NIA's #1 ranked overall stock suggestion for 2019, Fiore Gold (TSXV: F), is a steal here at $0.48 per share. It recently hit a high of $0.60 per share for a gain of 160.87% from NIA's November 22nd suggestion at $0.23 per share. Look for Fiore to hit new highs within the next 2-3 weeks, with their fiscal 3Q 2019 financial results likely to be released on August 28th. We already know with 100% certainty that Fiore Gold's fiscal 3Q results will be extremely strong because the company announced on July 16th that it achieved record quarterly gold production in fiscal 3Q 2019 of 11,573 oz up 7.57% on a quarter-to-quarter basis from its previous record quarterly gold production achieved in fiscal 2Q 2019 of 10,759 oz and up 16.15% on a year-over-year basis from gold production of 9,964 oz in fiscal 3Q 2018, which was also a record breaking quarter at the time! Currently, Fiore has a market cap of only CAD$46.9 million or USD$35.34 million. Fiore has an extremely strong balance sheet with CAD$28.84 million or $0.30 per share in positive working capital and a very strong current ratio of 5.80. Fiore has CAD$52.76 million in shareholder equity, which means Fiore is trading for below its book value of $0.54 per share!
There are a total of 258 publicly traded companies actively mining and generating revenue from the production of either precious or base metals. Of these 258 companies, only 96 are trading for below book value. Of the 96 producers of precious/base metals that are trading below book value, only 14 are debt free. Of these 14 companies, only 6 reported positive revenue growth in its most recent quarter on a year-over-year basis. Of these 6 companies, only Fiore Gold (TSXV: F) generated positive free cash flow on a trailing twelve month basis! If we remove the requirement of a price/book value ratio of below 1, there are only 7 revenue generating, debt free, precious/base metal mining companies (besides Fiore Gold) with positive revenue growth and positive free cash flow. These 7 companies are currently trading with a median price/book value ratio of 3.12. A price/book value ratio of 3.12 would value Fiore Gold at $1.68 per share for a gain of exactly 250% from its current price of only $0.48 per share!
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