Scotiabank Issues Positive Outlook for Kinross Gold Earnings

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Equities research analysts at Scotiabank increased their FY2025 earnings estimates for Kinross Gold in a research report issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will post earnings of $0.80 per share for the year, up from their prior forecast of $0.56. The consensus estimate for Kinross Gold's current full-year earnings is $0.70 per share.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its 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 return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $0.12 earnings per share. The company's revenue for the quarter was up 29.9% on a year-over-year basis.

Several other analysts have also recently commented on KGC. StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Jefferies Financial Group raised 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. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $11.13.

Kinross Gold Stock Up 0.7 %

Shares of Kinross Gold stock opened at $10.45 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a 50-day moving average price of $9.76 and a 200 day moving average price of $9.43. The company has a market cap of $12.84 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.44 and a beta of 1.21.

Kinross Gold Announces Dividend

The firm also recently announced 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. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.15%. Kinross Gold's payout ratio is 19.67%.

Hedge Funds Weigh In On Kinross Gold

Several large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kinross Gold by 5.1% during 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 during the period. Mackenzie Financial Corp increased its stake in Kinross Gold by 6.2% during the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company's stock valued at $91,255,000 after acquiring an additional 643,013 shares during the period. National Bank of Canada FI raised its holdings in Kinross Gold by 0.7% in the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company's stock valued at $90,022,000 after acquiring an additional 70,376 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kinross Gold by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company's stock worth $72,867,000 after acquiring an additional 1,777,076 shares during the period. Finally, Artemis Investment Management LLP grew its holdings in shares of Kinross Gold by 28.0% during the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company's stock worth $80,191,000 after purchasing an additional 1,871,939 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

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.