Q1 2022 Earnings Forecast for Kinross Gold Co. Issued By Raymond James (NYSE:KGC)

Kinross Gold Co. (NYSE:KGCGet Rating) (TSE:K) – Equities researchers at Raymond James dropped their Q1 2022 earnings per share estimates for shares of Kinross Gold in a research report issued to clients and investors on Tuesday, April 19th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.05 for the quarter, down from their previous estimate of $0.06. Raymond James currently has a “Outperform” rating and a $7.50 target price on the stock. Raymond James also issued estimates for Kinross Gold’s Q1 2023 earnings at $0.12 EPS, Q2 2023 earnings at $0.12 EPS, Q3 2023 earnings at $0.12 EPS, Q4 2023 earnings at $0.13 EPS and FY2023 earnings at $0.50 EPS.

Several other analysts have also recently issued reports on the stock. National Bank Financial upped their target price on shares of Kinross Gold from C$11.00 to C$12.00 in a research report on Wednesday. Zacks Investment Research upgraded shares of Kinross Gold from a “sell” rating to a “hold” rating and set a $6.00 target price on the stock in a research report on Wednesday, March 30th. Canaccord Genuity Group decreased their target price on shares of Kinross Gold from C$10.50 to C$9.50 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. StockNews.com started coverage on shares of Kinross Gold in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, TD Securities reduced their price objective on shares of Kinross Gold from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average target price of $8.53.

Shares of KGC stock opened at $6.00 on Thursday. The company’s fifty day simple moving average is $5.72 and its two-hundred day simple moving average is $5.81. The company has a quick ratio of 1.08, a current ratio of 2.63 and a debt-to-equity ratio of 0.24. The stock has a market cap of $7.77 billion, a P/E ratio of 35.29 and a beta of 0.97. Kinross Gold has a 52 week low of $4.90 and a 52 week high of $8.34.

Kinross Gold (NYSE:KGCGet Rating) (TSE:K) last announced its quarterly earnings results on Wednesday, February 16th. The mining company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $879.50 million for the quarter, compared to analysts’ expectations of $927.06 million. Kinross Gold had a net margin of 5.93% and a return on equity of 8.00%. The business’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in shares of Kinross Gold by 4,360.5% during the third quarter. Geneos Wealth Management Inc. now owns 7,672 shares of the mining company’s stock valued at $40,000 after purchasing an additional 7,500 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Kinross Gold by 84.2% during the third quarter. Rockefeller Capital Management L.P. now owns 7,875 shares of the mining company’s stock valued at $42,000 after purchasing an additional 3,600 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Kinross Gold by 28.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,000 shares of the mining company’s stock valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Kinross Gold during the fourth quarter valued at approximately $57,000. Finally, TownSquare Capital LLC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 57.21% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Wednesday, March 9th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.00%. Kinross Gold’s dividend payout ratio is presently 70.59%.

Kinross Gold Company Profile (Get Rating)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.

See Also

Earnings History and Estimates for Kinross Gold (NYSE:KGC)

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