- Jaguar Mining released its preliminary Q1 results last week, reporting quarterly production of ~16,600 ounces, its worst quarter for consolidation production in more than two years.
- The lower production was related to rising COVID-19 case counts and flooding which impacted production, and while it has reiterated guidance, it expects to come in at the low end.
- The miss on Q1 production isn't a huge issue, but at the same time as gold sales will lag estimates, it has a new minor headwind, a strengthening Brazil Real.
- At a market cap of ~$274 million, Jaguar is reasonably valued, but I continue to see more attractive ways to play the sector elsewhere.
For further details see:
Jaguar Mining: A Tough Start To FY2022