We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you accept our Privacy Policy and Terms of Service, revised from time to time, and you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Kinross Gold's Q4 Earnings Miss Estimates, Revenues Beat
Read MoreHide Full Article
Kinross Gold Corporation (KGC - Free Report) recorded a fourth-quarter 2024 profit of $275.6 million or 22 cents per share, up from a profit of $65.4 million or 6 cents logged in the year-ago quarter.
KGC reported adjusted earnings of 20 cents per share, up from the prior-year quarter figure of 11 cents. The bottom line missed the Zacks Consensus Estimate of 23 cents.
Revenues rose 26.9% year over year to $1,415.8 million in the fourth quarter. It topped the Zacks Consensus Estimate of $1,108.1 million.
Kinross Gold Corporation Price, Consensus and EPS Surprise
The company produced 514,355 gold equivalent ounces in the reported quarter, down 5.9% year over year. The figure topped our estimate of 443,981 gold equivalent ounces.
Average realized gold prices were $2,663 per ounce in the quarter, up 34.9% from the year-ago quarter’s figure. The figure beat our estimate of $2,439 per ounce.
The production cost of sales per gold equivalent ounce was $1,098, up 12.5% from the prior-year quarter. It was above our estimate of $1,089. All-in-sustaining cost per gold equivalent ounce sold rose roughly 11.6% year over year to $1,510. It was above our estimate of $1,393.
Margin per gold equivalent ounce sold was $1,565 in the quarter, up from the prior-year quarter’s $998.
KGC’s 2024 Results
Earnings, as adjusted, for full-year 2024 were 68 cents per share compared with 44 cents a year ago. Net sales climbed 21.4% year over year to $5,148.8 million.
KGC’s Financials
Cash and cash equivalents were $611.5 million at the end of the year, up around 73.5% year over year. Long-term debt was $1,235.5 million at the end of the quarter, down about 44.6%.
KGC’s Outlook
For 2025, Kinross expects production to be 2 million gold equivalent ounces (+/- 5%). The company expects production cost of sales of $1,120 per gold equivalent ounce (+/- 5%) for the year. The company expects all-in-sustaining cost per gold equivalent ounce of $1,500 for 2025. Attributable capital expenditures are predicted at roughly $1,150 million (+/- 5%) for this year.
KGC’s Stock Price Performance
Shares of Kinross have surged 122.4% in the past year against a 55% rise of the industry.
Image Source: Zacks Investment Research
KGC’s Zacks Rank & Key Picks
KGC currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include ICL Group Ltd. (ICL - Free Report) , Nutrien Ltd. (NTR - Free Report) and Ingevity Corporation (NGVT - Free Report) .
ICL is slated to report fourth-quarter results on Feb. 26. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 6 cents. ICL beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 18.1%. ICL carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nutrien is scheduled to release fourth-quarter results on Feb.19. The Zacks Consensus Estimate for NTR’s fourth-quarter earnings is pegged at 33 cents. NTR, a Zacks Rank #2 stock, has gained around 2% in the past year.
Ingevity is slated to report fourth-quarter results on Feb. 18, after market close. The consensus estimate for Ingevity’s fourth-quarter earnings is pegged at 12 cents. NGVT, carrying a Zacks Rank #1, beat the consensus estimate in three of the last four quarters while missing once, with the average earnings surprise being 95.4%.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Kinross Gold's Q4 Earnings Miss Estimates, Revenues Beat
Kinross Gold Corporation (KGC - Free Report) recorded a fourth-quarter 2024 profit of $275.6 million or 22 cents per share, up from a profit of $65.4 million or 6 cents logged in the year-ago quarter.
KGC reported adjusted earnings of 20 cents per share, up from the prior-year quarter figure of 11 cents. The bottom line missed the Zacks Consensus Estimate of 23 cents.
Revenues rose 26.9% year over year to $1,415.8 million in the fourth quarter. It topped the Zacks Consensus Estimate of $1,108.1 million.
Kinross Gold Corporation Price, Consensus and EPS Surprise
Kinross Gold Corporation price-consensus-eps-surprise-chart | Kinross Gold Corporation Quote
KGC’s Operational Performance
The company produced 514,355 gold equivalent ounces in the reported quarter, down 5.9% year over year. The figure topped our estimate of 443,981 gold equivalent ounces.
Average realized gold prices were $2,663 per ounce in the quarter, up 34.9% from the year-ago quarter’s figure. The figure beat our estimate of $2,439 per ounce.
The production cost of sales per gold equivalent ounce was $1,098, up 12.5% from the prior-year quarter. It was above our estimate of $1,089. All-in-sustaining cost per gold equivalent ounce sold rose roughly 11.6% year over year to $1,510. It was above our estimate of $1,393.
Margin per gold equivalent ounce sold was $1,565 in the quarter, up from the prior-year quarter’s $998.
KGC’s 2024 Results
Earnings, as adjusted, for full-year 2024 were 68 cents per share compared with 44 cents a year ago. Net sales climbed 21.4% year over year to $5,148.8 million.
KGC’s Financials
Cash and cash equivalents were $611.5 million at the end of the year, up around 73.5% year over year. Long-term debt was $1,235.5 million at the end of the quarter, down about 44.6%.
KGC’s Outlook
For 2025, Kinross expects production to be 2 million gold equivalent ounces (+/- 5%). The company expects production cost of sales of $1,120 per gold equivalent ounce (+/- 5%) for the year. The company expects all-in-sustaining cost per gold equivalent ounce of $1,500 for 2025. Attributable capital expenditures are predicted at roughly $1,150 million (+/- 5%) for this year.
KGC’s Stock Price Performance
Shares of Kinross have surged 122.4% in the past year against a 55% rise of the industry.
Image Source: Zacks Investment Research
KGC’s Zacks Rank & Key Picks
KGC currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include ICL Group Ltd. (ICL - Free Report) , Nutrien Ltd. (NTR - Free Report) and Ingevity Corporation (NGVT - Free Report) .
ICL is slated to report fourth-quarter results on Feb. 26. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 6 cents. ICL beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 18.1%. ICL carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nutrien is scheduled to release fourth-quarter results on Feb.19. The Zacks Consensus Estimate for NTR’s fourth-quarter earnings is pegged at 33 cents. NTR, a Zacks Rank #2 stock, has gained around 2% in the past year.
Ingevity is slated to report fourth-quarter results on Feb. 18, after market close. The consensus estimate for Ingevity’s fourth-quarter earnings is pegged at 12 cents. NGVT, carrying a Zacks Rank #1, beat the consensus estimate in three of the last four quarters while missing once, with the average earnings surprise being 95.4%.