Q3 2024 EPS Estimates for Kinross Gold Co. Lifted by Raymond James (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Research analysts at Raymond James raised their Q3 2024 EPS estimates for shares of Kinross Gold in a research report issued to clients and investors on Monday, September 23rd. Raymond James analyst F. Hamed now expects that the mining company will earn $0.16 per share for the quarter, up from their previous estimate of $0.12. The consensus estimate for Kinross Gold's current full-year earnings is $0.59 per share. Raymond James also issued estimates for Kinross Gold's Q4 2024 earnings at $0.19 EPS and FY2024 earnings at $0.60 EPS.

Several other research analysts have also recently issued reports on KGC. Scotiabank increased their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. CIBC raised their price target on Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. StockNews.com lowered shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a "hold" rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kinross Gold currently has an average rating of "Moderate Buy" and an average target price of $9.33.

Kinross Gold Stock Performance

Kinross Gold stock remained flat at $9.75 during trading hours on Wednesday. 12,856,152 shares of the company's stock traded hands, compared to its average volume of 15,567,681. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 0.55 and a beta of 1.23. The business's 50-day simple moving average is $9.00 and its 200-day simple moving average is $7.84. Kinross Gold has a 12 month low of $4.32 and a 12 month high of $10.10.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share.

Institutional Trading of Kinross Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SCP Investment LP grew its position in Kinross Gold by 255.3% during the 4th quarter. SCP Investment LP now owns 66,800 shares of the mining company's stock worth $379,000 after purchasing an additional 48,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Kinross Gold by 33.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,319,428 shares of the mining company's stock worth $32,183,000 after acquiring an additional 1,336,756 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Kinross Gold by 29.6% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 39,203 shares of the mining company's stock worth $237,000 after acquiring an additional 8,953 shares during the period. United Services Automobile Association purchased a new stake in Kinross Gold during the 4th quarter valued at about $287,000. Finally, TD Asset Management Inc increased its holdings in shares of Kinross Gold by 0.4% in the fourth quarter. TD Asset Management Inc now owns 3,909,915 shares of the mining company's stock valued at $23,781,000 after purchasing an additional 15,218 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, August 22nd. Kinross Gold's payout ratio is presently 33.33%.

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.