Kinross Gold Earnings: Here’s Why Shares are Up Now
Kinross Gold Corporation (NYSE:KGC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.19%.
Kinross Gold Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 28.57% to $0.10 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Decreased 3.84% to $968 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kinross Gold Corporation reported adjusted EPS income of $0.10 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $929.64 million.
Quoting Management: J. Paul Rollinson, CEO, commented: “In the current challenging environment, Kinross continues to deliver strong operating results. Our operations had another excellent quarter, and we remain on guidance for production, cost of sales, and all-in sustaining costs. We also recorded a key milestone in Russia with the delivery of first ore from Dvoinoye to Kupol, and are on schedule to reach targeted production in the fourth quarter.”
Key Stats (on next page)…