Kinross Gold Sees Q2 2025 Profit Up 152% Due To Gold Price Rally, Masking Output Slip

Kinross Gold (TSX: K) posted its Q2 2025 financials, with quarterly revenue jumping 42% YoY to $1.73 billion from $1.22 billion in Q2 2024. 

The surge is powered by a 40% lift in the realized gold price to an all-time high of $3,284 per ounce. Production cost of sales edged up just 6% YoY to $568 million while gross profit more than doubled to $897 million. This also led to operating earnings rising 160% YoY to $775 million.

Margin per gold equivalent ounce jumped 68% YoY to $2,204, outpacing inflation in AISC, which climbed 8% YoY to $1,493 per ounce. “The 21% margin expansion… outpacing the 15% increase in gold prices,” CEO J. Paul Rollinson noted.

Net income also soared 152% YoY to $558 million or $0.43 per share from last year’s $209 million or $0.17 per share. Adjusted earnings of $541 million (or $0.44 per share) were more than triple compared to $175 million (or $0.14 per share) last year.

Operating cash flow leapt 64% YoY to $992 million, translating into a record free cash flow of $647 million—up 87% YoY—even after a sequential step-up in capital spending to $302 million as Great Bear and Redbird ramped. Shareholder returns absorbed $207 million (buybacks plus dividends) in the quarter, part of a planned $650 million for the year.

This led to cash balance rising 64% QoQ to $1.14 billion, while liquidity hit $2.8 billion, and net debt shrank to roughly $100 million.

Attributable output slipped 4% YoY to 512,574 ounces, with Tasiast’s planned grade decline offsetting gains at Paracatu and Fort Knox. Meanwhile, production cost of sales per ounce rose 4% YoY to $1,074, while La Coipa’s cost specifically spiked 51% YoY to $1,397 per ounce on weaker grades and higher royalties.

Management reaffirmed 2025 guidance of 2.0 million ounces at $1,120 per ounce cost of sales and $1,500 per ounce AISC.

Kinross Gold last traded at $21.36 on the TSX.


Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Kinross Gold: BMO Resumes Coverage Following Great Bear Purchase

On January 21st, BMO resumed coverage on Kinross Gold (TSX: K) after its acquisition of...

Tuesday, January 25, 2022, 03:40:00 PM

Kinross Q4 Earnings: Is the Market Overreacting?

When it comes to gold producers, it would seem few are as on-the-nose as Kinross...

Sunday, February 16, 2025, 03:10:00 PM

Kinross Gold Delays Great Bear Maiden Resource Estimate To 2023

Growing tired of its troubling situation in Russia making headlines, Kinross Gold (TSX: K) this...

Thursday, April 7, 2022, 09:02:32 AM

Kinross Gold: BMO Lifts Targets On Buyback News

Kinross Gold (TSX: K) this past week announced that it is launching a new share...

Saturday, September 24, 2022, 11:17:00 AM

Kinross Sells Chirano Mine For $225 Million To Asante Gold

Kinross Gold (TSX: K) continues to monetize assets. The company this morning announced that it...

Monday, April 25, 2022, 09:20:27 AM