Q: Please comment on the yesterday release of quarterly earnings and future growth of stock price. Thank you
5i Research Answer:
EPS of $0.05 missed expectations of $0.0656 and revenues of $477.89M missed expectations of $484.68M. Gold production was 242.8K ounces in the quarter, with expectations of an increase in Q4. Its AISC were lower than annual guidance ranges, which is a positive, and its Goose project construction was on budget. It remains on track to meet its 2023 total gold production forecast, Its gross profit improved significantly, however, it incurred higher operating expenses due to impairments and foreign exchange losses. Its cash from operations remains strong and its balance sheet is in good shape. This was an OK quarter, and we feel much will depend on the price of gold, although production is moving in the right direction.