Goldcorp Inc. ( GG - Analyst Report ) has notified Premier Gold Mines Limited its plans to acquire a 51% interest in the Broulan Reef Project. The Broulan Reef Project is located adjacent to Goldcorp’s Bruce Channel deposit and Premier and Goldcorp's Rahill-Bonanza Joint Venture.

Premier, on Feb 25, agreed to acquire the Broulan Reef Project from Cypress Development Corp. and Skyharbour Resources Ltd. Per the terms of the Rahill-Bonanza Joint Venture Agreement between Premier and Goldcorp, Goldcorp has a 30-day right to acquire a 51% interest in the Broulan Reef Project and fund 51% of acquisition costs.

Premier is a North American exploration and development company with multiple gold projects located in the heart of proven mining districts in North America. The company holds an unrivalled strategic property portfolio with core projects that are all potential "company-makers" in their own right.

Few days ago, Goldcorp released its fourth-quarter 2012 results. The company’s fourth-quarter adjusted earnings (excluding one-time items other than stock-based compensation expenses) of 42 cents a share missed the Zacks Consensus Estimate of 54 cents and were well below 66 cents a share earned in the year-ago quarter. Earnings, as reported, were 47 cents per share compared with 39 cents in the year-ago quarter.

Revenues decreased 5.3% year over year to $1.43 billion in the quarter, missing the Zacks Consensus Estimate of $1.63 billion. For the full year, sales increased 1.4% to $5.43 billion, also missing the Zacks Consensus Estimate of $5.89 billion.

Gold sales fell 5.8% year over year to 645,100 ounces in the reported quarter and production inched up 1.8% to 700,400 ounces. Total cash costs were $360 per ounce of gold on a by-product basis and $621 per ounce on a co-product basis.

Goldcorp is adopting an all-in sustaining cash cost measure this year, which include by-product cash costs, sustaining capital, corporate general and administrative expenses, exploration expense and reclamation cost accretion.

Currently, Goldcorp retains Zacks Rank #5 (Strong Sell).

Other companies in the gold mining industry having favorable Zacks Rank are Sandstorm Gold Ltd. ( SAND ) , Banro Corporation (BAA) and Seabridge Gold Inc. (SA). All these companies hold a Zacks Rank #2 (Buy).