The 10-second takeaway
For the quarter ended June 30 (Q2), Kinross Gold missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Kinross Gold booked revenue of $1.01 billion. The six analysts polled by S&P Capital IQ predicted revenue of $1.04 billion on the same basis. GAAP reported sales were 1.9% higher than the prior-year quarter's $987.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.14. The 17 earnings estimates compiled by S&P Capital IQ forecast $0.18 per share. GAAP EPS of $0.13 for Q2 were 41% lower than the prior-year quarter's $0.22 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.8%, 600 basis points worse than the prior-year quarter. Operating margin was 25.7%, 1,060 basis points worse than the prior-year quarter. Net margin was 15.3%, 970 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.16 billion. On the bottom line, the average EPS estimate is $0.22.
Next year's average estimate for revenue is $4.46 billion. The average EPS estimate is $0.82.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,379 members out of 1,438 rating the stock outperform, and 59 members rating it underperform. Among 207 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 193 give Kinross Gold a green thumbs-up, and 14 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kinross Gold is outperform, with an average price target of $12.93.
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