Wußte (noch) gar nicht, daß Goldcorp. alles phys. Gold verkauft hat...

verfasst von spieler, 22.12.2003, 09:41

-->Irgendwie bekomme ich in der Vorweihnachtszeit gar nichts mehr mit... Ist ja wohl ein sehr negatives Zeichen, oder?


Reuters
UPDATE - Goldcorp sells gold stash, bullion, stock fall
Wednesday December 10, 6:27 pm ET
By Nicole Mordant


(Adds Goldcorp comment, closing share price. Amounts in U.S. dollars unless noted)
VANCOUVER, British Columbia, Dec 10 (Reuters) - Goldcorp Inc. (Toronto:G.TO - News) handed investors a double-edged sword Wednesday, announcing an unexpected dividend, but the stock and bullion tumbled because the payout will be funded by the sale of its gold stash.

Arguing that gold is money, price bull Goldcorp had built up a pile of nearly 270,000 ounces of bullion over the past two years by holding back some of its own mined metal as well as buying on the open market.

But on Wednesday the company said that since September, it had sold the entire cache, an amount equal to the annual output of a mid-sized miner, to take advantage of strong prices.

Goldcorp was emphatic that gold was not yet near its peak and that it was once again hoarding, but analysts said the sale might send a signal to the market that the Toronto-based gold miner believed bullion had topped out.

"In my opinion, the market should have expected this. But does it send a bearish signal? Probably," said Haytham Hodaly, an analyst at Salman Partners in Vancouver.

Bullion, which set multiyear highs on Wednesday of more than $410 an ounce, fell after Goldcorp.'s announcement.

Spot gold closed at $405.80 in New York, hurt also by a lack of further gains in the euro against the U.S. dollar. A stronger euro makes dollar-priced gold cheaper to buy.

Goldcorp's stock tumbled along with bullion. It ended down C$1.29, or nearly 6 percent, at C$21 on the Toronto Stock Exchange (News - Websites), on a gold board bathed in red and down 6 percent.

REBUILDING ARSENAL

The firm, which in the past liked to trumpet that it owned more gold than the Bank of Canada, said it had already begun to rebuild its gold inventory and would again hold back 10 percent of production as it believes bullion will rise more.

"If we truly believed gold was going down we wouldn't be doing this," said Chris Bradbrook, Goldcorp's corporate development director.

The gold sales demonstrated Goldcorp's hold, buy and sell program could boost value for shareholders through higher earnings and dividends, he said.

Calling it a"holiday gift," Goldcorp said investors would be rewarded with a special dividend of 10 cents a share paid from the $40 million in pretax profit the gold sale garnered.

The sale will add 13 cents a share, after tax, to earnings this year, the company said.

"As a result of our strategy, we are now forecasting both earnings growth and record earnings for 2003," Goldcorp said.

The firm, which mines most of its gold from the rich Red Lake deposit in Ontario, said it had sold the gold at an average price of $388 an ounce this quarter.

That was $72 an ounce more than it would have received if it had sold the metal at the time it was produced.

"Gold is in a bull market and we aren't going to impact it," Bradbrook said."We are there as a gold company and are going to benefit from it."

($1=$1.31 Canadian)

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gesamter Thread:

• Wußte (noch) gar nicht, daß Goldcorp. alles phys. Gold verkauft hat... - spieler, 22.12.2003, 09:41
  • hört, hört... - - Elli -, 22.12.2003, 09:46
    • Elli,da gebe ich Dir recht, das klingt wirklich nicht gut Emerald,was meinst Du? - spieler, 22.12.2003, 09:49
      • Wenn ich mein Depot anschau, scheine ich bereits die besten VK-Zeiten verpaßt... - Amber, 22.12.2003, 10:00
  • Und CEO Rob McEwen hat 40& seiner Goldcorp-Aktien verkauft... - Nachfrager, 22.12.2003, 10:09
    • Re: Goldcorp-Aktien - ich würde die News mal nicht überbewerten - Toni, 22.12.2003, 10:53