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Precious Metal Earnings Queued for Aug 11: RGLD, PAAS, SA, PGLC
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Curtains on the second-quarter earnings season are soon going to fall, with 433 S&P 500 members having reported their results. These companies that account for 87.7% of the index’s total market capitalization have reported a 4.1% drop in earnings. Even though earnings growth remains in the red, it is an improvement over the preceding quarter as well as the average growth pace logged by these companies in the preceding four quarters.
As per the Zacks Industry classification, precious metal stocks come under the Basic Material sector – one of the 16 broad Zacks sectors. Thus far, this sector has put up an 11.8% decline in earnings on the scoreboard for the season. Given that 95% of the companies have declared their results, the fate of the sector seems to have already been determined. The handful of the companies that are remaining will not be game changers, considering the overall sector’s earnings are expected to drop 11.7% in the quarter, as per our projections.
However, it is not the only sector to suffer an earnings decline this quarter. Earnings growth is anticipated to be in the negative territory for 6 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 3.5% on the back of a 0.4% dip in revenues. The quarter is on track to be the fifth quarter in a row to suffer an earnings decline (read more: Retail Sector's Disappointing Q2 Earnings Season).
Let’s see what’s in store for these miners that are set to report quarterly numbers on Aug 11, 2016.
Royal Gold, Inc. (RGLD - Free Report) is a precious metals royalty and stream company, engaged in the acquisition and management of precious metal royalties, streams and similar production based interests. Royal Gold’s fourth-quarter fiscal 2016 results will be released before the market opens for trading on Aug 11.
Last quarter, the company had delivered a positive earnings surprise of 16%. It has an average negative earnings surprise of 9.15% in the last four quarters.
Royal Gold recently announced that it has sold approximately 52,500 gold ounces and 208,900 silver ounces related to its streaming agreements during its fourth-quarter fiscal 2016. The company had 19,800 gold ounces and 323,700 silver ounces in inventory as of Jun 30. Stream segment sales were relatively flat and inventory increased slightly as compared to the prior quarter. Though a favorable Zacks Rank #1 (Strong Buy) increases the predictive power of the Earnings ESP, the company’s ESP of -3.13% makes surprise prediction difficult.
Pan American Silver Corp. (PAAS - Free Report) , along with its subsidiaries, operates and develops, and explores silver. The company has seven operating mines in Mexico, Peru, Argentina and Bolivia, as well as a portfolio of exploration and development projects in the Americas. It will report second-quarter figures on Aug 11 after market close.
Last quarter, the company had delivered a positive earnings surprise of 166.67%. The stock has an average positive earnings surprise of 36.36% over the trailing four quarters.
The company’s two expansion projects at La Colorada and Dolores are advancing on schedule and on budget funded by its strong balance sheet. Meanwhile, it is progressing steadily toward becoming an even lower-cost producer. The stock’s Earnings ESP of 0.00% and a Zacks Rank #2 (Buy) makes surprise prediction difficult.
Seabridge Gold, Inc. (SA - Free Report) engages in the acquisition and exploration of gold properties located in North America. It also explores for copper and silver ores.
Seabridge Gold’s Deep Kerr project has taken its place among the world’s largest gold copper deposits. For the remainder of 2016, the company will conduct a further exploration and drilling program at KSM and analysis of previous drilling including relogging to enhance the current resource models. The company’s Earnings ESP of 0.00% and a Zacks Rank #3 (Hold) make surprise prediction difficult.
Pershing Gold Corporation engages in the exploration, development, and mining of gold and precious metals, primarily in Nevada and is expected to report second-quarter scores on Aug 11.
The company posted a negative earnings surprise of 200% last quarter. It has an average positive earnings surprise of 100% over the trailing four quarters.
The company’s Earnings ESP of 0.00% and a Zacks Rank #3 make surprise prediction difficult.
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Precious Metal Earnings Queued for Aug 11: RGLD, PAAS, SA, PGLC
Curtains on the second-quarter earnings season are soon going to fall, with 433 S&P 500 members having reported their results. These companies that account for 87.7% of the index’s total market capitalization have reported a 4.1% drop in earnings. Even though earnings growth remains in the red, it is an improvement over the preceding quarter as well as the average growth pace logged by these companies in the preceding four quarters.
As per the Zacks Industry classification, precious metal stocks come under the Basic Material sector – one of the 16 broad Zacks sectors. Thus far, this sector has put up an 11.8% decline in earnings on the scoreboard for the season. Given that 95% of the companies have declared their results, the fate of the sector seems to have already been determined. The handful of the companies that are remaining will not be game changers, considering the overall sector’s earnings are expected to drop 11.7% in the quarter, as per our projections.
However, it is not the only sector to suffer an earnings decline this quarter. Earnings growth is anticipated to be in the negative territory for 6 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 3.5% on the back of a 0.4% dip in revenues. The quarter is on track to be the fifth quarter in a row to suffer an earnings decline (read more: Retail Sector's Disappointing Q2 Earnings Season).
Let’s see what’s in store for these miners that are set to report quarterly numbers on Aug 11, 2016.
Royal Gold, Inc. (RGLD - Free Report) is a precious metals royalty and stream company, engaged in the acquisition and management of precious metal royalties, streams and similar production based interests. Royal Gold’s fourth-quarter fiscal 2016 results will be released before the market opens for trading on Aug 11.
Last quarter, the company had delivered a positive earnings surprise of 16%. It has an average negative earnings surprise of 9.15% in the last four quarters.
ROYAL GOLD INC Price and EPS Surprise
ROYAL GOLD INC Price and EPS Surprise | ROYAL GOLD INC Quote
Royal Gold recently announced that it has sold approximately 52,500 gold ounces and 208,900 silver ounces related to its streaming agreements during its fourth-quarter fiscal 2016. The company had 19,800 gold ounces and 323,700 silver ounces in inventory as of Jun 30. Stream segment sales were relatively flat and inventory increased slightly as compared to the prior quarter. Though a favorable Zacks Rank #1 (Strong Buy) increases the predictive power of the Earnings ESP, the company’s ESP of -3.13% makes surprise prediction difficult.
Pan American Silver Corp. (PAAS - Free Report) , along with its subsidiaries, operates and develops, and explores silver. The company has seven operating mines in Mexico, Peru, Argentina and Bolivia, as well as a portfolio of exploration and development projects in the Americas. It will report second-quarter figures on Aug 11 after market close.
Last quarter, the company had delivered a positive earnings surprise of 166.67%. The stock has an average positive earnings surprise of 36.36% over the trailing four quarters.
PAN AMER SILVER Price and EPS Surprise
PAN AMER SILVER Price and EPS Surprise | PAN AMER SILVER Quote
The company’s two expansion projects at La Colorada and Dolores are advancing on schedule and on budget funded by its strong balance sheet. Meanwhile, it is progressing steadily toward becoming an even lower-cost producer. The stock’s Earnings ESP of 0.00% and a Zacks Rank #2 (Buy) makes surprise prediction difficult.
Seabridge Gold, Inc. (SA - Free Report) engages in the acquisition and exploration of gold properties located in North America. It also explores for copper and silver ores.
SEABRIDGE GOLD Price and EPS Surprise
SEABRIDGE GOLD Price and EPS Surprise | SEABRIDGE GOLD Quote
Seabridge Gold’s Deep Kerr project has taken its place among the world’s largest gold copper deposits. For the remainder of 2016, the company will conduct a further exploration and drilling program at KSM and analysis of previous drilling including relogging to enhance the current resource models. The company’s Earnings ESP of 0.00% and a Zacks Rank #3 (Hold) make surprise prediction difficult.
Pershing Gold Corporation engages in the exploration, development, and mining of gold and precious metals, primarily in Nevada and is expected to report second-quarter scores on Aug 11.
The company posted a negative earnings surprise of 200% last quarter. It has an average positive earnings surprise of 100% over the trailing four quarters.
PERSHING GLD CP Price and EPS Surprise
PERSHING GLD CP Price and EPS Surprise | PERSHING GLD CP Quote
The company’s Earnings ESP of 0.00% and a Zacks Rank #3 make 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 >>
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