RE:New Investor QuestionAlireza wrote: Hello. I am a new investor researching GUY at the moment and want to start a position. The company seems to be very cheap at these valuations. Cormack and RBC have above $8 price targets with outperform ratings and gold price is going up. Is the weakness in price due to the company missing expectations in the past quarter? Is there something else looming that I should know? Thank you all in advance.
The board has been really quiet for the past several months re: GUY.
I did really well jumping in and out of this in 2016, but my last foray has been pretty disastorous.
My average cost per share is 6.75 which means I'm down 35%.
I agree with the narrative which is why I'm still long. Low cost producer, excellent management, good assets. -That and I can't bring myself to cut my losses! I genuinely believe we will be above $8 by Q1 2018, but GUY is not for the feint of heart.
I might submit that the political situation in Guyana is a plausible explanation for some of the volatility... Lord knows one missed quarter with a path to achieving 2017 guidance should not equal a 50% haircut. There has been some insider buying on weakness which is encouraging.
Perhaps a few vets will weigh in.
Good luck!