Kinross Gold Corp.
KGC - Insider Information
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+ FollowMarket Cap$25.36B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Q3 delivery + overall financial strength (good/surprising)
- Company said Q3 met its updated plan: 425k oz produced, 410k oz sold; strong Q3 margins ~ $2.75k/oz.
- Costs: Cost of sales $1.49k/oz, AISC $1.95k/oz; through 9 months cost of sales $1.4k/oz and AISC $1.83k/oz.
- Cash generation: Adjusted operating cash flow $831m in Q3 and >$3b in first 9 months; free cash flow > $1.8b through 9 months.
Capital returns are ramping up materially (good)
- Increased shareholder return target: dividends + share buybacks raised from 40% to 50% of free cash flow (full-year commitment).
- Buybacks: $230m in Q3 (8.6m shares); ~5% of outstanding shares repurchased over last 6 quarters; additional ~$100m buyback after quarter end.
- YTD: returned > $950m to shareholders and ~46% of attributable free cash flow returned in first 9 months (up from 37% in first half).
- Rating support: S&P upgraded to BBB (stable outlook); also consistent with Moody’s/Fitch.
Forecast / outlook: production and cost guidance maintained (good)
- FY2026 production guidance reiterated: 1.84m–1.86m oz (via Q4 3.45m oz quarter run-rate range stated to support annual target).
- Cost guidance reiterated:
- Cost of sales $1.42k–$1.46k/oz (as stated “per gram” in the call, but guided as gold unit economics)
- AISC $1.85k–$1.90k/oz
- Capital guidance maintained: $1.5b ± 5% for 2026.
- 2027 outlook (high-level): production expected again ~1.84m–1.86m oz; CapEx still $1.5b range but subject to inflation + additional project additions; detailed 2027 guidance to come with year-end results.
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$35.64
66.4% upside
Current Fair Value
66.4% upsideUndervalued by 66.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $25.36 Billion |
|---|---|
| Enterprise Value | $23.43 Billion |
| Annual dividend | $0.15 |
| Dividend yield | 0.77% |
| Earnings per Share | $1.99 |
| Beta | 1.41 |
| Outstanding Shares | 1,183,909,000 |
Return
| Return on Equity | 32.65% |
|---|---|
| Return on Assets | 23.18% |
| Return on Invested Capital | 34.94% |
Valuation & Multiples
| P/E Ratio | 7.68 |
|---|---|
| PEG | -884.28 |
| Price to Sales | 3.06 |
| Price to Book Ratio | 2.68 |
| Enterprise Value to Revenue | 2.8 |
| Enterprise Value to EBIT | 5.53 |
| Enterprise Value to Net Income | 7 |
| Total Debt to Enterprise | 0.03 |
| Debt to Equity | 0.08 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS Estimate
$0.53
Consensus analyst estimateRevenue Estimate
$2.02 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 17, 2027
EPS Estimate
$0.48
Consensus analyst estimateRevenue Estimate
$2.08 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 92.97% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | 90,000▼ 98.43% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.97%▼ 59.10% |
|---|---|
| Total Invested | $582.52M▼ 96.67% |
| Investors Holding | 180▼ 510.00% |
About Kinross Gold Corp.
7,100 employees
CEO: J. Paul Rollinson
Kinross Gold Corporation, along with its various subsidiary companies, concentrates its efforts on obtaining, prospecting, and establishing sites rich in gold. Its principal areas of operation are spread across the United States, Russia,...