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Kinross Gold Corp K

Morningstar Rating
CAD 10.19 +0.05 (0.49%)
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Company Report

Kinross Gold Earnings: Higher Sales Volumes and Gold Prices Drive a Solid Result

No-moat Kinross Gold’s solid 2024 first-quarter result broadly met our expectations. It is on track to meet our unchanged forecast for sales of around 2.05 million gold equivalent ounces, or GEO, in 2024. Sales volumes grew 7%, driven by higher production from its Tasiast mine in Mauritania and La Coipa mine in Chile. The increased production broadly offset headwinds from inflation, meaning unit cash costs were similar to last year.

Price vs Fair Value

K is trading at a 640% premium.
Price
CAD 10.19
Fair Value
CAD 9.70
Uncertainty
High
1-Star Price
CAD 85.57
5-Star Price
CAD 1.77
Economic Moat
Rhb
Capital Allocation
Mpgb

Bulls Say, Bears Say

Bulls

Tasiast and Paracatu, Kinross' two largest operations by production, sit within the lower half of the industry cost curve.

Bears

Kinross sits around the middle of the gold cost curve, making it more leveraged to movements in gold prices compared with its lower-cost competitors.

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News

Trading Information

Previous Close Price
CAD 10.14
Day Range
CAD 10.0810.33
52-Week Range
CAD 5.9111.27
Bid/Ask
CAD 10.13 / CAD 10.20
Market Cap
CAD 12.52 Bil
Volume/Avg
1.7 Mil / 3.7 Mil

Key Statistics

Price/Earnings (Normalized)
15.90
Price/Sales
2.13
Dividend Yield (Trailing)
1.60%
Dividend Yield (Forward)
1.62%
Total Yield
1.60%

Company Profile

Kinross Gold is a Canada-based gold producer, producing roughly 2.2 million gold equivalent ounces in 2023. The company had about a decade of gold reserves at the end of 2023. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.
Sector
Basic Materials
Industry
Gold
Stock Style Box
Mid Core
Total Number of Employees
6,600

Competitors

Valuation

Metric
K
GOLD
AEM
Price/Earnings (Normalized)
15.9018.0226.25
Price/Book Value
1.511.201.65
Price/Sales
2.132.454.60
Price/Cash Flow
5.966.6910.95
Price/Earnings
K
GOLD
AEM

Financial Strength

Metric
K
GOLD
AEM
Quick Ratio
0.332.090.69
Current Ratio
1.153.322.21
Interest Coverage
12.629.989.56
Quick Ratio
K
GOLD
AEM

Profitability

Metric
K
GOLD
AEM
Return on Assets (Normalized)
5.47%3.40%3.79%
Return on Equity (Normalized)
9.56%6.73%5.65%
Return on Invested Capital (Normalized)
6.92%4.86%5.30%
Return on Assets
K
GOLD
AEM
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Gold Industry Comparables

1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Zijin Mining Group Co Ltd ADR
ZIJMY
Jymvc$61.7 Bil
Zijin Mining Group Co Ltd Class H
ZIJMF
Lcxtwm$61.7 Bil
Newmont Corp Chess Depository Interest
NEMCL
Zyrm$47.1 Bil
Newmont Corp
NEM
YlwmxndVvzf$47.1 Bil
Agnico Eagle Mines Ltd
AEM
WcldvfpPtwv$32.0 Bil
Barrick Gold Corp
GOLD
TpxmwdrtJqfvf$28.1 Bil
Wheaton Precious Metals Corp
WPM
WhnwfkrpChrz$24.0 Bil
Franco-Nevada Corp
FNV
Vsxqsk$22.3 Bil
Gold Fields Ltd
GFIOF
Cftlw$11.9 Bil
Kinross Gold Corp
KGC
DsqBjk$9.1 Bil

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