Kinross Gold Corp is a gold mining and exploration company based in Toronto, Canada. The company was established in 1993 and has an impressive market cap of over 6.6 billion dollars. One of the leading names in the gold production market, Kinross Gold owns mines in four continents, in countries including the US, Chile, Ghana, and Mauritania. It was ranked as the fifth-best name in the industry by Investing News. Read on for a complete and up-to-date profile of Kinross Gold’s activities, operations, and market data.
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What Does Kinross Gold Do?
As a corporation, KGC operates in the following business segments:
- Acquisition of gold-bearing properties and other metal ore
- Projects to support mining communities
- Investment opportunities
Acquisition
Acquisition of gold-bearing properties is the central enterprise at Kinross Gold. The precious metal is collected, processed, and refined as part of the operations. As one of the world’s leading mining companies, KGC controls a reserve of more than 24 million ounces of gold. To date, more than 55.7 million ounces of silver produced from Kinross Gold mines have also entered the international market.
Support
KGC is also heavily involved in various mining support projects in many of its locations. It works to promote sustainability, ethical mining practice and sets a standard for how to benefit a community and make money at the same time. The environmentally aware practices in place at all seven of KGC’s mines have earned the business multiple awards and recognitions from organizations such as the WWF.
Investments
Investors can make trades and buy stocks in the company, as it is publicly traded. Gold prices can fluctuate, but the attraction never dims, making it a popular and potentially lucrative investment choice. Because KGC is ranked highly amongst the competition, many people may view it as a solid investment choice.
What Countries does the Company Work in?
American Operations
The USA gold mining market generates more than a quarter of the company’s total income. Since Kettle River, Buckhorn- one of the first successful KGC operations- the resources and standards have sky-rocketed upwards. Although the corporate headquarters are based in Canada, the US is by far the most influential region for the organization as a whole.
Fort Knox
Fort Knox is a jewel in the Kinross Gold crown. Having poured more than 8,000,000 ounces of gold over the last 20 years, it is no surprise that Fort Knox is considered an exemplary US mining operation. Know not only for highly successful revenue but it is also recognized by the National Mining Association for excellence in safety.
Round Mountain, Nevada
Round Mountain is one of Kinross Gold’s most lucrative mines. Since 2003, it has produced more than 15 million ounces of gold and other ore of value. Since 2016, Round Mountain has been the exclusive property of KGC.
Bald Mountain, Nevada
One of the most recent additions to the portfolio is Bald Mountain, which became an exclusive KGC property in 2018. It is the USA’s single largest private mining land package and is expected to produce more than 3,500,000 ounces of stock resources.
Paracatu in Brazil is also an important acquisition site for the company. The open-pit mine is the biggest in Brazil and is owned exclusively by Kinross Gold Corp. It is also one of the largest mines in the world, expected to continue production until 2031. La Coipa in Chile is under refurbishment and is due to restart in 2022.
Sites in the Russian Federation
The company has enjoyed a long and prosperous exploration history in Russia. In the last 25 years, underground mines in the country’s far east have accounted for around a fifth of total gold revenue. Because of the low costs, the Russian Federation mining program operates at the following sites are of great value.
Dvoinoye
One of KGC’s most successful Russian mines operated until 2020. It ran for many years and produced an impressive amount of metal ore. Mining ceased, but the stock is currently still processed at a nearby site. Expected estimates say this should continue until 2024.
Kupol
Russia’s leading underground mine is Kupol, which is where the bulk of all production and processing operates for KGC. The life expectancy of this mine- which is one of the most active mines in the company’s portfolio- reaches until 2025. A new development priority for the is the high-quality Chulbatkan mining license that has recently been approved for the exploration company. It means that a new pit is planned to open in Udinsk by the year 2025.
West Africa
Ghanaian and Mauritanian mines manage to produce at a far lower cost than many other areas of the world while maintaining the highest quality and safety. Both countries offer excellent growth potential, and the current sites manage to live up to expectations year after year.
Chirano, Ghana
The Ghanaian Government holds a 10% stake in this mine, which is expected to last until 2025. Located just outside one of the country’s most populated cities, the mine has not only yielded excellent revenue but has also created many jobs and incomes for local families.
Tasiast, Mauritania
Every year, the Tasiast open-pit sets new records for production highs and price lows. The development of this mine has created a whole new employment market in Mauritania.
Kinross Gold and Ethics
Of all the mining companies currently working internationally, Kinross Gold is rated amongst the very best in ethical conduct and sustainability. Transparency is an integral part of the company’s foundation and helps them maintain its reputation for following the strictest conduct and highest standards.
KGC has won awards for safety because of how well it manages workers’ rights and protocols. It is also recognized in Russia for excellence in environmental transparency by the WWF. Every time a mine shuts down, the land is returned to a safe and stable condition. It means that the mined land can go to serve a meaningful purpose for a new community if necessary. The idea is to leave the land as close to the condition it started in.
Additionally, Kinross Gold takes into account the potential socio-economic value it can have. Interested in more than trades, stocks, and profits, KGC puts money back into the communities it works with through job creation, tax, and land procurement. The “benefit footprint” is used to measure what positive impact is possible during the acquisition process.
Kinross Gold Stock Price and Market Data
With a market cap value of more than six and a half billion, Kinross Gold is a fully-fledged industry giant. The gold market has always been attractive to investors and continues to be despite the decline in stock quotes in the 52-week range. To date, the Canada-based Kinross Gold compares well to the competition on the NYSE, and the analysis of the company data comes out above most. Here is a market data and stock quotes summary calculated by the NYSE.
- Market Cap: 6.663 Billion
- Dividend Yield: 2.27% or 0.12
- 52 Week Range: 5.33-9.42
- Sidebar Close: 5.32
- P E Ratio: 5.18
- Stock Price: 5.23 (- 0.04/0.73%)
The latest stock price value according to the NYSE is 5.23: minus 0.04 (0.73%). When you look at the 52-week range, 5.33 is the average, but the recent value of stocks has been consistently lower in the last quarter. Trades and stocks have taken a hit, with a 52-week change of -40.47. The 52 weeks’ high for trades was 9.45, and the current stock price is the 52 week low, sitting at 5.23. The stock forecast estimates are positive for Kinross Gold, with revenue, growth, and income expected to increase dramatically in 2022. When you take into account the effects the pandemic had on the industry as a whole, 2021 was not a bad year.
Kinross Gold Competitors and Comparison
Barrick Gold is one of KGC’s biggest competitors, and the two are often compared. Both corporations have very similar market data. The dividend yield is almost identical, but Barrick has a higher P/E ratio, coming in at an average of 6.426. Although Barrick stocks trade higher, for now, the overall valuation at KGC is higher. Premium prices detract from the appeal of Barrick Gold, while forward momentum and efficient operational practices give KGC the lead.
The Motley Fool tips Yamaha Gold as the better investment over KGC due to its impressive discipline and dedication to reducing debt. Yamaha has a dividend yield of 2.53% and a current stock trading price of 5.80. There is no denying that Kinross has a better investment outlook and a much larger operation, but Motley Fool appreciates Yamaha’s approach to business.
Frequently Asked Questions
How has the pandemic affected companies such as Kinross Gold?
Like most industries, gold production took a hit during 2020. The price of gold reached record highs, which was great for investors but not for buyers. Because shops were closed, fewer people were buying gold jewelry and the retail industry suffered. Kinross Gold and its competitors lost time due to restrictions, but according to data shared at the end of 2020, everything was back on track. News varies and speculations are common. The stock price is low, having decreased steadily over a 52-week comparison, but the market cap remains staggeringly high and money made to date for 2021 looks promising.
Is Kinross Gold a Good Investment?
Many trading experts say KGC may be undervalued as an investment. Considered a value position, it shows promising room for growth. The stock price is low: invertors may decide to take a calculated risk based on the 52-week data and the hype in the news that suggest that price has every chance to go up.
Where Is the Company Based?
Kinross Gold Corp does business in all corners of the world, but the company operates out of Toronto, Canada. There is no mining based in Canada. KGC mines are currently based in Russia, the USA, Brazil, Chile, Ghana, and Mauritania. Although
What Are Gold Bearing Properties?
Gold-bearing property refers to a material that has gold within it. In mining, this is often in a rock vein known as a lode or on the surface or placer. You can identify a gold-bearing property through a process known as iron staining.
Final Thoughts
Kinross Gold Corp is no small fish. To date, KGC mines have produced around 100 million ounces of gold. It is by no means newsworthy that gold remains a valued and in-demand commodity. As one of the top gold mining operations in the world, KGC has a lot to live up to, and it does. The price of gold remains high, and investors are always interested in ways to get involved. As an ethically responsible, highly professional operation with a long-standing reputation, the Kinross Gold Corporation is the first port of call.
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About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
