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MARKETS LIVE BLOG:

STOCKS SHED GAINS, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Today’s Research Reports on Stocks to Watch: Yulong Eco-Materials and Goldcorp

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / October 29, 2018 / Yulong Eco Materials was seeing big gains on Friday. The company recently acquired the Millennium Sapphire and aims to take it on a tour of museums around the world. Goldcorp was seeing a bounce after big losses last week on a disappointing third quarter report.

RDI Initiates Coverage on:

Yulong Eco-Materials Limited
https://rdinvesting.com/news/?ticker=YECO

Goldcorp Inc.
https://rdinvesting.com/news/?ticker=GG

Yulong Eco-Materials Limited shares closed up 66.20% on Friday on staggering trading volume compared to usual. The stock traded nearly 15.2 million shares compared to an average of just a little over 1 million shares. The company recently purchased the Millennium Sapphire. CEO Hoi Ming Chan said, “We are extremely pleased to have completed the purchase of the Millennium Sapphire “MS” for $50 million on October 17th, and are currently in discussions to acquire other great art masterpieces.” The company plans to take the Millennium Sapphire on a tour of museums around the world as well as to develop documentaries and include it in the plots of feature films. Yulong Eco will develop games around its museum tours, much in the same manner as the Pokemon Go craze and other virtual games. Chan also added, “We will develop the business and cash flows of the Millennium Sapphire through games, branding and licensing along with royalties and ticket sales through major museums worldwide. We will retain some of the top art and promotions experts globally to develop and manage this once in a lifetime opportunity.” The company is moving to New York City and is also aiming to change the name of the corporation to Millennium Enterprises Limited.

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Access RDI’s Yulong Eco-Materials Limited Research Report at:
https://rdinvesting.com/news/?ticker=YECO

Goldcorp Inc. shares closed up a little over 4% on Friday with around 22.5 million shares traded. It was a nice gain considering the stock saw big losses last week after reporting third quarter results that sent the stock to its lowest levels since 2002. For the quarter, Goldcorp reported a loss of 12 cents while analysts waited for a loss of 10 cents. According to Andrew Kaip, an analyst at BMO Capital Markets, the company's results were a “clear disappointment." Macquarie Group analyst Michael Siperco remarked, "We knew this would be a miserable quarter. It was a little bit weaker than most expected.” CEO and President David A. Garofalo said optimistically on the earnings call, "Steady project execution in the third quarter during a transition period at our flagship Peñasquito mine continue to process of expanding and de-risking our operating mines towards achieving our 20/20/20 production growth and cost reduction objectives. At the same time, with our renewed focus on exploration, we essentially replaced gold reserve depletion across Goldcorp operated assets, establishing a strong foundation to achieve our gold reserve target of 60 million ounces by 2021."

Access RDI’s Goldcorp Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GG

Our Actionable Research on Yulong Eco-Materials Limited (NASDAQ: YECO) and Goldcorp Inc. (NYSE: GG) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com