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...
Add PRN (ASX) to my watchlist
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Last
94.5¢ |
Change
0.005(0.53%) |
Mkt cap ! $901.2M | |||
| Open | High | Low | Value | Volume |
| 94.5¢ | 95.0¢ | 94.0¢ | $836.7K | 885.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 146323 | 94.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 95.0¢ | 184063 | 8 |
View Market Depth
| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
94.0¢ |
Change
0.005 ( 0.50 %) |
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| Open | High | Low | Volume | ||
| 94.5¢ | 95.0¢ | 94.0¢ | 190127 | ||
| Last updated 15.59pm 08/05/2024 ? | |||||
| PRN (ASX) Chart |