Cramer's Expectations for Agnico-Eagle, Goldcorp Earnings
Cramer is anticipating earnings reports from two troubled gold mining companies after Wednesday's closing bell.
To start, the "Mad Money" host will look for quarterly numbers from Agnico-Eagle Mines . The Canadian gold miner's stock has been cut in half while the price of gold has doubled, Cramer noted. Last week, shares tumbled after the Toronto-based company announced it suspended operations at its Goldex mine at Val d'Or, Quebec, because of water inflow and ground instability. Will company executives say anything that could help the stock reverse this "hideous" trajectory?
"They have to clear things up and tell a better story," Cramer said.
Goldcorp is also slated to report after the closing bell. Its last quarter was "hideous," Cramer said, so hopefully things are different this time around. He thinks company executives will "clean their act up."
It's important to note, however, that Cramer does not recommend buying any gold miners. He prefers the SPDR Gold Shares exchange-traded fund instead.
When this story was published, Cramer owned the GLD.
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