FY2024 EPS Estimates for Kinross Gold Raised by Analyst

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at National Bank Financial lifted their FY2024 EPS estimates for shares of Kinross Gold in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the mining company will post earnings per share of $0.78 for the year, up from their prior estimate of $0.65. The consensus estimate for Kinross Gold’s current full-year earnings is $0.63 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2025 earnings at $1.14 EPS.

Other equities analysts have also issued research reports about the company. CIBC lifted their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group upped their price objective 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Up 0.6 %

KGC stock opened at $10.77 on Friday. The firm’s fifty day moving average is $9.48 and its 200 day moving average is $8.41. The firm has a market cap of $13.24 billion, a PE ratio of 26.27, a P/E/G ratio of 0.58 and a beta of 1.24. Kinross Gold has a one year low of $4.75 and a one 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 posted its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $0.14 earnings per share. Kinross Gold’s revenue for the quarter was up 11.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Atlas Capital Advisors LLC purchased a new stake in Kinross Gold in the 2nd quarter valued at $40,000. Advisor Resource Council acquired a new stake in Kinross Gold during the first quarter worth about $60,000. Bright Futures Wealth Management LLC. acquired a new stake in shares of Kinross Gold during the 1st quarter worth approximately $70,000. Fifth Third Bancorp lifted its holdings in Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after acquiring an additional 9,375 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after purchasing an additional 6,011 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.11%. Kinross Gold’s dividend payout ratio is presently 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.