📈📊 With the rising price of gold, this company is also seeing significant growth!
Founded in 1993,Kinross Gold Corporation $KGC+1.4% is a global leader in gold mining . Kinross focuses onthe mining, processing and exploration of gold and silver, operating mines in several countries around the world, including theU.S., Canada, Russia and Brazil. With its innovative practices and strong financial position, Kinross hasbecome one of the leading players in the global gold industry.
The company reported an impressive increase in net profit of 40 % Earnings climbed to $210.9 million (17 cents per share) in the second quarterof 2024, up from$151.0 million (12 cents per share)last year . This positive result is supported by an increase in the average gold price, which reached US$2,342 per ounce, US$366 higher than the same period in2023.
🔗 Despite a slight decline in gold production of 4 % at Paracatu , the Company's margin per ounce sold increased by 22 % to US$1,313. This demonstrates that Kinross has not only outperformed the rise in gold prices, but continues to manage its costs effectively. Total sustaining costs per ounce of gold sold were US$1,387, uponly slightly from last year's US$1,296.
📉 Interesting news is also the announcement of a dividend of USD 0.03 per common share for second quarter 2024. This news confirms the company's strong position and its commitment to returning value to shareholders.
Do you invest in gold in any way? Remember that gold can still be an attractive safe haven in uncertain times. 🌟
Miners are great investments for those who don't want to buy gold itself. I wouldn't worry about it at all either, if the company is of good quality like this one. Do you have it in your portfolio?
I'd like to invest in gold in some way and this might be an interesting option, so thanks for the tip.