- Maverix Metals released its preliminary Q4 and FY2020 results last week, with record attributable production of 28,900 gold-equivalent ounces.
- This was a welcome beat on guidance compared to most other royalty/streaming names that struggled to meet their guidance mid-point due to COVID-19 related headwinds.
- However, a partial buyback on the Hope Bay royalty and weaker gold prices will make it difficult for Maverix to meet its previous FY2021 annual EPS estimates of $0.15.
- This does not affect the long-term picture, but leaves the stock less undervalued than it was over the short-term until development assets can pick up the ounces lost at Hope Bay.
For further details see:
Maverix Metals: A Strong Finish To FY2020