| How Does Independence Gold Corp (CVE:IGO) Compare To The Basic Materials Sector? | |
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TSXV:IGO PE PEG Gauge Jan 16th 18 metals and mining companies are typically trading at a PE of 12x, below the broader Canadian stock market PE of 17x. This illustrates a somewhat under-priced sector compared to the rest of the market. Though, the industry did returned a lower 7.18% compared to the market’s 9.24%, which may explain the lower relative valuation. Since Independence Gold’s earnings doesn’t seem to reflect its true value, its PE ratio isn’t very useful. A loose alternative to gauge Independence Gold’s value is to assume the stock should be relatively in-line with its industry. What this means for you:Are you a shareholder? Independence Gold has been a metals and mining industry laggard in the past year. If your initial investment thesis is around the growth prospects of Independence Gold, there are other metals and mining companies that have delivered higher growth, and perhaps trading at a discount to the industry average. Consider how Independence Gold fits into your wider portfolio and the opportunity cost of holding onto the stock. Are you a potential investor? If Independence Gold has been on your watchlist for a while, now may be a good time to dig deeper into the stock. Although its growth has delivered lower growth relative to its metals and mining peers in the near term, the market may be pessimistic on the stock, leading to a potential undervaluation. Before you make a decision on the stock, I suggest you look at Independence Gold’s future cash flows in order to assess whether the stock is trading at a reasonable price. For a deeper dive into Independence Gold’s stock, take a look at the company’s latest free analysis report to find out more on its financial health and other fundamentals. Interested in other basic materials stocks instead? Use our free playform to see my list of over 2000 other basic materials companies trading on the market.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.
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Independence Gold Corp.
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CODE : IGO.V |
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ISIN : CA45344A1075 |
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Independence Gold est une société d’exploration minière d'or et d'argent basée au Canada. Independence Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 13,2 millions CA$ (9,7 millions US$, 8,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 05 août 2016 à 0,50 CA$, et son plus bas niveau récent le 19 mars 2020 à 0,03 CA$. Independence Gold possède 56 090 000 actions en circulation. |