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Goldcorp Inc. (GG)

- NYSE
  • Tue, Jan. 27, 3:10 PM
    • Gold miner (NYSEARCA:GDX) earnings reports are on the way, and Barclays analysts foresee Q4 earnings to come in lower across the board with margins under pressure as metals prices fall; for gold, they see producers’ margins falling ~12% Q/Q.
    • Barclays believes lower gold prices also will mean writedowns of assets for many companies, while mining depletion will combine with limited exploration budgets to bring down reserves.
    • Most senior and mid-tier gold producers will not see Y/Y production growth in 2015, the firm says; Goldcorp (GG +2.9%), Agnico Eagle Mines (AEM +4.6%), Yamana Gold (AUY +3.2%) and New Gold (NGD +4.2%) should enjoy production growth, while royalty companies Royal Gold (RGLD +1.8%) and Franco-Nevada (FNV +4.6%) should have revenue growth despite lower commodity pricing.
    | 7 Comments
  • Thu, Jan. 15, 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
    | 26 Comments
  • 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.
    | 7 Comments
  • Tue, Jan. 6, 3:33 PM
    | 34 Comments
  • 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.
    | 16 Comments
  • Dec. 26, 2014, 3:34 PM
    | 28 Comments
  • 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
    | 12 Comments
  • 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%.
    • Other ETFs: GDXJ, NUGT, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PSAU
    | 36 Comments
  • 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.
    | 26 Comments
  • 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.
    | 2 Comments
  • Oct. 31, 2014, 11:35 AM
    • Precious metals miners are slammed for a third straight session as gold prices plunged to multiyear lows.
    • Japan’s surprise stimulus move is supporting the U.S. dollar and driving the ICE U.S. Dollar index to a four-year high, making gold more expensive to overseas buyers; while the prospect for more monetary stimulus usually increases the lure of gold, the threat of global deflation has withered gold’s appeal as a hedge against rising prices, Barron's Chris Dieterich explains.
    • Nearly everyone in the sector is hitting 52-week lows (again): ABX -4.5%, NEM -7.7%, GG -0.5%, SLW -3.6%, AGI -5.8%, AEM -4.1%, AUY -10.6%, IAG -4.6%, KGC -16.2%, NGD -6.1%, AU -2%, GOLD -1.6%.
    • Also: GFI -7.4%, RGLD -3.8%.
    • ETFs: GDX, GDXJ, NUGT, DUST, SIL, JNUG, GLDX, JDST, SLVP, RING, SGDM, PSAU
    | 41 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.
    | 4 Comments
  • Oct. 9, 2014, 3:58 PM
    | 57 Comments
  • Oct. 9, 2014, 10:35 AM
    • Goldcorp (GG -2.4%) is looking to cut costs on its planned and already-delayed $3.9B El Morro copper and gold project in Chile, and that may mean new permits are needed and further hold-ups, CEO Chuck Jeannes says.
    • The project has been caught up in a legal fight, and this week Chile's Supreme Court ruled El Morro's environmental permit should be suspended until the company holds new talks with local indigenous groups.
    • While progress on the project has been bogged down, the CEO says GG has been reviewing engineering plans to find a better way to build the mine and is continuing those studies.
    | 7 Comments
  • Oct. 6, 2014, 2:45 PM
    • Gold prices bounce off 15-month lows to reclaim $1,200/oz. as the dollar rally pauses, helping strengthen shares of precious metals miners: AU +4.4%, GFI +3%, IAG +1.9%, BTG +3%, GG +2.2%, NGD +1.5%, KGC +1.6%, AGI +1.6%, RGLD +1%, SLW +2.1%.
    • Sterne Agee analysts Michael Dudas and Satyadeep Jain foresee gold and silver prices trending higher, with gold averaging $1,400/oz. in 2015 and $1,450 in 2016 and silver averaging $19 next year and $21 in 2016, as “global demand remains firm, liquidity remains ample and the dollar appears overbought.”
    • With investor sentiment still skeptical, Sterne thinks any supportive macro news flow could provide fuel for a rally; the firm rate Newmont Mining (NEM +1.5%), Agnico-Eagle Mines (AEM +2.4%), Coeur Mining (CDE +1.3%) and Gold Resource (GORO +0.2%) as Buys, with Barrick Gold (ABX +0.5%), Hecla Mining (HL +4.3%) and Pan American Silver (PAAS +1.5%) rated Neutral.
    • ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, OUNZ, DGLD, AGOL, DBP, TBAR, USV, UBG, JJP, GLDE, BAR, GYEN, GEUR, RGRP, BARS, GGBP, BLNG
    | 19 Comments
  • Sep. 8, 2014, 11:49 AM
    • Miners have reached "peak gold," in which gold production has hit its high as easy-to-mine gold deposits become harder to find, Goldcorp (GG -2.4%) CEO Chuck Jeannes tells WSJ.
    • Jeannes says a falloff in supply will support the gold price but make mining it even harder and lead to further consolidation in the industry; yet investors are wrong to believe GG is poised to make acquisitions of its own, he says.
    • Gold production has been on the upswing since the late 1970s, hitting 2,270 metric tons last year, but Jeannes believes that without a dramatic technological advance gold production is unlikely to increase during his career.
    • ETFs: GDX, NUGT, DUST, GLDX, RING, GGGG, SGDM, PSAU
    | 9 Comments
GG vs. ETF Alternatives
Company Description
Goldcorp Inc is a gold producer. The Company operates, explores, develops, and acquires precious metal properties in Canada, the United States, Mexico, and Central and South America.
Industry: Gold
Country: Canada