Perseus Mining Ltd PRU

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A$2.41 +0.03 (1.26%)

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As of Jul 8, 2024 12:09am Delayed Price Open

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Company Report

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Commodity Price Update Q3 2024: Value in Mineral Sands, Gold, and Thermal Coal

Jon Mills Jun 27, 2024

Base metals prices surged earlier in the June quarter of 2024 before partially reversing due to concerns over China’s economy. Iron ore prices are broadly stable despite China's struggling property market and weak infrastructure spending, leading to questions over China's steel demand. After updating our commodity price assumptions, no-moat Iluka is the cheapest miner we cover, trading 31% below its unchanged fair value estimate of AUD 9.50.

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Price vs Fair Value

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PRU is trading at a 580% premium.

Price

A$2.38

Jul 5, 2024

Fair Value

A$4.64

Apr 4, 2024

Uncertainty

High

1-Star Price: A$2.15
5-Star Price: A$4.71
Economic Moat: Ztp
Capital Allocation: Kckqzplv

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 the end June of 2023, Perseus risks overpaying to discover, develop or buy replacement ounces.

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Trading Information

Previous Close Price: A$2.38
Day Range: A$2.41–2.43
52-Week Range: A$1.50–2.53
Bid/Ask: A$2.41 / A$2.42
Market Cap: A$3.32 Bil
Volume/Avg: 223,423 / 4.5 Mil

Key Statistics

Price/Earnings (Normalized): 6.83
Price/Sales: 2.17
Dividend Yield (Trailing): 1.57%
Dividend Yield (Forward): 1.57%
Total Yield: 1.57%

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 Value
Total Number of Employees: 464
Website: https://www.perseusmining.com

Competitors

Valuation

Metric	PRU	KGC	NST
Price/Earnings (Normalized)	6.83	17.84	18.39
Price/Book Value	1.56	1.69	1.73
Price/Sales	2.17	2.39	3.36
Price/Cash Flow	4.89	6.68	8.66

Price/Earnings

PRU

KGC

NST

Financial Strength

Metric	PRU	KGC	NST
Quick Ratio	5.36	0.33	1.85
Current Ratio	6.49	1.15	2.87
Interest Coverage	89.95	12.62	11.43

Quick Ratio

PRU

KGC

NST

Profitability

Metric	PRU	KGC	NST
Return on Assets (Normalized)	22.35%	5.47%	3.83%
Return on Equity (Normalized)	27.98%	9.56%	5.48%
Return on Invested Capital (Normalized)	25.00%	6.92%	5.21%

Return on Assets

PRU

KGC

NST

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