RE:RE:VGCX Retail Ownership at 57%GMT Capital is a hedge fund so they typically go long and short but I'm not convinced that it's soley GMT behind this move at this point. The problem we have is that the daily volume is so low that a few deep pocketed retail holders could be playing the long / short trade as well. GMT also manages private equity clients so what's to say they aren't playing the long / short game with the private equity accounts and looking like they're our friends holding 9.9% of VGCX shares? The problem with GMT holding less than 10% of VGCX shares is they dont have to report their trading activity so who knows what's really going on.
Someone may not be swooping in yet to take Victoria out but you can bet they're sculking around and watching very closely. You can bet they too are just waiting to see if Victoria has finally got their act together and either pick up the crumbs or make their move. Q2 and Q3 results will tell the tale and if a take out is coming that's when I'd expect it to occur because they'll want to strike before the share price can run back up too much.
One thing I know for sure is that this stock price is way undervalued based on NAV alone. But then Newmont in trading at less than 11 times 2024 FWD earnings and is 100% below NAV so Victoria isn't the only gold stock being beaten down.
HB77