Check out world expensive Mercedes ever made

This article is more than 10 years old.

Kinross Gold posted second quarter earnings after the bell on Wednesday, beating expectations and rising, both during the session and afterhours, as investors continue to pile into gold amid global uncertainty, nervousness, and fear.

Toronto, Canada-based Kinross posted strong second quarter earnings, with adjusted net income more than doubling to $226.5 million, up from $110.4 million in the second quarter of 2010. In an adjusted per share basis, Kinross earned 20 cents, beating Wall Street’s consensus forecast of 17 cents.

Gold has become the new fear gauge, said market chatter Wednesday’s market chatter, and Kinross made the most of it. With gold pushing up against nominal all-time highs, Kinross sold 606,896 ounces of the shiny metal in the second quarter, up 16.8%. Realizing an average price of $1,449 per ounce, Kinross made $973 per ounce sold, up 31%. (Read Gold Hits All-Time High Of $1,778 As JPMorgan Says It Could Test $2,500).

Revenue hit $987.8 million, a 42% gain.

Kinross produced a record 704,447, up 26%, and remains on track to produce 2.6 to 2.7 million ounces by the end of 2011. Adjusted operating cash flow hit $413.1 million, up from $282.5 million.

“Solid performance from our operations – notably Kupol, Maricunga, and Fort Knox – helped Kinross to deliver record production, revenue, and margins in the second quarter amid continuing strong gold prices,” said Tye Burt, president and CEO of Kinross. “Despite industry-wide cost pressures, our second quarter cost of sales remained at the low end of our guidance range,” added Burt.

The company announced a 20% dividend increase, and will pay 6 cents per share on September 30.

Shares in Kinross rallied during Wednesday’s session despite generalized weakness and steep declines in all three major U.S. equity indices. After having gained 1.75% to $16.26, Kinross rallied a little more afterhours, and was trading up 0.55% or 9 cents to $16.35 by 5:05 PM in New York. (Read Fear Index VIX Up 50%, In Backwardation, Confirms Fully-Fledged Bear Market).

Comments

How to bypass iCloud

This tutorial reviews and compares the best iCloud Bypass Tools to help you with the iCloud/iPhone activation lock removal/bypass process: Apple iCloud is an online cloud storage service built into every Apple device. You can log into the online account by entering your user ID and password. If you happen to forget your iCloud password, your phone would be locked. Fortunately, you can use an iCloud activation lock removal to get access to your phone. Here we have reviewed the best apps to remove the iCloud lock. We have reviewed both free and paid iPhone activation lock removal apps so that you can select the best one that meets your requirements. What You Will Learn: [ hide ] iCloud Activation Lock Removal Frequently Asked Questions List Of The Best iCloud Bypass Tools Comparison Of Top iCloud Activation Bypass Tools #1) iRemove – ByPass iCloud Activation Lock Screen Tool #2) Tenorshare 4MeKey #3) CheckM8 iCloud Activation Lock Bypass #4) WooTechy iSalvor #5) iCloudUnlock #6) iCl...

Iphone 14 will have a punch hole display

Reports about Apple bringing a punch-hole screen to the iPhone 14 series are not new , but another insider doubled down on them during the weekend. Mark Gurman, Editor at Bloomberg who specializes in Apple products, revealed in his latest podcast Power On he expects Apple to ditch the notch on some 2022 devices. The new year will also bring us a redesigned MacBook Air with an M2 chip and wireless charging for the 2022 iPad Pro. When/if the iPhone 14 series comes with a punch-hole solution, FaceID will likely make it under the display. Apple has been working on the technology for quite some time, and it is likely to appear during the launch in the fall. Gurman claimed the new M2 chip would be “marginally faster” than the M1. It should have an octa-core CPU and 9- or 10-core GPU, which would be an upgrade over the 8-core GPU on the current Air. A new, internally-developed chip is also expected for the Mac Pro and an AR/VR headset, which is likely to make an appearance at WWD...

Pi Coin listened on Huobi Wallet

User Huobi Opens Pi (Pi Network) Spot Trading, Remarkable Price At $60 7h ago • CoinCu Bullish: 1 Bearish: 0 Share Huobi Opens Pi (Pi Network) Spot Trading, Remarkable Price At $60 Key Points: Pi (Pi Network) spot trading (PI/USDT ) is now available on the Huobi exchange. Huobi is the second exchange to list Pi currency after XT.com. Pi Network has officially listed on the Huobi exchange, according to the latest statement, Huobi announced it will be opening Pi (Pi Network) spot trading (PI/USDT ) at 09:00 (UTC) on December 29 . Huobi Opens Pi (Pi Network) Spot Trading, Remarkable Price At $60 3 days ago, Coincu reported that Huobi announced it will follow up closely with updates to review Pi for listing at the soonest. On the same day, XT.COM also announced that PI(Pi Network) would be listed on its exchange. Pi Network recently seems to be a finishing line in a race of listing to some exchanges, XT.COM release an announcement yesterday, saying the Pi has been listed as the PI/USDT pai...

TechRac

Search This Blog