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Franco Nevada Corp.

Publié le 21 janvier 2016

Strike Gold This Earnings Season with 3 Stocks

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Mots clés associés :   Canada | Comex | Copper | G Mexico | Greenback | Iran | Mines | Panama |

Strike Gold This Earnings Season with 3 Stocks

 

Last year, a stronger greenback, slump in oil prices and the climb in U.S. equities led to a more than 11% decline in gold’s value, the third consecutive year of loss for the metal. With the Fed finally hiking interest rates in December, thus ending an era of zero interest rates, gold slouched to six-year lows.

 

What Turned the Tables for Gold This Year?

 

Tensions between Saudi Arabia and Iran combined with an unexpected nuclear test from North Korea boosted appetite for gold.

 

But it was mainly about China

 

China's stock market has been shaken by the slowdown in the country's economy and Beijing's failed efforts to stabilize its financial markets. China’s GDP moderated to 6.8% for the fourth quarter, its lowest reading since the financial crisis. The 6.9% growth for 2015 was a marked deceleration from the 7.3% gain last year and its weakest in 25 years.

 

The International Monetary Fund (IMF) projects growth in China to moderate to 6.3% in 2016 and 6% in 2017, reflecting weaker investment growth as the economy continues to rebalance. Given the gloom in China, the international organization trimmed its 2016 world growth outlook to 3.4% from its earlier estimate of 3.6%. Global stocks are edging lower amid lingering concerns about China’s economy and a fresh bout of volatility in oil prices.

 

U.S Data Disappoints

 

A slew of disappointing data from the U.S. also helped prop up gold prices this year. U.S. retail sales fell 0.1% in December and were just up 2.1% in 2015, the weakest since the end of the recession in 2009. Industrial production declined 0.4% in December, falling for the third consecutive month. For the fourth quarter, industrial production fell at an annual rate of 3.4%. On top of this, yesterday’s data showed a 2.5% drop in housing starts and a 3.9% decline in building permits in December.

 

Signs of renewed weakness in the world's top economy raise questions about whether the Federal Reserve will be able to hike interest rates as per its earlier plans. This is a positive for non-interest bearing assets like gold.

 

This led gold for February delivery on the Comex division of the New York Mercantile Exchange to rise $17.10 closing at $1,106.20 per ounce. In fact, the yellow metal has been the best-performing non-agricultural commodity of 2016.

 

Another factor that will eventually be a tailwind for gold is that the supply of the precious metal has already attained peak levels as per reports. Global production of gold is likely to decline by 3% in 2016, thus ending a 7-year stint of rising output. Lower mined gold supply could help prices navigate north.

 

Performance in the Fourth Quarter So far

 

As per the Zacks classification, the gold-mining industry comes under the broader Basic Materials sector. Only 10% of the companies in the sector have reported their fourth-quarter numbers so far, with a 98% drop in earnings on the scoreboard. Taking into account all the companies that are yet to report, a 31.6% drop is projected for the fourth quarter.

 

The scenario will improve somewhat in the first half of 2016, with expected declines of 9.5% in the first and 5.7% in the second, still in negative territory. However, a dramatic recovery is projected for the latter half of the year with 9.5% growth in the third and 30.6% in the fourth. (For a detailed look at the earnings outlook for this sector and others, please read our Earnings Trends report.)

 

At the onset of the fourth quarter earnings season, it makes sense to bet on a few gold miners that have the potential to beat earnings in their upcoming releases. An earnings beat backed by the strong growth outlook for the sector would reinstate investor confidence in the stocks leading to immediate price appreciation.

 

How to Make a Choice?

 

With a number of players in the industry, picking the right stocks is a daunting task. However, the Zacks proprietary methodology makes it easier. One can narrow down the list with the combination of a favorable Zacks Rank – Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) – and a positive Earnings ESP, which is the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. It helps in picking stocks that have high chances of delivering earnings surprises in their next earnings announcement. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%.


Here are three gold mining stocks that have this compelling combination and are set to surprise this earnings season.

 

Goldcorp Inc. (GG)


Headquartered in Vancouver, Canada, Goldcorp is a leading gold producer engaged in gold mining and related activities across Canada, the U.S., Mexico and Central and South America.


The company with a market capitalization of $8.18 billion has a long-term expected earnings growth rate of 0.90%. This Zacks Rank #3 stock has an Earnings ESP of +75.00%. The Zacks Consensus Estimate has moved up 33% over the last 30 days and is currently pegged at 4 cents.

 

Goldcorp’s growth drivers lie in its vast array of development and exploration projects. The company expects production for 2015 to be at the top end of its guidance range of 3.3 million and 3.6 million ounces. Goldcorp continues to focus on cost management, successful replacement of mined gold reserves and the prudent allocation of free cash flow.

 

Goldcorp will report fourth-quarter results after the market closes on Feb 25.

 

Turquoise Hill Resources Ltd. (TRQ)

 

Turquoise Hill Resources is an international mining company with copper-gold and coal mines in the Asia-Pacific region. Its principal asset is its 66% interest in the Oyu Tolgoi mine in southern Mongolia, one of the world's largest copper-gold-silver mines. It has a market capitalization of $3.5 billion.

 

Turquoise Hill Resources has announced that its annual gold production of 653,000 ounces is in line with its guidance. The Oyu Tolgoi mine is expected to produce 210,000 to 260,000 ounces of gold in concentrates in 2016. In Dec 2015, Oyu Tolgoi signed a $4.4 billion project finance facility, which is regarded as an unprecedented milestone for Turquoise Hill. Work on the feasibility study and securing necessary permits for the development of the underground mine is on track. Once these steps are completed, the company expects a formal 'notice to proceed' decision in early second quarter 2016.

 

This Zacks Rank #3 stock has an Earnings ESP of +66.67%. The Zacks Consensus Estimate for the fourth quarter is at 3 cents and the company has delivered an average earnings surprise of 25.60% in the past four quarters.

 

Turquoise Hill Resources is expected to report fourth-quarter results on Mar 22.

 

Franco-Nevada Corporation (FNV)

 

Headquartered in Toronto, Canada, Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, and internationally. It has a market capitalization of $6.67 billion.

 

In Oct 2015, Franco-Nevada closed the acquisition of Antamina silver stream from Teck Resources Limited (TCK). Antamina is expected to contribute 12,300 to 15,000 gold equivalent ounces from the fourth quarter of 2015. In Nov 2015, Franco-Nevada began funding its gold and silver stream investment in the Cobre Panama project which will be ramping up production in 2018.

 

This Zacks Rank #3 stock has an Earnings ESP of +8.33%. The Zacks Consensus Estimate for the fourth quarter is at 12 cents. 

 

Franco-Nevada Corporation is expected to report fourth-quarter results on March 23.

 

What Next?

 

After years of languishing gold prices, declining output from existing mines, geopolitical tensions, a stock market rout, China worries and a possible delay in further rate hikes will work in favor of gold. At this juncture, these possible winners backed by a solid Zacks Rank and a positive Earnings ESP could be a great idea for investors to gain from this earnings season.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
GOLDCORP INC (GG): Free Stock Analysis Report
 
TURQUOISE HILL (TRQ): Free Stock Analysis Report
 
FRANCO NV CP (FNV): Free Stock Analysis Report
 
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Lire la suite de l'article sur finance.yahoo.com
Données et statistiques pour les pays mentionnés : Canada | Iran | Panama | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Iran | Panama | Tous

Franco Nevada Corp.

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Franco Nevada est une société de royalties minières de zinc et de plomb basée au Canada.

Franco Nevada est productrice de zinc, de plomb, d'argent, de cuivre, de nickel, d'or, de pgm, de platine et d'uranium en USA, au Canada, au Ghana, au Mexique, en Australie, en Afrique Du Sud, en Indonesie et en Mauritanie, en développement de projets d'argent, de cuivre, de molybdène, de nickel, d'or, de plomb et de zinc au Canada, en Grece et en Republique Dominicaine, et détient divers projets d'exploration en Australie et en Argentine.

Ses principaux projets en production sont BALD MOUNTAIN en USA, HEMLO, HOLLISTER, ROBINSON (NEVADA) et HOLLOWAY au Canada, NORTH LANUT et MT. MURO en Indonesie, EZULWINI, MARIGOLD, MESQUITE, PANDORA JV et (MWS) BUFFELSFONTEIN TAILING PROJECT en Afrique Du Sud, TASIAST en Mauritanie, CERRO SAN PEDRO, PALMAREJO, GOLDSTRIKE et STILLWATER MINE au Mexique, MOUNT KEITH - OC et MOUNT KEITH - SP en Australie et AHAFO SOUTH au Ghana, ses principaux projets en développement sont DEE PROJECT, TULSEQUAH CHIEF, ROSEMONT RANCH et PROSPERITY au Canada, PERAMA HILL en Grece et FALCONDO MINE en Republique Dominicaine et ses principaux projets en exploration sont DETOUR LAKE, EDSON, WEYBURN UNIT et MIDALE UNIT au Canada, TARICORI et PINSON au Perou, PECULIAR KNOB, ADMIRAL HILL et MOOLART WELL en Australie et CALCATREU en Argentine.

Franco Nevada est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 30,4 milliards CA$ (24,3 milliards US$, 21,3 milliards €).

La valeur de son action a atteint son plus bas niveau récent le 08 mars 2019 à 100,00 CA$, et son plus haut niveau récent le 12 août 2022 à 170,28 CA$.

Franco Nevada possède 178 480 000 actions en circulation.

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Rapports annuels de Franco Nevada Corp.
2007 Annual report
Financements de Franco Nevada Corp.
20/08/2012-Nevada and Inmet Agree to a $1 Billion Precious Metals Stre...
13/03/2008Announces Closing of Previously Announced Bought Deal Financ...
22/02/2008Announces C$232,500,000 Bought Deal Financing
Nominations de Franco Nevada Corp.
09/05/2013-Nevada Announces Election of Directors
Rapports Financiers de Franco Nevada Corp.
28/03/2008Reports Initial Financial Results and Year End Oil and Gas R...
Projets de Franco Nevada Corp.
07/10/2015Franco-Nevada to Acquire a Silver Stream on the Antamina min...
24/12/2014CANADA STOCKS-Gold miners nudge TSX higher, but energy stock...
27/09/2012Virginia and Franco Nevada jointly acquire the initial royal...
Communiqués de Presse de Franco Nevada Corp.
28/07/2016Coverage Initiated on Gold Stocks FrancoNevada, New Gold, De...
22/01/2016Codexis, Morgan Stanley, Goldcorp, Turquoise Hill Resources ...
21/01/2016Strike Gold This Earnings Season with 3 Stocks
14/12/2015Private equity, pension funds eye more metal streaming deals
11/12/2015S&P Dow Jones Indices Announces Changes to the S&P/TSX Canad...
30/11/2015Here is What Hedge Funds Think About Franco-Nevada Corporati...
27/11/2015Is Plum Creek Timber Co. Inc. (PCL) Going to Burn These Hedg...
15/10/2015Franco-Nevada To Release Third Quarter 2015 Results
06/10/2015First Quantum Minerals revises deal with Franco-Nevada
21/09/2015Miners turn to alternative finance to cut debt as downturn g...
11/08/2015Edited Transcript of FNV.TO earnings conference call or pres...
10/08/2015Franco-Nevada meets 2Q profit forecasts
10/08/2015Franco-Nevada Reports Q2 2015 Results and Declares Quarterly...
25/06/2015Franco-Nevada To Release Second Quarter 2015 Results
26/03/2015Franco-Nevada Files Year-End Disclosure Documents
26/03/2015-Nevada Files Year-End Disclosure Documents
25/03/2015Franco-Nevada Reports Strong Year-End 2014 Results, Increase...
25/03/2015Franco-Nevada meets 4Q profit forecasts
23/03/2015Cliffs to sell Ring of Fire assets to Noront
18/02/2015Franco-Nevada Declares 2015 First Quarter Dividend
18/02/2015-Nevada Declares 2015 First Quarter Dividend
11/02/2015Franco-Nevada To Release 2014 Results And Provide Outlook
14/01/2015Banks withdrawal opens doors for niche financiers in gold se...
05/11/2014Franco-Nevada beats 3Q profit forecasts
05/11/2014Franco-Nevada Reports Strong Q3 2014 Results and Declares Qu...
05/11/2014-Nevada Reports Strong Q3 2014 Results and Declares Quarterl...
06/10/2014-Nevada to Acquire a Gold & Silver Stream on Candelaria from...
07/05/2014-Nevada Reports Q1 2014 Results and Declares Increased Quart...
19/03/2014-Nevada Announces 2013 Year-End Results, Increases Dividend ...
28/01/2014-Nevada Provides Updates on Cobre Panama, Timing of Release ...
06/11/2013-Nevada Reports Q3 2013 Results
05/07/2013-Nevada to Release 2013 Second Quarter Results on August 7
05/07/2013-Nevada to Release 2013 Second Quarter Results on August 7
05/07/2013-Nevada to Release 2013 Second Quarter Results on August 7
29/04/2013-Nevada to Release 2013 First Quarter Results on May 8
20/03/2013-Nevada Files Year-End Disclosure Documents
13/11/2012-Nevada Announces Closing of Weyburn Net Royalty Interest Ac...
06/11/2012-Nevada Agrees to Acquire Weyburn Net Royalty Interest for C...
26/10/2012-Nevada Third Quarter 2012 Results Release and Conference Ca...
27/04/2012and Annual Meeting of Shareholders
01/12/2011Nevada and Lumina Royalty Complete Plan of Arrangement
24/11/2011Nevada and Lumina Royalty Announce Shareholder Approval of A...
22/09/2011[Franco-Nevada] Franco-Nevada to Acquire Lumina Royalty Corp...
22/09/2011-Nevada to Acquire Lumina Royalty Corp. for $66 million
06/09/2011[Franco-Nevada] Franco-Nevada Celebrates NYSE Listing
06/09/2011-Nevada Celebrates NYSE Listing
14/03/2011Nevada and Gold Wheaton Complete Plan of Arrangement
08/03/2011Gold Wheaton and Franco-Nevada Announce Shareholder Approval...
06/01/2011Agreement to Acquire Gold Wheaton
26/03/2008Annual General Meeting, Analyst Day and Financial Reporting ...
14/01/2008To Hold Analyst Working Session To Review Listing Materials
04/01/2008 Strengthens Management Team
31/12/2007Underwriters of Franco-Nevada's Initial Public Offering
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TORONTO (FNV.TO)NYSE (FNV)
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