Kinross Gold (KGC) has just published its third-quarter results. The stock has been consolidating for a month in the $4.50-5.00 range, but the trading action on the earnings day pushed it decisively lower. Was the report that bad?
The company reported revenue of $877.1 million and earnings of $60.8 million, or $0.05 per share, missing analysts' estimates on both revenue and earnings. Kinross Gold produced 608,033 gold equivalent ounces (GEOs) at an all-in sustaining cost ((AISC)) of $1,028 per ounce. The company reiterated its full-year production guidance of 2.5 million GEO at