The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Kinross Gold's quick ratio for the quarter that ended in Dec. 2023 was 0.95.
Kinross Gold has a quick ratio of 0.95. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Kinross Gold's Quick Ratio or its related term are showing as below:
KGC'
s Quick Ratio Range Over the Past 10 Years
Min: 0.89 Med: 1.17 Max: 2.17
Current: 0.95
During the past 13 years, Kinross Gold's highest Quick Ratio was 2.17. The lowest was 0.89. And the median was 1.17.
KGC's Quick Ratio is ranked worse than 65.78% of 2671
companies
in the Metals & Mining industry
Industry Median: 1.8
vs KGC: 0.95
Kinross Gold Quick Ratio Historical Data
The historical data trend for Kinross Gold's Quick Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Kinross Gold's Quick Ratio, along with its competitors' market caps and Quick Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kinross Gold Quick Ratio Distribution
For the Metals & Mining industry and Basic Materials sector, Kinross Gold's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Kinross Gold's Quick Ratio falls into.
Kinross Gold Quick Ratio Calculation
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Kinross Gold's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kinross Gold (NYSE:KGC) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Kinross Gold Quick Ratio Related Terms
Thank you for viewing the detailed overview of Kinross Gold's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2022. The company had about a decade of gold reserves at the end of 2022. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
KGC has been successfully added to your 