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Precious Metal Stocks' Earnings Lined Up: MAG, GSV, TGD, ASM

This year, gold and silver have been major movers among precious metals. Worries over the global economy, Brexit-induced volatile equity markets, the U.S. Federal Reserve’s move to maintain steady interest rates and the introduction of negative interest rates by several central banks boosted growth of these safe-haven assets.

As per the Zacks Industry classification, the precious metal stocks come under the Basic Material sector – one of the 16 broad Zacks sectors. All the S&P members in this sector have reported their results for this season, with a scorecard of an 11.6% decline in earnings.

Overall, the 454 S&P 500 members that account for 92.1% of the index’s total market capitalization have reported a 3.7% dip in earnings in the second quarter. Though earnings growth has been in the red, it has improved over the first quarter as well as the average growth pace logged by these companies in the preceding four quarters.

Earnings growth is anticipated to be in the negative territory for 6 of the 16 Zacks sectors, with Energy being the obvious biggest drag. Looking at the projected estimates for the quarter, total S&P 500 earnings are expected to be down 3.4% on the back of a 0.4% dip in revenues - the fifth quarter in a row to suffer an earnings decline. (Read more: Q2 Earnings Season Scorecard).

Let’s see what’s in store for these miners that are set to report quarterly numbers in the coming days.

MAG Silver Corp. MAG focuses on acquiring, exploring, and development of district scale projects located primarily in the Mexican Silver Belt. It explores for copper, gold, silver, lead, and zinc deposits. MAG Silver’s second-quarter fiscal 2016 results will be released on Aug 12.

MAG SILVER CORP Price and EPS Surprise

MAG SILVER CORP Price and EPS Surprise | MAG SILVER CORP Quote

Last quarter, the company had delivered a positive earnings surprise of 33.33%. It has an average negative earnings surprise of 60.42% in the last four quarters.

Currently, the company is developing the underground decline towards the high grade Valdecañas and Juanicipio silver veins in Zacatecas State. In addition, exploration continues within the Juanicipio joint venture, while the company is concurrently working on regaining surface access to its fully owned Cinco de Mayo property in Chihuahua, Mexico.

The stock’s Earnings ESP of 0.00% and a Zacks Rank #3 (Hold) make surprise prediction difficult.

Gold Standard Ventures Corp GSV – an exploration stage company – engages in the acquisition and exploration of gold-bearing mineral resource properties in Nevada, U.S. It is expected to reveal its second-quarter figures on Aug 12.

GOLD STD VENTRS Price and EPS Surprise

GOLD STD VENTRS Price and EPS Surprise | GOLD STD VENTRS Quote

The stock’s Earnings ESP of 0.00% and a Zacks Rank #3 make surprise prediction difficult.

Timmins Gold Corp. TGD engages in the acquisition, exploration, development, and operation of mineral resource properties in Mexico. It will report its second- quarter results before the market opens on Aug 12.

TIMMINS GOLD Price and EPS Surprise

TIMMINS GOLD Price and EPS Surprise | TIMMINS GOLD Quote

Last quarter, the company had delivered a negative earnings surprise of 100.00%. It has an average negative earnings surprise of 66.67% over the past four consecutive quarters.

Timmins Gold recently reported preliminary production results for the second quarter. The company achieved production of 25,863 gold ounces for the quarter – a 13% year over year growth. It has successfully implemented multiple cost reductions this year and will continue to look to drive costs lower and increase operational efficiencies.

The stock’s Earnings ESP of 0.00% and a Zacks Rank #3 make surprise prediction difficult.

Avino Silver & Gold Mines Ltd. ASM engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. It is scheduled to release second-quarter scores on Aug 15, after the market closes.

AVINO SILVER&GD Price and EPS Surprise

AVINO SILVER&GD Price and EPS Surprise | AVINO SILVER&GD Quote

The company posted a negative earnings surprise of 100% in the last quarter. It has an average negative earnings surprise of 102.78% over the trailing four quarters.

Avino recently declared that it has produced 629,780 silver equivalent ounces in the second quarter. The stock’s Earnings ESP of 0.00% and a Zacks Rank #3 make surprise prediction difficult.

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GOLD STD VENTRS (GSV): Free Stock Analysis Report
 
TIMMINS GOLD (TGD): Free Stock Analysis Report
 
AVINO SILVER&GD (ASM): Free Stock Analysis Report
 
MAG SILVER CORP (MAG): Free Stock Analysis Report
 
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