Highland Gold Mining Ltd. (HGM)

Down
Share Price:
293.60p
Market Cap:
1,068.40m
Change Today:
-1.40p
Sector:
Mining

Highland Gold reaps rewards of exceptional production levels

By Duncan Ferris

Date: Tuesday 17 Apr 2018

LONDON (ShareCast) - (ShareCast News) - Gold miner Highland Gold Mining saw a rise in both profits and revenues in its most recent trading year after the firm's total production exceeded guidance range.
Revenues rose 4% to $316.7m compared on the previous year thanks to a pretax profit of $100.3m, which dwarfed the previous year's registered figure of $66.2m, in what appears to have been a highly successful year for the AIM-listed company.

Highland's revenue boost was driven by increased gold production, which achieved a record rate of 261,159 ounces, a 4.3% increase on 2016, and a rise in realised gold prices, which saw prices jump to $1,162 per ounce from the $1,136 per ounce in seen across 2016.

In further good news the company reduced its operating expenses by 35% to $10.8m and finance costs by 48% to $2.7m which offset a $1.8m rise in administrative fees, while net debt was reduced to $198m from $205m over the course of the year.

Eugene Shvidler, executive chairman of Highland Gold Mining, said, "Unlocking value came of age during 2017 when the results of extensive exploration activity and a series of updated estimates from our producing mines, Blagodatnoye, and Kekura, our flagship development project, culminated in a 56% increase in the company's proven and probable ore reserves."

In light of the success, Highland Gold Mining declared a second interim dividend of 5.42 pence per share, lifting the total dividend payout to 10.40p.

For the current year, the company projected its total production to come in between 265,000 and 275,000 ounces but noted that it remains to be seen whether this will, once again, be an underestimate.

As of 1616 BST, Highland Gold Mining's shares were up 3.45% at 143.80p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

HGM Market Data

Currency UK Pounds
Price 293.60p
Change Today -1.40p
52 Week High 301.00p
52 Week Low 150.60p
Volume 1,379,782
Shares Issued 363.90m
Market Cap 1,068.40m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. half sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 2
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.