Kinross Gold reports Q4 EPS 20c, consensus 25c

Reports Q4 revenue $1.42B vs. $1.16B last year. J. Paul Rollinson, CEO, said: “2024 marked another excellent year for Kinross and we have, once again, met our production and cost guidance. We delivered record free cash flow7 of $1.3 billion, which more than doubled year-over-year, repaid $800 million of debt, and grew our margins by 37%, significantly outpacing the rise in gold price. Three years ago, in February 2022, we acquired Great Bear through a combination of cash and shares. I’m proud to say that, since then, we have fully repaid the debt associated with that acquisition and have fewer shares outstanding due to our share buyback program. We have also outlined a high-grade resource and published an attractive Preliminary Economic Assessment demonstrating top-tier, high-margin production potential. We converted nearly 1 million resource ounces to reserves at Bald Mountain, which, coupled with the receipt of our Juniper permit in 2024, resulted in the decision to proceed with mining at Redbird.”