Kinross Gold Q3 Earnings Surpass Estimates as Gold Prices Rise Y/Y

Core Insights - Kinross Gold Corporation (KGC) reported a profit of $584.9 million or 48 cents per share in Q3 2025, an increase from $355.3 million or 29 cents per share in the same quarter last year [1] - Adjusted earnings were 44 cents per share, up from 24 cents in the prior-year quarter, beating the Zacks Consensus Estimate of 39 cents [1] Revenue Performance - Revenues rose approximately 25.8% year over year to $1,802.1 million in Q3, surpassing the Zacks Consensus Estimate of $1,530.4 million, driven by higher average realized gold prices [2] Operational Performance - KGC produced 503,862 gold equivalent ounces in the reported quarter, down 10.7% year over year, with consolidated production at 520,301 ounces, exceeding the estimate of 476,618 ounces [3] - Average realized gold prices were $3,460 per ounce, up 39.7% from the previous year, also beating the estimate of $3,230 per ounce [3] Cost Analysis - The production cost of sales per gold equivalent ounce was $1,145, up 16.8% year over year, but below the estimate of $1,182 [4] - All-in-sustaining cost per gold equivalent ounce sold rose nearly 20.2% year over year to $1,622, above the estimate of $1,515 [4] - Margin per gold equivalent ounce sold was $2,310 in the quarter, an increase from $1,501 in the prior-year quarter [4] Financial Position - Cash and cash equivalents were $1,721.7 million at the end of the quarter, up around 264% year over year [5] - Long-term debt remained flat year over year at $1,236.9 million [5] Future Outlook - KGC expects to produce slightly above the midpoint of 2 million gold equivalent ounces (+/- 5%) with a production cost of sales per gold equivalent ounce of $1,120 (+/- 5%) and an all-in sustaining cost of $1,500 (+/- 5%) per ounce sold [6] - Fourth-quarter production is anticipated to be slightly lower than 500,000 Au eq. oz., with annual production projected to remain stable at 2 million attributable Au eq. oz. (+/- 5%) in 2026 and 2027 [7] Stock Performance - Kinross' shares have surged 130.3% in the past year, compared to an 83.1% rise in the industry [8]