Feb 11, 2021
Kinross reported fourth-quarter results with few surprises, as its production of 2.4 million gold equivalent ounces at cost of sales of $723 per ounce and all-in sustaining cost of $987 per ounce were within guidance. With average realized gold prices 30% higher than last year, adjusted operating cash flow rose 36% to $528 million. Read Full Analysis
Business Description Kinross Gold is a Canada-based senior gold producer, producing roughly 2.4 million gold equivalent ounces in 2020. The company had 30 million ounces of proven and probable gold reserves and 59 million ounces of silver reserves at the end of 2020. It operates mines and focuses its greenfield and brownfield exploration in the Americas, West Africa, and Russia. The company has historically used acquisitions to fuel expansion into new regions and production growth.
Feb 3, 2021
No-moat FireEye topped FactSet consensus estimates with 5% year-over-year revenue growth and an adjusted EPS of $0.12 in the fourth quarter. With its leading capabilities in security response and threat intelligence, we expect FireEye to be a main benefactor of the Sunburst breach. Revenue recognized in the quarter that was related to the widespread breach was minimal due to timing but solidly increased deferred revenue for services. Our expectation is that FireEye services will be positively impacted in 2021, which can turn into add-on product sales, and that organizations will keep shifting buying habits toward platform and cloud subscriptions from product and related subscriptions. We are maintaining our $16 fair value estimate and view shares as overvalued.
Feb 18, 2021
Wide-moat Baidu has reported a solid fourth quarter, broadly in line with our estimates, with revenue up 6% and operating profit up 7%. Baidu core revenue was up 6% with operating profit down 8%, although the performance here is clouded by the inclusion of the fast-growing Cloud business in the core Baidu core non-advertising revenue in the fourth quarter grew 52% year over year. iQiyi revenue declined 1% with its operating loss reducing to RMB1.3 billion from RMB 2.5 billion in the previous period, with the reduced iQiyi losses the main driver of Baidu’s operating profit growth. Revenue guidance for the first quarter of 2021 of between RMB 26.0 billion and RMB 28.5 billion represents a growth rate of 15% to 26% and assumes that Baidu Core revenue will grow between 26% and 39%. No YY Live consolidation is included in this guidance. The first quarter of 2021 will cycle the worst quarter of COVID-19 impacts in 2020, which itself saw 7% consolidated revenue de
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Correction to Your 2021 Tax Fact Sheet and Calendar March 26, 2021 An earlier version of this article incorrectly stated that May 17, 2021, is the deadline for estimated taxes for the first quarter of 2021. The deadline is April 15, 2021.
Correction to Analyst Note for American Funds Income Fund of America March 9, 2021 Morningstar published an analyst note that incorrectly stated that American Funds Income Fund of America s dividend is being cut. This note has since been published for the correct fund, American Funds Capital Income Builder.
Correction to VMware CEO Departure Provides Buying Opportunity March 4, 2021 This Stock Analyst Update was corrected to list author Mark Cash.