37.24 0.00 (0.00%)
After hours: 4:47PM EDT
|Bid||0.00 x 800|
|Ask||0.00 x 1100|
|Day's Range||36.90 - 38.42|
|52 Week Range||32.18 - 49.80|
|Beta (3Y Monthly)||-0.26|
|PE Ratio (TTM)||53.97|
|Forward Dividend & Yield||0.44 (1.18%)|
|1y Target Est||N/A|
Gold, Miners Have Surged on the Market Rout—What’s the Upside? While gold miners have been out of favor for a long time, that may be about to change. As uncertainty in the market is increasing, gold prices are poised to rise.
Building up an investment case requires looking at a stock holistically. Today I’ve chosen to put the spotlight on Agnico Eagle Mines Limited (NYSE:AEM) due to its excellent fundamentals in Read More...
Gold stocks companies like Goldcorp Inc. (TSX:G)(NYSE:GG) face near-term headwinds, but are ridiculously cheap and could roar higher as the quality of their businesses continues to improve.
Kinross Gold has underperformed its peers YTD (year-to-date), returning -31.9% as of September 24. The VanEck Vectors Gold Miners ETF (GDX) has returned -19.1%, and the SPDR Gold Trust (GLD), which tracks gold’s physical price, has returned -8.2%. Kinross Gold’s second-quarter results were in line, but its lower revenues due to lower production disappointed investors.
Eldorado Gold (EGO) stock has seen rapidly deteriorating analyst sentiments in the past year. Currently, only 17% of the 13 Wall Street analysts covering the stock rate it a “buy.” That stands in sharp contrast to the ~50% “buy” ratings it had almost a year ago. Eldorado stock has lost 38.4% of its value year-to-date as of September 24.
According to the consensus compiled by Thomson Reuters, 22 analysts are currently covering Barrick Gold (ABX). Only 14% of them have recommended a “buy” for the stock, which is just higher than the “buy” recommendations for New Gold (NGD) among major gold miner stocks (GDX). About 77% of analysts have recommended a “hold” for Barrick Gold, and 9% have recommended a “sell.” Its target price of $14.10 implies an upside of 28% based on its current market price.
According to the consensus compiled by Thomson Reuters, 77% of analysts covering Yamana Gold (AUY) stock have recommended a “buy,” while 15% have recommended a “hold.” AUY’s target price represents an upside potential of 58% based on its current market price of $3.90. Yamana’s “buy” ratings have improved to the current level of 77% from 31% a year ago. Yamana saw upgrades from Macquarie, National Bank Financial, GARP Research, GMP Securities, and BMO Capital Markets in 2018.
A company interested in an abandoned South Dakota mine acknowledged that reopening the site could disturb areas that have been reclaimed as part of a $120 million federal cleanup project over nearly two decades. The Gilt Edge Mine in the Black Hills still needs an estimated $88 million worth of reclamation work, The Rapid City Journal reported . The U.S. Environmental Protection Agency worked out a deal with Agnico last year to let the company drill up to 18 holes around the site in order to help the agency find the source of toxic cadmium contamination in Strawberry Creek.
Every investor in Agnico Eagle Mines Limited (NYSE:AEM) should be aware of the most powerful shareholder groups. Institutions often own shares in more established companies, while it’s not unusual toRead More...
Citigroup (C) analyst Alexander Hacking upgraded Barrick Gold to “neutral” from “sell” on August 28. As reported by The Fly, Hacking mentions that he finds Barrick compelling, as its stock price has fallen ~30% in 2018. The target price for Agnico Eagles Mines (AEM) was reduced from $45 to $38, Goldcorp (GG) was reduced from $16 to $14, and Newmont Mining (NEM) was reduced from $42 to $36.
Investors who fear inflation and political uncertainty may benefit from owning Canadian-focused precious metals stocks such as Agnico Eagle Mines Ltd. (TSX:AEM).(NYSE:AEM).
Newmont Mining’s (NEM) AISC (all-in sustaining costs) totaled $1,024 per ounce in the second quarter, 16.0% higher YoY (year-over-year) and 5.2% higher sequentially. This represents the temporary rise in costs for Newmont Mining in 2018 as the company executes its stripping campaigns at Carlin, Twin Creeks, Boddington, and Yanacocha.
What Could Drive Newmont Mining Stock in the Rest of 2018? In the second quarter, Newmont Mining (NEM) produced 1.16 million ounces, marking a 14.0% decline YoY (year-over-year). Newmont Mining (NEM) maintained its gold production guidance of 4.9 million–5.4 million ounces in 2018 and 2019.
Newmont Mining (NEM) reported its second-quarter earnings before the market opened on July 26 and held its conference call the same day. The company reported EPS of $0.26, which beat the consensus expectations by $0.02. Its revenues of $1.66 billion, however, missed expectations by 7.0%.
I am writing today to help inform people who are new to the stock market and want to learn about the link between company’s fundamentals and stock market performance. AgnicoRead More...
Iamgold’s Q2 2018 Results Were a Mixed Bag: Is Outlook Better? Historically, Iamgold (IAG) has traded at a lower valuation than its peers. However, after its significant turnaround in 2017 and year-to-date, its discount compared to its peers has decreased. Among Iamgold’s (IAG) close peers, Agnico Eagle Mines (AEM), Yamana Gold (AUY), Eldorado Gold (EGO), and New Gold (NGD) have forward multiples of 11.3x, 5.7x, 6.7x, and 4.6x, respectively.
Goldcorp (GG) reported its Q2 2018 earnings on July 25, 2018, after the market closed and held its earnings conference call on July 26. It reported adjusted EPS of $0.02, which missed the consensus estimate by $0.05. Its revenues of $793 million missed the analyst estimate by ~9%. Lower production and foreign exchange currency costs were mainly responsible for the miss. The company reported that it lost $0.20 per share due to deferred tax balances. Goldcorp also missed analysts’ expectations for its Q1 2018 earnings.
Iamgold’s Q2 2018 Results Were a Mixed Bag: Is Outlook Better? After achieving record production of 109,000 ounces in the first quarter of 2018, Iamgold’s (IAG) Essakane mine reported weaker production in the second quarter. IAG maintained its guidance for Essakane to produce 380,000–395,000 ounces of gold in 2018.
Iamgold (IAG) generated revenues of $277.4 million in Q2 2018, which represents a YoY (year-over-year) growth of 1.1%. Its higher realized prices and higher sales at its Rosebel mine were offset by lower sales volumes at its Essakane and Westwood mines. Its attributable gold production was 214,000 ounces, which was 4% lower than Q2 2017.
Iamgold (IAG) reported its Q2 2018 results after the market closed on August 8. It reported EPS of $0.03, beating the consensus estimate by $0.02. Its revenues, however, missed the expectation, coming in at $277.4 million compared to the consensus of $301 million.