Buy The AuRico Gold Spin-Off
SomaBull • 14 Comments
SomaBull • 14 Comments
AuRico Gold Is Overvalued
Ben Kramer-Miller • 11 Comments
Ben Kramer-Miller • 11 Comments
Apr. 10, 2015, 10:59 AM
- AuRico Gold (AUQ +2.7%) is upgraded to Buy from Hold with a $5 price target at Canaccord, expect its underperforming shares to recover over the next few quarters thanks to an expected strong performance at its flagship Young-Davidson mine.
- The firm says the YTD underperformance is partly explained by the reserve writedown and asset impairment charge recorded at El Chanate, but adds that the market may have overreacted in light of El Chanate's contribution to AUQ.
- At the same time, Canaccord downgrades Detour Gold (OTCPK:DRGDF) to Hold from Buy with a C$13.50 price target, down from C$15, citing lower assumed gold prices and recent outperformance by the shares, while adding that there could be upside to Detour's shares if gold prices were to rise significantly.
Mar. 11, 2015, 2:16 PM
- AuRico Gold (AUQ +6.3%) shoots higher after Raymond James upgrades shares to Strong Buy from Market Perform with a $4.50 price target, seeing the recent selloff as overdone and believing AUQ remains positioned to continue its execution momentum at the Young Davidson gold mine in Ontario.
- Young Davidson also offers a 20-year lifespan with mine-level all-in costs at ~$900/oz., attributes Raymond James says might attract potential suitors as the mine is viewed as a "trade-up in asset quality."
- The firm feels AUQ provides a compelling investment outlook with growing production and cash flow along with a balance sheet that could support the Young Davidson mine toward its 2016 design goal.
Mar. 6, 2015, 2:42 PM
- Precious metals miners are bludgeoned as April Comex gold tumbles 2.7% to $1,164.30/oz. for its lowest settlement of the year so far.
- The culprit was the upbeat February jobs report, which sparked fears that the improving economy will prompt the Fed to hike interest rates sooner rather than later.
- ABX -6%, GG -6.6%, NEM -7.9%, AU -6.1%, AUY -6.6%, KGC -7.8%, SLW -3.4%, GOLD -5.4%, EGO -5%, GFI -7.9%, HL -10.4%, RGLD -8.6%, FNV -3.2%, NG -4.3%, SBGL -6.4%, PAAS -4.3%,BTG -6.5%, IAG -6.2%, AUQ -5.6%, AGI -2.8%.
- Precious metals ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, GLTR, DGZ, DGLD, AGOL, DBP, WITE, TBAR, USV, UBG, JJP, BAR, GYEN, GEUR, BARS, RGRP, BLNG
- Precious metals mining ETFs: GDX, NUGT, DUST, SIL, GLDX, SLVP, RING, SGDM, PSAU, GDXX
Jan. 15, 2015, 5:39 PM
Jan. 15, 2015, 12:35 PM
- Gold, silver, platinum and palladium are spiking today on Switzerland's surprise move to abandon its currency floor, and shares of the miners are following suit: GDX +6.1%.
- "Gold is much stronger as the 'safety' of the Swiss Franc vanishes,” commented Dave Lutz of JonesTrading.
- Peter Boockvar believes that in "a world of currency battles with printing presses that are extraordinarily large... gold will be the last man standing... the gold bear market is over and will go substantially higher from here."
- Against a backdrop of concerns about global growth, deflation and renewed volatility, gold has been climbing since November as other growth-sensitive commodities such as oil and copper have sold off.
- Among precious metals miners: BTG +9.5%, GG +8.9%, KGC +8.7%, NEM +8.3%, AUY +8.1%, EGO +7.4%, AGI +7%, ABX +6.2%, NG +5.9%, AUQ +5.6%, FNV +5.5%, RGLD +5.4%, IAG +4.8%, GFI +4.2%, HL +4.2%, SLW +3.1%.
- Other ETFs: NUGT, GDXJ, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PLTM, PSAU
Jan. 14, 2015, 9:57 AM
- AuRico Gold (AUQ +1.5%) reports its 11th consecutive quarter of record gold production from its Young-Davidson mine as well as annual consolidated results that are in-line with guidance levels.
- Consolidated results show ~224K oz. of gold estimated to have been produced in 2014.
- AUQ says its year-end cash balance totaled ~$90M, and that Q4 net free cash flow from Young-Davidson was ~$9M.
- Also says it received C$20M from the recently restructured royalty arrangement with Crocodile Gold.
Dec. 18, 2014, 5:39 PM
Dec. 15, 2014, 11:23 AM
- AuRico Gold (AUQ +3.6%) says it discovered a new gold-copper porphyry at Kemess East near the Kemess mill facility.
- AUQ says the discovery demonstrates the significant potential of the Kemess land package, with some of the program's drill holes ending in mineralization.
- AUQ says it plans to have an initial resource estimate for Kemess East in early 2015, after an initial mineralogical assessment indicated it is similar to the Kemess Underground deposit.
Dec. 10, 2014, 5:39 PM
Dec. 9, 2014, 5:36 PM
Dec. 5, 2014, 5:40 PM
Dec. 4, 2014, 12:15 PM
- AuRico Gold (AUQ -3.5%) is downgraded to Underweight from Equal Weight at Morgan Stanley, which believes the impressive ramp-up of the Young-Davidson mine already has been priced in.
- The firm thinks the market is not reflecting the inherent risks remaining at Young-Davidson, which is still two years from its design underground mining rates of 8K tons/day, and sees the stock's premium is unjustified.
- New Gold (NGD -1.7%) provides investors with a stronger risk-reward profile at current levels, Stanley says.
Nov. 14, 2014, 10:58 AM
- The gold market will enter deficit by 2016 as producers cut capex, resulting in reduced supply in the medium- to long-term, Credit Suisse analyst Anita Soni writes, seeing 2014 as a likely plateau for supply (Briefing.com).
- Agnico Eagle Mines (AEM +2.6%) and Eldorado Gold (EGO +4.5%) are the firm's top picks among gold miners under coverage.
- Other Outperform rated gold companies are GG, KGC, AUY, AUQ, FNV, GSS and IAG; rated Neutral are ABX, NEM, NGD and AGI.
Nov. 6, 2014, 4:40 PM
- AuRico Gold (NYSE:AUQ): Q3 EPS of -$0.02 beats by $0.01.
- Revenue of $73.51M (+35.4% Y/Y) misses by $1.51M.
- Shares +2.33%.
Nov. 5, 2014, 11:38 AM
- Spot gold skids to its lowest since April 2010 at $1,137/oz., below production costs for seven of 19 mining companies tracked by Bloomberg, including Harmony Gold (HMY -1.8%) and Primero Mining (PPP -2%).
- Harmony Gold said in its Q3 earnings report that all-in sustaining costs were $1,245/oz., while Primero reported all-in sustaining costs of $1,228; the most recent data from DRDGold (DRD -6.3%), AuRico Gold (AUQ +0.6%), Golden Star Resources (GSS +0.1%) and Alamos Gold (AGI -0.5%) also show costs higher than current prices.
- Maison Placements Canada brokerage's John Ing says a "two-tier type of market" is developing, where one tier of companies having solid assets and lower costs and another group saddled with high-cost operations and stretched balance sheets.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PSAU
Nov. 3, 2014, 5:38 PM
AuRico Gold Inc is a gold producer with mines and projects in North America. The Company's projects include El Chanate, Young-Davidson and Kemess South in north-central British Columbia..
Sector: Basic Materials
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