TSE:K

Kinross Gold (K.TO)

37.26
+0.31 (0.84%)
as of Jun 22, 2026, 8:00:00 pm Market Open.
129 watching
0
HOLD
(Market Call Minute.) Management has lost all credibility with their Taseus estimates pushing that back. Probably will eventually get taken out. Hold it for now.
DON'T BUY
Neutral on this one. Has some concerns on management’s decision to reassess its pipeline. Have some feasibility studies that are coming out. Would prefer others.
DON'T BUY
Has a lot of growth. This is the lowest valued senior. His Top Pick is the 2nd lowest but has a better balance sheet and better growth. Has a spectre of overpayment for their assets in Mauritius. This will be a good stock at some point but it may be 2014 before you really get paid.
DON'T BUY
One of the more controversial gold stocks. Bulls point to the potential of the asset base and Bears point to the checkered track record of bringing assets into production. He likes diversity of operations, low-cost structure, low geopolitical risks and a really sound operating track record. This company has the first 2 but not the last 2. Would prefer Goldcorp (G-T), Barrick (ABX-T) and Yamana (YRI-T) in that order.
DON'T BUY
Could be taken over down here. There wont be production growth for a couple of years and could be faced with higher mining costs in the mean time. Doesn’t buy on speculation of takeovers.
COMMENT
Everyone should have a position or some exposure to gold. Relative to its peer group, it is beginning to look like as if it has got a bit of value built into it. Biggest problem has been the possible write-down their Tasiast mine in Mauritania. This one is getting into range that he could be looking at it.
BUY
His number 3 gold company. Stock has been acting rather badly. They wrote off a big chunk of good will, but it tipped the scales. He is thinking of adding at these prices. Not badly managed.
DON'T BUY
When gold wasn't doing well, of the seniors this one was doing the worst. They have political risks. Has really good growth coming, but it is a couple of years away. A “show me” story. (See Top Picks.)
HOLD
Good news is that it will be a great mine in 2014 but the bad news is that this is 2011 going into 2012. Had a tough year. Investors did not like the deal, had issues with the Ecuadorian government and high royalty fees. Exposed to political risks, More so than most of the majors. Thinks the Taseus mine is going to be one that investors are going to say “show me”, “show me”, “show me”.
BUY
Probably have their hands on one of the best growth assets when they bought Red Back’s Mauritania property. Stock has probably dropped 40% since then. You almost get it for free compared to where the valuation was before. Have not hedged their gold. Some worries about their Russian production but still have a lot of diverse properties. Costs are somewhat higher than competition but in this higher gold price environment that’s the name you should be wanting to play.
WATCH
Have a big bet that they have made in Africa and there are some concerns with regards to cost escalations but also how much it is going to be to develop the site. If successful, it has potential to be a big success. With the pullback in the price of gold and the inflation and worries about costs estimates to develop the mine, the stock has pulled back. Too high a risk.
COMMENT
He is very keen on gold. His current holdings are Central Fund (CEF.A-T) for the bullion, Goldcorp (G-T) for the shares and Direct Share Participation. Also has S&P/TSX Global Gold (XGD-T) as well as a Top Pick that he will talk about later.
WATCH
Has been a poor performer since it acquired Redback for the Thaseus (?) mine, which could be a 1.5 million ounce producer eventually. Cost structure is a bit worrisome. Best measure for this company as a gold producer is, how much CapX do they have to spend relative to their NAV. They're probably the highest in the intermediate to senior space.
DON'T BUY
Tax loss selling today. It doesn’t happen very often that you lose money overall but have capital gains and have to do tax loss selling. His problem is the countries they are in and would prefer not to won for their clients because of this. But it is starting to look really cheap.
COMMENT
Had thought the company was coming around but then it took another leg down. There seems to be some significant selling of the stock and he knows some of the US hedge funds owned it. Considers it one of the cheaper gold-mining stocks.
Showing 166 to 180 of 625 entries