Kinross Gold
Kinross Gold Corporation is a mining corporation that explores, acquires land, and develops gold properties worldwide. Some of its countries of operation include the United States, Canada, Brazil, Chile, Russia, Ghana, and Mauritania. It will extract and process gold ores and then produce and sell the yellow metal. One major reason to like Kinross Gold is the production guidance. For this year, the company expects to deliver production of 2.1 million oz. But gold production could increase to 2.9 million oz by the 2023 financial year.
Source: TD Ameritrade TOS
The company reported its first-quarter results on May 11. In it, Kinross delivered a 51% year-over-year increase in adjusted net earnings, with margins increasing 25% to $1,031 per ounce sold. The company’s management also mentioned that it is well-positioned to generate strong cash flow throughout the year. Besides, Kinross remains on track to meet its annual guidance. It’s also worth noting that the company acquired a 70% stake in the Fort Knox project. Considering there is ample room for shareholder value creation, should investors include KGC stock on their watchlist?