Raymond James Research Analysts Cut Earnings Estimates for Kinross Gold Co. (TSE:K)

Kinross Gold Co. (TSE:KGet Rating) (NYSE:KGC) – Equities research analysts at Raymond James reduced their FY2023 earnings per share (EPS) estimates for shares of Kinross Gold in a research report issued on Monday, April 25th. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.62 per share for the year, down from their previous forecast of $0.63. Raymond James currently has a “Outperform” rating and a $10.00 target price on the stock.

Kinross Gold (TSE:KGet Rating) (NYSE:KGC) last posted its earnings results on Wednesday, February 16th. The company reported C$0.10 EPS for the quarter, topping the consensus estimate of C$0.08 by C$0.02. The business had revenue of C$1.11 billion for the quarter, compared to analyst estimates of C$1.16 billion.

A number of other research analysts also recently issued reports on K. Royal Bank of Canada downgraded shares of Kinross Gold from an “outperform” rating to a “hold” rating and set a C$6.00 price target on the stock. in a research report on Wednesday, April 20th. Canaccord Genuity Group boosted their price target on shares of Kinross Gold from C$9.50 to C$12.00 in a research report on Friday, April 22nd. Eight Capital boosted their target price on shares of Kinross Gold from C$11.00 to C$11.50 and gave the company a “buy” rating in a research report on Thursday, April 21st. Barclays reiterated an “overweight” rating and set a C$6.00 target price on shares of Kinross Gold in a research report on Thursday, March 3rd. Finally, National Bankshares boosted their target price on shares of Kinross Gold from C$11.00 to C$12.00 in a research report on Wednesday, April 20th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$9.56.

TSE:K opened at C$6.48 on Wednesday. The firm’s 50 day simple moving average is C$7.20 and its 200 day simple moving average is C$7.33. The company has a debt-to-equity ratio of 25.34, a current ratio of 2.63 and a quick ratio of 0.87. Kinross Gold has a one year low of C$6.32 and a one year high of C$10.06. The company has a market cap of C$8.40 billion and a PE ratio of 30.28.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Wednesday, March 9th were issued a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $0.12 annualized dividend and a dividend yield of 1.85%. Kinross Gold’s payout ratio is currently 56.07%.

In related news, Director Jonathan Paul Rollinson sold 28,434 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of C$6.90, for a total value of C$196,194.60. Following the completion of the transaction, the director now directly owns 2,700,776 shares in the company, valued at C$18,635,354.40. In the last ninety days, insiders sold 53,003 shares of company stock worth $372,110.

About Kinross Gold (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.

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Earnings History and Estimates for Kinross Gold (TSE:K)

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