Kinross Gold Corp
K: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 3.00 | Dck | Dxqpg |
Kinross Gold Earnings: Higher Sales Volumes and Gold Prices Drive a Solid Result
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.