Workflow
Kinross(KGC)
icon
Search documents
Kinross(KGC) - 2024 Q3 - Quarterly Report
2024-11-05 22:11
Exhibit 99.1 KINROSS GOLD CORPORATION MANAGEMENT'S DISCUSSION AND ANALYSIS For the three and nine months ended September 30, 2024 This management's discussion and analysis ("MD&A"), prepared as of November 5, 2024, relates to the financial condition and results of operations of Kinross Gold Corporation together with its wholly owned subsidiaries, as at September 30, 2024 and for the three and nine months then ended, and is intended to supplement and complement Kinross Gold Corporation's unaudited interim co ...
Kinross reports strong 2024 third-quarter results
GlobeNewswire News Room· 2024-11-05 22:00
Core Viewpoint - Kinross Gold Corporation reported strong financial and operational results for Q3 2024, highlighting significant margin growth, record free cash flow, and a continued focus on debt repayment and operational efficiency [1][2][3]. Financial Highlights - Production of 564,106 gold equivalent ounces (Au eq. oz.) in Q3 2024, a 4% decrease from 585,449 Au eq. oz. in Q3 2023 [7]. - Revenue increased to $1,432.0 million, up from $1,102.4 million in Q3 2023 [7]. - Reported net earnings of $355.3 million, or $0.29 per share, compared to $109.7 million, or $0.09 per share, in Q3 2023 [7][8]. - Attributable free cash flow reached a record $414.6 million, tripling from $137.7 million in Q3 2023 [7][8]. - Operating cash flow was $733.5 million, compared to $406.8 million in Q3 2023 [7][8]. Cost and Margin Analysis - Production cost of sales per Au eq. oz. sold was $976, up from $911 in Q3 2023 [7][8]. - Margins increased by 47% to $1,501 per Au eq. oz. sold, compared to $1,018 in Q3 2023 [7][8]. - Attributable all-in sustaining cost per Au eq. oz. sold was $1,350, compared to $1,296 in Q3 2023 [7][8]. Operational Performance - Tasiast continued to perform well with higher mill throughput rates, while Fort Knox saw increased cash flow due to production from Manh Choh [3][10]. - Paracatu's production increased due to higher grades, while Round Mountain's production decreased due to fewer ounces recovered from heap leach pads [11][10]. - The heap leach pad expansion at Round Mountain Phase S was completed on schedule and under budget [3]. Development Projects and Exploration - The Preliminary Economic Assessment (PEA) for the Great Bear project indicates potential production of over 500,000 ounces per year at an all-in sustaining cost of approximately $800 per ounce [4][12]. - Exploration drilling at Round Mountain Phase X and Curlew Basin showed strong grades and widths, supporting the potential for higher-margin mining [12][12]. Balance Sheet Strength - Kinross repaid $350 million on its term loan in Q3 2024 and an additional $100 million post-quarter, totaling $650 million repaid in 2024 [8]. - Cash and cash equivalents increased to $472.8 million as of September 30, 2024, compared to $352.4 million at the end of 2023 [8][20]. - The company has total liquidity of approximately $2.1 billion, including available credit of $1.65 billion [8]. Dividend Declaration - The Board of Directors declared a quarterly dividend of $0.03 per common share, payable on December 12, 2024, to shareholders of record as of November 28, 2024 [9].
Kinross Gold to Report Q3 Earnings: What's in the Offing for the Stock?
ZACKS· 2024-11-01 20:01
Kinross Gold Corporation (KGC) is scheduled to release third-quarter 2024 results after the closing bell on Nov. 5.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of roughly 29.2%, on average. KGC posted an earnings surprise of roughly 7.7% in the last reported quarter.KGC’s shares are up 90.2% over a year compared with the Zacks Mining – Gol ...
Kinross Gold (KGC) Earnings Expected to Grow: Should You Buy?
ZACKS· 2024-10-29 15:06
Kinross Gold (KGC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Novemb ...
Kinross Gold (KGC) Upgraded to Strong Buy: Here's Why
ZACKS· 2024-10-25 17:00
Kinross Gold (KGC) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Individual investor ...
Is Kinross Gold (KGC) Stock Undervalued Right Now?
ZACKS· 2024-10-25 14:45
Core Insights - Value investing remains a preferred strategy for identifying strong stocks across various market conditions, utilizing valuation metrics to uncover opportunities [1] Company Summary: Kinross Gold (KGC) - Kinross Gold currently holds a Zacks Rank of 1 (Strong Buy) and an A for Value, indicating strong investment potential [2] - The stock has a Forward P/E ratio of 14.16, which is lower than the industry average of 15.51, with a 52-week range of 12.07 to 19 [2] - KGC's PEG ratio stands at 0.48, compared to the industry's average of 0.53, with a historical range of 0.41 to 2.13 [2] - The P/S ratio for KGC is 2.92, which is below the industry average of 3.33, suggesting a favorable valuation based on sales [3] - KGC has a P/CF ratio of 8.33, significantly lower than the industry's average of 18.87, indicating strong cash flow relative to its valuation [3] - Overall, KGC appears undervalued based on key metrics, supported by a strong earnings outlook [3]
3 Gold Stocks Surging on Bullish Sector Stance
Schaeffers Investment Research· 2024-10-22 18:47
Core Viewpoint - Canaccord Genuity has raised its long-term price outlook for gold and silver, positively impacting several mining stocks, including Kinross Gold Corp, Barrick Gold Corp, and Newmont Corporation [1][2] Group 1: Newmont Corporation (NEM) - NEM's price target has been increased from $59 to $66, leading to a 1.7% rise in its stock price to $58.54 [1] - The stock reached a two-year high of $58.71 after rebounding from a pullback to the 40-day moving average, now trading above the former resistance level of $56 [1] - Over the past 12 months, NEM has gained more than 52% [1] Group 2: Kinross Gold Corp (KGC) - KGC achieved a 12-year high of $10.82 after bouncing off a support level at $9.20, currently trading at $10.67 with a 1.2% increase [1] - The stock has shown a remarkable 99% year-over-year increase, with a 76.3% gain in just this year [1] Group 3: Barrick Gold Corp (GOLD) - GOLD's stock price increased by 1.5% to $21.17, following a two-year peak of $21.34 [2] - The stock's gains were supported by the 60-day moving average, contributing to a 27.9% year-over-year increase [2]
Treasure Hunt: Why Kinross Is Still A Hidden Gold Gem
Seeking Alpha· 2024-10-09 09:21
Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial .Analyst’s Disclosure: I/we have a beneficial long position in the shares of CAT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I ...
Kinross to announce Q3 results on November 5, 2024
GlobeNewswire News Room· 2024-10-07 21:00
TORONTO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX: K; NYSE: KGC) will release its financial statements and operating results for the third quarter of 2024 on Tuesday, November 5, 2024, after market close. On Wednesday, November 6, 2024, at 8:00 a.m. ET Kinross will hold a conference call and audio webcast to discuss the results, followed by a question-and-answer session. The call-in numbers are as follows: Canada & US toll-free – 1 (888) 596-4144; Passcode: 9135525Outside of Canada & ...
Kinross Gold (KGC) is a Top-Ranked Value Stock: Should You Buy?
ZACKS· 2024-10-04 14:47
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Sc ...