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
$2.66 |
Change
-0.020(0.75%) |
Mkt cap ! $3.653B |
Open | High | Low | Value | Volume |
$2.64 | $2.67 | $2.64 | $2.300M | 866.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
31 | 48249 | $2.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.66 | 30339 | 18 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
36 | 36748 | 2.660 |
29 | 106044 | 2.650 |
30 | 152996 | 2.640 |
16 | 85860 | 2.630 |
12 | 41568 | 2.620 |
Price($) | Vol. | No. |
---|---|---|
2.670 | 51729 | 23 |
2.680 | 121822 | 22 |
2.690 | 48546 | 14 |
2.700 | 89825 | 16 |
2.710 | 190424 | 5 |
Last trade - 12.55pm 27/09/2024 (20 minute delay) ? |
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