In the midst of the recent run-up of equity prices, finding undervalued companies with reasonable growth opportunities has gotten more difficult. The best place to search for value is amongst small-caps with relatively low coverage and limited interest amongst the average investor. Mitcham Industries (NASDAQ:MIND) is just one of those companies which is hard to generate excitement about.
Mitcham manufactures and leases seismic equipment to firms associated with oil and gas exploration and production companies. The company is the largest of its kind, and typically serves both national and international data-acquisition contractors who provide the data to the E&P firms. On the manufacturing end, the company produces various marine seismic equipment. Mitcham has a competitive advantage...
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