Wall Street analysts forecast that Kinross Gold (KGC) will report quarterly earnings of $0.32 per share in its upcoming release, pointing to a year-over-year increase of 128.6%. It is anticipated that revenues will amount to $1.35 billion, exhibiting an increase of 10.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 3.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Kinross Gold metrics that Wall Street analysts commonly model and monitor.
Analysts' assessment points toward 'Average realized gold price per ounce' reaching $2885.45 . Compared to the present estimate, the company reported $2342.00 in the same quarter last year.
The consensus estimate for 'Production cost of sales per equivalent ounce sold' stands at 1199 dollars per ounce. The estimate is in contrast to the year-ago figure of 1029 dollars per ounce.
Based on the collective assessment of analysts, 'Attributable all-in sustaining cost per equivalent ounce sold' should arrive at $1.57 billion. The estimate compares to the year-ago value of $1.39 billion.
View all Key Company Metrics for Kinross Gold here>>>
Shares of Kinross Gold have demonstrated returns of +8.2% over the past month compared to the Zacks S&P 500 composite's +4.9% change. With a Zacks Rank #1 (Strong Buy), KGC is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Kinross Gold Corporation (KGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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