Kinross Performs Well in the First Quarter and Is on Track to Hit Guidance; Shares Look Undervalued
Kinross started the year off well in the first quarter. Although production declined 7% to 606,031 attributable gold equivalent ounces (GEO) and all-in sustaining cost (AISC) rose 9% to $925 per GEO, this was largely in line with expectations. The company maintained its full-year guidance of 2.5 million GEO at AISC of $995 per GEO. The first-quarter results put the company on track to meet, if not beat, its guidance.Much of the cost inflation occurred at Fort Knox and Bald Mountain and was attr...
Kinross Gold is engaged in the mining and processing of gold and, as a by-product, silver ore and the exploration for, and the acquisition of, gold bearing properties in the Americas, the Russian Federation, West Africa and worldwide. As of Dec 31 2013, Co.'s proven mineral reserves for gold and silver were 1,122 ounces and 1,179 ounces respectively.7,883 7,883 7,883
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