Research Desk Line-up: Richmont Mines Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Goldcorp Inc. (NYSE: GG), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=GG, following the Company's announcement of its third quarter fiscal 2017 operating results on October 25, 2017. The Canadian gold mining Company exceeded earnings expectations and re-affirmed its gold production guidance for FY17. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Gold industry. Pro-TD has currently selected Richmont Mines Inc. (NYSE: RIC) for due-diligence and potential coverage as the Company announced on November 08, 2017, its operating and financial results for Q3 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Richmont Mines when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GG; also brushing on RIC. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=GG

http://protraderdaily.com/optin/?symbol=RIC

Earnings Reviewed

For the three months ended September 30, 2017, Goldcorp's revenue totaled $866 million, down 5% compared to revenue of $915 million in Q3 2016, primarily due to a decline in gold and silver sales volumes, and a drop in the average realized gold and silver prices, partially offset by a 33% increase in the average realized zinc price and higher zinc sales volumes.

During Q3 2017, Goldcorp's production costs decreased 12% on a y-o-y basis primarily due to the closure of Marlin in Q2 2017, and the divestiture of Los Filos in April 2017, and the impact of the Company's initiative to realize $250 million of sustainable annual efficiencies. These decreases were partially offset by higher costs at Cerro Negro due to the elimination of an export tax credit at the end of 2016 and the impact of inflation in Argentina out-pacing the devaluation of the Argentine peso.

For Q3 2017, Goldcorp's net earnings were $111 million, or $0.13 per share, compared to $59 million, or $0.07 per share, for Q3 2016. The increase in net earnings was primarily attributed to higher earnings from Peñasquito from higher gold and zinc production from metal recoveries, growth in zinc market prices, the impact of Goldcorp's initiative to realize $250 million of sustainable annual efficiencies, and an increase in the Company's income tax recovery. The Company's earnings beat Wall Street's expectations of $0.09 per share.

Operating Results

For Q3 2017, Goldcorp reported Gold production of 633,000 ounces at all-in sustaining costs (AISC) of $827 per ounce compared to 715,000 ounces at AISC of $812 per ounce for Q3 2016. The increase in AISC was primarily due to lower gold sales and higher sustaining capital, mainly offset by lower production costs and the impact of by-product production and market prices.

During Q3 2017, Goldcorp sold 490,000 ounces of gold for a total of $628 million, recording an average realized price of $1,287 per ounce of gold compared to the selling of 537,000 ounces of gold for a total of $716 million, recording an average realized price of $1,336 per ounce of gold in Q3 2016.

The decrease in the gold sales volumes was primarily attributable to lower sales at Red Lake, due to lower tons and grade from the High Grade Zone, and the impact of the sale of Los Filos in April 2017, and the closure of Marlin in Q2 2017, offset partially by higher sales volumes at Peñasquito and Cerro Negro.

During Q3 2017, Goldcorp sold 6,780,000 ounces of silver for a total of $90 million, recording an average realized price of $14.01 per ounce of silver compared to the selling of 7,355,000 ounces of silver for a total of $119 million, recording an average realized price of $16.09 per ounce of silver in Q3 2016. The decrease in silver sales volumes was due to the closure of Marlin in the previous quarter.

Cash Matters

Goldcorp's operating cash flows were $315 million for Q3 2017 compared to $267 million for Q3 2016. The Company's adjusted operating cash flows totaled $308 million for the reported quarter compared to $401 million for the year-earlier same quarter. On June 22, 2017, the Company completed the extension of its $3.0 billion credit facility term by one year to June 22, 2022.

At September 30, 2017, the Company's adjusted net debt was $2.2 billion, consistent with the adjusted net debt balance at December 31, 2016. At September 30, 2017, excluding cash and cash equivalents held at associates of $156 million, Goldcorp had $3.1 billion of available liquidity, comprised of $195 million of cash and cash equivalents and short-term investments, and $2.9 billion available on its $3.0 billion credit facility.

Outlook

Goldcorp reconfirmed its guidance for gold production of 2.5 million ounces (+/- 5%), while AISC projection was improved to $825 per ounce (+/- 5%), from earlier estimations of $850 per ounce.

Stock Performance

At the closing bell, on Tuesday, November 14, 2017, Goldcorp's stock slightly slipped 0.15%, ending the trading session at $13.24. A total volume of 5.76 million shares have exchanged hands. The Company's stock price advanced 1.38% in the last one month and 1.61% in the previous three months. The stock is trading at a PE ratio of 22.03 and has a dividend yield of 0.60%. The stock currently has a market cap of $11.60 billion.

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SOURCE: Pro-Trader Daily