RE:RE:Bad news coming BoyPlunger6 -
My gut feeling is that there is something more negative going on here than we know. The bloom is certainly off the rose with this one or at least it would appear that to be the case. Despite a very vigorous upmove in gold this past week back, especially yesterday over $1,500 the ounce, MMX has continued falling, even hitting the high $4s yesterday. How the mighty have fallen!
The move to the NYSE was supposed to broaden the trading. Has it? Not much, if any. What I think it did was open the share, already very highly priced with a P/E even after the fall thus far of approximately 140, to the shorts.
I believe the money in Maverix is migrating over to the others in the space which are lower-priced, particularly sub-1/2 buck Ely which has some fantastic properties including Fenelon.
Why would you pay $5 - 6+ for a royalty streamer when you could pay $0.40 and change for another with a stable of excellent streams and just a few less than the stock costing over 12X more???
This is the thing about the junior gold exploration space, whether it is the explorers or the royalty streamers, you always have to keep an eye on them because nothing is static.
Maverix now bears close scrutiny. Its momentum has gone from the top to the bottom.
The company has an earnings release on 19 November, I believe. It had better be stupendous just to justify/lower the present P/E let alone sustain a higher one or look for the share price to retract considerably more.
We will see.
Good fortune to all.