Kinross Gold Q4 Earnings and Sales Beat on Higher Gold Prices

Core Insights - Kinross Gold Corporation (KGC) reported a profit of $906.5 million or 75 cents per share for the fourth quarter of 2025, a significant increase from $275.6 million or 22 cents per share in the same quarter last year [1][8] - Adjusted earnings were 67 cents per share, up from 20 cents in the prior-year quarter, surpassing the Zacks Consensus Estimate of 55 cents [1][8] Revenue Performance - Revenues rose approximately 43% year over year to $2,023 million in the fourth quarter, exceeding the Zacks Consensus Estimate of $1,874.4 million, driven by a higher average realized gold price [2][8] Operational Performance - The company produced 483,582 gold equivalent ounces in the reported quarter, a decrease of 3.5% year over year, but this figure surpassed the estimate of 452,757 gold equivalent ounces [3] - Average realized gold prices were $4,144 per ounce, up 56% from the previous year, and also beat the estimate of $4,080 per ounce [3] Cost Analysis - The production cost of sales per gold equivalent ounce was $1,297, an increase of 18.1% from the prior-year quarter, which was above the estimate of $1,218 [4] - All-in sustaining cost per gold equivalent ounce sold rose nearly 21% year over year to $1,825, also above the estimate of $1,823 [4] - Margin per gold equivalent ounce sold was $2,847 in the quarter, up from $1,565 in the prior-year quarter [4] Financial Position - Cash and cash equivalents were $1,742.3 million at the end of the quarter, reflecting an increase of around 185% year over year [5] - Long-term debt was $738.2 million at the end of the quarter, a decline of 40.3% [5] Future Outlook - Kinross expects to produce 2 million gold equivalent ounces (+/- 5%) on an attributable basis in 2026, with a production cost of sales per gold equivalent ounce of $1,360 (+/- 5%) and an all-in sustaining cost of $1,730 (+/- 5%) per ounce sold [6] - Annual production is estimated to remain stable at approximately 2 million attributable Au equivalent ounces (+/- 5%) in 2027 and 2028 [6] Stock Performance - Kinross' shares have surged 205.1% in the past year, compared to a 133.4% rise in the industry [7]