KINROSS GOLD (KGC) Company Report

Moody's Investors Service upgraded Kinross Gold Corporation's senior unsecured rating to Baa2 from Baa3, changing the outlook to stable from positive, citing the company's scale, production profile, low financial leverage, and conservative financial policies.
Kinross completed the early redemption of $500 million in 4.50% Senior Notes, which were originally due on July 15, 2027.
The company has repaid approximately $700 million of debt in 2025 and a total of $1.5 billion over fiscal years 2024 and 2025.
Following the redemption, Kinross has $750 million in aggregate principal amount of Senior Notes outstanding, with the next maturity scheduled for July 15, 2033, for $500 million, and reported a net cash position of approximately $500 million as of September 30, 2025.

Dec 4, 2025, 10:00 PM

6-K

Kinross Gold Reports Strong Q3 2025 Results and Enhanced Capital Returns

KGC

Earnings

Dividends

Share Buyback

Kinross Gold Corporation reported strong Q3 2025 results, including record attributable free cash flow of $686.7 million and achieving a net cash position of $485 million as of September 30, 2025.
The company enhanced its return of capital program, increasing its 2025 share buyback target by 20% to $600 million and its quarterly dividend by 17% to $0.035 per common share, amounting to $0.14 per share on an annualized basis.
Kinross is on track to meet its 2025 annual guidance and announced the early redemption of $500 million in Senior Notes due 2027, further strengthening its balance sheet.

Nov 5, 2025, 2:48 PM

6-K

KGC Reports Strong Q3 2025 Results, Record Free Cash Flow, and Increased Capital Returns

KGC

Earnings

Share Buyback

Dividends

KGC reported strong Q3 2025 results, with gold production of 504,000 ounces at a cost of sales of $1,145 per ounce, generating record free cash flow of $687 million.
The company's financial position significantly improved, achieving a net cash position of almost $500 million by the end of Q3 2025, supported by $1.7 billion in cash and $3.4 billion in total liquidity.
KGC is increasing its capital return for 2025 to more than $750 million for shareholders through a 17% dividend increase and $600 million in share repurchases, alongside a planned $500 million senior note redemption prior to year-end.
The company reaffirmed its full-year production guidance to be slightly above the midpoint, with operating costs and all-in sustaining costs expected to meet guidance, though ASIC is anticipated to be in the upper range.

Nov 5, 2025, 1:00 PM

Transcript

Kinross Gold Reports Strong Q3 2025 Results with Record Free Cash Flow and Increased Capital Returns

KGC

Earnings

Share Buyback

Dividends

Kinross Gold reported strong Q3 2025 results, with production of 504,000 ounces at a cost of sales of $1,145 per ounce, generating operating margins of over $2,300 per ounce.
The company achieved a record free cash flow of $687 million in Q3 2025, contributing to over $1.7 billion year-to-date. Adjusted earnings were $0.44 per share.
Kinross Gold's balance sheet strengthened, ending Q3 with approximately $1.7 billion in cash and a net cash position of almost $500 million. S&P updated its credit outlook from stable to positive.
The company plans to redeem a $500 million 2027 senior note before year-end, which is expected to result in $35 million in interest savings over 2026 and 2027.
Kinross Gold is increasing its return of capital to shareholders, with a 17% dividend increase and an additional $100 million in share repurchases for a total of $600 million this year, bringing total shareholder returns to more than $750 million in 2025. Including debt repayment, total capital returned in 2025 will be almost $1.5 billion.

Nov 5, 2025, 1:00 PM

Transcript

Kinross Gold reports strong Q3 2025 results and increased capital returns

KGC

Earnings

Share Buyback

New Projects/Investments

Kinross Gold delivered strong Q3 2025 results, with 504,000 ounces of gold production at a cost of sales of $1,145 per ounce, and generated $687 million in attributable free cash flow.
The company reported a robust balance sheet with approximately $1.7 billion in cash and a net cash position of almost $500 million at the end of Q3 2025.
Kinross is increasing its return of capital, planning to return more than $750 million to shareholders in 2025, including a 17% dividend increase and $600 million in share repurchases.
Additionally, the company will redeem a $500 million 2027 senior note prior to year-end, bringing total capital returned in 2025 (shareholders + debt repayment) to almost $1.5 billion.
Key projects such as Great Bear are on track for first production in 2029, while project decisions for Round Mountain Phase X and Curlew are anticipated in 2026.

Nov 5, 2025, 1:00 PM

Transcript

Kinross Gold Reports Strong Q3 2025 Earnings and Updates Guidance

KGC

Earnings

Guidance Update

Dividends

Kinross Gold Corporation reported Q3 2025 metal sales of $1,802.1 million, a 26% increase from Q3 2024, primarily due to a 40% increase in the average realized gold price to $3,460 per ounce.
Net earnings attributable to common shareholders for Q3 2025 rose 65% to $584.9 million, or $0.48 per share, compared to the same period in 2024.
The company expects to be slightly above the midpoint of its annual production guidance of 2.0 million (+/- 5%) attributable gold equivalent ounces and is tracking towards the higher end of its attributable all-in sustaining cost guidance of $1,500 (+/-5%).
Kinross repaid the remaining $200.0 million term loan in February 2025 and will redeem all outstanding 4.50% senior notes due 2027 on December 4, 2025.
The Board declared a dividend of $0.035 per common share payable on December 10, 2025, and the company repurchased 8.8 million common shares during Q3 2025.

Nov 4, 2025, 10:18 PM

6-K

Kinross Gold Announces Dividend Increase and Q3 Dividend

KGC

Dividends

Kinross Gold Corporation's Board of Directors has approved a 17% increase to its dividend, which will amount to $0.14 per share on an annualized basis.
The Board has also approved a quarterly dividend of $0.035 per common share for the third quarter of 2025.
This quarterly dividend is payable on December 10, 2025, to shareholders of record as of the close of business on November 26, 2025.

Nov 4, 2025, 10:00 PM

Press Release

Kinross Gold converts Asante Gold debenture

KGC

Debt Issuance

New Projects/Investments

Kinross Gold Corporation has elected to convert its secured convertible debenture, issued on August 12, 2025, into common shares of Asante Gold Corporation.
The conversion amount, including accrued and unpaid interest, totaled approximately US$80 million.
As a result, Kinross will receive 61,735,867 Shares of Asante Gold at a price of C$1.81 per Share.
Upon conversion, all obligations related to the Convertible Debenture have been extinguished, and it is no longer outstanding.

Oct 8, 2025, 11:00 AM

Press Release

Kinross Gold Sells Entire Shareholding in Asante Gold Corporation

KGC

M&A

New Projects/Investments

Kinross Gold Corporation sold 36,927,650 Shares of Asante Gold Corporation on September 22, 2025, which represented approximately 5.2% of Asante's outstanding shares and all of the shares held by Kinross.
The shares were sold at a price of C$1.98 per Share, resulting in an aggregate sale price of C$73,116,747.
Following the sale, Kinross Gold Corporation holds no outstanding Shares of Asante Gold, but retains 5,000,000 warrants and a convertible debenture, which together represent approximately 8.4% of Asante's outstanding shares on a partially diluted basis.
The purpose of this transaction was to realize value from the share consideration Kinross received under a purchase agreement dated April 24, 2022.

Sep 26, 2025, 7:46 PM

6-K

Kinross Gold Sells Entire Common Share Position in Asante Gold

KGC

M&A

Kinross Gold Corporation announced the sale of 36,927,650 common shares of Asante Gold Corporation.
This transaction represents approximately 5.2% of Asante's outstanding shares and 100% of the common shares previously held by Kinross.
The shares were sold at C$1.98 per share, generating an aggregate sale price of C$73,116,747.
Following the sale, Kinross remains an investor in Asante through convertible instruments, which represent approximately 8.4% of Asante's outstanding shares on a partially diluted basis.