Group 1 - Kinross Gold reported quarterly earnings of $0.20 per share, missing the Zacks Consensus Estimate of $0.23 per share, but showing an increase from $0.11 per share a year ago, resulting in an earnings surprise of -13.04% [1] - The company posted revenues of $1.42 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 27.77%, compared to $1.12 billion in the same quarter last year [2] - Kinross Gold shares have increased approximately 30.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 3.2% [3] Group 2 - The earnings outlook for Kinross Gold is mixed, with the current consensus EPS estimate for the coming quarter at $0.16 on revenues of $1.29 billion, and $0.84 on revenues of $5.38 billion for the current fiscal year [7] - The Mining - Gold industry, to which Kinross Gold belongs, is currently ranked in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Newmont Corporation, another company in the same industry, is expected to report quarterly earnings of $0.85 per share, reflecting a year-over-year increase of +70%, with revenues anticipated to be $4.88 billion, up 23.4% from the previous year [9][10]

Production and Sales - Kinross Gold Corporation produced 2,170,791 gold equivalent ounces in 2024, a 1% increase from 2023, with higher production from Fort Knox and Bald Mountain offset by lower production from Paracatu and Round Mountain[12][17]. - Total gold equivalent ounces produced in 2024 were 2,170,791, a 1% increase from 2023, while total gold equivalent ounces sold were 2,153,212, a 1% decrease[85]. - In 2024, Kinross Gold Corporation produced 622,394 gold equivalent ounces at the Tasiast mine, a slight increase of 0% compared to 2023[91]. - At the Paracatu mine, gold equivalent ounces produced decreased by 10% to 528,574, while metal sales increased by 10% to $1,258.9 million[96][99]. - La Coipa mine produced 246,131 gold equivalent ounces, a decrease of 5% compared to 2023, while metal sales increased by 10% to $573.3 million[100][103]. - At Round Mountain, gold equivalent ounces produced decreased by 9% to 215,387 ounces, and ounces sold decreased by 8% to 214,996 ounces due to fewer ounces recovered from heap leach pads[115]. - Bald Mountain saw a 15% increase in gold equivalent ounces produced to 181,047 ounces, driven by higher grades and planned mine sequencing[122]. Financial Performance - Metal sales increased by 21% to $5,148.8 million in 2024, driven by a 23% rise in the average realized gold price to $2,393 per ounce[12][18]. - Net earnings attributable to common shareholders surged by 128% to $948.8 million, with basic and diluted earnings per share rising to $0.77, a 126% increase[12][12]. - Attributable adjusted net earnings increased by 55% to $838.3 million, with adjusted net earnings per share at $0.68, also up 55%[12][12]. - Operating earnings for 2024 reached $1,540.3 million, a 92% increase from 2023[88]. - The company recorded an income tax expense of $487.4 million in 2024, up from $293.2 million in 2023[135]. - Net cash flow from operating activities rose by 52% to $2,446.4 million, reflecting improved operational efficiency[12][12]. - Net cash flow from operating activities increased to $2,446.4 million in 2024 from $1,605.3 million in 2023, reflecting improved margins and favorable working capital movements[25]. - Net cash flow used in financing activities in 2024 was $1,005.9 million, an increase from $549.0 million in 2023, primarily due to term loan repayments of $800.0 million[151]. Costs and Expenses - Production cost of sales rose to $2,197.1 million, an increase of 7%, with production cost per equivalent ounce sold at $1,020, up 8% compared to 2023[12][19]. - Attributable all-in sustaining cost per equivalent ounce sold increased by 5% to $1,388, while the all-in cost per equivalent ounce sold rose by 6% to $1,739[12][20]. - Depreciation, depletion, and amortization expenses increased by 16% to $1,147.5 million, primarily due to a higher depreciable asset base at Tasiast and Bald Mountain[12][21]. - Production cost of sales per equivalent ounce sold at Paracatu rose by 14% to $1,039 due to higher drilling contractor and blasting supply costs[96][99]. - Production cost of sales at La Coipa increased by 27% to $231.3 million, primarily due to higher mill maintenance costs[100][103]. - Production cost of sales increased by 32% to $452.5 million, primarily due to higher contractor, royalty, and reagent costs associated with the start of Manh Choh production[109]. - Production cost of sales per equivalent ounce sold at Bald Mountain decreased by 3% to $1,205, maintaining cost efficiency despite increased production[119]. Future Outlook - The company expects to produce 2.0 million attributable gold equivalent ounces in 2025, with stable production expected for 2026 and 2027[60]. - Attributable production cost of sales per equivalent ounce sold is expected to be $1,120 in 2025, up from $1,021 in 2024[61]. - The expected attributable all-in sustaining cost for 2025 is $1,500 per equivalent ounce sold, compared to $1,388 in 2024[62]. - Attributable capital expenditures for 2025 are forecasted to be approximately $1,150 million, with sustaining capital expenditures of approximately $535 million and non-sustaining capital expenditures of approximately $615 million[65]. - The 2025 forecast for exploration and business development is $200 million, including approximately $175 million for exploration expenditures at various sites[68]. - The forecast effective tax rate for 2025 is expected to be in the range of 32% - 37%[70]. Legal and Regulatory Matters - The company is involved in ongoing legal proceedings, but management believes that the ultimate liability will not materially affect its financial position, results of operations, or cash flows[174]. - The Maricunga operation has faced regulatory challenges, including a series of sanctions from the Chilean environmental authority, leading to a suspension of mining activities since 2016[176]. - In a recent settlement regarding the Maricunga case, the company is required to submit a restoration plan to the environmental authority, which is currently under appeal[177]. - The Kettle River-Buckhorn Mine has faced multiple Notices of Violation (NOV) from the Washington Department of Ecology, asserting discharge limit exceedances[180]. - A citizen's suit was filed against the company under the Clean Water Act, seeking civil penalties of up to $55,800 per day for alleged permit violations, with ongoing litigation and settlement discussions[183]. - Kinross Brasil Mineração S.A. reached a settlement with the State Public Attorney in Brazil, agreeing to pay approximately $7 million over ten years to support socio-environmental projects[184]. - The Manh Choh mine project in Alaska is facing opposition from local groups, but administrative appeals against the project have been unsuccessful to date[185]. - The court has granted judgment on three of the four claims in the lawsuit against the ore haul plan, with the case set for trial on August 11, 2025[187]. Cash and Liquidity - Cash and cash equivalents at the end of 2024 increased by 74% to $611.5 million compared to $352.4 million at the end of 2023[145]. - The company had $1,645.9 million available credit as of December 31, 2024, indicating strong liquidity[167]. - The company repaid $800.0 million of the term loan during 2024, with a remaining balance of $200.0 million as of December 31, 2024[161]. - Total assets increased by $322.3 million to $10,865.6 million in 2024, driven by an increase in cash and cash equivalents and inventories[152]. - Current liabilities rose by $374.6 million to $1,060.1 million, mainly due to the reclassification of a $1.0 billion term loan from long-term to current[152]. - Total debt decreased to $1,435.4 million in 2024 from $2,232.6 million in 2023, reflecting significant term loan repayments[152]. Impairments and Adjustments - In Q4 2024, the Company recorded an after-tax impairment reversal of $73.4 million related to property, plant, and equipment at Round Mountain[22]. - The company recorded an after-tax impairment reversal of $73.4 million in Q3 2024 related to property, plant, and equipment, contrasting with a $35.8 million impairment charge in Q4 2023[193]. Internal Controls and Reporting - The implementation of a new consolidation accounting system was completed in 2024 without material changes to internal controls[198]. - Management concluded that internal control over financial reporting was effective as of December 31, 2024, based on their evaluation[197]. - The company’s financial performance is subject to inherent limitations in disclosure controls and procedures, despite being deemed effective[199].

Core Viewpoint - Kinross Gold Corporation (KGC) is expected to report its fourth-quarter 2024 results on February 12, 2024, with a strong likelihood of beating earnings estimates due to favorable gold prices and production performance [1][5]. Financial Performance - KGC has consistently outperformed earnings estimates, achieving an average earnings surprise of 32.5% over the last four quarters, with a notable 33.3% surprise in the most recent quarter [2]. - The Zacks Consensus Estimate for KGC's fourth-quarter earnings is currently set at 23 cents, with an Earnings ESP of +8.70%, indicating a strong potential for an earnings beat [5][6]. Revenue and Price Trends - The revenue estimate for the upcoming quarter stands at $1,108.1 million, reflecting a slight decline of approximately 0.7% compared to the same quarter last year [7]. - Average realized gold prices for the fourth quarter are projected to be $2,439 per ounce, representing a significant increase of 23.6% year-over-year, driven by strong demand and market conditions [10]. Production and Cost Factors - KGC's production profile remains robust, with key assets like Tasiast and Paracatu contributing significantly to cash flow and production levels [11]. - Despite the positive outlook, KGC faces challenges with rising production costs, which increased by roughly 7% year-over-year in the third quarter, alongside a 4% rise in all-in-sustaining costs [12].

Core Points - Kinross Gold Corporation will release its 2024 fourth-quarter and full-year financial statements and operating results on February 12, 2025, after market close [1] - The company will provide its full-year 2025 guidance, mineral reserve, and mineral resource statement as of December 31, 2024, along with an exploration and project update [1] - A conference call and audio webcast will be held on February 13, 2025, at 8 a.m. ET to present the results, followed by a question-and-answer session [1] Financial Reporting Schedule - Q1 2025 financial statements and operating results will be released on May 6, 2025, with a conference call on May 7, 2025, at 7:45 a.m. ET [5] - Q2 2025 financial statements and operating results will be released on July 30, 2025, with a conference call on July 31, 2025, at 8 a.m. ET [5] - Q3 2025 financial statements and operating results will be released on November 4, 2025, with a conference call on November 5, 2025, at 8 a.m. ET [5] Company Overview - Kinross Gold Corporation is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, and Canada [3] - The company focuses on delivering value based on responsible mining, operational excellence, disciplined growth, and balance sheet strength [3] - Kinross is listed on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC) [3]

Core Insights - Kinross Gold (KGC) has shown strong year-to-date performance, with a return of approximately 61.5%, significantly outperforming the Basic Materials sector, which has returned an average of -6.4% [4] - The Zacks Rank for Kinross Gold is currently 2 (Buy), indicating positive analyst sentiment, with a 17.4% increase in the consensus earnings estimate over the past 90 days [3] - Kinross Gold is part of the Mining - Gold industry, which has an average gain of 14.2% this year, further highlighting KGC's strong performance relative to its peers [5] Company Performance - Kinross Gold's year-to-date return of 61.5% positions it as one of the best-performing stocks in the Basic Materials sector [4] - The company's Zacks Rank of 2 reflects a favorable outlook, with analysts revising earnings estimates upward by 17.4% [3] - In comparison, Rayonier Advanced Materials (RYAM) has also performed well, with a year-to-date increase of 93.3% and a Zacks Rank of 1 (Strong Buy) [4][5] Industry Context - The Basic Materials sector includes 234 individual stocks and currently holds a Zacks Sector Rank of 15, indicating a relatively weak performance overall [2] - The Mining - Gold industry, which includes Kinross Gold, ranks 82 in the Zacks Industry Rank, suggesting that while KGC is performing well, the industry as a whole is not among the top performers [5] - In contrast, the Paper and Related Products industry, which includes Rayonier Advanced Materials, has seen a year-to-date increase of 40.2% and ranks 168 [6]

Core Viewpoint - Kinross Gold Corporation (KGC) presents an attractive investment opportunity due to its favorable valuation metrics, strong production profile, and positive market conditions for gold [1][6][10]. Valuation and Stock Performance - KGC is trading at a forward price/earnings ratio of 11.13X, which is approximately 11.2% lower than the Zacks Mining – Gold industry's average of 12.54X, and has a Value Score of A [1]. - The stock is currently about 9.7% below its 52-week high of $10.82, reached on October 24, 2024, amid rising gold prices driven by U.S. election uncertainties and geopolitical tensions [1]. Technical Indicators - KGC has been trading above the 200-day simple moving average (SMA) since March 6, 2024, although it is currently below its 50-day SMA. The 50-day SMA remains above the 200-day SMA, indicating a bullish trend [3]. Growth Prospects - The company has a robust production profile and a promising pipeline of exploration and development projects, including Great Bear in Ontario and Round Mountain Phase X in Nevada, which are expected to enhance production and cash flow [7]. - KGC's major assets, Tasiast and Paracatu, are key contributors to cash flow and production, with Tasiast being the lowest-cost asset in its portfolio [8]. Financial Health - KGC ended the third quarter with a strong liquidity position of approximately $2.1 billion and generated record third-quarter attributable free cash flows of $414.6 million, supported by high gold prices and operating margins [9]. - The company has reduced its net debt by about $1 billion over the past 18 months, repaying $350 million of debt in the third quarter [9]. Market Conditions - Gold prices have increased by roughly 28% this year, driven by strong demand from central banks, a dovish interest rate outlook from the Federal Reserve, and heightened global uncertainties [10]. - Despite recent pressures from a stronger U.S. dollar, gold prices are expected to receive support from potential future rate cuts [10]. Dividend and Analyst Sentiment - KGC offers a dividend yield of 1.2% with a payout ratio of 20%, indicating a sustainable dividend backed by strong cash flows [11]. - Earnings estimates for KGC have been rising, with the Zacks Consensus Estimate for 2024 earnings currently at 70 cents, reflecting a year-over-year growth of 59.1% [12]. Stock Performance Comparison - KGC's shares have increased by 61.5% year-to-date, outperforming the industry average of 19.2% and the S&P 500's increase of 27.7% [15]. Investment Recommendation - With a strong pipeline of development projects, solid financial health, and favorable market conditions, KGC is recommended for accumulation as it has positive growth prospects [18].

It’s been a good year for investors in gold ( GLD ) with the price up 28% so far this year and reaching a record high of $2,790 an ounce, before falling back to $2,647. Gold miners have benefitted from this rise, with theMountain Valley Value Investments specializes in identifying undervalued companies with strong growth potential across various sectors. Focused on long-term value and buying at the right price, we leverage deep industry insights and rigorous analysis to uncover opportunities with the potent ...

Investors interested in stocks from the Mining - Gold sector have probably already heard of Kinross Gold (KGC) and Triple Flag Precious Metals (TFPM) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revis ...

Kinross Gold (KGC) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The po ...

Kinross Gold Corporation’s (KGC) shares have popped 65.3% year to date, outperforming the Zacks Mining – Gold industry’s gain of 19.9%. The bullishness appears to have been catalyzed by its better-than-expected earnings performance on the back of a rally in gold prices.KGC is currently trading at a roughly 7.6% discount to its 52-week high of $10.82, reached on Oct. 24, 2024, thanks to a surge in gold prices to new highs on U.S. election uncertainties and heightened geopolitical tensions. Technical indicato ...