On Monday, Shares of Eldorado Gold Corp (USA) (NYSE:EGO), gained 5.29% to $3.68.
Eldorado Gold Corporation, reports gold production of 183,226 ounces (Q3 2014 192,578 per ounce) with average cash costs of $552 per ounce (Q3 2014 $488 per ounce). Adjusted net loss for the quarter was $4.0 million ($0.01 loss per share) contrast to a $36.1 million profit ($0.05 per share) in Q3 2014.
Third Quarter Highlights
Gold revenues were $206.2 million (2014 – $241.2 million) on sales of 182,124 ounces of gold at an average realized gold price of $1,132 per ounce (2014 – 189,321 ounces at $1,274 per ounce).
Loss attributable to shareholders of the Company was $96.1 million ($0.13 loss per share), contrast to net profit attributable to shareholders of the Company of $19.8 million ($0.03 per share) in the third quarter of 2014.
The Company recorded non-cash charges totaling $84.4 million to income tax expense counting $63.5 million related to an improvement in the corporate income tax rate in Greece, and $20.9 million related to the impact of foreign currency movements on the valuation of the Companys tax basis of assets in Turkey, China and Brazil.
Liquidity of $763.8 million, counting $388.8 million in cash, cash equivalents and term deposits, and $375.0 million in undrawn lines of credit.
Eldorado Gold Corporation, together with its auxiliaries, engages in the exploration, discovery, development, production, and reclamation of gold properties, primarily in Brazil, China, Greece, Turkey, and Romania.
Shares of Olin Corporation (NYSE:OLN), inclined 1.56% to $19.48, during its last trading session.
Olin Corporation, declared that its third quarter 2015 income from ongoing operations was $5.9 million, or $0.08 per diluted share. The third quarter of 2014 income from ongoing operations was $26.1 million, or $0.33 per diluted share. Sales in the third quarter of 2015 were $533.6 million contrast to $593.6 million in the third quarter of 2014. Third quarter 2015 results comprised pretax acquisition-related financing and other costs of $22.2 million.
Joseph D. Rupp, Chairman and Chief Executive Officer said, On October 5, 2015, we accomplished the acquisition of Dows chlorine products businesses. Olin is now the worlds largest integrated chlor-alkali, epoxy and chlorinated organics producer with top-tier, low-cost facilities. The acquisition has significantly diversified our product and geographic base, which will enable us to be less cyclical. With the integration work we have accomplished since the closing, we remain convinced that the New Olin can generate $1 billion of annual adjusted EBITDA, without synergies. Our synergy-capture teams are aggressively working on implementing numerous projects. I am optimistic that these efforts will generate a minimum $200 million in annual cost synergies within three years after closing.
Olin Corporation manufactures and sells chlor alkali products in the United States and internationally. The company operates through three segments: Chlor Alkali Products, Chemical Distribution, and Winchester.
Finally, Shares of Ally Financial Inc (NYSE:ALLY), ended its last trade with 0.15% gain, and closed at $19.95.
Ally Financial, stated net income of $268 million. This compares to net income of $182 million in the preceding quarter and $423 million for the third quarter of 2014, which comprised $130 million in income from suspended operations. The company stated core pre-tax income of $431 million, not taking into account repositioning items, in the third quarter of 2015, contrast to $435 million in the preceding quarter and $467 million in the comparable preceding year period. Adjusted earnings per diluted common share for the quarter were $0.51, contrast to $0.46 in the previous quarter and $0.53 in the preceding year period. Ally stated generally accepted accounting principles (GAAP) earnings of $0.47 per common share in the third quarter of 2015.
Improved net financing revenue, not taking into account original issue discount (OID), continued to drive strong results and totaled $981 million in the third quarter of 2015, up from $936 million a year ago. Revenue from retail auto loan growth more than offset a decline in net lease revenue. Further, Ally continued to reduce its cost of funds, resulting in a quarter-over-quarter 9 basis point improvement to net interest margin (NIM), not taking into account OID, and ended the quarter at 2.67 percent. Credit performance during the quarter was in line with expectations with strong retail auto loan growth primarily driving $211 million of provision expense for the quarter, up from $102 million in the third quarter of 2014. Non-interest expenses declined by $68 million, or 9 percent year-over-year, resulting from continued expense reduction efforts and lower weather-related losses in the insurance operations. The adjusted efficiency ratio improved to 44 percent for the quarter, from 46 percent in the preceding quarter and 49 percent in the preceding year period.
Consumer auto originations remained robust at $11.1 billion for the quarter, increasing from $10.8 billion last quarter and down from $11.8 billion in the same period last year, with the company on track to exceed its originations target in the high $30 billions for 2015. Gains in the Growth2 and Chrysler channels continued to drive consumer auto originations, and not taking into account GM lease and subvented, originations raised 36 percent year-over-year. Separate from originations, during the quarter the company also accomplished a formerly declared purchase of $607 million of consumer loans and leases from Mitsubishi Motors Credit of America.
Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, counting a range of financial services and insurance products to automotive dealers and retail customers.
You may also like
Analysts Mean Recommendation Update: Apple Inc (NA…Hot News Highlights For Investors: Facebook Inc (N…Stock’s Stunning Activities – Amazon.com, (NASDAQ:…Sizzling Stocks Alert – Alibaba Group Holding Limi…Sizzling News: Aeterna Zentaris, (NASDAQ:AEZS), Ti…Analyst’s Point of View on Valeant Pharmaceuticals…Hot Stock in Focus: International Business Machine…Analyst Review on Hot Stock: Yahoo! Inc. (NASDAQ:Y…Most Active Stocks Short Term Price Target Update:…