May 3, 2017 / 4:50 PM / a year ago

BUZZ-Kinross Gold Corp: Shares rise on Q1 profit, revenue beat

** Canadian gold miner’s shares rise as much as 12.2 pct to C$5.15; shares set to close at 11-month high - after positive Q1 results

** Stock is 2nd biggest gainer on TSX and most heavily traded with over 7.9 mln shares exchanging hands as of 12:30 pm ET

** Kinross reports better-than-expected Q1 profit and revenue, driven by higher volumes and lower costs

** Forecasts 2017 capital expenditure of $900 mln and says on track to meet annual forecast for production and costs

** However, Jefferies says in a note that Kinross is still “high risk and very dependent on a higher gold price for its earnings and cash flow to grow”

** Up to Tuesday’s close, stock had gained nearly 10 pct YTD

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