Gold Mining Stocks Face ‘Fat Pitch’ Opportunity as Earnings Loom
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Record-setting gold prices may have created bullish investment opportunities in gold miners but their appeal will be put to the test this earning season as investors scrutinize their ability to stay disciplined.
Gold producers are set to release second-quarter results, starting with Agnico Eagle Mines Ltd. Wednesday afternoon and Newmont Corp. Thursday morning. Analysts see adjusted earnings per share of 15 cents at Agnico, according to data compiled by Bloomberg. That would represent about a 50% increase from a year earlier. At Newmont, analysts see 31 cents, or a jump of 158%.