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Kinross Gold Corp KGC

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Kinross Reports Steady First Quarter and Reconfirms 2021 Guidance; Shares Fairly Valued

Analyst Note

| Kristoffer Inton |

Kinross reported first-quarter results that included production of 558,777 million attributable gold equivalent ounces at cost of sales of $728 per ounce and all-in sustaining cost of $953 per ounce. Under expectations for higher production and costs in the latter part of the year, the company reconfirmed its prior 2021 guidance for 2.4 million attributable gold equivalent ounces at cost of sales of $790 per ounce and AISC of $1,025 per ounce. First-quarter results leave the company plenty of wiggle room to still hit its guidance as the year progresses.

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Company Profile

Business Description

Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.

Contact
25 York Street, 17th Floor
Toronto, ON, M5J 2V5, Canada
T +1 647 788-4478
Sector Basic Materials
Industry Gold
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 8,951

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