I wouldn’t want to short this name as it’s got growth (post DDH buy), trading at around a 40% discount to book value (and that includes DDH), and doing a buyback (pause in buy-back to me is probably just being in black-out pending half yearly results in Feb).
Based on guidance (reconfirmed in Dec) , PRN should generate around $100m in free cash this year and over $120m in 2025 which puts it on a free cash flow yield of around 13%. So perhaps a restart in dividends in the near future.
Also super attractive at around 2.1x EBITDA (2024) which compares favourably to pre-covid history at 4-5x.
Interesting that other mining contractors (MAH, NWH ... EHL) seem to be catching a bit more of a bid over recent weeks.
All my opinion of course. DYOR
I wouldn’t want to short this name as it’s got growth (post DDH...
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Last
$1.00 |
Change
0.000(0.00%) |
Mkt cap ! $952.1M | |||
| Open | High | Low | Value | Volume |
| $1.00 | $1.03 | 98.0¢ | $3.114M | 3.088M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15196 | $1.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.01 | 8390 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| PRN (ASX) Chart |