Dividends4Life: Goldcorp: Better With a Smaller Dividend?

Goldcorp: Better With a Smaller Dividend?

Posted by D4L | Monday, August 17, 2015 | | 0 comments »

Investors have been battling it out over Goldcorp (GG) today, as the gold miner has fallen as much as 2.9% and risen as much as 1.1% after providing solid earnings but cutting its dividend. Citigroup’s Brian Yu and Jessica Idiculla explain:

"Goldcorp reported 2Q operating EPS of $0.08, in line with our estimate of $0.08 and above consensus of $0.07. Higher production and sales offset lower prices and cash costs. Goldcorp generated positive free-cash flow in the quarter but cut its dividend by 60% in light of low gold prices. Reported earnings of $0.47/sh included a non-cash dilution gain and gains on the sales of Tahoe Resources shares & South Arturo mine project stake… Goldcorp is executing better this year and should achieve the high end of production guidance but the recent gold weakness is a more powerful earnings mover, maintaining Buy on expectations for a gold recovery to $1200 in 2016."

Source: Baron's

Related Articles:
- 4 Dividend Stocks For A Confident And Secure Future
- High-Yield, High-Return Investments To Increase Income While Waiting On Dividend Growth
- The Most Important Financial Statement When Selecting Dividend Growth Stocks
- 5 Five-Star Dividend Stocks
- 10 Fun Facts That You Might Not Know About Microsoft

Click here to have future posts delivered to you for free!

_____________________________________________________________________

0 comments

Post a Comment

~

Latest From Dividend Growth Stocks

Popular Posts Last 30 Days