start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

I say things on Twitter

10/26/17

The Tier One earnings day sweepstakes

We got the 3q17 earnings from the big four goldies between post close yesterday and the open today, let us see how (in order of market cap size as of last night) Newmont (NEM), Barrick (ABX), Goldcorpse (GG) and Agnico (AEM) have got on compared to the Gold & Silver Index (XAU) today:

Heavy fail, Barrick (ABX):

ABX didn't deliver on the bottom line and on a negative day for miners like today, your stock is duly crushed no matter how much extra polish you've added to the balance sheet.

One thumb down, Newmont (NEM):

NEM gave us an in-line quarter, which isn't enough on a negative day for miners like today.


One thumb up, Goldcorpse (GG):
Decent production and better costs than I and many expected. Still it's only just above UNCH today after popping early doors, gold's drop has taken the shine off everything.

And the winner is Agnico (AEM):
An excellent quarter, a beat on just about every metric and a dividend bonus, too. The market darling delivers again and there's now less then $750m market cap difference between AEM and GG...gonna gitcha Garofalo.