Yamana and Agnico Eagle

Yamana Gold (AUY) and Agnico Eagle Mines (AEM) outperformed the Gold Miners Index (GDX) and gold (GLD) in the first quarter of 2019, gaining 10.6% and 7.7%, respectively.

However, their gains were smaller than those of their intermediate peers Eldorado Gold (EGO) and New Gold (NGD), which saw rises of 60.8% and 13.8%, respectively.

Yamana and Agnico Eagle: Is There More Upside in 2019?

WAKE UP WITH BAGELS & STOX, OUR NEW EMAIL THAT ENTERTAINS AND INFORMS YOU BEFORE THE DAY STARTS. SIGN UP HERE!

Yamana’s strong results

AUY’s fourth-quarter results were stronger than expected. Its EPS of $0.01 and its revenue of $483 million topped analysts’ expectations for the quarter. Its full-year production exceeded its guidance, while its costs came in better than expected. Its long-term guidance was also strong, as it expected to benefit from continued strong performances at Canadian Malartic and Cerro Moro.

On March 7, Yamana Gold, Glencore (GLNCY), and Goldcorp (GG) entered into an agreement to develop and operate Yamana’s Agua Rica gold and copper mine in Argentina using the existing infrastructure and facilities of these three companies’ Alumbrera mine. This development also benefited the stock.

Agnico Eagle Mines

Agnico Eagle Mines has been consistent in its operational performance and has demonstrated strong execution. The company is expecting record gold production in 2019. Going forward, AEM’s growth projects are expected to kick in, which should drive its production growth in 2019 and beyond. Strong cash flows and dividend hike expectations are driving its stock higher.

Latest articles

German chip maker Infineon Technologies has reportedly raised 1.55 billion euros (~$1.74 billion) in capital by selling its shares to fund its acquisition of Cypress Semiconductor (CY). Infineon has sold ~113 million new shares at 13.70 euros each.

As of June 18, Dunkin’ Brands (DNKN) was trading at $80.07, an 8.9% rise since reporting its first-quarter earnings on May 2. Also, DNKN was trading at a premium of 29.8% from its 52-week low of $61.69 and a discount of 1.6% from its 52-week high of $81.40.

19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

WRITTEN BY Maitali Ramkumar

ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.

19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.

Uber Technologies (UBER) has picked Melbourne as another test site for its flying taxi service known as UberAir. The Australian city is the first international test site Uber has chosen for its flying taxi service. The addition of Melbourne brings the number of test locations Uber has picked for its UberAir service to three.

Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.

172.31.71.127