Today’s Research Reports on Stocks to Watch: Yamana Gold and Goldcorp
Yamana shares closed up higher on Friday after breaking out last Thursday when the company announced 2017 production levels that were better than expected. Shares of Goldcorp also saw gains despite any news from the company. Gold prices soared to 7-week highs last week which may have helped both companies see their shares soar higher.
RDI Initiates Coverage on:
Yamana Gold Inc.
Yamana Gold Inc. shares closed up 2.99% on almost 10.8 million shares traded on Friday. The stock saw gains of 5% on Thursday as well after the gold and copper company posted strong 2017 production results that beat expectations earlier in the week. Despite production levels dropping below 2016 levels, it was still a beat. For the fourth quarter gold production hit 259,000 ounces. This was a 3.7% decrease. Silver product at 1.17 million ounces was a 28% decrease. Copper production at 34 million pounds saw a 3 million decrease. Peter Marrone, Yamana’s Chairman and Chief Executive Officer, remarked, "We are pleased with our strong operational performance. We have met and significantly exceeded production at low costs that are consistent with our costs guidance. We are also very pleased with the advancement of Cerro Moro, which is on schedule to begin operations in a few months. The copper advanced sales program is part of a series of steps we have undertaken, and continue to undertake, as part of a program begun several years ago, to definitively improve and settle our balance sheet and financial status, all in preparation of the start-up of Cerro Moro. We expect Cerro Moro to meaningfully increase our cash flows based on its planned strong production of precious metals at low costs, costs that are among the lowest in the industry. We are now well positioned with our six, and soon to be seven, producing mines along with a strong pipeline of advancing assets and opportunities."
Access RDI’s Yamana Gold Inc. Research Report at:
Goldcorp Inc. shares closed up 3.24% on about 8.2 million shares traded this past Friday. Brokerages have forecast that the company will be posting $891.47 million in sales for the current quarter. A couple of analysts are anticipating revenue in the range of $879.55 million to $903.39 million. In the year ago period the company had posted sales of $898 million. For full year 2017, Sales is estimated to be in the range of $3.12 billion to $3.47 billion. The company will be releasing its 2017 fourth quarter and full year earnings results on February 21st.
Access RDI’s Goldcorp Inc. Research Report at:
Our Actionable Research on Yamana Gold Inc. (NYSE: AUY) and Goldcorp Inc. (NYSE: GG) can be downloaded free of charge at Research Driven Investing.
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