Q2 2024 EPS Estimates for Kinross Gold Co. Lifted by Raymond James (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Stock analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for Kinross Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.12 for the quarter, up from their prior estimate of $0.04. The consensus estimate for Kinross Gold’s current full-year earnings is $0.37 per share. Raymond James also issued estimates for Kinross Gold’s Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.14 EPS and FY2024 earnings at $0.44 EPS.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year.

KGC has been the subject of a number of other research reports. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Jefferies Financial Group lifted their price target on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday. CIBC raised their target price on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.44.

Kinross Gold Trading Up 2.0 %

NYSE:KGC opened at $6.74 on Friday. The firm’s 50 day moving average is $5.79 and its 200 day moving average is $5.63. Kinross Gold has a 12 month low of $4.32 and a 12 month high of $6.82. The stock has a market capitalization of $8.27 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36.

Hedge Funds Weigh In On Kinross Gold

A number of hedge funds and other institutional investors have recently modified their holdings of KGC. Bruce G. Allen Investments LLC purchased a new stake in Kinross Gold in the fourth quarter worth approximately $26,000. CWM LLC grew its holdings in shares of Kinross Gold by 353.2% during the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after purchasing an additional 5,750 shares during the last quarter. Headlands Technologies LLC purchased a new position in Kinross Gold in the 4th quarter worth $44,000. Compagnie Lombard Odier SCmA bought a new stake in Kinross Gold in the fourth quarter worth $53,000. Finally, Advisor Resource Council purchased a new stake in Kinross Gold during the first quarter valued at about $60,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.78%. Kinross Gold’s payout ratio is 35.29%.

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.