What is Cormark's Forecast for Kinross Gold FY2024 Earnings?

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Analysts at Cormark increased their FY2024 earnings per share estimates for Kinross Gold in a research report issued to clients and investors on Thursday, November 7th. Cormark analyst R. Gray now expects that the mining company will post earnings per share of $0.73 for the year, up from their previous estimate of $0.59. The consensus estimate for Kinross Gold's current full-year earnings is $0.66 per share. Cormark also issued estimates for Kinross Gold's Q4 2024 earnings at $0.24 EPS, FY2025 earnings at $0.90 EPS and FY2026 earnings at $0.86 EPS.

KGC has been the topic of a number of other research reports. StockNews.com lowered shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Jefferies Financial Group boosted 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. Finally, Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Kinross Gold has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Kinross Gold Trading Down 2.2 %

Shares of NYSE KGC traded down $0.23 during trading on Friday, hitting $10.46. 20,685,947 shares of the company traded hands, compared to its average volume of 15,361,854. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The company has a 50-day moving average price of $9.71 and a 200-day moving average price of $8.68. The firm has a market capitalization of $12.85 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.50 and a beta of 1.22. The company has a quick ratio of 0.52, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $0.12 EPS. The company's revenue for the quarter was up 29.9% on a year-over-year basis.

Institutional Trading of Kinross Gold

Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its position in shares of Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company's stock worth $115,000 after acquiring an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Kinross Gold by 2.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company's stock valued at $447,000 after buying an additional 1,235 shares in the last quarter. Cetera Advisors LLC raised its holdings in Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company's stock worth $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew 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. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold's dividend payout ratio is currently 19.67%.

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.