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Kinross (KGC) Beats Earnings and Revenue Estimates in Q1

Kinross Gold Corporation KGCreported net profit of $106.1 million or 8 cents per share in first-quarter 2018, down 21.2% from $134.6 million or 11 cents recorded in the year-ago quarter.

The company’s adjusted earnings (excluding one-time items) were $125.2 million or 10 cents per share, more than five-fold rise from $23.

4 million or 2 cents recorded a year-ago. Earnings per share surpassed the Zacks Consensus Estimate of 5 cents.

Revenues of $897.2 million in the quarter rose around 12.7% from $796.1 million recorded in the year-ago quarter owing to an increase in gold equivalent ounces sold and a higher realized gold price. Revenues beat the Zacks Consensus Estimate of $816 million.

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