TRQ Q1 Kaboom EarningsOver $500 million US, earnings per share beat estimates by 63 cents at $1.18 ... up over 300% year over year against 2020 Q1.
BOOM. Just wait until they get block caving in much higher grade ore at Hugo North, into an expanded concentrator, and ... higher copper and gold prices prevail perhaps?
The Mongolians can’t be too upset about $250 million coming onto their side of the OTLLC ledger either. So apart from their royalties, taxation, jobs, multiplier economic effects, balance of trade, currency support, they will be chipping away at their equity earn-in to the tune of $1 billion/year plus as a floor level at this rate. Yeah, they are going to tear up the IA over a crummy tax dispute. Not.
And TRQ is trading at 6x annualized earnings or so? I realize it’s just one quarter, but that is a laughable discount to peers.
See you upstairs!
cg