Kinross Gold Corporation: Initiation Of Coverage – What Is Its Core Business Strategy?

Kinross Gold reported a robust fiscal year 2023, where the company met its targets and is well-positioned for the year ahead. Kinross Gold’s operations are performing well, as are its projects, which are aligning with budget and timing. The company is generating substantial free cash flow and is successfully de-levering its balance sheet. In Q4 2023, Kinross Gold’s production was within the top half of its guidance range, and costs were on the lower end. This performance mainly resulted from a stable inflation environment incorporated in the company’s targets and a favourable trend in grades within the company’s portfolio. However, the company predicts a slight increase in costs in 2024.