.9
	Average EV To EBITDAM	23.0
	Average Price To Free Cash Flow	799.8

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
FCX	Freeport Mcmoran Copper & Gold	1.54	9,168	1.4	-8.9	30	19	1.9	Dec 19
SCCO	Southern Copper Corp.	1.34	20,717	3.4	12.3	26.9	11	1.0	Sep 19
5713	SUMITOMO METAL MINING CO LTD	1.33	6,098	0.4	20.1	44.3	4	1.0	Dec 19
BOL.ST	Boliden AB	1.32	4,773	0.2	27.9	30	13	1.1	Dec 19
GMKN.ME	GMK Noril`skiy nikel` OAO	1.01	40,255	3.5	478.1	30	18	1.2	Dec 18
NHY.OL	Norsk Hydro	0.81	4,060	0.3	11.1	10.7	0	1.1	Dec 19
RIO	Rio Tinto Plc	0.76	73,585	1.8	5.4	14.1	13	0.9	Dec 19
RIO.AX	Rio Tinto Limited	0.66	88,205	2.1	10.8	11.4	12	1.0	Dec 19
LIF.TO	Labrador Iron Ore Royalty Corp	0.65	707	3.9	6.3	8.0	1	0.8	Dec 19
LUN.TO	Lundin Mining Corporation	0.55	2,682	1.2	-43.3	10.5	32	0.8	Dec 19
FM.TO	First Quantum Minerals Limited	0.51	2,988	2.8	-15.4	30	22	2.9	Dec 19
KAZ.L	KAZ Minerals PLC	0.49	1,940	2.0	6626.1	30	18	1.1	Dec 19