Kinross Gold Earnings: Here’s Why the Stock is Rising Now

Kinross Gold Corporation (NYSE:KGC) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.81%.

Kinross Gold Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $0.0 in the quarter versus EPS of $0.22 in the year-earlier quarter.

Revenue: Decreased 68.67% to $315.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Kinross Gold Corporation reported adjusted EPS loss of $0 per share. By that measure, the company missed the mean analyst estimate of $0.05. It missed the average revenue estimate of $781.58 million.

Quoting Management: J. Paul Rollinson, CEO, made the following comments in relation to second-quarter 2013 results:
“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)…

Revenue decreased 70.19% from $1.06 billion in the previous quarter. EPS decreased to $0.0 in the quarter versus EPS of $0.10 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.12 to a profit $0.05. For the current year, the average estimate has moved down from a profit of $0.52 to a profit of $0.28 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)