Welcome to our dedicated page for Kinross Gold Corporation news (Ticker: KGC), a resource for investors and traders seeking the latest updates and insights on Kinross Gold Corporation stock.
Kinross Gold Corporation (NYSE: KGC; TSX: K) is a leading gold mining company headquartered in Toronto, Canada. Established in 1993, Kinross has grown to become one of the world's largest gold producers, boasting approximately 2.2 million gold equivalent ounces in production as of 2023. The company's global operations span the Americas and West Africa, with active mines in the U.S., Brazil, Chile, Ghana, and Mauritania.
Kinross is known for its commitment to operational excellence, financial discipline, and balance sheet strength. It has historically expanded its portfolio and production capacity through strategic acquisitions, such as the purchase of the Great Bear project in Canada in 2022. This project has the potential to produce over 500,000 ounces of gold annually for at least a decade if developed.
Despite selling its Russian operations in 2022 in response to geopolitical developments, Kinross remains a significant player in the gold mining industry. The company had estimated gold reserves of around 42.8 million ounces at the end of 2023, ensuring a steady production pipeline for the next decade.
Kinross is committed to responsible mining and has been consistently named to the Dow Jones Sustainability World Index, reflecting its adherence to rigorous environmental, social, and governance (ESG) standards. The company has made significant strides in its climate strategy, including the development of a 34MW photovoltaic solar facility at its Tasiast mine in Mauritania.
Financially, Kinross reported revenues of US$3.8 billion in 2013 and continues to maintain strong liquidity and financial health, with ample cash reserves and robust credit facilities. The company’s shares are traded on the Toronto Stock Exchange (TSX: K) and the New York Stock Exchange (NYSE: KGC).
For the latest updates on Kinross Gold Corporation, their projects, and financial performance, visit their official website or contact their corporate communications office.
Kinross Gold Corporation has declared a dividend of US$0.03 per common share for Q3 2022. The dividend is set to be paid on December 15, 2022, to shareholders recorded by December 1, 2022. This dividend qualifies as an “eligible dividend” for Canadian tax purposes, while non-resident shareholders will face Canadian non-resident withholding taxes. Kinross operates globally with a focus on responsible mining and operational excellence.
Kinross Gold Corporation (KGC) announced the release of its third-quarter financial statements and operating results on November 9, 2022, after market close. A conference call will follow on November 10, 2022, at 8:00 a.m. ET for discussion and Q&A. Investors can access the call via phone or webcast. Kinross operates globally, focusing on responsible mining and operational excellence across regions including the U.S., Brazil, and Chile.
Kinross Gold Corporation has announced an amendment to its normal course issuer bid (NCIB) program, increasing the maximum number of shares eligible for repurchase from 65 million to 114 million. This represents 10% of the company’s public float as of July 27, 2022. The buyback program, which began on August 3, 2022, aims to enhance shareholder returns amidst a belief that the market price may not reflect the shares' intrinsic value. As of September 27, 2022, Kinross had already repurchased approximately 14.7 million shares.
Kinross Gold Corporation (KGC) has announced a new share buyback program worth $300 million for the remainder of 2022. In 2023 and 2024, Kinross plans to allocate 75% of its excess cash to further buybacks. This initiative aims to enhance shareholder returns and reflects the company's belief in the strong value of its shares. The company is committed to maintaining its quarterly dividend while safeguarding its balance sheet. The decision followed discussions with Elliott Investment Management, which supports this capital allocation strategy.
Kinross Gold Corporation (NYSE:KGC) announced the completion of its sale of the Chirano mine in Ghana to Asante Gold Corporation for $225 million in cash and shares. The transaction includes $60 million in cash and 34,962,584 shares of Asante valued at $36.2 million. Kinross will receive $128.8 million in deferred payments over two years. The sale allows Kinross to focus on its North American operations, with 70% of 2022 production expected from this region. The company retains 9.9% ownership in Asante.
Kinross Gold Corporation has appointed Claude Schimper as Executive Vice-President and Chief Operating Officer, effective immediately. Schimper, with over 30 years of mining experience, previously held senior operational roles within the company. He will oversee the operational success of Kinross’ re-positioned portfolio, which now prioritizes production from the Americas. Paul Tomory, the former Chief Technical Officer, will leave the company on August 31, 2022. The changes aim to enhance operational oversight and facilitate Kinross's growth strategy, including an expected production increase and an average of two million gold ounces per year over the coming decade.
Kinross Gold Corporation (KGC) has announced the renewal of its normal course issuer bid (NCIB) program, allowing the purchase of up to 65 million shares, representing 5% of its outstanding common shares. The buyback period is from August 3, 2022, to August 2, 2023. The company believes that the market price may not fully reflect the value of its shares, making this buyback an attractive use of funds. This initiative is part of Kinross' commitment to enhance shareholder returns and is supported by its strong balance sheet and free cash flow position.
Kinross Gold Corporation (KGC) has reported robust plans for the second half of 2022, aiming to significantly boost production and free cash flow. The ongoing Manh Choh project in Alaska is expected to lower costs while increasing gold production. The company’s second-quarter results, ended June 30, 2022, highlight a strategic focus on enhancing operational efficiency and profitability. With positive market conditions, Kinross is poised for growth, strengthening its position in the gold sector.
Kinross Gold Corporation has declared a dividend of US$0.03 per common share for Q2 2022. This dividend will be paid on September 1, 2022 to shareholders on record by August 18, 2022. The dividend qualifies as an 'eligible dividend' for Canadian income tax, while non-resident shareholders will face Canadian withholding taxes. Kinross is a global senior gold mining company with operations in multiple countries including the US, Brazil, and Ghana, focusing on responsible mining and operational excellence.
Kinross Gold Corporation will release its financial statements and operating results for Q2 2022 on July 27, 2022, after market close. A conference call to discuss the results will occur on July 28, 2022, at 8:00 a.m. EDT, with participation details provided. The company operates mines and projects across the U.S., Brazil, Russia, Mauritania, Chile, and Ghana, focusing on operational excellence and responsible mining.
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