RE:Q1 earningsI think Woodyer learned something form last year's disaster. Recall Segovia had a fire that negatively impacted production. The problem was they did not disclose it until earnings were released. The stock went from 4.50 to below $3 in short order. Markets hate negative surprises and the offending company's stock are punished accordingly.
This year they had a solid press release on April 15th. They disclosed there was reduced production from planned maintenance. With the next line in the PR stating how solid and growing production is expected for the remainder of the year. That PR was a launching point taking it from 4.88 to today's 5.72 where it has significantly outpeformed gold mining indexes.
I'm expecting a vanilla earnings release. The April 15 PR already gave analysts what they needed for their financial models, so there should be no revenue, earnings or cash flow surprises.
Sellers have come out ferociously at the 5.90 level, which makes sense since a resistance trendline flows through there and the 61.8% Fibonacci line is at 5.95. My guess is if shorts have piled in at that level, they may be hoping for a "buy the rumor, sell the fact" earnings drop to cover. That is quite common but since earnings should be as expected, there is no real anticipation for an upside suprise that Bulls would be betting on. I'm perfectly fine if the stock chops sideways for a couple weeks to bleed of its over-bought status.