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Canadian gold mining company operating mines across the Americas and West Africa.
Canadian gold mining company operating mines across the Americas and West Africa.
Sells gold at the market price to refiners, so profit turns on the gold price against the cost of each ounce. These are the Toronto-listed shares of the same company that trades in New York. Tasiast in Mauritania and Paracatu in Brazil are among its largest mines, and it sold its Russian mines in 2022.
In one line: Canada's mid-tier global gold producer, peer to Newmont at smaller scale.
Moat: narrow (scale, installed base). Diversified, multi-country portfolio of long-life gold mines reduces single-jurisdiction concentration risk.
Headquarters: Toronto, Canada · Founded: 1993 · Employees: 7,100
Size Kinross Gold (K.TO) is a Canada Materials company (Precious Metals) with a market value of $26.4B, the 40th largest of 420 Canada companies the cockpit tracks. Shares closed at C$31.36 on 6 Nov 2026.
Performance Over six months the shares fell 24.6%, against -11.1% for the median peer and +5.2% for the Canada market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 30.0% over the last twelve months (peer median +48.1%); the operating margin is 50.7% (peer median 49.1%).
Valuation It trades at 8.5× forward earnings against a peer median of 11.9× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 25.8 points above its cost of capital (11.0% WACC).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$11.7B | C$9.85B | C$7.05B | C$5.72B | C$4.50B |
| Revenue growth | — | +40% | +23% | +27% | — |
| Gross profit | C$6.33B | C$4.68B | C$2.14B | C$1.32B | C$893M |
| EBITDA | C$7.43B | C$5.87B | C$3.58B | C$2.41B | C$1.51B |
| Net income | C$4.41B | C$3.34B | C$1.30B | C$562M | -C$788M |
| Free cash flow | C$3.75B | C$3.53B | C$1.73B | C$458M | C$247M |
| Capital expenditure | C$2.35B | C$1.77B | C$1.53B | C$1.48B | C$1.08B |
| Total debt | C$1.07B | C$1.04B | C$2.09B | C$2.98B | C$3.58B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kinross Gold K.TO | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
| Gold.com GOLD | $1.09B | -17% | +132% | 1% | 13.8× | n/a |
| Anglogold Ashanti AU | $47.0B | -13% | +139% | 51% | 11.7× | -7.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | K.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.1% | +1.7% | 4th lowest of 21 |
| 6-month return | -24.6% | -11.1% | 3rd lowest of 21 |
| Distance from 52-week high | -41.5% | -28.0% | 6th lowest of 21 |
| Revenue growth (TTM) | +30.0% | +48.1% | 7th lowest of 21 |
| Operating margin | 50.7% | 49.1% | 11th highest of 21 |
| Forward P/E | 8.5× | 11.9× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -3.9% | 4.4% | 8th least demanding of 20 |
| Growth delivered (Del g) | +11.8% | +19.1% | 4th lowest of 20 |
| Hurdle (Req g minus delivered) | -15.7 pp | -16.3 pp | 9th most demanding of 20 |
| ROIC minus cost of capital | +25.8 pp | +9.7 pp | 7th highest of 20 |
| EV / EBITDA | 4.6× | 8.6× | 2nd cheapest of 17 |
| Net debt / EBITDA | -0.4× | -0.1× | 5th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kinross Gold K.TO | Canada | $26.4B | -25% | +30% | 51% | 8.5× | -3.9% | +11.8% |
| Northern Star Resources NST.AX | Australia | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% | +22.5% |
| Fresnillo FRES.L | United Kingdom | $24.9B | -31% | +48% | 59% | 11.8× | -8.2% | +12.6% |
| Royal Gold RGLD | United States | $22.5B | +11% | +94% | 63% | 20.9× | 10.9% | +15.6% |
| Gold Fields Limited Sponsored ADR GFI | United States | $31.5B | -13% | +71% | 53% | 9.2× | -14.1% | +17.7% |
| Evolution Mining EVN.AX | Australia | $18.3B | -4% | +28% | 42% | 13.4× | 10.8% | +24.4% |
| Pan American Silver PAAS.TO | Canada | $17.2B | -26% | +37% | 39% | 9.5× | 4.4% | +23.0% |
| Lundin Gold LUG.TO | Canada | $17.0B | +7% | +36% | 65% | 16.0× | 9.9% | +39.0% |
| Shandong Gold Mining 600547.SS | China | $16.5B | -24% | +12% | 13% | 18.9× | -5.6% | +10.6% |
| Coeur Mining CDE | United States | $15.9B | -17% | +117% | 35% | 12.1× | 10.9% | +21.6% |
| Zhongjin Gold 600489.SS | China | $15.1B | -20% | +25% | 13% | 11.4× | -5.9% | +10.5% |
| Zijin Gold International 2259.HK | Hong Kong | $46.6B | -19% | +106% | 54% | 15.7× | 17.3% | +43.4% |
| Anglogold Ashanti AU | United States | $47.0B | -13% | +139% | 51% | 11.7× | -7.7% | +17.4% |
| Franco-Nevada FNV.TO | Canada | $49.6B | +16% | +72% | 75% | 31.5× | 17.7% | +13.3% |
| Endeavour Mining EDV.TO | Canada | $13.7B | -10% | +27% | 47% | 9.3× | -6.5% | +25.4% |
| Equinox Gold EQX.TO | Canada | $13.5B | -17% | +63% | 36% | 9.7× | 21.0% | +17.5% |
| Alamos Gold AGI.TO | Canada | $13.4B | -22% | +41% | 57% | 11.3× | 7.8% | +20.3% |
| Chifeng Jilong Gold Mining 600988.SS | China | $11.6B | -2% | +23% | 43% | 17.4× | -5.7% | +22.6% |
| Wheaton Precious Metals WPM.TO | Canada | $62.3B | +7% | +89% | 73% | 29.9× | n/a | n/a |
| IAMGOLD IMG.TO | Canada | $10.8B | +6% | +83% | 48% | 9.1× | 1.4% | +19.1% |
| Barrick Mining ABX.TO | Canada | $67.2B | 0% | +49% | 52% | 10.9× | -3.0% | +7.0% |