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Kinross Gold Corp KGC

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Stock XNYS Rating as of
$7.53 +0.43 (6.06%)
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Company Report

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

Jon Mills

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.

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Price vs Fair Value

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KGC is trading at a 277% premium.
Price
$7.10
Fair Value
$8.44
Uncertainty
High
1-Star Price
$7.33
5-Star Price
$5.28
Economic Moat
Vdp
Capital Allocation
Lllr

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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Trading Information

Previous Close Price
$7.10
Day Range
$7.17–7.56
52-Week Range
$4.32–7.56
Bid/Ask
$7.50 / $7.55
Market Cap
$9.25 Bil
Volume/Avg
18.6 Mil / 16.1 Mil

Key Statistics

Price/Earnings (Normalized)
15.86
Price/Sales
2.12
Dividend Yield (Trailing)
1.59%
Dividend Yield (Forward)
1.59%
Total Yield
1.59%

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
Website
https://www.kinross.com

Competitors

Valuation

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Metric
KGC
GOLD
AEM
Price/Earnings (Normalized)
 15.8618.8026.92
Price/Book Value
 1.501.251.69
Price/Sales
 2.122.554.71
Price/Cash Flow
 5.946.9811.23
Price/Earnings
KGC
GOLD
AEM

Financial Strength

Metric
KGC
GOLD
AEM
Quick Ratio
 0.672.090.51
Current Ratio
 2.633.322.09
Interest Coverage
 10.689.9826.73
Quick Ratio
KGC
GOLD
AEM

Profitability

Metric
KGC
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
KGC
GOLD
AEM
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