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KGC

Kinross Gold

$4.21

-0.07 (-1.64%)

, AEM

Agnico Eagle

$48.81

-0.72 (-1.45%)

17:25
05/18/17
05/18
17:25
05/18/17
17:25

Kinross announces vend-in of Yukon property to form White Gold alliance

Kinross Gold (KGC) announced it has entered into an agreement to acquire an approximately 19.9% interest in White Gold Corp by selling its 100% interest in the White Gold exploration project in the Yukon Territory to the company. The strategic ownership in White Gold Corp will provide Kinross with future optionality in the White Gold District, and in the larger Yukon Territory. Agnico Eagle Mines (AEM) also holds an approximately 19.9% equity investment in White Gold Corp, and both Kinross and Agnico Eagle are expected to leverage their technical and operational experience to support White Gold Corp's pursuit of exploration and development opportunities in the Yukon, including at the White Gold exploration property. Kinross' sale of the White Gold exploration property to White Gold Corp includes the following consideration: Approximately $7M in cash, payable upon closing; 17.5M common shares of White Gold Corp, at deemed purchase price of C$2.01 representing approximately 19.9% of the pro forma issued and outstanding shares of White Gold Corp, with a current market value of approximately $26M; Deferred payments of approximately $11M, payable in three equal payments of approximately $3.7M upon announcement by White Gold Corp of a preliminary economic assessment, announcement of the completion of a feasibility study, and following the announcement of a positive construction decision for the White Gold exploration project. Kinross will also enter into an investor rights agreement with White Gold Corp that will provide Kinross with the right to maintain its ownership position through participation in any future equity financings, and the right to nominate a board member in White Gold Corp. The transaction is expected to be completed during the second quarter.

KGC

Kinross Gold

$4.21

-0.07 (-1.64%)

AEM

Agnico Eagle

$48.81

-0.72 (-1.45%)

  • 03

    Aug

  • 09

    Nov

KGC Kinross Gold
$4.21

-0.07 (-1.64%)

05/03/17
CIBC
05/03/17
UPGRADE
CIBC
Outperformer
Kinross Gold upgraded to Outperformer from Neutral at CIBC
12/19/16
BMOC
12/19/16
DOWNGRADE
BMOC
Market Perform
Kinross Gold downgraded on gold price outlook at BMO Capital
As noted earlier, BMO Capital downgraded Kinross Gold to Market Perform from Outperform. Analyst Andrew Kaip downgraded the stock in conjunction with the firm's decision to lower its gold price outlook. Target to $3.75 from $6.50.
12/19/16
BMOC
12/19/16
DOWNGRADE
BMOC
Market Perform
Kinross Gold downgraded to Market Perform from Outperform at BMO Capital
12/05/16
SBSH
12/05/16
DOWNGRADE
Target $3.25
SBSH
Sell
Kinross Gold downgraded to Sell from Neutral at Citi
Citi analyst Alexander Hacking downgraded Kinross Gold to Sell saying the company's higher cost profile should put pressure on margins and free cash flow amid a lower gold price environment. The downgrade follows Citi's global commodity team lowering their gold and silver price forecasts based on a strong U.S. dollar outlook and the back-up in bond yields. Hacking cut his price target for Kinross shares to $3.25 from $4.
AEM Agnico Eagle
$48.81

-0.72 (-1.45%)

03/29/17
JPMS
03/29/17
UPGRADE
JPMS
Overweight
Agnico Eagle upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst John Bridges upgraded Agnico Eagle to Overweight citing valuation and continued progress with reserve replacement. The analyst has a C$78 price target for the shares.
02/16/17
FBCO
02/16/17
NO CHANGE
Target $64
FBCO
Outperform
Credit Suisse remains a buyer of Agnico Eagle on potential weakness
Credit Suisse analyst Anita Soni notes that Agnico Eagle may trade off on an outlook for 2017 which was below consensus estimates. But given the company's track record of exceeding expectations and the strong reserve/resource update and pipeline, the analyst remains a buyer of stock on potential weakness. She reiterates an Outperform rating and $64 price target on the shares.
10/25/16
10/25/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Time Warner (TWX) upgraded to Outperform from Neutral at Wedbush with analyst James Dix saying he expects the acquisition by AT&T (T) to go through. 2. McCormick (MKC) upgraded to Outperform from Neutral at Credit Suisse with analyst Robert Moskow saying the recent selloff in shares provides an opportunity for investors to capitalize on structural demand growth in the spices and seasonings category. 3. Swift Transportation (SWFT) upgraded to Buy from Neutral at UBS with analyst Thomas Wadewitz saying the company's third quarter results showed "solid execution." 4. Chesapeake (CHK) upgraded to Equal Weight from Underweight at Stephens and to Sector Perform from Underperform at RBC Capital. 5. Agnico Eagle (AEM) upgraded to Outperform from Market Perform at Raymond James with analyst Phil Russo citing the recent pullback in shares and operational performance year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/16
RAJA
10/25/16
UPGRADE
RAJA
Outperform
Agnico Eagle upgraded to Outperform from Market Perform at Raymond James
Raymond James analyst Phil Russo upgraded Agnico Eagle to Outperform due to the recent pullback in shares and operational performance year-to-date. The analyst maintained his $55 price target on Agnico shares.

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AMZN

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10.83 (1.13%)

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TWTR

Twitter

$18.43

0.08 (0.44%)

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TKPYY

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$25.87

0.025 (0.10%)

19:29
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GE

General Electric

$28.18

0.13 (0.46%)

19:27
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GOOG

Alphabet

$941.86

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$941.86

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CRM

Salesforce

$88.94

1.54 (1.76%)

19:19
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GE

General Electric

$28.18

0.13 (0.46%)

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BTU

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$23.29

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AAPL

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TTWO

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BA

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$183.67

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, BDRBF

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MTSC

MTS Systems

$53.80

0.45 (0.84%)

19:05
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HP

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, HAL

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Downgrade
Helmerich & Payne, Halliburton, ProPetro Holding, U.S. Silica rating change at Goldman Sachs »

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HAL

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INVH

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ATW

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TSLA

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EXPGY

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