شراء
AG.TO set to rebound following TSX Index selling pressure relief
Argonaut Gold (AR.TO) was removed from the S&P/TSX Index in Dec, adding selling pressure to a prime tax-loss selling candidate. It broke out of the recent downtrend with heavy volume on Dec 19, creating a bullish swing trade set up with a $3 target (82% potential gain). The abnormal volume on Dec 19 was due to final Index rebalancing.
The company now trades with a market cap of 254M, yet has cash of 45M and Assets of 918M - and no long term debt. 9 month YTD revenues are 117M with EBIT of 8.5M.
This is nicely set up to rebound to 3/share before encountering longer term downtrend resistance - which will only be broken with an improving gold price.
Share price will obviously fluctuate with gold prices, but the stock has dropped by over 50% since Oct 3, yet gold is the same price ($1,200).
The company now trades with a market cap of 254M, yet has cash of 45M and Assets of 918M - and no long term debt. 9 month YTD revenues are 117M with EBIT of 8.5M.
This is nicely set up to rebound to 3/share before encountering longer term downtrend resistance - which will only be broken with an improving gold price.
Share price will obviously fluctuate with gold prices, but the stock has dropped by over 50% since Oct 3, yet gold is the same price ($1,200).
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.