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Goldcorp Inc. (GG)

  • Mon, Jan. 12, 2:43 PM
    • Goldcorp (GG +3.6%) is the top senior gold producer to own in 2015, analysts at BofA Merrill say, noting the strong Q4 gold production forecast and its expectation of healthy operating guidance for 2015.
    • GG had reiterated its 2014 gold output guidance range of 2.95M oz. to 3.1M oz. in the prior quarter with a bias to the lower end, and all-in-sustaining-costs at the lower end of the $950-$1,000/oz. range; the firm also sees cash costs declining 10%-15% over the next several years.
    • The company now trades at 1.49x its net asset value, or a ~8% premium to its peer North American gold producers, and the firm feels that delivering on GG’s high-quality growth pipeline would lead to a re-rating for the shares to a 25%-30% premium vs. peers.
  • Wed, Jan. 7, 11:58 AM
    • Goldcorp (GG +0.5%) is likely to disappoint when it reports 2014 production results soon, according to RBC analyst Stephen Walker, whose Q4 projection of 920K oz. would leave the miner below its FY 2014 guidance.
    • Q4 production must exceed 970K oz. to hit the low end of its guidance of 2.95M oz., the analyst says while noting some reasons why output could fall short: a slower than expected ramp-up at the Cerro Negro mine, a lower than expected rebound in gold grades at Penasquito, and a slow transition to high-grade zones at Red Lake.
    • Nevertheless, Walker would buy shares on any weakness since he believes GG’s outlook for rising production and low costs over the next two years will remain intact; GG expects gold output to rise to as much as 4M oz. in 2016.
  • Tue, Jan. 6, 3:33 PM
  • Tue, Jan. 6, 8:24 AM
    • Goldcorp (NYSE:GG) declares $0.05/share monthly dividend, in line with previous.
    • Forward yield 3.18%
    • Payable Jan 23; for shareholders of record Jan 15; ex-div Jan 13.
    | Comment!
  • Dec. 30, 2014, 4:18 PM
    • With the dollar falling against the yen and pound and a minor flight to safety afoot - Treasurys are higher, stocks have closed moderately lower - COMEX gold is up 1.4% today to $1,197/oz., and COMEX silver is up 2.6% to $16.20/oz. The gains have provided a lift to the volatile/beaten-down shares of gold and silver miners.
    • Notable gold gainers: IAG +11.7%. ABX +3.6%. AUY +5.2%. NEM +3.6%. GG +4.6%. AU +4.2%. SBGL +4.9%. KGC +4.1%. AGI +5%. AEM +5.1%.
    • Notable silver gainers: AG +7.6%. SVM +7.1%. SSRI +6.2%. SVM +6.4%. PAAS +3.9%. SVLC +5.2%. EXK +6.9%.
    • ETFs with 3%+ gains: NUGT +10.1%. GDXJ +5.1%. USLV +9.7%. UBG +5.4%. USV +3.8%. SIVR +3.4%. AGQ +6.3%. BAR +3.2%. DBS +3.2%.
    • The group rallied on Friday after the PBOC relaxed lending rules for banks, but sold off on Monday.
  • Dec. 26, 2014, 3:34 PM
  • Dec. 3, 2014, 4:45 PM
    • Goldcorp (NYSE:GG) says it will examine its future investment plans in Guatemala following the country's move to raise mining royalties to 10% from 1%.
    • GG, which operates the Marlin mine - Guatemala's largest - says it will need to take a closer look at its future investment in the country as a result of the new measures.
    • The Marlin mine is expected to produce up to 185K oz. of gold this year but is nearing the end of its life, so GG says the new measures would have a limited impact on its overall financials.
    • Tahoe Resources (NYSE:TAHO) also is seen as threatened by the mining royalty hike.
  • Dec. 1, 2014, 4:45 PM
    • Gold futures surged 3.6% to reclaim the $1,200 level for the first time since late October, sparked in part by the downgrade of Japan’s sovereign debt rating and a retreat in the dollar, as well as India easing its import restrictions and some short covering.
    • Gold had sold off initially amid news that Swiss voters rejected a referendum to force the Swiss National Bank to hold 20% of its reserves in gold, slumping to overnight lows near $1,140/oz. before rallying to settle at $1,218.
    • As a result, gold miners were among the strongest sectors, with the Market Vectors Gold Miners ETF (NYSEARCA:GDX) finishing 7.7% higher; investors also may have reacted to takeover speculation, as weekend reports said Paramount Gold (NYSEMKT:PZG) was is in talks to be acquired by Coeur Mining (NYSE:CDE).
    • Among the top precious metals miners: ABX +4.3%, AEM +6.9%, AU +9.1%, GG +8.2%, GFI +9.2%, SLW +7.2%, NEM +6.8%, AGI +7.7%, IAG +11.3%, AUY +7.4%, KGC +8.5%, NGD +13.7%, GOLD +6.4%, RGLD +7%.
  • Dec. 1, 2014, 12:14 PM
    • Goldcorp (NYSE:GG) declares $0.05/share monthly dividend, in line with previous.
    • Forward yield 2.88%
    • Payable Dec. 19; for shareholders of record Dec. 11; ex-div Dec. 9.
    | Comment!
  • Nov. 28, 2014, 1:21 PM
    • Already hit hard over the last two years by declining prices, gold and silver miners saw more pain today as commodity stocks in general got hammered thanks to OPEC's decision not to slash crude production.
    • Decliners: ABX -8%. GG -6.1%. AUY -9.8%. KGC -8.2%. GFI -9.9%. SLW -7%. NEM -5.8%. AGI -6.9%. PAAS -9%. AG -15.4%. SSRI -11.6%. CDE -11.4%. HL -8.8%. TAHO -7.8%.
    • Previous: Precious metals slide alongside oil; Swiss vote ahead
  • Nov. 25, 2014, 9:17 AM
    • Goldcorp (NYSE:GG) signs a resource development agreement with four First Nation communities in the area of its Porcupine Gold Mines operation in Ontario and establishes a framework for continued consultation on existing and future operations.
    • Under the agreement, GG recognizes and respects Aboriginal rights and interests, and the four First Nation communities recognize and support GG’s rights and interests in the operation and future development of the mine.
  • Nov. 18, 2014, 3:59 PM
    • Gold prices jumped 1.2% to settle just shy of $1,200/oz. as the dollar eased against major currencies amid tensions in eastern Europe and the Middle East, and some observers are starting to ask if gold mining and production stocks (GDX +4.8%) have finally found a bottom.
    • 24/7's Chris Lange thinks gold giants may have hit their lows on Nov. 5, followed by an impressive recovery since that date with gold fundamentals apparently not changing drastically.
    • Major precious metals miners are strong across the board: ABX +6.5%, AEM +4.4%, AU +6.2%, GG +3.7%, GFI +7.6%, SLW +3.6%, NEM +3.4%, AGI +4.9%, IAG +6.6%, AUY +6.8%, KGC +9.2%, NGD +2.8%, GOLD +1.9%, RGLD +3.7%.
  • 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 (
    • 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. 10, 2014, 6:46 PM
    • With gold trading down as low as $1,131/oz., precious metals miners were hit hard again today, with the Market Vectors Gold Miners ETF (NYSEARCA:GDX) tumbling 6.3% and now 17% lower YTD.
    • Barrick Gold (NYSE:ABX), which fell 6.7% today, was the subject of negative comments from Deutsche Bank, which said, “Management’s target net debt of $7B, conveyed on its 3Q14 earnings conference call, is a tall order without a combination of a higher gold price and asset sales.”
    • Mining companies at least can look forward to the modest consolation prize of weaker local currencies and falling oil prices that will help trim their costs; for example, Agnico Eagle Mines (NYSE:AEM) estimates local currency declines could reduce its U.S. dollar-denominated cash production costs by 5%-6%.
    • Also today: AU -9.8%, GG -4.8%, GFI -4.6%, SLW -4.7%, NEM -5.9%, AGI -6.8%, IAG -6.1%, AUY -6.6%, KGC -6.4%, NGD -7.2%, GOLD -5.1%, RGLD -5.3%.
  • Nov. 10, 2014, 11:49 AM
    • Goldcorp(NYSE:GG) declares $0.05/share monthly dividend, in line with previous.
    • Forward yield 3.14%
    • Payable Nov. 28; for shareholders of record Nov. 20; ex-div Nov. 18.
    | Comment!
  • Nov. 7, 2014, 2:49 PM
    • Goldcorp (GG +5.5%) says it has withdrawn the environmental impact study for its El Morro gold and copper mine in Chile after the country's Supreme Court halted development last month.
    • GG says a project team has begun new studies to determine an optimal development plan for the $3.9B project that meets the company's investment return criteria.
    • As of Dec. 31, El Morro on a 70% basis contains proven and probable gold reserves of 6.73M oz. and proven and probable copper reserves of 4.89B lbs.
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Company Description
Goldcorp Inc is a gold producer. The Company is engaged in the operation, exploration, development, and acquisition of precious metal properties in Canada, the United States, Mexico, and Central and South America.
Industry: Gold
Country: Canada