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Jul 29, 2020

Kinross Gold's US$195.7M second-quarter profit beats expectations


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Kinross Gold Corp. (KGC) on Wednesday reported second-quarter profit of US$195.7 million.

The Toronto-based company said it had net income of 15 cents US per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 14 cents US per share.

The gold mining company posted revenue of US$1.01 billion in the period.

Kinross Gold shares have increased 86 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit US$8.82, more than doubling in the last 12 months.