Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) – Investment analysts at Cormark lowered their FY2022 earnings per share estimates for shares of Kinross Gold in a note issued to investors on Tuesday, April 26th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.45 per share for the year, down from their previous forecast of $0.55.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Kinross Gold from a “hold” rating to a “sell” rating and set a $5.75 price objective for the company. in a report on Monday. Raymond James set a $7.50 price objective on Kinross Gold and gave the company an “outperform” rating in a research note on Tuesday. Barclays lifted their price objective on Kinross Gold from $6.00 to $7.00 in a research note on Thursday, April 21st. Canaccord Genuity Group dropped 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. Finally, Credit Suisse Group lowered Kinross Gold from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $5.25 in a research note on Thursday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned 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 $8.36.
Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last issued 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 company’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Wednesday, March 9th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, March 8th. Kinross Gold’s dividend payout ratio (DPR) is currently 70.59%.
Large investors have recently added to or reduced their stakes in the business. Ruffer LLP increased its stake in shares of Kinross Gold by 43.3% in the fourth quarter. Ruffer LLP now owns 59,308,657 shares of the mining company’s stock valued at $337,482,000 after buying an additional 17,917,522 shares in the last quarter. Renaissance Technologies LLC increased its position in Kinross Gold by 5.3% in the 3rd quarter. Renaissance Technologies LLC now owns 32,868,174 shares of the mining company’s stock valued at $176,178,000 after acquiring an additional 1,640,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Kinross Gold by 183.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,827,052 shares of the mining company’s stock worth $80,294,000 after acquiring an additional 8,950,090 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Kinross Gold by 40.1% during the fourth quarter. Mackenzie Financial Corp now owns 13,800,379 shares of the mining company’s stock worth $80,045,000 after purchasing an additional 3,947,609 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its stake in shares of Kinross Gold by 26.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 12,129,267 shares of the mining company’s stock valued at $70,471,000 after purchasing an additional 2,513,418 shares during the last quarter. Hedge funds and other institutional investors own 57.21% of the company’s stock.
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.
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