Sunday, September 21st8.5°C
23284
20950

Kinross Gold adjusted earnings fall to US$32.9 million, miss estimates

TORONTO - Kinross Gold Corp. (TSX:K) had US$32.9 million of adjusted earnings in the second quarter, down 72 per cent from the same time last year and below analyst estimates.

The Toronto-based company attributed the reduced adjusted earnings to lower gold prices during the quarter. The average price that Kinross received was US$1,285 per ounce sold, down from US$1,394 an ounce in the second quarter of 2013.

Its revenue was US$911.9 million, down from US$968 million a year before.

The adjusted earnings amounted to three cents per Kinross share, which was two cents below analyst estimates of five cents per share and down from US$119.5 million or 10 cents per share reported by the company a year earlier.

Last year's second-quarter included a massive $2.433-billion writedown of Kinross's assets but there were no impairments recorded in this year's comparable period.

Kinross had $46 million of net income before adjustments, or four cents per share, in the three months ended June 30, compared with a 2013 second-quarter net loss of $2.17 per share or $2.48 billion.

The Canadian Press


Read more Business News

23104


Recent Trending




Today's Market
S&P TSX15265.35-200.19
S&P CDNX955.06-10.73
DJIA17279.7413.75
Nasdaq4593.426-13.637
S&P 5002010.40-0.96
CDN Dollar0.9126+0.0004
Gold1216.90-10.00
Oil92.45-0.62
Lumber329.00-0.90
Natural Gas3.911-0.064

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.37+0.05
Cantex0.05-0.01
Anavex Life Sciences0.223-0.0031
Metalex Ventures0.060.00
Russel Metals35.75-1.26
Copper Mountain Mining2.66-0.02
Colorado Resources0.165-0.01
ReliaBrand Inc0.0249+0.0009
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.29-0.01

 



22416

FEATURED Property
160692813222 Oyama Road
4 bedrooms 4 baths
$1,175,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...

_








Member of BC Press Council


22755