We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kinross (KGC) Inks Deal With Government of Mauritania
Read MoreHide Full Article
Kinross Gold Corporation (KGC - Free Report) recently inked a definitive agreement with the government of Mauritania to provide enhanced certainty on Tasiast economics.
The agreement includes key terms such as continuation of tax exemptions on fuel duties, repayment of roughly $40 million to Kinross by the government in outstanding VAT refunds and payment of $10 million to the government by the company to resolve disputed matters.
It also introduces an updated escalating royalty structure linked to the gold price that aligns with current Mauritanian mining legislation and is comparable to other royalties in the region. The agreement also states the nomination of two observers by the government to the board of the Kinross subsidiary operating the Tasiast mine.
Kinross and the government are focused on resuming milling operations at Tasiast as well as prioritizing efforts and processes to achieve this shared objective.
The government noted that the completion of this deal is a testament to the quality of the strategic alliance between the Mauritania government and Kinross. The deal also reflects on the government’s commitment and focus on attracting responsible, experienced and long-term private sector partners in Mauritania to execute projects that advance the country’s development and provide benefits to its people.
Shares of Kinross have declined 24.3% in the past year compared with 21.7% fall of the industry.
Image Source: Zacks Investment Research
Kinross, last month, lowered its 2021 production guidance to 2.1 million gold equivalent ounces, compared with 2.4 million gold equivalent ounces it projected earlier on Feb 10, 2021. Kinross’ annual production outlook for 2022 and 2023 is pegged at 2.7 million and 2.9 million gold equivalent ounces, respectively.
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Olin Corporation (OLN - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 403% for the current year. The company’s shares have surged 126.1% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olin has an expected earnings growth rate of around 523.7% for the current year. The company’s shares have skyrocketed 264.1% in the past year. It currently sports a Zacks Rank #2 (Buy).
Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 43.6% in the past year. It currently flaunts a Zacks Rank #1.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Kinross (KGC) Inks Deal With Government of Mauritania
Kinross Gold Corporation (KGC - Free Report) recently inked a definitive agreement with the government of Mauritania to provide enhanced certainty on Tasiast economics.
The agreement includes key terms such as continuation of tax exemptions on fuel duties, repayment of roughly $40 million to Kinross by the government in outstanding VAT refunds and payment of $10 million to the government by the company to resolve disputed matters.
It also introduces an updated escalating royalty structure linked to the gold price that aligns with current Mauritanian mining legislation and is comparable to other royalties in the region. The agreement also states the nomination of two observers by the government to the board of the Kinross subsidiary operating the Tasiast mine.
Kinross and the government are focused on resuming milling operations at Tasiast as well as prioritizing efforts and processes to achieve this shared objective.
The government noted that the completion of this deal is a testament to the quality of the strategic alliance between the Mauritania government and Kinross. The deal also reflects on the government’s commitment and focus on attracting responsible, experienced and long-term private sector partners in Mauritania to execute projects that advance the country’s development and provide benefits to its people.
Shares of Kinross have declined 24.3% in the past year compared with 21.7% fall of the industry.
Image Source: Zacks Investment Research
Kinross, last month, lowered its 2021 production guidance to 2.1 million gold equivalent ounces, compared with 2.4 million gold equivalent ounces it projected earlier on Feb 10, 2021. Kinross’ annual production outlook for 2022 and 2023 is pegged at 2.7 million and 2.9 million gold equivalent ounces, respectively.
Kinross Gold Corporation Price and Consensus
Kinross Gold Corporation price-consensus-chart | Kinross Gold Corporation Quote
Zacks Rank & Key Picks
Kinross currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , Olin Corporation (OLN - Free Report) and Cabot Corporation (CBT - Free Report) .
Nucor has a projected earnings growth rate of around 403% for the current year. The company’s shares have surged 126.1% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Olin has an expected earnings growth rate of around 523.7% for the current year. The company’s shares have skyrocketed 264.1% in the past year. It currently sports a Zacks Rank #2 (Buy).
Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 43.6% in the past year. It currently flaunts a Zacks Rank #1.