FY2024 EPS Estimates for Kinross Gold Lifted by Analyst

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Equities research analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Kinross Gold in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates 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.

Several other equities analysts also recently commented on the stock. Scotiabank boosted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC increased their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com lowered 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 increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.50.

Kinross Gold Stock Up 0.6 %

Shares of NYSE:KGC opened at $10.77 on Friday. The firm has a market capitalization of $13.24 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. 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 current ratio of 1.27 and a quick ratio of 0.52. The firm’s 50-day moving average is $9.48 and its two-hundred day moving average is $8.41.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data 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 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 the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year.

Hedge Funds Weigh In On Kinross Gold

Several institutional investors have recently added to or reduced their stakes in the stock. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Kinross Gold during the third quarter worth approximately $319,000. Leuthold Group LLC purchased a new position in Kinross Gold during the 3rd quarter worth $2,372,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Kinross Gold by 0.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 852,306 shares of the mining company’s stock worth $7,920,000 after acquiring an additional 7,698 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Kinross Gold by 9.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in shares of Kinross Gold during the third quarter worth about $2,315,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is 29.27%.

About Kinross Gold

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.