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Canadian miner operating the high-grade Kainantu gold-copper-silver mine in Papua New Guinea.
Canadian miner operating the high-grade Kainantu gold-copper-silver mine in Papua New Guinea.
Sells concentrate, a crushed and processed ore product, to smelters and traders, which pay for the gold, copper and silver it contains less processing charges, so income follows metal prices and tonnes milled. Kainantu is its only producing mine, in Papua New Guinea, and growth has come from raising the mining and milling rate in stages.
Moat: narrow (installed base, process know-how). High-grade, low-cost underground orebody with ongoing expansion optionality.
Headquarters: Vancouver, Canada · Employees: 2,389
Size K92 Mining (KNT.TO) is a Canada Materials company (Precious Metals) with a market value of $4.86B, the 123rd largest of 420 Canada companies the cockpit tracks. Shares closed at C$27.71 on 6 Nov 2026.
Performance Over six months the shares gained 10.1%, against +1.6% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 62.5% over the last twelve months (peer median +50.3%); the operating margin is 67.9% (peer median 44.7%).
Valuation It trades at 11.0× forward earnings against a peer median of 12.4× (8th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -31 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 47.9 points above its cost of capital (9.8% WACC).
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$1.10B | C$832M | C$480M | C$270M | C$245M |
| Revenue growth | — | +73% | +78% | +10% | — |
| Gross profit | C$776M | C$587M | C$262M | C$92.3M | C$98.2M |
| EBITDA | C$804M | C$599M | C$288M | C$120M | C$112M |
| Net income | C$500M | C$378M | C$152M | C$44.8M | C$46.2M |
| Free cash flow | C$250M | C$90.8M | C$34.6M | -C$37.6M | C$1.82M |
| Capital expenditure | C$308M | C$302M | C$219M | C$138M | C$93.4M |
| Total debt | C$62.0M | C$74.8M | C$94.8M | C$6.28M | C$13.7M |
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 |
|---|---|---|---|---|---|---|
| K92 Mining KNT.TO | $4.86B | +10% | +62% | 68% | 11.0× | 0.7% |
| Harmony Gold Mining Co. Ltd. Sponsored ADR HMY | $9.84B | -3% | +50% | 45% | 5.3× | -14.1% |
| St. Barbara SBM.AX | $629M | +5% | -76% | -935% | 14.7× | n/a |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
| B2Gold BTO.TO | $7.19B | +13% | +72% | 46% | 6.1× | -7.0% |
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 | KNT.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.3% | -0.1% | 11th highest of 21 |
| 6-month return | +10.1% | +1.6% | 8th highest of 21 |
| Distance from 52-week high | -17.2% | -22.9% | 6th highest of 21 |
| Revenue growth (TTM) | +62.5% | +50.3% | 8th highest of 19 |
| Operating margin | 67.9% | 44.7% | 2nd highest of 19 |
| Forward P/E | 11.0× | 12.4× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 0.7% | -0.1% | 8th most demanding of 16 |
| Growth delivered (Del g) | +31.3% | +29.2% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | -30.5 pp | -32.4 pp | 7th most demanding of 14 |
| ROIC minus cost of capital | +47.9 pp | +19.5 pp | 2nd highest of 21 |
| EV / EBITDA | 7.9× | 5.6× | 7th most expensive of 17 |
| Net debt / EBITDA | -0.5× | -0.5× | 8th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| K92 Mining KNT.TO | Canada | $4.86B | +10% | +62% | 68% | 11.0× | 0.7% | +31.3% |
| Montage Gold MAU.TO | Canada | $4.79B | +17% | n/a | n/a | 18.4× | n/a | n/a |
| Ramelius Resources RMS.AX | Australia | $4.78B | +3% | -14% | 42% | 19.0× | 13.7% | +10.3% |
| Hunan Gold 002155.SZ | China | $4.72B | -33% | +1% | 4% | 15.3× | 11.1% | +27.4% |
| Torex Resources TXR.TO | Canada | $5.02B | +16% | +76% | 46% | 7.1× | -3.9% | +11.5% |
| JCHX MINING MANAGEMENT 603979.SS | China | $5.09B | -12% | +23% | 28% | 9.9× | -7.7% | +29.3% |
| Greatland Resources GGP.AX | Australia | $5.11B | -31% | +118% | 52% | 13.4× | -3.1% | n/a |
| Capricorn Metals CMM.AX | Australia | $4.42B | -1% | +45% | 58% | 17.6× | 12.7% | +33.9% |
| Centerra Gold CG.TO | Canada | $4.25B | +27% | +44% | 27% | 12.4× | 6.5% | +13.9% |
| Vault Minerals VAU.AX | Australia | $4.19B | +21% | +35% | 33% | 13.0× | -0.1% | +59.0% |
| SSR Mining SSRM | United States | $5.66B | -17% | +39% | 42% | 8.1× | n/a | n/a |
| Genesis Minerals GMD.AX | Australia | $5.73B | +6% | +89% | 45% | 15.1× | 7.2% | +182.9% |
| Perseus Mining PRU.AX | Australia | $5.77B | +11% | +13% | 48% | 11.8× | -1.1% | +26.4% |
| Skeena Resources SKE.TO | Canada | $3.90B | +6% | n/a | n/a | n/a | n/a | n/a |
| Pan African Resources PAF.L | United Kingdom | $3.79B | -25% | +106% | 54% | 7.2× | -6.7% | +25.7% |
| OceanaGold OGC.TO | Canada | $6.27B | -5% | +56% | 44% | 7.1× | -5.4% | +29.2% |
| Sibanye Stillwater Limited Sponsored ADR SBSW | United States | $6.30B | -29% | +59% | 26% | 5.9× | n/a | n/a |
| Aya Gold & Silver AYA.TO | Canada | $3.68B | +40% | +265% | 53% | 19.2× | 17.9% | +72.4% |
| Westgold Resources WGX.AX | Australia | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% | +33.7% |
| Triple Flag Precious Metals TFPM.TO | Canada | $6.54B | +1% | +45% | 63% | 24.7× | n/a | n/a |
| Artemis Gold ARTG.V | Canada | $6.76B | +18% | +148% | 71% | 11.3× | 6.6% | n/a |