Another day, another gold miner gets hammered: Yamana Gold's (AUY -7.7%) Q1 results disappoint...


Another day, another gold miner gets hammered: Yamana Gold's (AUY -7.7%) Q1 results disappoint despite a pledge to cut costs by $100/oz. by midyear and $150/oz. by year-end. AUY will be tested not just by falling gold prices but also by copper prices, Cowen’s Adam Graf says, noting AUY's Q1 cash costs jumped 31% Y/Y partly on lower copper credits generated from lower copper sales volumes.

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Comments (3)
  • smolloy1010
    , contributor
    Comments (20) | Send Message
     
    AUY is a solid nimble company that is MAKING money. Long AUY
    1 May 2013, 01:28 PM Reply Like
  • Optionable
    , contributor
    Comments (35) | Send Message
     
    Why can't mining companies learn to play the earnings expectations game like every other sector?? Over and over they miss...usually not by much, but enough to trash their stock.

     

    It seems simple to me. Underpromise, and then surprise to the upside - and everyone is happy.
    1 May 2013, 02:38 PM Reply Like
  • Jason Burack
    , contributor
    Comments (2147) | Send Message
     
    Yamana Gold is a very solid gold mining company, but in general, mining companies are horribly run compared to other sectors. There are not many good CEOs in this industry. Yamana will survive this washout.
    1 May 2013, 04:29 PM Reply Like
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