Agnico Eagle Mines Ltd

Lower ore grade increases the amount of waste stripping required—in order to extract some volume of ore—as a result of mining more tons of waste.

OPGSX may also invest up to one-fifth of its portfolio directly into gold or silver bullion and other precious metals.

All-in sustaining costs make up a comprehensive and important cost metric for gold mining companies. A lower AISC is better for gold miners.

First Majestic, New Gold, Agnico, and Silver Wheaton now have RSI scores of 60.5, 56.2, 57.6, 59.6, respectively.

Gold price’s reversal this year has created opportunities in gold stocks. The SPDR Gold Shares ETF (GLD) had gained 11% year-to-date as of Friday.

Gold production is an important metric for gold miners, because miners generally try to increase gold production in order to reduce costs amid low prices.

Kirkland Lake is first among analysts’ favorite gold stocks with 91% “buy” and 9% “hold” ratings. The target price implies a potential upside of 16%.

Goldcorp (GG) has given negative returns in 2017. Its stock has lost 6.1% of its value as compared to a gain of 12.8% in the iShares Gold Trust (GLD) and 11.1% in the VanEck Vectors Gold Miners ETF (GDX).

With declining gold prices, the most famous gold ETF, the SPDR Gold Shares ETF (GLD), has also lost its allure. It’s trading at lower volume.

Hedge funds increased their net positions in the SPDR Gold Shares ETF during the first quarter.

All-in sustaining costs (or AISC) came in at $554 per ounce, a reduction of $142 per ounce from the same period last year. The reduction was mainly due to lower sustaining capital expenditure (or capex).

In this series, we’ll analyze the various business aspects of Kinross Gold. We’ll also look at various key drivers that impact Kinross’s investors.

In 3Q15, Goldcorp (GG) posted record gold production of 922,200 ounces—2% growth quarter-over-quarter and 42% growth year-over-year.

In 2015, the average net debt-to-EBITDA ratio of the six intermediate gold miners we’ve been evaluating in this series is 0.9x—a similar level to 2014.

Gold miners’ stocks have underperformed most of the market indices and gold itself. GDX has significantly underperformed GLD since 2008.

Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they are still generally liquid.

Tracked by the Federal Reserve, the weekly US Dollar Index measures the value of the dollar compared to the currencies of its significant trading partners.

Although every gold miner talks about only doing merger and acquisition (or M&A) strategies that are in shareholders’ best interests, GG sticks to its strategy—unlike most of its peers.

The junior mining space is very risky, given very limited options in terms of mines and their involvement in early stages. So it’s very important to identify the right junior stock.

Many gold miners (RING) are set to release their first-quarter results shortly. Analysts expect Barrick Gold’s (GOLD) EBITDA to rise 6.2% YoY (year-over-year) in the first quarter.

At the end of 2018, Barrick Gold (GOLD) reported mineral reserves of 64.5 million ounces—a decline of 3.4% YoY.

Besides ongoing geopolitical concerns, a crucial factor that gold keeps looking to for directional moves is the US dollar.

Another critical factor that has been affecting the price movement of precious metals is overall market volatility.

None of the analysts covering Kinross Gold (KGC) recommended a “sell” rating on the stock. 40% of them have “buy” ratings, while 60% suggest a “hold” for the stock.

New Gold, Agnico-Eagle Mines, Franco-Nevada, and Cia de Minas Buenaventura have call-implied volatilities of 45.2%, 24.4%, 21.7%, and 31.2%, respectively.

Agnico, Randgold, Yamana, and Barrick have call implied volatilities of 24.3%, 21.1%, 38.8%, and 22.8%, respectively.

Alamos Gold, Sibanye Gold, Agnico Eagle Mines, and Pan American Silver have call-implied volatilities of 43.2%, 50.5%, 22.1%, and 27.5%, respectively.

Newmont Mining’s mean consensus revenue for 2017 is $7.3 billion. This implies year-over-year (or YoY) growth of 8.1%.

Newmont Mining (NEM) is expecting its newest mines to add production at just $750 per ounce.

Gold, silver, and platinum all had a down day on Tuesday, December 13, mainly due to speculations over the Federal Reserve’s pending interest rate decision.

Investors have their eyes set on the interest rates. A rise in the interest rates causes the demand for precious metals to fall.

Gold is the most dominant among the four precious metals. It’s important that investors analyze how miners are moving compared to precious metals.

Gold remains the most dominant among the four precious metals. It’s crucial that investors analyze how the miners are moving versus precious metals.

After a substantial slump on Monday, gold futures for December delivery rose 0.5% on Tuesday and closed at $1,281.7 per ounce.

On November 7, Agnico-Eagle Mines (AEM), Yamana Gold (AUY), Hecla Mining (HL), and Harmony Gold (HMY) had implied volatility readings of 33.6%, 48.4%, 36.3%, and 53.3%, respectively.

The iShares MSCI Global Gold Min (RING) and the VanEck Vectors Junior Gold Miners (GDXJ) fell 2.6% and 1.5%, respectively, on October 26.

Barrick Gold (ABX) reported AISC (all-in sustaining costs) of $772 per ounce in 3Q17, which is 10% higher year-over-year and 9% higher sequentially.

When investors look at mining stocks, it’s important that they do a technical analysis of the stocks.

As of October 19, Sibanye Gold, Agnico Eagle Mines, Silver Wheaton, and Randgold Resources had implied volatility readings of 63%, 33.6%, 30.8%, and 25%.

The Physical Silver Shares (SIVR) and Physical Swiss Gold Shares (SGOL) witnessed rises on Friday, October 16, climbing 0.98% and 0.81%, respectively.

Among the miners that we’re looking at in this part of the series, Sibanye Gold has the lowest correlation to gold on a YTD basis, while Gold Fields has the highest correlation to gold.

Mining funds that have a strong relationship to precious metals are the Global X Silver Miners (SIL) and the VanEck Vectors Gold Miners (GDX).

On October 5, Gold Fields, Agnico-Eagle, Cia De Minas Buenaventura, and AngloGold had implied volatility readings of 40.4%, 33.6%, 35.3%, and 40.9%, respectively.

The precious metals continued rising on Wednesday, and gold also witnessed a rebound.

North Korean tensions Like the US dollar, global tensions can be responsible for precious metal price fluctuations. North Korea has interpreted US president Donald Trump’s comments as a declaration of war, stating that Pyongyang has the right to take countermeasures, including shooting down US bombers outside of its airspace. The ongoing unrest in the Korean peninsula has led to a global […]

Monday, September 25, 2017, was a day of revival for mining shares as tensions in North Korea resurfaced.

The Tasiast Phase One expansion is expected to increase mill throughput capacity from 8,000 tons per day to 12,000 tons per day.

Despite just 0.7% expected growth in revenues for 2017, Agnico Eagle Mine’s EBITDA is expected to grow 5.6% YoY in 2017.

On September 11, 2017, Agnico-Eagle, Barrick Gold, Hecla Mining, and Kinross had volatilities of 45.2%, 28.1%, 40.4%, and 39.8%, respectively.

Silver Wheaton has the highest correlation with gold, while Franco-Nevada has the lowest correlation.