Analyst Theodore R. O’Neill reiterates Brookmount Gold Corp. (Brookmount Explora… – Press Release

NEW YORK, March 14, 2023 (GLOBE NEWSWIRE) — Analyst Theodore R. O’Neill, who leads independent research firm Litchfield Hills Research, reiterates Brookmount Gold (Brookmount Explorations, Inc.) BMXI (BMXI.US) with a Buy Rating and a $6 price target.

Key highlights from the report (verbatim):

• Shares selling for a significant discount to peers. Shares are trading at a ~96% discount to peers on a multiple of sales, ~95% discount to earnings and a ~89% discount to book while book, earnings and sales are growing.
• Minor miss to estimates. The company reported 4Q22 revenue and EPS of $3.2MM and $0.03, respectively (See Figure 2). We had been looking for revenue and EPS of $4.6MM and $0.06, respectively. There is no consensus. The unfavorable $0.03 EPS variance was primarily due to lower sales. On the earnings conference call, management explained the sequential downturn in sales was due to spending more time exploring better gold seams and partly due to an increase in its AU inventory in expectation of higher prices.
• Balance sheet update. There was an increase in inventory, which management said was due to expectations of higher gold prices in subsequent months. Prices have since risen. There was an increase in PP&E that went into extending the life of its existing plant.
  

The report can be accessed by using the link provided below.
https://ift.tt/VJi9CXI

The report from Litchfield Hills Research covering Brookmount Gold has been distributed by the analyst on Friday 10^th of March 2023.

Mr. O’Neill’s investment thesis, methodology, disclaimers and disclosures can be found at the back of the report, available on our website at https://ift.tt/pI9ZvzL

Theodore O’Neill, the CEO of Litchfield Hills Research, is a two-time winner of the Wall Street Journal All-Star Analyst.

Litchfield Hills Research is an independent global equity research firm providing institutional investor quality research for companies looking to…

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