Financial analysis kinross gold corp - kinross gold corporation is involved in the exploration, development, and production of gold in countries located in the united states, brazil, chile, ecuador and russia
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Similar a Financial analysis kinross gold corp - kinross gold corporation is involved in the exploration, development, and production of gold in countries located in the united states, brazil, chile, ecuador and russia
Similar a Financial analysis kinross gold corp - kinross gold corporation is involved in the exploration, development, and production of gold in countries located in the united states, brazil, chile, ecuador and russia (20)
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Financial analysis kinross gold corp - kinross gold corporation is involved in the exploration, development, and production of gold in countries located in the united states, brazil, chile, ecuador and russia
1. 20.02.2013
Company Analysis - Overview
Ticker: K CN Kinross Gold Corp Benchmark: Kinross Gold Corporation is involved in the exploration, development, and production
Currency: Toronto: K, Currency: CAD S&P/TSX COMPOSITE INDEX (SPTSX) of gold in countries located around the world. The Company currently has operations
in the United States, Brazil, Chile, Ecuador and Russia.
Sector: Materials Industry: Metals & Mining Year:
Telephone 1-416-365-5123 Revenue (M) 4'309 Business Segments in CAD Sales (M) Geographic Segments in CAD Sales (M)
Website www.kinross.com No of Employees #N/A N/A Gold Equivalents 4309 Unallocated Sales 1
Address 25 York Street 17th Floor Toronto, ON M5J 2V5 Canada
Share Price Performance in CAD
Price 7.86 1M Return -16.8%
52 Week High 11.47 6M Return -4.7%
52 Week Low 7.09 52 Wk Return -26.6%
52 Wk Beta 1.73 YTD Return -18.6%
Credit Ratings
Bloomberg IG8
S&P BBB- Date 15.08.2011 Outlook STABLE
Moody's Baa3 Date 21.06.2002 Outlook STABLE
Fitch BBB- Date 15.08.2011 Outlook STABLE
Valuation Ratios
12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
P/E 41.7x 146.3x 15.3x 12.6x 9.2x 8.2x 10.1x
EV/EBIT 20.1x 32.1x 9.5x 9.2x - - -
EV/EBITDA 11.9x 17.3x 6.7x 6.0x 4.3x 3.8x 4.4x
P/S 5.3x 5.2x 3.4x 2.6x 1.9x 1.8x 2.0x
P/B 2.3x 1.5x 1.1x 1.1x 0.7x 0.7x 0.7x
Div Yield 0.5% 0.5% 1.0% 1.6% 2.0% 2.0% 2.1% 100% 100%
Profitability Ratios %
12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E
Gross Margin 38.0 40.2 59.8 57.1 59.3 62.2 -
EBITDA Margin 45.3 39.9 50.1 45.5 47.9 52.2 49.6
Operating Margin 26.8 21.6 35.4 29.7 34.7 36.3 32.2
Gold Equivalents
Profit Margin 12.8 25.2 -54.0 -58.1 21.1 22.9 18.2 Unallocated Sales
Return on Assets 4.0 5.9 -12.1 -16.0 7.5 8.0 5.6
Return on Equity 6.0 7.6 -15.4 -22.5 9.2 10.2 9.0
Leverage and Coverage Ratios
12/09 12/10 12/11 12/12
Current Ratio 2.2 2.7 3.9 2.8 Current Capitalization in CAD
Quick Ratio 1.2 1.8 2.6 1.7 Common Shares Outstanding (M) 1140.1
EBIT/Interest 23.3 10.3 14.8 9.0 Market Capitalization (M) 8961.2
Tot Debt/Capital 0.1 0.0 0.1 0.2 Cash and ST Investments (M) 1972.6
Tot Debt/Equity 0.1 0.0 0.1 0.3 Total Debt (M) 2619.2
Eff Tax Rate % 26.8 27.6 - - Preferred Equity (M) 0.0
LT Investments in Affiliate Companies (M) 0.0
Investments (M) 75.1
Enterprise Value (M) 9682.9
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
2. Company Analysis - Analysts Ratings
Kinross Gold Corp
Target price in CAD
Broker Recommendation
Buy and Sell Recommendations vs Price and Target Price
Price
Brokers' Target Price
25 16
100% 5% 5% 4% 4% 4% 0% 0% 0% 5%
8% 8% 9% 14
12
80% 32%
20 10
43% 25% 26%
41% 41% 39% 39% 39% 52% 48% 33%
8
6
60% 15
4
2
10 0
40%
Morgan Stanley
BMO Capital Markets
Canaccord Genuity Corp
Barclays
RBC Capital Markets
Mackie Research Capital Corp.
Cormark Securities Inc.
GMP
Veritas Investment Research
Paradigm Capital Inc
Salman Partners
Macquarie
Scotia Capital
Credit Suisse
HSBC
National Bank Financial
Stifel Nicolaus
TD Securities
EVA Dimensions
Deutsche Bank
CIBC World Markets
67% 65% 64%
55% 55% 57% 57% 57% 57% 58%
48% 52%
20% 5
Co
0% 0
févr.12 mars.12 avr.12 mai.12 juin.12 juil.12 août.12 sept.12 oct.12 nov.12 déc.12 janv.13
Buy Hold Sell Price Target Price
Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date
31-Jan-13 64% 32% 5% 20-Feb-13 7.87 11.82 Canaccord Genuity Corp STEVEN BUTLER buy 11.90 19-Feb-13
31-Dec-12 65% 26% 9% 19-Feb-13 8.04 11.82 RBC Capital Markets STEPHEN D WALKER outperform 11.13 18-Feb-13
30-Nov-12 67% 25% 8% 18-Feb-13 8.03 11.81 HSBC PATRICK CHIDLEY overweight 15.11 15-Feb-13
31-Oct-12 58% 33% 8% 15-Feb-13 8.03 11.96 CIBC World Markets ALEC KODATSKY sector perform 11.08 15-Feb-13
28-Sep-12 52% 48% 0% 14-Feb-13 8.34 12.09 Salman Partners DAVID WEST buy 11.85 15-Feb-13
31-Aug-12 48% 52% 0% 13-Feb-13 7.91 12.63 Mackie Research Capital Corp. BARRY D ALLAN buy 12.00 15-Feb-13
31-Jul-12 57% 43% 0% 12-Feb-13 8.00 12.77 National Bank Financial PAOLO LOSTRITTO outperform 12.50 15-Feb-13
29-Jun-12 57% 39% 4% 11-Feb-13 8.00 12.76 BMO Capital Markets DAVID HAUGHTON outperform 12.53 14-Feb-13
31-May-12 57% 39% 4% 8-Feb-13 8.18 12.74 Credit Suisse ANITA SONI outperform 11.52 14-Feb-13
30-Apr-12 57% 39% 4% 7-Feb-13 8.23 12.73 Macquarie TONY LESIAK outperform 11.50 14-Feb-13
30-Mar-12 55% 41% 5% 6-Feb-13 8.20 12.73 Scotia Capital TANYA M JAKUSCONEK sector perform 11.52 14-Feb-13
29-Feb-12 55% 41% 5% 5-Feb-13 8.17 12.73 Cormark Securities Inc. RICHARD GRAY buy 12.50 14-Feb-13
4-Feb-13 8.23 12.73 GMP GEORGE V ALBINO buy 12.00 14-Feb-13
1-Feb-13 8.30 12.84 TD Securities GREG BARNES buy 12.03 14-Feb-13
31-Jan-13 8.18 12.84 Veritas Investment Research Co PAWEL RAJSZEL buy 10.00 14-Feb-13
30-Jan-13 8.39 13.00 Barclays FAROOQ HAMED equalweight 11.02 14-Feb-13
29-Jan-13 8.47 13.00 Stifel Nicolaus GEORGE J TOPPING hold 8-Feb-13
28-Jan-13 8.36 13.00 EVA Dimensions CRAIG STERLING hold 28-Jan-13
25-Jan-13 8.58 13.00 Deutsche Bank JORGE M BERISTAIN buy 11.81 15-Jan-13
24-Jan-13 9.04 13.00 Morgan Stanley PARETOSH MISRA Underwt/In-Line 10-Oct-12
23-Jan-13 9.48 13.00 Paradigm Capital Inc DON MACLEAN buy 25-Jan-12
22-Jan-13 9.80 13.00
21-Jan-13 9.88 13.00
18-Jan-13 9.45 13.05
17-Jan-13 9.37 13.05
16-Jan-13 9.49 13.08
15-Jan-13 9.56 13.08
14-Jan-13 9.29 13.31
11-Jan-13 9.31 13.31
10-Jan-13 9.32 13.31
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |
3. 20.02.2013
Kinross Gold Corp
Company Analysis - Ownership
Ownership Type
Ownership Statistics Geographic Ownership Distribution Geographic Ownership
0%
Shares Outstanding (M) 1140.1 United States 65.31%
21% 1% 1% 4%
Float 99.8% Canada 19.78% 2%
Short Interest (M) 38.3 Britain 3.39% 3%
Short Interest as % of Float 3.36% France 2.80% 3%
Days to Cover Shorts 3.50 Germany 1.52%
Institutional Ownership 78.88% Japan 1.45%
Retail Ownership 20.94% Norway 1.27%
20%
Insider Ownership 0.18% Others 4.48% 66%
79% Institutional Ownership Distribution
Investment Advisor 83.01%
Hedge Fund Manager 8.44%
Mutual Fund Manager 2.70%
Institutional Ownership Retail Ownership Insider Ownership Government 1.63%
United States Canada Britain France
Pricing data is in CAD Others 4.22% Germany Japan Norway Others
Top 20 Owners: TOP 20 ALL
Institutional Ownership
Holder Name Position Position Change Market Value % of Ownership Report Date Source Country
BLACKROCK 167'473'865 0 1'316'344'579 14.69% 31.12.2012 ULT-AGG UNITED STATES 4%
2%
VAN ECK ASSOCIATES C 59'376'977 2'536'128 466'703'039 5.21% 31.12.2012 13F UNITED STATES 3%
VAN ECK ASSOCIATES C 49'340'342 0 387'815'088 4.33% 15.02.2013 MF-AGG UNITED STATES
ROYAL BANK OF CANADA 24'321'082 14'542'877 191'163'705 2.13% 31.01.2013 ULT-AGG CANADA 8%
BMO FINANCIAL CORP 22'053'460 -1'843'737 173'340'196 1.93% 31.12.2012 13F UNITED STATES
LAZARD ASSET MANAGEM 21'571'575 -1'616'513 169'552'580 1.89% 31.12.2012 ULT-AGG
TRADEWINDS GLOBAL IN 20'641'596 -9'067'104 162'242'945 1.81% 31.12.2012 13F UNITED STATES
CAISSE DE DEPOT ET P 18'547'731 -100'100 145'785'166 1.63% 31.12.2012 13F CANADA
JP MORGAN 17'639'227 -310'195 138'644'324 1.55% 31.12.2012 ULT-AGG
JENNISON ASSOCIATES 17'311'077 -452'461 136'065'065 1.52% 31.12.2012 13F UNITED STATES 83%
FMR LLC 17'079'796 -17'854'327 134'247'197 1.50% 31.12.2012 ULT-AGG UNITED STATES
CIBC WORLD MARKETS I 16'893'867 68'796 132'785'795 1.48% 31.12.2012 13F CANADA
INVESCO LTD 16'216'880 1'845'992 127'464'677 1.42% 31.12.2012 13F UNITED STATES
HEXAVEST INC 15'130'133 3'109'489 118'922'845 1.33% 31.12.2012 13F CANADA Investment Advisor Hedge Fund Manager Mutual Fund Manager
Government Others
ALTRINSIC GLOBAL ADV 14'907'433 -259'550 117'172'423 1.31% 31.12.2012 13F UNITED STATES
FRANKLIN RESOURCES 14'669'690 -147'000 115'303'763 1.29% 31.12.2012 ULT-AGG UNITED STATES
TORONTO DOMINION BAN 14'146'557 -132'094 111'191'938 1.24% 31.12.2012 13F CANADA
PASSPORT CAPITAL LLC 14'121'122 4'740'498 110'992'019 1.24% 31.12.2012 13F UNITED STATES
FIRST EAGLE INVESTME 13'801'799 0 108'482'140 1.21% 31.12.2012 13F UNITED STATES
OPPENHEIMERFUNDS INC 13'517'771 0 106'249'680 1.19% 30.12.2012 MF-AGG UNITED STATES
Top 5 Insiders:
Holder Name Position Position Change Market Value % of Ownership Report Date Source
BURT TYE WINSTON 622'497 6'106 4'892'826 0.06% 06.07.2012 SEDI
LUNDIN LUKAS HENRIK 409'993 -18'740 3'222'545 0.04% 09.11.2010 SEDI
GOLD GEOFFREY PETER 123'310 1'953 969'217 0.01% 09.01.2013 SEDI
ROLLINSON J PAUL 89'043 2'227 699'878 0.01% 02.10.2012 SEDI
BOEHLERT THOMAS M 80'042 8'982 629'130 0.01% 01.03.2011 SEDI
Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: info@qmsadv.com |