Company News

BUZZ-Kinross Gold: Set for worst day since Oct 2016 as output drops

** Canadian gold miner’s shares fall as much as 13.4 pct to $3.57 in early trading as Q1 production falls

** Stock on course for its biggest one-day pct loss since Oct 2016

** Production falls to 653,937 gold equivalent ounces from 671,956 ounces a year ago

** Jefferies says good operational performance may be supportive of KGC shares, but upside is largely dependent on higher gold prices

** Including today’s losses, stock down ~14 pct YTD vs 0.8 pct rise in gold prices; gold rose ~13 pct last year

** However, lower costs and 9 pct rise in realized gold prices help KGC beat Q1 profit est by 5 cents, according to TR I/B/E/S (Reporting by Anirban Paul and John Benny)