Dallas, Texas 10/15/2013 (Financialstrend) – Share holders of Canadian gold production company AuRico Gold Inc (NYSE:AUQ) will be looking forward to in anticipation, two dates over the next couple of week. The first date is November 7, when the results from its third quarter operations ending September 30 would be announced. The second date is October 29, on which day the share holders of common stock of AUQ will get paid $0.04 dividend for each share they hold. Share holders on record as of October 11 would be eligible for the dividend payout. Including the payout in October, AUQ would have paid out a total of $0.16 for the year.
In spite of the dividend payout announcement the stock of this gold producer has been under pressure at the browsers. Over the past week the stock has depreciated by 7.5% and by close to 24.5% over the past 90 days. This downward march of the stock is not unique to AUQ stock. Over the past two weeks Gold future prices have plummeted by $30.
In spite of the recent loss of market value, AuRico has been one the exceptions with Credit Suisse upping its rating from Netural to Outperform on October 6. The rating agency had sighted new management bringing in fresh ideas along with a consistent delivery on declared targets over the past couple of quarters as the reasons for it bullishness for this stock.
In line with Credit Suisse predictions, by end of trading on October 14, the stock of AuRico Gold Inc appreciated by 2.58% and had settled at $3.58 per share. In spite of the rally AUQ shares are trading just 3.4% above its 52 week low pricing. Trade analysts have put out a target of $5.52 per share for this stock. AuRico Gold operations are spread across “Young-Davidson gold mine in northern Ontario, and the El Chanate mine in Sonora State of Mexico.”