February 12, 2020 / 10:14 PM / in 2 months

Kinross Gold adjusted profit jumps on higher gold prices, output

Feb 12 (Reuters) - Canadian miner Kinross Gold Corp reported a jump in quarterly adjusted profit on Wednesday, helped by record output at its third biggest mine Tasiast, and higher gold prices that boosted margins.

The company’s adjusted profit rose to $156 million, or 13 cents per share, in the fourth quarter ended Dec. 31, from $13.5 million, or 1 cent per share, a year earlier.

The company’s total production rose to 645,344 gold equivalent ounces from 610,152 gold equivalent ounces a year earlier.

Average realized gold prices rose 21% to $1,485 per ounce from $1,226 an year earlier. (Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Shailesh Kuber)

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