KGC - Kinross Gold's Q3 earnings almost tripled margin shines

Kinross Gold (KGC) +3.1% in premarket on moderate volume, after its Q3 earnings easily beat estimates. Its adjusted earnings nearly tripled to $310M, thus keeping the company on track to meet its yearly guidance, for the ninth consecutive year.Adjusted operating cash flow surged by 86% to $549.6M. Attributable margin increased by 60% to $1,171 a gold-equivalent ounce, which substantially outpaced the 30% increase in the average realized gold price to to $1,908/ounce.Quarterly production and sales fell slightly to 603,312 GEOs and 588,559 GEOs, respectively, due to lower production at Paracatu, Maricunga and Kupol, largely offset by increases at Fort Knox and Bald Mountain.The company would produce about 2.4M GEOs this year at a cost of sales of $720/GEO and an all-in sustaining cost of $970/GEO.Kinross expects substantial production growth over the next three years, having reported earlier that its production would increase by 20% to 2.9M GEOs.

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Kinross Gold's Q3 earnings almost tripled, margin shines