Kinross Gold FY2024 EPS Increased by National Bank Financial

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Equities researchers at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Kinross Gold in a report released on Wednesday, November 6th. National Bank Financial analyst M. Parkin now forecasts that the mining company will post earnings of $0.82 per share for the year, up from their previous forecast of $0.78. The consensus estimate for Kinross Gold's current full-year earnings is $0.66 per share.

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, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold's quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS.

Several other equities research analysts also recently commented on KGC. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. StockNews.com downgraded Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st. Finally, Scotiabank lifted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $9.50.

Kinross Gold Stock Down 2.2 %

Shares of KGC traded down $0.23 during trading hours on Friday, hitting $10.46. The company had a trading volume of 20,685,947 shares, compared to its average volume of 15,361,854. The firm has a fifty day moving average price of $9.71 and a 200-day moving average price of $8.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 1.61. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 0.50 and a beta of 1.22. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. Kinross Gold's dividend payout ratio (DPR) is presently 19.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock worth $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Boston Partners lifted its holdings in Kinross Gold by 7.9% in the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company's stock worth $111,730,000 after purchasing an additional 1,328,372 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kinross Gold by 5.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company's stock worth $124,276,000 after purchasing an additional 642,007 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company's stock worth $91,255,000 after acquiring an additional 643,013 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Kinross Gold by 31.2% during the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock worth $78,946,000 after acquiring an additional 2,267,999 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

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.