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.
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