Barrick Gold Corporation (USA) (ABX), Goldcorp Inc. (USA) (GG), Newmont Mining Corp (NEM): There Is a Bigger Problem Overshadowing Gold Miners

So, is Wall Street positive about these numbers?

Wall Street is not positive about these numbers; the majority of the time, EPS estimates have been downgraded since the cuts were announced, and estimates for the next few years have been depressed further, so the outlook is not pretty.

Foolish summary

Mining for gold is no longer the cash cow it was. Rising costs and the falling price of gold are crushing profits, and these three miners are having to act drastically to remain profitable and competitive.

Unfortunately, it does not look as if costs will start to fall any time soon, so cutting expensive capex programs and high-cost mines appears to be the only way forward.

The article There Is a Bigger Problem Overshadowing Gold Miners originally appeared on Fool.com and is written by Rupert Hargreaves.

Fool contributor Rupert Hargreaves has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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