IAUX - Kinross: Improving Long-Term Outlook With Great Bear Project Growth
2024-02-15 19:25:00 ET
Summary
- Kinross Gold Corporation had a solid year in 2023, beating production and cost guidance and reporting a 130%+ increase in free cash flow generation year-over-year.
- Meanwhile, Kinross continues to see meaningful exploration success at its Great Bear Project, and investors will get a better idea of project economics with PEA work on deck.
- In this update, we'll dig into the Q4/FY2023 results, recent developments, and whether Kinross Gold Corporation stock is worthy of investment at current levels.
The Q4 Earnings Season for the VanEck Gold Miners ETF ( GDX ) has finally begun, and one of the first companies to report its results is Kinross Gold Corporation ( KGC ). Overall, the company had a solid year across the board, with increased production, higher all-in sustaining cost [AISC] margins, and significant growth in free cash flow generation. This was helped by a record year for its Tasiast Mine in Mauritania, a solid year from Paracatu, which produced just shy of 600,000 ounces of gold, and a phenomenal year from La Coipa with ~260,000 ounces produced at very attractive margins....
Kinross: Improving Long-Term Outlook With Great Bear Project Growth