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Kinross Gold Earnings Review: 17 Days after Announcement Shares Down 2.8% (KGC)

Published on Sat, 03/02/2013 - 09:12
By Adrienne Chilton

When Kinross Gold (NYSE:KGC) reported earnings 17 days ago on February 13th, 2013, analysts, on average, expected the company to report earnings of $0.21 on sales of $1.2 billion. Kinross Gold actually reported earnings of $0.24 per share on sales of $1.2 billion, beating EPS estimates by $0.03 and missing revenue estimates by $13.5 million. Shares of Kinross Gold have slipped from $7.89 to $7.67, representing a loss of 2.8%, since the company reported earnings 17 days ago.

Kinross Gold Corporation is involved in the exploration, development, and production of gold in countries located around the world. The Company currently has operations in the United States, Brazil, Chile, Ecuador and Russia.

Kinross Gold (NYSE:KGC) has potential upside of 51.1% based on a current price of $7.67 and analysts' consensus price target of $11.59. The stock should run into initial resistance at its 50-day moving average (MA) of $8.77 and subsequent resistance at its 200-day MA of $8.99.

Over the past year, Kinross Gold has traded in a range of $7.11 to $11.57 and closed Thursday at $7.67, 8% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.3%.

By Adrienne Chilton
achilton@fnno.com