|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||36.96 - 37.63|
|52 Week Range||31.42 - 42.04|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 23, 2018 - Apr 27, 2018|
|Forward Dividend & Yield||0.56 (1.50%)|
|1y Target Est||43.81|
In this article, we’ll discuss the market sentiments for these companies. Among the senior gold miners under review (GDX) (GDXJ), analysts are most optimistic about Goldcorp (GG). It has the most “buy” ratings at 65%, with only 5% “sell” ratings.
One way to assess a company’s liquidity is to calculate its current ratio. Newmont Mining (NEM) and Kinross Gold (KGC) are doing the best among senior miners on this front with ratios of 3.6x and 3.9x, respectively. Goldcorp (GG) and Yamana Gold (AUY), on the other hand, have the lowest current ratios of 0.9x and 1.0x, respectively.
As metals prices started weakening, investors shifted their focus from high-leverage miners (GDX) (GDXJ) to low-leverage miners with sound growth plans, leading miners to trim their balance sheets. After reducing its debt by $1.3 billion in 2016, Newmont Mining (NEM) reduced its net debt by ~$1.0 billion in 2017. It ended 4Q17 with net debt of $0.8 billion.
Gold miners (GDX) (GDXJ) have to compensate for every ounce they take out of the ground. While mines have finite lives, the companies operating them don’t, so it’s important to look at miners’ reserves and resource estimates and the assumptions used to calculate them. Goldcorp’s (GG) proven and probable gold reserves as of June 30, 2017, were 53.5 million ounces, an improvement of 26.5% YoY (year-over-year).
After making discretionary cuts on exploration and capital expenditure for many years, gold miners (GDX) (JNUG) have started to refocus on production growth. In the last three years, Newmont Mining (NEM) has built its Merian and Long Canyon mines on time and 20% below budget. The company also sounds confident about finishing its next project, Northwest Exodus, in 2018.
Goldcorp’s (GG) gold (GLD) (NUGT) production fell 15% to 646,000 ounces YoY (year-over-year) in 4Q17. Goldcorp has guided for production of 2.5 million ounces in 2018 with a variance of plus or minus 5%, which is in line with its previous 2018 guidance as well as its guidance for 2017. In 4Q17, Barrick Gold (ABX) produced ~1.3 million ounces of gold, a fall of 11.8% YoY.
Gold stocks are moving in opposite directions today, following moves by RBC Capital Markets. Analyst Stephen Walker upgraded Barrick Gold (ABX) to Outperform from Sector Perform, while downgrading Newmont ...
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Financial markets across the globe received another jolt from the US president even before they could completely recover from the rise in volatility that was witnessed at the beginning of February. President Donald Trump seems to be working toward his promise to put America first, announcing that he will introduce tariffs of 25% and 10% on imports of steel and aluminum, respectively. President Trump said that US steel (SLX) and aluminum industry players such as Alcoa (AA) and Newmont Mining (NEM) need support to return to their past glory.
Newmont (NEM) is likely to benefit from its efforts to reduce debt and continued investments in growth projects in a rising production cost environment.
NEW YORK, March 06, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of ...