Raymond James Equities Analysts Increase Earnings Estimates for Kinross Gold Co. (NYSE:KGC)

Kinross Gold Co. (NYSE:KGC) (TSE:K) – Investment analysts at Raymond James raised their Q2 2024 EPS estimates for Kinross Gold in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.12 per share for the quarter, up from their prior estimate of $0.04. The consensus estimate for Kinross Gold’s current full-year earnings is $0.37 per share. Raymond James also issued estimates for Kinross Gold’s Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.14 EPS and FY2024 earnings at $0.44 EPS.

Other equities research analysts have also recently issued reports about the stock. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Jefferies Financial Group upped their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. CIBC upped their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.44.

Kinross Gold Stock Up 0.2 %

KGC stock opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. Kinross Gold has a 52-week low of $4.32 and a 52-week high of $6.87. The company has a 50-day moving average of $5.83 and a two-hundred day moving average of $5.65. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio is currently 35.29%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KGC. Bruce G. Allen Investments LLC acquired a new stake in shares of Kinross Gold during the fourth quarter worth approximately $26,000. CWM LLC grew its stake in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after purchasing an additional 5,750 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $53,000. Finally, Advisor Resource Council bought a new stake in shares of Kinross Gold during the first quarter valued at approximately $60,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Company Profile

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.