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KGC

Kinross Gold Corporation

5/18/2013, 1:19 PM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 10, 12:23 PM The mini-recovery in gold and metals mining stocks is stopped as gold prices sink 3% today to ~$1,425/oz. after closing higher in each of the past two weeks. A breach of key chart levels is prompting heavy selling of gold futures, already under pressure from a stronger dollar and rising stock markets. Among big miners: ABX -3%, NEM -2.1%, GG -1.6%, KGC -3.8%, SLW -2.7%, FCX -1.8%. Comment! [Commodities, On the Move]
Thursday, May 9, 11:12 AM Kinross Gold (KGC +1%) extends gains after Q1 results showed a 10% jump in Y/Y production levels and a 12% drop in all-in costs. CEO Paul Rollinson credits tough decisions in moving to "get away from production at all cost, to meaningfully try to create value through margin and NPV." But aside from the past two days, investors still don't feel the love, as the stock is stuck near its lowest since 2002. Comment! [Commodities]
Wednesday, May 8, 8:52 AM Kinross Gold (KGC) +4.1% premarket after reporting a 50% Y/Y increase in its Q1 profit, as production increased and costs fell. Produced 648.9K attributable gold equivalent oz. vs. 588.3K in the year-ago quarter. Cost per gold equivalent oz. of attributable production was $729, down from $738. Says it is on target to meet 2013 guidance for production and cost of sales at each region and company-wide. Comment! [Commodities, Earnings, On the Move]
Tuesday, May 7, 5:49 PM Kinross Gold (KGC): Q1 EPS of $0.15 beats by $0.01. Revenue of $1.06B beats by $0.03B. (PR) 1 Comment [Earnings, Breaking News]
Tuesday, May 7, 12:10 AM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GA, GPOR, HTA, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Monday, May 6, 5:35 PM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GTEK, GA, GPOR, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Monday, April 29, 2:42 PM More on Citi's review of gold mining stocks: On Buy-rated Barrick (ABX +3.4%), the firm believes liquidity concerns at $1,400/oz. gold are misplaced since ABX already has announced $600M in spending cuts, plans to issue new long-term debt to address near-term maturities, and continues to negotiate non-core asset sales. Citi also keeps a Buy on Kinross (KGC -2.2%) because of the growth offered by the Tasiast project. 5 Comments [Commodities, Quick Ideas, On the Move]
Monday, April 29, 11:39 AM Gold miners (GDX) have been smacked by plunging gold prices, but Citigroup and HSBC think they have further to fall. Citi worries about AngloGold (AU) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold (HMY) has the balance sheet to weather similar problems; Gold Fields (GFI) is its sector favorite. HSBC cuts GFI, Agnico Eagle (AEM) and many others. 1 Comment [Commodities, Quick Ideas]
Monday, April 29, 8:25 AM Kinross Gold (KGC) maintains enough optimism to move forward with its troubled Tasiast expansion project in Mauritania after a pre-feasibility study showed encouraging economic figures, though it remains cautious on the project's future. The internal rate of return is projected as a modest 11%, assuming a gold price of $1,500/oz., slightly above current prices. KGC +2.9% premarket. Comment! [Commodities, Global & FX]
Monday, April 22, 1:35 PM Shares of gold miners are mixed after Deutsche Bank's Jorge Beristain cuts price targets for several North American gold producers, warning that some may need to raise capital by selling new stock. Newmont Mining (NEM +0.2%) is cut to Sell from Hold with a $24 price target (from $40), while Barrick (ABX -1.7%) and Kinross (KGC +2.5%) are reduced to Hold from Buy (I, II). Goldcorp (GG +2.2%) is kept at Hold. 2 Comments [Commodities, Quick Ideas, On the Move]
Thursday, April 18, 8:39 AM Barrick Gold (ABX) +1.9% premarket despite news Moody’s has placed the company on review for a possible downgrade of its senior unsecured debt rating after work was halted on its $8.5B Pascua-Lama mine. Several mining/metals stocks are higher premarket after gold prices rebound: IAG +3.8%, KGC +3.6%, GOLD +3.1%, GG +2.2%, HMY +2.1%, RIO +1.9%. 1 Comment [Commodities, On the Move]
Tuesday, April 16, 5:15 PM While it's difficult to find cover in a market for miners that's throwing the baby out with the bathwater, Deutsche Bank's Jorge Beristain favors gold equities with lower balance sheet risk for investors brave enough to hang on or enter new positions. The firm's short list of (relatively) safe gold stocks, in order: Goldcorp (GG +0.5%), Kinross (KGC -0.5%), Newmont (NEM -0.4%), Barrick (ABX -4.6%). Comment! [Commodities, Quick Ideas]
Tuesday, April 16, 11:58 AM Analysts at RBC Capital think credit downgrades for some top gold miners are a strong possibility. There's a “moderate probability” Barrick Gold (ABX -0.1%) could trigger a one-notch downgrade at $1,400 gold; at $1,300, Newmont Mining (NEM +1.9%) could get downgraded, and Kinross Gold (KGC +1.8%) could get cut right to junk status. TD Securities also offers similarly disturbing conclusions. (also) 5 Comments [Commodities, On the Move]
Tuesday, April 16, 9:10 AM Premarket gainers: NWBO +9%. GFI +7%. BCRX +7%. HK +7%. AU +7%. NG +6%. AUQ +6%. SAND +6%. GOLD +5%. KGC +5%.
Losers: LDK -16%. SRPT -11%. 1 Comment [On the Move]
Tuesday, April 16, 8:24 AM Most of this morning's biggest premarket gappers come from yesterday's downtrodden mining losers: GFI +7.8%, AU +6.6%, GOLD +6.1%, KGC +4.8%, ABX +4.1%, AG +4%, HMY +3.2%, HL +3.1%, AUY +2.8%, EGO +2.6%, SLW +2.5%, RIO +2.3%, NEM +2%, MT +1.9%. ETFs: GDX +2.8%, SLV +2.8%, GLD +2.3%. Comment! [Commodities, On the Move]
Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]