Kinross seems very undervaluedI don't understand the current Kinross market valution. How can Agnico Eagle have a nearly 20 MUSD valuation and Kinross much less at 12.6 MUSD? (I own both stocks btw) The difference has narrowed now that dvidends have been resinstated but on paper Kinross is still producing many more gold equivalent ounces with a slightly lower AISC. Could it be mining jurisdiction risk? Russia? Mauritania? But Barrick has similar risks. Is it that Agnico is regarded as a more stable company and Kinross is emerging from a recent troubled past? Kinross is going to have zero net debt in 2021 while that's not so clear with Agnico. I also don't see the two company's projected production increases as a reason for Agnico's higher valuation.
Could someone help me out here here? My view is that Kinross, now the dividend is back, should now be trading with at least the same or higher valaution than Agnico. In other words, at least around 50% higher than its current stock price.