Petropavlovsk Company News - Booming gold price drives sector revaluation
Yesterdays rally in the companys share price pushed it up to GBp 38.4 (+23%) and was driven by the market finally pricing in the gold prices recent performance, which has significantly increased the overall value of the gold mining sector. In case of Petropavlovsk, a steep one-time re-pricing was, in our view, triggered by the newsflow regarding Prosperity approaching The UK Takeover Panel and requisitioning an investigation of UGCs recent actions (a concert party suspected), which fuelled a corporate conflict at the companys board of directors. With Prosperity officially challenging the changes in Petropavlovsks board advocated for by UGC, Everest and Slevin, the probability of the latter has decreased, which allowed investors to look at the stock as if the companys corporate strategy and operations remain unchanged.Petropavlovsk is engaged in the mining of precious and non-precious metals which require it to hold licences which permit it to explore and mine in particular areas in Russia. Co.'s reportable segments, which are aligned with its operating locations, are Pokrovskiy, Pioneer, Malomir and Albyn hard-rock gold mines which are engaged in gold and silver production as well as field exploration and mine development.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.