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Kinross Gold - an underperformer looking better


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  • 9 years later...

KGC market cap: US$5.13B = C$7B

Kinross paid C$1.8 billion to acquire Discovery Group’s Great Bear Resources

Uncovering and building support around talent is the key to the Discovery Group's successes, said Jim Paterson, co-founder and principal of Discovery Group. 《被褥》Kitco Mining correspondent Paul Harris spoke to Patterson at Mines and Money London, held from November 29 to December 1.

https://stream2.kitco.com/MN_22_12_01_Paterson_liferay.mp4

> Link: https://www.kitco.com/news/video/show/Mines-and-Money-London-2022/4343/2022-12-15/Kinross-paid-C$18-billion-to-acquire-Discovery-Groups-Great-Bear-Resources#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines-and-Money-London-2022

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  • 1 month later...

Kinross Gold Reaches 14% Share Ownership in Allegiant Gold

AUAU: 3yr: 1yr: Last: 0.24 /  update: from Mar'20:

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MT Newswires

05:04 AM EST, 01/17/2023 (MT Newswires) -- Kinross Gold (KGC.NaE) said Monday it acquired deemed beneficial ownership of 5,018,017 common shares in Allegiant Gold Ltd., but noted these will only be issued once Kinross exercises common share purchase warrants that it acquired in an investment that was finished in March 2022.

Under the March investment, Kinross purchased 10,036,034 units of Allegiant, representing 9.9% of the issued and outstanding shares.

With the new announcement, Kinross now holds approximately 14% of the issued outstanding shares in Allegiant, and it made the announcement to comply with Canadian securities laws.

 

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LONG TERM KGC Chart ... source:

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KGC is a Leader : 3yr: from 2020: '21: '22: 1yr: 10d/ Kgc-4.72, Sand-6.05, Eqx-4.45, Cde-4.17, Fsm-3.79,

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  • 6 months later...

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Kinross increases net earnings to $151M in 2nd Qtr as gold production up, costs down

shutterstock_724298887.jpg(Kitco News) - Kinross Gold (TSX: K) (NYSE: KGC), one of the world’s largest gold producers, announced today it produced 555,036 gold equivalent ounces in Q2 2023 from continuing operations, up 22% compared with 453,978 ounces in Q2 2022.

The company said in a press release that the increase in its quarterly gold output was primarily attributable to higher production at La Coipa, and higher grades and recoveries at Paracatu and Tasiast.

According to Kinross, production cost of sales from its continuing operations per gold equivalent ounce sold was $900 for the quarter, down 12% compared with $1,027 in Q2 2022, primarily due to the increase in gold equivalent ounces sold.

Kinross’ margin from continuing operations per gold equivalent ounce sold increased to $1,076 for Q2 2023, compared with the Q2 2022 margin of $845.

Free cash flow from the company’s continuing operations in Q2 2023 was $246.7 million, which is an increase of 129% compared with $107.7 million in Q2 2022.

The company’s reported net earnings from continuing operations amounted to $151.0 million, or $0.12 per share, for Q2 2023, compared with reported net loss of $9.3 million, or $0.01 per share, for Q2 2022.

Kinross said that the increase in reported net earnings was mainly due to the increase in margins.

The company reaffirmed its guidance and expects to produce 2.1 million gold equivalent ounces (+/- 5%) in 2023, and is on track to meet its annual guidance for production cost of sales, all-in sustaining cost and attributable capital expenditures.

Kinross also announced that its Board declared a quarterly dividend of $0.03 per common share payable on September 8, 2023 to shareholders of record at the close of business on August 24, 2023.

> more:  https://www.kitco.com/news/2023-08-02/Kinross-increases-net-earnings-to-151M-in-second-quarter-as-gold-production-up-costs-down.html

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  • 3 months later...
Q3/23 recap: Solid operating momentum
Investment Recommendation
We reiterate our BUY rating on Kinross and C$9.00 target price following the company's Q3/23 results. Kinross reported another strong quarter in our view and we believe the company is tracking well to achieve or exceed its production and cost guidance. Kinross is the best-performing senior gold producer YTD, up 30% YTD and well outpacing the 3% decline in the S&P/TSX Gold index (in US$ terms). Despite the outperformance, Kinross remains one of the most inexpensive senior producers on our estimates, trading at 0.57x NAV below the senior peer average of 0.63x
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  • 3 months later...

Kinross Gold Corporation (NYSE: KGC) is a Canadian-based global senior gold mining company with operations in the United States, Brazil, Mauritania, Chile, and Canada. The company focuses on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength.

In its third-quarter 2023 results released on November 8, 2023, Kinross reported impressive growth and operational achievements. Revenue surged to $1,102.4 million, marking a substantial increase from $856.5 million in the same period last year. Net income reached $109.7 million, or $0.09 per diluted share, with adjusted net earnings standing at $144.6 million, or $0.12 per share, surpassing analysts' projections.

Higher average realized gold prices and higher sales of gold equivalent ounces, especially from the Tasiast and Paracatu mines, which had record-breaking performances, were the main drivers of the 28.7% increase in revenue over the previous year.

Kinross achieved significant milestones in production, with sales of 571,248 Au eq. oz. and production of 585,449 gold equivalent ounces in the third quarter of 2023, marking an 11% increase from the previous year. The realized price for gold was $1,929 GEO sold, with all-in sustaining costs (AISC) at $1,264 per ounce, reflecting operational efficiency and cost management initiatives.

The company's operational cash flow surged from $171.6 million to $406.8 million, indicating robust financial performance. Despite increased capital expenditures, Kinross maintains a solid balance sheet, positioning it for sustainable growth and capital investments in its projects worldwide.

Kinross Gold Corporation remains on track to meet its 2023 production guidance, leveraging its operational excellence and strategic investments. With a 25% increase in performance over the past year, Kinross has outperformed its competitors, reinforcing its position as a leading player in the global gold mining industry.

As Kinross Gold Corporation continues to drive growth and value through responsible mining practices and operational efficiency, investors can expect sustained performance and long-term value creation from this esteemed industry leader.

Kinross Gold Corporation (NYSE:KGC) will release its 2023 fourth-quarter and full-year financial statements and operating results on Wednesday, February 14, 2024, after market close. This announcement underscores the company's commitment to transparency and accountability in its financial reporting.

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  • 2 weeks later...

KGC is a Leader: EQX from Mar'2019: 5.21 +0.23 / KGC-5.67=91.9%, SAND-5.03=88.7% (ugl-61.4)

3.15.24; Kgc-5.67,/ugl-68.4=8.29% Sand-5.03, 7.35%; Eqx-5.21, 7.62%; Cde-3.26, Fsm-3.44,90pWSGW.gif

'2022: 1yr: 10d/

3.15.24; Kgc-5.67,/ugl-68.4=8.29% Sand-5.03, 7.35%; Eqx-5.21, 7.62%; Cde-3.26, Fsm-3.44,

1.20.23; Kgc-4.72,/ugl-61.4=7.69% Sand-6.05, 9.85%;  Eqx-4.45, 7.25%; Cde-4.17, Fsm-3.79,CJYBPtD.gif

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