LONDON, UK / ACCESSWIRE / December 22, 2017 / Active-Investors.com has just released a free earnings report on Kinross Gold Corp. (NYSE: KGC) ("Kinross").If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KGC . The Company reported its third quarter fiscal 2017 operating results on November 08, 2017. The Gold Miner outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Kinross Gold most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the quarter ended September 30, 2017, Kinross reported revenues of $828.0 million compared to $910.2 million in Q3 2016. The Company's revenue numbers topped analysts' estimates of $796.8 million.

During Q3 2017, Kinross' revenue from metal sales decreased to $828.0 million compared to $910.2 million during Q3 2016, primarily due to lower gold equivalent ounces sold and lower average realized gold price. The Company's attributable margin per Au eq. oz. sold was $621 for the reported quarter compared to $617 for Q3 2016.

Kinross' reported net earnings increased to $60.1 million, or $0.05 per share, for Q3 2017 compared to net earnings of $2.5 million, or $0.00 per share, for Q3 2016, primarily as a result of a non-cash impairment charge recognized in the year-ago same period, and lower production cost of sales.

Kinross' adjusted net earnings were $84.1 million, or $0.07 per share, for Q3 2017 compared to $128.7 million, or $0.10 per share, for Q3 2016, primarily attributed to a decline in revenue and income tax recovery recognized in the reported quarter. The Company's earnings beat Wall Street's estimates of $0.02 per share.

Operating Results

Kinross produced 653,993 attributable Au eq. oz. in Q3 2017 compared to a production of 684,129 attributable Au eq. oz. in Q3 2016.

During Q3 2017, Kinross' production cost of sales per Au eq. oz. decreased to $662 compared to $719 for Q3 2016, mainly as a result of lower cost of sales per ounce at Round Mountain, Bald Mountain, and Fort Knox. The Company's production cost of sales per Au oz. on a by-product basis decreased to $645 in the reported quarter versus $695 in the year ago comparable period, based on attributable gold sales of 621,720 ounces, and attributable silver sales of 1,285,860 ounces in Q3 2017.

For Q3 2017, Kinross' all-in sustaining cost per Au eq. oz. sold decreased to $937 compared to $1,001 in Q3 2016. All-in sustaining cost per Au oz. sold on a by-product basis decreased to $927 in Q3 2017 compared to $987 in Q3 2016. The Company's average realized gold price in Q3 2017 was $1,283 per ounce compared to $1,336 per ounce in Q3 2016.

Balance Sheet

As of September 30, 2017, Kinross had cash and cash equivalents of $992.1 million compared to $1.06 billion as of June 30, 2017. The Company also had an available credit of $1.51 billion as of September 30, 2017, for a total liquidity of approximately $2.5 billion.

During Q3 2017, Kinross completed a $500.0 million offering of 4.50% debt securities and used the net proceeds, along with cash on hand, to repay its term loan due August 2020. As a result, the Company has no scheduled debt repayments until 2021.

On July 28, 2017, Kinross extended the maturity date of its $1.50 billion revolving credit facility by one year from August 10, 2021, to August 10, 2022.

Kinross' net operating cash flow was $197.7 million for Q3 2017 compared to $266.2 million for Q3 2016. The Company's adjusted operating cash flow totaled $320.8 million for the reported quarter compared to $320.3 million for the year-ago corresponding period.

Outlook

Kinross expects to meet its 2017 capital expenditure forecasts of approximately $900 million (+/- 5%). The Company's other operating costs are now expected to be between $140 million - $150 million for 2017, compared to the previous guidance range of $80 million - $90 million.

Stock Performance Snapshot

December 21, 2017 - At Thursday's closing bell, Kinross Gold's stock marginally advanced 0.24%, ending the trading session at $4.24.

Volume traded for the day: 4.92 million shares.

Stock performance in the last twelve-month period ? up 42.28%; and year-to-date ? up 36.33%

After yesterday's close, Kinross Gold's market cap was at $5.29 billion.

Price to Earnings (P/E) ratio was at 48.18.

The stock is part of the Basic Materials sector, categorized under the Gold industry. This sector was up 1.5% at the end of the session.

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