|Bid||0.00 x 21500|
|Ask||0.00 x 1800|
|Day's Range||13.44 - 13.77|
|52 Week Range||11.64 - 15.55|
|PE Ratio (TTM)||18.08|
|Forward Dividend & Yield||0.08 (0.59%)|
|1y Target Est||N/A|
May.18 -- Goldcorp Chairman Ian Telfer explains why he thinks gold prices will keep going higher. He speaks with Bloomberg's Amanda Lang on "Bloomberg Markets."
was upgraded today to a "Buy" by TheStreet's Quant Ratings service. In the daily bar chart of GG, below, we can see that prices are in a neutral zone between the rising 200-day moving average line and the rising 50-day average line. The daily On-Balance-Volume (OBV) line has moved up and down with the price action.
Most precious metal mining stocks have fallen over the last few months due to falling gold prices. The US dollar’s revival has also impacted precious metals and mining stocks recently.
Goldcorp Inc. Chief Executive Officer David Garofalo says he’s happy with his company’s portfolio of assets, but that doesn’t mean he doesn’t have a wish list. In an ideal world, the company would have an asset in Nevada’s Carlin Trend. Barrick and Newmont are there and we should be there,” he said in an interview in Toronto, adding he’d also like to acquire something in Peru.
While gold stocks seemingly offer a viable solution, their overall performance has been unusually disappointing. When it does, today’s beaten-up and undervalued gold stocks could witness a robust revival. While I don’t begrudge the equities sector enjoying its resilient bull market, the underperformance in gold stocks doesn’t quite jibe.
Goldcorp Chairman Ian Telfer explains why he thinks gold prices will keep going higher. He speaks with Bloomberg's Amanda Lang on "Bloomberg Markets." (Source: Bloomberg)
Precious metal mining companies usually follow precious metals. Precious metals seem to be in the doldrums lately over the strength in the US dollar and the potential movement of US interest rates. The recent slump in demand for haven assets has also affected mining stocks.
Maurice Colson took the reins as CEO of China Goldcorp Ltd’s (TSXV:CAU.H) and grew market cap to CA$498.60K recently. Recognizing whether CEO incentives are aligned with shareholders is a crucialRead More...
The deal between PVDC and AES Andres is likely to reduce the average cost of sales of the Pueblo Viejo mine and benefit Barrick Gold (ABX).
All four precious metals appreciated on May 10, as forecast by RSI (relative strength index) scores the previous day. Gold rose 0.73% to $1,320.80 per ounce. Silver rose ~1.4% to $16.70, platinum rose 0.98% to $926.50, and palladium rose 2.4% to $1,002. Technicals and macroeconomic events boosted precious metals.
To receive further updates on this Goldcorp Inc. (USA) (NYSE:GG) trade as well as an alert when it’s time to take profits, sign up for a risk-free trial of Power Options Weekly today. Buy to open the GG Jul 14 Calls (GG180720C00014000) at $0.55 or lower.
The NuevaUnion gold and copper project in northern Chile plans to deliver its environmental impact statement by the end of 2018 after completing feasibility studies earlier this year, a source at the mine said on Friday. The project joins two mines - one belonging to Goldcorp and the other to Teck Resources - into one. NuevaUnion is expected to have a 36-year lifespan with an annual production of 224,000 tonnes of copper, 269,000 ounces of gold and 1,700 tonnes of molybdenum during its first 5 years of production.
Usually, precious metals mining companies follow precious metals. Precious metals seem to be in doldrums lately over the strength in the US dollar and the Federal Reserve’s decision to raise interest rates. The recent slump in demand for haven assets has also affected mining stocks.
Compared to its closest peers, Kinross Gold (KGC) has been a high-cost gold producer. As a result, Kinross 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.
Barrick Gold, Randgold Resources, Newmont Mining, Freeport McMoran and Goldcorp all make the short list for stocks to consider in this commodity segment -- but which of them are best positioned to prosper?
There are a number of reasons that attract investors towards large-cap companies such as Goldcorp Inc (TSX:G), with a market cap of CA$15.17B. Market participants who are conscious of riskRead More...
In April, the market’s unrest had a significant effect on precious metals and miners, leading to increased prices. The US dollar has strengthened recently, which had a negative impact on precious metals and mining stocks. The settling of the market unrest could have also caused a withdrawal of haven bids.
Kinross Gold (KGC) produced 654,000 gold equivalent ounces in 1Q18, a 2.7% fall YoY (year-over-year). KGC’s 1Q18 production fell YoY mainly for the following reasons: the completion of mining activities at Kettle River–Buckhorn during 2Q17 lower production at Kupol due to grade declines fewer ounces recovered from heap leach pads at Maricunga lower production at Fort Knox due to grade declines
Kinross Gold (KGC) released its 1Q18 results after the market closed on May 8. The company reported EPS (earnings per share) of $0.10, which was double the consensus estimate of $0.05. Its revenue of $897 million also came in above the market’s expectation of $833 million.
IAMGOLD (IAG) reported significant progress at its operations in its Essakane mine. This mine achieved record production of 109,000 ounces for 1Q18 after the delivery of record annual production of 389,000 ounces in 2017.
Can Goldcorp Continue Its Outperformance after a Weak 1Q18? After Newmont Mining’s (NEM) multiple of 8.7x, Goldcorp (GG) has the highest EV-to-forward-EBITDA multiple of 7.4x among its senior gold miner peers (GDX). Its production growth has remained muted for the last two years, and its costs have trended higher.
Can Goldcorp Continue Its Outperformance after a Weak 1Q18? At the end of 1Q18, Goldcorp’s net debt and adjusted net debt totaled $2.3 billion and $2.1 billion, which is almost the same as at the end of 2017. At the end of 1Q18, Goldcorp had $3.1 billion in liquidity, excluding $186.0 million in cash and cash equivalents held at its associates.
Could Newmont Mining Outshine Peers in 2018? Newmont Mining (NEM) has a forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of 8.7x, the highest among senior gold miners. NEM is trading at a 16.7% premium to its trailing-five-year average multiple and a 43.5% premium to senior gold miners’ (GDX) average. Senior miners Kinross Gold (KGC), Barrick Gold (ABX), and Goldcorp (GG) are trading at forward multiples of 4.6x, 5.9x, and 7.6x, respectively.
Can Goldcorp Continue Its Outperformance after a Weak 1Q18? Goldcorp (GG) achieved AISC (all-in sustaining costs) of $810.00 per ounce in 1Q18, which was 1.3% higher YoY (year-over-year) and 6.9% lower sequentially. In line with its expectations for production, the company expects its AISC to remain at the higher end of the guidance range for 2Q18 as well, which should decrease to come in at the lower end of the range in 2H18.
Could Newmont Mining Outshine Peers in 2018? FCF (free cash flow) enables miners (GDX)(RING) to optimize their financial leverage, invest in projects supporting long-term value, and provide shareholder returns. In this context, we’ll look at Newmont Mining’s (NEM) FCF generation in 2018 and its future capability to generate cash.