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Kinross Gold Corp KGC

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Morningstar’s Analysis

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Few Surprises in Kinross’ Fourth Quarter, but Lofty Gold Prices Limit any Operational Upside

Analyst Note

| Kristoffer Inton |

Kinross reported fourth-quarter results with few surprises, as its production of 2.4 million gold equivalent ounces at cost of sales of $723 per ounce and all-in sustaining cost of $987 per ounce were within guidance. With average realized gold prices 30% higher than last year, adjusted operating cash flow rose 36% to $528 million.

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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 Sep 30, 2020
Fiscal Year End Dec 31, 2021
Stock Type
Employees 8,970

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