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Sep 30
Kinross Gold Q3 2025 Earnings Report
Kinross Gold reported strong Q3 2025 results with record free cash flow, increased net income, and solid production metrics.
Key Takeaways
Kinross delivered a robust Q3 2025 with strong earnings, record free cash flow, and maintained its positive operational momentum across key sites like Paracatu and Tasiast. The company reaffirmed its guidance and strengthened shareholder returns with a boosted buyback target and dividend hike.
Record free cash flow of $686.7 million and a net cash position of $485 million.
EPS rose to $0.48, with adjusted EPS at $0.44.
Strong production of 503,862 gold equivalent ounces and improved margins of $2,310/oz.
Shareholder returns enhanced with a 20% increase in buyback target to $600 million and 17% higher dividend.
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, expecting production to slightly exceed the midpoint of its 2.0 million Au eq. oz. target, with costs trending at the high end of forecasts due to royalties and capital investments.
Positive Outlook
- Production expected to slightly exceed midpoint of 2.0M Au eq. oz.
- Attributable capital expenditures tracking to meet $1.15B guidance.
- Fourth quarter production expected around 500,000 Au eq. oz.
- Stable annual production forecast through 2027.
- Ongoing cost control despite inflation and royalty increases.
Challenges Ahead
- Attributable AISC tracking toward high end of guidance due to royalties.
- Higher sustaining capital expenditures impacting cost metrics.
- Increased labour and maintenance costs in certain regions.
- Some operational cost increases due to lower grades at key sites.
- Gold price sensitivity affecting cost projections and margins.