Frage zu einer G Aktie - 500 Beiträge pro Seite

[germanos]

kann mir einer ein paar infos darüber geben?????
danke

[germanos]

weis über dise aktie würklich keiner was ??????

[BerndC]

Ist wohl eine kanadische Goldminengesellschaft die derzeit mit Verlusten arbeitet. Um in die Gewinnzone zu kommens ollte der Goldpreis dauerhaft über US$285 liegen. Das könnte in diesem Jahr der Fall sein, denn soviel wie ich weiss endet dieses Jahr der Verkauf der Goldbestände der englischen Notenbank. Ausserdem gibt es wohl Bestrebungen einiger grosser Goldminengesellschaften das Angebot von Gold zu verknappen um höhere Gewinne zu erzielen. Sollte der Kurs dauerhaft über $300 liegen, dürfte sich der Kurs dieser Aktie mehr als verdoppeln.

[weisenstein]

MfG W.
Officers
Chairman & Chief Executive
Robert M. Buchan
President & Chief Operating Officer
Arthur H. Ditto

Executive Vice President
John W. Ivany

Vice President Finance & Chief Financial Officer
Brian W. Penny

Vice President & Treasurer
Christopher T. Hill


Earnings / Dividends (as of 9/30/01)
Earnings Dividends
Most Recent Qtr -0.05 0.00
Last 12 Months -0.60 0.00
Ratio Analysis


Price / Earnings Ratio N/A Dividend Yield 0.00%
Price / Sales Ratio 1.22 Payout Ratio N/A
Price / Book Ratio 1.48 % Held by Insiders 17.00%

Address
40 King St West
Toronto ONTARIO M5H 3Y2
Canada
Phone [phone]
Home Page http://www.kinross.com





2000 Sales:
402,326,600

Major Industry:
Metal Producers & Products Manufacturers

Sub Industry:
Gold Producers

Country:
Canada

Currency:
Canadian Dollars

Fiscal Year Ends:
December

Employees
2,800

Exchanges:
NYSE MON TOR OTH

Share Type:
Common

Market Capitalization:
491,119,000

Total Shares Outstanding:
301,300,000

Closely Held Shares:
51,226,890




COMPANY RESEARCH REPORT:Kinross Gold Corporation
Data as of: 2/1/02


Company Description

Kinross Gold Corporation(KINROSS). Mining and processing of gold and silver ore and the exploration for and acquisition of gold-bearing properties, principally in the Americas, Russia, Australia and Africa.


Competitor Analysis
Kinross Gold Corporation operates within the Gold ores sector. This analysis compares Kinross Gold with three other companies in this sector in Canada: TVX Gold Incorporated (2000 sales of 252.43 million Canadian Dollars [US$158.66 million] of which 100% was Precious metals), Meridian Gold Inc (190.44 million Canadian Dollars [US$119.70 million] of which 100% was ), and Cambior Inc (311.65 million Canadian Dollars [US$195.88 million] of which 100% was Gold and Other Metals).


Sales Analysis
During the first quarter of 2001, sales at Kinross Gold totalled C$96.58 million. This is a drop of 6.1% from the C$102.80 million in sales at the company during the first quarter in 2000. During the previous 7 quarters, sales at Kinross Gold have fallen vis-à-vis the same quarter in the previous year.

During the year ended December of 2000, sales at Kinross Gold were C$402.33 million (US$252.88 million). This is a decrease of 10.8% versus 1999, when the company`s sales were C$451.11 million.


Recent Sales at Kinross Gold 182
279
240
401
451
402

1995 1996 1997 1998 1999 2000
(Figures in Millions of Canadian Dollars)
Although Kinross Gold is headquartered in Canada, it derives most of its sales outside of its home market: sales in Canada were C$62.35 million which was only 15.5% of 2000`s sales. On a geographical basis, contributing to the decline in the company`s sales in 2000 were the declines in Canada, where sales dropped 26.2% to C$62.35 million. Sales in the United States were also lower, falling 7.6% (to C$183.94 million) .


The company currently employs 2,800. With sales of C$402.33 million (US$252.88 million) , this equates to sales of US$90,314 per employee.


Sales Comparisons (Fiscal Year ending 2000) Company Sales
(mlns) Sales
Growth Sales/
Emp (US$) Largest Region
Kinross Gold 402.327 -10.8% 90,314 the United States (45.7%)
TVX Gold Incorporated 252.427 4.5% N/A Brazil (33.6%)
Meridian Gold Inc 190.439 80.1% 460,378 Western Europe (82.9%)
Cambior Inc 311.649 -36.4% 122,427 France (53.3%)



Recent Stock Performance

In recent years, this stock has performed terribly. In 1996, the stock traded as high as C$14.63, versus C$1.63 on 2/1/02.

The stock price has more than doubled recently: For the 52 weeks ending 2/1/02, the stock of this company was up 139.7% to C$1.63. During the past 13 weeks, the stock has increased 19.0%. During the past 52 weeks, the stock of Kinross Gold has outperformed the three comparable companies, which saw changes between -63.2% and 134.0%.

During the 12 months ending 9/30/01, the company has experienced losses totalling C$0.60 per share. These 12 month earnings are greater than the earnings per share achieved during the last fiscal year of the company, which ended in December of 2000, when the company reported earnings of -0.67 per share. Note that the earnings number - includes a 0.29 pre-tax charge in 2000.

This company is currently trading at 1.22 times sales. The three companies vary greatly in terms of price to sales ratio: trading from 0.30 times all the way up to 7.92 times their annual sales. Kinross Gold is trading at 1.48 times book value.


Summary of company valuations (as of 2/1/02). Company P/E Price/
Book Price/
Sales 52 Wk
Pr Chg
Kinross Gold N/A 1.48 1.22 139.70%
TVX Gold Incorporated N/A 0.13 1.30 -63.20%
Meridian Gold Inc 19.4 9.83 7.92 114.54%
Cambior Inc N/A 0.58 0.30 133.96%

The market capitalization of this company is C$491.12 million (US$308.69 million) . The capitalization of the floating stock (i.e., that which is not closely held) is C$407.62 million (US$256.20 million) .


Dividend Analysis
This company has paid no dividends during the last 12 months. The company also reported losses during the previous 12 months. The company has not paid any dividends during the previous 6 fiscal years.


Profitability Analysis

On the C$402.33 million in sales reported by the company in 2000, the cost of goods sold totalled C$298.40 million, or 74.2% of sales (i.e., the gross profit was 25.8% of sales). This gross profit margin is lower than the company achieved in 1999, when cost of goods sold totalled 68.9% of sales.

Kinross Gold`s 2000 gross profit margin of 25.8% was lower than all three comparable companies (which had gross profits in 2000 between 27.0% and 53.5% of sales).

The company`s earnings before interest, taxes, depreciation and amorization (EBITDA) were C$88.48 million, or 22.0% of sales. This EBITDA margin is worse than the company achieved in 1999, when the EBITDA margin was equal to 23.8% of sales. The three comparable companies had EBITDA margins that were all higher (between 24.9% and 48.5%) than that achieved by Kinross Gold.

In 2000, earnings before extraordinary items at Kinross Gold were -C$187.65 million, or -46.6% of sales. This profit margin is an improvement over the level the company achieved in 1999, when the profit margin was -78.2% of sales. The company has reported losses before extraordinary items for each of the past 4 years. (1997 was the last year the company reported profits from ordinary operations, when it reported C$14.25 million in earnings).

The company`s return on equity in 2000 was -35.1%. This was an improvement over the -39.5% return the company achieved in 1999. (Extraordinary items have been excluded).

Profitability Comparison Company Year Gross
Profit
Margin EBITDA
Margin Earns
bef.
extra
Kinross Gold 2000 25.8% 22.0% -46.6%
Kinross Gold 1999 31.1% 23.8% -78.2%

TVX Gold Incorporated 2000 34.0% 30.1% 0.1%
Meridian Gold Inc 2000 53.5% 48.5% 31.7%
Cambior Inc 2000 27.0% 24.9% -35.0%


During the first quarter of 2001, Kinross Gold reported a loss per share of C$0.03. The company also reported losses during the first quarter of 2000, of C$0.04 per share.


Inventory Analysis
As of , the value of the company`s inventory totalled C$67.16 million. Since the cost of goods sold was C$298.40 million for the year, the company had 82 days of inventory on hand (another way to look at this is to say that the company turned over its inventory 4.4 times per year). In terms of inventory turnover, this is an improvement over , when the company`s inventory was C$75.70 million, equivalent to 89 days in inventory.



Financial Position
As of , the company`s long term debt was C$345.07 million and total liabilities (i.e., all monies owed) were C$574.72 million. The long term debt to equity ratio of the company is 0.73.

As of , the accounts receivable for the company were C$45.12 million, which is equivalent to 41 days of sales. This is an improvement over the end of 1999, when Kinross Gold had 52 days of sales in accounts receivable.


Financial Positions
Company Year LT Debt/
Equity Days
AR Days
Inv.
Kinross Gold 2000 0.73 41 82
TVX Gold Incorporated 2000 1.89 64 108
Meridian Gold Inc 2000 0.10 4 36
Cambior Inc 2000 0.10 10 26