- Jaguar Mining was one of the top-performing gold miners last year, up over 320% in 2020.
- The company has seen a significant improvement in operations over the past year, returning to positive free-cash-flow and enjoying significantly higher margins.
- However, while Jaguar's operations have improved considerably, a 550% rally off its March lows has now pushed the stock to a lofty valuation.
- While this valuation doesn't preclude further upside, I see much better opportunities elsewhere in the sector with Jaguar trading at a valuation typically reserved for million-ounce producers.
For further details see:
Jaguar Mining: Valuation Becoming An Issue