Gold Miners Still Can’t Get Earnings Right; Still Life in Newmont-Barrick Merger?
By Ben Levisohn
Earnings from Yamana Gold (AUY) and Barrick Gold (ABX), as well as the death of the merger between Barrick and Newmont Mining (NEM), are weighing on gold miners this morning.
Barrick Gold reported a profit of 20 cents a share, beating forecasts for 19 cents a share, on sales of $2.63 billion. Analysts had expected $2.6 billion. Barrick also lowered its copper guidance. No mention was made of a merger with Newmont Mining in Barrick’s press release.
Yamana Gold, meanwhile, reported a profit of 2 cents a share, missing forecasts for 4 cents. It said it will focus on its Canadian and Argentine operations.
Morgan Stanley’s Brad Humphrey and
Article source: http://blogs.barrons.com/stockstowatchtoday/2014/04/30/gold-miners-still-cant-get-earnings-right-still-life-in-newmont-barrick-merger/?mod=BOLBlog
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