|Bid||21.68 x 400|
|Ask||21.69 x 100|
|Day's Range||22.22 - 22.90|
|52 Week Range||20.84 - 25.58|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.51%|
Gold futures settle slightly higher, registering its sharpest weekly gain in more than a year as the dollar extended a monthslong slump.
Along with releasing its 2017 results, Kinross Gold (KGC) also announced an acquisition of two hydroelectric power plants in Brazil from a subsidiary of Gerdau (GGB). The rationale behind this acquisition is to secure long-term, low-cost power for its Paracatu mine in Brazil. This power should lower the overall production costs for the company’s Paracatu mine over its mine-life.
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.
Kinross Gold (KGC) released its 4Q17 and 2017 results on February 14, after the market closed, and held a conference call with analysts on February 15. Kinross Gold stock dropped ~7% on February 15, underperforming the VanEck Vectors Gold Miners ETF (GDX), which fell just 1.0%. Goldcorp (GG) and Barrick Gold (ABX) also released their 4Q17 results on February 14 and held earnings calls the next day.
Gold futures on Thursday end slightly lower, retreating from the highest finish in nearly three weeks, taking cues from a rally in stocks that hinted that investors were wading deeper into assets perceived ...
Gold futures score back-to-back gains as the dollar weakens Tuesday, with the metal taking back a sliver of the more than 1.6% erased last week in its worst performance in two months.
This piece is focused simply on price action and the psychology which shapes it. When we use multiple timeframe analysis, we first consult the longer-term timeframe to develop our overall thesis, and then we drill down to shorter timeframes to develop our plan. Each candle on the chart combines the price action of 10 trading days.
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).
This return, however, was lower than the rise in gold prices of 2% and 13% during those periods, respectively. Its project pipeline, however, remains very strong. Newmont Mining has one of the best project pipeline in the gold industry.