Stifel Canada on Wednesday reiterated its buy rating on the shares of Kinross Gold (K.TO, KGC) and its C$45.00 price target after the company reported third-quarter results.
"Kinross reported Q3/25 adjusted EPS of $0.44 vs. our $0.39 (consensus $0.38) on attributable GEO production of 504K GEO vs. our 506K GEO at cost of sales of $1,150/GEO vs. our $1,174/GEO and AISC of $1,622/GEO vs. our $1,540/GEO. EPS beat on lower operating costs and higher finance income. Q3/25 free cash flow of $712Mln (attributable: $687Mln) was a beat vs. our $626Mln driven by stronger operating income as well as positive working capital changes. We estimate Kinross generated Q3/25 free cash flow of $1,105/GEO (excl. working capital changes) was +1% QoQ vs. +6% QoQ change in the average gold price. FY25 GEO production was reiterated and trending above the mid-point of the guidance range of 2Moz. Targeted FY25 share repurchases were increased +20% to $600Mln vs YTD repurchases of $405Mln along with a +17% increase in the quarterly dividend approved (0.6% dividend yield)," analyst Ralph Profiti wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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