Deutsche Bank Discusses Kinross Gold After Earnings (KGC)

Deutsche Bank has a note on Kinross Gold Corporation (USA) KGC after it reported earnings yesterday. It has a Hold rating on shares and a $20 price target. In a note to clients, Deutsche Bank writes, "Kinross Gold's (KGC) adj. 3Q10 dil. EPS came in at $0.16 in-line with DBe and 1c above Bloomberg consensus of $0.15. Reported EPS of $0.44 included $238m net gain from sale of assets (~$0.30/share post-tax impact). Results included 14 days of Red Back's (RB) West Africa operations following deal closure on Sept. 17. Results were largely in-line, with higher gold sales volume offset by a lower realized gold price and higher unit cash costs. Maintain Hold." Shares of KGC lost 14 cents yesterday to close at $17.81, a loss of 0.8%.