Property
Commented by Carsten Mainitz on October 22nd, 2026 | 05:38 CEST
Gold and Concrete Gold: When Asset Values and Share Prices Diverge – Lahontan Gold, Vonovia and LEG Immobilien Under the Microscope
On the stock market, assets sometimes have two prices: a calculated or theoretical value and the current market price, reflected in the share price. When the gap between value and price becomes (too) wide, opportunities may arise for forward-looking investors. Or are these valuation discounts nothing more than a value trap? The latest developments at three companies give us reason to take a closer look. The newly published PEA, which provides an initial indication of the potential value of Lahontan Gold's gold project, values it at eight times (!) the Canadian company's market capitalisation. Real estate stocks have been among the market's laggards in recent months, weighed down by rising interest rates, economic concerns and political uncertainty. Even major players such as Vonovia have been affected. LEG's recent investment highlights how share price declines can create attractive valuation levels. So what does all this mean for investors?
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