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Key Insights from Goldcorp’s 3Q17 Earnings

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Dec. 4 2020, Updated 3:53 p.m. ET

Goldcorp’s 3Q17 results

Goldcorp (GG) reported its 3Q17 results after the market closed on October 25, 2017. It held a conference call the next day to discuss the results.

It reported EPS (earnings per share) of $0.13, which beat analysts’ expectations by $0.02. Its revenues of $866 million also surpassed market expectations by $9.1 million.

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Stock price reaction

Goldcorp’s earnings were a slight beat on the market expectation. GG stock rose 0.3% on October 26, 2017, after the conference call. Investors seemed pleased with the company’s 26% YoY (year-over-year) reserves growth. Among its peers (GDX), Barrick Gold (ABX) also reported its 3Q17 results on October 25, 2017, and fell 7.9% on October 26. That was mainly due to an earnings miss and the proposed framework for working out its dispute with the Tanzanian government. Newmont Mining (NEM) released its 3Q17 results on October 26, 2017, which were better than the earnings expectations. Still, its stock fell 2.6% that day. Its costs were higher than expected, while its realized prices were lower. Kinross Gold (KGC) plans to report its 3Q17 results on November 8, 2017.

What’s the outlook?

In this series, we’ll analyze what Goldcorp’s prospects look like based on its 3Q17 results and management’s comments. We’ll also analyze the company’s production and cost performances. We’ll try to see how Goldcorp is positioning itself amid volatile gold prices (GLD). In the next part of this series, we’ll look at Goldcorp’s key financial measures in 3Q17.

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