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Yahoo
a day ago
- Business
- Yahoo
Should You Buy Kinross Gold While it's Below $21?
Written by Aditya Raghunath at The Motley Fool Canada While gold prices are hovering near all-time highs, several gold mining stocks are yet to gain momentum in 2025. Canadian investors have the opportunity to identify high-quality gold stocks that trade at an attractive multiple and generate substantial gains going forward. Valued at a market capitalization of $25.3 billion, Kinross Gold (TSX:K) is a TSX-listed mining company that has returned over 625% to shareholders in the past decade. CEO Paul Rollinson highlighted the company's exceptional 2024 performance, delivering over 2.1 million ounces of gold production while meeting all key guidance metrics. In 2024, Kinross achieved a record free cash flow of over US$1.3 billion, representing a 100% year-over-year increase, driven by strong operational performance and favourable gold prices. Kinross demonstrated robust financial discipline by repaying US$800 million against its term loan in 2024, followed by an additional US$200 million in the first quarter (Q1), fully retiring the debt. Kinross now maintains over US$600 million in cash and approximately US$2.3 billion in total liquidity, supporting its investment-grade balance sheet. Key operational highlights included standout performances from flagship assets Tasiast and Paracatu, which together contributed over half of total production. The gold miner significantly advanced its development pipeline, particularly at Great Bear in Ontario, where an initial preliminary economic assessment confirmed the project's top-tier potential, with an estimated annual production of 500,000 ounces. Looking ahead, Kinross plans to return a minimum of US$500 million to shareholders through share repurchases this year, reaffirming its commitment to creating value for shareholders. Kinross Gold delivered robust first-quarter results, producing 512,000 gold equivalent ounces while maintaining strong margins and cash flow generation. The mining company reaffirmed its full-year guidance of two million ounces at competitive cost levels, demonstrating operational excellence across its global portfolio. Its flagship operations performed exceptionally well during the quarter. Tasiast delivered 138,000 ounces at low production costs, driven by strong grades and improved mill recoveries following optimization initiatives. Despite experiencing a brief mill shutdown due to a fire incident in April, operations have since resumed with minimal impact on annual production targets. Paracatu continued its solid performance with 147,000 ounces, supported by strong grades and enhanced recoveries from a recently implemented gravity circuit. Kinross reactivated its share-buyback program and has already repurchased $60 million in shares. After including its quarterly dividend, Kinross increased total capital returns to $650 million in Q1, representing over 300% growth compared to the same period in the previous year. Kinross continues advancing its pipeline of growth projects and mine life extensions. At Great Bear, surface construction and earthworks are progressing for the advanced exploration program, while detailed engineering has commenced for the main project's mill and infrastructure. It expects to provide resource updates for both the Curlew restart project and Round Mountain's Phase X underground development by the end of the year. The miner's development projects across multiple jurisdictions provide substantial optionality beyond current production profiles. With strong cash flow generation at current gold prices, Kinross expects to reach a net cash position by year-end while continuing to return significant capital to shareholders. Kinross maintains its commitment to operational excellence and financial discipline as it executes on both near-term production targets and long-term growth opportunities. Despite its outsized gains, Kinross stock trades at a forward price-to-earnings multiple of 13 times, which is in line with its five-year average. Analysts expect adjusted earnings per share to increase from $0.68 in 2024 to $1.26 in 2026. So, if the TSX stock is priced at 13 times earnings, it will trade around $16.4 in early 2027, above the current price of $15. The post Should You Buy Kinross Gold While it's Below $21? appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025
Globe and Mail
15-04-2025
- Business
- Globe and Mail
Kinross reports temporary suspension of mill at Tasiast
TORONTO, April 15, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K; NYSE: KGC) (the 'Company') announced today a temporary suspension of mill operations at Tasiast due to a mill fire that occurred on April 14, 2025, which has been fully extinguished. No injuries have been reported and mining operations are continuing on plan. The Company is investigating the cause of the fire, as well as assessing the damage and potential impact on the operation. The Company's initial assessment indicates that the fire was localized in the SAG discharge area. Critical spare parts are available on site and the Company is not expecting to change its guidance for Tasiast. About Kinross Gold Corporation Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC). Media Contact Victoria Barrington Senior Director, Corporate Communications phone: 289-455-1950 Investor Relations Contact David Shaver Senior Vice-President, Investor Relations & Communications phone: 416-365-2761 InvestorRelations@ Source: Kinross Gold Corporation Cautionary statement on forward-looking information All statements, other than statements of historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as to the future financial or operating performance of Kinross, constitute 'forward-looking information' or 'forward-looking statements' within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for 'safe harbor' under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include future events and opportunities including, without limitation, statements with respect to: the potential impact of the mill fire on operations at Tasiast; and our estimates, expectations, forecasts and guidance for production at Tasiast. The word 'expect' or variations of or similar such words and phrases or statements that certain actions, events or results 'may', 'could', 'will' or 'would' occur, and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Kinross referenced, contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our Annual Information Form dated March 27, 2025 and our full-year 2024 Management's Discussion and Analysis as well as: the estimated cost and projected timing of repairing and re-starting the mill being consistent with the Company's current expectations; the impact of the incident on the Company's current production guidance, mineral reserve and mineral resource estimates, and estimated overall value of Tasiast; and the estimated duration of the suspension of the SAG mill being consistent with Kinross' current expectations. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. These uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the "Risk Factors" section of our Annual Information Form dated March 27, 2025 and the "Risk Analysis" section of our full-year 2024 Management's Discussion & Analysis. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward looking statements, except to the extent required by applicable law. Other information
Yahoo
15-04-2025
- Business
- Yahoo
Kinross reports temporary suspension of mill at Tasiast
TORONTO, April 15, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K; NYSE: KGC) (the 'Company') announced today a temporary suspension of mill operations at Tasiast due to a mill fire that occurred on April 14, 2025, which has been fully extinguished. No injuries have been reported and mining operations are continuing on plan. The Company is investigating the cause of the fire, as well as assessing the damage and potential impact on the operation. The Company's initial assessment indicates that the fire was localized in the SAG discharge area. Critical spare parts are available on site and the Company is not expecting to change its guidance for Tasiast. About Kinross Gold Corporation Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile and Canada. Our focus is on delivering value based on the core principles of responsible mining, operational excellence, disciplined growth, and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC). Media Contact Victoria BarringtonSenior Director, Corporate Communicationsphone: Investor Relations ContactDavid Shaver Senior Vice-President, Investor Relations & Communications phone: 416-365-2761 InvestorRelations@ Source: Kinross Gold Corporation Cautionary statement on forward-looking information All statements, other than statements of historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as to the future financial or operating performance of Kinross, constitute 'forward-looking information' or 'forward-looking statements' within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for 'safe harbor' under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include future events and opportunities including, without limitation, statements with respect to: the potential impact of the mill fire on operations at Tasiast; and our estimates, expectations, forecasts and guidance for production at Tasiast. The word 'expect' or variations of or similar such words and phrases or statements that certain actions, events or results 'may', 'could', 'will' or 'would' occur, and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Kinross referenced, contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our Annual Information Form dated March 27, 2025 and our full-year 2024 Management's Discussion and Analysis as well as: the estimated cost and projected timing of repairing and re-starting the mill being consistent with the Company's current expectations; the impact of the incident on the Company's current production guidance, mineral reserve and mineral resource estimates, and estimated overall value of Tasiast; and the estimated duration of the suspension of the SAG mill being consistent with Kinross' current expectations. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. These uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the "Risk Factors" section of our Annual Information Form dated March 27, 2025 and the "Risk Analysis" section of our full-year 2024 Management's Discussion & Analysis. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward looking statements, except to the extent required by applicable law. Other information Where we say 'we', 'us', 'our', the 'Company', or 'Kinross' in this news release, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be in to access your portfolio
