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K.TO (K) Fair Value & Analysis

Basic Materials · CA · Market cap C$37.8B (≈ $27.3B) · ISIN CA4969024047

What is K.TO really worth?

KT K.TO K · TO
PriceC$42.69
Fair ValueC$34.62
Upside−18.9%
Quality85/100

A strong business, but trading 23% above our fair value of C$34.62.

As of Aug 14, 2026, the fair value of K.TO is C$34.62 per share against a price of C$42.69, so the fair value sits 19% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +11.2 %/yr)
Highly profitable · 36.0% net margin
Low debt · generates free cash flow
Wide moat 89/100

Risks

!Evidence only low, so the estimate is less certain

For context

·0.34% dividend yield
Evidence: Low Range C$25.97 – C$60.91

Fair value as of: Aug 14, 2026

From 26 valuation models · updated 23 days ago

Share price +18.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 85/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • A fairly wide model range (C$25.97 to C$60.91) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

C$51.78 C$3.75 Fair Value C$34.62 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range C$3.75 – C$51.78 · fair‑value band C$25.97 – C$60.91 · the C$42.69 price screens above the C$34.62 fair value. Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

K.TO (K) currently trades at C$42.69, while our model-based Fair Value estimate is C$34.62, implying the stock looks roughly 23.3% overvalued today. The Quality Score stands at 85/100 (high quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of C$53.52 per share, and 9 of the 26 models we run sit above the C$42.69 price. Bear case: the Asset-Based group reads lowest at C$4.80, and 17 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, K.TO generated revenue of C$8.0B at a net margin of 36.0%. Revenue grew 60.8% year over year. It earns a return on equity of 35.5%. The balance sheet holds a net cash position of C$975M. Fundamentals as of Aug 14, 2026

Our scenario range runs from C$25.97 (bear case) to C$60.91 (bull case); at C$42.69, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −12% fair-value upside, at −19%, K screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly C$2.18 per share, which is 6.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF C$32.77 C$57.81 C$123.92 75
EPV C$19.68 C$22.82 C$25.57 74
Growth DCF C$31.66 C$64.18 C$121.13 74
All 26 models by family
DCF Models
FCF DCF C$32.77 C$57.81 C$123.92 75
Owner Earnings C$30.57 C$64.25 C$131.39 71
5Y Revenue Exit C$14.78 C$22.85 C$34.26 72
5Y EBITDA Exit C$28.47 C$53.52 C$89.11 73
5Y P/E Exit C$27.87 C$52.99 C$84.03 69
10Y Revenue Exit C$19.93 C$30.70 C$45.28 66
10Y EBITDA Exit C$29.65 C$54.96 C$98.22 65
10Y P/E Exit C$29.23 C$53.90 C$93.52 61
Earnings-Based
Graham-Dodd C$13.85 C$87.38 C$122.08 63
Lynch FV C$25.22 C$36.03 C$46.84 61
PEG = 1.0 C$25.22 C$36.03 C$46.84 57
EPV C$19.68 C$22.82 C$25.57 74
Dividend Discount
Gordon GGM C$1.19 C$2.47 C$3.93 66
DDM Multi-Stage C$1.19 C$2.09 C$2.60 66
Multiples
P/E Multiple C$25.97 C$34.62 C$43.28 63
P/S Multiple C$6.76 C$9.01 C$11.27 58
P/B Multiple C$16.13 C$21.51 C$26.88 55
EV/EBIT C$28.10 C$37.18 C$46.26 66
EV/EBITDA C$27.69 C$36.64 C$45.58 67
EV/Revenue C$7.16 C$9.86 C$12.57 54
Asset-Based
NCAV (Graham) C$3.58 C$4.80 C$7.17 54
Growth DCF
Growth DCF C$31.66 C$64.18 C$121.13 74
Rev-Margin DCF C$14.78 C$23.16 C$35.10 72
Economic Profit
Residual Income C$15.40 C$23.36 C$239.23 64
ROIC Compounder C$23.40 C$32.23 C$44.06 71
Growth Earnings
Growth-Adj P/E C$32.80 C$46.85 C$60.91 67

Widest divergence: DCF Models (C$53.52) versus Dividend Discount (C$2.09). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 12.8
P/S ratio 4.33 P/E × margin
EPS (TTM) C$3.34 price ÷ EPS = P/E 12.8
Dividend yield 0.3% payout 4.3%
Net margin 33.9% FY2025
Return on equity 35.5% TTM
More key figures
Profitability
Return on assets (EBIT) 10.6% avg 5y
Operating margin 55.1% TTM
Growth
Revenue (TTM) C$8.0B TTM
Revenue growth (YoY) +60.8% 3y avg +27.6%
EPS growth (YoY) +134%
Balance sheet & cash flow
Free cash flow C$2.6B FY2025
Net cash C$975M FY2025

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 85/100

Of which business quality 81 · Market factors (momentum, volatility) 51

Profitability 77
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)
Net Issuance 93
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

Full company description

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver. The company was founded in 1993 and is headquartered in Toronto, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

K.TO reported revenue of $7.2B in FY2025 versus $3.7B in FY2021, a compound +17.8%/yr. Reported net income was $2.4B in FY2025, compounding +82.1%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$7.2B
Latest YoY
+39.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+27.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.2%
Avg. revenue growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+26.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +28.7% (approximate, leans on 2025) · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+28.4%
Dividend yield0.3%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.45.1% (2020) → 43.2% (2025) · falling
Worst earnings drop317% (2008) (loss year, drop beyond 100%) · in CAD
⚠ Rate leans on 2025: that final year sits 259% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue +17.8%/yr
FY21 $3.7B
FY22 $3.5B
FY23 $4.2B
FY24 $5.1B
FY25 $7.2B
Net income +82.1%/yr
FY21 $221M
FY22 −$605M
FY23 $416M
FY24 $949M
FY25 $2.4B

K screens 23% overvalued. Compare with Newmont Corporation →

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Cite: Fair Value Calculator (2026). "K.TO Fair Value". https://www.fairvalue-calculator.com/stock/K.TO

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Gold · 244 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Dividend yield (TTM) 0.3% · Bottom 25%

Valuation Multiples vs Gold median · lower = cheaper

P/E (TTM) 12.8× · Pricier than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Gold stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
Newmont Corporation NEMCL $128.00 $112.82 −12%
Zijin Mining Group 601899 ¥32.21 ¥39.42 +22%
Agnico Eagle Mines Limited AEM C$268.76 C$213.40 −21%
Barrick Mining Corporation B $41.23 $50.66 +23%
Franco-Nevada Corporation FNV $266.18 $96.63 −64%
Wheaton Precious Metals Corp WPM C$201.40 C$56.05 −72%
AngloGold Ashanti plc AU $97.92 $88.63 −9%
Kinross Gold Corporation KGC $30.87 $34.62 +12%
Royal Gold, Inc RGLD $262.85 $93.56 −64%
Northern Star Resources Limited NST A$23.19 A$15.98 −31%

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Frequently asked questions

Is K.TO (K) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of C$34.62 versus a price of C$42.69, about −19% upside (overvalued).
What is the fair value of K?
Our model-based fair value for K.TO is C$34.62 (as of Aug 14, 2026), built from audited fundamentals. The current price: C$42.69.
What is the quality score of K?
K.TO has a Quality Score of 85/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for K.TO (K)?
Our model-based price target is the fair value of C$34.62 (as of Aug 14, 2026) from 26 valuation models. Cautious scenario C$25.97, optimistic scenario C$60.91. It is a calculation from audited fundamentals, not an analyst target.
What is the K.TO stock forecast for 2026?
Our models put fair value at C$34.62, about −19% upside versus a price of C$42.69 (overvalued). Cautious scenario C$25.97, optimistic scenario C$60.91. The calculation is refreshed regularly with new filings.
What is the revenue of K.TO (K)?
K.TO reported trailing-twelve-month revenue of about C$8.0B (latest available figure, as of Aug 14, 2026).
What is the net profit margin of K?
The net profit margin of K.TO is about 36.0%, meaning it keeps roughly 36.0% of revenue as net income. Based on the latest reported figures.
Does K.TO pay a dividend?
K.TO currently shows a dividend yield of about 0.34% relative to its recent price (as of Aug 14, 2026).
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