I agree. With zero rate interest and QEx for eight years, everyone put every penny they had into the booming equities markets; pulling it out of the Western P.M. ETFs. Mining stocks suffered as a result, most 5x times the drop in Gold prices. When Gold does recover, which it will, those miners still paying out dividends will benefit the most. AUY pays 3.66% The clowns running Barrick (into the ground) shot themselves in the foot when they cut the dividend to 2 cents to pay off the crooked Banksters holding bonds.
Sell into these far and in-between Gold rally driven pops on the way down to $5/sh.
For every 1 day ABX is up, it down for another four. The chart is still pointing down.
This is a classic dead cat bounce.
Operating Cash Flow: 2.06B
Levered Free Cash Flow: -437.90M
No wonder the value of shares is dropping 50% every year. All the cash flow and more is going toward debt holders (Banksters). Shareholders are getting scrood. Shareholders can wipe their #$%$ with the 2 cent dividend.
This stock is a bloody joke.
It accurately reflects the company it represents.
Goldcorp, Newmont , Rangold, even Auy are all better than this feckless, limpdik stock.
If they sell off their non-core assets, and pay down on the $10 Billion debt burden, they might generate a positive leveraged cash flow for once.
This is the Darth Vader of the Gold miners.
Huge debt overhead, massive legal fees and non-compliance issues,
no mining experience in top management, run by overpaid Wall street Banksters in silk suits.
Another typical day for this piece of sheet Wall Street Bankster owned co.
ABX income $2 Billion. Levered Free Cash Flow -437.90M. Profits from alll
the gold they sell to Red China goes to pay Wall Street suits and service the
huge debt overload. You load sixteen tons, and what do you get?....
GG Book Value $7.25 USD per share.
GG Levered Free Cash Flow: +71 Million
ABX Levered Free Cash Flow: -471. Million
Goldcorp has $542 Million more leveraged Free Cash Flow than Barrick,
the self-proclaimed biggest gold miner in the World (Biggest Debt holder for certain).
Goldcorp is actually doing a good job of managing their debt. At this price, I'll be buying more
AUY Levered Free Cash Flow: 258.55M
ABX Levered Free Cash Flow: -471. M
AUY has $730 Million more leveraged Free Cash Flow than Barrick, the self-proclaimed biggest gold miner in the World (more like the biggest in their own puny minds).
Yamana is actually doing a good job of managing their debt. At this price, I'll be buying more.
A tiny slice of the Evil pie.
Poison the indigenous people's water, spill Cyanide all over, blatantly flaunt environmental Laws, Bribe local officials, sleep with the most evil Squid Banksters in the World.... that's all you baby. Dr. Evil would be very proud.
Crooked Hedge Funds and Banksters are using Huge HFT computers and naked shorts to smash the price of Gold. Although the price was "allowed" to rise in anticipation of the Fed meeting, they will smash the price down again, regardless of whatever the Fed's decision or announcement may be. The Market will of course go bonkers.
No one, especially any of the other struggling miners (NEM, Goldcorp, AUY) is willing or able to take on Barrick's huge $10 Billion Debt.. A buyout is never going to happen. Bankruptcy, yes, Buyout, definitely NO.
Crooked hedge funds are driving down the price of Yamana using HFT computers and naked short selling, so they can buy out the remaining shares for $1 Billion in a hostile takeover of Yamana's $20 Billion in physical Gold reserves.
Cyanide got its name from the pale blue colour of skin in the dead victims of cyanide poisoning.
Anybody else see the negative relationship here?
Hers's another relationship: ESLR. Upper escargot management took on more debt to pay their huge multi-Million Dollar bonuses for meeting their own "goals" while diluting the stockholder shares with multiple new stock offerings, until the price of the shares went from $20, to under $1, where they were delisted, before going bankrupt.
Crooked Banksters will continue to Smash the price of Gold up until the Fed meeting for no good reason,
then try to Smash the price down again after the announcement, no matter what that announcement may be.
Gold miners are the beaten, dirty, mangy dogs of Wall Street, crooked Banksters with their fake Fed funny money are king.