No disagreement that NST trades at a premium, however PEs are about growth but they are measured on the past earnings.
Qantas PE will be considerably higher when this is done and it wont be through share price growth. Expect the denominator to shrink with no one travelling and their debt will be under pressure. There will be a time to buy Qantas, but wait for it to halve again. NST on the other hand is likely to reduce its PE through earnings growth with the forward much higher than the past.
Is the premium too high? Possibly, but one thing is certain, right now they are spitting out over 1m oz per annum and the margin is running at 1200-1300 per ounce.
You can do the math but that is not a high multiple.The other thing is that NST does not need to find customers so it is corona insulated.
Gold trades as a commodity.
Can't see NST holding its share price, page-13
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Last
$14.70 |
Change
0.265(1.84%) |
Mkt cap ! $16.58B | |||
| Open | High | Low | Value | Volume |
| $14.61 | $14.73 | $14.50 | $5.836M | 398.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 204 | $14.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.70 | 1179 | 14 |
View Market Depth
| Last trade - 10.37am 02/05/2024 (20 minute delay) ? |
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Last
$14.71 |
Change
0.265 ( 2.39 %) |
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| Open | High | Low | Volume | ||
| $14.64 | $14.73 | $14.51 | 78714 | ||
| Last updated 10.53am 02/05/2024 ? | |||||
| NST (ASX) Chart |