Like a perpetual game of monkey-in-the-middle, the midsized miners of gold are pegged with a term that even sounds like a passing phase: intermediate. With a voracious appetite for acquisitions and a knack for streamlining development, Kinross Gold
At 527,000 ounces, Kinross Gold achieved nearly twice the production of Yamana Gold
Although gold prices were lower in the first quarter compared with last year, Kinross enjoyed a 61% increase in revenue, costs declined 11% to $419 per gold equivalent ounce (GEO), and operating earnings increased 72%. Net earnings, unfortunately, were up an unremarkable 8%, to $76.5 million.
Kinross appears to have a gap in the development pipeline. Beyond the Pacaratu expansion now nearing completion, the pipeline is principally in the feasibility stage, where projects like the Lobo Marte property -- acquired from Teck Resources
A recent blog post by new blogger speedybure on Motley Fool CAPS led me to re-evaluate my classification of larger "mid-tier" miners Kinross and Goldcorp
I still consider Kinross an excellent growth story, but suggest a measure of caution because some projects are located in potentially troublesome regions.
Gold is a hot topic on the blogs at Motley Fool CAPS. Join the free service today and see just how many Fools are taking the long view when it comes to investing in gold. The "Gold" tag at CAPS lists 35 companies, and you'll find Christopher's comments on most of them.
Fool contributor Christopher Barker sees a pot at the end of the rainbow for investors with exposure to gold. He can be found blogging actively and acting Foolishly in the CAPS community under the username TMFSinchiruna. He owns shares of Anglo American, Kinross Gold, Teck Resources, and Yamana Gold. The Motley Fool has a gilded disclosure policy.