We are initiating coverage of Calima Energy (CLMEF) with a valuation of US$0.55.
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The management of Calima Energy has been fairly impressive to this point
We believe this is a fairly conservative way to value Calima and we believe there is an upside call of sortson the valuation due to the Montney asset, which could have multiple positive outcomes as outlinedabove. We believe an energy company that is returning cash to shareholders and expanding productiondeserves some benefit of the doubt and believe our valuation reflects that to some modest degree.
Givenall of these assumptions, we arrive at valuation of A$1.65, and use a A$1.50/$1.00 conversion rate forthe currency to arrive at the US dollar valuation of $1.10, which we then divide in half due to marketforces apparently depressing the stock price at this point to arrive at our valuation of CLMEF of $0.55.
https://s27.q4cdn.com/906368049/files/News/2022/Zacks_SCR_Research_08092022_CLMEF_Sorensen.pdf
We are initiating coverage of Calima Energy (CLMEF) with a...
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| Open | High | Low | Value | Volume |
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