Big recent gains may bring a pause from investors
On today’s Breakouts report, there are six stocks on the positive breakouts list , most of which are gold stocks, and 127 stocks are on the negative breakouts list .
Currently, four mines are in production with a fifth gold mine expected to start-up next year. Production from a new project, Lafigué, is anticipated to begin in the third-quarter of 2024. According to a 2022 Definitive Feasibility Study, average annual production at Lafigué is expected to be 203,000 ounces with an all-in sustaining cost of US$871 per ounce and an anticipated mine life of 12.8 years.On Aug. 2, the company reported second-quarter financial results.
Looking ahead, on Nov. 9, third-quarter financial results will be released before the market opens followed by an earnings call with management. Before year-end, management is also expected to provide a resource update.The company pays its shareholders a semi-annual dividend of 40 US cents per share, or 80 US cents per share on a yearly basis. This equates to a current annualized yield of approximately 3.7 per cent.
In terms of key resistance and support levels, the share price has a major ceiling of resistance around $36.50. In terms of downside support, there is initial support around $28, near its 200-day moving average . Failing that, there is strong technical support between $24 and $26.
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