Kinross reports loss of US$106 million in Q4, earnings of $31.9 million in 2022

TORONTO – Kinross Gold Corp. says it saw a loss of US$106 million from continuing operations in the fourth quarter of 2022, down from a loss of $66.2 million during the same quarter a year earlier.

The company, which reports in U.S. dollars, says earnings for the full 2022 financial year were $31.9 million, up from a loss of $29.9 million in 2021.

Losses per diluted share for the fourth quarter were eight cents, down from five cents a year earlier.

The Toronto-based company saw gold production and sales in ounces go up in the fourth quarter and for the full year.

Kinross says production ramped up quarter over quarter, seeing its strongest production and lowest costs of the year in the final quarter.

The company says it expects to increase production in 2023 and 2024.

This report by The Canadian Press was first published Feb. 15, 2023.

Companies in this story: (TSX:K)