https://seekingalpha.com/amp/a…argest-shareholder-buying
Zitat von Simple DigressionsAlles anzeigenSummary
I sustain my bullish stance on Teranga. These days Teranga shares are trading at an EV/EBITDA multiple of 3.2. As the chart below shows, the company is among the cheapest West African stocks:
[Blockierte Grafik: https://static-seekingalpha-com.cdn.ampproject.org/i/s/static.seekingalpha.com/uploads/2018/8/243441_15356281554767_rId11.jpg]Source: Simple Digressions
This month the largest shareholder, David Mimran, purchased 155 thousand shares of Teranga paying C$3.58 a share. In my opinion, a share price around C$3.60 looks like a floor price for Mr. Mimran . If I am correct, a short-term downward trend in Teranga shares may be over.
In 1H 2018 the company delivered very decent results, supporting my bullish thesis on Teranga. Finally, this year the company started construction of the Wahgnion mine. In my opinion, the project is fully financed, which means that construction risk is contained in this case.
As a result, the answer to my initial question ("What happened to Teranga?") is quite easy: nothing. The company is in good condition and any price drop to around C$3.60 a share should be considered a buying opportunity.