Kinross Gold Corp

KGC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2.30	Drlq	Ppkcm

Kinross Gold Earnings: Higher Sales Volumes and Gold Prices Drive a Solid Result

Jon Mills

May 8, 2024

No-moat Kinross Gold’s solid 2024 first-quarter result broadly met our expectations. It is on track to meet our unchanged forecast for sales of around 2.05 million gold equivalent ounces, or GEO, in 2024. Sales volumes grew 7%, driven by higher production from its Tasiast mine in Mauritania and La Coipa mine in Chile. The increased production broadly offset headwinds from inflation, meaning unit cash costs were similar to last year.

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