Gold Mining Stocks Analysis: Barrick Gold, Newmont, Agnico Eagle Mines, Kinross, B2Gold, Alamos
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- Опубликовано: 28 июл 2024
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Here is my latest gold mining sector analysis. I included Barrick, Newmont, Agnico, Kinross, plus two new smaller miners to show the different risk-reward potential they come with: B2Gold and Alamos.
1. Barrick Gold Corporation (NYSE: GOLD, TSX: ABX)
Barrick Gold Corporation, the world's second-largest gold miner, operates mines in the Americas, Africa, and South Asia. Despite recent increases in all-in sustaining costs (AISC), Barrick's financial strength, minimal debt, and robust asset base position it well for future growth. With a favorable dividend policy and significant cash flow potential, Barrick offers an attractive investment opportunity in the gold mining sector for me.
2. Newmont Corporation (NYSE: NEM)
Newmont Corporation, the world's leading gold producer, has a diverse portfolio of Tier 1 mines across Africa, the Americas, and Australia. Recent mergers, including with Newcrest, have enhanced its production capacity and cash flow. Newmont's best approach right now might be a restructuring, with the company announcing plans to divest some assets and focus on the Tier 1 mines.
3. Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM)
Agnico Eagle Mines, the third-largest gold producer, boasts a low AISC and significant growth potential due to recent mergers. With a strong financial position and a history of steady dividends, Agnico is well-placed to capitalize on high gold prices. However, its high valuation and substantial dividend obligations pose challenges, making it a high-risk, high-reward investment.
4. Kinross Gold Corporation (NYSE: KGC, TSX: K)
Kinross Gold, a mid-sized miner, operates projects in the Americas and Africa with an AISC in line with industry averages. Despite recent stock price increases, Kinross remains an attractive option due to its strong cash flow, manageable debt, and ongoing projects like the new mine in Alaska.
5. Alamos Gold Inc. (NYSE: AGI, TSX: AGI)
Alamos Gold, a smaller miner, focuses on North American assets and aims to grow its production significantly. With a low AISC, no debt, and strong financials, Alamos is poised for growth and potential acquisitions.
6. B2Gold Corp. (NYSE: BTG, TSX: BTO)
B2Gold, with four operating mines and several projects, produces around one million ounces annually. Despite higher expected AISC due to investments, B2Gold's robust financial position, low valuation, and substantial dividend yield, they have to be balanced with its significant exposure to Mali.
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0:00 Gold Mining Sector Analysis: Gold vs Silver and others
3:20 Barrick (NYSE: GOLD) Stock Analysis
7:16 Newmont (NYSE: NEM) Stock Analysis
10:26 Agnico Eagle Mines (NYSE: AEM) Stock Analysis
13:35 Kinross (NYSE: KGC) Stock Analysis
15:44 Alamos (NYSE: AGI) Stock Analysis
18:57 B2Gold (NYSE: BTG) Stock Analysis
#stocks #investing #personalfinance #valueinvesting 
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💝Don't forget to like and subscribe if you appreciate what I do!
Here is my latest gold mining sector analysis. I included Barrick, Newmont, Agnico, Kinross, plus two new smaller miners to show the different risk-reward potential they come with: B2Gold and Alamos.
I did a lot of research on B2Gold and I absolutely love what I see!
Aside of what you said, they are opening a new mine in the North of Canada in 2025 and also one in Columbia. So even if something happens in Mali, they will still have a higher output in 2026, compared to what they have today!
Thank you for the comment! Yeah, the new mines will lower the dependency on Mali, which is very good 👍
First time I came to ur channel. Very good analysis of the companies. Currently I am invested in Agnico, B2Gold, Pan American Silver, Coeur and Sibanye... 2024 is looking very bright so far!
Thank you! I've made videos about Sibanye and silver miners as well, make sure to check them out if interested ☺️
These videos are extremely informative and well made thankyou
Thanks a lot! 👍
Thank you very much. Very interesting and I apreciate all the time and efford putting that together. Is there a similar video about copper produzers? Have a great time and good investments.
Thank you for the kind words! Much appreciated! Yes, there is a similar video here: ruclips.net/video/vpsF1qYqSTE/видео.html
Barrickに期待しています。今でも株価は安く、なぜ人気がないのか不思議です。今後も新しい情報を楽しみにしています。
Me too. I think it is a combination of the high CAPEX affecting the FCF and AISC, but it seems a bit too cheap
Good video, love the clarity
Thank you! Glad you liked it
SVM and FSM seems to be hitting resistance. I am going to continue to hold
Great video as always Andrew, I also think that Barrick is among the most undervalued in the sector, as the CEO himself said in an interview 1 month ago, high inflation and low production have compressed margins and raised the AISC, however, he himself said that with gold at these prices, inflation falling, and with production expected to increase, margins will certainly benefit and therefore perhaps also the share price. Personally I don't have exposure to Barrick yet, but I was thinking about opening one, do you think Andrew at these prices is it still worth buying?
Thank you! I think it has potential from the current price, yeah. I would prefer something like $14-15 to be fair but if I were to open a smaller new position, the current one wouldn’t be that bad for me
@@Investing_With_AndrewThank you Andrew
@@Investing_With_AndrewComparing various companies in the sector I found Centerra gold, which seems to me to have among the lowest AISC in the sector and in excellent financial shape, do you have any knowledge about them? If so it would be nice to hear your comment on them Andrew
I haven’t heard about them before for some reason. They indeed look very very good. Not sure why they are so cheap. I thought it may be the reserves running out, but that doesn’t seem to be the case. Neither political issues. Let me know if you find something 🤔
@@Investing_With_AndrewThanks for the reply Andrew, yes if I find anything more about it I will let you know. It makes me think maybe they are so cheap also because in the last two years they have not been profitable in terms of net income.
If u buy which is your choice
Today, probably Barrick. But I also like Agnico/Alamos/Kinross/B2 - it depends on the price
What do you think of SSRM? High risk, high reward?
Seems like it. Good financials but very high AISC which is a big problem. The recent accident at the Turkish mine is also a risk for potential lawsuits/political issues.
@@Investing_With_Andrew Yes, All-In Sustaining Cost is high:
$1,569 per ounce in Q1 2024.
But unlike Victoria Gold SSRM has 3 other producing mines and a lot of cash.
Marigold Production: 35,000 ounces of gold at an AISC of $1,430 per ounce.
Seabee Production: 24,000 ounces of gold at an AISC of $1,416 per ounce.
Puna Silver Production: 1.9 million ounces at an AISC of $14.75 to $16.25 per ounce.
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There are some problems yes, but not a BIG problem as you mention because a) high AISC gets less important with a high price of gold which is the current situation b) there are already strong hints that the Coepler mine will reopen (this time not with risky leach pad technology as turkish investors (Anagold) and government are very interested to go on with production. There are critics of SSRM in Turkey but the ruling AKP party is a supporter and dominant in the local area c) initial examinations indicate that lawsuits will not be a large problem as the accident was not mainly due to SSRM faults.
Conclusion: Expect a big jump when the reopening of Coepler will be announced...the problem is rather that other mining stocks may perform better in the meantime.
SSRM needs a lot of patience...the reward will be great.
Can you do a video on tin miners?
I can add them to the list. Thanks for the suggestion! 👍
The best for long term?
It depends on the price and risk-reward you want to take. I like Alamos/Agnico, but not at this price. Barrick is also ok.