Anglo Pacific Group plc (APY.TO)

Anglo Pacific Group plc (APY.TO) — VMCI valuation read

Headline read on APY.TO: VMCI of 58/100 versus a Energy sector median of 50. The 8-point above-median position is what makes Anglo Pacific Group plc a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on APY.TO: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on APY.TO: value (APY.TO trades at 15.0x earnings, 17% below the Energy median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Energy median (10.0%)), and risk (net debt to EBITDA of -1.4x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Energy 12.0x baseline.

APY.TO fell 3.7% over the trailing 7 days, with a -12.3% read on a 30-day basis.