|Bid||43.42 x 100|
|Ask||43.53 x 100|
|Day's Range||42.57 - 44.05|
|52 Week Range||39.30 - 51.86|
|PE Ratio (TTM)||41.05|
|Earnings Date||Feb 8, 2017 - Feb 13, 2017|
|Forward Dividend & Yield||0.44 (1.02%)|
|1y Target Est||36.13|
Kinross Gold (KGC) produced 652,710 gold equivalent ounces (or GEOs) for 4Q17 and 2.67 million GEO for 2017. The Americas accounted for 61% of Kinross’s production in 2017. The production at Fort Knox declined YoY, primarily due to lower tons placed on the heap leach pad.
Gold miners (GDX)(GDXJ) face the problem of compensating for every ounce they take out of the ground. Kinross Gold (KGC) has continued to use a gold price assumption of $1,200 per ounce for reserves and $1,400 per ounce for resources since 2011 to estimate reserves and resources at the end of 2017. Kinross’s reserves were 16% lower, at 25.9 million ounces, at the end of 2017 than in 2016.
Kinross Gold (KGC) also provided an update on its organic development projects along with the 4Q17 and 2017 results. At Round Mountain Phase W, the stripping and initial construction commenced ahead of schedule in late 2017. Kinross Gold’s management maintained, during its latest earnings call, that the Tasiast Phase One expansion is proceeding on schedule and on budget.
As gold prices rally, gold stocks such as Agnico-Eagle Mines Ltd. (TSX:AEM)(NYSE:AEM) rise, and the safe haven that is gold becomes increasingly appealing.
( All amounts expressed in Canadian dollars unless otherwise noted) TORONTO , Feb. 15, 2018 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle") announced today that ...
( All amounts expressed in Canadian dollars unless otherwise noted) TORONTO , Feb. 15, 2018 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle") announced today that it has ...
NEW YORK, NY / ACCESSWIRE / February 15, 2018 / Agnico-Eagle Mines Limited (NYSE: AEM ) will be discussing their earnings results in their Q4 Earnings Call to be held on February 15, 2018 at 11:00 AM Eastern ...
Stock Symbol: AEM (NYSE and TSX) (All amounts expressed in U.S. dollars ("$" or "US$") unless otherwise noted) TORONTO , Feb. 14, 2018 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE:AEM, ...
Agnico Eagle (AEM) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Could Gold Catch a Bid if Equities Stay Weak in 2018? While the Federal Reserve kept interest rates unchanged in its policy meeting in January 2018, it raised its outlook for inflation and flagged “further gradual” rate increases. The Fed cited solid gains in employment, capital investment, and household spending while maintaining its outlook for a strong labor market and moderate growth in the US economy.
Could Gold Catch a Bid if Equities Stay Weak in 2018? The unemployment rate for January came in at 4.1%, in-line with economists’ expectations. The jobs report from the Bureau of Labor Statistics is a very closely watched piece of data, mainly due to the repercussions jobs, wages, and unemployment data can have on the US dollar, inflation, and ultimately interest rates.
Of all the miners (GDX) we’ve discussed in this series, Agnico Eagle Mines (AEM) has the highest EV-to-forward-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of 11.6x. As can be seen in the graph below, AEM’s EBITDA margin is quite high. The company offers strong production growth, which is supported by a strong project pipeline.
Yamana Gold’s (AUY) stock almost matched the returns of the VanEck Vectors Gold Miners ETF (GDX) in 2017, returning 11.0% for the year. The major catalyst for this price reversal was the beginning of a large silver mine, Cerro Moro, in 2018. This mine, once up to full capacity in 2019, should help the miner triple its silver production and increase its gold production by 20% YoY (year-over-year).
Goldcorp Inc. (TSX:G)(NYSE:GG) is among gold stocks that offer a safe haven with strong growth ahead.
In the preceding part of this series, we discussed how Newmont Mining (NEM) underperformed the benchmark index in 4Q17 and 2017. NEM’s returns were still positive, whereas Barrick Gold’s (ABX) returns, on the other hand, were negative, coming in at -10.1% and -9.4% in 4Q17 and 2017, respectively. Barrick has started pre-releasing its production results from 3Q17.
Precious metals including gold, silver, and platinum witnessed an up-day in their spot markets on Monday. Gold (GLD) was up 0.5% and closed at $1,339.6 per ounce. Palladium is regarded as an industrial asset, so the overall market slump likely took it lower.