Orlando, FL -- (SBWIRE) -- 08/29/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On AuRico Gold Inc(NYSE:AUQ), Eldorado Gold Corp (USA)(NYSE:EGO).
AuRico Gold Inc(NYSE:AUQ) shares fell 3.82% to $4.53. The company released its earnings data on August 9. The company reported $0.02 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.02. The company had revenue of $57.66 million for the quarter, compared to the consensus estimate of $53.51 million. During the same quarter last year, the company posted $0.08 earnings per share. AuRico Gold’s revenue was up 110.0% compared to the same quarter last year.
Mr. Alan Edwards was appointed non-executive Chairman of the Board effective July 1, 2013. Mr. Edwards was appointed as an independent director on May 13, 2010.
Additionally, The Company's quarterly dividend payment of $0.04 per share for the second quarter was paid on July 29, 2013. The Company also introduced an optional dividend reinvestment plan to acquire additional common shares by reinvesting cash dividends.
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Eldorado Gold Corp (USA)(NYSE:EGO) shares decreased 3.06% to $8.56. The company, on August 2, reported financial and operational results for the second quarter ended June 30, 2013. Profit attributable to shareholders of the Company for the quarter was $43.3 million or $0.06 per share compared to $46.6 million or $0.07 per share for the same quarter in 2012. Gold production of 183,971 ounces at an average cash operating cost of $478 per ounce (Q2 2012 gold production - 140,694 ounces at $480 per ounce).
Looking forward, the Company modified its operating plan for 2013. Exploration spending for 2013 has been reduced from $98.5 million to $51.0 million with an emphasis on mine site and brownfields exploration. Capital spending has been revised down from $670.0 million to $430.0 million. Gold production for 2013 is forecast to be 745,000 ounces of gold with cash costs of $520/oz. This is in line with original guidance provided of 705,000 - 760,000 ounces at cash costs of $515-530/oz.
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