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Risk-to-Price Commentary: Kinross Gold Corp. Feb 13 Product Image

Risk-to-Price Commentary: Kinross Gold Corp. Feb 13

  • ID: 2405517
  • February 2013
  • Standard & Poors

Abstract
On Feb. 13, 2013, Kinross Gold Corp., the Canadian gold mining and processing company, is poised to report fourth-quarter net income of $244m, according to S&P Capital IQ analysts, 24% higher than fourth-quarter 2011. On Nov. 7, 2012, the company beat consensus analyst estimates by reporting third quarter net income of $225 million, a modest increase over $207 million for the same period in 2011. Third-quarter adjusted net earnings declined 7% to $250 million, partly due to a severance package the company paid its former CEO. Earlier in the year, Kinross announced a cost reduction initiative and has targeted a $200m capital expenditure budget reduction for 2012. In our Feb. 1, 2013, review of the North American materials subsector, the...

Companies mentioned in this report are:
- Kinross Gold Corp.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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