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Sydnee Gatewood
Sydnee Gatewood
Articles (3566) 

AzValor Comments on Suncor

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November 02, 2020 | About:

Suncor (TSX:SU) is a producer of oil and refined products based in Canada. Its stock price has plunged from USD 53 to USD 15 in just two years due to the sharp drop in the price of crude oil. We believe that the robustness of its operations, a reasonable balance sheet, and boasts very low marginal production costs (below USD 30/barrel) will generate a normalized profit (with crude oil at USD 55/barrel) for which we barely paid 6 times at our average purchase price.

From azValor Asset Management's third-quarter 2020 letter.


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