bto or nfg, would appreciate
your comments and any other
gold stock names i might
consider.
We have tended to lean towards large caps, such as AEM. We think KRR and AGI are also buys. BTO is a fairly large cap, offering good value at only 10X earnings with a 4.7% dividend. The balance sheet is very solid with $500M cash. We like it, but consensus calls for very low growth in the next two years, and EPS is still down from 2020 levels. So buyers need to have some patience. The last quarter was OK. NGG has outperformed BTO, and also has cash (only $35M though). But it is not yet producing so is still losing money, with negative cash flow. While we think it has potential, at this time we would prefer producers, taking comfort in the ongoing cash flow in a tough environment vs owning a developer still burning cash.