Kinross Gold Full Year 2024 Earnings: In Line With Expectations

Kinross Gold (TSE:K) Full Year 2024 Results

Key Financial Results

• Revenue: US$5.15b (up 21% from FY 2023).
• Net income: US$948.8m (up 128% from FY 2023).
• Profit margin: 18% (up from 9.8% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.77 (up from US$0.34 in FY 2023).

K Production and Reserves

Gold

• Production: 2,128.1 troy koz (2,153 troy koz in FY 2023)
• Number of mines: 6 (6 in FY 2023)

All figures shown in the chart above are for the trailing 12 month (TTM) period

Kinross Gold Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

The primary driver behind last 12 months revenue was the Tasiast segment contributing a total revenue of US$1.46b (28% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$1.15b (57% of total expenses). Explore how K's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Canada are expected to grow by 15%.

Performance of the Canadian Metals and Mining industry.

The company's shares are down 7.2% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Kinross Gold you should be aware of, and 1 of them is potentially serious.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.