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

Xiaomi 12 Ultra rear panel design revealed

The Xiaomi Mi 11 Ultra came with an unorthodox camera island, spanning from one end to another, adding a tiny screen in the mix. Its successor, 12 Ultra ( there’s no Mi anymore in the name ), is also going for an unorthodox look, according to some leaked cases , and our colleagues from the Dutch website LetsGoDigital provided us with 3D concept renders of the phone. Xiaomi 12 Ultra 3D renders The main camera and the ultrawide snapper will be in the center and on the left, while the telephoto periscope lens will be on the bottom of the setup. There’s a fourth camera at the top of the circle, which could be a ToF sensor or a shorter telephoto in the 2x-3x range. The rest of the cutouts will be for the LED flash, the light sensor and the PDAF. Earlier this year a trustworthy leakster revealed Leica has struck a deal with Xiaomi, and the setup of the 12 Ultra will be branded with the logo of the camera company. This isn’t confirmed yet from t...

Samsung Galaxy S22ultra gets 45W charger

Samsung will bring back the 45W charging standard to its smartphones, starting with the Galaxy S22 Ultra, leakster Roland Quandt reveals. He shared an image of the new PD charger with the model number EP-T4510, which will obviously be sold separately. The travel charger will come with a USB-C to USB-C cable in the retail package, according to the leaked image. If the leakster is correct, this would mean we'll once again see a Galaxy smartphone with 45W charging. The last one was the Galaxy S20 Ultra , introduced in February 2020. Back then the 45W charger would throttle extremely quickly and barely made any difference in charging speeds compared to the 25W one. The current 45W adapter looks very similar, and also comes with a USB-C to USB-C cable. The main difference on the outside is the smaller size of the upcoming EP-T4510 compared to the current EP-TA845XBNG. The included cable will be 1.8 meters long, which is longer than the current 1-meter cable. The cu...

Samsung Galaxy S22ultra Red

time goes by, more and more details are becoming known about the Galaxy S22 series – expected in February 2022. It has been known for some time that the new top model, the Galaxy S22 Ultra / S22 Note, will be released in at least four colors: black, white, green and red. Yesterday the exact color code of the green model became known. Based on this, LetsGoDigital has quickly made a series of 3D product renders of the Galaxy S22 Ultra green . It didn’t take long for the color code of the red model to surface online as well. Thanks to Twitterer Yogesh Brar we now also have an idea of what the Samsung Galaxy S22 Ultra red will look like. According to Yogesh, Samsung will use hexadecimal color code #B61919. Based on this new information, in-house graphic designer Parvez Khan, aka Technizo Concept , created a series of 3D product images, in order to visualize this color as accurately as possible. LetsGoDigital has also been in contac...

TechRac

Search This Blog