Kinross Gold’s Strong Financial Position Could Support Growth
Kinross Gold’s (KGC) liquidity position at the end of 4Q17 wasn’t much different from the end of 3Q17.
Compared to its closest peers, Kinross Gold (KGC) has been a higher-cost gold producer.
Kinross Gold (KGC) also provided an update on its organic development projects along with the 4Q17 and 2017 results.
Kinross Gold (KGC) produced 652,710 gold equivalent ounces (or GEOs) for 4Q17 and 2.67 million GEO for 2017.
Gold miners (GDX)(GDXJ) face the problem of compensating for every ounce they take out of the ground.
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).
Kinross Gold released its 4Q17 and 2017 results on February 14 and held a conference call with analysts on February 15.
Miners had a good start to 2018. They saw higher prices due to precious metals’ revival. As precious metals fell, so did the mining stocks.
Among the four miners that we’re discussing, New Gold and Sibanye Gold have a YTD loss of 13.7% and 7.7%, respectively.
Agnico-Eagle Mines and Randgold Resources have seen their correlation with gold drop in the past three years.
Miners had a good start to 2018, as they saw an upswing in prices due to the revival of precious metals.
In this article, we’ll focus on miners’ moving averages and relative strength index (or RSI) readings.
The VanEck Vectors Gold Miners Fund (GDX) and the Global X Silver Miners (SIL) have fallen 5.4% and 6.7%, respectively, during the last five trading days.
The euro-dollar (FXE) exchange rate closed the week ended February 9 at 1.22, with the euro depreciating 1.8% against the US dollar. Whereas there was no disappointing economic data reported…
The rise in cryptocurrencies seems to have slowed down as of February 13, 2018.
Among the four miners we’re covering in this part, all of them have witnessed a fall in price on a YTD (year-to-date) basis.
Miners had a good start in 2018. However, they later faced a carnage, mainly due to the rising strength of the US dollar.
Mining stocks tend to move with gold prices. For our correlation analysis, we’ll compare four mining stocks to gold.
The implied volatility readings of Newmont Mining (NEM), Agnico Eagle Mines (AEM), Wheaton Precious Metals (SLW), and Franco-Nevada Corp. (FNV) are 31.4%, 34.6%, 30.8%, and 28.9%, respectively.
Pan American Silver (PAAS) has witnessed a declining correlation to gold over the past three years. Its three-year correlation of 0.66 dropped to a one-year correlation of 0.62.