- #97; vol. 16.9M
Kinross Gold misses by $0.01, misses on revs; Updates 2019 Outlook; Appoints new board member
- Reports Q3 (Sep) earnings of $0.08 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.09; revenues rose 16.3% year/year to $877.1 mln vs the $908.75 mln two analyst estimate.
Outlook
- Kinross is on track to meet its production guidance of 2.5 million Au eq. oz. (+/- 5%) and all-in sustaining cost guidance of $995 per Au eq. oz. (+/-5%) for 2019.
- The Company is tracking towards the lower end of its 2019 production cost of sales guidance of $730 per Au eq. oz. (+/- 5%) and the higher end of its capital expenditure guidance of $1,050 million (+/-5%).
- The Company now expects its income tax expense to be in the range of $175 - $195 million on an adjusted basis. The change in forecasted tax expense from the previous guidance is primarily a result of stronger gold prices and production mix.
Appoints new Board member
- The Board of Directors of Kinross has appointed Ms. Elizabeth McGregor, CPA, CA as a Director. Ms. McGregor has almost 20 years of financial experience and over 10 years of experience in the mining sector.
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