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Kinross Earnings: Gold Price Euphoria More Than Offsets Lower Volumes and Rising Costs

Kinross Earnings: Gold Price Euphoria More Than Offsets Lower Volumes and Rising Costs

Key Morningstar Metrics for Kinross Gold

What We Thought of Kinross Gold’s Earnings

Kinross Gold’s K fourth-quarter adjusted net income of USD 810 million or USD 0.67 per share more than tripled on the same quarter in 2024. The stronger gold price more than offset rising unit cash costs and lower volumes. The same factors meant 2025 adjusted EPS nearly tripled to USD 1.84 from a year ago.

Why it matters: The result was better than we expected, driven by a lower effective tax rate. Volume guidance is in line with our estimates, though unit cash cost guidance is lower, and capital expenditure is higher as it invests in its US mines to help maintain current production volumes.

  • It announced a 14% increased quarterly dividend of USD 0.04…

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