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Kinross Gold

TSX:K
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
K
TSX
CA$6B
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The last earnings update was 33 days ago. More info.


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K Share Price and Events
7 Day Returns
-1.6%
TSX:K
0.1%
CA Metals and Mining
0.7%
CA Market
1 Year Returns
-7.5%
TSX:K
-7.9%
CA Metals and Mining
-0.1%
CA Market
K Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kinross Gold (K) -1.6% -3.5% 7% -7.5% 7.3% -13.1%
CA Metals and Mining 0.1% 1.5% 10.1% -7.9% 5.7% -23.5%
CA Market 0.7% 1.6% 11.5% -0.1% 15.4% 5%
1 Year Return vs Industry and Market
  • K underperformed the Market in Canada which returned -0.1% over the past year.
Price Volatility
K
Industry
5yr Volatility vs Market

K Value

 Is Kinross Gold undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kinross Gold to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kinross Gold.

TSX:K Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:K
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.17
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.17 (1 + (1- 26.5%) (41.8%))
1.355
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.35
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.355 * 5.96%)
10.02%

Discounted Cash Flow Calculation for TSX:K using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kinross Gold is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:K DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.02%)
2019 -99.53 Analyst x6 -90.47
2020 410.80 Analyst x5 339.37
2021 568.16 Analyst x5 426.61
2022 352.00 Analyst x1 240.23
2023 355.00 Analyst x1 220.21
2024 334.44 Est @ -5.79% 188.56
2025 322.84 Est @ -3.47% 165.44
2026 316.89 Est @ -1.84% 147.60
2027 314.65 Est @ -0.71% 133.20
2028 314.93 Est @ 0.09% 121.18
Present value of next 10 years cash flows $1,891.94
TSX:K DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $314.93 × (1 + 1.95%) ÷ (10.02% – 1.95%)
$3,976.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,976.13 ÷ (1 + 10.02%)10
$1,529.95
TSX:K Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,891.94 + $1,529.95
$3,421.89
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,421.89 / 1,250.31
$2.74
TSX:K Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:K)
1.334
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $2.74 x 1.334
CA$3.65
Value per share (CAD) From above. CA$3.65
Current discount Discount to share price of CA$4.43
= -1 x (CA$4.43 - CA$3.65) / CA$3.65
-21.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Kinross Gold is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kinross Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kinross Gold's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:K PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.02
TSX:K Share Price ** TSX (2019-03-18) in CAD CA$4.43
TSX:K Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $3.32
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 13.41x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.84x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kinross Gold.

TSX:K PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:K Share Price ÷ EPS (both in USD)

= 3.32 ÷ -0.02

-175.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kinross Gold is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Kinross Gold is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Kinross Gold's expected growth come at a high price?
Raw Data
TSX:K PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -175.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
53.6%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.69x
Canada Market PEG Ratio Median Figure of 251 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Kinross Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kinross Gold's assets?
Raw Data
TSX:K PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $3.60
TSX:K Share Price * TSX (2019-03-18) in CAD CA$4.43
TSX:K Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $3.32
Canada Metals and Mining Industry PB Ratio Median Figure of 1,081 Publicly-Listed Metals and Mining Companies 1.45x
Canada Market PB Ratio Median Figure of 2,348 Publicly-Listed Companies 1.57x
TSX:K PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:K Share Price ÷ Book Value per Share (both in USD)

= 3.32 ÷ 3.60

0.92x

* Primary Listing of Kinross Gold.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kinross Gold is good value based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Kinross Gold's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Kinross Gold has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

K Future Performance

 How is Kinross Gold expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
53.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kinross Gold expected to grow at an attractive rate?
  • Kinross Gold's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Kinross Gold's earnings growth is expected to exceed the Canada market average.
  • Kinross Gold's revenues are expected to decrease over the next 1-3 years, this is below the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:K Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:K Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 53.6%
TSX:K Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts -0.7%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 33.7%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 6.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:K Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:K Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,856 883 1
2022-12-31 2,905 1,140 1
2021-12-31 3,348 1,080 174 5
2020-12-31 3,214 1,035 143 11
2019-12-31 3,256 972 109 11
TSX:K Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,213 789 -24
2018-09-30 3,236 972 222
2018-06-30 3,311 1,042 386
2018-03-31 3,404 1,037 417
2017-12-31 3,303 952 445
2017-09-30 3,396 888 111
2017-06-30 3,478 956 54
2017-03-31 3,486 1,093 -4
2016-12-31 3,472 1,099 -104
2016-09-30 3,275 979 -829
2016-06-30 3,175 945 -885
2016-03-31 3,053 796 -943

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kinross Gold's earnings are expected to grow significantly at over 20% yearly.
  • Kinross Gold's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:K Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Kinross Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:K Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.14 0.18 0.08 3.00
2020-12-31 0.10 0.12 0.07 5.00
2019-12-31 0.08 0.12 0.04 5.00
TSX:K Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.02
2018-09-30 0.18
2018-06-30 0.31
2018-03-31 0.33
2017-12-31 0.36
2017-09-30 0.09
2017-06-30 0.04
2017-03-31 0.00
2016-12-31 -0.08
2016-09-30 -0.69
2016-06-30 -0.75
2016-03-31 -0.82

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kinross Gold is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kinross Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kinross Gold has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

K Past Performance

  How has Kinross Gold performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kinross Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kinross Gold does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Kinross Gold's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Kinross Gold's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Kinross Gold's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kinross Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:K Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,212.60 -23.60 242.20
2018-09-30 3,236.40 221.70 244.80
2018-06-30 3,310.50 386.20 235.80
2018-03-31 3,404.10 416.90 238.60
2017-12-31 3,303.00 445.40 238.60
2017-09-30 3,395.50 111.30 229.90
2017-06-30 3,477.70 53.70 241.90
2017-03-31 3,485.50 -4.40 239.20
2016-12-31 3,472.00 -104.00 238.00
2016-09-30 3,275.40 -829.40 256.10
2016-06-30 3,174.60 -884.60 260.50
2016-03-31 3,053.40 -942.80 280.60
2015-12-31 3,052.20 -984.50 287.40
2015-09-30 3,137.30 -1,616.10 287.50
2015-06-30 3,273.60 -1,567.70 279.40
2015-03-31 3,430.30 -1,438.50 280.30
2014-12-31 3,466.30 -1,400.00 284.40
2014-09-30 3,552.10 -666.50 285.50
2014-06-30 3,482.70 -615.30 301.20
2014-03-31 3,538.80 -3,143.20 311.60
2013-12-31 3,779.50 -3,012.60 323.70
2013-09-30 4,089.30 -5,257.50 303.20
2013-06-30 4,322.70 -5,078.20 346.70
2013-03-31 4,360.30 -2,483.40 357.80
2012-12-31 4,307.30 -2,546.20 378.00
2012-09-30 4,040.20 -2,352.30 391.40
2012-06-30 3,971.50 -2,371.40 257.40
2012-03-31 3,929.50 -2,240.00 227.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Kinross Gold has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Kinross Gold used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
  • It is difficult to establish if Kinross Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Kinross Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kinross Gold has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

K Health

 How is Kinross Gold's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kinross Gold's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kinross Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kinross Gold's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Kinross Gold's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kinross Gold Company Filings, last reported 2 months ago.

TSX:K Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,527.30 1,735.00 357.50
2018-09-30 4,577.40 1,734.40 566.00
2018-06-30 4,649.20 1,733.80 969.40
2018-03-31 4,702.90 1,733.20 1,009.50
2017-12-31 4,619.20 1,732.60 1,036.90
2017-09-30 4,416.30 1,732.00 1,049.70
2017-06-30 4,361.00 1,734.50 1,117.70
2017-03-31 4,336.70 1,733.80 832.40
2016-12-31 4,184.30 1,733.20 838.40
2016-09-30 4,329.60 1,732.50 841.70
2016-06-30 4,311.20 1,983.00 1,013.90
2016-03-31 4,234.80 1,982.20 759.10
2015-12-31 3,933.20 1,981.40 1,055.70
2015-09-30 4,756.10 1,980.60 1,116.00
2015-06-30 4,818.60 2,030.30 1,118.00
2015-03-31 4,869.60 2,029.60 1,045.10
2014-12-31 4,891.80 2,058.10 1,019.80
2014-09-30 6,166.90 2,058.10 978.10
2014-06-30 6,211.20 2,087.80 824.50
2014-03-31 6,140.90 2,092.20 746.10
2013-12-31 6,089.90 2,122.50 784.20
2013-09-30 6,833.80 2,121.30 1,079.80
2013-06-30 6,763.10 2,147.40 1,163.10
2013-03-31 10,012.00 2,156.50 1,420.80
2012-12-31 9,925.70 2,635.30 2,002.70
2012-09-30 12,912.50 2,629.50 2,089.30
2012-06-30 12,714.10 1,623.60 1,340.30
2012-03-31 12,579.40 1,617.80 1,487.00
  • Kinross Gold's level of debt (38.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (34.8% vs 38.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Information is not available.
  • Unable to confirm if Kinross Gold has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Kinross Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kinross Gold has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

K Dividends

 What is Kinross Gold's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Kinross Gold dividends. Estimated to be 0% next year.
If you bought CA$2,000 of Kinross Gold shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Kinross Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Kinross Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:K Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:K Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.00 4.00
2019-12-31 0.00 4.00
TSX:K Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2015-02-10 0.000 0.000
2015-01-15 0.000 0.000
2014-11-05 0.000 0.000
2014-07-30 0.000 0.000
2014-05-07 0.000 0.000
2014-04-07 0.000 0.000
2014-02-12 0.000 0.000
2013-11-13 0.000 0.000
2013-07-31 0.160 3.083
2013-02-13 0.160 2.663
2012-08-08 0.160 1.702
2012-02-15 0.160 1.801
2011-08-10 0.120 0.888
2011-02-16 0.100 0.636
2010-08-04 0.100 0.571
2010-02-18 0.100 0.571
2009-08-12 0.100 0.510
2009-03-19 0.080 0.452

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Kinross Gold has not reported any payouts.
  • Unable to verify if Kinross Gold's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Kinross Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Kinross Gold has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Kinross Gold's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Kinross Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kinross Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kinross Gold has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

K Management

 What is the CEO of Kinross Gold's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
J. Rollinson
COMPENSATION $7,343,251
AGE 56
TENURE AS CEO 6.6 years
CEO Bio

Mr. J. Paul Rollinson has served as Chief Executive Officer and Director of Kinross Gold Corporation since August 1, 2012. Mr. Rollinson serves as President of Kinross Gold Corporation. He was appointed Executive Vice-President, Corporate Development in September 2009 after having joined Kinross as Executive Vice-President, New Investments, in September 2008. Prior to joining Kinross, Mr. Rollinson had a long career in investment banking spanning 17 years. From June 2001 to September 2008, he worked at Scotia Capital (“Scotia”) where his final position was Deputy Head of Investment Banking. During his time with Scotia, he was responsible for the mining, power/utilities, forestry and industrial sectors. From April 1988 to June 2001 he worked for Deutsche Bank AG, where his final position was Managing Director/Head of Americas for the mining group, and before that, from 1994 to April 1998 he was a senior Member of the mining team at BMO Nesbitt Burns. Mr. Rollinson has an Honours Bachelor of Science Degree in Geology from Laurentian University and a Master of Engineering in Mining from McGill University.

CEO Compensation
  • J.'s compensation has increased whilst company is loss making.
  • J.'s remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Kinross Gold management team in years:

3.9
Average Tenure
58
Average Age
  • The tenure for the Kinross Gold management team is about average.
Management Team

J. Rollinson

TITLE
President
COMPENSATION
$7M
AGE
56
TENURE
6.6 yrs

Tony Giardini

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
58
TENURE
6.3 yrs

Lauren Roberts

TITLE
Senior VP & COO
COMPENSATION
$2M
TENURE
2.2 yrs

Paul Botond Tomory

TITLE
Senior VP & CTO
COMPENSATION
$2M
TENURE
2.2 yrs

Geoff Gold

TITLE
Executive VP of Corporate Development & External Relations and Chief Legal Officer
COMPENSATION
$3M
TENURE
11.1 yrs

Tom Elliott

TITLE
Senior Vice President of Investor Relations & Corporate Development
TENURE
3.2 yrs

Gina Jardine

TITLE
Senior Vice President of Human Resources
COMPENSATION
$2M
TENURE
3.9 yrs

Greg Etter

TITLE
Senior Vice-President of Legal
AGE
59

Kathleen Grandy

TITLE
Corporate Secretary
Board of Directors Tenure

Average tenure and age of the Kinross Gold board of directors in years:

3.8
Average Tenure
58
Average Age
  • The tenure for the Kinross Gold board of directors is about average.
Board of Directors

Catherine McLeod-Seltzer

TITLE
Chairman
COMPENSATION
$213K
AGE
58
TENURE
0.2 yrs

J. Rollinson

TITLE
President
COMPENSATION
$7M
AGE
56
TENURE
6.6 yrs

John Brough

TITLE
Corporate Director
COMPENSATION
$238K
AGE
71
TENURE
25.2 yrs

Ave Lethbridge

TITLE
Corporate Director
COMPENSATION
$195K
AGE
56
TENURE
3.8 yrs

Kelly Osborne

TITLE
Corporate Director
COMPENSATION
$201K
AGE
61
TENURE
3.8 yrs

Ian Atkinson

TITLE
Corporate Director
COMPENSATION
$201K
AGE
68
TENURE
3.1 yrs

John Oliver

TITLE
Director
COMPENSATION
$355K
AGE
69
TENURE
24 yrs

Una Power

TITLE
Corporate Director
COMPENSATION
$205K
AGE
53
TENURE
5.9 yrs

Kerry Dyte

TITLE
Corporate Director
COMPENSATION
$36K
AGE
58
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • Kinross Gold insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
07. Mar 19 Sell Claude J. Schimper Individual 06. Mar 19 06. Mar 19 -62,000 CA$3.24 CA$-201,104
22. Feb 19 Sell Michel Sylvestre Individual 20. Feb 19 20. Feb 19 -12,109 CA$3.79 CA$-45,930
01. Mar 19 Sell Gregory Van Etter Individual 01. Mar 19 01. Mar 19 -60,715 CA$3.36 CA$-204,002
20. Feb 19 Sell Michiel Van Akkooi Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell Gina Jardine Individual 19. Feb 19 19. Feb 19 -7 CA$3.66 CA$-26
20. Feb 19 Sell Michel Sylvestre Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell John Sims Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell Lauren Roberts Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell Paul Botond Tomory Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell Gregory Van Etter Individual 19. Feb 19 19. Feb 19 -1,055 CA$3.66 CA$-3,693
20. Feb 19 Sell J. Rollinson Individual 19. Feb 19 19. Feb 19 -7 CA$3.66 CA$-26
20. Feb 19 Sell Thomas Elliott Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell Nathan Longenecker Individual 19. Feb 19 19. Feb 19 -7 CA$3.66 CA$-26
20. Feb 19 Sell Claude J. Schimper Individual 19. Feb 19 19. Feb 19 -6 CA$3.66 CA$-22
20. Feb 19 Sell Geoffrey Gold Individual 19. Feb 19 19. Feb 19 -8,425 CA$3.66 CA$-30,823
20. Feb 19 Sell Tony Giardini Individual 19. Feb 19 19. Feb 19 -7 CA$3.66 CA$-26
02. Oct 18 Sell Gregory Van Etter Individual 01. Oct 18 01. Oct 18 -1,444 CA$2.70 CA$-3,899
09. Aug 18 Sell Claude J. Schimper Individual 08. Aug 18 08. Aug 18 -14,535 CA$3.29 CA$-47,834
03. Jul 18 Sell Gregory Van Etter Individual 02. Jul 18 02. Jul 18 -1,344 CA$2.81 CA$-3,773
29. Jun 18 Sell John Sims Individual 28. Jun 18 28. Jun 18 -16,119 CA$3.67 CA$-59,126
27. Jun 18 Sell Claude J. Schimper Individual 22. Jun 18 22. Jun 18 -11,864 CA$3.76 CA$-44,585
18. Jun 18 Sell Gregory Van Etter Individual 18. Jun 18 18. Jun 18 -105,599 CA$2.79 CA$-294,882
11. Jun 18 Sell Bobby Musgrove Individual 07. Jun 18 08. Jun 18 -18,788 CA$2.76 CA$-51,460
03. Apr 18 Sell Gregory Van Etter Individual 02. Apr 18 02. Apr 18 -1,332 CA$3.97 CA$-5,288
29. Mar 18 Sell Gregory Van Etter Individual 28. Mar 18 28. Mar 18 -80,567 CA$3.91 CA$-315,017
X
Management checks
We assess Kinross Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kinross Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

K News

Simply Wall St News

What Kind Of Shareholder Appears On The Kinross Gold Corporation's (TSE:K) Shareholder Register?

We'd expect to see institutional investors on the register. … Companies of this size are usually well known to retail investors, too. … institutional investors have bought into the company.

Simply Wall St -

How Do Kinross Gold Corporation’s (TSE:K) Returns On Capital Compare To Peers?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Should You Be Concerned About Kinross Gold Corporation's (TSE:K) ROE?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every CA$1 worth of equity in the company, it was able to earn CA$0.048. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Kinross Gold Corporation (TSE:K): Is Growth Priced In?

Kinross Gold Corporation (TSE:K) is considered a high-growth stock, but its last closing price of CA$3.8 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Check out our latest analysis for Kinross Gold? … The excitement around Kinross Gold's growth potential is not unfounded

Simply Wall St -

Does Kinross Gold Corporation's (TSE:K) CEO Salary Reflect Performance?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Rollinson's Compensation Compare With Similar Sized Companies. … According to our data, Kinross Gold Corporation has a market capitalization of CA$4.5b, and pays its CEO total annual compensation worth US$7.3m.

Simply Wall St -

Kinross Gold Corporation (TSE:K): Financial Strength Analysis

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Kinross Gold Corporation (TSE:K), with a market capitalization of CA$4.5b, rarely draw their attention from the investing community. … K’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis.

Simply Wall St -

Estimating The Fair Value Of Kinross Gold Corporation (TSE:K)

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF). … If you are reading this and its not October 2018 then I highly recommend you check out the latest calculation for Kinross Gold by following the link below

Simply Wall St -

Are Insiders Pessimistic About Kinross Gold Corporation (TSE:K) Stock?

Kinross Gold's insiders have divested from. … Generally, insiders selling shares in their own firm sends a bearish signal … A two-decade research published in The MIT Press (1998) showed that stocks following insider selling declined 2.7% relative to the market

Simply Wall St -

With An ROE Of 8.82%, Can Kinross Gold Corporation (TSE:K) Catch Up To The Industry?

and want to begin learning the link between Kinross Gold Corporation (TSE:K)’s return fundamentals and stock market performance. … With an ROE of 8.82%, Kinross Gold Corporation (TSE:K) returned in-line to its own industry which delivered 11.25% over the past year. … But what is more interesting is whether K can sustain or improve on this level of return.

Simply Wall St -

Does Kinross Gold Corporation's (TSE:K) PE Ratio Warrant A Buy?

Kinross Gold Corporation (TSX:K) trades with a trailing P/E of 10.7x, which is lower than the industry average of 10.9x. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for K Price per share = $3.57 Earnings per share = $0.334 ∴ Price-Earnings Ratio = $3.57 ÷ $0.334 = 10.7x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … At 10.7x, K’s P/E is lower than its industry peers (10.9x).

Simply Wall St -

K Company Info

Description

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver. As of December 31, 2018, its proven and probable mineral reserves included approximately 25.5 million ounces of gold, as well as 53.9 million ounces of silver. The company was founded in 1993 and is headquartered in Toronto, Canada.

Details
Name: Kinross Gold Corporation
K
Exchange: TSX
Founded: 1993
CA$5,538,877,530
1,250,310,955
Website: http://www.kinross.com
Address: Kinross Gold Corporation
25 York Street,
17th Floor,
Toronto,
Ontario, M5J 2V5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX K Common Shares The Toronto Stock Exchange CA CAD 03. Jun 1993
NYSE KGC Common Shares New York Stock Exchange US USD 03. Jun 1993
DB KIN2 Common Shares Deutsche Boerse AG DE EUR 03. Jun 1993
XTRA KIN2 Common Shares XETRA Trading Platform DE EUR 03. Jun 1993
LSE 0R2D Common Shares London Stock Exchange GB CAD 03. Jun 1993
SWX KG Common Shares SIX Swiss Exchange CH CHF 03. Jun 1993
Number of employees
Current staff
Staff numbers
8,850
Kinross Gold employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:53
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/03/16
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.