Gold Stocks A Beacon In The Dark
Gold equities have suffered from the liquidity-driven global sell-off over recent weeks but several brokers suggest the outlook is much brighter, as flight-to-safety concerns take over.
Read MoreTag: EVN
Evolution Mining Downgrades Outlook On Mt Carlton Setback
2020 is looking like being a year to forget for gold miner Evolution even as gold prices have started the year strongly and the Aussie dollar has again faded back well under 70 US cents.
Read MoreEVN – Ord Minnett rates the stock as Hold
Both production and costs were below guidance in the December quarter. The company has also flagged a potential downgrade to the resource at Mount Carlton and water security issues at Cowal.
Read MoreEvolution Receives Positive Reception For Red Lake Buy
A mostly positive reaction from the market to the late news on Tuesday from Evolution Mining revealing a big move into Canada.
Read MoreEvolution Mining Joins March North With Newmont Goldcorp Deal
Australia’s move into the North American gold mining industry continues with Evolution Mining revealing a $US375 million ($A553 million) deal with the world’s biggest gold miner, Newmont Goldcorp, to buy the latter’s Red Lake gold mining complex in Canada.
Read MoreEVN – Morgan Stanley rates the stock as Underweight
Evolution Mining will acquire Red Lake from Newmont for US$375m plus a contingent consideration of up to US$100m.
Read MoreEVN – Morgan Stanley rates the stock as Underweight
First-quarter production was weak, although grades at Cowal allowed production to be in line with Morgan Stanley’s estimates. Cost guidance for FY20 has increased to $940-990/oz.
Read MoreSniffing Out Golden Opportunities On The ASX
Bullion’s romp beyond the record $2000 an ounce level in Aussie dollar terms has prompted investors to take a closer look at the pantheon of ASX-listed local gold producers – despite some problems in the mid-tier that have tarnished the sector.
Read MoreGold Really Is Shining – My Forecasts Raised
I know this is the fifth time I am writing about gold but with the precious metal surging to fresh new multi-year highs I need to stress to readers the enormous opportunity that is being presented to investors.
Read MoreHow Great Does Gold Look?
Gold continues to perform well in US dollar terms and even better in Australian Dollar terms and the backdrop to a higher gold price is only strengthening. It, along with the “yield crunch” thematic I have discussed here all year long are my two favourite broad market trends that present an enormous opportunity for investors.
Read MoreGold Shorts: Pogo Deal Lifts Northern Star, Evolution Loses Shine
Two contrasting results from two of the country’s major medium level gold miners – Northern Star Resources and Evolution Mining.
Read MoreHigher Costs Hit Evolution Mining
Rising costs and falling production hit Evolution Mining yesterday with the shares down after the December quarter report revealed the extent of the problems.
Read MoreEVN – Credit Suisse rates the stock as Neutral
The Cowal mine in NSW has been granted regulatory approval to increase the processing rate to 9.8mtpa from 7.5mtpa.
Read MoreEVN – Morgans rates as Add
The operating earnings margin increased to 53% from 49% in FY18 while net mine cash flow was a record $540m. Costs are expected to lift slightly, with the exception of Mungari. Results were slightly below expectations.
Read MoreThe Revolution At Evolution Mining
Jake Klein, the gold entrepreneur has lead an incredible transition at Evolution Mining (ASX: EVN), and over the past four years the Company’s valuation from an Enterprise Value to EBITDA ratio has tripled from sub 3X to nearly 9X to reflect this.
Read MoreEvolution Mining Posts Solid Quarter
Shares in Evolution Mining rose 0.9% to $3.36 yesterday after it reported a solid March quarter production effort and narrowed its full year guidance range.
Read MoreTax Costs Sting Evolution Mining
Gold miner Evolution Mining has boosted shareholder returns sharply despite a 10% slide in interim to $122.5 million for the December half. Directors declared a fully franked interim dividend of 3.5 cents, up from two cents unfranked a year ago.
Read MoreEVN – UBS rates as Buy
While Evolution’s share price has been steadily rising, the broker believes momentum can continue on improving balance sheet strength and limited operational risk. A rich valuation is still below that of other gold mining peers and the broker sees Evolution outperforming.
Read MoreEVN – Citi rates as Buy
Evolution’s Dec Q production and costs were in line with the broker. The sale of Edna May reduced production but also costs, which have fallen to a new low and thus increased confidence in reaching FY18 guidance.
Read MoreEvolution Posts Strong Quarter
Gold miner Evolution has lifted production and cut costs in the September quarter, helped by a strong performance at its Cowal mine in NSW and Ernest Henry and Mt Carlton mines in Queensland.
Read MoreEvolution Divests Edna May Gold Mine
Evolution Mining trimmed its 2017-18 gold production guidance and cut its costs estimate after selling the high cost Edna May mine to Ramelius Resources for up to $90 million.
Read MoreEVN – Credit Suisse rates the stock as Outperform
Credit Suisse analysts kept their Outperform rating and $2.30 target intact post a site visit to the Ernest Henry mine operation.
Read More‘Delighted’ Evolution Mining Returns To Profit
Evolution Mining (EVN) had a series of good news announcement for the market yesterday – a return to profit, and record profit, a doubling of interim dividend and the decision to push ahead with the more than $260 million worth of spending on the expansion of its Cowal gold mine in western NSW.
Read MoreThe Revolution At Evolution Mining
Gold miners generally don’t meet our quality requirements at Montgomery. But there is one miner that has gone through a massive transformation over the past eighteen months – Evolution Mining (ASX: EVN). With a strong track record of profitable acquisitions, and a declining risk profile, we think it’s a business that’s worth a closer look.
Read MoreEVN – Credit Suisse rates the stock as Neutral
Credit Suisse observes Mt Carlton continues to excel, with FY16 production materially exceeding guidance at 113,000 ozs.
Read MoreEvolution Mining’s Expansion Draws Attention
Evolution Mining (EVN) has been elevated to Australia’s second largest gold producer with the consolidation of recently acquired assets and several brokers are upbeat about the potential.
Read MoreEvolution Mining shares outperformed in yesterday’s miserable market
Evolution Mining shares outperformed in yesterday’s miserable market, thanks to a trading update which revealed a doubling of its dividend rate after a strong performance on production and costs in the 2015-16 financial year.
Read MoreUpgrade On The Cards At Evolution
Emerging gold miner, Evolution Mining (EVN), looks set for another upgrade to its performance after the market caught up with its September quarter production and exploration update yesterday.
Read MoreThe Transition Of Evolution Mining
While gold companies generally don’t meet our quality requirements at Montgomery, I thought I would nevertheless focus on a company going through a significant transformation. Evolution Mining (ASX: EVN), led by gold entrepreneur Jake Klein, has completed two significant acquisitions in recent months.
Read MoreTwo Growth Stories In Gold
Evolution Mining (EVN) has evolved quickly, becoming the second largest gold producer on ASX in just five years and recently choosing to make some strategic acquisitions to expand its production profile. Seven gold mines form a portfolio which stretches across Australasia. In FY16, the company plans to focus on its two newest acquisitions, Cowal And Mungari, as well as its Tennant Creek JV with Emmerson Resources ((ERM)) and Puhipuhi in New Zealand.
Read MoreEVN – Credit Suisse rates the stock as Outperform
Evolution Mining has completed the acquisition of the Cowal gold mine. Credit Suisse views the purchase as overwhelmingly positive with production and mine life increasing.
Read MoreEVN – UBS rates the stock as Buy
The June quarter production numbers were in line with the broker’s forecasts. Cost guidance and FY16 production forecasts will be provided at the full year result when transactions are concluded.
Read MoreEVN – Morgans rates the stock as Add
The company has announced its third acquisition in two months, with plans to purchase the Cowal gold mine from Barrick for $694m.
Read MoreEVN – Morgans rates the stock as Add
The company has announced its third acquisition in two months, with plans to purchase the Cowal gold mine from Barrick for $694m.
Read MoreEvolution To Buy Barrick’s Cowal Gold Mine
Evolution Mining (EVN) has surprised by winning the bidding for Barrick Gold’s rich Cowal gold mine in central NSW for $US550 million (or $A704 million).
Read MoreEvolution Dreams The Impossible Dream
Gold producer Evolution Mining (EVN) has struck a deal with La Mancha, issuing new shares and taking on some debt in return for La Mancha’s Western Australian assets. These assets include Frog’s Leg, which produces around 100,000 ounces per annum, White Foil, which produces around 40,000, and the Mungari plant. The additions will lift Evolution Mining’s production to around 600,000 ounces per annum.
Read MoreEVN – Macquarie rates the stock as Outperform
The company’s March quarter production was 4.0% below Macquarie’s forecasts. Free cash flow was significantly higher than expected, which enabled Evolution Mining to make an early debt repayment.
Read MoreEVN – Credit Suisse rates the stock as Neutral
FY14 profit was below the broker’s forecast. The company has forecast modest improvement in FY15 with a focus on improving the disappointing Pajingo and Edna May assets.
Read MoreEVN – CS rates the stock as Underperform
Credit Suisse has reviewed FX and commodity forecasts. Gold price assumptions are largely unchanged while copper price forecasts have been marginally revised higher.
Read More