Kinross Gold (KGC) Stock Higher Today After Third Quarter Earnings Results

NEW YORK (TheStreet) -- Shares of Kinross Gold Corp. (KGC) are up 12.75% to $2.26 after reporting increased 2014 third quarter revenue and earnings that beat analysts' expectations.

The Toronto-based gold mining company reported third quarter revenue of $945.7 million, compared with $876.3 million for the same period a year ago and adjusted net earnings of $70.1 million, or 6 cents per share, compared with $54.4 million, or 5 cents per share a year ago.

The results beat revenue estimates of $853.65 million and earnings estimates of 4 cents per share, according to Reuters.

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Additionally the company raised its full year 2014 guidance of gold equivalent production to 2.6 to 2.7 million ounces from 2.5 million, and said overhead expenses are also expected to be below original guidance of $205 million.

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 a number of negative factors, 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. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."

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

KGC Chart KGC data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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