BNEFF - Bonterra Energy Remains Undervalued But Likely Not For Much Longer
2024-05-31 14:24:41 ET
Summary
- Bonterra Energy's Q1 2024 results showed solid progress on a sound plan to steadily increase output while maintaining a strong balance sheet. No red flags were evident.
- I value Bonterra based on a modified Black-Scholes model, which suggests a share value of over CDN$25.00, significantly higher than the current trading price.
- Using a conventional model, I value Bonterra shares at just over CDN$20.00, indicating that the company's shares are undervalued.
Last October, I wrote an article suggesting that Bonterra Energy ( BNEFF ) (BNE:CA) was undervalued when the shares were trading north of CDN$8.00 a share. So far, the shares have fallen. So much for my valuations?...
Bonterra Energy Remains Undervalued But Likely Not For Much Longer