Kinross Gold to Post Q4 Earnings: What's in the Cards for the Stock?
Kinross Gold Corporation KGC is slated to release fourth-quarter 2024 results after the closing bell on Feb. 12.See the Zacks Earnings Calendar to stay ahead of market-making news.The company beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters. In this timeframe, it delivered an earnings surprise of 32.5%, on average. It posted an earnings surprise of 33.3% in the last reported quarter. KGC is likely to have benefited from higher average realized gold prices in the quarter to be reported.KGC’s shares have rallied 123.9% over a year compared with the Zacks Mining – Gold industry’s 48.6% rise.Image Source: Zacks Investment ResearchLet’s see how things are shaping up for this announcement.What Our Model Unveils for KGC StockOur proven model predicts an earnings beat for Kinross this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earning beat.Earnings ESP: Earnings ESP for KGC is +8.70%. The Zacks Consensus Estimate for the fourth quarter is currently pegged at 23 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: KGC currently carries a Zacks Rank #3.What do KGC’s Revenue Estimates Say?The Zacks Consensus Estimate for revenues for Kinross for the to-be-reported quarter stands at $1,108.1 million, reflecting a decline of around 0.7% from the year-ago quarter.Factors to Watch For KGC StockHigher gold prices are likely to have supported the company’s performance in the December quarter. Gold has been among the best-performing assets in 2024. Gold prices rallied roughly 27% last year, driven by strong demand from central banks, monetary easing in the United States, global uncertainties and a surge in safe-haven demand thanks to increased tensions in the Middle East and Russia. The strength in gold prices is expected to reflect on KGC’s profitability and cash flows in the fourth quarter. Our estimate for fourth-quarter average realized gold price per ounce is pegged at $2,439, suggesting a 23.6% rise from the prior-year quarter.Kinross has a strong production profile and boasts a promising pipeline of exploration and development projects. Tasiast and Paracatu, the company’s two biggest assets, remain the key contributors to cash flow generation and production. Tasiast, which remains the lowest-cost asset within its portfolio, is likely to have achieved strong performance while Paracatu is expected to continue to have delivered steady production in the fourth quarter. KGC, like most miners, is exposed to higher production costs. In the third quarter of 2024, its production cost of sales per gold equivalent ounce was up roughly 7% from the previous year. All-in-sustaining costs also rose around 4% year over year. While KGC is taking actions to control costs, the inflationary pressure is likely to have continued in the December quarter, weighing on its overall financial performance.Kinross Gold Corporation Price and EPS Surprise Kinross Gold Corporation price-eps-surprise | Kinross Gold Corporation QuoteBasic Materials Stocks That Warrant a LookHere are some companies in the basic materials space you may want to consider as our model shows they too have the right combination of elements to post an earnings beat this quarter:DuPont de Nemours, Inc. DD, slated to release earnings on Feb. 11, has an Earnings ESP of +0.06% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.The consensus estimate for DD’s earnings for the fourth quarter is currently pegged at 98 cents.CF Industries Holdings, Inc. CF, slated to release earnings on Feb. 19, has an Earnings ESP of +1.70% and carries a Zacks Rank #3 at present.The consensus mark for CF’s fourth-quarter earnings is currently pegged at $1.49.Albemarle Corporation ALB, slated to release earnings on Feb. 12, has an Earnings ESP of +13.62% and carries a Zacks Rank #3. The consensus estimate for ALB’s earnings for the fourth quarter is currently pegged at a loss of 49 cents.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DuPont de Nemours, Inc. (DD): Free Stock Analysis Report CF Industries Holdings, Inc. (CF): Free Stock Analysis Report Kinross Gold Corporation (KGC): Free Stock Analysis Report Albemarle Corporation (ALB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks
