Kinross Gold Corporation KGC logged profits of $119.3 million or 9 cents per share in second-quarter 2021, down from $195.7 million or 15 cents reported in the year-ago quarter.Barring one-time items, adjusted earnings came in at 12 cents per share that were in line with Zacks Consensus Estimate.Revenues inched down 0.6% year over year to $1,000.9 million. The top line missed the Zacks Consensus Estimate of $1020.8 million.Kinross Gold Corporation Price, Consensus and EPS Surprise Kinross Gold Corporation price-consensus-eps-surprise-chart | Kinross Gold Corporation Quote Operational PerformanceAttributable gold equivalent ounces produced in the reported quarter totaled 538,091 ounces, down 6% year over year. The downside was mainly due to lower production at Tasiast, Bald Mountain and Kupol. This was partly offset by higher production at Paracatu and Fort Knox.Average realized gold prices were $1,814 per ounce in the quarter, up 6% from the year-ago quarter’s figure.Production cost of sales per gold equivalent ounce was $830 in the quarter, up from $725 in the prior-year quarter. All-in sustaining cost per gold equivalent ounce sold rose 8.6% year over year to $1,069, primarily due to higher cost of sales per gold equivalent ounce sold and lower production.Margin per gold equivalent ounce sold was $984 in the quarter, down from the prior-year quarter’s level.Financial ReviewAdjusted operating cash flow declined 14.6% year over year in the second quarter to $363.8 million. Cash and cash equivalents were $675.6 million as of Jun 30, compared with $1,527.1 in the prior-year quarter.Long-term debt was $1,397.4 million at the end of the second quarter, down 47.7% year over year. OutlookFor 2021, Kinross expects to produce 2.1 million (+/- 5%) gold equivalent ounces. It has revised production cost of sales guidance to $830 per gold equivalent ounce, from the earlier guidance of $790.All-in sustaining cost per ounce for 2021 is now projected at $1,110. Capital expenditures are predicted at around $900 million (+/- 5%) for this year.In 2022 and 2023, the company expects annual production to increase to around 2.7 and 2.9 million gold equivalent ounces, respectively.Price PerformanceShares of Kinross have declined 27.8% in the past year compared with 24% fall of the industry.Image Source: Zacks Investment Research Zacks Rank & Key PicksKinross currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.Nucor has a projected earnings growth rate of around 490.1% for the current year. The company’s shares have surged 132.7% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Dow has an expected earnings growth rate of around 403.01% for the current year. The company’s shares have gained 48.3% in the past year. It currently carries a Zacks Rank #2.Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 45.7% in the past year. It currently flaunts a Zacks Rank #1. 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE): Free Stock Analysis Report Dow Inc. (DOW): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis Report Cabot Corporation (CBT): Free Stock Analysis Report To read this article on Zacks.com click here.