The Canada-listed gold mining stocks we’ve identified have experienced significant stock-price declines and are primed for a rebound should the gold price continue to rise
SmallCapPower | August 29, 2018: The price of gold currently is trading at US$1,200 per ounce, a decline of 7.5% from January 2018. The drop has significantly affected the operating revenues of major gold producers in Canada. Today we have dug up four Canada-listed gold mining stocks with market caps greater than $500M that have seen their share prices decline by an average of 38% (YTD), in conjunction with declining gold prices.
New Gold Inc. (TSX:NGD) – $1.38
Gold
New Gold is gold producer and developer located in Canada, Mexico and the United States. The Company’s 2018 consolidated guidance estimates between 525-595 Koz Au. Currently, New Gold is continuing exploration on the Blackwater project, a proven and probable mineral reserve with 8.2 Moz. of untapped Au potential.
- Market Cap: $775.5 Million
- YTD Price PCT Change: -66.6%
- Avg Volume last 30 days: 982,926
Kinross Gold Corp. (TSX:K) – $3.90
Gold
Kinross Gold is a Canadian gold mining company with international projects in the United States, Brazil, Chile, Ghana, Mauritania (West Africa), and Russia. The Company’s 2018 consolidated guidance projects output of 2.5M oz Au. On June 12, 2018, the Company announced it would proceed with the Gilmore project, an initiative to expand mining operations at Fort Knox, Alberta by six years into 2027 and leaching into 2030. This expansion will increase the life-of-mine production of Fort Knox by approximately 1.5 Moz. Au.
- Market Cap: $4,875.9 Million
- YTD Price PCT Change: -28.0%
- Avg Volume last 30 days: 1,888,905
Eldorado Gold Corp. (TSX:ELD) – $1.33
Gold
Eldorado Gold is a Canada-based gold producer with operations in Turkey, China, Greece, Romania and Brazil. The Company has three operating mines and several projects under development. Projects currently under development include the Lamaque Project located in Quebec, which is expected to begin production in 2019. Following strong Q2/2018 results, the Company increased its expected consolidated guidance to 330-340 koz. of production for 2018.
- Market Cap: $1,056.0 Million
- YTD Price PCT Change: -26.9%
- Avg Volume last 30 days: 671,480
Leagold Mining Corp. (TSX:LMC) – $2.15
Gold
Leagold is a mid-tier gold producer with a focus on high-yield targets in Latin America. Currently, the Company owns four active mines. Its flagship project, Los Filos, is located 240km south of Mexico City, Mexico, while the remaining three mining projects are concentrated in Brazil. Current consolidated guidance is estimated at 325-350 koz. Au production in 2018. In May 2018, Leagold acquired Brio Gold Inc and the Santa Luz Project, an open-pit mine with expected annual production of 100 koz. of gold annually. Construction at Santa Luz is expected to recommence in late 2018 or early 2019.
- Market Cap: $600.9 Million
- YTD Price PCT Change: -26.4%
- Avg Volume last 30 days: 133,630
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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