Kinross Gold Company KGC recorded third-quarter 2024 revenue of $355.3 million or 29 cents per share in contrast with $109.7 million or 9 cents per share within the year-ago quarter. Adjusted earnings per share have been 24 cents in contrast with 12 cents within the prior-year quarter. It beat the Zacks Consensus Estimate of 18 cents.
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Revenues rose 29.9% 12 months over 12 months to $1,432 million, surpassing the Zacks Consensus Estimate of $1,186.7 million. The corporate benefited from larger common realized gold costs.
Kinross Gold Company Worth, Consensus and EPS Shock
Kinross Gold Corporation price-consensus-eps-surprise-chart | Kinross Gold Company Quote
KGC’s Operational Efficiency
The corporate produced 564,106 gold equal ounces within the reported quarter, down 4% 12 months over 12 months. The reported determine was larger than our estimate of 528,770 gold equal ounces. Common realized gold costs have been $2,477 per ounce, up round 28.4% from the year-ago quarter’s determine. The reported determine was larger than our estimate of $2,244 per ounce.
The manufacturing value of gross sales per gold equal ounce was $976, up round 7.1% from the prior-year quarter. The reported determine was decrease than our estimate of $997. All-in-sustaining value per gold equal ounce offered rose roughly 4.2% 12 months over 12 months to $1,350. The reported determine was decrease than our estimate of $1,372.
Margin per gold equal ounce offered was $1,501 within the quarter, up 47% from the prior quarter’s stage of $1,018.
Kinross’ Monetary Evaluate
Working money movement was $733.5 million within the third quarter of 2024 in contrast with $406.8 million a 12 months in the past.
Free money movement was $414.6 million in contrast with $137.7 million within the prior-year quarter.
KGC’s Outlook
Kinross stays on monitor to fulfill its manufacturing steering of two.1 million gold equal ounces (+/- 5%) and manufacturing value of gross sales, all-in-sustaining value and capital expenditure steering for 2024. Kinross’ annual manufacturing is projected to stay steady in 2025 and 2026, at round 2 million Au eq. oz.
KGC Inventory’s Worth Efficiency
Shares of Kinross have soared 103.3% previously 12 months in contrast with a forty five.8% upside of the industry.
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KGC’s Zacks Rank & Different Mining Releases
KGC at present carries a Zacks Rank #1 (Robust Purchase). You possibly can see the complete list of today’s Zacks #1 Rank stocks here.
Agnico Eagle Mines Restricted AEM reported third-quarter 2024 adjusted earnings of $1.14 per share, topping the Zacks Consensus Estimate of 98 cents. AEM expects its 2024 gold manufacturing to be within the vary of three.35-3.55 million ounces and is on monitor to fulfill the mid-point of the vary.
Newmont Company’s NEM adjusted earnings of 81 cents per share lagged the Zacks Consensus Estimate of 83 cents. NEM expects fourth-quarter 2024 attributable manufacturing of 1.8 million gold ounces.
Freeport-McMoRan Inc.’s FCX adjusted earnings per share of 38 cents missed the Zacks Consensus Estimate of 40 cents. FCX expects consolidated gross sales volumes for 2024 to be round 4.1 billion kilos of copper, 1.8 million ounces of gold and 80 million kilos of molybdenum.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
Newmont Corporation (NEM) : Free Stock Analysis Report
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Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
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