RE: RE: bottom out? This is my first look at PMG - Looks very cheap by most metrics so I had to dig into it a bit. Looks more like a cash flow story once I start to dig.
Looking at Cash Flow upcoming quarter: (and using this Q as a guide)
Opening Cash of 33 Million
Estimate Net Income 50 Million + Estimate Depreciation 90 Million
Less Derivative gain Estimate 50 Million
Means 120 Million Available for
Difference in Working Capital: Estimate 10 Million (loss)
Leaves 100 Million for
- Share Buyback 20 Million
- Dividends 11 Million
- Convertibles - 60 Million
- Exploration - Guess of 70 Million ? (Was 90 Million last Quarter)
- PP&E - 20 Million
Looks like the Net Income needs to get back over 140 Million a Quarter to stop the decline. They needed the extra 250 Million credit just to finance ongoing operations.
As cheap as it looks has to be a wait and see if they can increase revenue with the new explorations/properties.