FY2022 EPS Estimates for Kinross Gold Co. Decreased by Analyst (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) – Equities researchers at Jefferies Financial Group reduced their FY2022 earnings per share estimates for shares of Kinross Gold in a note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst C. Lafemina now expects that the mining company will post earnings per share of $0.21 for the year, down from their previous forecast of $0.22. The consensus estimate for Kinross Gold’s current full-year earnings is $0.22 per share. Jefferies Financial Group also issued estimates for Kinross Gold’s Q4 2022 earnings at $0.08 EPS, Q1 2024 earnings at $0.12 EPS, Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.13 EPS and Q4 2024 earnings at $0.13 EPS.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings results on Wednesday, November 9th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Kinross Gold had a positive return on equity of 4.34% and a negative net margin of 15.09%. The company had revenue of $856.50 million for the quarter.

KGC has been the subject of several other research reports. Raymond James cut Kinross Gold from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 23rd. TD Securities lowered their target price on Kinross Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, November 11th. National Bank Financial raised their target price on Kinross Gold from C$8.25 to C$8.50 in a research note on Friday, January 13th. Canaccord Genuity Group lowered their target price on Kinross Gold from C$8.00 to C$7.25 and set a “buy” rating for the company in a research note on Wednesday, November 16th. Finally, StockNews.com initiated coverage on Kinross Gold in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.73.

Kinross Gold Trading Up 2.9 %

NYSE KGC opened at $4.69 on Thursday. Kinross Gold has a fifty-two week low of $3.00 and a fifty-two week high of $6.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.28 and a current ratio of 2.98. The stock has a 50 day simple moving average of $4.28 and a two-hundred day simple moving average of $3.76. The stock has a market cap of $5.73 billion, a P/E ratio of -12.03 and a beta of 0.83.

Institutional Trading of Kinross Gold

A number of institutional investors and hedge funds have recently modified their holdings of KGC. Van ECK Associates Corp grew its holdings in shares of Kinross Gold by 71.3% in the second quarter. Van ECK Associates Corp now owns 146,672,975 shares of the mining company’s stock worth $525,083,000 after acquiring an additional 61,068,468 shares during the period. Barclays PLC grew its holdings in shares of Kinross Gold by 24.7% in the third quarter. Barclays PLC now owns 75,405,857 shares of the mining company’s stock worth $283,526,000 after acquiring an additional 14,955,650 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Kinross Gold by 374.2% in the first quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock worth $68,230,000 after acquiring an additional 9,285,284 shares during the period. Credit Suisse AG grew its holdings in shares of Kinross Gold by 149.2% in the second quarter. Credit Suisse AG now owns 9,660,612 shares of the mining company’s stock worth $34,585,000 after acquiring an additional 5,783,893 shares during the period. Finally, Condire Management LP bought a new stake in shares of Kinross Gold in the second quarter worth $17,900,000. Institutional investors own 55.58% of the company’s stock.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Wednesday, November 30th. Kinross Gold’s payout ratio is -30.77%.

Kinross Gold Company Profile

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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.