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KGC

Kinross Gold Corporation

KGC

Kinross Gold Corporation • NYSE
$28.11 ▲ 2.44% (+0.67)
Market Cap $34.44 B
52w High $28.33
52w Low $8.99
Dividend Yield 0.13%
P/E 19.66
Volume 5.58M
Outstanding Shares 1.23B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.782B ▲ $82.673M ▼ $578.416M ▲ 32.457% ▲ $0.48 ▲ $1.145B ▲
Q2-2025 $1.728B ▲ $122.4M ▲ $530.7M ▲ 30.703% ▲ $0.43 ▲ $1.013B ▲
Q1-2025 $1.498B ▲ $92M ▲ $368M ▲ 24.574% ▲ $0.3 ▲ $837.2M ▲
Q4-2024 $1.416B ▼ $46.1M ▼ $275.6M ▼ 19.466% ▼ $0.22 ▼ $793.7M ▼
Q3-2024 $1.432B $97.9M $355.3M 24.811% $0.29 $834M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.734B ▲ $12.118B ▲ $4.043B ▲ $7.949B ▲
Q2-2025 $1.152B ▲ $11.489B ▲ $3.784B ▲ $7.571B ▲
Q1-2025 $706.534M ▲ $10.954B ▲ $3.615B ▼ $7.203B ▲
Q4-2024 $621.33M ▲ $10.859B ▲ $3.863B ▼ $6.858B ▲
Q3-2024 $482.836M $10.741B $3.959B $6.635B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $578.416M ▲ $981.215M ▼ $-172.495M ▲ $-231.51M ▲ $582.451M ▲ $674.906M ▼
Q2-2025 $0 ▼ $992.4M ▲ $-312.7M ▼ $-238.3M ▲ $441.9M ▲ $686.3M ▲
Q1-2025 $389.4M ▲ $597.1M ▼ $-227.8M ▲ $-286.4M ▲ $83.1M ▼ $389.4M ▼
Q4-2024 $288.2M ▼ $734.5M ▲ $-282.7M ▲ $-311.8M ▲ $138.7M ▲ $453.8M ▼
Q3-2024 $355.3M $733.5M $-318.4M $-422.6M $-7.2M $454.8M

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have rebounded strongly after a weak period a few years ago. The company moved from a loss in 2022 back to solid profitability in 2023 and even stronger results in 2024. Margins have improved meaningfully: operating profit and cash-type earnings are now much healthier than they were earlier in the five‑year period, suggesting better cost control and more efficient operations. The pattern also reflects the benefit of higher production and better realized pricing. The main risk on the income side is that results remain highly sensitive to gold prices and operational performance at a few key mines. If prices weaken or projects underperform, these improved margins could compress again.

Balance Sheet

Balance Sheet The balance sheet looks relatively steady over the last five years, with total assets and equity staying in a fairly tight range. This suggests the business has not taken on outsized risk to grow. Debt has been coming down from its peak, which reduces financial risk and interest burden. Cash levels are not excessive but appear adequate given the company’s size and access to cash generation from operations. Overall, Kinross appears to be running a conservative, reasonably well-capitalized balance sheet, though it still carries a meaningful but manageable level of debt typical for a large mining company.

Cash Flow

Cash Flow Cash flow from operations has strengthened notably in recent years, especially in the most recent period, reflecting both better profitability and more efficient operations. Free cash flow has been consistently positive across the five‑year span, even while the company continued to spend heavily on new projects and sustaining capital. That combination — ongoing investment plus surplus cash — indicates a business currently generating more cash than it consumes. The key watchpoint is that the mining sector is inherently cyclical. Large future development projects could require higher spending, and a downturn in gold prices could reduce this cash cushion.

Competitive Edge

Competitive Edge Kinross operates in a highly competitive, commodity-driven industry, but it has built several advantages. It positions itself as a relatively low‑cost producer with a strong focus on operational efficiency and disciplined cost management, which can cushion margins when gold prices are under pressure. Its mines are geographically diversified across the Americas and West Africa, which spreads political and operational risk rather than concentrating it in one country. The company also emphasizes responsible mining and strong environmental and safety practices, which can help maintain permits, community support, and access to capital. The main competitive risks are shared with peers: exposure to gold price swings, permitting and regulatory delays, and execution risk on complex expansions. Kinross’s edge comes less from unique deposits and more from how effectively it runs and expands the assets it already has.

Innovation and R&D

Innovation and R&D Kinross does not focus on traditional laboratory-style R&D, but it invests heavily in process innovation and mine engineering. Key initiatives include automation and remote-operated equipment, extensive use of data analytics for real-time monitoring, and improved ore processing techniques to squeeze more gold out of lower‑grade material. Projects like the Tasiast expansion, Round Mountain optimization, and the pipeline at Great Bear, Lobo-Marte, and others demonstrate technical expertise in expanding and extending the life of existing mines. The company also applies lean management principles, aiming for continuous improvement in productivity and safety. There is a growing emphasis on energy efficiency and renewables, such as the solar power installation at Tasiast, which can reduce both operating costs and environmental footprint. The risk is that large projects are complex and can run over budget or behind schedule, but successful execution would deepen Kinross’s operational moat.

Summary

Kinross Gold today looks like a more efficient, better-balanced miner than it was a few years ago. Profitability and cash generation have improved significantly, while the balance sheet has been strengthened by reducing debt and keeping assets and equity on a stable footing. Its competitive position rests on operational excellence, disciplined costs, and a diversified mine portfolio rather than on uniquely rare deposits. A visible pipeline of growth projects, combined with ongoing process and technology improvements, offers potential for continued production and efficiency gains. At the same time, results remain highly tied to gold prices and the successful delivery of major projects. Regulatory, geopolitical, and execution risks are inherent to the sector. Overall, Kinross appears to be running a more resilient, cash-generative business, but its future performance will continue to track the broader mining cycle and its own project execution quality.

NEWS

November 26, 2025 · 8:00 AM UTC

Tectonic Metals Intersects 1.46 g/t Au over 26 metres within Broader Zone of 0.69 g/t Au over 125 metres in First 2025 Drill Hole at Chicken Mountain, Flat Gold Project, Alaska

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November 24, 2025 · 7:30 AM UTC

Kinross Gold Drilling Returns Multiple Gold Intercepts Confirming Carlin-Type Fluids Signature at Riley Gold's PWC Project (Cortez District - Nevada)

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November 4, 2025 · 5:00 PM UTC

Kinross reports strong 2025 third-quarter results

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November 3, 2025 · 6:00 PM UTC

Riley Gold Annual General Meeting

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October 24, 2025 · 4:07 PM UTC

Kestrel Gold Inc. Announces the Resignation of a Board of Director Member

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