12.20 +0.02 (0.16%)
After hours: 5:38PM EST
|Bid||12.19 x 500|
|Ask||12.20 x 1200|
|Day's Range||12.11 - 12.46|
|52 Week Range||12.11 - 20.36|
|PE Ratio (TTM)||9.90|
|Forward Dividend & Yield||0.12 (0.96%)|
|1y Target Est||17.37|
Will Inflationary Pressure Give Gold Some Buoyancy? Precious metals’ reaction was also due to economic numbers indicating the health of the US economy in general. Last week, the CPI number—which measures changes in prices for goods and services purchased by consumers—was standing at 0.5%.
Goldcorp (GG) has the highest EV-to-forward-EBITDA (enterprise value to forward earnings before interest, tax, depreciation, and amortization) multiple of 8.0x among its senior gold miner peers (GDX). Its production growth has remained muted for the last two years, and its costs have trended higher. As we’ve seen in the previous parts of this series, Goldcorp’s production, costs, and reserves are expected to improve significantly over the years, backed by a solid project pipeline, which is progressing on schedule and budget.
At the end of 4Q17, its net debt and adjusted net debt was $2.2 billion and $2.1 billion, respectively, which implies a reduction of 3% and 5%, respectively, from its net and adjusted net debt at the end of 2016. In 2017, the company repaid $160 million in project finance facilities for Pueblo Viejo. Goldcorp has $500 million in debt due March 15, 2018, which it intends to repay through either cash from operations or drawing on its credit facility. It expects liquidity and free cash flow over the next five years to drive down its net debt to zero.
Barrick Gold Corp. managed to cling to the title of world’s largest miner in 2017, but Executive Chairman John Thornton made it clear he won’t be pressuring the troops to repeat that this year.
Barrick Gold, the world's largest producer of bullion, has yet to deliver on the "conundrum" of growth, but it will not make an acquisition simply to bulk up, Chairman John Thornton said an investor ...
Newmont Mining Corp (NEM.N) laid out plans on Thursday for new projects to grow gold production and cut costs, while reporting market-beating profits and output forecasts that position it to take the title of world's largest bullion producer in 2018. Newmont, whose 2017 production slightly lagged industry leader Barrick Gold (ABX.TO), boosted its 2018 capital budget by $300 million, to $1.2-$1.3 billion, after approving a power project at an Australian mine and expansion of a joint venture mine in Nevada. Chief Executive Gary Goldberg said Newmont's efforts to attract a broader investor base, by sweetening its dividend and focusing on shareholder returns, is drawing increased interest from generalist investors.
Barrick Gold on Thursday predicted ongoing gold production declines in the long term, positioning the miner to lose its status as the world's biggest bullion producer, but it said key projects could boost ...
Goldcorp (GG) has one of the strongest project pipelines in the industry. At Penasquito, the Pyrite Leach Project (or PLP) is 62% complete and expected to start commissioning in 4Q18, which is three months ahead of schedule. This project is expected to add ~1 million ounces of gold and 44 million ounces of silver over the current life of the mine.
The VanEck Vectors Gold Miners ETF (NYSEArca: GDX), the largest exchange traded fund dedicated to gold mining stocks, is once again attracting investors. GDX is comprised of global gold miners, with a ...
Barrick Gold predicted annual production of more than 4 million ounces of bullion between 2023 and 2027 on Thursday, a long-term view following last week's near-term forecast of lower output and higher costs from the world's biggest producer. The Toronto-based company also said its Chief Operating Officer, Richard Williams, will step down and take on a new role that will focus exclusively on talks with Tanzania for its troubled Acacia Mining unit. Senior Vice President Greg Walker will oversee operations.
Goldcorp’s (GG) produced 646,000 ounces of gold in 4Q17, a decline of 15% year-over-year (or YoY). Goldcorp’s full-year production came in at 2.6 million ounces, which is slightly higher than its guidance of 2.5 million ounces. Goldcorp has guided for production of 2.5 million ounces in 2018 with +/-5% variance, which is in line with its previous 2018 guidance as well as the guidance for 2017.
TORONTO, Feb. 22, 2018-- Barrick Gold Corporation today outlined plans to maximize long-term value from the Company’ s portfolio of high-quality, long-life gold operations and projects. These assets are ...
Goldcorp (GG) generated total revenues of $3,423 million in 2017, which is a decline of 2% YoY (year-over-year). Goldcorp’s production costs also fell 9% YoY to $1.89 billion due to the closure of the Marlin mine and sale of the Los Filos mine. Goldcorp’s net earnings were $658 million, or $0.76 per share, for 2017.
Goldcorp (GG) reported its 4Q17 results after the market closed on February 14. It held a conference call the next day to discuss the results. Goldcorp thoroughly beat the consensus EPS (earnings per share) estimate of $0.10 by $0.18.
Gold geeks will have to wait for Newmont Mining Corp. to disclose one more decimal place to see if it overtook Barrick Gold Corp. as the world’s biggest bullion producer.
The company ended the year with cash and cash equivalents of $1.03 billion. This liquidity position is more significant, given that the company doesn’t have any debt maturity until 2021, which should help it invest in future development opportunities. In its 4Q17 earnings call, Kinross Gold’s management sounded upbeat about the company’s strong financial position.
Compared to its closest peers, Kinross Gold (KGC) has been a higher-cost gold producer. As a result, Kinross Gold is highly leveraged to gold prices compared to its peers (GDX) Goldcorp (GG), Barrick Gold (ABX), and Newmont Mining (NEM). In this part of the series, we’ll see how Kinross is trying to improve its unit costs.
Along with releasing its 2017 results, Kinross Gold (KGC) also announced an acquisition of two hydroelectric power plants in Brazil from a subsidiary of Gerdau (GGB). The rationale behind this acquisition is to secure long-term, low-cost power for its Paracatu mine in Brazil. This power should lower the overall production costs for the company’s Paracatu mine over its mine-life.
Senior gold miners, which are large, established miners with various assets in multiple geographies, usually have lower-risk and highly liquid stocks. While there are variations between different miners, as a group, they usually follow gold prices. Senior miners Barrick Gold (ABX), Newmont Mining (NEM), Goldcorp (GG), and Kinross Gold (KGC) make up a substantial 25.4% of the VanEck Vectors Gold Miners ETF (GDX).
Kinross Gold (KGC) released its 4Q17 and 2017 results on February 14, after the market closed, and held a conference call with analysts on February 15. Kinross Gold stock dropped ~7% on February 15, underperforming the VanEck Vectors Gold Miners ETF (GDX), which fell just 1.0%. Goldcorp (GG) and Barrick Gold (ABX) also released their 4Q17 results on February 14 and held earnings calls the next day.