Wall Street analysts forecast that Kinross Gold (KGC) will report quarterly earnings of $0.54 per share in its upcoming release, pointing to a year-over-year increase of 170%. It is anticipated that revenues will amount to $1.87 billion, exhibiting an increase of 32.4% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 38.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Kinross Gold metrics that are commonly tracked and forecasted by Wall Street analysts.
According to the collective judgment of analysts, 'Production cost of sales per equivalent ounce sold' should come in at 1263 dollars per ounce. Compared to the present estimate, the company reported 1098 dollars per ounce in the same quarter last year.
The consensus among analysts is that 'Gold equivalent ounces - Produced - Operations Total' will reach 464 millions of ounces. Compared to the current estimate, the company reported 514 millions of ounces in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Attributable all-in sustaining cost per equivalent ounce sold' of $1.79 billion. The estimate compares to the year-ago value of $1.51 billion.
View all Key Company Metrics for Kinross Gold here>>>
Shares of Kinross Gold have experienced a change of +4.6% in the past month compared to the -0.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), KGC is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Kinross Gold Corporation (KGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
