Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Newmont Mining (NEM US): The World's Premier Gold Miner At ~10% FCF Yield

Barrick Mining (B US): Solid Q1 FY26, NGM IPO On Track

Gold At 4,500 USD/Oz: Seven Ideas To Look At In the Gold Space

OceanaGold Philippines, Inc. (OGP PM): Another Cheap Play On Gold Price

CNMC Goldmine (SGX:5TP): A Perfect Storm of Rising Gold Prices, Expanding Capacity & Surging Profits

Apex Mining (APX PM): Cheap Play On Gold, With Massive Growth Angle

Comparative Valuation & Gold Price Sensitivity Analysis of Four Gold Stocks

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>At gold prices of 4,500 USD/oz (vs. current price &gt;4,700 USD/oz), the stock trades at 9x PE and 4.2x EV-EBITDA, with a 3.5% dividend yield (50% payout on FCF). </li>
<li>
The North America IPO could be a catalyst for a structural re-rating, comprising holdings in NGM (61.5%), Pueblo Viejo (60%), and 100%-owned Fourmile, targeting completion by late 2026.</li>
<li>
This is a diversified 14-asset miner, with 85 million ounces of reserves (more than 17-year mine life) that provides a good, large-cap/liquid option geared to the gold price. </li>
</ul>


At gold prices of 4,500 USD/oz (vs. current price &gt;4,700 USD/oz), the stock trades at 9x PE and 4.2x EV-EBITDA, with a 3.5% dividend yield (50% payout on FCF). 

The North America IPO could be a catalyst for a structural re-rating, comprising holdings in NGM (61.5%), Pueblo Viejo (60%), and 100%-owned Fourmile, targeting completion by late 2026.

This is a diversified 14-asset miner, with 85 million ounces of reserves (more than 17-year mine life) that provides a good, large-cap/liquid option geared to the gold price. 


Barrick Gold (B US): An Option For Investors Looking At Diversified Asset, Large-Cap Gold Exposure