We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mining Stocks' Q2 Earnings Slated for Aug 5: UUUU, PVG
Read MoreHide Full Article
Alcoa, Inc. (AA - Free Report) kick-started the second-quarter earnings season with an earnings beat despite depressed aluminium prices, raising hopes in the mining sector. This sector had been racked by lower commodity prices last year. Gold and silver have been major movers this year, supported by the slowdown in China, Brexit-induced volatile equity markets and a dovish Fed, along with the introduction of negative interest rates by several central banks (including Japan).
As per the Zacks Industry classification, the mining industry is grouped under the Basic Material sector – one of the 16 broad Zacks sectors. The 65% of the companies in this sector that have reported so far posted a 5.9% fall in earnings on the scoreboard. Considering the companies that are yet to report, the sector’s earnings are expected to drop 10.6% in the quarter.
However, it is not the only sector to suffer an earnings decline this quarter. Earnings growth is forecast to be in the negative territory for 9 of the 16 Zacks sectors, with Energy being the biggest laggard. Looking at the projected estimates for the quarter, total S&P 500 earnings are expected to be down 3.4% on the back of a 0.4% dip in revenues. It seems the quarter is on track to be the fifth quarter in a row to suffer an earnings decline. (Read more: Q2 Earnings Trends Already Established?).
Let’s see what’s in store for these miners that are set to report their quarterly figures on Aug 5.
Energy Fuels Inc. (UUUU - Free Report) , together with its subsidiaries, engages in the extraction, recovery, and sale of uranium and vanadium properties in the United States. The company is expected to report second-quarter results on Aug 5.
Hurt by low uranium prices, Energy Fuels continues to trim operating and other costs, while advancing its long-term ability to ramp up mineral extraction activities. Though prices are near multi-year lows, they are anticipated to rise.
The company delivered a negative earnings surprise of 850% last quarter. The company has an average negative earnings surprise of 243.09% over the trailing four quarters. Energy Fuels has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00% which makes surprise prediction difficult.
Pretium Resources Inc. acquires, explores and develops precious metal resource properties in the Americas. Its mineral interests consist of gold, copper and silver exploration projects. The company is likely to report second-quarter earnings on Aug 5.
The company delivered a 133.33% positive earnings surprise last quarter. The company has outpaced the Zacks Consensus Estimate in 3 of the 4 trailing quarters, with an average positive earnings surprise of 35.42%.
Pretium Resources has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00% which makes surprise prediction difficult.
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 >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Mining Stocks' Q2 Earnings Slated for Aug 5: UUUU, PVG
Alcoa, Inc. (AA - Free Report) kick-started the second-quarter earnings season with an earnings beat despite depressed aluminium prices, raising hopes in the mining sector. This sector had been racked by lower commodity prices last year. Gold and silver have been major movers this year, supported by the slowdown in China, Brexit-induced volatile equity markets and a dovish Fed, along with the introduction of negative interest rates by several central banks (including Japan).
As per the Zacks Industry classification, the mining industry is grouped under the Basic Material sector – one of the 16 broad Zacks sectors. The 65% of the companies in this sector that have reported so far posted a 5.9% fall in earnings on the scoreboard. Considering the companies that are yet to report, the sector’s earnings are expected to drop 10.6% in the quarter.
However, it is not the only sector to suffer an earnings decline this quarter. Earnings growth is forecast to be in the negative territory for 9 of the 16 Zacks sectors, with Energy being the biggest laggard. Looking at the projected estimates for the quarter, total S&P 500 earnings are expected to be down 3.4% on the back of a 0.4% dip in revenues. It seems the quarter is on track to be the fifth quarter in a row to suffer an earnings decline. (Read more: Q2 Earnings Trends Already Established?).
Let’s see what’s in store for these miners that are set to report their quarterly figures on Aug 5.
Energy Fuels Inc. (UUUU - Free Report) , together with its subsidiaries, engages in the extraction, recovery, and sale of uranium and vanadium properties in the United States. The company is expected to report second-quarter results on Aug 5.
Hurt by low uranium prices, Energy Fuels continues to trim operating and other costs, while advancing its long-term ability to ramp up mineral extraction activities. Though prices are near multi-year lows, they are anticipated to rise.
ENERGY FUELS Price and EPS Surprise
ENERGY FUELS Price and EPS Surprise | ENERGY FUELS Quote
The company delivered a negative earnings surprise of 850% last quarter. The company has an average negative earnings surprise of 243.09% over the trailing four quarters. Energy Fuels has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00% which makes surprise prediction difficult.
Pretium Resources Inc. acquires, explores and develops precious metal resource properties in the Americas. Its mineral interests consist of gold, copper and silver exploration projects. The company is likely to report second-quarter earnings on Aug 5.
PRETIUM RES INC Price and EPS Surprise
PRETIUM RES INC Price and EPS Surprise | PRETIUM RES INC Quote
The company delivered a 133.33% positive earnings surprise last quarter. The company has outpaced the Zacks Consensus Estimate in 3 of the 4 trailing quarters, with an average positive earnings surprise of 35.42%.
Pretium Resources has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00% which makes surprise prediction difficult.
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 >>