How could've they missed this?
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I've been pounding the table on this multi-billion-dollar gold miner for over six months.
Well, it just announced earnings last week. Just like I've been predicting…
This major gold miner is spitting out free cash flow like a broken ATM. How profitable is it?
This miner is making so much money at today's gold price, it just announced a $1 billion buyback, along with another $1 billion in dividends.
You can't fake free cash flow.
Go here to learn the name and ticker of this major gold miner – and find out which company I expect Warren Buffett to buy before August 15th.
Now, here's the crazy thing about this latest earnings blowout...
Wall Street had no idea.
Wall Street has been dead asleep on profitable gold miners for the last 18 months. In fact…
Wall Street analysts were caught flatfooted for a reason so lame it's almost unbelievable…
They modeled their analysis on a second-quarter gold price of just $3,094.
Even without doing any math, you probably know that gold has been well above $3,094 for nearly all of Q2… rising as high as $3,500 on April 22.
If you valued gold at $3,094…
Earnings don't look that impressive. Except that gold's average price wasn't $3,094.
The correct, average price of gold in the second quarter was $3,286 – an error of more than 6.2%.
This is the kind of error that makes me wonder what a Wall Street analyst analyzes all day.
Wall Street has been dead asleep on gold miners for more than 18 months. Now…
They're waking up.
The bottom line is, Wall Street analysts are desk-jockeys… not gold analysts. Most still treat gold like every other paper asset.
Big mistake.
The reason my top four gold picks are up 46%... 127%... 251%... and 494% in the last 18 months is simple:
My model for valuing free cash flow at a discount… just plain works. Period.
If you want the details on the top four gold stocks in the market today – still selling at massive discounts to the value of their free cash flows…
Best, – Garrett Goggin, CFA, CMT
Chief Analyst and Founder, Golden Portfolio |
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