A month has gone by since the last earnings report for Kinross Gold (KGC). Shares have added about 26.4% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Kinross Gold due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Kinross Gold Corporation before we dive into how investors and analysts have reacted as of late.
Kinross' Q2 Earnings Surpass Estimates on Higher Gold Prices
Kinross reported a profit of $530.7 million or 43 cents per share for second-quarter 2025. The figure increased from a profit of $210.9 million or 17 cents per share recorded in the year-ago quarter.
Kinross reported adjusted earnings of 44 cents per share compared with the prior-year quarter’s figure of 14 cents. The bottom line beat the Zacks Consensus Estimate of 33 cents.
Revenues rose nearly 41.7% year over year to $1,728.5 million in the second quarter. It topped the Zacks Consensus Estimate of $1,347.3 million. The rise is attributed to a higher average realized gold price.
Operational Performance
The company produced 512,574 gold equivalent ounces in the reported quarter, down 4.3% year over year. The figure beat our estimate of 487,940 gold equivalent ounces.
Average realized gold prices were $3,284 per ounce in the quarter, up 40.2% from the year-ago quarter’s tally. The figure beat our estimate of $2,771 per ounce.
The production cost of sales per gold equivalent ounce was $1,074, up 4.4% from the prior-year quarter’s levels. This was below our estimate of $1,143. All-in-sustaining cost per gold equivalent ounce sold rose nearly 7.6% year over year to $1,493. This was below our estimate of $1,499.
Margin per gold equivalent ounce sold was $2,204 in the quarter, up from the prior-year quarter’s $1,313.
Financials
Cash and cash equivalents were $1,136.5 million at the end of the quarter, up around 136.7% year over year. Long-term debt was $1,236.4 million at the end of the quarter, up about 0.2%.
Outlook
Kinross expects to produce 2 million gold equivalent ounces (+/- 5%) on an attributable basis, with a production cost of sales per gold equivalent ounces of $1,120 (+/- 5%) and an all-in sustaining cost of $1,500 (+/- 5%) per ounce sold. Total attributable capital expenditures are projected to be $1,150 million (+/- 5%).
How Have Estimates Been Moving Since Then?
Since the earnings release, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 23.04% due to these changes.
VGM Scores
Currently, Kinross Gold has a strong Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. Following the exact same course, the stock was allocated a score of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Kinross Gold has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry Player
Kinross Gold is part of the Zacks Mining - Gold industry. Over the past month, Newmont Corporation (NEM), a stock from the same industry, has gained 17.5%. The company reported its results for the quarter ended June 2025 more than a month ago.
Newmont reported revenues of $5.32 billion in the last reported quarter, representing a year-over-year change of +20.8%. EPS of $1.43 for the same period compares with $0.72 a year ago.
For the current quarter, Newmont is expected to post earnings of $1.27 per share, indicating a change of +56.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +7.5% over the last 30 days.
Newmont has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.
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Kinross Gold Corporation (KGC): Free Stock Analysis Report Newmont Corporation (NEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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