|May 19, 2014|
|12:56 EDT||KGC||Kinross Gold November calls active as shares near 11-year low |
Kinross Gold November 5 calls are active on total call of 28K contracts; compared to its open interest of 1,700 contracts. June call option implied volatility is at 34, July is at 33, August is at 35, November is at 42; compared to its 26-week average of 46 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
News For KGC From The Last 14 Days
|November 24, 2015|
|10:00 EDT||KGC||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Avon Products (AVP) upgraded to Buy from Neutral at Citi... Box (BOX) upgraded to Buy from Neutral at BofA/Merrill... Daimler AG (DDAIF) upgraded to Buy from Neutral at UBS... Emerge Energy (EMES) upgraded on amended credit deal at Stifel... Fairmount Santrol (FMSA) upgraded to Hold from Underperform at Jefferies... IAMGOLD (IAG) upgraded to Hold from Reduce at HSBC... Kinross Gold (KGC) upgraded on acquisitions at RBC Capital... Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities... Nimble Storage (NMBL) upgraded on valuation at DA Davidson... Resolute Energy (REN) upgraded to Equalweight from Underweight at Capital One... Schnitzer Steel (SCHN) upgraded to Equal Weight from Underweight at Morgan Stanley... Webster Financial (WBS) upgraded to Overweight from Neutral at JPMorgan.
|08:17 EDT||KGC||Kinross Gold upgraded on acquisitions at RBC Capital|
As noted earlier, RBC Capital upgraded Kinross to Sector Perform from Underperform. The firm upgraded the stock as it is upbeat about the company's acquisition of Bald Mountain and the half of Round it did not already own. RBC says the deals are " accretive on all metrics, improves the geopolitical risk profile, adds reserves/resources, and reduces operating costs." Target to $2.50 from $2.25.
|06:18 EDT||KGC||Kinross Gold upgraded to Sector Perform from Underperform at RBC Capital|
|November 18, 2015|
|10:02 EDT||KGC||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: Citrix (CTXS) downgraded to Neutral from Buy at Mizuho... Diana Shipping (DSX) downgraded to Hold from Buy at Deutsche Bank... Exxon Mobil (XOM) downgraded to Underperform from Market Perform at Raymond James... Hartford Financial (HIG) downgraded to Hold from Buy at Argus... Kinder Morgan (KMI) downgraded to Buy from Conviction Buy at Goldman... Kinross Gold (KGC) downgraded to Market Perform from Outperform at Raymond James... Nuverra Environmental (NES) downgraded to Market Perform from Outperform at Cowen... Oxford Lane (OXLC) downgraded to Hold from Buy at Maxim... SM Energy (SM) downgraded at BMO Capital... Scorpio Bulkers (SALT) downgraded to Hold from Buy at Deutsche Bank... Star Bulk Carriers (SBLK) downgraded to Hold from Buy at Deutsche Bank... StoneCastle (BANX) downgraded to Market Perform from Outperform at Keefe Bruyette... Suncor (SU) downgraded to Hold from Buy at TD Securities... ZS Pharma (ZSPH) downgraded to Neutral from Buy at Citi.
|08:00 EDT||KGC||Kinross Gold downgraded to Market Perform from Outperform at Raymond James|
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|November 12, 2015|
|08:10 EDT||KGC||Kinross Gold to hold a conference call|
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|07:35 EDT||KGC||Kinross Gold to acquire Bald Mountain gold mine from Barrick Gold for $610M cash|
Kinross Gold Corporation (KGC) announced that it has entered into a definitive asset purchase agreement to acquire 100% of the Bald Mountain gold mine, which includes a large associated land package, and 50% of the Round Mountain gold mine in Nevada from Barrick Gold Corporation (ABX) for $610M in cash. The acquisition will add approximately 430,000 gold equivalent ounces in annual average forecast production over the first three years and is expected to lower Kinross' cost profile. The Bald Mountain property encompasses a 600 km prospective land package along the southern extension of the Carlin trend, the most prolific gold producing region in the United States. Kinross will leverage Barrick's area expertise to explore and develop 40% of the land package outside the current core mining area as part of a 50/50 exploration joint venture. Kinross is currently the 50% owner and operator of Round Mountain. This transaction will allow Kinross to consolidate its interest in one of the Company's best run and established mines and advance promising initiatives to optimize the operation and potentially extend estimated mine life. Round Mountain is expected to have an annual production range of 340,000-430,000 Au eq. oz. with an annual cost of sales range of $820-900 per Au eq. oz. and an annual all-in sustaining cost3 range of $850-$1,000 per Au eq. oz. over the three-year period from 2016 through 2018. In December 2015, Kinross intends to begin a scoping study on a potential expansion at Round Mountain known as Phase W.