Kinross Gold Sees Free Cash Flow Fall to Four-Quarter Low

Kinross Gold's free cash flow fell to $726.8 million in the second quarter, ending a four-quarter streak of records. The company reported revenue of $2.24 billion, down from $2.41 billion in Q1 due to lower average realized gold prices.

The Toronto-listed miner saw its net earnings remain flat at $844.2 million, or $0.71 per share. Adjusted net earnings eased to $847.8 million from $854.1 million. Operating cash flow was little changed at $1.15 billion.

Kinross Gold repurchased $230 million in stock during the quarter and declared a quarterly dividend of $0.04. The company's attributable production of 492,326 gold equivalent ounces was flat sequentially and 4% below a year earlier. Production cost of sales improved to $1,352 per equivalent ounce sold.