How Will Kinross Gold (KGC) Stock React to Earnings Miss?

Kinross Gold (KGC) stock stock closed down on Tuesday before the company reported its 2015 third quarter earnings results.
By Amanda Albright ,

NEW YORK (TheStreet) -- Kinross Gold (KGC) - Get Report stock closed down by 3.28% to $1.77 on Tuesday, ahead of the company's 2015 third quarter earnings results.

The Toronto-based gold mining company reported a loss of 2 cents per share, compared with earnings of 6 cents per share for the third quarter of 2014.

Revenue decreased to $809.4 million, down from $945.7 million for the year-ago period.

Analysts surveyed by Thomson Reutersestimated the company would report earnings of 3 cents per share on revenue of $719.08 million for the most recent quarter.

Kinross Gold also reported that the cost of sales per ounce dropped to the lowest level since the first quarter of 2012.

"Strong operational performance from Fort Knox, Paracatu and Kupol, together with benefits from foreign exchange rates and lower oil prices, contributed to the cost reduction," CEO J. Paul Rollinson said in a statement.

Separately, TheStreet Ratings team rates KINROSS GOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

We rate KINROSS GOLD CORP (KGC) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: KGC

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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