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GG

Goldcorp Inc.

5/20/2013, 1:19 PM ET

Quote & Headlines Market Currents StockTalk

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Monday, May 20, 12:57 PM As precious metals prices turn around, share prices of gold (GDX +4.7%) and silver miners (SIL +3.1%) surge: ABX +5.9%, GG +4.5%, KGC +6.4%, NEM +4.7%, SLW +4%. Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases: AU -0.8%, GFI +1.5%, HMY -0.5%. Comment! [Commodities, On the Move]
Friday, May 17, 3:22 PM Gold miners (GDX -3.2%) take another beating as gold continues to lose its allure amid disclosures of reduced bets by hedge funds, a World Gold Council report showing gold demand at a three-year low, and a surging dollar. For the miners, it's an ugly world of lower production, higher costs and falling prices. At least nine miners hit 52-week lows: NEM -3%, GG -2.7%, AUY -4.8%, HMY -6.3%, AU -2.5%, BVN -1.1%, ANV -7.4%, NG -2.7%, GSS -5.8%. 18 Comments [Commodities, On the Move]
Friday, May 10, 12:23 PM The mini-recovery in gold and metals mining stocks is stopped as gold prices sink 3% today to ~$1,425/oz. after closing higher in each of the past two weeks. A breach of key chart levels is prompting heavy selling of gold futures, already under pressure from a stronger dollar and rising stock markets. Among big miners: ABX -3%, NEM -2.1%, GG -1.6%, KGC -3.8%, SLW -2.7%, FCX -1.8%. Comment! [Commodities, On the Move]
Thursday, May 9, 9:45 AM Barrick Gold (ABX -1.4%) says it reached a deal with the government of the Dominican Republic over the taxation of the Pueblo Viejo mine, which it owns with Goldcorp (GG -1%). ABX says the new deal will see an almost equal split of cash flow with the Dominican government from the mine between 2012-16. 2 Comments [Commodities]
Wednesday, May 8, 2:05 PM Today's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. 5 Comments [Commodities, On the Move]
Tuesday, May 7, 2:10 PM Some big moves in today’s options trading make it appear that investors are banking on another drop in the gold miners ETF (GDX -3%), already -36% YTD. Volume in GDX options is heaviest in the June $27 strike puts, where nearly 40K puts have traded vs. open interest of ~16K contracts. Big miners are broadly lower: HMY -5.5%, GFI -5.2%, AU -3.2%, ABX -3.1%, EGO -2.8%, NEM -2.2%, GG -2%. 3 Comments [Commodities, On the Move]
Monday, May 6, 1:24 PM Goldcorp (GG) declares $0.05/share monthly dividend, in line with previous. Forward yield 2.08%. For shareholders of record May 16. Payable May 24. Ex-div date May 14. (PR)
Comment! [Dividends]
Thursday, May 2, 12:28 PM Gold is up today but miners are mixed, as Goldcorp (GG -0.6%) and Randgold (GOLD +0.4%) miss estimates (I, II), and UBS downgrades Gold Fields (GFI -2.5%) to Neutral from Buy because it failed to identity any strong stock-specific catalysts. UBS also worries about the stability of GFI's dividend at current gold prices; if prices hold, the firm says it would need to cut earnings estimates by ~40%. 1 Comment [Commodities, Earnings, Quick Ideas, On the Move]
Thursday, May 2, 8:44 AM More on Goldcorp's (GG) Q1 results: Gold sales totaled 595.1K oz. on production of 614.6K oz. vs. sales of 545.7K oz. on production of 524.7K oz. in the year-ago quarter. Silver production was 5.6M oz. vs. 6.6M oz. a year ago. Operating costs were $1,135/oz. of gold on an all-in basis. Confirms 2013 guidance of 2.55M-2.8M oz. at cost of $1,000-$1,100/oz. on an all-in basis, and capex of $2.8B. 1 Comment [Commodities, Earnings]
Thursday, May 2, 8:03 AM Goldcorp (GG): Q1 EPS of $0.31 misses by $0.08. Revenue of $1.0B misses by $0.32B. (PR) 1 Comment [Earnings, Breaking News]
Thursday, May 2, 12:05 AM Notable earnings before Thursday’s open: ABMD, ACOR, ACT, AEE, ANR, ANSS, ARG, ARQL, ATK, AYR, BDBD, BDX, BEAM, BGCP, BZH, CAH, CEVA, CHD, CI, CME, CNP, CPN, CTRX, DIN, DNR, EL, ELNK, FIG, FLY, FNP, FWLT, GEL, GG, GIL, GM, GNRC, GOLD, HAR, HK, HSH, INCY, INGR, IP, IRDM, IT, ITT, K, LF, LQDT, LXP, MDC, MFC, MGI, MGM, MMC, MMP, MWW, NIHD, NNN, NUS, OCN, OGE, OXF, OZM, PCG, PPL, PWR, PXP, RGLD, RNO, SBH, SFY, SHPG, SNI, SPR, SRE, STRA, TEVA, VMC, VRX, WNR, WPX, WWE, XEL Comment! [Earnings]
Wednesday, May 1, 5:30 PM Notable earnings before Thursday’s open: ABMD, ACOR, ACT, AEE, ANR, ANSS, ARG, ARQL, ATK, AYR, BDBD, BDX, BEAM, BGCP, BZH, CAH, CEVA, CHD, CI, CME, CNP, CPN, CTRX, DIN, DNR, EL, ELNK, FIG, FLY, FNP, FWLT, GEL, GG, GIL, GM, GNRC, GOLD, HAR, HK, HSH, INCY, INGR, IP, IRDM, IT, ITT, K, LF, LQDT, LXP, MDC, MFC, MGI, MGM, MMC, MMP, MWW, NIHD, NNN, NUS, OCN, OGE, OXF, OZM, PCG, PPL, PWR, PXP, RGLD, RNO, SBH, SFY, SHPG, SNI, SPR, SRE, STRA, TEVA, VMC, VRX, WNR, WPX, WWE, XEL Comment! [Earnings]
Monday, April 29, 11:39 AM Gold miners (GDX) have been smacked by plunging gold prices, but Citigroup and HSBC think they have further to fall. Citi worries about AngloGold (AU) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold (HMY) has the balance sheet to weather similar problems; Gold Fields (GFI) is its sector favorite. HSBC cuts GFI, Agnico Eagle (AEM) and many others. 1 Comment [Commodities, Quick Ideas]
Wednesday, April 24, 12:20 PM Investors in gold miners (GDX +3.5%) feel good - at least for a day - after Barrick Gold's (ABX +3.1%) Q1 efforts to cut costs show some success. ABX reduced its 2013 capex forecast to $5.2B-$5.7B, and said all-in sustaining costs are seen at $950-$1,050/oz., vs. a Feb. 14 forecast of $1,000-$1,100. HMY +8.4%, GFI +5.1%, GG +3.7%, NEM +3.6%, EGO +3.2%, AU +3%. 3 Comments [Commodities, On the Move]
Monday, April 22, 1:35 PM Shares of gold miners are mixed after Deutsche Bank's Jorge Beristain cuts price targets for several North American gold producers, warning that some may need to raise capital by selling new stock. Newmont Mining (NEM +0.2%) is cut to Sell from Hold with a $24 price target (from $40), while Barrick (ABX -1.7%) and Kinross (KGC +2.5%) are reduced to Hold from Buy (I, II). Goldcorp (GG +2.2%) is kept at Hold. 2 Comments [Commodities, Quick Ideas, On the Move]
Friday, April 19, 4:58 PM Gold miners soon will release quarterly earnings, but J.P. Morgan says investors should focus on what the companies are doing to cut costs. Barrick Gold (ABX) would be profitable even if gold falls to $1,300/oz., the firm says, but remains vulnerable due to cash needed to operate the Pascua Lama mine and massive debt on its balance sheet. Goldcorp (GG) has a strong balance sheet and $2B in an undrawn revolver. 7 Comments [Commodities]

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