Kinross Gold FY2024 EPS Cut by National Bank Financial

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Investment analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for shares of Kinross Gold in a report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now expects that the mining company will earn $0.74 per share for the year, down from their prior forecast of $0.82. The consensus estimate for Kinross Gold's current full-year earnings is $0.73 per share.

A number of other research analysts also recently commented on the company. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. CIBC boosted their price target on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and a consensus price target of $11.63.

Kinross Gold Stock Down 1.3 %

Shares of NYSE KGC traded down $0.15 during mid-day trading on Thursday, reaching $11.27. The company had a trading volume of 22,320,648 shares, compared to its average volume of 20,737,160. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $12.28. The stock's 50 day moving average is $10.39 and its 200-day moving average is $9.84. The stock has a market capitalization of $13.85 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Kinross Gold's dividend payout ratio is 19.67%.

Hedge Funds Weigh In On Kinross Gold

A number of institutional investors have recently modified their holdings of the company. Capstone Investment Advisors LLC acquired a new stake in Kinross Gold in the 3rd quarter valued at approximately $774,000. Mediolanum International Funds Ltd bought a new stake in shares of Kinross Gold in the fourth quarter valued at approximately $2,506,000. International Assets Investment Management LLC acquired a new stake in shares of Kinross Gold in the third quarter worth $780,000. Geode Capital Management LLC increased its position in Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company's stock worth $54,803,000 after acquiring an additional 828,456 shares during the period. Finally, Raymond James & Associates raised its stake in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock valued at $3,186,000 after purchasing an additional 69,520 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

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.