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EN
Kinross Gold Free Cash Flow Falls to $726.8 Million After Four Record Quarters
['Jay Lutz']
the deep dive
Reported net earnings landed at $844.2 million, or $0.71 per share, essentially flat against the $843 million and $0.70 per share booked in Q1.
Adjusted net earnings eased to $847.8 million from $854.1 million, holding at $0.71 per share on a reduced share count.
Attributable free cash flow fell to $726.8 million from $837.5 million, ending a run of four consecutive quarterly records, while capital expenditures climbed to $411 million from $283.2 million on ramping development work at Curlew, Round Mountain Phase X, Redbird and Great Bear.
Sponsored · PTX Metals Inc.Cash and equivalents rose to $2.7 billion from $2.2 billion and net cash reached $1.9 billion, against long term debt of $738.8 million and no maturities until 2033.
Kinross repurchased $230 million in stock during the quarter, representing 7.9 million shares, and declared a quarterly dividend of $0.04.