FY2024 EPS Estimate for Kinross Gold Lifted by Analyst

Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K - Research analysts at National Bank Financial raised their FY2024 earnings per share estimates for shares of Kinross Gold in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the mining company will earn $0.78 per share for the year, up from their previous estimate of $0.65. The consensus estimate for Kinross Gold's current full-year earnings is $0.63 per share. National Bank Financial also issued estimates for Kinross Gold's FY2025 earnings at $1.14 EPS.

A number of other analysts have also recently commented on KGC. Jefferies Financial Group upped their price target on Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Friday, October 4th. CIBC increased their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Scotiabank lifted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Finally, StockNews.com cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Kinross Gold Trading Down 2.0 %

NYSE KGC traded down $0.22 on Friday, reaching $10.53. The company had a trading volume of 13,570,386 shares, compared to its average volume of 15,252,413. Kinross Gold has a 52 week low of $4.75 and a 52 week high of $10.82. The stock's 50 day moving average is $9.51 and its 200-day moving average is $8.44. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 0.58 and a beta of 1.24.

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

Kinross Gold Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.14%. Kinross Gold's dividend payout ratio is currently 29.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KGC. Private Advisor Group LLC increased its stake in Kinross Gold by 8.7% in the 3rd 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. First Trust Direct Indexing L.P. grew its holdings in shares of Kinross Gold by 2.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company's stock valued at $447,000 after acquiring an additional 1,235 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company's stock valued at $122,000 after acquiring an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Kinross Gold by 18.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company's stock worth $119,000 after acquiring an additional 2,180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Kinross Gold by 9.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company's stock valued at $241,000 after purchasing an additional 2,200 shares during the last quarter. 63.69% of the stock is currently owned by 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.