Stifel Canada Forecasts Kinross Gold Q3 Earnings

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Research analysts at Stifel Canada issued their Q3 2024 earnings estimates for Kinross Gold in a report released on Monday, October 21st. Stifel Canada analyst I. Rico anticipates that the mining company will post earnings of $0.18 per share for the quarter. The consensus estimate for Kinross Gold's current full-year earnings is $0.61 per share. Stifel Canada also issued estimates for Kinross Gold's FY2024 earnings at $0.70 EPS.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group upped their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. StockNews.com lowered Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Wednesday, September 25th. CIBC upped their price target on Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Kinross Gold Stock Up 0.1 %

Shares of KGC traded up $0.01 during trading hours on Wednesday, hitting $10.71. The company had a trading volume of 15,946,480 shares, compared to its average volume of 15,222,411. Kinross Gold has a 52-week low of $4.75 and a 52-week high of $10.82. The firm has a fifty day moving average price of $9.44 and a 200-day moving average price of $8.40. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

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

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.12%. Kinross Gold's dividend payout ratio (DPR) is presently 29.27%.

Institutional Investors Weigh In On Kinross Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dakota Wealth Management purchased a new position in shares of Kinross Gold in the third quarter valued at about $106,000. International Assets Investment Management LLC bought a new position in Kinross Gold in the 3rd quarter worth approximately $780,000. Corundum Trust Company INC purchased a new stake in Kinross Gold during the 3rd quarter valued at approximately $94,000. Private Advisor Group LLC raised its position in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company's stock valued at $115,000 after buying an additional 981 shares during the last quarter. Finally, U S Global Investors Inc. lifted its holdings in shares of Kinross Gold by 270.9% in the third quarter. U S Global Investors Inc. now owns 537,868 shares of the mining company's stock worth $5,034,000 after buying an additional 392,868 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.