Kinross Gold (K) AI Stock Analysis

• Market Cap: C$62.06B
• Dividend Yield: 0.43%
• Average Volume (3M): 3.92M
• Price to Earnings (P/E): 25.6
• Beta (1Y): 1.80
• Revenue Growth: 36.41%
• EPS Growth: 144.79%
• Country: US
• Employees: 8,447
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.62
• Shares Outstanding: 1,207,100,000
• 10 Day Avg. Volume: 4,572,005
• 30 Day Avg. Volume: 3,919,046
• PEG Ratio: 0.10
• Price to Book (P/B): 1.66
• Price to Sales (P/S): 2.21
• P/FCF Ratio: 8.92
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$50.18
• Price Target Upside: -2.39% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: C$56.00 ▲(8.93% Upside)

The score is driven primarily by strong financial performance (especially free cash flow growth and a solid balance sheet) and a very constructive earnings update featuring record cash generation and higher shareholder returns. This is moderated by overbought technical conditions that increase near-term volatility risk and a less compelling valuation profile (P/E 24.08 with a low ~0.35% dividend yield).

Positive Factors

Free Cash Flow Generation

Sustained, record-level free cash flow materially strengthens Kinross's ability to fund capital expenditure, exploration, dividends and buybacks without relying on external financing. Durable cash generation increases strategic optionality and resilience through commodity cycles.

Balance Sheet Strength

Low leverage and a strong equity base provide financial flexibility to invest in projects, weather lower gold prices, and opportunistically return capital. A conservative balance sheet reduces refinancing risk and supports long-term stability amid cyclical commodity markets.

Operational Efficiency and Production

Consistent production across key mines with competitive unit costs underpins robust operating margins and predictable cash generation. Operational discipline and diversified asset performance support sustainable free cash flow and lower per-ounce cost exposure over time.

Negative Factors

Rising Operating Costs

Persistent increases in AISC and cost of sales can erode per-ounce margins and reduce free cash flow unless productivity or grade improvements offset them. Structural cost pressure from royalties and mine sequencing can persist across quarters and weaken long-term returns.

Permitting Risk at Great Bear

Regulatory and permitting delays can materially push back project timelines, defer expected production and returns, and increase carrying costs. For a resource company, prolonged permitting risk constrains growth visibility and the pace at which reserves convert to cash-generating assets.

Profitability Volatility

Historical swings in net income and only moderate ROE indicate earnings sensitivity to commodity cycles and operational variability. This volatility complicates long-term planning, capital allocation predictability, and sustained shareholder return generation during weak price environments.

Kinross Gold Business Overview & Revenue Model

Company Description

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver. Kinross Gold Corporation was founded in 1993 and is headquartered in Toronto, Canada.

How the Company Makes Money

Kinross Gold generates revenue primarily through the sale of gold and byproducts such as silver. The company operates several mines that produce gold in various forms, including doré bars and refined bullion. The primary revenue stream comes from gold sales, which fluctuate based on market prices. Additionally, Kinross benefits from hedging strategies that can protect against price volatility. The company also engages in exploration and development of new projects, potentially expanding its resource base and future revenue streams. Partnerships with other mining companies and joint ventures can also enhance its operational capabilities and financial performance. Furthermore, Kinross's focus on cost management and operational efficiency helps to improve profit margins, contributing to overall earnings.

Kinross Gold Financial Statement Overview

Summary

Strong overall fundamentals supported by solid income statement performance (revenue up 8.06% TTM and improved margins) and particularly strong cash generation (free cash flow up 24.89% TTM with healthy cash conversion). Balance sheet leverage is conservative (debt-to-equity 0.17, equity ratio 65.75%), but historical net income volatility and only moderate ROE temper the score.

Income Statement

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

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

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.42B	5.15B	4.24B	3.46B	3.73B	4.21B
Gross Profit	3.24B	1.88B	1.16B	515.40M	1.02B	2.30B
EBITDA	3.78B	2.60B	1.76B	945.40M	854.61M	2.73B
Net Income	1.75B	948.80M	416.30M	-605.20M	221.20M	1.34B
Balance Sheet
Total Assets	12.12B	10.86B	10.49B	10.39B	10.41B	10.93B
Cash, Cash Equivalents and Short-Term Investments	1.73B	621.33M	360.35M	428.01M	542.17M	1.22B
Total Debt	1.26B	1.45B	2.25B	2.64B	1.68B	2.00B
Total Liabilities	4.04B	3.86B	4.34B	4.51B	3.77B	4.27B
Stockholders Equity	7.95B	6.86B	6.05B	5.82B	6.57B	6.60B
Cash Flow
Free Cash Flow	1.51B	1.28B	507.00M	242.20M	313.50M	993.60M
Operating Cash Flow	2.31B	2.45B	1.61B	1.05B	1.14B	1.96B
Investing Cash Flow	-682.99M	-1.18B	-1.01B	-1.60B	-1.19B	-1.25B
Financing Cash Flow	-829.71M	-1.01B	-549.00M	437.50M	-623.20M	-67.70M

Kinross Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 51.41
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 51.41 is above the 20-day moving average (MA) of 45.56, above the 50-day MA of 40.91, and above the 200-day MA of 29.62, indicating a bullish trend. The MACD of 3.23 indicates Negative momentum. The RSI at 76.23 is Negative, neither overbought nor oversold. The STOCH value of 79.60 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LUG	82 Outperform	C$29.69B	30.87	55.69%	2.47%	57.32%	126.96%
AGI	77 Outperform	C$24.88B	33.42	14.27%	0.25%	34.64%	115.75%
EDV	76 Outperform	C$20.06B	29.32	16.65%	2.31%	73.23%	―
K	73 Outperform	C$62.06B	25.64	24.09%	0.43%	36.41%	144.79%
EQX	73 Outperform	C$17.57B	334.85	1.41%	―	90.17%	-91.76%
IMG	69 Neutral	C$17.23B	35.11	10.09%	―	56.17%	-51.73%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Kinross Gold Corporate Events

Kinross to Host Virtual Update on Key North American Gold Projects

Kinross Gold has announced it will provide an update on its Round Mountain Phase X, Kettle River-Curlew and Bald Mountain Redbird 2 gold projects during a virtual technical presentation and Q&A session on January 15, 2026, which will be accessible via webcast and subsequently archived on the company’s website. The planned update underscores the strategic importance of these projects within Kinross’s North American portfolio and offers investors and other stakeholders additional visibility into the company’s project pipeline and future production profile.

The most recent analyst rating on (TSE:K) stock is a Hold with a C$33.00 price target. To see the full list of analyst forecasts on Kinross Gold stock, see the TSE:K Stock Forecast page.

Kinross Gold Achieves Record Free Cash Flow and Boosts Shareholder Returns in Q3 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.

Kinross Gold Boosts Annual Dividend by 17% and Declares Q3 Payout

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.

Kinross Gold to Redeem $500 Million in Senior Notes by December 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.