AuRico Gold Inc (NYSE:AUQ) Moves Up Smartly

Posted by Chris Bell October 16, 2013 0 Comment 898 views

In Tuesday’s trading, AuRico Gold Inc (NYSE:AUQ) rose by 8.38%. The opening price of the shares was $3.55, which climbed to an intraday high of $3.91 and dipped to a close of $3.88. Approximately 3.77 million shares were traded on Tuesday while an average volume of 3.59 million shares were traded over a 30 day period. The 52-week low of AuRico Gold Inc (NYSE:AUQ) shares is $3.46 and its 52-week high is $8.53. The company has a market capitalization of $958.75 million.

Production results

AuRico Gold Inc (NYSE:AUQ) climbed to its highest in over 3 weeks after it reported Q3 production and cash-costs results that were on par with its guidance for the year. In 2013 alone, the company’s stock has dropped by 51% and brought down the company’s market capitalization to $958.75 million.

The company that is based in Toronto released its preliminary Q3 production-results that put the output of gold in this quarter at 143,075 ounces while the cash costs stood at $639/ounce. The company has projected 190,000-220,000 ounces at cash-costs of $565-$645/ounce for the year.

In line with projections

As per the company’s statement, on 17 September, the company’s board announced a quarterly dividend-payment of 4 cents/share for the Q3 that ended on 30 Sept and is payable on 29 October to shareholders on record at close of business on 11 October.

Scott Perry, the Company’s Chief Executive officer said that the company is in a good position to deliver its q-o-q productivity-improvements in the future and is on target with meeting its cash and production costs guidance of the full year.

About the company

The Canada-based AuRico Gold Inc (NYSE:AUQ) is a gold producer. The company has numerous mines and projects in the North American region. AuRico Gold Inc (NYSE:AUQ) and its various subsidiaries are involved in mining, developing, exploring, and acquiring resource properties.

About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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