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Kinross Gold Corp. (TSE:K)
TSX:K
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Kinross Gold
(TSX:K)
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Rating:76Outperform
Price Target:
C$30.00
▼(-7.32% Downside)
Kinross Gold's overall stock score is driven by strong financial performance and positive earnings call highlights, including record free cash flow and shareholder returns. Technical indicators suggest bullish momentum, though overbought conditions may lead to short-term volatility. Valuation metrics are fair, supporting a balanced growth outlook.
Positive Factors
Negative Factors
Kinross Gold (K) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$39.45B
Dividend Yield0.52%
Average Volume (3M)4.60M
Price to Earnings (P/E)19.5
Beta (1Y)1.43
Revenue Growth38.34%
EPS Growth218.80%
CountryCA
Employees8,447
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.61
Shares Outstanding1,218,782,100
10 Day Avg. Volume5,945,994
30 Day Avg. Volume4,599,698
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.67
Enterprise Value/Revenue4.77
Enterprise Value/Gross Profit10.78
Enterprise Value/Ebitda8.63
Forecast
1Y Price Target
$29.35Price Target Upside-9.34% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering12
Kinross Gold Business Overview & Revenue Model
Company DescriptionKinross 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 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:Jul 30, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 04, 2025
Earnings Call Sentiment Positive
Kinross Gold's earnings call reflected strong financial performance with record free cash flow and significant returns to shareholders. The company maintains a robust balance sheet and has made progress in sustainability initiatives. However, some challenges related to higher costs and operational issues at La Coipa were noted. Overall, the positive aspects of the call significantly outweigh the negatives.Q2-2025 Updates
Positive Updates
Record Free Cash Flow
Kinross Gold delivered record free cash flow of almost $650 million in Q2, with a first half total of just over $1 billion.
Strong Production and Cost Management
Production in Q2 was 513,000 ounces at a cost of sales of $1,074 per ounce, contributing to record operating margins.
Significant Return of Capital to Shareholders
Kinross repurchased and canceled approximately $225 million in shares and returned almost $300 million to shareholders, on track for a minimum target of $650 million for the year.
Strong Balance Sheet
Ended Q2 with over $1.1 billion in cash and approximately $2.8 billion of total liquidity, and improved net debt position to approximately $100 million, expecting to be at net cash in Q3.
Progress in Sustainability Initiatives
Progress made in various water management initiatives, including enhanced water efficiency at La Coipa and thriving fish populations at reclaimed Fish Creek in Alaska.
Positive Exploration and Project Updates
Positive exploration updates at Curlew and Phase X projects, with strong potential for future contribution to production.
Negative Updates
Higher Costs in Second Half Expected
Operating costs are expected to increase in the second half due to planned mine sequencing, expected inflation, and lower grades at some operations.
Challenges at La Coipa
Higher-than-anticipated groundwater inflows into the pits resulted in higher costs in Q2, though adjustments have been made and improvement is expected in the second half.
Company Guidance
During the Kinross Gold Second Quarter 2025 Results Conference Call, the company reported a strong second quarter and first half, positioning itself well to achieve its full-year guidance. Kinross produced 513,000 gold equivalent ounces at a cost of sales of $1,074 per ounce, with an average realized gold price of $3,285 per ounce, resulting in record operating margins of over $2,200 per ounce. Record free cash flow for the quarter was nearly $650 million, contributing to over $1 billion for the first half. The company maintained a robust financial position with a cash balance exceeding $1.1 billion and total liquidity around $2.8 billion, while net debt was reduced to approximately $100 million. Kinross plans to continue share repurchases and maintain a quarterly dividend, with $300 million returned to shareholders so far. The company remains on track to meet its annual production guidance of 2 million ounces at a cost of sales of $1,120 per ounce, with capital expenditures expected to total $1.15 billion. The call also highlighted ongoing projects and exploration efforts, particularly at Paracatu, Tasiast, and La Coipa, and addressed challenges such as higher operating costs anticipated in the second half due to mine sequencing and inflation.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
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.78
Positive
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.72
Positive
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.83
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.56B | 5.15B | 4.24B | 3.46B | 3.73B | 4.21B |
| Gross Profit | 2.46B | 1.88B | 1.16B | 515.40M | 1.02B | 2.30B |
| EBITDA | 3.08B | 2.60B | 1.76B | 945.40M | 854.61M | 2.73B |
| Net Income | 1.21B | 948.80M | 416.30M | -605.20M | 221.20M | 1.34B |
Balance Sheet | ||||||
| Total Assets | 10.95B | 10.86B | 10.49B | 10.39B | 10.41B | 10.93B |
| Cash, Cash Equivalents and Short-Term Investments | 694.60M | 621.33M | 360.35M | 428.01M | 542.17M | 1.22B |
| Total Debt | 1.24B | 1.45B | 2.25B | 2.64B | 1.68B | 2.00B |
| Total Liabilities | 3.62B | 3.86B | 4.34B | 4.51B | 3.77B | 4.27B |
| Stockholders Equity | 7.20B | 6.86B | 6.05B | 5.82B | 6.57B | 6.60B |
Cash Flow | ||||||
| Free Cash Flow | 1.60B | 1.28B | 507.00M | 242.20M | 313.50M | 993.60M |
| Operating Cash Flow | 2.67B | 2.45B | 1.61B | 1.05B | 1.14B | 1.96B |
| Investing Cash Flow | -1.08B | -1.18B | -1.01B | -1.60B | -1.19B | -1.25B |
| Financing Cash Flow | -1.25B | -1.01B | -549.00M | 437.50M | -623.20M | -67.70M |
Kinross Gold Technical Analysis
Positive
32.37
Price Trends
26.93
Positive
23.80
Positive
20.07
Positive
Market Momentum
1.67
Positive
64.16
Neutral
77.99
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 32.37 is above the 20-day moving average (MA) of 30.99, above the 50-day MA of 26.93, and above the 200-day MA of 20.07, indicating a bullish trend. The MACD of 1.67 indicates Positive momentum. The RSI at 64.16 is Neutral, neither overbought nor oversold. The STOCH value of 77.99 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 | 79.67B | 21.52 | 8.83% | 1.57% | 20.13% | 90.22% | |
78 Outperform | 20.61B | 25.20 | ― | 3.50% | 63.08% | 177.42% | |
76 Outperform | $39.45B | 19.50 | 22.05% | 0.52% | 38.34% | 218.80% | |
72 Outperform | 19.50B | 40.88 | 7.93% | 0.30% | 38.30% | 68.57% | |
69 Neutral | 13.69B | 42.71 | 7.83% | 2.91% | 78.26% | ― | |
62 Neutral | 8.93B | -15.08 | -13.26% | 2.08% | 15.08% | -204.35% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
Performance Comparison
TSE:K
Kinross Gold
32.37
19.28
147.34%
B
Barrick Mining
33.57
13.03
63.44%
BTG
B2Gold
4.85
1.62
50.15%
AGI
Alamos Gold
33.35
12.99
63.80%
LUGDF
Lundin Gold
61.55
40.35
190.33%
TSE:EDV
Endeavour Mining
56.71
23.87
72.69%
Kinross Gold Corporate Events
Dividends
Kinross Gold Declares Quarterly Dividend for Q2 2025
Positive
Jul 30, 2025
Kinross Gold Corporation has declared a quarterly dividend of US$0.03 per common share for the second quarter of 2025, payable on September 4, 2025. This announcement reflects the company’s commitment to providing shareholder value and may impact investor sentiment positively, especially considering the dividend’s qualification as an ‘eligible dividend’ for Canadian tax purposes.
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.
Stock BuybackBusiness Operations and StrategyFinancial Disclosures
Kinross Gold Achieves Record Free Cash Flow in Q2 2025
Positive
Jul 30, 2025
Kinross Gold reported strong second-quarter results for 2025, with record free cash flow of over $600 million and robust margins driving significant returns to shareholders. The company is on track to return $650 million in capital to shareholders this year, with $225 million already repurchased in shares and $300 million returned in total. Development projects are advancing as planned, with significant progress in exploration and infrastructure development across various sites, positioning Kinross well for future growth.
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.