KGC - Kinross Gold tops Q4 earnings view on higher prices

Kinross Gold ([[KGC]] +3.4%) pushes higher after beating Q4 earnings estimates, as the 25% surge in gold prices eased the impact of lower production.Kinross says its average realized gold price rose 26% Y/Y to $1,875/oz., lifting revenues to a 20% Y/Y increase to $1.2B.Q4 production fell 3.3% Y/Y to 624K gold equiv. oz., which Kinross expects will stay flat in 2021.The miner also says its FY 2021 spending budget will stay unchanged at $900M, while annual AISC is forecast to rise to $1,025 per gold equiv. oz. from $970/oz. in 2020.In an update on its development projects, Kinross says the Tasiast project is advancing on schedule and on budget, with throughput expected to rise to 21K t/d by year-end 2021 and to 24K t/d by mid-2023.

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Kinross Gold tops Q4 earnings view on higher prices