Morningstar has a “buy" recommendation on gold miner Kingsgate Consolidated . “Our recently adjusted $4.20 Kingsgate fair value estimate stands, and at $1.02, the shares persist at a substantial discount," the research house said.

“However, there remains a strong element of ‘you get what you pay for’. Kingsgate has very high fair value uncertainty and lacks a moat. Kingsgate’s cash costs are high, particularly since acquiring its second mine, Challenger, in 2011, and mine life outside of the cash-cow Chatree operation is low."