Auric Mining Limited’s (ASX:AWJ) 39% Share Price Surge Not Quite Adding Up
The Auric Mining Limited (ASX:AWJ) share price has done very well over the last month, posting an excellent gain of 39%. Unfortunately, the gains of the last month did little to right the losses of the last year with the stock still down 32% over that time.
In spite of the firm bounce in price, it’s still not a stretch to say that Auric Mining’s price-to-earnings (or “P/E”) ratio of 20.4x right now seems quite “middle-of-the-road” compared to the market in Australia, where the median P/E ratio is around 21x. Although, it’s not wise to simply ignore the P/E without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
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