Birchcliff Energy Ltd T.BIR

Birchcliff sell-off is opportunity

[PlutusofCrete]

Michael Blair

Dec 20, 2022

15

8

 

Birchcliff Energy (BIR) has sold off in recent weeks and now trades at CAD$9.10 with a CAD$0.80 dividend rate planned for 2023 - at today’s price an 8.8% yield.

https://michaela34.substack.com/p/birchcliff-sell-off-is-opportunity?utm_source=twitter&sd=pf

Michael Blair

Dec 20, 2022

15

8

 

Birchcliff Energy (BIR) has sold off in recent weeks and now trades at CAD$9.10 with a CAD$0.80 dividend rate planned for 2023 - at today’s price an 8.8% yield.

Birchcliff has 266 million shares outstanding. I value Birchcliff common equity at ~CAD$5 billion (a higher than average multiple of a bit more than five times EBITDA plus cash balance) putting my valuation of BIR.TO shares in the CAD$18 to $20 range, more than double the current price.