Kinross Gold (KGC) (Seite 71)
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ISIN: CA4969024047 · WKN: A0DM94 · Symbol: KIN2
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Letzter Kurs 10:15:16 Tradegate
Neuigkeiten
25.04.24 · Gold-Silber-Rohstofftrends |
22.04.24 · kapitalerhoehungen.de |
21.04.24 · wallstreetONLINE Redaktion |
09.04.24 · globenewswire |
Werte aus der Branche Rohstoffe
Wertpapier | Kurs | Perf. % |
---|---|---|
0,7950 | +30,33 | |
227,00 | +21,91 | |
5,1500 | +21,75 | |
15.699,00 | +15,27 | |
0,7999 | +14,27 |
Wertpapier | Kurs | Perf. % |
---|---|---|
0,8950 | -7,25 | |
0,5100 | -8,11 | |
0,5400 | -8,47 | |
39,20 | -8,84 | |
46,88 | -97,99 |
Beitrag zu dieser Diskussion schreiben
So und jetzt denken wir mal über ein weiteres Highlight nach, da der kanadische Gold- und Silberförderer Kinross ja nicht nur die Mine in Tastiast hat, sondern auch Minen in Nord- und Südamerika sowie in Australien betreibt. Und da sieht die Unternehmensplanung bisher so aus:
"During its analyst call, Kinross management said that it had planned the 2016 budget considering the prices of $1,100 for gold and $65 per barrel of oil (USO) (UCO). The current prices of these variables are very favorable for Kinross."
Und wie sind in die realen Preise auf den Märkten?:
Erlöse: Preis für Gold dieses Quartal: durchschnittlich ca. 1225 US$
Kosten: Preis für Öl dieses Quartal: durchschnittlich ca. 35 US$
Somit Kosten niedriger und Erlöse höher als in der Unternehmensplanung kalkuliert. Das kann eine schöne positive Ergebnisüberraschung bei der Veröffentlichung der Quartalsergebnisse am 10.5. geben!
"During its analyst call, Kinross management said that it had planned the 2016 budget considering the prices of $1,100 for gold and $65 per barrel of oil (USO) (UCO). The current prices of these variables are very favorable for Kinross."
Und wie sind in die realen Preise auf den Märkten?:
Erlöse: Preis für Gold dieses Quartal: durchschnittlich ca. 1225 US$
Kosten: Preis für Öl dieses Quartal: durchschnittlich ca. 35 US$
Somit Kosten niedriger und Erlöse höher als in der Unternehmensplanung kalkuliert. Das kann eine schöne positive Ergebnisüberraschung bei der Veröffentlichung der Quartalsergebnisse am 10.5. geben!
Und am 18.4. und somit nur 2 Wochen nach ihrer letzten Kurszielerhöhung steigern die Analysten der National Bank dann Ihr Kursziel erneut mal eben um fast 20%!!!!!
18.04.16 15:53
National Bank Financial
Montreal (www.aktiencheck.de) - Kinross Gold-Aktienanalyse des Analysten Steve Parsons von National Bank Financial:
Laut einer Aktienanalyse rechnet Analyst Steve Parsons vom Investmenthaus National Bank Financial bezüglich den Aktien des kanadischen Goldproduzenten Kinross Gold Corp. (ISIN: CA4969024047, WKN: A0DM94, Ticker-Symbol: KIN2, NYSE-Symbol: KGC) weiterhin mit einer sektorkonformen Kursentwicklung.
Im Rahmen einer Branchenstudie zur Edelmetallindustrie seien die Bewertungsmodelle im Zuge der anstehenden Quartalsberichtssaison angepasst worden.
Die Analysten von National Bank Financial sind der Auffassung, dass die Quartalsberichte so gut ausfallen könnten wie seit 2014 nicht mehr. Stärkere Gold- und Silberpreise in Q1 würden die Quartalszahlen erheblich beeinflussen, ebenso wie Währungseffekte. Sequenzielle Verbesserungen und die Kommentare der Unternehmen sollten den Enthusiasmus für Gold- und Silberminenunternehmen stützen.
Auch wenn die Aktienkurse in den letzten Wochen Steigerungen gezeigt hätten, sei noch weiteres Aufwärtspotenzial vorhanden. Während die Rallye aber bislang auf breiter Front stattgefunden habe, dürfte es nun nur noch bei einer Handvoll von hochqualitativen Titeln zu einer Neubewertung in Richtung der Bewertungsniveaus von 2010 kommen.
Bei Kinross Gold Corp. bestehe die Möglichkeit, dass die Guidance für Q1 übertroffen werden könnte. Analyst Steve Parsons hebt das Kursziel für die Kinross Gold-Aktie von 5,25 auf 6,10 CAD an.
Die Aktienanalysten von National Bank Financial bestätigen in ihrer Kinross Gold-Aktienanalyse das Rating "sector perform".
18.04.16 15:53
National Bank Financial
Montreal (www.aktiencheck.de) - Kinross Gold-Aktienanalyse des Analysten Steve Parsons von National Bank Financial:
Laut einer Aktienanalyse rechnet Analyst Steve Parsons vom Investmenthaus National Bank Financial bezüglich den Aktien des kanadischen Goldproduzenten Kinross Gold Corp. (ISIN: CA4969024047, WKN: A0DM94, Ticker-Symbol: KIN2, NYSE-Symbol: KGC) weiterhin mit einer sektorkonformen Kursentwicklung.
Im Rahmen einer Branchenstudie zur Edelmetallindustrie seien die Bewertungsmodelle im Zuge der anstehenden Quartalsberichtssaison angepasst worden.
Die Analysten von National Bank Financial sind der Auffassung, dass die Quartalsberichte so gut ausfallen könnten wie seit 2014 nicht mehr. Stärkere Gold- und Silberpreise in Q1 würden die Quartalszahlen erheblich beeinflussen, ebenso wie Währungseffekte. Sequenzielle Verbesserungen und die Kommentare der Unternehmen sollten den Enthusiasmus für Gold- und Silberminenunternehmen stützen.
Auch wenn die Aktienkurse in den letzten Wochen Steigerungen gezeigt hätten, sei noch weiteres Aufwärtspotenzial vorhanden. Während die Rallye aber bislang auf breiter Front stattgefunden habe, dürfte es nun nur noch bei einer Handvoll von hochqualitativen Titeln zu einer Neubewertung in Richtung der Bewertungsniveaus von 2010 kommen.
Bei Kinross Gold Corp. bestehe die Möglichkeit, dass die Guidance für Q1 übertroffen werden könnte. Analyst Steve Parsons hebt das Kursziel für die Kinross Gold-Aktie von 5,25 auf 6,10 CAD an.
Die Aktienanalysten von National Bank Financial bestätigen in ihrer Kinross Gold-Aktienanalyse das Rating "sector perform".
Fortsetzung
Could the Tastiast Expansion Revive Kinross Gold's Fortunes? PART 7 OF 7
Could Tasiast Lead to a Valuation Re-Rating for Kinross Gold?
By Annie Gilroy | Apr 1, 2016 1:30 pm EDT
Valuation
The EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple is a good measure for capital-intensive industries, as it helps investors compare companies with different capital structures.
Valuation multiples
In the past, Kinross’s valuation multiple has had a very wide trading range. It has traded between 3.3x and 20x. This is what investors were willing to pay for the company based on analyst estimates. The company’s multiple reached its highest point when gold prices gained significantly in the aftermath of the global financial crisis. This also led to an expansion in the multiples of other gold companies including Newmont Mining (NEM) and Yamana Gold (AUY).
Usually, when the risk perception is lower, it results in a higher valuation multiple, and vice versa. However, Kinross Gold’s (KGC) valuation multiple, which peaked in 2009, does not necessarily mean it was less risky. It may reflect the investors’ willingness to pay more for the company due to a higher appetite for risk.
Valuation gap
Currently, Kinross is trading at a forward EV-to-EBITDA multiple of 4.2x, which, even after appreciating by 36% in last two months, is still at a 50% discount to its senior peers’ median multiple. The average discount for the last five years is close to 27%. As gold prices became more volatile, investors probably hesitated at the company’s exposure to riskier jurisdictions and imprudent merger and acquisition decisions and rewarded companies with stable production profiles in safe jurisdictions, such as Goldcorp (GG).
However, as Kinross’s recent results showed, it has been able to cut costs, improve its production profile, and reduce some of its exposure.
With the go-ahead for the Tasiast expansion, a major uncertainty has also been lifted from the stpock rice. This could lead to a re-rating for the stock.
Could the Tastiast Expansion Revive Kinross Gold's Fortunes? PART 7 OF 7
Could Tasiast Lead to a Valuation Re-Rating for Kinross Gold?
By Annie Gilroy | Apr 1, 2016 1:30 pm EDT
Valuation
The EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple is a good measure for capital-intensive industries, as it helps investors compare companies with different capital structures.
Valuation multiples
In the past, Kinross’s valuation multiple has had a very wide trading range. It has traded between 3.3x and 20x. This is what investors were willing to pay for the company based on analyst estimates. The company’s multiple reached its highest point when gold prices gained significantly in the aftermath of the global financial crisis. This also led to an expansion in the multiples of other gold companies including Newmont Mining (NEM) and Yamana Gold (AUY).
Usually, when the risk perception is lower, it results in a higher valuation multiple, and vice versa. However, Kinross Gold’s (KGC) valuation multiple, which peaked in 2009, does not necessarily mean it was less risky. It may reflect the investors’ willingness to pay more for the company due to a higher appetite for risk.
Valuation gap
Currently, Kinross is trading at a forward EV-to-EBITDA multiple of 4.2x, which, even after appreciating by 36% in last two months, is still at a 50% discount to its senior peers’ median multiple. The average discount for the last five years is close to 27%. As gold prices became more volatile, investors probably hesitated at the company’s exposure to riskier jurisdictions and imprudent merger and acquisition decisions and rewarded companies with stable production profiles in safe jurisdictions, such as Goldcorp (GG).
However, as Kinross’s recent results showed, it has been able to cut costs, improve its production profile, and reduce some of its exposure.
With the go-ahead for the Tasiast expansion, a major uncertainty has also been lifted from the stpock rice. This could lead to a re-rating for the stock.
Fortsetzung:
Could the Tastiast Expansion Revive Kinross Gold's Fortunes? PART 4 OF 7
Can Kinross’s Balance Sheet Support the Tasiast Expansion?
By Annie Gilroy | Apr 1, 2016 1:30 pm EDT
Balance sheet strength
Kinross Gold’s (KGC) balance sheet remains strong, with $700 million in cash and $1.5 billion in available credit. On March 4, 2016, Kinross announced that it had completed a bought deal public offering for the gross proceeds of $250 million.
Funding the Tasiast expansion
The Phase One capital expenditure of $300 million and stripping costs of $428 million are covered by the company’s $700 million in cash and $1.5 billion in available credit. The company’s only debt maturity prior to 2019 is $250 million of senior notes due in September 2016. The capex for Phase Two is $920 million, excluding stripping costs. With the current metal prices, Kinross should be able to fund both phases of expansion through its operating cash flow and available liquidity.
During its analyst call, Kinross management said that it had planned the 2016 budget considering the prices of $1,100 for gold and $65 per barrel of oil (USO) (UCO). The current prices of these variables are very favorable for Kinross.
Financial leverage
During the 4Q15 earnings call, the company’s management maintained that they are comfortable with the current level of debt-to-equity of roughly 30%, which they’ve maintained for the last three years. They said that given the volatility in gold prices for the last few years, the current level is comfortable for them and they would not want to tread too far outside of this level. The company’s net debt-to-forward EBITDA (earnings before interest, tax, depreciation, and amortization) is 1.5x, which is quite comfortable with the current gold prices.
As their top priority, peers Barrick Gold (ABX) and Newmont Mining (NEM) have reduced their debts to weather the current gold price volatility. Goldcorp (GG) still has lower financial leverage than its senior gold peers (GDX). Barrick forms 5.6% of the Market Vectors Gold Miners Index ETF SPDR). The SPDR Gold Trust ETF (GLD) gives exposure to gold prices.
Now that we’ve looked at Kinross’s finances and ability to fund the expansion, in the next part, we’ll see what analysts are recommending for Kinross following the Tasiast expansion announcement.
Could the Tastiast Expansion Revive Kinross Gold's Fortunes? PART 4 OF 7
Can Kinross’s Balance Sheet Support the Tasiast Expansion?
By Annie Gilroy | Apr 1, 2016 1:30 pm EDT
Balance sheet strength
Kinross Gold’s (KGC) balance sheet remains strong, with $700 million in cash and $1.5 billion in available credit. On March 4, 2016, Kinross announced that it had completed a bought deal public offering for the gross proceeds of $250 million.
Funding the Tasiast expansion
The Phase One capital expenditure of $300 million and stripping costs of $428 million are covered by the company’s $700 million in cash and $1.5 billion in available credit. The company’s only debt maturity prior to 2019 is $250 million of senior notes due in September 2016. The capex for Phase Two is $920 million, excluding stripping costs. With the current metal prices, Kinross should be able to fund both phases of expansion through its operating cash flow and available liquidity.
During its analyst call, Kinross management said that it had planned the 2016 budget considering the prices of $1,100 for gold and $65 per barrel of oil (USO) (UCO). The current prices of these variables are very favorable for Kinross.
Financial leverage
During the 4Q15 earnings call, the company’s management maintained that they are comfortable with the current level of debt-to-equity of roughly 30%, which they’ve maintained for the last three years. They said that given the volatility in gold prices for the last few years, the current level is comfortable for them and they would not want to tread too far outside of this level. The company’s net debt-to-forward EBITDA (earnings before interest, tax, depreciation, and amortization) is 1.5x, which is quite comfortable with the current gold prices.
As their top priority, peers Barrick Gold (ABX) and Newmont Mining (NEM) have reduced their debts to weather the current gold price volatility. Goldcorp (GG) still has lower financial leverage than its senior gold peers (GDX). Barrick forms 5.6% of the Market Vectors Gold Miners Index ETF SPDR). The SPDR Gold Trust ETF (GLD) gives exposure to gold prices.
Now that we’ve looked at Kinross’s finances and ability to fund the expansion, in the next part, we’ll see what analysts are recommending for Kinross following the Tasiast expansion announcement.
Zu Tastiast fand ich folgenden interessanten Report:
Could the Tastiast Expansion Revive Kinross Gold's Fortunes? PART 3 OF 7
How Will the Tasiast Expansion Benefit Kinross Gold?
By Annie Gilroy | Apr 1, 2016 1:30 pm EDT
Phase One of the Tasiast expansion
On March 30, 2016, Kinross Gold (KGC) updated the technical report for its Tasiast mine and announced that it will be going ahead with Phase One of the Tasiast expansion.
How Will the Tasiast Expansion Benefit Kinross Gold?
Phase One is expected to increase the mill throughput capacity from 8,000 to 12,000 tons per day. It will also significantly reduce the operating costs and increase production for Tasiast. Phase One is expected to reach full capacity by the end of 1Q18. The estimated capital expenditure for Phase One is $300 million, excluding $428 million in stripping costs. This will be financed by the company. The expansion is expected to increase the annual production by 87% and reduce the cost of sales per ounce by 48% from the cost in 2015.
Phase Two of Tasiast
The second phase, which is expected to increase the throughput further to 30,000 tons per day, would entail a further investment of $620 million. The company is expected to make the decision on Phase Two by the end of 2017.
Why is a phased approach better?
According to the company, a phased approach is better than a single-stage approach. With a phased approach, the estimated capital costs are $920 million, compared with the 2014 estimate of $1.6 billion for the single-stage approach. Lower capital expenditures improve the operational and balance sheet risk associated with the project.
Uncertainty regarding Tasiast has been one major factor weighing Kinross’s stock price. Investors were concerned about Kinross’s declining production profile. The Tasiast expansion should be instrumental in keeping the company’s production profile stable for years to come. Now, with the go-ahead and more clarity on Phase One, the uncertainty should lessen, benefiting Kinross’s stock price.
Peers (GDX) (GDXJ) Newmont Mining (NEM), Goldcorp (GG), and Agnico Eagle Mines (AEM) have also seen long-term production upsides due to their strong project pipelines. In the next part of this series, we’ll see how Kinross’s balance sheet is looking based on to the capital expenditures needed to finance the Tasiast Phase One expansion.
Could the Tastiast Expansion Revive Kinross Gold's Fortunes? PART 3 OF 7
How Will the Tasiast Expansion Benefit Kinross Gold?
By Annie Gilroy | Apr 1, 2016 1:30 pm EDT
Phase One of the Tasiast expansion
On March 30, 2016, Kinross Gold (KGC) updated the technical report for its Tasiast mine and announced that it will be going ahead with Phase One of the Tasiast expansion.
How Will the Tasiast Expansion Benefit Kinross Gold?
Phase One is expected to increase the mill throughput capacity from 8,000 to 12,000 tons per day. It will also significantly reduce the operating costs and increase production for Tasiast. Phase One is expected to reach full capacity by the end of 1Q18. The estimated capital expenditure for Phase One is $300 million, excluding $428 million in stripping costs. This will be financed by the company. The expansion is expected to increase the annual production by 87% and reduce the cost of sales per ounce by 48% from the cost in 2015.
Phase Two of Tasiast
The second phase, which is expected to increase the throughput further to 30,000 tons per day, would entail a further investment of $620 million. The company is expected to make the decision on Phase Two by the end of 2017.
Why is a phased approach better?
According to the company, a phased approach is better than a single-stage approach. With a phased approach, the estimated capital costs are $920 million, compared with the 2014 estimate of $1.6 billion for the single-stage approach. Lower capital expenditures improve the operational and balance sheet risk associated with the project.
Uncertainty regarding Tasiast has been one major factor weighing Kinross’s stock price. Investors were concerned about Kinross’s declining production profile. The Tasiast expansion should be instrumental in keeping the company’s production profile stable for years to come. Now, with the go-ahead and more clarity on Phase One, the uncertainty should lessen, benefiting Kinross’s stock price.
Peers (GDX) (GDXJ) Newmont Mining (NEM), Goldcorp (GG), and Agnico Eagle Mines (AEM) have also seen long-term production upsides due to their strong project pipelines. In the next part of this series, we’ll see how Kinross’s balance sheet is looking based on to the capital expenditures needed to finance the Tasiast Phase One expansion.
Analysten-Report ist zwar vom 1.4., aber achtet auf das Kursziel und die Ausführungen zur Tasiast-Expansion.
01.04.16 17:45
National Bank Financial
Montreal (www.aktiencheck.de) - Kinross Gold-Aktienanalyse des Analysten Steve Parsons von National Bank Financial:
Laut einer Aktienanalyse rechnet Analyst Steve Parsons vom Investmenthaus National Bank Financial bezüglich den Aktien des kanadischen Goldproduzenten Kinross Gold Corp. (ISIN: CA4969024047, WKN: A0DM94, Ticker-Symbol: KIN2, NYSE-Symbol: KGC) weiterhin mit einer sektorkonformen Kursentwicklung.
Kinross Gold Corp. habe eine Machbarkeitsstudie zur ersten Phase einer Tasiast-Expansion und auch Informationen zur Phase 2 vorgestellt. Die Daten würden eine robuste Wirtschaftlichkeit signalisieren. Die in Aussicht gestellte zusätzliche Produktion und die Kosten seien weit besser als angenommen.
Die Analysten von National Bank Financial sind der Ansicht, dass die positiven Studien dabei helfen sollten den Discount wegen der Produktionsrückgänge zu verringern. Allerdings seien noch weitere Projekte notwendig, um das Problem der kurzen Minenbetriebsdauer anzugehen, so Analyst Steve Parsons.
Die Aktienanalysten von National Bank Financial bestätigen in ihrer Kinross Gold-Aktienanalyse das "sector perform"- Votum, heben jedoch das Kursziel von 4,75 auf 5,25 CAD an.
01.04.16 17:45
National Bank Financial
Montreal (www.aktiencheck.de) - Kinross Gold-Aktienanalyse des Analysten Steve Parsons von National Bank Financial:
Laut einer Aktienanalyse rechnet Analyst Steve Parsons vom Investmenthaus National Bank Financial bezüglich den Aktien des kanadischen Goldproduzenten Kinross Gold Corp. (ISIN: CA4969024047, WKN: A0DM94, Ticker-Symbol: KIN2, NYSE-Symbol: KGC) weiterhin mit einer sektorkonformen Kursentwicklung.
Kinross Gold Corp. habe eine Machbarkeitsstudie zur ersten Phase einer Tasiast-Expansion und auch Informationen zur Phase 2 vorgestellt. Die Daten würden eine robuste Wirtschaftlichkeit signalisieren. Die in Aussicht gestellte zusätzliche Produktion und die Kosten seien weit besser als angenommen.
Die Analysten von National Bank Financial sind der Ansicht, dass die positiven Studien dabei helfen sollten den Discount wegen der Produktionsrückgänge zu verringern. Allerdings seien noch weitere Projekte notwendig, um das Problem der kurzen Minenbetriebsdauer anzugehen, so Analyst Steve Parsons.
Die Aktienanalysten von National Bank Financial bestätigen in ihrer Kinross Gold-Aktienanalyse das "sector perform"- Votum, heben jedoch das Kursziel von 4,75 auf 5,25 CAD an.
Mein Einstieg bei Schnitt 1,70 Euro.
Mittlerweile komme ich bereits auf einen Jahresverdienst mit meinen Anteilen.
Wollte noch den Einsatz verdoppeln, aber die erwartete Korrektur auf nochmals 2 Euro fiel aus.
Mal schauen wie schlecht der Sommer wird !
Mittlerweile komme ich bereits auf einen Jahresverdienst mit meinen Anteilen.
Wollte noch den Einsatz verdoppeln, aber die erwartete Korrektur auf nochmals 2 Euro fiel aus.
Mal schauen wie schlecht der Sommer wird !
In 2 Monaten mit Kinross 60% Plus, ist bisher die beste Aktie in meinem Depot.
Auch wenn dieser enorme Kursanstieg in kurzer Zeit mich sehr freut, ein Rücksetzer zwischendurch wäre eigentlich mal zu erwarten und technisch auch gesund.
Auch wenn dieser enorme Kursanstieg in kurzer Zeit mich sehr freut, ein Rücksetzer zwischendurch wäre eigentlich mal zu erwarten und technisch auch gesund.
Antwort auf Beitrag Nr.: 52.172.737 von Force8 am 12.04.16 19:10:19Wenn es so weitergeht Ende April?
Insbesondere KGC hat sich seit dem deutlichen Rücksetzer im Gold extrem gut gehalten mit recht geringer Volatilität (bis auf den einen -7% EOD). Sehe hier enormes Potential. Charttechnisch sollte es aber wahrscheinlich nochmal einen kleinen Rücksetzer geben? Aber schaun mer mal....
Insbesondere KGC hat sich seit dem deutlichen Rücksetzer im Gold extrem gut gehalten mit recht geringer Volatilität (bis auf den einen -7% EOD). Sehe hier enormes Potential. Charttechnisch sollte es aber wahrscheinlich nochmal einen kleinen Rücksetzer geben? Aber schaun mer mal....
Antwort auf Beitrag Nr.: 52.172.737 von Force8 am 12.04.16 19:10:19
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