MKO is a small ($357M market cap) gold miner that operates the high-grade San Albino open pit gold mine in Nicaragua. It also holds a 100% interest in the Eagle Mountain Gold project in Guyana and the Moss Mine in Arizona. Revenue growth has been solid, and margins have improved drastically in recent years. It generates good free cash flows, has a strong balance sheet, and has been buying back some of its shares. It trades at 3.4X book, and we like both its momentum and strength in fundamentals. It is a small name, however, and so there are small-cap risks, and volatility risks.
5i Research Answer: