Please comment on Q1 earnings and is it a buy at these price?
Thanks, George
EPS of 5c missed estimates of 6.7c; revenue of $243.9M beat estimates of $232.5M. EBITDA of $97.9M beat estimates by 2.5%. EPS rose from a loss of 6c in the prior year period. Production of 3.7M ounces largely matched estimates of 3.74M. Cash is $462M, net about $200M. The dividend, which varies with earnings, was cut by 6%. Cash flow was a record $110M. Production cash costs fell to $13.68 an ounce from $15.00. All in costs were $19.24, an improvement of 11%. We would consider these results OK. While a 'miss, the metrics of what the company can control (costs, production) remain good. We would consider the shares buyable for sector players.