On Thursday, in the course of current trade, Shares of Kinross Gold Corporation (USA) (NYSE:KGC), dropped -4.19%, and is now trading at $1.72.
Kinross Gold Corporation, declared its results for the second quarter ended June 30, 2015.
2015 second quarter highlights:
- Production 1 : 660,898 gold equivalent ounces (Au eq. oz.), contrast with 679,831 ounces in Q2 2014.
- Revenue: $755.2 million, contrast with $911.9 million in Q2 2014.
- Production cost of sales 2: $724 per Au eq. oz., contrast with $742 in Q2 2014.
- All-in sustaining cost 2: $1,011 per Au eq. oz. sold, contrast with $976 in Q2 2014. All-in sustaining cost per gold ounce (Au oz.) sold on a by-product basis was $1,006 in Q2 2015, contrast with $967 in Q2 2014.
- Adjusted operating cash flow 2: $161.4 million, or $0.14 per share, contrast with $240.3 million, or $0.21 per share, in Q2 2014.
- Adjusted net earnings/loss 2,3: Loss of $13.6 million, or $0.01 per share, contrast with adjusted earnings of $32.9 million, or $0.03 per share, in Q2 2014.
- Stated net earnings/loss 3: Loss of $83.2 million, or $0.07 per share, contrast with earnings of $46.0 million, or $0.04 per share, in Q2 2014.
- Balance sheet strength: Raised cash and cash equivalents to $1,031.4 million, reduced net debt 4 to $960.2 million, $250 million in senior notes due in 2016 only noteworthydebt maturity until 2019.
- Average realized gold price: $1,194 per ounce, contrast with $1,285 per ounce in Q2 2014.
- Outlook: Kinross is tracking at the high end of 2015 guidance for production (2.4 - 2.6 million Au eq. oz.), at the low end of guidance for production cost of sales ($720 - $780 per Au eq. oz.) and all-in sustaining cost ($1,000 - $1,100 per Au eq. oz.), and below total capital expenditure guidance ($725 million).
- Comprehensive spending review: Kinross is ongoing its comprehensive review of its non-operating discretionary spending in order to further reduce costs. This is in addition to further measures being taken to strengthen the business, counting plans to reduce costs and enhance performance at its Tasiast operation, and a contract reached in July to extend Kinross debt profile and amend its debt covenant.
Kinross Gold Corporation, together with its auxiliaries, engages in the acquisition, exploration, and development of gold bearing properties. It is involved in mining and processing gold and silver ores.
During an Afternoon trade, Shares of Baker Hughes Incorporated (NYSE:BHI), dipped -2.04%, and is now trading at $58.44.
Baker Hughes Incorporated, declared that the Baker Hughes Board of Directors declared the regular quarterly cash dividend of $0.17 per share of common stock payable September 23, 2015 to holders of record on September 2, 2015.
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company’s 49,000 employees work in more than 80 countries assisting customers find, evaluate, drill, produce, transport and process hydrocarbon resources.
Baker Hughes Incorporated supplies oilfield services, products, technology, and systems to the oil and natural gas industry worldwide. The company offers drilling and evaluation products and services, which comprise drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems used to drill wells; measurement-while-drilling and logging-while-drilling systems to perform reservoir navigation services; drilling optimization services; tools for coil tubing drilling and wellbore re-entry systems; coring drilling systems; surface logging; emulsion and water-based drilling fluids systems; reservoir drill-in fluids; and fluids environmental services.
Finally, Colfax Corp (NYSE:CFX) , lost -0.75% Thursday.
Colfax Corporation, declared its financial results for the second quarter ended June 26, 2015.
For the second quarter of 2015, net income was $53.1 million, or $0.42 per dilutive share. Adjusted net income (as defined below) was $63.0 million, or $0.50 per share, contrast to $59.6 million for the second quarter of 2014, or $0.48 per share.
Colfax Corporation, an industrial manufacturing and engineering company, provides gas-and fluid-handling, and fabrication technology products and services to commercial and governmental customers worldwide.
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