Investors Still Aren’t Entirely Convinced By Perseus Mining Limited’s (ASX:PRU) Earnings Despite 26% Price Jump
Perseus Mining Limited (ASX:PRU) shares have had a really impressive month, gaining 26% after a shaky period beforehand. The last 30 days bring the annual gain to a very sharp 62%.
Even after such a large jump in price, Perseus Mining may still be sending very bullish signals at the moment with its price-to-earnings (or “P/E”) ratio of 9.7x, since almost half of all companies in Australia have P/E ratios greater than 21x and even P/E’s higher than 39x are not unusual. However, the P/E might be quite low for a reason and it requires further investigation to determine if it’s justified.
