include, dont include, this is what telfer is trying to clear up regarding gg value. he said he was selling in next 2 wks after cc. this resulted in selling under 425. the current estimate isa lowballed .28 as dictated by fidelity and others who want a bullish report from which to trade to unsuspecting buyers in my opinion. watch the volumes and the block offerings after the report is out to get a clue what the big boys are doing.
That is my feeling as well (that the earnings estimates don't make sense).
And I agree that Telfer is trying to get things more predictable for investors in terms of comparing GG to other earnings reports.
My thought is that the average of .25 includes some estimates INCLUDING the gold sale and some EXLCUDING the gold sale. The higher ones likely include it while the lower ones likely exclude it.
In my view, if that is true, the "average" of those esimates is a meaningless number computed using apples and oranges, resulting in a number which seems low for sure if you going to include the gold sales.
And yet, lots of investors and others take the projections quite seriously when valuing the stock and issuing upgrades or downgrades.
As to whether the estimate is intentionally low, I'll leave that to others to speculate. I have no way of knowing who made the estimates and whether their motives were pure or not. I don't even know how they calculated the numbers in the first place as noted above.