First Majestic: A Case Of Cost Cutting Into Your Own Flesh
Itinerant • 13 Comments
Itinerant • 13 Comments
First Majestic's Fiscal Conservatism Pays Off
Fri, Aug. 12, 5:37 PM
Wed, Jul. 13, 2:00 PM
Wed, Jun. 8, 9:16 AM
Fri, Jun. 3, 3:58 PM
- Gold miner stocks are skyrocketing, with the sector enjoying its best day in nearly seven years, as the disappointing May jobs report helped spark a strong rally in the yellow metal.
- The VanEck Vectors Gold Miners ETF (GDX +11.1%) surged more than 10% on heavy volume, and all 24 of the ETF’s U.S. equity components traded higher, with 10 of them enjoying double-digit percentage gains.
- In today's trade: ABX +12.9%, NEM +9.5%, GG +7.7%, AEM +11.1%, OTCPK:NCMGY +10.7%, KGC +15.4%, SLW +9%, FNV +9.1%, RGLD +9.4%, EGO +9.8%, GFI +13.7%, SBGL +8.2%, HMY +13%, IAG +16.4%, AU +14.4%, GOLD +8.6%, AUY +13.9%, NGD +9.6%, HL +12.1%, CDE +11.6%, TAHO +10.8%, NG +12.2%, AG +12.3%, PAAS +8.9%.
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, SIL, JNUG, GLDX, JDST, SGDM, ASA, SLVP, RING, PSAU, SGDJ, TGLDX, GDXX, GDJJ, GDXS, GDJS
Fri, Jun. 3, 9:16 AM| Fri, Jun. 3, 9:16 AM | 26 Comments
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- Gainers: DDD +15%. AG +14%. FSM +13%. TRIP +12%. MUX +11%. AUY +11%. SBGL +11%. GFI +10%. AGI +10%. LC +10%. GG +10%. CDE +9%. EGO +9%. KGC +9%. HMY +9%. IAG +9%. EXPE +8%. ABX +8%. NEM +8%. SLW +8%. SSRI 8%. AU 7%. AEM 7%. HL 7%. NG 7%. CSCO 6%. SKX 5%.
- Losers: FLO -18%. INCY -15%. SFL -13%. MYL -13%. BTU -13%. ZNGA -13%. SNOW -11%. IFF -10%. ELMD -9%. AVP -8%. CS -7%. BCS -7%. SUNE -6%. CIG -5%. TWTR -6%.
Dec. 28, 2015, 12:57 PM
- Much like oil/gas firms (hurt by fresh oil price declines), coal, gold, and silver miners are having a rough day. End-of-year tax and fund selling could be playing a role. Comex gold is down a moderate 0.6%, and Comex silver down 3.2%. The S&P is down 0.5%.
- Notable coal decliners: Peabody Energy (BTU -13.6%), Westmoreland Coal (WLB -6.4%), CONSOL Energy (CNX -9%), and Cloud Peak Energy (CLD -4%).
- Notable gold decliners: Goldcorp (GG -3.5%), Barrick Gold (ABX -3.1%), Newmont Mining (NEM -4%), Kinross Gold (KGC -3.8%), Gold Fields (GFI -6.7%), AngloGold Ashanti (AU -5%), Harmony Gold (HMY -6.5%), and Sibanye Gold (SBGL -4.2%).
- Notable silver decliners: Silver Wheaton (SLW -3.8%), Pan American Silver (PAAS -3.6%), First Majestic Silver (AG -6.9%), Tahoe Resources (TAHO -4.9%), and Coeur Mining (CDE -5.8%).
- ETFs: GLD, SLV, IAU, AGQ, PSLV, PHYS, USLV, SIVR, SGOL, ZSL, UGL, DGP, GTU, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, DGZ, DGLD, USV, GEUR, UBG, GYEN, TONS, QGLDX
Dec. 18, 2015, 5:41 PM
Oct. 14, 2015, 9:12 AM
- First Majestic Silver (NYSE:AG) -3.3% premarket after reporting Q3 total production at its five operating silver mines in Mexico for reached ~3.55M equiv. oz. of silver, relatively unchanged compared to last year.
- AG says it plans additional layoffs and mine plan revisions, citing continued weak metal prices, to ensure that free cash flow is generated across the entire business.
- AG also says full operations have begun at the Santa Elena mine in Mexico due to the acquisition of SilverCrest Mines; Santa Elena is the company's sixth operating mine and is expected to increase annual silver equivalent production by more than 25%.
Aug. 28, 2015, 5:40 PM
Jul. 27, 2015, 2:59 PM
- Canada’s silver mining sector gets some much-needed consolidation with First Majestic Silver's (AG -12.5%) friendly takeover of SilverCrest Mines (SVLC +16.6%), and the deal is praised by Desjardins Capital analyst Michael Parkin, who calculates that SVLC’s Santa Elena mine in Mexico generated impressive free cash flow of US$2.99/oz. of silver equiv. production in Q1.
- Parkin notes the deal boosts AG’s production by ~26% and improves its balance sheet by adding $30M of cash, and he thinks Santa Elena may beat its guidance this year; the mine is expected to produce 4M-4.4M silver equiv. oz., but Q1 production reached a record 1.35M silver equiv. oz.
- The analyst sees potential for a higher bid on the deal, considering Santa Elena's impressive production and SVLC is generating free cash flow and has a relatively solid balance sheet.
First Majestic Silver Corp. engages in the business of the production, development, exploration and acquisition of mineral properties with a focus on silver. It owns five producing mines in Mexico: La Encantada Silver Mine in Coahuila State, La Parrilla Silver Mine in Durango State, San Martin... More
Sector: Basic Materials