Kinross Gold Versus Barrick, Agnico-Eagle, Goldcorp And IAMGOLD
- By Stock Jackal:When comparing Kinross Gold Corp (KGC) to its peers in the senior gold miner group Barrick (ABX), IAMGOLD (IAG), Agnico-Eagle (AEM), and Goldcorp (GG), it's prudent for the analysis to begin with the main reason why KGC's price has deviated so much from that of its peers. That reason would be the Tasiast gold mine in the Mauritanian dessert. Generally speaking, KGC is a decent senior gold mining company, but after taking a $2.49-billion writedown in February for the Tasiast mine, it has been nothing but a prime example of an overreaction, and a potential buying opportunity.This type of scenario, reminds me of the soybean fiasco experienced by American Express (AXP), in which Warren Buffett took advantage of a temporary problem with AXP. The reasoning behind this statement, is that the price of gold, is so much higher in comparison to KRC's past stock price when the price ofComplete Story »
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