JAGGF - Jaguar Mining: Valuation Improving After The Drop

• Jaguar Mining is one of the worst-performing gold stocks this year, down more than 33% vs. a (-) 4% return for the Gold Miners Index.
• The horrid performance can be attributed to a very rough Q1 report due to COVID-19 related headwinds, and the potential for another weak quarter with even higher cases in Q2.
• Unfortunately, this has reduced free cash flow potential for FY2021, with a high likelihood of softer free cash flow year-over-year despite a higher gold price.
• At a current share price of US$4.35, we've entered a low-risk buy zone, but I think there is better value elsewhere in the sector on a risk-adjusted basis.

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