viewHighland Gold Mining Ltd.

Highland Gold remains on Numis buy list after half term profit fall


Shares in Highland Gold(LON:HGM) were off slightly after a widely anticipated fall in half term earnings.

The Russia-focused group reported a 25 per cent drop in underlying earnings (EBITDA) following a rise in cost to US$804 per ounce of precious metal produced.

Broker Numis, which was expecting EBITDA of around US$75 million, pointed out the group has a very strong balance sheet with around US$151 million cash and equivalents.

More to the point Highland has restored the dividend, which marks out from many developing miners in the gold sector.

Numis also points out that full-year production guidance remains intact at between 200 and 215,000 ounces of gold.

Analyst Cailey Barker says Highland’s “defensive growth story remains compelling at these levels”, with the stock trading at a cheap-as-chips 0.8 times its net asset value.

The stock remains a ‘buy’, though the price target inches down to 195 pence a share from 200 pence.

At 11.00 am, the stock had registered a 0.25 pence loss to trade at 124.25 pence. It values Highland at just over £400 million. The year high was just over 200 pence.


Quick facts: Highland Gold Mining Ltd.

Price: - GBX

Market: AIM
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


TomCo Energy updates on status of POSP operations and initial oil production...

TomCo Energy PLC (LON:TOM) CEO John Potter updated investors on operations and initial production at Greenfield Energy’s POSP project in Utah. Potter, along with Valkor LLC's CEO and CTO Steven Byle and Coby Crawford confirmed that the Petroteq oil sands plant (POSP) at Asphalt Ridge is...

10 hours, 41 minutes ago

2 min read