{"id":331597,"date":"2025-02-20T23:40:35","date_gmt":"2025-02-20T15:40:35","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331597"},"modified":"2025-02-20T23:40:36","modified_gmt":"2025-02-20T15:40:36","slug":"stock-in-focus-philex-mining-corp-px-20-feb-2025-by-ap-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-philex-mining-corp-px-20-feb-2025-by-ap-securities\/","title":{"rendered":"Stock in Focus: Philex Mining Corp. (PX) – 20 Feb 2025 by AP Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>PX<\/td><\/tr>
Company Name<\/strong><\/td>Philex Mining Corp.<\/td><\/tr>
Broker<\/strong><\/td>AP Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>20 Feb 2025<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 8.79<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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Despite the massive jump in PX\u2019s share price, we believe that it is still undervalued compared to APX and OGP as it still has not fully priced in gold\u2019s bull run which saw the yellow metal\u2019s price surge by 79.6% since November. Considering that Silangan Mine will soon start commercial operations in late 2025\/early 2026 and production is
expected to be around 2,000 tons of raw ore per day, it should be high time for PX to start pricing in the jump in gold prices. <\/p>\n\n\n\n

Based on these assumptions and the historical correlation of the share price of gold mining peers to spot gold prices, we revise our Target Price for PX from P4.00 to P8.79 and we rate the company as our top gold mining pick with a STRONG BUY.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

Goldman Sachs raises 2025 gold price target to $3,100\/oz<\/strong><\/p>\n\n\n\n

Goldman Sachs raised its price target for gold to $3,100\/oz from $3,000\/oz, citing higher-than-expected 50 tons\/month demand from central banks. The bank also said that gold can hit as high as $3,300\/oz on speculative positioning if economic policy uncertainty persists.<\/p>\n\n\n\n

PX finally claims some of the spotlight<\/strong><\/p>\n\n\n\n

PX has largely lagged its gold mining peers in terms of tracking the rise in gold prices, mainly due to its Padcal Mine nearing the end of its mine life. However, the company recently announced that it is looking to extend Padcal\u2019s mine life up to 2028 and its new Silangan Mine is less than a year away from starting commercial production. We believe that these developments powered the spectacular 50.4% surge in PX\u2019s share price over the past five trading days. This jump was broad-based, with average value turnover surging to P171.1-Mn per day or nearly 37x of the stock\u2019s 52-wk average value turnover of P4.6-Mn.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>