On Wednesday, McEwen Mining Inc (NYSE:MUX)’s shares inclined 21.78% to $0.950.
McEwen Mining Inc. (MUX) report our financial and operating results for the three months ended June 30th, 2015(1). The Company had record quarterly production of 39,164 gold equivalent ounces and stated cash flow from operations of about $6 million or $0.02 per share. The El Gallo Mine in Mexico was the key performer in the quarter, producing at a cash costs and all-in sustaining costs (AISC) per gold equivalent ounce of $351 and $546, respectively.
Operating and Financial Highlights
Production Costs
Total cash costs, all-in sustaining costs (AISC) and all-in costs per gold equivalent ounce sold for Q2 2015 on a merged basis were $713, $1,048 and $1,151 per ounce, respectively. Total cash costs and AISC at our El Gallo Mine totaled $351 and $546 per gold equivalent ounce respectively. Total cash costs and AISC at the San José Mine were $933 and $1,215 per gold equivalent ounce, respectively. The year over year decrease in total cash costs per gold equivalent ounce sold is due to higher average gold grade mined and processed at the El Gallo Mine and improved processing efficiencies.
Distribution
As a result of improving operational performance and growing cash reserves, the Company started an annual distribution to shareholders of $0.01 per share. The distribution will be paid on a semi-annual basis, with the first installment of $0.005 payable on August 17th, 2015 to shareholders of record on July 31st, 2015. Our distribution is generally not taxable for residents of the United States and Canada because it is considered a return of capital. You are advised to speak to a financial professional should you have any questions or concerns about taxation.
McEwen Mining Inc. explores for, develops, produces, and sells precious and base metals in Argentina, Mexico, and the United States. It primarily explores for gold, silver, and copper. The company’s principal assets comprise of a 49% interest in the San José Mine in Santa Cruz, Argentina; the El Gallo 1 mine and El Gallo 2 project in Sinaloa, Mexico; the Gold Bar project in Nevada, the United States; and the Los Azules copper project in San Juan, Argentina.
Tenet Healthcare Corp (NYSE:THC)’s shares gained 0.42% to $52.45.
Tenet Healthcare Corporation (THC) stated Adjusted EBITDA of $568 million for the second quarter of 2015, an enhance of $108 million, or 23.5 percent, contrast to $460 million in the second quarter of 2014. The results for the second quarter of 2015 comprised of $16 million of Adjusted EBITDA generated by United Surgical Partners International (USPI) and Aspen Healthcare, which were attained by Tenet on June 16, 2015.
Tenet generated same-hospital growth in admissions and adjusted admissions of 1.7 percent and 2.3 percent, respectively, contrast to the second quarter of 2014. Paying admissions raised 2.1 percent, reflecting growth in the number of newly insured patients. Surgeries performed in our hospital segment raised 1.5 percent and emergency department visits raised 2.4 percent. On a pro forma same-facility system-wide basis, counting the results of USPI and Aspen in both the second quarters of 2015 and 2014, surgical and imaging cases in our Ambulatory Care segment grew by 6.8 percent.
The company continues to benefit from declines in uninsured and charity volumes. In the six states in which we operate that expanded their Medicaid programs, same-hospital uninsured plus charity admissions declined by 639 admissions, or 31.5 percent, and Medicaid admissions raised by 767 admissions, or 2.6 percent. Uninsured plus charity outpatient visits reduced by 8,729 visits, or 15.8 percent, and Medicaid outpatient visits grew by 32,714 visits, or 9.2 percent. The six states are comprised of five states that expanded Medicaid in 2014 (Arizona, California, Illinois, Massachusetts and Michigan) and one state that expanded Medicaid in 2015 (Pennsylvania).
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer. The company’s general hospitals offer acute care services, operating and recovery rooms, radiology services, respiratory therapy services, clinical laboratories, and pharmacies.
At the end of Wednesday’s trade, E Commerce China Dangdang Inc (ADR) (NYSE:DANG)‘s shares dipped -1.59% to $6.83.
E-Commerce China Dangdang Inc. (DANG) a leading business-to-consumer e-commerce company in China, recently declared its unaudited financial results for the first quarter ended March 31, 2015.
First Quarter 2015 Highlights
- Total net revenues for the first quarter of 2015 were RMB2,217.3 million ($357.7 million), a 27.7% enhance from the corresponding period in 2014. Gross Merchandise Value (“GMV”)from the marketplace in the first quarter of 2015 was RMB1,771.5 million ($285.8 million), a 49.4% enhance from the corresponding period in 2014. The combination of product revenue from principal business and GMV from the marketplace reached RMB3,920.2 million ($632.4 million) and grew 37.3% year-over-year.
- Dangdang had about 10.2 million active customers counting about 4.1 million new customers, in the first quarter of 2015, representing enhances of 18% and 46%, respectively, from the corresponding period in 2014. Total orders for the first quarter of 2015 were about 21.3 million, a 29% enhance from the corresponding period in 2014.
- Mobile orders accounted for 41% of total orders for the first quarter of 2015, contrast to 14% for the corresponding period in 2014.
E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the People’s Republic of China. It primarily sells books, periodicals, electronic publications, consumer electronics, and audio-visual products through its Website dangdang.com. The company also sells general merchandise products, counting fashion and apparel; beauty and personal care products; home and lifestyle products; baby, children, and maternity products; apparel and accessories; and footwear, handbags, and luggage. In addition, it operates the dangdang.com marketplace program, which enables third-party merchants to sell general merchandise products.
Northern Trust Corporation (NASDAQ:NTRS), ended its Wednesday’s trading session with -1.38% loss, and closed at $76.60.
Northern Trust Corporation ( NTRS) declared that Thomas E. Richards, Chairman, President and Chief Executive Officer of CDW Corporation, has been elected to its board of directors.
Richards, 60, has served as President of CDW since 2009, Chief Executive Officer since 2011 and Chairman since 2013. Before serving as Chief Executive Officer of CDW, Richards served as CDW’s Chief Operating Officer from 2009 to 2011.
Preceding to joining CDW, Richards held leadership positions with Qwest Communications International Inc., counting Executive Vice President and Chief Operating Officer. Richards also served as Chairman and Chief Executive Officer of Clear Communications Corporation and as an Executive Vice President of Ameritech Corporation.
Richards presently serves on the Board of Directors for Junior Achievement of Chicago and on the Board of Trustees for the University of Pittsburgh and Rush University Medical Center.
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset administration, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Administration. The C&IS segment offers asset servicing and related services, counting trust and custody, employee benefit services, fund administration, investment operations outsourcing, investment risk and analytical services, securities lending, foreign exchange, banking, cash administration, treasury administration, brokerage services, and transition administration services.
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