With appreciation,
Ed
TKO has strong momentum year-to-date while also is up 15.5% over the last year. In FY2024, the company is expected to see a decline in both revenues and earnings, but this is expected to reverse in the future years with significant growth after. Recent financials saw EPS come in right at estimates of 8c, while revenues beat estimates of 151.29M coming in at $153.69 displaying 53% year-over-year growth. Adjusted EBITDA increased to $69.1M from $35.2M in the same quarter a year ago. Copper production from the Gibraltar mine was 34M pounds. Annual production of 123M pounds in 2023 was above the company's original guidance and 26% higher than in 2022. The company is preparing to advance the Yellowhead copper project into the environmental assessment process and is undertaking additional engineering work. These were strong results from TKO, displaying solid growth in both revenue and earnings. We think TKO is a decent name with good momentum, but it does have high debt and a relatively expensive valuation which makes it less attractive.