VGZ Earnings Prediction
The chart below shows how VGZ performed 10 days before and after its earnings report, based on data from the past quarters. Typically, VGZ sees a -2.16% change in stock price 10 days leading up to the earnings, and a +1.51% change 10 days following the report. On the earnings day itself, the stock moves by -2.39%. This data can give you a slight idea of what to expect for the next quarter's release.
VGZ Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
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--
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Gross Margin
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--
Operating Margin
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--
--
Net Margin
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--
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EPS
0.12
1300.00%
-1300.00%
No Data Available
VGZ Earnings Analysis
Vista Gold Corp. Corporation (VGZ.A) Earnings Conference Call
Positive
Vista Gold Corp. reported consolidated net income of $15.6 million in the second quarter of 2024, a significant improvement compared to a consolidated net loss of $1.5 million in the same period in 2023.
The net income resulted from a gain of $16.9 million on the grant of a royalty interest in mineral titles to Wheaton Precious Metals, reflecting the company's successful financial transaction.
Vista Gold Corp. strengthened its balance sheet by receiving the final $10 million installment payment under the Wheaton royalty agreement in June 2024, totaling $20 million, which significantly improved its financial position.
The company ended the second quarter with cash totaling $20.2 million, with no debt, indicating a healthy financial standing.
The new Mineral Royalties Act of 2024 in the Northern Territory of Australia, which took effect on July 1, 2024, replaced the previous net profits royalty regime with an ad valorem royalty regime, expected to positively impact project economics for Vista's Mt Todd gold project.
The new royalty rate applicable to gold doré from the Mt Todd project is set at 3.5% of the value of gold produced, representing a nearly 50% reduction in payable royalty compared to the previous regime.
Vista Gold Corp. has maintained a strong focus on health, safety, and environmental initiatives, as evidenced by the company's achievement of no lost time accidents year-to-date and the Mt. Todd site reaching 991 consecutive accident-free days, emphasizing their commitment to safety.
This dedication to health and safety standards enhances the overall sustainability and responsibility of the company's operations.
Negative
- Vista Gold reported a net loss of $1.5 million in the second quarter of 2024, which was primarily due to costs associated with Mt. Todd site and corporate administrative expenses, albeit slightly lower than the previous year.
- Despite the positive developments in the Northern Territory's Mineral Royalties Act of 2024, there was a net loss of $3.5 million for the six-month period ended June 30, 2024, mostly attributable to Mt. Todd site and corporate administrative expenses.
- The company's focus on controlling expenditures highlights ongoing challenges in achieving profitability, with the need for continued efforts to improve financial performance.
