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Mar 31
Kinross Gold Q1 2025 Earnings Report
Kinross Gold posted strong Q1 2025 results with significant increases in earnings and cash flow.
Key Takeaways
Kinross Gold delivered robust Q1 2025 performance with revenue rising to $1.5 billion and net income more than tripling year-over-year. Operating and free cash flows surged, supported by higher realized gold prices and increased margins. The company maintained strong financial discipline and resumed share buybacks.
Net income rose to $368M, over triple Q1 2024 levels.
Free cash flow more than doubled to $371M.
Margins per ounce sold increased 67% to $1,814.
Resumed $60M in share buybacks with a $500M target for 2025.
Kinross Gold
Kinross Gold
Kinross Gold Revenue by Segment
Kinross Gold Revenue by Geographic Location
Revenue by Segment
Gold sales Revenue
CapyFin.comRevenue by Geographic Location
Mauritania Revenue
CapyFin.comBrazil Revenue
CapyFin.comChile Revenue
CapyFin.comUnited States Revenue
CapyFin.com Forward Guidance
Kinross reaffirmed its 2025 guidance, projecting steady production and disciplined cost control, with capital expenditures and share repurchases aligned to strategic goals.
Positive Outlook
- On track to produce 2 million Au eq. oz. in 2025 (+/- 5%).
- Production cost of sales expected at $1,120/oz (+/- 5%).
- All-in sustaining cost forecasted at $1,500/oz (+/- 5%).
- Capital expenditures projected at $1.15B (+/- 5%).
- Strong liquidity of $2.3B supports capital return strategy.
Challenges Ahead
- Production slightly declined YoY due to planned reductions at Round Mountain and Tasiast.
- Slight increase in production costs per ounce.
- Fire incident at Tasiast created operational disruption (though guidance remains unchanged).
- Year-over-year AISC rose from $1,310 to $1,355/oz.
- Ongoing costs and capital commitments in development projects could pressure future margins.