AuRico Gold Earnings: Here’s Why Investors are Ambivalent Now
AuRico Gold Inc (NYSE:AUQ) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
AuRico Gold Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 71.43% to $0.02 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Decreased 28.94% to $57.66 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AuRico Gold Inc reported adjusted EPS income of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.02. It beat the average revenue estimate of $51.9 million.
Quoting Management: “With another quarter of solid results reported from both operations we continue to demonstrate the potential of our high quality asset base. The mid-shaft crushing and hoisting system is progressing on schedule and remains on target to commission during September. The shaft and hoisting system is the key catalyst that will drive significant improvements in underground productivities and further cost efficiencies,” stated Scott Perry , President and Chief Executive Officer. He continued, “With quality operations, a strong cash position and a fully-funded growth profile, the Company is well positioned for success even in this challenging market environment.”
Key Stats (on next page)…