APX trading like gold, despite negative free cash flows
Gold prices have surged in the wake of the COVID-19 pandemic as investors look for safer places to park their money. The jump in gold prices has boosted investors’ willingness to pump billions into the gold mining industry. Warren Buffet’s Berkshire Hathaway Inc. added to its portfolio a Canadian gold miner, Barrick Gold Corp. In the past, Warren Buffett, the billionaire chairman of Berkshire, cautioned against investing in gold because it’s not productive like a farm or a company . Now with the jump in gold prices, gold miners are benefiting from surging bullion prices that are boosting profit margins as costs of production have steadied, making them increasingly attractive investments. Investors interest in gold miners has also caught Apex Mining Company, Inc.’s ( APX ) shares. APX is also trading like gold. APX is controlled by the port and gaming tycoon, Enrique K. Razon Jr. through his holding company Prime Metroline Holdings, Inc. which own 40....