Target prices are based on last reported NAV (end September). I do not know why this company is not appreciated. Considering the enthusiasm about tech stocks I would expect it to trade above NAV. Maybe too much twitter vs other pre-ipo stories? But in that case the private equity portfolio would be larger and usually that warrants more discount vs book. Puzzled.
Guidance: all-in sustaining costs (AISC) of $950-$1025/oz, +35% YoY production growth and -8% YoY costs. FCF yield (after sustaining capex) rising from 3% in 2014 to 7% in 2015, 9% in 2016 and continuing to improve thereafter.
We are close to a bottom in gold prices and this looks like one of the best intermediate producers.
Stock very strong in the last couple of days. But discounts still high. I think the stock has become attractive per se, with or without the merger happening. Valuations are cheaper than peers and Charter still available for a deal if CMCSA should walk away.
that's true but since I do not like oil in the short-term I use the strength to reduce my position. If I want exposure to oil I buy oil companies or drillers.
I am on the sidelines waiting to buy. I think the exposure to the oil industry is a worry so a little bit more of discount to fair value might let us play it safer. I think we need a better market especially regarding senior loans and junk. There have been a large inflow in the sector this week so let's see if this is the start of a trend after many negative months.
TLT had a monster year but now it's overbought at absurd levels. Doom and gloom, Syriza, deflation, terrorism, all the possible negatives drove TLT to $130 and more. Now a retracement is due. Hard to say when but a drop of at least 5 points is the minimum.