Loading ...Perseus Mining PRU.TO
I will figure out charts later, but was curious if anyone bought the big crash recently. Looks like plenty of upside potential. I bought a bunch right after it tanked. Up 18% today. Seems like a good miner from all I’ve researched. I can’t figure out, given its fairly good numbers, why it’s so undervalued. The only reason I was drawn to this stock is that it was mentioned a few months back on this site. I’m a novice at this so please have at it for you chartists out there.
Well…the bottom fell out at this one hit bedrock
In hindsight it was a strong buy there
In a case like this its good to find out what happened to cause this gap.
I dunno but it musta been BAD
Could have a good run here of course thru the thinnest of thin zones.
But one should do some dd to see what the problem was
https://stockcharts.com/h-sc/ui?s=PRU.TO&p=D&yr=1&mn=6&dy=0&id=p94353964203&a=497591531
Thanks Fully. I tried, but couldn’t find anything so far as to why. I’ve heard that sometimes it’s a calculated move by the company or big money sly traders to crash a stock before running it up. Just a guess.
big head and shoulders pattern that succumbed to gravity
https://stockcharts.com/h-sc/ui?s=PRU.TO&p=W&b=9&g=5&id=p12128625913&a=497597090&r=1483654606075&cmd=print
The crash was mainly fundamental, higher AISC than forcasted, and less ounves for one of its projects read press release dec 15
(“AISC”) for the period are now expected to be between US$1,550 to US$1,650 per ounce http://www.marketwired.com/press-release/perseus-mining-limited-provides-update-on-activities-2183413.htm
Fully said I have to make a comment…
Actually I know this one. I am a long term holder of this company. Good management and good raw resources strategically located in known mining areas.
The inside info is the area where their one operating mine is located had a bad storm and they had to shut down for care and maintenance. It is believed that Perseus under reported the impact of putting the mine C and M, not fully accounting for the time it takes to return the mine to service (More to this, but can’t remember now). They didn’t produce the oz’s they expected and were severely punished. It dropped at least 25% when that happened.
I’m holding it because I think this will be at least a 10 banger…. some day.
Thanks Tbone, just found the same info. It’s strange how mines with much worse fundamentals do just fine share wise. Perseus has a lot going for it, not to mention its fair value is estimated at about twice its current price.
High cost production