Juan Jose Napuri
Just over five months ago, I wrote on Jaguar Mining (OTCQX:JAGGF), noting that while the stock was on track for another year of missed guidance, the stock would become a Speculative Buy at US$1.23 or lower. This turned out to be a poor call in hindsight as the stock plunged another 20% before finding its eventual bottom, but it’s since recovered these losses and was one of the best-performing producers in Q4 with a ~50% return. Unfortunately, the Q3 results were below my expectations, costs continue to track miles above the industry average, and it’s difficult to trust future projections after three years of significant guidance misses. In this update we’ll dig into the Q3 results, recent developments, and where the stock’s updated buy zone lies.
Jaguar Mining Operations – Company Website
Q3 Production & Sales
Jaguar Mining released its Q3 results in November, reporting quarterly production of ~17,300 ounces of…
