Goldcorp Inc. (GG) - NYSE
  • Fri, Jun. 24, 9:11 AM
    | Fri, Jun. 24, 9:11 AM | 18 Comments
  • Fri, Jun. 24, 8:48 AM
    • While stock futures remain under tremendous pressure following the Brexit vote, gold miner shares are soaring in premarket action, as the added uncertainty in the global economy sparks a surge in gold prices.
    • The Gold Miners ETF (NYSEARCA:GDX) +9.5% premarket, putting it on course to open at the highest level since July 2014; among GDX's components, Newmont Mining +7.7% toward a three-year high even though NEM derived 64.1% of its revenue over the last 12 months from the U.K., according to FactSet.
    • Among other GDX members, Goldcorp (NYSE:GG+7.5%, Barrick Gold (NYSE:ABX+9.6% and Yamana Gold (NYSE:AUY) +7.2%.
    • Also premarket: KGC +8.9%, GOLD +11.6%, GFI +11.8%, RGLD +10.6%, HMY +11%, SBGL +12.4%, AEM +8.4%, SLW +5.6%, PAAS +6.1%, EGO +8.3%, NG +8.9%, IAG +8.4%, FNV +5%.
    • ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
    | Fri, Jun. 24, 8:48 AM | 45 Comments
  • Mon, Jun. 20, 10:22 AM
    | Mon, Jun. 20, 10:22 AM | 46 Comments
  • Fri, Jun. 3, 3:58 PM
    | Fri, Jun. 3, 3:58 PM | 85 Comments
  • Thu, May 12, 2:47 PM
    • Goldcorp (GG -2.8%) agrees to acquire Kaminak Gold (OTCPK:KMKGF) for shares valued at ~C$520M (US$406M), marking the first move by the no. 3 bullion producer by market cap into the Canadian Arctic.
    • Kaminak’s Coffee project is one of the most promising undeveloped gold projects in Canada, currently with 3M oz. of indicated gold resources and another 2.2M oz. of inferred resources.
    • A feasibility study on Coffee estimated a construction cost of $317M, and the project It is expected to churn out more than 200K oz./year of gold in the first five years of production at all-in sustaining costs of ~US$550/oz.
    • The deal is GG CEO David Garofalo’s first significant deal since he took over the job at the end of February.
    • Now read Goldcorp may be this year's best gold stock
    | Thu, May 12, 2:47 PM
  • Wed, May 11, 11:37 AM
    • Goldman Sachs raises its 2017 gold price forecast to $1,150/oz. from $1,000 but says equity investors must remain selective, as the firm issues two stock upgrades and two downgrades among gold miners.
    • Newmont Mining (NEM +0.1%) is upgraded to Buy from Neutral with a $36 price target, hiked from $23.50, as Goldman says NEM as the gem of the group and believes organic growth from Merian is less than six months away.
    • The firm also upgrades Kinross Gold (KGC -9%) to Neutral from Sell with a $5.30 price target, but downgrades Franco-Nevada (FNV -2.7%) to Sell from Neutral with a $51 price target and Goldcorp (GG -1.8%) to Neutral from Buy with a $16 target.
    • Now read Paul Singer: Gold just getting started
    | Wed, May 11, 11:37 AM | 13 Comments
  • Thu, Apr. 28, 12:38 PM
    • Goldcorp (GG +6%) surges nearly 6% after reporting better than expected Q1 earnings on the back of higher production and lower costs.
    • GG says Q1 production rose to 783.7K oz. from 724.8K oz. in the year-ago period, and all-in sustaining costs fell to $836/oz. of gold from $885 a year ago.
    • GG says its two newest mines, Eleonore in Canada and Cerro Negro in Argentina, continued to ramp up in Q1 and that it will decide around mid-year whether to go ahead with two proposed projects, the Penasquito pyrite leach plant in Mexico and the Musselwhite materials handling venture in Ontario.
    • The miner reaffirms its 2016 production guidance of 2.8M-3.1M oz. despite an expected 15% Q/Q drop in Q2 production due to planned lower grade mining sequences in most mines and a 10-day mill shutdown for preventative maintenance at Peñasquito.
    • GG says free cashflow in Q1 was negative $101M, down from negative $321M a year ago, and that it expects to be "substantially free cash flow positive" for the full year.
    • GG also confirms it was the victim of a data breach including employee login IDs and passwords, salary and budget documents, and other sensitive information.
    | Thu, Apr. 28, 12:38 PM | 2 Comments
  • Wed, Apr. 27, 5:54 PM
    • Goldcorp (NYSE:GG): Q1 EPS of $0.10 beats by $0.06.
    • Revenue of $1.16B (-8.7% Y/Y) beats by $177.19M.
    • Shares +2% AH.
    • Press Release
    | Wed, Apr. 27, 5:54 PM | 1 Comment
  • Mon, Apr. 11, 12:39 PM
    • Gold miners are surging amid higher gold prices and a positive research note from RBC Capital, as the Market Vectors Gold Miners ETF (GDX +4.9%) powers higher with all 39 of its equity components rising.
    • Kinross Gold (KGC +6.9%) and AngloGold Ashanti (AU +4.9%) are upgraded to Outperform at RBC, citing valuation amid an increase in the firm's 2016 gold price outlook to $1,250/oz. from $1,150; the firm says KGC's production profile has improved with the 2015 acquisition of mines from Barrick Gold (ABX +5.6%) and the planned Tasiast expansion, while AU represents the most robust opportunity in its South African coverage, supported by a diverse, low cost asset portfolio.
    • Goldcorp (GG +3.8%) is sharply higher despite RBC's downgrade to Underperform, as the firm believes shares trade at a significant premium to Tier 1 peers and management needs to re-establish investor confidence in operations and strategy.
    • Also: NEM +5.7%, AEM +4.9%, FNV +2.9%, HMY +3.8%, EGO +7.9%, NG +7.6%, HL +4.4%, GFI +3.1%, GOLD +1.7%, SBGL +6%, SLW +4.2%.
    • Other ETFs: NUGT, GGN, DUST, SIL, GLDX, SGDM, ASA, SLVP, RING, PSAU, TGLDX, GDXX, GDXS
    • Now read Kinross Gold: Analyst estimates following the news on Tasiast mine expansion
    | Mon, Apr. 11, 12:39 PM | 46 Comments
  • Fri, Apr. 8, 11:57 AM
    • Barrick Gold (ABX +4.7%) is upgraded to Outperform from Neutral with a $17 price target, raised from $11, at Credit Suisse, which sees ABX as ideally positioned to capture gold leverage because of its capital allocation strategy.
    • Credit Suisse says ABX’s commitment to a 15% return on invested capital is differentiated in the gold sector and positions the miner to effectively capture the leverage through prudent deployment of cash flow that would accrue during a period of higher gold prices.
    • The firm also says ABX is on track to reduce its debt to a more manageable $8B target by year-end 2016 from $10B at year-end 2015 and $13B, and a higher gold price could accelerate the process.
    • The firm sees ABX's net asset value multiple at 2x vs. Goldcorp (GG +2.5%) at 1.75x and Newmont Mining (NEM +4.1%) at 1.80x to "reflect the preference of newer investors in the gold space for a turnaround story with demonstrated leverage to gold price."
    • Now read Barrick earnings: No surprises
    | Fri, Apr. 8, 11:57 AM | 7 Comments
  • Wed, Mar. 23, 3:49 PM
    • The YTD commodity price rally has been driven by incrementally positive data from China but the trend is unlikely to continue, as supply cuts are needed across most commodities, Deutsche Bank analyst Jorge Beristain says.
    • Following a strong Q1 in precious metals, Beristain downgrades Barrick Gold (ABX -8.3%), Hecla Mining (HL -7%) and Pan American Silver (PAAS -5.4%) to Hold from Buy and Coeur Mining (CDE -9.7%) to Sell from Hold.
    • The firm says it "favors select companies with relatively strong balance sheets and businesses that can defend margins through low cost, contractual sales or patented technologies," and recommends some gold exposure through Newmont Mining (NEM -8.3%) but advises avoiding Sell-rated CDE, Franco-Nevada (FNV -4.6%), Goldcorp (GG -7.1%) and Teck Resources (TCK -14.5%).
    | Wed, Mar. 23, 3:49 PM | 50 Comments
  • Fri, Feb. 26, 11:48 AM
    • Goldcorp (GG -9.2%) is downgraded to Sell from Hold with a $13.50 price target, cut from $15, at Deutsche Bank following the company's disappointing Q4 report.
    • Analyst Jorge Beristain cites production concerns after GG heavily reduced its 2016 production outlook, with guidance of 2.8M-3.1M oz., well below Deutsche Bank's estimated 3.5M oz. following 3.45M oz. in 2015.
    • "While the new production guidance is disappointing, to us it appears grounded in reality," TD Securities says in downgrading shares to Hold from Buy with a $15.50 price target, lowered from $19.
    | Fri, Feb. 26, 11:48 AM | 12 Comments
  • Fri, Feb. 26, 9:17 AM
    | Fri, Feb. 26, 9:17 AM | 7 Comments
  • Thu, Feb. 25, 6:46 PM
    • Goldcorp (NYSE:GG) -3.1% AH after posting a large Q4 loss and forecasting lower production this year.
    • GG also will reduce its annual dividend to $0.08/share effective April 1, and amend its payment schedule so that future dividends will be paid quarterly beginning in June; the company has paid a monthly dividend since 2003.
    • GG says it expects to produce 2.8M-3.1M oz. of gold in 2016 after producing 3.46M oz. in 2015; Q4 gold output rose to 909.4K oz. from 890.9K oz. in the year-ago quarter.
    • Forecasts all-in sustaining costs for 2016 of $850-$925/oz. after coming in at $852/oz. for 2015, excluding inventory impairments; Q4 AISC fell to $977/oz. from $1,035. a year ago.
    • GG removes the Cochenour project in Ontario from its production guidance for the next three years and moves the troubled project back to the "advanced exploration" stage.
    | Thu, Feb. 25, 6:46 PM | 21 Comments
  • Tue, Feb. 16, 3:49 PM
    | Tue, Feb. 16, 3:49 PM | 110 Comments
  • Tue, Feb. 16, 9:13 AM
    | Tue, Feb. 16, 9:13 AM | 1 Comment
Company Description
Goldcorp, Inc. engages in exploration of gold and other minerals. The company is engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, U.S., Mexico and Central and South America. Its projects include Cochenour, Éléonore, Dee JV/South Arturo,... More
Industry: Gold
Country: Canada