'Mad Money' Spotlight: Cramer's Gold Producers
Several gold-mining concerns drew the attention of Jim Cramer during his "Mad Money" program Thursday evening.
Eldorado Gold(EGO Quote) and Agnico-Eagle Mines(AEM Quote) received his bullish imprimatur,Newmont Mining(NEM Quote) his bearish. So what are these shiny little nuggets in the bottom of his pan? Eldorado, a Canadian producer, owns big mines in Turkey and China. Its trailing 12-month revenue is about $250 million. In the latest quarter, it posted per-share earnings of 4 cents, missing expectations by a penny. Its shares have tracked higher year-to-date by about 15%, on the back of (like all gold producers) gold prices that have been tickling the $1,000 mark. In Friday trading, the stock was changing hands at $8.78, down 4% from the previous session. Agnico-Eagle Mines, another Canadian producer, brought in revenue over the last 12 months of about $360 million. It takes much of its gold out of the ground in Quebec. In April, the company posted earnings growth of 75%, mostly the result of a gain in previously paid taxes, and trimmed its production estimates for the year to a range between 550,000 and 575,000 ounces. Its stock is up 10% on the year, and was trading Friday at $54.44, down 3.9%. Newmont Mining, lastly (and according to Cramer leastly), is among the world's largest gold producers. Based in Colorado, the company has mines all over the world and trailing 12-month revenue of $5.8 billion. Newmont's latest quarterly results were better than expected, though a steep drop (48%) from a year ago. Newmont stock has trailed its peers, rising by a little more than 9% year-to-date. Friday afternoon, the stock was trading at $45.21, down 3.6%.- Loading Comments...
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