05:35 PM EST, 11/05/2024 (MT Newswires) -- Kinross Gold ( KGCRF ) (K.TO, KGC) was last seen up 1.7% in after-hours New York trading after it said Tuesday its third-quarter adjusted profit and revenue rose year-over-over, with the company reaffirming its 2024 production guidance.

Adjusted profit, excluding most one-time items, rose to US$298.7 million, or US$0.24 per share, in the period up from US$144.6 million, or US$0.12, in the year-prior quarter.

Revenue rose to US$1.43 billion, compared with $1.10 billion in the prior year period.

Kinross produced 564,106 gold equivalent ounces during the quarter, down from 585,449 ounces in the previous corresponding quarter. The company said that the 4% year-over-year decrease was mainly due to planned lower production at Paracatu and fewer ounces recovered from the heap leach pads at Round Mountain, partly offset by production starting at Manh Choh.

The company said it remains on track to meet its 2024 production target of 2.1 million gold equivalent ounces along with its cost and capital expenditure targets. Annual production is expected to stay stable at around 2 million gold equivalent ounces per year in 2025 and 2026.

The board maintained its quarterly dividend of US$0.03 per share, which is payable on Dec. 12 to shareholders of record as of the close of business on Nov. 28.

Kinross shares were last seen up US$0.17 to US$10.20 after hours. They closed up $0.03 to $13.90 on the Toronto Stock Exchange.