![]() Average P/NAV for senior gold producers, who exceed 1 million ounces a year, is currently around 2.11, compared to 2.31 during the previous peak, Credit Suisse reported. Average P/NAV for intermediate gold producers, with annual gold production below 1 million ounces, is currently around 1.19 times, compared to around 2.34 during the previous peak. “This trend is more pronounced for mid-cap/intermediate gold stocks, as large-cap/senior gold stocks have re-rated more quickly with generalist inflow,” the bank said.įor companies that Credit Suisse covers in North America, the average P/NAV is currently around 1.80 times, compared to around 2.25 during the previous peak. ![]() Valuation multiples are still below where they were in the last bull cycle for the gold market, Credit Suisse said. Credit Suisse sees more room for upside in gold-mining stocks based on the ratio of stock prices to net asset value (P/NAV), as well as an expectation that gold prices will rise some more.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |