Kinross Earnings Ahead Of J.P. Morgan Estimate; In Line With Consensus

Kinross KGC announced further growth in production from Paracatu, but a tough Andean winter raised costs at the Chilean mines, J.P. Morgan reports. “There are lots of moving parts in the financials, as the company bought Red Back sold Harry Winston and introduced 13 days of Red Back production into its operating results,” J.P. Morgan writes. “Additionally KGC received approval for its 100% purchase of the Dvoinoye mine; a first for a non-Russian company. The reported $0.16 of earnings was ahead of our forecast but in line with consensus.” Kinross currently trades at $17.81.