Cormark Analysts Lift Earnings Estimates for Kinross Gold

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Cormark lifted their Q3 2024 EPS estimates for Kinross Gold in a research note issued to investors on Wednesday, October 23rd. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.18 per share for the quarter, up from their previous estimate of $0.16. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share.

KGC has been the subject of several other research reports. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. CIBC boosted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Stock Performance

Shares of KGC opened at $10.77 on Friday. The company has a market cap of $13.24 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The firm has a fifty day moving average of $9.48 and a 200-day moving average of $8.41. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Hedge Funds Weigh In On Kinross Gold

A number of large investors have recently made changes to their positions in the business. Private Advisor Group LLC grew its stake in shares of Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after buying an additional 981 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after buying an additional 2,180 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Kinross Gold by 9.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after purchasing an additional 2,200 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in Kinross Gold by 3.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock worth $647,000 after purchasing an additional 3,070 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.11%. Kinross Gold’s dividend payout ratio is 29.27%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.