Thu, Oct. 29, 9:57 AM
- Goldcorp (GG -2.8%) opens lower after reporting a surprise Q3 loss even as revenue rose to $1.3B on increased gold production.
- However, GG maintains its production and cost guidance, and says it generated $168M of free cash flow in Q3 despite low gold prices.
- GG sees FY 2015 production at the high end of a range of 3.3M-3.6M oz. of gold, all-in sustaining costs of $850-$900/oz. and capital spending of $1.2B-$1.4B.
- GG says its Q3 gold production rose to a record 922.2K oz. from 651.7K as the average realized price fell to $1,114/oz. from $1,266/oz.; all-in sustaining costs were $848/oz. vs. $1,066/oz. a year earlier.
- Q3 production from the new Eleonore mine in Quebec reached a lower than expected 86.7K oz. as it struggles to ramp up, but delivered solid results from its Penasquito, Cerro Negro and Musselwhite operations.
Thu, Oct. 29, 8:03 AM
Wed, Oct. 28, 5:30 PM
- ABC, ABMD, AET, ALKS, ALLE, ALLT, ALLY, ALU, ALXN, AMT, APD, AVT, AVY, AWI, BANC, BBW, BC, BG, BLL, BWA, BWEN, BXLT, CCE, CHTR, CLF, CME, CMS, COP, CRI, CRR, CSH, CVE, CVI, CVRR, DBD, DFT, DIN, DLPH, EME, EPD, EXAS, EXLS, FCN, FIG, FMS, GCI, GG, GLOP, GLPI, GNC, GOV, GT, GTLS, GTXI, HAR, HEES, HST, HTWR, I, IDA, IMS, INGR, IQNT, IRDM, IVZ, JAH, JCI, KEM, KERX, LDOS, LKQ, LLL, LPLA, MA, MCK, MD, MDP, MDXG, MGM, MMYT, MO, MPC, MPLX, MSCI, MTH, MTRN, MWW, NEO, NICE, NOK, NTCT, NVO, NYT, OAK, ODFL, OFC, OSK, PAG, PBI, PES, PF, PNK, POT, PPL, PX, RDS.A, RFP, RGS, RTIX, RYAM, SABR, SAN, SC, SCG, SHOO, SHW, SMP, SNE, SNMX, STM, TDY, TEVA, TFX, THRM, TPX, TWC, UAN, UBSI, UPL, VA, VICL, WRLD, WST, WWE, XEL, XYL, ZBH
Thu, Jul. 30, 9:59 AM
- Goldcorp (GG -2.1%) opens lower after saying it will cut its dividend by 60% even though it has a strong balance sheet compared to many of its peers, while reporting slightly better than expected Q2 earnings as well as improved production and cost forecasts.
- GG says its move to cut the cut the monthly payout to US$0.02/share from $0.05 will save nearly $300M/year.
- Q2 gold sales totaled 903K oz. on production of 908K oz., vs. sales of 639.5K oz. on production of 648.7K oz. in the year-ago quarter; the quarterly record was driven by higher grades at Penasquito in Mexico and an ongoing ramp-up at Cerro Negro in Argentina, but the average realized price dropped to $1,189/oz. from $1,296/oz.
- Q2 all-in sustaining costs were $846/oz. of gold compared to $852/oz. in the year-ago quarter.
- GG says it sees 2015 production at the high end of its forecast of 3.3M-3.6M oz., with all-in sustaining costs at $850-$900/oz., down from an earlier estimate of $875-$950/oz.
- In addition to the dividend cut, GG has taken a couple of other measures in recent weeks to improve its liquidity: It sold its take in Tahoe Resources for nearly $1B, and expanded a credit facility by $1B.
Thu, Jul. 30, 8:02 AM
Wed, Jul. 29, 5:30 PM
- AAWW, AB, ACI, ACIW, ACOR, ACRE, ADP, ALKS, ALLE, ALU, ALXN, AMRC, APD, AVP, AWI, AZN, BC, BCO, BG, BLL, BUD, BWA, BWEN, CAH, CBB, CBM, CBR, CCE, CCJ, CEVA, CI, CL, CME, COP, COT, CPN, CRL, CRR, CRS, CSH, CVE, CVI, CVRR, DBD, DCIX, DFT, DLPH, EDR, EME, ENTG, EPD, ERJ, ESI, EXLS, FCAU, FCN, FIG, FMS, GG, GHM, GLOP, GLPI, GNC, GOV, GTLS, GVA, HEES, HOT, HP, HST, I, IART, IDA, IDCC, IDXX, INGR, IRDM, IRM, IT, ITC, IVZ, KMT, LBY, LINE, LKQ, LLL, MD, MDLZ, MDP, MDXG, MMYT, MOBL, MPC, MPLX, MSCI, MTRN, MWW, NAVB, NICE, NMM, NNN, NOK, NTCT, ODFL, OSK, OXY, PBI, PCRX, PES, PF, PG, PNK, PNW, POT, PRFT, PWE, RDS.A, RFP, RTIX, RYAM, RYL, SC, SCG, SEE, SHOO, SHOP, SMP, SNE, SNMX, SSYS, SUI, SWK, TASR, TDY, TE, TEX, TFX, TKR, TMUS, TWC, TWI, UAN, UFS, UPL, VA, VG, VICL, VLO, VLY, WST, WWE, XEL, XRAY, XYL, YNDX, ZBH
Thu, Apr. 30, 12:42 PM
- Goldcorp (GG -6.8%) sinks to lows of the day after Q1 earnings fell far short of analyst expectations, as lower gold prices and higher cash costs outweighed increased gold production.
- GG says its Q1 average realized gold price fell to $1,217/oz. from $1,297 a year earlier; cash costs also were higher, with all-in sustaining costs rising 5% to $885/oz.
- Q1 gold production rose to 724.8K oz. from 679.9K oz. in the year-ago quarter, while silver production fell to 8.5M oz. from 9.6M.
- For the full year, GG reaffirms its guidance for production of 3.3M-3.6M oz., driven primarily by new contributions from Cerro Negro and Éléonore, at costs of $875-$950/oz.; the miner also backed guidance for capital spending of $1.2B-$1.4B for the year.
- However, the company raises its tax guidance, now expecting an annual effective tax rate of 45% in 2015 on adjusted net earnings, with a 39% effective tax rate for each of the year's final three quarters.
Thu, Apr. 30, 8:07 AM
Wed, Apr. 29, 5:30 PM
- AAWW, AB, ABC, ACIW, ACOR, ADP, AIT, ALKS, ALLE, AMT, ANR, APD, ARG, ARW, AVP, AWI, BCE, BDC, BG, BKCC, BLL, BWA, BZH, CAH, CCE, CDK, CELG, CI, CL, CME, COMM, COP, CRR, CRS, CSH, CTCM, CVI, CVRR, CWEI, CY, DBD, DIN, DLPH, EME, EPD, ERJ, EXLS, FCN, FIS, FMS, FSS, GEO, GG, GLOP, GNC, GNRC, GOV, GTI, GTLS, HAR, HEES, HST, HUN, I, IDA, IMAX, INCY, INGR, IRDM, ITC, ITG, IVZ, LBY, LKQ, LLL, LPLA, MD, MGLN, MINI, MLM, MMC, MOS, MPC, MPLX, MSCI, MTRN, MVIS, NBIX, NI, NOK, NTCT, NVO, NYT, OAK, ODFL, OMG, PBI, PCRX, PES, PF, POT, PSX, PSXP, PWE, PWR, RDS.A, RDWR, RGLD, RGS, ROK, RYL, SCG, SEE, SHPG, SMP, SNAK, SNE, SNMX, STM, STRZA, TASR, TDY, TEVA, TFX, THRM, TKR, TWC, TWI, UAN, UFS, UPL, VA, VAC, VGR, VIAB, VLY, VNTV, WRLD, WST, WWE, XEL, XOM, XYL, ZMH
Thu, Feb. 19, 10:26 AM
- Goldcorp (GG -3.2%) missed Q4 earnings and revenue expectations, as lower prices and higher costs offset a big jump in production.
- GG's unadjusted $2.4B loss in Q4 was mostly attributable to a $2.3B writedown on its Cerro Negro gold mine in Argentina, which achieved commercial production just after the end of Q4; GG previously had warned it could take a charge of up to $2.7B on the project.
- Q4 gold production totaled a record 890.9K oz., up from 768.9K oz. in the year-ago period, but all-in sustaining costs were much higher at $1,035/oz. from $810/oz. a year earlier.
- GG forecasts 2015 production to rise ~20% Y/Y to 3.3M-3.6M oz. and all-in sustaining costs of $875-$950/oz.; plans capital spending for the year at $1.2B-$1.4B.
- GG expects major contributions from its new operations at Cerro Negro, Eleonore and Cochenour (still in development); Eleonore reached production in October but produced only 18.3K oz. due to issues with a tailings filter press system that the company says have been resolved.
- Also announced proven and probable mineral reserves of 49.6M oz. of gold and 789M oz. of silver.
Thu, Feb. 19, 8:03 AM
Wed, Feb. 18, 5:30 PM| Wed, Feb. 18, 5:30 PM | 7 Comments
Oct. 30, 2014, 9:17 AM
- Goldcorp (NYSE:GG) -1.7% premarket after reporting Q3 earnings and revenues that fell well short of analyst estimates as costs rose.
- Q3 gold production rose 2% Y/Y to 651.7K oz., but average all-in sustaining cost was $1,066/oz., compared with $995/oz. a year ago and much higher than analysts expected.
- GG says it reduced the carrying value of a low-grade ore stockpile at its Penasquito mine in Mexico, which raised average costs by $64/oz. and negatively affected adjusted earnings by $0.04/share.
- Expects FY 2014 gold output will be at the low end of its forecast range of 2.95M-3.1M oz., citing pit wall instability at El Sauzal and the suspension of activities at Los Filos in Q2; expects all-in sustaining costs at the low end of its guidance range of $950-$1,000/oz.
- Full-year capital spending guidance remains unchanged at $2.3B-$2.4B.
Oct. 30, 2014, 8:03 AM
Oct. 29, 2014, 5:30 PM
- ABC, ABMD, ACIW, ACOR, ALLE, ALU, AMAG, AMT, ANR, APD, APO, ATK, AUDC, AVP, BCO, BG, BGCP, BLL, BWA, CAH, CARB, CBM, CEVA, CI, CME, CNSL, COP, COR, CRCM, CRNT, CRR, CVI, CVRR, DBD, DFT, DHX, DST, EPD, EXLS, FCH, FCN, FIG, FIS, GBX, GEL, GG, GLOP, GNC, GOV, GTI, GTLS, HAR, HEES, HGG, HST, I, IDA, IDCC, INCY, INGR, IQNT, IRDM, IRM, ITC, IVZ, JCI, K, KCG, KEM, KMT, LAD, LECO, LKQ, LLL, LPLA, LRN, MA, MD, MDC, MDXG, MGM, MMYT, MO, MOD, MOS, MPC, MPLX, MPW, MSCI, MZOR, NEO, NGD, NI, NILE, NOV, NVO, NYT, O, OAK, OCN, ODFL, OXF, PBI, PCRX, PEG, Q, RDEN, RDN, RDS.A, RFP, RGLD, RTIX, SCG, SHOO, SMP, SNAK, SPAR, SSE, STRA, STRZA, SUI, TASR, TEVA, THRM, TRI, TWC, UAN, UPL, USAC, VICL, VNTV, WLT, WST, WWE, XEL
Jul. 31, 2014, 10:58 AM
- Goldcorp (GG +0.4%) eases higher after beating Q2 earnings and revenue estimates, as it continues to make progress in cutting costs.
- GG says all-in sustaining costs were just $852/oz., the lowest among the senior gold miners in the quarter, from $1,227/oz. in the year-ago period; the giant Penasquito mine in Mexico performed especially well, with all-in sustaining costs of $362/oz. vs. $1,484 a year earlier.
- Q2 gold production rose to 648.7K oz. from 646K a year earlier, even though the company sold its Marigold mine, and a dispute with local landowners halted production at the Los Filos mine in Mexico for 43 days in the quarter.
- Due to the better than expected cost performance in H1, GG now expects to come in at the low end of its 2014 all-in sustaining cost guidance of $950-$1,000/oz.
- Maintains full-year production guidance of 2.95M-3.1M oz.
Other News & PR