sIt still trading at a huge price GHT, massive PE at yesterdays close when you know that big Jewel is offline for rest of year, will costs losts to fix and requires more investment - (more investment and it was ramping up lol)
The current price reflect an expectation of solid growth but reality is coming, NCM isn't growing, it never does, ...its reasonable to assume EPS will fall, the com[pnay has basically flagged it, hence price needs to come back to something normal. 27 Times historical earnings is just too much when production isn't really growing and just looking at the cashflows per mines, NCM isnt great, only held up by GDX imo, but as those shares come back I suspect NCM will come back down
I don't find paying 27 or 20 times earnings for a company with a major part of its business closed, requiring repairs and more investment necessarily attractive
NCM Price at posting:
$21.25 Sentiment: Sell Disclosure: Not Held
