Kinross Gold (KGC) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.22%. A quarter ago, it was expected that this gold mining company would post earnings of $0.10 per share when it actually produced earnings of $0.12, delivering a surprise of 20%.Over the last four quarters, the com ...

Exhibit 99.1 Kinross Gold Corporation 25 York Street, 17th Floor Toronto, ON Canada M5J 2V5 For more information, please see Kinross' 2023 Q3 Financial Statements and MD&A at www.kinross.com NEWS RELEASE Kinross reports strong 2023 third-quarter results Company on track to meet annual guidance Tasiast achieves record quarterly production and delivers strong free cash flow Phase S supports production at Round Mountain through end of decade Toronto, Ontario – November 8, 2023 – Kinross Gold Corporation (TSX: ...

TORONTO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:K, NYSE:KGC) (the "Company") today announced that the Company's Board of Directors has declared a dividend of US$0.03 per common share for the fourth quarter of 2023. The dividend is payable on March 21, 2024, to shareholders of record as of the close of business on March 6, 2024. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes while dividends paid to shareholders outside Canada (non-resident invest ...

Delivers on 2023 guidance, strong 2024 outlook of 2.1 million Au eq. oz.Tasiast and La Coipa projects completed driving significant free cash flowGreat Bear exceeds expectations and adds more than one million high-grade inferred ounces TORONTO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:K, NYSE:KGC) ("Kinross" or the "Company") today announced its results for the fourth-quarter and year ended December 31, 2023. This news release contains forward-looking information about expected future ...

Financial Performance - Kinross reported a revenue of $4,239.7 million for the year ended December 31, 2023, an increase of 22.7% compared to $3,455.1 million in 2022[164]. - The total production cost of sales for 2023 was $2,054.4 million, up from $1,805.7 million in 2022, reflecting a 13.8% increase[164]. - Gross profit for 2023 was $1,159.6 million, significantly higher than $515.4 million in 2022, indicating a gross margin improvement[164]. - Earnings from continuing operations after tax reached $415.4 million in 2023, compared to $30.6 million in 2022, marking a substantial increase[164]. - Kinross reported a net earnings of $415.4 million in 2023, a turnaround from a net loss of $605.7 million in 2022[164]. - The earnings per share from continuing operations attributable to common shareholders was $0.34 in 2023, compared to $0.02 in 2022, showing significant improvement[164]. - Kinross reported a net cash flow from operating activities of $1,605.3 million for 2023, up from $1,002.5 million in 2022, representing a 60.1% increase[165]. - The company reported a net cash flow from continuing operations of $410.9 million for Q4 2023, down from $474.3 million in Q4 2022[179]. - Adjusted net earnings from continuing operations attributable to common shareholders for Q4 2023 were $140.0 million, compared to $108.2 million in Q4 2022, representing a 29% increase[177]. Production and Costs - The total gold equivalent ounces produced in 2023 were 2,153,020, up from 1,957,237 in 2022, representing a growth of 10%[159]. - Kinross's total gold production for Q4 2023 was 171,199 ounces, with a recovery rate of 93%[168]. - Production cost of sales from continuing operations for Q4 2023 was $552.0 million, compared to $526.5 million in Q4 2022, representing an increase of 4.4%[183]. - The production cost of sales from continuing operations per equivalent ounce sold increased to $976 in Q4 2023 from $848 in Q4 2022, reflecting a rise of 15.1%[188]. - All-in sustaining cost on a by-product basis for Q4 2023 was $721.5 million, compared to $704.9 million in Q4 2022, an increase of 2.4%[188]. - The all-in sustaining cost from continuing operations per ounce sold on a by-product basis was $1,328 in Q4 2023, compared to $1,203 in Q4 2022, an increase of 10.4%[188]. Capital Expenditures - Kinross's total capital expenditures for 2023 were $1,098.3 million, an increase from $764.2 million in 2022, marking a 44% rise[165]. - The company emphasizes the distinction between sustaining and non-sustaining capital expenditures to provide clarity on capital allocation and its impact on all-in sustaining costs[192]. - Sustaining capital expenditures for Q4 2023 totaled $150.1 million, a decrease from $178.3 million in Q4 2022, representing a 16% decline[193]. - Non-sustaining capital expenditures for Q4 2023 were $161.2 million, up from $138.5 million in Q4 2022, indicating a 16% increase[193]. - The company's sustaining capital expenditures for the full year 2023 were $554.3 million, a rise from $402.6 million in 2022, reflecting a 38% increase[194]. Assets and Liabilities - The company’s cash and cash equivalents decreased to $352.4 million as of December 31, 2023, down from $418.1 million in 2022[162]. - Total assets increased to $10,543.3 million in 2023, compared to $10,396.4 million in 2022, reflecting a growth of 1.4%[162]. - The company’s total liabilities decreased to $4,357.6 million in 2023 from $4,514.2 million in 2022, indicating a reduction of 3.5%[162]. Exploration and Resources - As of December 31, 2023, Kinross Gold Corporation reported total proven and probable gold reserves of 937,809 ounces with an average grade of 0.8 g/t[197]. - The company holds 294,790 tonnes of proven gold reserves in South America, primarily from Paracatu, with a total of 5,446 ounces[197]. - The total measured and indicated gold resources amount to 706,125 tonnes, with a total of 25,968 ounces at an average grade of 0.7 g/t[199]. - Kinross reported a total of 6,783 ounces of proven and probable silver reserves, with a significant portion from the Tasiast mine in Mauritania[197]. - The company is focused on expanding its operations in South America, particularly in Chile, to enhance its resource base[199]. Future Outlook and Strategies - The company plans to continue its market expansion and product development strategies to enhance operational efficiency and profitability in the coming years[168]. - Future outlook includes potential acquisitions to bolster its mineral resource portfolio and enhance shareholder value[199]. - Kinross aims to leverage its exploration successes to enhance shareholder value and drive future growth[246]. - The company is committed to greenhouse gas reduction initiatives and has set targets as part of its Environmental, Social, and Governance (ESG) strategy[248]. Market Sensitivity - Approximately 70%-80% of the company's costs are denominated in U.S. dollars, with a 10% change in foreign currency exchange rates impacting production costs by approximately $20 per equivalent ounce sold[250]. - A $10 per barrel change in the price of oil is expected to result in an approximate $3 impact on production cost of sales per equivalent ounce sold[252]. - A $100 change in the price of gold would result in an approximate $4 impact on production cost of sales due to changes in royalties[252].

Core Insights - Kinross Gold Corporation (KGC) is expected to report earnings soon, with favorable conditions indicating a potential earnings beat [1] - Recent earnings estimate revisions show analysts have raised their estimates for KGC, suggesting positive trends [1] - The Most Accurate Estimate for KGC's current quarter is 11 cents per share, compared to the Zacks Consensus Estimate of 9 cents per share, resulting in a Zacks Earnings ESP of +13.51% [1] Importance of Earnings ESP - A positive Zacks Earnings ESP has historically led to positive surprises and market outperformance, with a 10-year backtest showing nearly 70% positive surprise rate for stocks with a positive Earnings ESP and a Zacks Rank 3 or better [2] - KGC holds a Zacks Rank 3 and a positive Earnings ESP, making it a stock to consider ahead of earnings [2] - Recent earnings estimate revisions indicate a strong likelihood of a positive earnings report for Kinross [2]

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