Net earnings for New Gold (TSX: NGD) surged in 2016, reaching US$2.7 million from a loss of US$201.4 million in the 2015 period due to higher gold and silver prices and higher copper sales volumes. This was offset by operating troubles at the company’s Rainy River concession in Ontario, Canada.
Revenues dropped to US$683.8 million, […]Read more... →
Gold mining giant Agnico Eagle (NYSE:AEM, TSX:AEM) enjoyed a solid 2016 in terms of production, revealing full-year output of 1.6 million gold ounces. The Toronto-based company also increased gold reserves by 5 percent to 19.9 million ounces, and revealed plans to increase that figure to 2 million by 2020 after the Amaruq and Meliadine projects […]Read more... →
Capstone Mining recorded a net loss of US$197.4 million for 2016, an improvement on the net loss of US$251.5 million it reported for 2015. This was caused by a loss on commodity derivatives and the disposal of equipment and mineral property interests among other factors. Revenue additionally increased 26 percent, to US$529.4 million in 2016 […]Read more... →
In 4Q16, Goldcorp reported net earnings of US$101 million, up from the US$4.3 billion net loss it recorded in the fourth quarter of the previous year. The improved position is due to the company’s effort to decentralize its business.
This was effective in “significantly reducing operating costs, selling non-core assets and reinvesting that capital into […]Read more... →
Sierra Metals’ net income jumped 129 percent in 2016, reaching US$17.2 million compared to US$7.5 million in 2015, the company announced in its report on Wednesday. This was a result of increased revenues generated by operational improvements and record production levels.
Revenues increased 21 percent in 2016 to US$97.3 million compared to US$80.1 in 2015. […]Read more... →
Net income for Pan American Silver (TSX: PAAS) shot up in 2016, reaching US$101.8 million from a net loss of US$231.6 million for the corresponding 2015 period. This was a result of increased revenue, lower costs and the sale of its shares in the Shalipayco project in Peru.
Revenues for the year reached US$774.8 […]Read more... →
Marlin Gold Posted Record Production at La Trinidad in January.
Alamos Gold completed its previously announced US$250 million bought-deal financing, while Fortuna Silver closed a similar deal worth US$74.8 million.
Cummins’ net income remained stable in 2016, dropping only slightly to US$1.394 billion from US$1.399 billion in 2015, according to figures released by the company in its annual report. This was due to the negative impact on revenues from a strong US dollar, which in turn was mitigated by increased revenues in China.
Net sales […]Read more... →
Bearings manufacturer Timken (NYSE: TKR) reported a marked drop in sales in the last quarter of 2016 as the company continued to suffer from weak demand across most markets.
Net sales fell 8.3 percent to US$655 million in 4Q16 from US$714 million during the same period a year ago, contributing to a 25 percent drop […]Read more... →
Coeur Mining posted a staggering jump in net income for 2016 to US$55.4 million, up from a loss of US$367 million in 2015. This was a result of the operator’s continued efforts to streamline operations, reduce administrative costs, reduce debt and divest non-key assets.
“2016 marked a key inflection point for Coeur,” said Read more... →