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Message: K-DD - P/E's all over the map
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K-DD - P/E's all over the map

posted on Sep 09, 2008 03:19AM

Starting my Kinross DD. Wondering why these P/E's are all over the map.

Comparison of top 6 gold producers from XAU index

(data from Google Finance as of 09-09-08)

Freeport-McMoRan - Mkt Cap: 27.67B - P/E: 9.23
Barrick - Mkt Cap: 27.06B - P/E: 13.68
Goldcorp - Mkt Cap: 20.88B - P/E: 40.24
Newmont - Mkt Cap: 16.78B - P/E: 118.39
Kinross Gold Corp - Mkt Cap: 8.80B - P/E: 25.44
Agnico-Eagle - Mkt Cap: 7.37B - P/E: 60.21

I'm guessing Freeport is a special case because of the copper, but I really don't understand the range of P/E's. Is it related to reserve life? Hedging? (I thought most of that was over, except maybe Barrick) What's the variable that's driving these P/E's?

thanks
ebear

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