Wednesday, February 17, 2010

Barrick Gold (TSE:ABX), Goldcorp (TSE:G), Kinross Gold (TSE:K) Should Generate Strong Fourth-quarter Profits

Barrick Gold, Goldcorp, Kinross Gold

The top three Canadian mining companies, Barrick Gold (TSE:ABX), Goldcorp (TSE:G) and Kinross Gold (TSE:K), are all expected to announce strong profits in the fourth quarter, with estimates for Barrick Gold and Goldcorp expected to double from the year before, and Kinross looking for an increase in earnings of around 75 percent.

The companies have just about everything going for them at this time, as precious metal prices continue to rise, gold bullion is rising, and the cost of doing business has been managed well by the three.

It doesn't hurt that the price of gold hit highs during the quarter either.

Even so, the even better news is the companies managed costs very well during this time, which ultimately be the deciding factor in how high the earnings will be for them.

The cost margin was a hefty $652 an ounce, a strong increase over the third quarter, which stood at $504 an ounce.

Barrick Gold, Goldcorp, Kinross Gold


Gold Bullion said...

As a person who is very much concern about my gold investments, it is always important to seek updates about world's economic and gold conditions. So, thank you for letting us know about this.

Gold Coins said...

Thanks for the information, we will add this story to our blog, as we have an audience in the gold industry that loves reading like this.

Anonymous said...

Come on. Seriously? Get rid of the fucking sock puppets.