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What Could Help Kinross Gold Outperform Peers in 2019?

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May. 29 2019, Updated 3:55 p.m. ET

Kinross Gold’s earnings performance

Kinross Gold (KGC) released its first-quarter earnings results after the market closed on May 7 and held its conference call on May 8.

The company reported adjusted EPS of $0.07, which beat analysts’ consensus estimate by $0.05. Its revenue of $786.2 million, however, missed analysts’ expectation by $15 million. Kinross maintained its production and cost guidance for 2019.

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KGC’s stock momentum

Kinross Gold stock has fallen 3.1% this year as of May 28, almost on par with the VanEck Vectors Gold Miners ETF (GDX), which has fallen 3.2%. Kinross has also outperformed most peers. Newmont Goldcorp (NEM), Yamana Gold (AUY), Barrick Gold (GOLD), and IAMGOLD (IAG) have returned -6.3%, -22.0%, -13.3%, and -35.3% this year, respectively. This outperformance can be mainly attributed to better-than-expected results in Q4 2018 and Q1 2019.

Peers’ results

Among Kinross’s peers, Barrick Gold (GOLD) released its first-quarter earnings results on May 8. Its EPS of $0.11 beat analysts’ estimate by $0.02, whereas its top line of $2.09 billion missed analysts’ average estimate by ~$60 million.

Meanwhile, Yamana Gold’s (AUY) EPS of $0.02 beat analysts’ estimate by $0.01 but its top line of $407 million beat their estimate by ~1% and Newmont Goldcorp (NEM) beat analysts’ EPS estimate of $0.27 by $0.06. Its revenue of $1.8 billion missed analysts’ estimate by $10 million.

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