KGC - Kinross Gold: Continued Declines In Reserves Per Share

2024-07-09 23:44:58 ET

Summary

• Kinross saw a significant decline in gold reserves year-over-year, with reserve replacement continuing to lag its peers.
• Unfortunately, this has continued an industry-lagging trend of reserve per share growth, with reserves per share down over 70% since 2005.
• In this update, we'll dig into its year-end reserves, how reserves per share are trending relative to peers & how it looks from a valuation standpoint after its recent rally.

The Q2 Earnings Season is set to start later this month for the Gold Miners Index ( GDX ) and producers as well as royalty/streaming companies will enjoy their highest gold price on record at $2,300/oz or higher. However, more important than any quarterly figures to be released later this month are resource/reserve statements updated in H1 for most companies, which provide a glimpse into how they are succeeding regarding replacing their mined depletion and how reserves per share are trending. Kinross Gold ( KGC ) ( K:CA ) was one of the first companies to report its results, which we'll dig into below:

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