Investment Q&A

EPS of 14c missed estimates of 19c; revenue of $333M missed estimates of $367M. EBITDA of $145.4M missed estimates by 22%. Gold production was weaker than expected, and higher costs at the Young-Davidson mine also contributed to the weakness vs expectations. Stock-based expenses were also higher. Still, the company did confirm guidance for 2025 production. The company also noted costs should decrease in the second half of the year. Production fell 7.9% year over year. Not great news, but we think the 14% stock decline reflects the situation in hand. We would remain comfortable holding this, considering the small dividend, OK valuation, and debt-free balance sheet. The stock is (still) up 66% in a year and profit-takers are likely making today's decline worse than it might have been otherwise.