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Kinross Gold Corporation KGC reported a profit of $368 million or 30 cents per share for first-quarter 2025. The figure registered an increase from a profit of $107 million or 9 cents per share recorded in the year-ago quarter.
KGC reported adjusted earnings of 30 cents per share, up from the prior-year quarter’s figure of 10 cents. The bottom line beat the Zacks Consensus Estimate of 22 cents.
Revenues rose 38.5% year over year to $1,497.5 million in the first quarter. It beat the Zacks Consensus Estimate of $1,294.9 million.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
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 512,088 gold equivalent ounces in the reported quarter, down 3% year over year. The figure topped our estimate of 499,231 gold equivalent ounces. Increased production from Fort Knox, with Manh Choh commencing in the second half of 2024, was offset by decreased production at Round Mountain and Tasiast.
Average realized gold prices were $2,857 per ounce in the quarter, up 9% from the year-ago quarter’s tally. The figure beat our estimate of $2,603 per ounce.
The production cost of sales per gold equivalent ounce was $1,043, up 6.2% from the prior-year quarter’s levels. This missed our estimate of $1,113. All-in-sustaining cost per gold equivalent ounce sold rose nearly 3.4% year over year to $1,355. This lagged our estimate of $1,410.
Margin per gold equivalent ounce sold was $1,814 in the quarter, up 67% from the prior-year quarter.
KGC’s Financials
Cash and cash equivalents were $694.6 million at the end of the quarter, up around 13.6% sequentially. Long-term debt was $1,235.9 million at the end of the quarter, flat sequentially.
KGC’s Outlook
Kinross aims to produce 2 million gold equivalent ounces (+/- 5%) at a production cost of sales per gold equivalent ounce of $1,120 (+/- 5%), with an all-in sustaining cost of $1,500 (+/- 5%) per ounce sold in 2025. Total attributable capital expenditures are expected to be $1,150 million (+/-5%).
KGC’s Price Performance
Kinross’ shares have rallied 98.5% in the past year against a 42.8% rise of the industry.
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KGC’s Zacks Rank & Other Key Picks
KGC currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks worth a look in the basic materials space include Hawkins, Inc. HWKN, Contango Ore, Inc. CTGO and Avino Silver & Gold Mines Ltd. ASM, each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is scheduled to report fiscal fourth-quarter results on May 14. The consensus estimate for Hawkins’ earnings is pegged at 74 cents. HWKN beat the consensus estimate in one of the last four quarters while missing thrice, with the average earnings surprise being 6.1%.
Contango Ore is slated to release first-quarter results on May 14. CTGO has a trailing four-quarter earnings surprise of 213.7%, on average.
Avino Silver & Gold Mines is slated to release first-quarter results on May 13. The consensus estimate for ASM’s first-quarter earnings is pegged at 3 cents. ASM has a trailing four-quarter earnings surprise of 94.4%, on average.