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Last €1.62 EUR
Change Today +0.137 / 9.23%
Volume 21.3K
KIN2 On Other Exchanges
Symbol
Exchange
Toronto
New York
Frankfurt
As of 3:39 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

kinross gold corp (KIN2) Snapshot

Open
€1.52
Previous Close
€1.48
Day High
€1.62
Day Low
€1.51
52 Week High
01/20/15 - €3.22
52 Week Low
08/27/15 - €1.41
Market Cap
1.9B
Average Volume 10 Days
29.9K
EPS TTM
--
Shares Outstanding
1.1B
EX-Date
09/19/13
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for KINROSS GOLD CORP (KIN2)

kinross gold corp (KIN2) Related Businessweek News

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kinross gold corp (KIN2) Details

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores. The company’s gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. As of December 31, 2014, its proven and probable mineral reserves included 34.4 million ounces of gold, 44.0 million ounces of silver, and 1.4 billion pounds of copper. The company was founded in 1972 and is based in Toronto, Canada.

Founded in 1972

kinross gold corp (KIN2) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice-Pr...
Total Annual Compensation: $560.3K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $396.1K
Executive Vice President of Corporate Affairs
Total Annual Compensation: $474.1K
Chief Legal Officer and Executive Vice-Presid...
Total Annual Compensation: $586.2K
Compensation as of Fiscal Year 2014.

kinross gold corp (KIN2) Key Developments

Kinross Gold Corporation Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Month Ended June 30, 2015; Provides Production Guidance for the Full Year 2015; Reports Impairment Charges for the Second Quarter Ended June 30, 2015

Kinross Gold Corporation reported unaudited consolidated earnings and production results for the second quarter and six month ended June 30, 2015. For the quarter, the company reported metal sales of $755.2 million against $911.9 million a year ago. Operating loss was $67.8 million against operating profit was $80.2 million a year ago. Loss before tax was $89.9 million against earnings before tax was $62.9 million a year ago. Net loss from continuing operations attributable to common shareholders was $83.2 million or $0.07 basic and diluted per share against profit of $46 million or $0.04 basic and diluted per share a year ago. Net loss attributable to common shareholders was $83.2 million or $0.07 basic and diluted per share against profit of $44.1 million $0.04 basic and diluted per share a year ago. Net cash flow of continuing operations provided from operating activities was $167.2 million against $163.9 million a year ago. Additions to property, plant and equipment was $128.5 million against $120 million a year ago. Adjusted net loss from continuing operations attributable to common shareholders was $13.6 million or $0.01 per share against profit of $32.9 million or $0.03 per share a year ago. Adjusted operating cash flow from continuing operations was $161.4 million or $0.14 per share against $240.3 million or $0.21 per share a year ago. For the six months, the company reported metal sales of $1,536.6 million against $1,729.3 million a year ago. Operating loss was $25.3 million against operating profit was $161.6 million a year ago. Loss before tax was $72.1 million against earnings before tax was $125.4 million a year ago. Net loss from continuing operations attributable to common shareholders was $89.9 million or $0.08 basic and diluted per share against profit of $77.8 million or $0.07 basic and diluted per share a year ago. Net loss attributable to common shareholders was $89.9 million or $0.08 basic and diluted per share against profit of $73.7 million or $0.06 basic and diluted per share a year ago. Net cash flow of continuing operations provided from operating activities was $417.3 million against $374.4 million a year ago. Additions to property, plant and equipment was $278 million against $288.9 million a year ago. Adjusted net earnings from continuing operations attributable to common shareholders were $1.7 million against $67 million or $0.06 per share a year ago. Adjusted operating cash flow from continuing operations was $376.2 million or $0.33 per share against $482.5 million or $0.42 per share a year ago. Year-to-date, the company has added approximately $45 million of cash to the balance sheet, while also repaying $30 million of debt. This has increased its cash to approximately $1.1 billion and reduced net debt to $960 million. For the quarter, the company reported impairment charges of $24.5 million. For the quarter, total gold equivalent ounces produced were 667,529 ounces against 686,130 ounces a year ago. Attributable gold equivalent ounces produced were 660,898 ounces against 679,831 ounces a year ago. For six months, total gold equivalent ounces produced were 1,303,657 ounces against 1,358,310 ounces a year ago. Attributable gold equivalent ounces produced were 1,290,258 ounces against 1,344,521 ounces a year ago. The company is tracking at the high end of 2015 guidance for production (2.4 - 2.6 million Au eq. oz.), at the low end of guidance for production cost of sales ($720 - $780 per Au eq. oz.) and all-in sustaining cost ($1,000 - $1,100 per Au eq. oz.), and below total capital expenditure guidance ($725 million).

Kinross Gold Corporation Settles its Class Action

In March 2012, a proposed class action was commenced in the Ontario Superior Court of Justice against Kinross Gold Corporation, Tye W. Burt, Paul H. Barry, Glen J. Masterman and Kenneth G. Thomas by the Trustees of the Musicians' Pension Fund of Canada. Since that time, the litigation has been vigorously contested. The defendants deny the allegations and deny any wrongdoing or liability. In April 2015, the Plaintiffs and the Defendants entered into a proposed settlement agreement. The settlement provides, if its conditions are fulfilled, that CAD 12.5 million shall be paid into an interest bearing account for the benefit of the Class. On June 17, 2015, the Ontario Superior Court of Justice approved the Settlement Agreement and the Claims and Distribution Protocol, concluding that the Settlement Agreement and the Claims and Distribution Protocol are fair, reasonable, and in the best interest of the Class. The Ontario Superior Court of Justice certified the Proceeding as a class action for settlement purposes only and approved the Settlement Agreement on behalf of a class that encompasses the following individuals and entities: All persons &entities who purchased or otherwise acquired Kinross Gold Corporation shares from Nov. 1, 2010 through &including Jan. 16, 2012 (a) on the Toronto Stock Exchange or other secondary market in Canada; or (b) who are resident of Canada or were resident of Canada at the time of acquisition; &who held some or all of those shares on Jan. 16, 2012. Excluded from the Class are the defendants, the officers and directors of Kinross during the relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns and any entity in which the defendants have or had a controlling interest. There is a proposed settlement before the United States District Court for the Southern District of New York arising from a separate proposed class action against Kinross. The U.S. Proceeding concerns only Kinross Shares that were purchased on the open market in the United States between August 11, 2011 and January 16, 2012, inclusive. Upon the occurrence of the effective date in the settlement of the U.S. Proceeding, the Class in this Proceeding shall be amended to exclude the claims of all persons who are members of the ‘Class’ within the meaning of the Stipulation of Settlement in the U.S. Proceeding, but only to the extent that the claims relate to Kinross Shares that were purchased on the open market in the United States during the U.S. Class Period. In the event that the Stipulation of Settlement is terminated and the Effective Date in the U.S. Proceeding does not occur, the Class in this Proceeding will not be amended, and residents of Canada who purchased Kinross Shares on the open market in the United States during the U.S. Class Period will be entitled to participate in this Settlement. All members of the Class who wish to obtain a payment under the settlement in this Proceeding must complete and submit an electronic 'Claim Form' by August 31, 2015 to the Claims Administrator at the following address: kinrossclassaction@marsh.com.

Kinross Gold Corporation Announces Resumption of Mining and Crushing Operations at its Maricunga Mine

Kinross Gold Corporation announced that mining and crushing operations at its Maricunga mine resumed earlier this month, ahead of the anticipated June restart target. Operations were partially suspended on March 25 following an extreme weather event in northern Chile, which caused heavy damage to local infrastructure. The ADR plant operated throughout the restart effort, producing gold from existing material in the heap leach.

 

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