Goldcorp Inc.

Goldcorp is now the world's lowest-cost, million-ounce gold producer. The acquisition of Wheaton River Minerals Ltd. has increased gold production, gold reserves and resources and given the company one of the fastest growth curves in the industry. It has strengthened Goldcorp's already solid balance sheet and lowered production costs per ounce even further. Goldcorp is in excellent financial condition. It has no debt, a large treasury, strong cash flow and earnings and pays a dividend 12 times per year. Goldcorp is completely unhedged.

Expert Comments:

Tony Lesiak, Canaccord Genuity (11/19/15)
"Goldcorp Inc. recorded yet another record gold production quarter in Q3/15, producing 922 Koz, ~30 Koz ahead of our estimate. . .the company continues to expect to be at the higher end of its 3.3–3.6 Moz production guidance."

Andrew Kaip, BMO Capital Markets (10/29/15)
"Goldcorp Inc. reported Q3/15 production of 922 Koz gold at all-in sustaining cost (AISC) of $848/oz, versus our expectations of 878 Koz and AISC of $860/oz. . .adjusted operating and free cash flow came in at $374M and $243M, respectively, above our expectations of $350M and $40M. . .stronger production and lower capital expenditures translated to better than expected free cash flow. . .at Penasquito, gold production appears to be tracking to exceed guidance of 700–750 Koz, and the company expects to complete the metallurgical enhancement project feasibility study in early 2016. . .Cerro Negro also continues to outperform."

Barry Allan, Mackie Research Capital (10/29/15)
"Goldcorp Inc.'s Q3/15 production of 922.2 Koz at $597/oz exceeded our forecast of 820.9 Koz, but costs were in-line with $581/oz. On closer examination, the production beat was largely due to exceptional results from the large Penasquito mine in Mexico, where quarterly production was 236.8 Koz, some 54.1 Koz better than we had expected. Also, new Eleanore and Cerro Negro mines did well, exceeding our expectation."

Canaccord Genuity's Morning Coffee (10/7/15)
"Goldcorp Inc. announced that all work activity has resumed on Oct. 5 at its wholly owned Cerro Negro mine, located in the Santa Cruz province of Argentina, following the declaration of a mandatory 15-day conciliation period by the Santa Cruz Provincial Secretariat of Labor. . .the company's gold production at Cerro Negro in 2015 is expected to be 415,000–465,000 oz."

Stephen Walker, RBC Capital Markets (9/22/15)
"Goldcorp Inc.'s 2015 gold production is guided to increase by ~20% year-over-year (YOY) to 3.3–3.6 Moz with the addition of production from Eleonore and Cerro Negro. . .Goldcorp has completed the major capital spend associated with development of Eleonore and Cerro Negro, which should result in a ~$1B YOY decrease in capex in 2015 to $1.2–1.4B, supporting the generation of free cash flow down to $1,100/oz gold."

Phil Russo, Raymond James (9/11/15)
"We attended Goldcorp Inc.'s Éléonore tour in Quebec. An overall positive trend for the mine remains evident as underground tonnage and throughput rates show solid performances; we believe this can be sustained in line with the expected ongoing increases in underground tonnages as the mine works toward optimal design of 7 Ktpd in 2018 (today ~5 Kptd)."

More Expert Comments

Experts Following This Company

Randall Abramson, Fund Manager – Trapeze Asset Management
Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
Barry Allan, Vice Chair of Mining Group, and Senior Mining Analyst – Mackie Research Capital
Sam Crittenden, Research Analyst – RBC Capital Markets
Adrian Day, Founder – Adrian Day Asset Management
Richard Gray, Analyst – Cormark Securities
Michael Gray, Analyst – Macquarie Capital Markets
Jeb Handwerger, Author Gold Stock Trades
David Haughton – CIBC World Markets
Louis James, Analyst – Casey Research
Andrew Kaip, Analyst – BMO Capital Markets
John Kaiser, Editor and Publisher – Kaiser Research Online
Alec Kodatsky – CIBC World Markets
Tony Lesiak – Canaccord Genuity
Kevin MacKenzie, Analyst – Salman Partners
Chris Mancini, Research Analyst – Gabelli Gold Fund
Brad Mills, Fund Manager/CEO – Plinian Capital
David Morgan, Publisher – Silver Investor
Bob Moriarty, Author 321 Gold
Phil Russo, Research Associate – Raymond James
Chris Thompson, Mining Analyst – Raymond James
Stephen Walker, Analyst – RBC Capital Markets
Josh Wolfson, VP, Senior Analyst Gold & Precious Metals – Dundee Capital Markets

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.