It has undertaken a capital raising, so even if the earnings rebounded the earnings per share will be less. The estimates from the institutional offering is from 265m shares, an additional 124m (46%) shares issued for a total now of 389m shares. So if the EPS was somewhere in the 8-12c range, it effectively is now 5.5-8c per share. Similarly, with a pre-Covid share of around $1, the fair price now is around 68c - still c.20% above the current trading price.
MVF Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
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