[U.S. Stock Fluctuation] Kinross Gold Plunges on October 30: Gold Price Falls Below 4,000, Revenue Misses Expectations

Kinross Gold October 30: Analysis of Sharp Decline

Keywords: Gold price falls below 4,000, revenue below expectations

1. On October 30, spot gold fell below $4,000/oz. The US Federal Reserve released hawkish signals at its policy meeting, and the market raised the probability of a rate hike in December. US Treasury yields rose, gold stocks plummeted across the board, and Kinross Gold dropped more than 6%.

2. After the close on October 28, the company disclosed third-quarter revenue of $1.775 billion, lower than the market expectation of $1.965 billion and down about 1.5% year-on-year; gold equivalent production was 424,693 ounces. The company attributed the earnings decline to lower production and sales volume. Sales cost was $1,502/oz, all-in sustaining cost was $1,947/oz, both at relatively high levels. On October 29, an analyst revised the current quarter’s earnings per share forecast from $0.59 to $0.53.

(Disclaimer: This content is collected and summarized by AI technology from public information, for reference only, and does not constitute investment advice.)