Three TSX-listed gold stocks to keep an eye on - Kalkine Media

August 03, 2023 01:23 AM EDT | By Akanksha Vashisht
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  • Kinross Gold Corporation reported a 33% increase in revenue for Q2 2023 to US$1.092 billion.
  • B2Gold Corp., a senior gold mining company, has a dividend yield of 4.79% as at the end of trade on August 2, 2023.
  • Centerra Gold has a dividend yield of 3.52% and reported revenue of US$184.5 million for Q2 2023.

The Canadian materials sector has seen an incline through the year, alongside gains in the major market indexes. The S&P/TSX Composite index has risen by 3.52% YTD as of the premarket hours on August 3, 2023.

Meanwhile, oil prices have also kept the energy sector buoyant, which in turn, has resulted in the S&P/TSX composite index rising. At the same time, inflationary fears have engulfed the minds of policymakers.

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The consumer price index (CPI) for June was 2.8% as reported by Statistics Canada, indicating a slowdown from May’s CPI of 3.4%. But the CPI data remains above the central bank’s target of under 2%.

Gold has amassed the reputation of an inflation hedge, alongside being a timeless asset one can own. Gold stocks, on the other hand, may ride with the momentum seen in the market. On that note, here are three TSX-listed gold stocks to keep an eye on:

Kinross Gold Corporation (TSX: K)

Kinross operates mines and conducts explorations in the Americas, West Africa, and Russia. The gold explorer announced a Q2 dividend of US$0.03 per common share, which is payable on September 8, 2023. The ex-dividend date is August 24, 2023.

Kinross reported a 33% increase in revenue for Q2 2023 to US$1.092 billion, compared to US$821.5 million in Q2 2022. The gross profit in Q2 2023 was US$355.1 million, as against US$190.2 million in Q2 2022.

Kinross generated an operating cash flow of US$528.6 million and net earnings of US$151 million in Q2 2023. Meanwhile, the company’s cash and cash equivalents as at the end of June 30, 2023, were US$478.

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Based On Tuesday’s closing price of CA$6.10, Kinross has a dividend yield of 2.67%. The stock has surged 7.39% on a YTD basis as at the end of trade on August 2, 2023.

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B2Gold Corp. (TSX: BTO)

B2Gold is a senior gold mining company with its mining operations located in Mali, Namibia, and the Philippines.

The company reported gold revenue of US$470.85 million in Q2 2023, compared to US$381.98 million in Q2 2023. B2Gold’s net income was US$91.85 million and its earnings per share amounted to US$0.06 for Q2 2023.

The company’s dividend for Q2 2023 was US$0.04 per common share, which was paid on June 27, 2023. The gold mining company expects total gold production of 1 million and 1.08 million ounces during 2023.

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Based on Tuesday’s closing price of CA$4.42, BTO has a P/E ratio of 13.95x. The stock has a dividend yield of 4.79% as at the end of trade on August 2, 2023. 

Centerra Gold Inc. (TSX: CG)

Centerra Gold conducts gold mining and exploration operations in Asia, North America, and other global markets. CG recently announced a dividend of CA$0.07 per common share, payable on August 29, 2023. The ex-dividend date is August 15, 2023.

For Q2 2023, Centerra’s revenue was US$184.5 million, as against US$167.7 million in Q2 2022. Centerra’s gold sales for the quarter amounted to 48,155 ounces at an average realized market price of US$1,532 per ounce.

Meanwhile, Centerra reported total liquidity of US$799.9 million, which included a cash balance of US$401.8 million.

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Based on Tuesday’s closing price of CA$7.96, CG has a dividend yield of 3.52%. The stock witnessed YTD gains of 11.33% as at the end of trade on August 2, 2023.


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