FY2024 EPS Estimate for Kinross Gold Increased by Analyst

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Research analysts at Scotiabank raised their FY2024 earnings estimates for Kinross Gold in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will post earnings of $0.66 per share for the year, up from their previous forecast of $0.56. The consensus estimate for Kinross Gold's current full-year earnings is $0.70 per share. Scotiabank also issued estimates for Kinross Gold's FY2026 earnings at $0.64 EPS.

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

Several other research firms have also recently issued reports on KGC. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $11.13.

Kinross Gold Stock Performance

NYSE:KGC traded up $0.07 during mid-day trading on Friday, hitting $10.45. 28,582,292 shares of the company traded hands, compared to its average volume of 22,640,912. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The stock's fifty day moving average price is $9.76 and its 200-day moving average price is $9.40. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. Kinross Gold has a one year low of $4.75 and a one year high of $10.82.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, November 27th. Kinross Gold's payout ratio is 19.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KGC. Corundum Trust Company INC bought a new position in Kinross Gold during the 3rd quarter valued at about $94,000. OneDigital Investment Advisors LLC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $94,000. EP Wealth Advisors LLC purchased a new stake in shares of Kinross Gold in the third quarter worth approximately $95,000. Fiera Capital Corp purchased a new stake in shares of Kinross Gold in the third quarter worth approximately $99,000. Finally, M&T Bank Corp bought a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $100,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

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.