May. 6 at 9:05 PM
$CDE, provided silver futures cooperate in the morning this stock should open green and get even greener after the conference call at 11:00 eastern time. It was a “show me” story that delivered. The top line numbers were very good, the key performance drivers such as the New Gold integration, silver leverage increase of 53% over last quarter, great performance from Rochester and Las Chispas delivered. The new financial policy such as the inaugural dividend and expanded buybacks to
$750 million are great. Finally, the year over year eleven fold increase in cash on hand to
$843 million and the massive
$267 million in cash flow says that the strategy is working. A strong buy right here on a very undervalued stock.
