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Kinross Gold Corp (TSE:K)
:K
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Kinross Gold (K) AI Stock Analysis

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TSE:K

Kinross Gold

(NYSE:K)

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Outperform 72 (OpenAI - 4o)
Rating:72Outperform
Price Target:
C$35.00
▲(2.55% Upside)
Kinross Gold's overall stock score is driven by strong financial performance and positive earnings call sentiment. The company's robust cash flow and strategic shareholder returns are significant strengths. However, mixed technical indicators and moderate valuation metrics suggest caution. The absence of notable corporate events further stabilizes the score.
Positive Factors
Strong Cash Flow
Kinross Gold's robust cash flow generation enhances its financial flexibility, allowing for strategic investments and shareholder returns, supporting long-term growth.
Operational Efficiency
Effective cost management and high operating margins demonstrate Kinross Gold's operational efficiency, crucial for sustaining profitability in the competitive mining industry.
Increased Shareholder Returns
Enhanced shareholder returns through dividends and buybacks reflect strong financial health and management's commitment to returning value to investors, fostering long-term investor confidence.
Negative Factors
Increased Costs
Rising costs can pressure margins and profitability, potentially impacting Kinross Gold's ability to maintain its competitive edge and financial performance over time.
Permitting Delays
Delays in obtaining necessary permits can hinder project timelines and operational efficiency, posing risks to Kinross Gold's production targets and long-term growth plans.
Net Income Fluctuations
Inconsistent net income and moderate return on equity suggest potential challenges in maintaining steady profitability, which could affect Kinross Gold's financial stability and investor appeal.

Kinross Gold (K) vs. iShares MSCI Canada ETF (EWC)

Kinross Gold Business Overview & Revenue Model

Company DescriptionKinross Gold Corporation (K) is a global gold mining company based in Toronto, Canada. It operates in the mining sector, focusing primarily on the exploration, acquisition, and production of gold, as well as silver. Kinross has a diverse portfolio of mines and projects in North America, South America, Africa, and Russia, with a commitment to sustainable practices and responsible mining. The company is known for its high-quality assets and a strong operational track record, producing millions of ounces of gold annually.
How the Company Makes MoneyKinross Gold generates revenue primarily through the sale of gold and silver, which are its core products. The company mines these precious metals from its various operations and then sells them in the global market. Revenue is driven by the volume of metals produced, the prevailing market price of gold and silver, and operational efficiency. Additionally, Kinross may engage in hedging strategies to manage price volatility and secure future cash flows. The company also benefits from partnerships in mining operations and joint ventures, which can enhance production capabilities and reduce operational risks. Factors such as geopolitical stability in mining regions, operational costs, and market demand for gold and silver significantly influence Kinross’s earnings.

Kinross Gold Earnings Call Summary

Earnings Call Date:Nov 05, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Feb 18, 2026
Earnings Call Sentiment Positive
The earnings call reflects strong financial performance and operational efficiency, with significant cash flow and shareholder returns. While there are challenges with increasing costs and permitting delays, the overall outlook remains positive.
Q3-2025 Updates
Positive Updates
Record Free Cash Flow
Kinross Gold reported record free cash flow of nearly $700 million for the third quarter and over $1.7 billion year-to-date.
Strong Production and Cost Management
Produced 504,000 ounces at a cost of sales of $1,145 per ounce, with operating margins over $2,300 per ounce due to good cost management and favorable gold prices.
Robust Financial Position
Ended the quarter with approximately $1.7 billion in cash and $3.4 billion in total liquidity, transitioning to a net cash position of almost $500 million.
Increased Shareholder Returns
Increased the dividend by 17% and share repurchases by $100 million, aiming for total returns to shareholders of more than $750 million in 2025.
Sustainability Achievements
Contributions to local educational infrastructure in Mauritania and top-level AA classification for Paracatu's tailings facilities in Brazil.
Negative Updates
Increased Costs
Cost of sales and all-in sustaining costs increased quarter-over-quarter due to mine sequencing and higher gold prices impacting royalties.
Permitting Delays at Great Bear
Two remaining AEX water permits are taking more time than anticipated, potentially impacting the timeline of the overall project if not resolved.
Company Guidance
During the Kinross Gold Third Quarter 2025 Results Conference Call, the company reported strong operational and financial performance metrics. In Q3, Kinross produced 504,000 gold equivalent ounces with a cost of sales of $1,145 per ounce, resulting in operating margins of over $2,300 per ounce due to an average realized gold price of $3,458. The company achieved record free cash flow of nearly $700 million in Q3, contributing to over $1.7 billion year-to-date. Kinross plans to increase its return of capital to shareholders beyond the $650 million committed for the year, with a total of more than $750 million expected, including a 17% dividend increase and $600 million in share repurchases. The company also reported a strengthened balance sheet, ending the quarter with approximately $1.7 billion in cash and $3.4 billion in total liquidity. Kinross remains on track to meet its full-year production guidance, expecting to slightly exceed the midpoint of its target. Operations across its portfolio, including Paracatu, Tasiast, and La Coipa, performed well, with production and costs aligning with or surpassing guidance.

Kinross Gold Financial Statement Overview

Summary
Kinross Gold demonstrates strong financial health with growing revenues and efficient cash flow management. While profitability metrics are improving, historical fluctuations in net income and moderate ROE indicate areas for vigilance. The company's solid balance sheet and cash flow positions it well for future growth, albeit with some profitability stability concerns.
Income Statement
78
Positive
Kinross Gold shows strong revenue growth with a 8.06% increase in TTM over the previous year. Gross profit and net profit margins have also improved, demonstrating enhanced operational efficiency. The EBIT and EBITDA margins are robust, indicating effective cost management. However, the net income fluctuated significantly in past years, posing risks to consistent profitability.
Balance Sheet
72
Positive
The balance sheet is solid with a favorable debt-to-equity ratio of 0.17 in TTM, reflecting manageable leverage. The equity ratio of 65.75% underscores a strong equity base. However, the return on equity is moderate, suggesting room for improvement in generating returns from equity.
Cash Flow
83
Very Positive
Kinross Gold's cash flow statement is impressive, with a substantial 24.89% growth in free cash flow in TTM, indicating efficient cash management. The operating cash flow to net income ratio is healthy, ensuring liquidity to support operations. The free cash flow to net income ratio further highlights the company's ability to convert profits into cash.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue6.07B5.15B4.24B3.46B3.73B4.21B
Gross Profit3.04B1.88B1.16B515.40M1.02B2.30B
EBITDA3.48B2.60B1.76B945.40M854.61M2.73B
Net Income1.53B948.80M416.30M-605.20M221.20M1.34B
Balance Sheet
Total Assets11.49B10.86B10.49B10.39B10.41B10.93B
Cash, Cash Equivalents and Short-Term Investments1.15B621.33M360.35M428.01M542.17M1.22B
Total Debt1.24B1.45B2.25B2.64B1.68B2.00B
Total Liabilities3.78B3.86B4.34B4.51B3.77B4.27B
Stockholders Equity7.57B6.86B6.05B5.82B6.57B6.60B
Cash Flow
Free Cash Flow1.29B1.28B507.00M242.20M313.50M993.60M
Operating Cash Flow2.07B2.45B1.61B1.05B1.14B1.96B
Investing Cash Flow-828.90M-1.18B-1.01B-1.60B-1.19B-1.25B
Financing Cash Flow-1.02B-1.01B-549.00M437.50M-623.20M-67.70M

Kinross Gold Technical Analysis

Technical Analysis Sentiment
Positive
Last Price34.13
Price Trends
50DMA
32.88
Positive
100DMA
27.94
Positive
200DMA
23.07
Positive
Market Momentum
MACD
-0.07
Positive
RSI
51.11
Neutral
STOCH
59.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:K, the sentiment is Positive. The current price of 34.13 is above the 20-day moving average (MA) of 33.91, above the 50-day MA of 32.88, and above the 200-day MA of 23.07, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 51.11 is Neutral, neither overbought nor oversold. The STOCH value of 59.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:K.

Kinross Gold Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
$78.36B20.6811.41%1.58%20.13%90.22%
78
Outperform
$24.41B28.3452.25%2.95%63.08%177.42%
72
Outperform
C$40.90B16.7424.09%0.49%36.41%144.79%
69
Neutral
C$12.89B39.498.03%3.04%78.26%
66
Neutral
$18.06B24.2314.27%0.32%34.64%115.75%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
51
Neutral
$7.09B23.126.90%2.56%34.31%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:K
Kinross Gold
34.13
21.10
161.99%
TSE:ABX
Barrick Mining
46.44
22.75
96.07%
TSE:BTO
B2Gold
5.48
1.68
44.29%
TSE:AGI
Alamos Gold
43.47
18.24
72.30%
TSE:LUG
Lundin Gold
101.73
72.38
246.66%
TSE:EDV
Endeavour Mining
55.47
27.67
99.53%

Kinross Gold Corporate Events

Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Kinross Gold Achieves Record Free Cash Flow and Boosts Shareholder Returns in Q3 2025
Positive
Nov 4, 2025

Kinross Gold Corporation reported strong third-quarter results for 2025, achieving record free cash flow of approximately $700 million and a net cash position. The company increased its share buyback target by 20% to $600 million and raised its dividend by 17%. Kinross remains on track to meet its annual guidance, with significant contributions from its Paracatu, Tasiast, and La Coipa mines. The company is also advancing its development and exploration projects, including Great Bear and Round Mountain Phase X, which are showing promising progress. These results highlight Kinross’s robust operational performance and strategic focus on shareholder returns.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$35.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Business Operations and StrategyDividends
Kinross Gold Boosts Annual Dividend by 17% and Declares Q3 Payout
Positive
Nov 4, 2025

Kinross Gold Corporation has announced a 17% increase in its annual cash dividend, raising it to $0.14 per share. Additionally, the company declared a quarterly dividend of $0.035 per share for the third quarter of 2025, payable on December 10, 2025. This move reflects Kinross’s commitment to delivering shareholder value and may enhance its attractiveness to investors, especially given its focus on operational excellence and disciplined growth.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$35.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Kinross Gold to Redeem $500 Million in Senior Notes by December 2025
Positive
Nov 4, 2025

Kinross Gold Corporation announced its plan to redeem $500 million in 4.50% Senior Notes due July 15, 2027, on December 4, 2025. This move will reduce the company’s outstanding Senior Notes to $750 million, with the next maturity date set for July 15, 2033. The redemption reflects Kinross’s strategy to manage its debt effectively, potentially strengthening its financial position and demonstrating its commitment to disciplined growth and balance sheet strength.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$35.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Financial Disclosures
Kinross Gold to Release Q3 2025 Results
Neutral
Oct 2, 2025

Kinross Gold Corporation announced it will release its third-quarter 2025 financial statements and operating results on November 4, 2025. The company will hold a conference call and webcast on November 5 to discuss these results, which could provide insights into its operational performance and strategic direction.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$27.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Kinross Gold Divests Stake in Asante Gold
Sep 26, 2025

On September 22, 2025, Kinross Gold Corporation sold 36,927,650 common shares of Asante Gold Corporation, representing approximately 5.2% of Asante’s outstanding shares, through a secondary block trade. This transaction marks Kinross’s complete divestment of its shares in Asante, although it retains warrants and a convertible debenture that could potentially increase its stake in the future. The sale, valued at C$73,116,747, was part of a strategy to realize value from shares acquired under a previous purchase agreement.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$27.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Kinross Gold Divests Stake in Asante Gold
Sep 25, 2025

On September 23, 2025, Kinross Gold Corporation announced the sale of its entire 5.2% stake in Asante Gold Corporation, amounting to 36,927,650 common shares, for a total of C$73,116,747. Despite this sale, Kinross remains a supportive investor in Asante through convertible instruments, representing approximately 8.4% of Asante’s outstanding shares on a partially diluted basis. The transaction was conducted as a private placement and reflects Kinross’s ongoing strategy of managing its investment portfolio, with potential future transactions dependent on market conditions and other factors.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$27.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Kinross Gold Sells Stake in Asante Gold for $46.27 Million
Sep 10, 2025

On September 8, 2025, Kinross Gold Corporation executed a significant transaction by selling 29,850,984 common shares of Asante Gold Corporation, representing approximately 4.2% of Asante’s outstanding shares. This sale, conducted through a secondary block trade, reduced Kinross’s holding in Asante from 9.4% to 5.2% on a non-diluted basis. The transaction, valued at approximately $46.27 million, was part of a strategic move to realize value from shares acquired under a previous purchase agreement. This adjustment in holdings may influence Kinross’s future investment strategies and market positioning.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$27.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Kinross Gold Sells Stake in Asante Gold
Sep 8, 2025

On September 8, 2025, Kinross Gold Corporation announced the sale of 29,850,984 common shares of Asante Gold Corporation, representing approximately 4.2% of Asante’s outstanding shares and 44.7% of the shares held by Kinross. The sale, conducted at a price of $1.55 per share, amounted to a total of C$46,269,025.20. Following this transaction, Kinross now holds 5.2% of Asante’s outstanding shares on a non-diluted basis and 13.2% on a partially diluted basis. This move is part of Kinross’s ordinary course of investments in portfolio companies, and the company may adjust its holdings based on market conditions and other factors.

The most recent analyst rating on (TSE:K) stock is a Buy with a C$25.25 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Kinross Gold Amends Share Purchase Agreement with Asante Gold
Aug 11, 2025

On August 11, 2025, Kinross Gold Corporation announced an amendment to its share purchase agreement with Asante Gold Corporation, which involves Asante issuing Kinross 36,927,650 common shares and a convertible debenture. This transaction, subject to conditions being met by August 31, 2025, could increase Kinross’s ownership to 18% of Asante’s shares on a partially diluted basis. This strategic move enhances Kinross’s stake in Asante, potentially impacting its market position and stakeholder interests.

The most recent analyst rating on (TSE:K) stock is a Buy with a C$14.50 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 05, 2025