| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 90 | 8.6x | 17.3x | Top tier | |
Growth | 94 | 38.2% | 7.1% | Top tier | |
Quality | 89 | 33.2% | 4.5% | Top tier | |
Safety | 92 | — | 2.6x | Top tier | |
Capital Return | 90 | 0.64% | 0.06% | Top tier | |
Momentum | 32 | 4.7% | -1.6% | Bottom tier | |
Sentiment | 97 | 12 | 3 | Top tier |
The floor: what the company is worth if growth stopped today
0% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Kinross Gold Corporation extracts, processes, and sells gold from a portfolio of mines that includes Paracatu, Tasiast, La Coipa, and its U.S. operations, linking its profitability to production volumes, ore grades, recovery efficiency, and operating costs. In quarter 2 of fiscal year 2026, ended 2026-06-30, production totaled 492,000 gold-equivalent ounces, including 158,000 ounces from Paracatu and 133,000 ounces from Tasiast, which together accounted for more than half of production. U.S. operations contributed 142,000 ounces and La Coipa approximately 59,000 ounces, making mine performance and each mine's development stage directly influential in the production mix.
In quarter 2 of fiscal year 2026, ended 2026-06-30, Kinross generated revenue of 2.2 billion dollars, up 26.2% year over year, net income of 822.8 million dollars, and diluted earnings per share of 0.69 dollars. Gross margin reached 55.3% versus 51.9% in quarter 2 of fiscal year 2025, while operating margin reached 52.5% versus 44.8%. The company generated operating cash flow of 1.1 billion dollars, with cash and investments of 2.7 billion dollars versus total debt of 737.9 million dollars.
The investment case combines proven cash generation with challenges in executing the production plan: free cash flow reached 3.1 billion dollars over the last 12 months through 2026-06-30, but news dated 2026-09-24 reported reduced production forecasts for 2026 and 2027 due to obstacles at La Coipa and Round Mountain, with the annual production target revised to a range of 1.84 to 1.86 million gold-equivalent ounces. On the same date, the 2026 capital return target for shareholders was raised to 50% of free cash flow. Sustaining strong results therefore depends on resolving operational obstacles while funding the Great Bear and Lobo-Marte projects.
Q2 FY2026
Last 12 months to 2026-06-30
When: 2026-10-28
Update to the 2026 production target at the 1.84 million gold-equivalent ounce threshold
Operating margin relative to the 52.5% threshold
The median analyst price target is 39 dollars, within a range of 28 to 50 dollars across 5 analysts, providing a low-confidence indicative estimate that prices in expected growth. The discounted cash flow model yields 25 dollars, within a range of 22 to 30 dollars at a discount rate of 11.6%, measuring the value of cash expected to be generated, while the no-growth value is 25 dollars, representing current after-tax operating profit held constant in perpetuity at the same discount rate. The industry-multiple value is 24 dollars, within a range of 18 to 38 dollars, based on next year's earnings and a median multiple of 7.9 across 34 companies, measuring the company's value when priced like its peers. The cash flow and no-growth values are close to the industry-multiple value, while the median analyst price target is higher because of differences in how growth is priced; analyst targets are inherently optimistic, and the cash flow model is inherently conservative. Kinross ranks 19 out of 129 within the industry on EL7's valuation dimension, which measures the attractiveness of valuation multiples relative to peers, using data for the period ended 2026-06-30.
Figures in the text are as of 2026-10-15; the live price is shown at the top of the page.
News dated 2026-09-24 reported that operational obstacles at La Coipa and Round Mountain prompted Kinross to lower its production forecasts for 2026 and 2027. The annual production target was revised to a range of 1.84 to 1.86 million gold-equivalent ounces, after management had targeted approximately two million ounces for 2026 during the 2026-07-30 call. Meanwhile, results for quarter 2 of fiscal year 2026, ended 2026-06-30, showed net income of 822.8 million dollars and an operating margin of 52.5%, so strong reported profitability coexists with subsequently reduced operational expectations.
Operating cash flow reached 4.5 billion dollars over the last 12 months through 2026-06-30, equivalent to 138% of net income of 3.2 billion dollars. Free cash flow reached 3.1 billion dollars and share repurchases totaled 910.3 million dollars over the same period. The diluted share count declined to 1.19 billion shares in quarter 2 of fiscal year 2026, ended 2026-06-30, versus 1.23 billion shares in quarter 2 of fiscal year 2025, while the 2026 capital return target was raised to 50% of free cash flow according to news dated
Automated analysis for informational purposes only — not investment advice.
2026 capital return target at 50% of free cash flow
Management stated during the 2026-07-30 call that Great Bear and Lobo-Marte are expected to add approximately 850,000 ounces annually of higher-grade, lower-cost production in the future. Great Bear targets first production in late 2029, and detailed engineering was approximately 50% complete at the time of the call. Lobo-Marte targets first production in the early thirties of this century, with an initial plan to produce approximately 4.6 million ounces over 15 years. Permitting and construction execution remain conditions for realizing these contributions; these volumes are not current production.
Paracatu produced approximately 158,000 ounces and Tasiast approximately 133,000 ounces in quarter 2 of fiscal year 2026, ended 2026-06-30, together accounting for more than half of Kinross's production. Total production reached 492,000 gold-equivalent ounces, including 142,000 ounces from U.S. operations and 59,000 ounces from La Coipa. Round Mountain and La Coipa are also significant because news dated 2026-09-24 linked the reduction in production forecasts for 2026 and 2027 to obstacles at these mines.
The median analyst price target is 39 dollars within a range of 28 to 50 dollars and reflects growth expectations, but it is a low-confidence indicative estimate because coverage is limited to 5 analysts. The discounted cash flow valuation is 25 dollars at a discount rate of 11.6%, close to the no-growth value of 25 dollars and the industry-multiple value of 24 dollars. The difference arises because each method measures a different aspect, with analyst targets tending toward optimism and the cash flow model toward conservatism. Scotiabank also lowered its target to 39 dollars on 2026-09-24, and BofA lowered its target to 32.25 dollars on 2026-09-28.