I doubled my position today, admittedly it is still not a large one. Some very rough numbers:
Backwards-looking (FY23 actuals)
Shares outstanding: 1,368M
SP: A$1.71
FX: 0.67 AUDUSD
Market Cap: US$1,567M
Less cash of US$522M
EV: US$1,045M
At average sale price of US$1,803/oz, AISC of US$959, and production of 535koz, using ~90% ownership that's EV/EBITDA of 2.6xForwards-looking (CY23 guidance)Shares outstanding: 1,368M
SP: A$1.71
FX: 0.67 AUDUSD
Market Cap: US$1,567M
Less cash of US$622M (assuming they add ~US$50M p/q for the next six months - haven't factored dividends though)
EV: US$945M
At average sale price of say US$1,900/oz (bearing in mind the hedge book protection), taking midpoint of AISC US$1,060/oz and midpoint of production guidance, 90% ownership means EV/EBITDA of 2.4x
Happy to take the country risk here for that price. At a SP of A$2.30 just a few months ago it was trading on 3.9x EV/EBITDA.
Cheers
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Last
$2.68 |
Change
0.030(1.13%) |
Mkt cap ! $3.688B |
Open | High | Low | Value | Volume |
$2.66 | $2.69 | $2.63 | $8.880M | 3.321M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 11057 | $2.68 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.70 | 44589 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 11057 | 2.680 |
4 | 82980 | 2.670 |
2 | 31703 | 2.660 |
4 | 34390 | 2.650 |
1 | 7299 | 2.640 |
Price($) | Vol. | No. |
---|---|---|
2.700 | 44589 | 7 |
2.710 | 82542 | 4 |
2.720 | 64908 | 7 |
2.730 | 17704 | 2 |
2.740 | 28871 | 3 |
Last trade - 16.10pm 26/09/2024 (20 minute delay) ? |
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