By Adriano Marchese

Shares of Kinross Gold rose Wednesday morning after it said it would increase its capital returns to shareholders after a strong third quarter.

Shares traded 5.3% higher in Toronto at 33.35 Canadian dollars ($26.64).

The Canadian gold major late Tuesday said it has increased its share repurchase target by 20% to $600 million for 2025. Since reactivating its buyback program in April, the company has so far repurchased $405 million in shares.

To add to the returns, Kinross' board also approved a 17% increase to the quarterly dividend to 3.5 cents a share, which would bring it up to 14 cents a share annually.

Chief Executive J. Paul Rollinson said the returns are possible thanks to its robust financial position and strong free cash flow, which are now expected to be about $750 million through both share buybacks and dividends.

In the third quarter, the company produced 503,862 ounces of gold, down from 564,106 ounces.

But Kinross benefited from higher gold prices, which in the quarter averaged $3,458 an ounce, up from $2,479 a year earlier, which supported a rise in net income to $584.9 million from $355.3 million, which in a per-share basis was a rise to 48 cents from 29 cents.

Revenue increased 26% to $1.8 billion, topping expectations of $1.71 billion, according to a poll on FactSet.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 05, 2025 10:06 ET (15:06 GMT)

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