Kinross Gold Corporation (TSX:K) (NYSE: KGC) late Tuesday reported third quarter 2025 adjusted earnings per share of $0.44, surpassing the analyst consensus estimate of $0.39.
The company’s revenue for the quarter rose 25.8% year over year to $1.8 billion on a stronger gold price.
Analysts, on average, were expecting $1.53 billion.
Kinross also raised its dividend by 17%, its first shareholder payout increase since the dividend was reinstated in September 2020.
In a note to clients, Jefferies analysts lifted their target price on Kinross by 42% to $32 per share, while maintaining a 'Buy’ rating, despite the company’s free cash flow falling slightly below their forecast due to higher capital expenditures.
They added that Kinross maintained its 2025 guidance, including production of 2.0 million gold equivalent ounces at all-in-sustaining costs of $1,500 an ounce.
Kinross Gold shares climbed nearly 7% to $24 per share on Wednesday.