Perseus Mining Ltd PRU

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A$2.32 +0.11 (4.98%)

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As of Apr 26, 2024 6:10am Delayed Price Closed

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Company Report

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Opportunities in Mining Sector in Coal and Gold; Commodity Prices Generally Supportive

Jon Mills, Apr 16, 2024

Commodity prices diverged in the quarter. Despite solid China steel production, iron ore and metallurgical coal prices are down, while copper rose on supply issues and hopes of faster global growth. However, prices are elevated compared with history and cost-curve support.

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Price vs Fair Value

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PRU is trading at a 8% premium.

Price

A$2.21

Apr 24, 2024

Fair Value

A$4.95

Apr 4, 2024

Uncertainty

High

1-Star Price: A$9.95
5-Star Price: A$2.42
Economic Moat: Jxgsh
Capital Allocation: Ggrfswhyv

Bulls Say, Bears Say

Bulls

Perseus’ strong balance sheet means it is well placed to purchase or develop additional mines.

Bears

With only around five years of reserves at end-June 2023, Perseus risks overpaying to discover, develop or buy replacement ounces.

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Trading Information

Previous Close Price: A$2.21
Day Range: A$2.27–2.35
52-Week Range: A$1.50–2.36
Bid/Ask: A$2.32 / A$2.34
Market Cap: A$3.19 Bil
Volume/Avg: 5.4 Mil / 4.9 Mil

Key Statistics

Price/Earnings (Normalized): 6.26
Price/Sales: 1.99
Dividend Yield (Trailing): 1.67%
Dividend Yield (Forward): 1.67%
Total Yield: 1.61%

Company Profile

Perseus Mining in an Australia-based gold miner. It sold around 540,000 ounces of gold in fiscal 2023 from its three majority-owned mines in West Africa. Founded in 2004, Perseus purchased all three of its operating mines originally as exploration licenses or development projects. Its 90%-owned Edikan mine in Ghana achieved first gold in 2011, with 86%-owned Sissingue and 90%-owned Yaoure in Ivory Coast following in 2018 and 2020, respectively. The company also purchased its 70%-owned Meyas Sand gold project in Sudan in 2022. Excluding Meyas Sand, where development is on hold due to armed conflict in Sudan, the company had about five years of reserves at the end of fiscal 2023.

Sector: Basic Materials
Industry: Gold
Stock Style Box: Mid Core
Total Number of Employees: 464
Website: https://www.perseusmining.com

Competitors

Valuation

Metric	PRU	NST	EVN
Price/Earnings (Normalized)	6.26	21.14	26.70
Price/Book Value	1.43	1.99	2.08
Price/Sales	1.99	3.87	3.00
Price/Cash Flow	4.48	9.95	8.66

Price/Earnings

PRU

NST

EVN

Financial Strength

Metric	PRU	NST	EVN
Quick Ratio	5.36	1.85	0.53
Current Ratio	6.49	2.87	0.95
Interest Coverage	89.95	11.43	3.05

Quick Ratio

PRU

NST

EVN

Profitability

Metric	PRU	NST	EVN
Return on Assets (Normalized)	22.35%	3.83%	3.56%
Return on Equity (Normalized)	27.98%	5.48%	7.51%
Return on Invested Capital (Normalized)	25.00%	5.21%	6.25%

Return on Assets

PRU

NST

EVN

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