05:23 PM EDT, 07/31/2024 (MT Newswires) -- Kinross Gold ( KGCRF ) (K.TO, KGC) edged down in after-hours New York trading after the company on Wednesday reported slightly higher adjusted profit for the second quarter as revenue rose, and reaffirmed its 2024 production guidance.

Adjusted profit, excluding most one-time items for the second quarter rose 4.2% to US$174.7 million, or US$0.14 per share, compared with US$167.6 million, or US$0.14, in the year-prior quarter.

Revenue increased to US$1.22 billion from US$1.1 billion in the prior year period.

Kinross produced 535,338 gold equivalent ounces during the quarter, a 4% decrease from the 555,036 ounces in the previous corresponding quarter. The decrease was primarily due to lower grades at Paracatu according to the planned mining sequence. The average realized gold price rose to US$2,342 per ounce, from US$1,976 last year.

The board declared a dividend of US$0.03 per share payable on September 6.

Kinross shares were last seen down US$0.12 to US$8.94 after hours. They closed up $0.45 to $12.55 on the Toronto Stock Exchange.