Yahoo Finance Today’s Research Reports on Stocks to Watch: Goldcorp and Barrick Gold
NEW YORK, NY / ACCESSWIRE / March 26, 2018 / Gold hit its highest in a month as traders looked at it as a safe haven after concerns over a global trade war. Shares of both Goldcorp and Barrick Gold headed higher in Friday trading.
RDI Initiates Coverage on:
Goldcorp Inc.
https://rdinvesting.com/news/?ticker=GG
Barrick Gold Corporation
https://rdinvesting.com/news/?ticker=ABX
Goldcorp Inc. shares closed up 4.75% on nearly 10 million shares traded on Friday. Goldcorp was among several gold stocks to head higher as investors looked at gold as a safe place during a time of uncertainty regarding steel tariffs. It was in the middle of February that the company reported its earnings release. For the fourth quarter, Goldcorp reported net earnings of $242 million or 28 cents a share. This is compared to $101 million or 12 cents in the period a year ago. Adjusted earnings were 10 cents a share, missing the analyst estimate by a penny. Revenue at $853 million was a loss of 5% YOY and missed the analyst expectation of $870 million. Goldcorp also reported that gold sales decreased roughly 17.6% YOY to 633,000 ounces during the quarter and production dropped 15.1% to 646,000 ounces. For the full year, net earnings were $658 million, or 76 cents a share. Revenues were down 2.5% at $3,423 million.
Access RDI's Goldcorp Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GG
Barrick Gold Corporation closed up 2.71% on Friday with about 14.7 million shares traded. It was revealed last week that the world's largest bullion producer has cut the compensation last year for two of its top executives. The 2017 long-term bonus for Executive Chairman John Thornton was slashed by 18 percent to $4.3 million, lowering his total compensation to $7.7 million. This is a decrease of 9.4% compared to 2016. The company's President Kevin Dushinsky's 2017 total compensation went down 19% to $4.2 million. It was in the middle of February since the company reported its earnings report. The company reported a net loss of $314 million or 27 cents per share for fourth-quarter 2017. This is compared to net earnings of $425 million or 36 cents a year ago. Adjusted net earnings were $253 million, or 22 cents a share, beating the 20 cents that analysts had expected. Revenue at $2,228 million also beat the analyst expectation of $2,181 million.
Access RDI's Barrick Gold Corporation Research Report at:
https://rdinvesting.com/news/?ticker=ABX
Our Actionable Research on Goldcorp Inc. (NSYE: GG) and Barrick Gold Corporation (NYSE: ABX) can be downloaded free of charge at Research Driven Investing.
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